| Period End | Type | Status | Affected | % Workforce | Announced | Expected Completion | Geography | Segment / Function | Charge | Source | Note |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-06-30 | restructuring | in_progress | USD 11 (millions) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Severance expense of $11 million for the three months ended June 30, 2026 related to initiatives to realign the workforce; no employee count or completion date disclosed. | ||||||
| 2026-06-30 | restructuring | in_progress | USD 18 (millions) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Severance expense of $18 million for the six months ended June 30, 2026 related to workforce realignment initiatives; no employee count or completion date disclosed. | ||||||
| 2026-06-30 | restructuring | in_progress | United States | Corporate / Multiple segments | USD 18 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Severance expense for workforce realignment initiatives: $11M in Q2 2026 and $18M YTD 2026. No employee count, announcement date, or completion date disclosed. | ||||
| 2026-06-30 | restructuring | in_progress | USD 11 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Severance expense related to initiatives to realign the workforce for the three months ended June 30, 2026. | ||||||
| 2026-06-30 | restructuring | in_progress | USD 18 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Severance expense related to initiatives to realign the workforce for the six months ended June 30, 2026. | ||||||
| 2026-03-31 | restructuring | in_progress | USD 7 (millions) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Severance expense of $7 million recognized in the three months ended March 31, 2026 for initiatives to realign the workforce; no employee count disclosed. | ||||||
| 2026-03-31 | restructuring | in_progress | USD 7 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Severance expense for workforce realignment initiatives in Q1 2026; no employee count or announcement date disclosed. | ||||||
| 2026-03-31 | restructuring | in_progress | USD 7 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Severance expense related to initiatives to realign the workforce. | ||||||
| 2025-12-31 | restructuring | in_progress | USD 24 (millions) | MD&A f5-10k / GLM-5.3-flash-HTML | Severance expense of $24 million recognized in FY2025 for initiatives to realign the workforce; reported in consolidated 'Other items' excluded from segment income from operations (also disclosed in Note 19, Segment Information). No headcount or completion date disclosed; prior-year severance of $74 million (2024) and $7 million (2023) indicates a multi-year realignment effort. | ||||||
| 2025-12-31 | restructuring | completed | United States | Enterprise | USD 24 (millions) | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Severance expense related to initiatives to realign the workforce for the year ended December 31, 2025. Employee count not disclosed. | ||||
| 2025-12-31 | restructuring | completed | United States | Life Insurance | USD 55 (millions) | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Transaction costs for restructuring certain captive reinsurance subsidiaries in Q4 2025. Employee count not disclosed; primarily a legal entity restructuring. | ||||
| 2025-12-31 | restructuring | completed | United States | Life Insurance | USD 22 (millions) | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Transaction, integration and other costs related to Life Insurance segment persistency optimization for the year ended December 31, 2025. Employee count not disclosed. | ||||
| 2025-12-31 | restructuring | completed | 2025 | Life Insurance | USD 55 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | In the fourth quarter of 2025, the company restructured certain captive reinsurance subsidiaries to reduce operating expenses and improve free cash flow within the Life Insurance segment. Transaction costs of $55 million were incurred. | ||||
| 2025-12-31 | restructuring | completed | 2025 | Corporate | USD 24 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Severance expense related to initiatives to realign the workforce of $24 million for the year ended December 31, 2025. | ||||
| 2025-09-30 | restructuring | in_progress | Company-wide workforce realignment initiatives | USD 5 (millions) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Severance expense of $5 million for the three months ended September 30, 2025 related to initiatives to realign the workforce; no employee counts or completion dates disclosed. | |||||
| 2025-09-30 | restructuring | in_progress | Company-wide workforce realignment initiatives | USD 13 (millions) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Severance expense of $13 million for the nine months ended September 30, 2025 related to initiatives to realign the workforce; no employee counts or completion dates disclosed. | |||||
| 2025-09-30 | restructuring | in_progress | United States | Life Insurance | USD 22 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Transaction/integration costs related to Life Insurance segment persistency optimization; no employee count disclosed. | ||||
| 2025-09-30 | restructuring | in_progress | United States | Other Operations | USD 55 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Transaction costs related to restructuring certain captive reinsurance subsidiaries; no employee count disclosed. | ||||
| 2025-09-30 | other | in_progress | United States | Corporate | USD 13 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Severance expense for nine months ended September 30, 2025 related to initiatives to realign the workforce; $5M in Q3 alone. No employee count disclosed. | ||||
| 2025-09-30 | restructuring | in_progress | USD 5 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Severance expense related to initiatives to realign the workforce for the three months ended September 30, 2025. | ||||||
| 2025-09-30 | restructuring | in_progress | USD 13 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Severance expense related to initiatives to realign the workforce for the nine months ended September 30, 2025. | ||||||
| 2025-06-30 | restructuring | in_progress | USD 8 (millions) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Severance expense related to initiatives to realign the workforce totaled $8 million for the six months ended June 30, 2025, of which $2 million was incurred in the second quarter. No employee counts or program timeline were disclosed. | ||||||
| 2025-06-30 | restructuring | in_progress | USD -2 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Severance expense related to initiatives to realign the workforce. | ||||||
| 2025-06-30 | restructuring | in_progress | USD -8 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Severance expense related to initiatives to realign the workforce. | ||||||
| 2025-03-31 | restructuring | in_progress | USD 6 (millions) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Severance expense of $6 million pre-tax for the three months ended March 31, 2025 related to initiatives to realign the workforce; no employee count disclosed. | ||||||
| 2025-03-31 | restructuring | in_progress | USD 6 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Severance expense of $6M for initiatives to realign the workforce; no employee count or completion date disclosed. Prior-year comparative was $49M for similar initiatives. | ||||||
| 2025-03-31 | restructuring | in_progress | USD 6 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Severance expense related to initiatives to realign the workforce. | ||||||
| 2024-12-31 | restructuring | completed | 5% | 2024 | USD 74 (millions) | MD&A f5-10k / GLM-5.3-flash-HTML | Company-wide workforce reduction of approximately 5% executed in Q1 2024 to streamline the organizational structure, improve operational efficiency and reduce expenses; FY2024 severance expense of $74 million related to workforce realignment initiatives per the Other items footnote to consolidated results. | ||||
| 2024-12-31 | divestiture_reduction | completed | 2023-12-14 | Wealth Management (Lincoln Financial Network retail distribution) | other f5-10k / GLM-5.3-flash-HTML | Closed sale of wealth management business subsidiaries to Osaic Holdings on May 6, 2024 for $723 million in cash; headcount transferring with the divested business was not disclosed. | |||||
| 2024-12-31 | restructuring | completed | 5% | 2024-01-01 | 2024-03-31 | Global | Enterprise-wide | USD 74 (millions) | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Approximately 5% workforce reduction in Q1 2024 to streamline organizational structure; $74M severance expense for full year 2024. | |
| 2024-12-31 | divestiture_reduction | completed | 2023-12-14 | 2024-05-06 | United States | Wealth Management (Lincoln Financial Network) | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of LFN subsidiaries to Osaic Holdings closed May 6, 2024; headcount removed not disclosed. | |||
| 2024-12-31 | restructuring | completed | 5% | 2024-03-31 | 2024-12-31 | Global | All segments | USD 74 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Workforce reduced by approximately 5% in Q1 2024 to streamline organizational structure. Severance expense of $74 million recorded for the year ended Dec 31, 2024. | |
| 2024-09-30 | restructuring | in_progress | USD 16 (millions) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Severance expense of $16 million in Q3 2024 tied to initiatives that realign the workforce; no employee counts disclosed. Prior 2024 quarters disclosed $49 million (Q1) and $7 million (Q2) of similar severance expense. | ||||||
| 2024-09-30 | restructuring | completed | USD 16 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Severance expense related to initiatives that realign the workforce for the three months ended September 30, 2024. | ||||||
| 2024-09-30 | restructuring | completed | USD 7 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Severance expense related to initiatives that realign the workforce for the three months ended June 30, 2024 (included in YTD). | ||||||
| 2024-09-30 | restructuring | completed | USD 49 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Severance expense related to initiatives that realign the workforce for the three months ended March 31, 2024 (included in YTD). | ||||||
| 2024-06-30 | reduction_in_force | completed | Other Operations | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Higher other expenses in Other Operations for the six months ended June 30, 2024 were driven in part by severance expense associated with a workforce reduction in the first quarter of 2024; no headcount or charge amount disclosed. | ||||||
| 2024-06-30 | other | announced | 1 | 2024-05-15 | 2024-12-31 | Retail Solutions (EVP and President) | other f5-10q / GLM-5.3-flash-fp4-HTML | Executive job elimination: EVP and President Retail Solutions relinquished responsibilities May 15, 2024; employment terminates other than for cause effective December 31, 2024, with advisory period and severance/layoff benefits. | |||
| 2024-06-30 | divestiture_reduction | completed | 2023-12-14 | 2024-05-06 | United States | Wealth Management (Lincoln Financial Network) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Sale of wealth management subsidiaries to Osaic Holdings closed May 6, 2024; $725M cash received; no employee count disclosed. Transaction expenses of $26M in Q2 and $35M YTD reported in commissions and other expenses. | |||
| 2024-06-30 | restructuring | completed | Other Operations | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Severance expense associated with a workforce reduction in Q1 2024 cited as a driver of higher Other Operations expenses; no employee count or charge amount disclosed. | ||||||
| 2024-06-30 | layoff | announced | 1 | 2024-05-15 | 2024-12-31 | United States | Executive — EVP and President, Retail Solutions | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Single executive job elimination; notification May 15, 2024; termination effective Dec 31, 2024 if agreement signed, otherwise Jul 15, 2024. Includes 60-day paid non-working notice period and advisory period through Termination Date. | ||
| 2024-06-30 | restructuring | in_progress | Corporate / Other Operations | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Filing discloses 'severance expense associated with workforce reduction in the first quarter of 2024' within Other Operations. No specific headcount or total charge amount is provided in the 10-Q. | ||||||
| 2024-03-31 | restructuring | completed | Other Operations | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Loss from operations for Other Operations increased due to higher other expenses including severance expense associated with a workforce reduction in the first quarter of 2024; no headcount or charge amount disclosed. | ||||||
| 2024-03-31 | restructuring | completed | United States | Other Operations | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Severance expense from a workforce reduction in Q1 2024; no employee count or charge amount disclosed. | |||||
| 2024-03-31 | restructuring | in_progress | Corporate / Other Operations | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Filing discloses 'severance expense associated with workforce reduction in the first quarter of 2024' within Other Operations expenses, but does not quantify the number of employees affected. | ||||||
| 2023-12-31 | reduction_in_force | announced | 5% | 2024-02 | United States | Other Operations | subsequent_events f5-10k / GLM-5.3-flash-HTML | Subsequent event executed in February 2024 (after fiscal year-end, before the February 22, 2024 filing date); disclosed within MD&A, hence status 'announced' per subsequent-event convention despite past-tense description. Approximately 5% workforce reduction to streamline the organizational structure and improve efficiency; absolute headcount not disclosed (not computed). Workforce-reduction expenses expected during the first half of 2024 and reported within Other Operations. Company workforce is entirely US-based (11,024 employees), so the affected population is US. | |||
| 2023-12-31 | divestiture_reduction | announced | 2023-12-14 | United States | Wealth Management (Lincoln Financial Network) | Item_1_Business f5-10k / GLM-5.3-flash-HTML | Stock Purchase Agreement with Osaic Holdings, Inc. to acquire the wealth management business operated through LFN (Lincoln Financial Securities Corporation and Lincoln Financial Advisors Corporation); closing expected in the first half of 2024 pending regulatory approvals, so no headcount transferred during FY2023. Employee counts transferring with the business not disclosed. As of December 31, 2023, $131 million of assets and $60 million of liabilities were held-for-sale, reported primarily within Other Operations. | ||||
| 2023-12-31 | restructuring | announced | 5% | 2024-02-01 | United States | Enterprise-wide | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Approximately 5% workforce reduction announced February 2024 (after fiscal year-end). Workforce reduction expenses expected in H1 2024, reported within Other Operations. Approximate count not disclosed; 5% of 11,024 implies roughly 551 employees. | |||
| 2023-12-31 | divestiture_reduction | announced | 2023-12-14 | 2024-06-30 | United States | Lincoln Financial Network (Wealth Management) | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | Stock Purchase Agreement with Osaic Holdings to sell wealth management subsidiaries (Lincoln Financial Securities Corporation and Lincoln Financial Advisors Corporation). Expected to close H1 2024. Headcount associated with divested entities not disclosed. | |||
| 2023-12-31 | restructuring | announced | 5% | 2024-02 | 2024-06-30 | United States | Corporate / All Segments | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Announced in February 2024 (subsequent event). Workforce reduced by approximately 5% to streamline organizational structure. Expenses expected in first half of 2024. | ||
| 2023-03-31 | other | completed | 1 | 2023-02-17 | 2023-03-31 | United States | Executive management (CFO) | other f5-10q / GLM-5.3-flash-fp4-HTML | Executive Vice President and CFO terminated other than for cause effective March 31, 2023; resigned as director and officer effective February 17, 2023. Agreement provides 78 weeks of severance pay under the Severance Plan for Officers, with commencement delayed six months under Section 409A; equity awards treated per Retirement provisions. | ||
| 2021-12-31 | restructuring | announced | 2021-11 | United States | Enterprise-wide | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | Spark Initiative announced November 2021; multi-year expense savings program targeting automation and process efficiency. No employee affected count or severance charge disclosed. 2021 benefits of ~$9M pre-DAC pre-tax; investments expected to exceed benefits by $25M-$65M in 2022; target annual benefits of $260M-$300M by end of 2024. | ||||
| 2018-12-31 | acquisition_addition | completed | 2018-05-01 | 2018-05-01 | United States | Group Protection | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Acquisition of Liberty Life Assurance Company of Boston completed 2018-05-01; headcount added not separately disclosed. Filer notes Liberty Life constituted less than 2% of total assets and 9% of total revenues for the year then ended. | |||
| 2015-12-31 | divestiture_reduction | completed | 2015-07-16 | 2015-07-16 | United States | Other Operations — Lincoln Financial Media Company | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of Lincoln Financial Media Company to Entercom closed July 16, 2015; $75M cash and $28M preferred stock received. Headcount removed through the divestiture was not disclosed. | |||
| 2014-12-31 | restructuring | completed | USD 0 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Restructuring charges were $0 million for the year ended December 31, 2014, compared to $20 million in 2012. No specific employee count was disclosed for the 2014 period. | ||||||
| 2013-12-31 | restructuring | completed | USD 20 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Restructuring charges of $20 million reported in Other Operations for fiscal year 2013. Employee count not disclosed. | ||||||
| 2013-03-31 | restructuring | completed | Other Operations | USD 1 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Restructuring charges of $1 million reported in Other Expenses for the three months ended March 31, 2013. | |||||
| 2012-12-31 | restructuring | completed | United States | Other Operations | USD 20 (millions) | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Restructuring charges of $20 million recorded in 2012 within Other Operations; employee count not disclosed. | ||||
| 2012-12-31 | restructuring | completed | USD 20 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Restructuring charges of $20 million recorded in 2012. Employee count not disclosed. | ||||||
| 2012-12-31 | restructuring | in_progress | USD 20,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | |||||||
| 2012-09-30 | restructuring | in_progress | 2012-07-12 | 2012-12-28 | USD 14 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Restructuring charges incurred in Q3 2012. No employee count disclosed. | ||||
| 2011-12-31 | divestiture_reduction | completed | 2011-07-25 | 2011-11-30 | Indiana, United States | Other Operations — thrift business (NCLS) | other f5-10k / GLM-5.3-flash-HTML | Voluntary dissolution of NCLS, a savings bank subsidiary acquired in 2009; the OCC approved the dissolution effective November 30, 2011. This was a liquidation rather than a sale, and no employee headcount impact was disclosed. The company stated the liquidation did not have a significant effect on Other Operations results. | |||
| 2011-12-31 | restructuring | completed | 2008-12-01 | 2009-12-31 | Global | Corporate | USD 41 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Restructuring plan implemented starting in December 2008 in response to economic downturn. Cumulative pre-tax charges of $41 million for severance, benefits and related costs. Actions completed during 2009. | ||
| 2011-12-31 | restructuring | in_progress | USD 0 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | |||||||
| 2010-12-31 | restructuring | completed | 2008-12 | 2009 | USD 41 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Multi-year expense-reduction plan initiated December 2008 in response to the economic downturn and market volatility; actions were completed during 2009. Cumulative pre-tax charges of $41 million covered severance, benefits and related workforce-reduction costs. Fiscal 2010 reflected a $1 million recovery related to this plan; no employee headcount was quantified. | ||||
| 2010-12-31 | restructuring | completed | 2010 | USD 225 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Jefferson-Pilot merger integration program (merger completed April 2006): actions to eliminate duplicate operations and functions, implement a unified product portfolio and related initiatives were completed during 2010. Cumulative pre-tax integration expense of approximately $225 million, excluding capitalized amounts and goodwill; fiscal 2010 merger-related expense was $9 million. No headcount impact quantified. | |||||
| 2010-12-31 | restructuring | completed | 2008-12-01 | 2009-12-31 | United States | Corporate / Multiple | USD 41 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Cumulative pre-tax charges of $41M for severance, benefits and related costs under a restructuring plan initiated December 2008 in response to the economic downturn; actions completed during 2009. No employee count disclosed. This is a multi-year program; cumulative-to-date figure as presented. | ||
| 2010-12-31 | divestiture_reduction | completed | 2009-08-18 | 2010-01-04 | United States | Investment Management (Delaware) | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of Delaware Management Holdings to Macquarie Bank closed 2010-01-04; headcount removed not disclosed. Reported as discontinued operations. | |||
| 2010-12-31 | divestiture_reduction | completed | 2009-06-15 | 2009-10-01 | United Kingdom | Lincoln UK (Life and Retirement) | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of Lincoln National (UK) plc closed 2009-10-01; headcount removed not disclosed. Reported as discontinued operations for all periods presented. | |||
| 2010-12-31 | restructuring | completed | 2008-12 | 2009-12-31 | Global | Corporate | USD 41 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Restructuring plan implemented starting Dec 2008 in response to economic downturn. Cumulative pre-tax charges of $41 million for severance and benefits. Actions completed during 2009. | ||
| 2010-12-31 | restructuring | in_progress | USD -1,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | |||||||
| 2010-09-30 | restructuring | completed | 2009-12-31 | United States | Corporate / Other Operations | USD 42 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Cumulative pre-tax charges of $42 million for severance, benefits, and related costs associated with workforce reduction and other restructuring actions implemented in response to economic downturn. Actions completed during 2009. | |||
| 2010-06-30 | restructuring | completed | 2008-12-01 | 2009-12-31 | Global | Corporate / All Segments | USD 42 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Restructuring plan implemented in response to economic downturn focused on reducing expenses. Actions completed during 2009. Cumulative pre-tax charges of $42 million for severance, benefits and related costs. | ||
| 2010-03-31 | restructuring | completed | 2008-12-01 | 2009-12-31 | United States | Corporate / All Segments | USD 0 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Restructuring plan implemented in Dec 2008 to reduce expenses. Cumulative pre-tax charges of $42 million for severance and benefits. Actions completed during 2009; no charges recorded in Q1 2010. | ||
| 2009-12-31 | restructuring | completed | 2008-12-01 | 2009-06-30 | United States | Enterprise-wide | USD 42 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Cumulative pre-tax charges of $42M for severance, benefits and related costs under the 2008 Restructuring Plan. Includes a 12% workforce reduction substantially completed in Q2 2009. Employee count not disclosed. | ||
| 2009-12-31 | restructuring | completed | 2008-12-01 | 2009-06-30 | United States | Enterprise-wide | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Expense reduction initiative launched December 2008, completed June 2009, achieving annualized gross G&A expense reduction of $140M to $160M after-tax. Employee count not disclosed. May overlap with the 2008 Restructuring Plan. | |||
| 2009-12-31 | acquisition_addition | completed | 2009-01-08 | 2009-01-15 | United States | Banking (Newton County Loan & Savings, FSB) | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Acquisition of Newton County Loan & Savings, FSB closed January 15, 2009. Filer states it did not have a material impact on consolidated financial condition or results of operations. Headcount added not disclosed. | |||
| 2009-12-31 | divestiture_reduction | completed | 2009-06-15 | 2009-10-01 | United Kingdom | Lincoln UK (life and retirement income products) | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of Lincoln National (UK) plc closed October 1, 2009 for $307M after-tax proceeds. LNC retained Lincoln UK's pension plan assets and liabilities. Headcount removed not disclosed. | |||
| 2009-12-31 | divestiture_reduction | completed | 2009-08-18 | 2010-01-04 | United States | Delaware Management Holdings (investment management) | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of Delaware Management Holdings to Macquarie Bank Limited closed January 4, 2010 (subsequent to fiscal year-end). Approximately $405M after-tax proceeds. Headcount removed not disclosed. | |||
| 2009-12-31 | restructuring | completed | 2008-12 | 2009-06-30 | Global | Corporate / All Segments | USD 42 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Initiated in December 2008 to adjust capacity to volume reduction. Completed in June 2009. Cumulative pre-tax charges of $42 million for severance, benefits, and related costs. | ||
| 2009-12-31 | restructuring | completed | 2009-06 | 2009-06-30 | Global | Corporate / All Segments | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Second expense reduction initiative launched in Q2 2009, including a 12% workforce reduction substantially completed in Q2 2009. Specific headcount or charge not explicitly quantified in text, but included in 'restructuring charges' in Other Operations. | |||
| 2009-09-30 | restructuring | in_progress | 2008-12-01 | Company-wide | USD 8 (millions) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Restructuring plan initiated in Q4 2008 in response to economic downturn, focused on reducing expenses; Q4 2008 pre-tax charge of $8 million; cumulative pre-tax charges expected to total $43 million for severance, benefits and related costs of workforce reduction and other restructuring actions. | ||||
| 2009-09-30 | reduction_in_force | completed | 12% | 2009-04-01 | 2009-06-30 | Company-wide | USD 34 (millions) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Second expense reduction initiative launched in Q2 2009; 12% workforce reduction substantially completed in Q2 2009. Restructuring charges for expense initiatives of $34 million pre-tax for the nine months ended September 30, 2009 per the other expenses table ($1 million in Q3); MD&A narrative elsewhere references $22 million of restructuring charges in 2009. Charges reported in Other Operations. | ||
| 2009-09-30 | restructuring | completed | 12% | 2008-12-01 | 2009-06-30 | United States | Enterprise-wide | USD 43 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Restructuring plan initiated December 2008 in response to economic downturn; 12% workforce reduction substantially completed in Q2 2009. Cumulative pre-tax charges expected to total $43M for severance, benefits, and related costs. $8M recorded in Q4 2008; $34M recorded in nine months ended 2009 per expense table. | |
| 2009-09-30 | divestiture_reduction | completed | 2009-06-15 | 2009-10-01 | United Kingdom | Lincoln UK (discontinued operations) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Sale of Lincoln National (UK) plc to SLF of Canada UK Limited closed October 1, 2009; headcount impact not quantified in filing. | |||
| 2009-09-30 | divestiture_reduction | announced | 2009-08-18 | 2009-12-31 | United States | Delaware Management Holdings (Investment Management) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Pending sale of Delaware Management Holdings to Macquarie Bank Limited; expected to close on or around December 31, 2009. Headcount impact not quantified in filing. | |||
| 2009-09-30 | restructuring | in_progress | 12% | 2009-04-01 | Global | Corporate-wide | USD 22 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | 12% workforce reduction substantially completed in Q2 2009; $22M restructuring costs included in other expenses. | ||
| 2009-06-30 | restructuring | in_progress | 2008-12-01 | Enterprise-wide | USD 8 (millions) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Plan initiated December 2008 in response to economic downturn; focused on reducing expenses. Cumulative pre-tax charges expected to be approximately $43 million for severance, benefits and related costs. | ||||
| 2009-06-30 | reduction_in_force | completed | 12% | 2009-04-01 | 2009-04-30 | Enterprise-wide | USD 29 (millions) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Second expense reduction initiative launched April 2009; 12% workforce reduction substantially completed in April 2009. Restructuring charges of $29 million in Q2 2009 and $34 million for the six months ended June 30, 2009, reported in other expenses within Other Operations. | ||
| 2009-06-30 | restructuring | completed | 12% | 2008-10-01 | 2009-04-30 | United States | Enterprise-wide | USD 43 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Two-phase program: initial actions in Q4 2008, second initiative April 2009. 12% workforce reduction substantially completed April 2009. Cumulative pre-tax charges expected ~$43M for severance and restructuring. Restructuring charges for expense initiatives were $34M for six months ended June 30, 2009. | |
| 2009-06-30 | divestiture_reduction | announced | 2009-06-15 | 2009-12-31 | United Kingdom | Lincoln National (UK) plc | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Share purchase agreement to sell Lincoln UK to SLF of Canada UK Limited. Headcount impact not disclosed. Expected to close Q4 2009 subject to regulatory approvals. | |||
| 2009-06-30 | restructuring | in_progress | 12% | 2009-04-01 | 2009-04-30 | Global | Corporate-wide | USD 22 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | 12% workforce reduction substantially completed in April 2009. $22 million pre-tax restructuring charges recorded in first six months of 2009. | |
| 2009-03-31 | restructuring | in_progress | 2008-12-01 | Other Operations | USD 5 (millions) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Restructuring plan initiated December 2008 focused on expense reduction; $5 million pre-tax charge recorded in Q1 2009; cumulative pre-tax charges expected to total approximately $40 million for severance, benefits and related costs. | ||||
| 2009-03-31 | reduction_in_force | completed | 12% | 2008-12-01 | 2009-04-30 | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | 12% workforce reduction completed in April 2009 as part of expense reduction initiatives; restructuring costs included in other expenses within Other Operations. | ||||
| 2009-03-31 | restructuring | completed | 12% | 2008-12-01 | 2009-04-30 | United States | Enterprise-wide | USD 40 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Restructuring plan initiated December 2008; 12% workforce reduction completed April 2009. Cumulative pre-tax charges estimated at ~$40M for severance, benefits, and related costs. $8M recorded in Q4 2008 and $5M in Q1 2009. | |
| 2009-03-31 | restructuring | in_progress | 12% | 2009-04-01 | 2009-04-30 | Global | Corporate-wide | USD 40 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | 12% workforce reduction completed in April 2009. Cumulative pre-tax charges expected to be approximately $40 million for severance, benefits and related costs. | |
| 2008-12-31 | restructuring | in_progress | 500 | 2008-12-01 | 2009-12-31 | United States | Company-wide | USD 8 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Pre-tax charge of $8M recorded in Q4 2008; additional ~$7M expected in 2009 for severance, benefits, and related costs. Plan focused on reducing expenses in response to economic downturn and market volatility. | |
| 2008-12-31 | acquisition_addition | completed | 2009-01-08 | 2009-01-15 | United States | Banking / Savings & Loan | USD 10 (millions) | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Subsequent event: OTS approval 2009-01-08, closed 2009-01-15. $10M capital contribution agreed. Headcount not disclosed. | ||
| 2008-12-31 | divestiture_reduction | completed | 2007-11-12 | 2008-03-31 | United States | Media (television, sports programming, radio) | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | TV stations sold 2008-03-31 ($546M proceeds), Charlotte radio sold 2008-01-31 ($100M), sports programming sold 2007-11-30 ($42M). Headcount not disclosed. | |||
| 2008-12-31 | restructuring | in_progress | 500 | 2008-12-01 | 2009-12-31 | Company-wide | Various | USD 8 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | 2008 Restructuring Plan implemented in December 2008 to reduce expenses. Pre-tax charge of $8 million recorded in Q4 2008. Additional pre-tax charges of approximately $7 million expected in 2009. | |
| 2008-06-30 | other | completed | 2007-05-01 | 2008-01-01 | United States | Corporate / All Segments | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Freeze of primary defined benefit pension plans announced May 1, 2007, effective Jan 1, 2008. Replaced with enhanced 401(k) match. No headcount reduction disclosed. | |||
| 2008-06-30 | other | completed | 2008-06-30 | United States | Corporate | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Relocation of corporate office incurred costs in Q2 2008. No headcount reduction disclosed. | ||||
| 2007-12-31 | restructuring | in_progress | 2006-04-03 | 2009-12-31 | United States | Corporate / Enterprise-wide | USD 22 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 2006 Restructuring Plan for Jefferson-Pilot merger integration. FY2007 charges: $7M employee severance/termination benefits, $15M other. Total expected costs $215M cumulative through completion. Expected completion Q4 2009. Employees affected not disclosed. | ||
| 2007-12-31 | restructuring | in_progress | 2006-04-03 | 2009-12-31 | United States | Corporate / Shared Services | USD 103 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Merger-related expenses of $103 million in 2007 primarily due to system integration work. Total expected integration expenses estimated at $205-$215 million pre-tax, substantially complete by first half of 2009. | ||
| 2007-12-31 | divestiture_reduction | completed | 2007-11-12 | 2008-03-31 | United States | Media | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Agreement to sell television stations, sports programming, and certain radio properties. Results reported as discontinued operations. Specific headcount reduction not disclosed. | |||
| 2007-09-30 | restructuring | in_progress | 2006-04-03 | 2009-12-31 | Enterprise-wide integration of legacy operations with Jefferson-Pilot | USD 17 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Charges of $17 million incurred in first nine months of 2007 (employee severance $6 million, other $11 million); $22 million expended; reserve of $3 million at September 30, 2007. Total expected costs $205-215 million pre-tax including non-qualifying integration expenses; expected completion fourth quarter 2009. No employee counts disclosed. | |||
| 2007-09-30 | other | announced | 2007-05-01 | 2008-01-01 | United States | Employee retirement benefits | USD 9 (millions) | other f5-10q / GLM-5.3-flash-fp4-HTML | Traditional pension retirement benefits to be replaced with a defined contribution plan beginning January 1, 2008; accrued benefits unaffected. Resulted in a one-time curtailment gain of $9 million pre-tax ($6 million after-tax) in Q2 2007. | ||
| 2007-09-30 | restructuring | in_progress | 2006-04-03 | 2009-12-31 | United States | Enterprise-wide (Jefferson-Pilot merger integration) | USD 17 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | 2007 YTD charges of $17M ($6M severance, $11M other); reserve $3M at 9/30/07; total expected program cost $205–215M pre-tax; no employee headcount disclosed. | ||
| 2007-09-30 | other | announced | 2007-10-31 | United States | Investment Management — fixed income team | subsequent_events f5-10q / MiMo-V2.6-Flash-fp8-HTML | Post-quarter agreement transferring certain fixed income team members and institutional taxable fixed income business; purchase price up to $48M; expected to reduce income from operations ~$3M after-tax per quarter in 2008; no headcount of departing employees disclosed. | ||||
| 2007-09-30 | restructuring | in_progress | 2006-04-03 | 2009-12-31 | Global | Corporate / Integration | USD 17 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | 2006 Restructuring Plan related to Jefferson-Pilot merger integration. $17M incurred in first nine months of 2007 (includes $6M employee severance). Total expected costs $205-215M. Employee count affected not disclosed. | ||
| 2007-09-30 | other | completed | 2007-05-01 | 2008-01-01 | United States | Corporate | USD -9 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Change in retirement benefits replacing traditional pension with defined contribution plan effective Jan 1, 2008. Resulted in one-time curtailment gain of $9M pre-tax. Employee count affected not disclosed. | ||
| 2007-06-30 | restructuring | in_progress | 2006-04-03 | 2009-12-31 | Company-wide integration of legacy operations with Jefferson-Pilot | USD 10 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Restructuring reserve was $8 million at year-end 2006; $10 million of charges incurred in first six months of 2007 ($4 million employee severance and termination benefits, $6 million other); $12 million expended in the period, leaving a $6 million reserve at June 30, 2007. Total expected costs of approximately $180 million pre-tax include restructuring charges plus additional integration expenses that do not qualify as restructuring charges; actions expected substantially complete by late 2008 with expected completion date of fourth quarter 2009. | |||
| 2007-06-30 | other | announced | 2007-07-09 | 2007-12-31 | Investment Management (fixed income team and related institutional separate account business) | subsequent_events f5-10q / GLM-5.3-flash-fp4-HTML | Agreement with an unaffiliated investment management company involving certain members of the fixed income team and related institutional separate account business of up to approximately $14 billion in assets; expected to close in the fourth quarter of 2007. Does not impact the fixed income team managing fixed income mutual funds or general account assets; not material to results of operations, liquidity or capital resources. | ||||
| 2007-06-30 | restructuring | in_progress | 2006-04-03 | 2009-12-31 | United States | Enterprise-wide (legacy LNC and Jefferson-Pilot integration) | USD 10 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | 2006 Restructuring Plan; $10M charged in first six months of 2007 ($4M employee severance/termination benefits, $6M other); reserve of $6M at 2007-06-30; total expected costs ~$180M including non-restructuring integration expenses; no employee headcount disclosed. | ||
| 2007-06-30 | divestiture_reduction | announced | 2007-07-09 | 2007-12-31 | United States | Investment Management — fixed income team and institutional separate account business | subsequent_events f5-10q / MiMo-V2.6-Flash-fp8-HTML | Agreement with an unaffiliated investment management company involving certain fixed income team members; up to ~$14B of institutional separate accounts may transfer; expected to close Q4 2007; described as not material to results of operations, liquidity or capital resources; no headcount disclosed. | |||
| 2007-06-30 | other | announced | 2007-05-01 | 2008-01-01 | United States | Enterprise-wide — employee retirement benefits | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Announced replacement of traditional pension with a defined contribution plan effective 2008-01-01; resulted in a one-time curtailment gain of $9M pre-tax ($6M after-tax) in Q2 2007; no headcount reduction disclosed. | |||
| 2007-06-30 | restructuring | in_progress | 2006-04-03 | 2009-12-31 | USD 10 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | 2006 Restructuring Plan related to Jefferson-Pilot merger integration. $10 million incurred in first six months of 2007. Total expected costs $180 million. | ||||
| 2007-06-30 | other | completed | 2007-05-01 | 2008-01-01 | USD -9 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Announced change in retirement benefits replacing traditional pension with defined contribution plan. Resulted in one-time curtailment gain of $9 million pre-tax. | ||||
| 2007-03-31 | restructuring | in_progress | 2006-04-03 | 2009-12-31 | Other Operations (merger integration of legacy operations with Jefferson-Pilot) | USD 4 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Jefferson-Pilot integration plan; Q1 2007 charges of $4 million (severance $1 million, other $3 million); reserve of $6 million at March 31, 2007; total expected costs $180 million pre-tax including non-restructuring integration expenses; substantially complete by late 2008 per MD&A, expected completion 4th Quarter 2009 per footnote. No employee counts disclosed. | |||
| 2007-03-31 | restructuring | in_progress | 2006-04-03 | 2009-12-31 | United States | Enterprise (Jefferson-Pilot merger integration) | USD 4 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | 2006 Restructuring Plan: $4M charges in Q1 2007 (severance $1M, other $3M); reserve $6M at 3/31/07; total expected costs $180M pre-tax; no employee headcount disclosed. | ||
| 2007-03-31 | restructuring | in_progress | 2006-04-03 | 2009-12-31 | United States | Enterprise (Jefferson-Pilot merger integration) | USD 14 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | MD&A reports $14M integration costs in Q1 2007 including restructuring charges; expected to rise to ~$24M in Q2 2007. No employee counts disclosed. Deduplicated with Note 12 record above (Note 12 is authoritative for the $4M restructuring charge component). | ||
| 2007-03-31 | other | announced | 2007-05-01 | 2008-01-01 | United States | Enterprise (employee retirement benefits) | subsequent_events f5-10q / MiMo-V2.6-Flash-fp8-HTML | Announced replacement of traditional pension with defined contribution plan effective 1/1/2008; one-time curtailment gain of $9M ($6M after-tax) expected in Q2 2007. No headcount impact disclosed. | |||
| 2007-03-31 | restructuring | in_progress | 2006-04-03 | 2009-12-31 | Global | Corporate / Integration | USD 4 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | 2006 Restructuring Plan related to Jefferson-Pilot merger integration. Q1 2007 charges included $1M employee severance and $3M other. Total expected costs $180M. | ||
| 2007-03-31 | other | announced | 2007-05-01 | 2008-01-01 | United States | Corporate | subsequent_events f5-10q / Qwen3.6-27B-Q8_0 | Announced replacement of traditional pension benefits with defined contribution plan effective Jan 1, 2008. Expected one-time curtailment gain of $9M pre-tax. | |||
| 2006-12-31 | acquisition_addition | completed | 2006-04-03 | 2006-04-03 | United States | Multiple segments including Individual Markets, Employer Markets, Lincoln Financial Media | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Merger with Jefferson-Pilot Corporation completed April 3, 2006; headcount added not separately disclosed. | |||
| 2006-12-31 | restructuring | in_progress | 2006-01-01 | 2009-12-31 | United States | Other Operations; Investment Management | USD 15 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 2006 Restructuring Plan for Jefferson-Pilot integration; $15M charged in 2006, total expected costs $180M through Q4 2009; headcount affected not disclosed. | ||
| 2006-12-31 | restructuring | completed | 2005-05-01 | 2006-12-31 | United States | Field management and financial planning support | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 2005 Restructuring Plan completed as of December 31, 2006 except for lease payments on vacated space through 2008; $1M reserve remaining at year-end. | |||
| 2006-12-31 | restructuring | in_progress | 2003-01-01 | 2008-12-31 | United States | Multiple domestic operations | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 2003 Restructuring Plan; $2M reversed in 2006; remaining reserves relate to lease payments on exited properties running through 2016. | |||
| 2006-12-31 | restructuring | in_progress | 2006-04-03 | 2009-12-31 | Global | Corporate / Integration | USD 15 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Plan to realign legacy operations to incorporate integration of Jefferson-Pilot. Total expected costs $180 million. 2006 charges: $14M employee severance, $1M rent. Completion expected 4th Quarter 2009. | ||
| 2006-12-31 | restructuring | completed | 2005-05-01 | 2008-12-31 | United States | Field Management / Financial Planning | USD 7 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Realign field management and financial planning support areas. 2005 charges: $4M severance, $3M rent. Plan completed except for lease payments through 2008. | ||
| 2006-12-31 | restructuring | completed | 2003-01-01 | 2016-12-31 | United States / United Kingdom | Operations / Lincoln UK | USD 23 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | 2003 plan: Realignment of Hartford, Schaumburg, and domestic operations. 2005 charges $23M. 1999/2000 plans: Lincoln UK operations. Remaining reserves $6M for lease payments through 2016. | ||
| 2006-09-30 | restructuring | in_progress | 2006-04-03 | 2009-12-31 | Other Operations (company-wide integration of legacy Lincoln and Jefferson-Pilot operations) | USD 180 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Restructuring plan implemented upon completion of the April 3, 2006 Jefferson-Pilot merger to integrate legacy operations; total expected costs of $180 million pre-tax include involuntary employee termination benefits recorded in goodwill as part of purchase price allocation. Employee severance and termination benefits of $11 million incurred in 2006, cash payments of $4 million, restructuring reserve of $7 million at September 30, 2006; additional $19 million expended that does not qualify as restructuring charges. Expected completion in fourth quarter 2009. MD&A notes actions to eliminate duplicate operations and functions, expected substantially complete by late 2008. | |||
| 2006-09-30 | restructuring | in_progress | 2006-04-03 | 2009-12-31 | United States | Other Operations | USD 180 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Merger integration restructuring plan; total expected pre-tax costs of $180M including severance recorded in goodwill. No employee headcount disclosed. Reserve at 9/30/06 was $7M. | ||
| 2006-09-30 | acquisition_addition | completed | 2006-04-03 | 2006-04-03 | United States | Individual Markets, Employer Markets, Investment Management, Lincoln Financial Media | USD 7,497 (millions) | business_combinations_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Jefferson-Pilot merger completed April 3, 2006; purchase price $7.5B. No headcount added disclosed. | ||
| 2006-09-30 | restructuring | in_progress | 2006-04-03 | 2009-12-31 | Global | Corporate / Integration | USD 180 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Merger integration plan with Jefferson-Pilot. Total expected costs $180M. Employee severance and termination benefits recorded in 2006 were $11M. Cash payments incurred $4M. Reserve at Sept 30, 2006 was $7M. Completion expected in 4th Quarter 2009. | ||
| 2006-06-30 | restructuring | in_progress | 2006-04-03 | 2009-12-31 | Other Operations (merger integration of legacy operations with Jefferson-Pilot) | USD 9 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Restructuring plan implemented upon completion of the Jefferson-Pilot merger to integrate legacy operations; $9 million expense recorded in Q2 2006 in underwriting, acquisition, insurance and other expenses; total expected costs of $180 million pre-tax including $13 million of merger-integration involuntary termination benefits in the purchase price allocation; expected completion in the fourth quarter of 2009 (MD&A narrative states actions expected to be completed in 2008). | |||
| 2006-06-30 | acquisition_addition | completed | 2006-04-03 | 2006-04-03 | United States | Individual Markets, Employer Markets, Investment Management, Lincoln Financial Media | USD 7,518 (millions) | business_combinations_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Merger with Jefferson-Pilot Corporation completed April 3, 2006; total purchase price $7,518 million; no employee headcount figures disclosed in the filing. | ||
| 2006-06-30 | acquisition_addition | completed | 2006-04-03 | 2006-04-03 | United States | Multiple (Individual Markets, Employer Markets, Investment Management, Lincoln Financial Media) | business_combinations_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Merger with Jefferson-Pilot Corporation completed April 3, 2006; headcount added not disclosed in filing. | |||
| 2006-06-30 | restructuring | in_progress | 2006-04-03 | 2009-12-31 | United States | Other Operations (corporate integration) | USD 9 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Restructuring reserve of $9M for employee severance and termination benefits at June 30, 2006; total expected program costs $180M pre-tax; no employee count disclosed. An additional $13M of involuntary termination benefits were included in the merger purchase price allocation, of which ~$2M incurred by June 30, 2006. | ||
| 2006-06-30 | restructuring | in_progress | 2006-04-03 | 2009-12-31 | USD 9 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Merger-related restructuring plan with total expected costs of $180 million. Q2 2006 expense of $9 million recorded for employee severance and termination benefits. Expected completion in 4th Quarter 2009. | ||||
| 2006-03-31 | restructuring | in_progress | 2005-05-01 | 2006-09-30 | United States | Lincoln Financial Advisors (LFA) — field management and financial planning support | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Plan announced May 2005; remaining reserves of $2 million at 2006-03-31. Lease payments on vacated space run through 2008. No employee count disclosed. | |||
| 2006-03-31 | restructuring | in_progress | 2003-01-01 | United States | Life Insurance segment — Hartford, CT and Schaumburg, IL operations | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Remaining reserves of $1 million at 2006-03-31. No employee count disclosed; announcement month only (January 2003). | ||||
| 2006-03-31 | restructuring | in_progress | 2003-06-01 | United States | Retirement and Life Insurance businesses combined into a single operating unit; additional realignment across domestic operations announced August 2003 | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Remaining reserves of $1 million at 2006-03-31. No employee count disclosed; announcement month only. | ||||
| 2006-03-31 | acquisition_addition | completed | 2006-04-03 | 2006-04-03 | United States | Life insurance, annuities and investment products, group life/disability/dental insurance, broadcasting and sports programming | subsequent_events f5-10q / MiMo-V2.6-Flash-fp8-HTML | Merger with Jefferson-Pilot Corporation closed 2006-04-03 (post-quarter). Purchase price estimated at $7.5 billion; Jefferson-Pilot had $35.8 billion consolidated assets. No headcount added disclosed; results included beginning Q2 2006. | |||
| 2006-03-31 | restructuring | in_progress | 2005-05-01 | 2006-09-30 | United States | Lincoln Financial Advisors (LFA) | USD 2 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | 2005 Restructuring Plan to realign field management and financial planning support. Remaining reserves $2 million. Lease payments run through 2008. | ||
| 2006-03-31 | restructuring | in_progress | 2003-01-01 | United States | Life Insurance | USD 1 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | 2003 Restructuring Plan for Hartford and Schaumburg operations. Remaining reserves $1 million. | |||
| 2006-03-31 | restructuring | in_progress | 2003-06-01 | United States | Corporate / Domestic Operations | USD 1 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | 2003 Plan combining retirement and life insurance businesses. Remaining reserves $1 million. | |||
| 2006-03-31 | restructuring | in_progress | 1999-01-01 | 2016-12-31 | United Kingdom | Lincoln UK | USD 6 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | 1999 and 2000 Restructuring Plans involving vacating leased facilities. Remaining reserves $6 million relate to future lease payments. | ||
| 2005-12-31 | restructuring | in_progress | 2005-05-01 | 2006-09-30 | United States | Other Operations (Lincoln Financial Advisors) | USD 7 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Pre-tax charges of $6.9M in 2005, including $4.1M severance and termination benefits and $2.8M rent on abandoned space; $2.7M reserve remaining at year-end. Employee headcount not disclosed. | ||
| 2005-12-31 | restructuring | in_progress | 2003-06-01 | 2006-03-31 | United States | All domestic operations (Lincoln Retirement, Life Insurance, Investment Management, Other Operations) | USD 23 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Pre-tax charges of $22.8M incurred in 2005 under the multi-year 2003 realignment program; cumulative charges through 2005 were $130.4M. Realignment activities completed as of December 31, 2005; remaining reserves relate to lease payments through 2008. Employee headcount not disclosed. | ||
| 2005-12-31 | acquisition_addition | announced | 2005-10-09 | 2006-06-30 | United States | Enterprise (Jefferson-Pilot Corporation) | subsequent_events f5-10k / MiMo-V2.6-Flash-fp8-HTML | Merger agreement signed October 9, 2005, expected to close Q2 2006; no headcount or employee-impact figures disclosed. | |||
| 2005-12-31 | restructuring | completed | 2005-05-01 | 2006-09-30 | United States | Lincoln Financial Advisors (LFA) | USD 7 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | LFA implemented a plan to realign field management and financial planning support areas. Total pre-tax charges of $6.9 million incurred in 2005. Plan expected to be completed by Q3 2006, except for lease payments running through 2008. | ||
| 2005-12-31 | restructuring | completed | 2003-06-01 | 2005-12-31 | United States | Multiple Segments | USD 23 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | 2003 Realignment activities (June/August 2003 announcements). Pre-tax charges incurred in 2005 totaled $22.8 million. All realignment activities completed as of December 31, 2005. Remaining reserves relate to future lease payments. | ||
| 2005-09-30 | restructuring | in_progress | 2005-05-01 | 2006-09-30 | United States | Other Operations (LFA field management and financial planning support) | USD 7 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Pre-tax charges for first nine months of 2005; includes $3.8M severance and $2.8M rent on abandoned office space. Remaining reserves $3.1M at quarter-end; lease payments run through 2008. | ||
| 2005-09-30 | restructuring | in_progress | 2003-06-01 | 2005-12-31 | United States | Lincoln Retirement | USD 16 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Pre-tax charges for nine months ended September 30, 2005 attributable to Lincoln Retirement under the June/August 2003 realignment. | ||
| 2005-09-30 | restructuring | in_progress | 2003-06-01 | 2005-12-31 | United States | Life Insurance | USD 3 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Pre-tax charges for nine months ended September 30, 2005 attributable to Life Insurance segment. | ||
| 2005-09-30 | restructuring | in_progress | 2003-06-01 | 2005-12-31 | United States | Other Operations | USD 0 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Pre-tax charges for nine months ended September 30, 2005 attributable to Other Operations. | ||
| 2005-09-30 | restructuring | in_progress | 2005-05 | 2006-09-30 | United States | Other Operations (LFA field management and financial planning support) | USD 7 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Pre-tax charges for first nine months of 2005 include $3.8M severance/termination benefits and $2.8M rent on abandoned office space. Remaining reserves of $3.1M at 9/30/2005. Lease payments on vacated space run through 2008. Employee headcount not disclosed. | ||
| 2005-09-30 | restructuring | in_progress | 2003-06 | 2005-12-31 | United States | Lincoln Retirement, Life Insurance, Other Operations (June/August 2003 realignment) | USD 20 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Pre-tax charges in first nine months of 2005: Lincoln Retirement $16.3M, Life Insurance $3.2M, Other Operations $0.4M. Total expected annual expense savings $125.0M pre-tax. Employee headcount not disclosed. | ||
| 2005-09-30 | restructuring | in_progress | 2003-01 | 2005-12-31 | United States | Life Insurance (Hartford, CT and Schaumburg, IL realignment) | USD 1 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Pre-tax charges in first nine months of 2005. Restructuring reserve of $0.8M at 9/30/2005. Employee headcount not disclosed. | ||
| 2005-09-30 | restructuring | in_progress | 1999-01 | 2016-12-31 | United Kingdom | Lincoln UK (1999 and 2000 restructuring plans) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Remaining reserves of $6.9M at 9/30/2005 relate to future lease payments on exited properties running through 2016. All other plan activities completed. Employee headcount not disclosed. | |||
| 2005-09-30 | restructuring | in_progress | 2005-05-01 | 2006-09-30 | United States | Lincoln Financial Advisors (LFA) | USD 7 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Plan to realign field management and financial planning support areas. Charges include $3.8M severance and $2.8M rent. Lease payments run through 2008. | ||
| 2005-09-30 | restructuring | in_progress | 2003-01-01 | 2005-12-31 | United States | Life Insurance | USD 1 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Realignment of operations in Hartford, CT and Schaumburg, IL. Includes $1.4M in other costs incurred in first nine months of 2005. | ||
| 2005-09-30 | restructuring | in_progress | 2003-06-01 | 2005-12-31 | United States | Lincoln Retirement | USD 16 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Combining retirement and life insurance businesses. $16.3M of June/August realignment charges incurred in first nine months of 2005. | ||
| 2005-09-30 | restructuring | in_progress | 2003-06-01 | 2005-12-31 | United States | Life Insurance | USD 3 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Combining retirement and life insurance businesses. $3.2M of June/August realignment charges incurred in first nine months of 2005. | ||
| 2005-09-30 | restructuring | in_progress | 2003-06-01 | 2005-12-31 | United States | Other Operations | USD 0 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Combining retirement and life insurance businesses. $0.4M of June/August realignment charges incurred in first nine months of 2005. | ||
| 2005-06-30 | restructuring | in_progress | 2005-05-01 | 2006-09-30 | United States | Other Operations (LFA field management and financial planning support) | USD 4 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Charges include $3.5M employee severance and termination benefits and $0.9M rent on abandoned office space; remaining reserves $3.0M at June 30, 2005. Lease payments on vacated space run through 2008. No employee count disclosed. | ||
| 2005-06-30 | restructuring | in_progress | 2003-01-01 | 2006-06-30 | United States | Life Insurance (Hartford, CT and Schaumburg, IL realignment) | USD 1 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | First six months 2005 charges of $1.3M (other costs); cumulative pre-tax charges through 2004 were $22.4M. Restructuring reserve $0.7M at June 30, 2005. No employee count disclosed. | ||
| 2005-06-30 | restructuring | in_progress | 2003-02-01 | 2006-06-30 | United States | Lincoln Retirement (fixed annuity consolidation, Schaumburg IL into Fort Wayne IN) | USD 0 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | No charges incurred in first six months of 2005; cumulative pre-tax charges through 2004 were $4.3M. Restructuring reserve $0.4M at June 30, 2005. No employee count disclosed. | ||
| 2005-06-30 | restructuring | in_progress | 2003-06-01 | 2006-06-30 | United States | All domestic operations (June/August 2003 realignment) | USD 19 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | First six months 2005 charges include $16.5M write-off of impaired assets, $0.8M severance, $0.6M rent on abandoned space, $1.5M other. Segment split: Retirement $16.0M, Life Insurance $3.3M, Other Operations $0.1M. Reserve $0.9M at June 30, 2005. No employee count disclosed. | ||
| 2005-06-30 | restructuring | in_progress | 1999-01-01 | 2016-12-31 | United Kingdom | Lincoln UK | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Plans relating to Lincoln UK operations involved vacating leased facilities; all other activities complete. Remaining reserves of $7.2M relate to future lease payments on exited properties running through 2016. No employee count disclosed. | |||
| 2005-06-30 | restructuring | in_progress | 2005-05-01 | 2006-09-30 | United States | Lincoln Financial Advisors (LFA) — field management and financial planning support | USD 4 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Pre-tax charges for first six months of 2005 include $3.5M severance/termination and $0.9M rent on abandoned space; $3.0M reserve remaining at 6/30/05; lease payments on vacated space run through 2008. No employee headcount disclosed. | ||
| 2005-06-30 | restructuring | in_progress | 2003-06-01 | 2006-06-30 | United States | Lincoln Retirement, Life Insurance, Investment Management, Other Operations — June/August 2003 realignment | USD 19 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Pre-tax charges incurred in first six months of 2005: Retirement $16.0M, Life Insurance $3.3M, Other Operations $0.1M. Includes $16.5M write-off of impaired assets. Reserve $0.9M at 6/30/05. No employee headcount disclosed. | ||
| 2005-06-30 | restructuring | in_progress | 2003-01-01 | 2006-06-30 | United States | Life Insurance — Hartford, CT and Schaumburg, IL realignment | USD 1 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Pre-tax charge incurred in first six months of 2005. Reserve $0.7M at 6/30/05. No employee headcount disclosed. | ||
| 2005-06-30 | restructuring | in_progress | 1999-01-01 | 2016-12-31 | United Kingdom | Lincoln UK — vacating leased facilities | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Remaining reserves of $7.2M at 6/30/05 relate to future lease payments on exited properties running through 2016. No employee headcount disclosed. | |||
| 2005-06-30 | restructuring | in_progress | 2005-05-01 | 2006-09-30 | United States | Lincoln Financial Advisors (LFA) | USD 4 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Plan to realign field management and financial planning support areas. Charges include $3.5M severance and $0.9M rent on abandoned space. Lease payments run through 2008. | ||
| 2005-06-30 | restructuring | in_progress | 2003-01-01 | 2006-06-30 | United States | Retirement, Life Insurance, Other Operations | USD 21 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Charges incurred in first six months of 2005 for 2003 realignment plans. Includes $16.5M write-off of impaired assets and $0.8M severance. Retirement segment incurred $16.0M, Life Insurance $3.3M, Other Operations $0.1M. | ||
| 2005-03-31 | restructuring | in_progress | 2003-01-01 | 2006-06-30 | United States | Life Insurance | USD 1 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Q1 2005 pre-tax charge of $0.8 million under the January 2003 Life Insurance realignment plan; expected completion 2nd Quarter 2006. No employee counts disclosed in the 10-Q. | ||
| 2005-03-31 | restructuring | in_progress | 2003-06-01 | 2006-03-31 | United States | Retirement, Life Insurance, Investment Management, Other Operations | USD 1 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Q1 2005 pre-tax charge of $1.1 million under the June/August 2003 realignment plan (Retirement $0.6M, Life Insurance $0.1M, Other Operations $0.4M); expected completion 1st Quarter 2006. No employee counts disclosed in the 10-Q. | ||
| 2005-03-31 | restructuring | in_progress | 2003-01-01 | 2006-06-30 | United States | Life Insurance, Retirement, Other Operations | USD 2 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Charges incurred in Q1 2005 related to 2003 realignment plans. Includes severance and rent on abandoned space. Employee count not disclosed for current period charges. | ||
| 2004-12-31 | restructuring | in_progress | 2003-06-01 | 2006-03-31 | United States | All domestic operations | USD 18 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 2003 realignment program (June/August 2003 announcement) with $18.3M pre-tax charges incurred in FY2004; total expected program charges of $127.0M. Expected completion Q1 2006. Employee-affected count not disclosed. | ||
| 2004-12-31 | restructuring | in_progress | 2003-01-01 | 2006-06-30 | United States | Life Insurance | USD 5 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Life Insurance segment realignment (Hartford, CT and Schaumburg, IL) announced January 2003; $4.7M pre-tax charges in FY2004. Expected completion Q2 2006. | ||
| 2004-12-31 | restructuring | in_progress | 2003-02-01 | 2006-06-30 | United States | Lincoln Retirement | USD 0 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Fixed annuity consolidation from Schaumburg, IL into Fort Wayne, IN announced February 2003; $0.1M pre-tax charges in FY2004. Expected completion Q2 2006. | ||
| 2004-12-31 | divestiture_reduction | completed | 2004-09-24 | 2004-09-24 | United Kingdom | Investment Management | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of DIAL (Delaware International Advisors Ltd.), London-based international investment unit, completed September 24, 2004. Headcount removed not disclosed; $22.1B AUM transferred. | |||
| 2004-12-31 | restructuring | in_progress | 2003-01 | 2006-03-31 | United States | Life Insurance | USD 5 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Life Insurance realignment announced Jan 2003. Pre-tax charges incurred in 2004 were $4.7 million. Completion expected Q2 2006. | ||
| 2004-12-31 | restructuring | in_progress | 2003-02 | 2006-03-31 | United States | Lincoln Retirement | USD 0 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Fixed Annuity consolidation announced Feb 2003. Pre-tax charges incurred in 2004 were $0.1 million. Completion expected Q2 2006. | ||
| 2004-12-31 | restructuring | in_progress | 2003-06 | 2006-03-31 | United States | Corporate / All Segments | USD 18 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Realignment activities announced June/August 2003 impacting all domestic operations. Pre-tax charges incurred in 2004 were $18.3 million. Completion expected Q1 2006. | ||
| 2004-12-31 | restructuring | completed | 2002-06 | 2003-09-30 | United States | Lincoln Retirement | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | IT organization reorganization announced Q2 2002. Completed Q3 2003. No charges incurred in 2004. | |||
| 2004-12-31 | restructuring | in_progress | 2001 | 2005-12-31 | United States | Investment Management | USD 0 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Boston Office Consolidation plan from 2001. Pre-tax charges incurred in 2004 were $0.3 million. Completion expected Q4 2005. | ||
| 2004-09-30 | restructuring | in_progress | 45 | 2001-01-01 | 2005-12-31 | United States | Multiple (Schaumburg IL, Boston MA, Fort Wayne IN) | USD 29 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Cumulative positions eliminated through 2004-09-30 were 45 versus 36 planned under the original plan; Schaumburg and Fort Wayne components completed, Boston office consolidation expected to complete in Q4 2005. Restructuring reserve at 2004-09-30 was $0.3 million. | |
| 2004-09-30 | restructuring | in_progress | 2003-01-01 | 2006-06-30 | United States | Life Insurance, Retirement, Investment Management, Other Operations | USD 21 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Charges of $21.3 million pre-tax for the nine months ended 2004-09-30 ($4.5 million for the three months); no employee headcount affected disclosed. Restructuring reserve at 2004-09-30 was $10.1 million. Expected completion: Life Insurance realignment and fixed annuity consolidation Q2 2006, June/August realignment Q1 2006. Annualized expense savings realized through 2004-09-30 of $98.8 million against $124.0 million total expected. | ||
| 2004-09-30 | restructuring | in_progress | 2003-01 | 2006-06-30 | United States | Life Insurance | USD 4 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Pre-tax charges for first nine months of 2004; includes severance, rent on abandoned space, and other costs. No employee headcount disclosed. | ||
| 2004-09-30 | restructuring | in_progress | 2003-02 | 2006-06-30 | United States | Lincoln Retirement | USD 0 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Fixed annuity operations consolidation from Schaumburg, IL into Fort Wayne, IN. Pre-tax charges for first nine months of 2004. No employee headcount disclosed. | ||
| 2004-09-30 | restructuring | in_progress | 2003-06 | 2006-03-31 | United States | Lincoln Retirement; Life Insurance; Investment Management; Other Operations | USD 18 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | June/August 2003 realignment combining retirement and life insurance into a single operating unit. Pre-tax charges for first nine months of 2004 split across segments: Retirement $6.0M, Life Insurance $0.6M, Investment Management $1.6M, Other Operations $9.5M. No employee headcount disclosed. | ||
| 2004-09-30 | restructuring | in_progress | 1999-01-01 | 2016-12-31 | United Kingdom | Lincoln UK | USD 2 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | 1999 and 2000 Lincoln UK Plans. Remaining reserves relate to future lease payments on exited properties. $1.6 million expended in first nine months of 2004. | ||
| 2004-09-30 | restructuring | in_progress | 2001-01-01 | 2005-12-31 | United States | Investment Management / Other Operations | USD 0 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | 2001 Restructuring Plan (Schaumburg, Boston, Fort Wayne). $0.4 million expended in first nine months of 2004. Boston Office Consolidation expected completion 4th Quarter 2005. | ||
| 2004-09-30 | restructuring | in_progress | 2003-01-01 | 2006-06-30 | United States | Life Insurance / Retirement / Investment Management / Other Operations | USD 21 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | 2003 Restructuring Plan (Life Insurance Realignment, Fixed Annuity Consolidation, Realignment June/August 2003). $21.3 million charges in first nine months of 2004. Expected completion 1st Quarter 2006 to 2nd Quarter 2006. | ||
| 2004-06-30 | restructuring | in_progress | 45 | 2001-01-01 | 2005-12-31 | United States | Multiple (Schaumburg IL, Boston MA, Fort Wayne IN) | USD 0 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 45 positions actually eliminated through June 30, 2004 versus 36 planned under original plan; remaining reserve relates to Boston office consolidation (expected 4Q2005) and Fort Wayne operations (expected 3Q2004). | |
| 2004-06-30 | restructuring | in_progress | 2003-01-01 | 2006-06-30 | United States | Life Insurance | USD 3 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | First six months 2004 charge; realignment of Hartford CT and Schaumburg IL operations announced January 2003; expected completion 2nd quarter 2006. | ||
| 2004-06-30 | restructuring | in_progress | 2003-02-01 | 2006-06-30 | United States | Lincoln Retirement (Fixed Annuity) | USD 0 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Consolidation of fixed annuity operations from Schaumburg IL into Fort Wayne IN; expected completion 2nd quarter 2006. | ||
| 2004-06-30 | restructuring | in_progress | 2003-06-01 | 2006-03-31 | United States | Retirement, Life Insurance, Investment Management, Other Operations | USD 14 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Combining retirement and life insurance businesses into a single operating unit; first six months 2004 charge of $14.1M; expected completion 1st quarter 2006. | ||
| 2004-06-30 | restructuring | in_progress | 1999-01-01 | 2016-12-31 | United Kingdom | Lincoln UK | USD 9 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Remaining reserve relates to future lease payments on exited properties expiring through 2016; $0.9M expended in first six months of 2004. | ||
| 2004-06-30 | divestiture_reduction | announced | 2004-05-05 | 2004-09-30 | United Kingdom | Investment Management (London-based international investment unit) | USD 46 (millions) | other f5-10q / GLM-5.3-flash-fp4-HTML | Management buyout of London-based international investment unit; expected after-tax gain of approximately $46 million; headcount affected not disclosed; expected to close in third quarter 2004. | ||
| 2004-06-30 | restructuring | in_progress | 2003-01-01 | 2006-06-30 | United States | Life Insurance | USD 3 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Life Insurance realignment announced January 2003; $2.6M pre-tax charges in first six months of 2004. No employee count disclosed for 2004 activity. | ||
| 2004-06-30 | restructuring | in_progress | 2003-02-01 | 2006-06-30 | United States | Lincoln Retirement | USD 0 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Fixed annuity operations consolidation from Schaumburg, IL to Fort Wayne, IN; $0.1M pre-tax charges in first six months of 2004. | ||
| 2004-06-30 | restructuring | in_progress | 2003-06-01 | 2006-03-31 | United States | Lincoln Retirement, Life Insurance, Investment Management, Other Operations | USD 14 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | June/August 2003 realignment combining retirement and life insurance into a single operating unit; $14.1M pre-tax charges in first six months of 2004 across multiple segments. No employee count disclosed for 2004 activity. | ||
| 2004-06-30 | divestiture_reduction | announced | 2004-05-05 | 2004-09-30 | United Kingdom | Investment Management | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Management buyout agreement for London-based international investment unit; $172M cash consideration. No headcount disclosed. Approximately $28B AUM managed by the unit. | |||
| 2004-06-30 | restructuring | in_progress | 2003-01-01 | 2006-06-30 | Hartford, Connecticut and Schaumburg, Illinois | Life Insurance | USD 3 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Life Insurance Realignment plan initiated Jan 2003. Six months ended June 30, 2004 charges: $2.6M. Expected completion: 2nd Quarter 2006. | ||
| 2004-06-30 | restructuring | in_progress | 2003-02-01 | 2006-06-30 | Schaumburg, Illinois to Fort Wayne, Indiana | Lincoln Retirement | USD 0 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Fixed Annuity Consolidation plan initiated Feb 2003. Six months ended June 30, 2004 charges: $0.1M. Expected completion: 2nd Quarter 2006. | ||
| 2004-06-30 | restructuring | in_progress | 2003-06-01 | 2006-03-31 | Multiple | Retirement, Life Insurance, Investment Management, Other Operations | USD 14 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Realignment June/August 2003 plan. Six months ended June 30, 2004 charges: $14.1M. Expected completion: 1st Quarter 2006. | ||
| 2004-06-30 | restructuring | in_progress | 2001-01-01 | 2005-12-31 | Boston, Massachusetts | Investment Management | USD 0 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Boston Office Consolidation plan initiated 2001. Six months ended June 30, 2004 charges: $0.1M. Expected completion: 4th Quarter 2005. | ||
| 2004-06-30 | restructuring | in_progress | 1999-01-01 | 2016-12-31 | United Kingdom | Lincoln UK | USD 1 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | 1999 and 2000 Lincoln UK Plans. Six months ended June 30, 2004 expenditures: $0.9M. Remaining reserves relate to future lease payments on exited properties expiring through 2016. | ||
| 2004-03-31 | restructuring | in_progress | 27 | 2001 | Schaumburg, Illinois | First Penn-Pacific operations consolidation into Fort Wayne, IN and Hartford, CT | USD 4 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 26 of 27 planned positions eliminated through March 31, 2004; plan marked completed; reserve fully expended in Q1 2004. | ||
| 2004-03-31 | restructuring | in_progress | 2001 | 2005-12-31 | Boston, Massachusetts | Investment Management office consolidation into Philadelphia | USD 1 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | No positions planned for elimination; reserve of $0.3 million remains at March 31, 2004. | ||
| 2004-03-31 | restructuring | in_progress | 9 | 2001 | 2004-06-30 | Fort Wayne, Indiana | Other Operations — consolidation of operations and space | USD 24 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 19 of 9 originally planned positions eliminated through March 31, 2004 (actual exceeded plan); remaining Q2 2004 expenditures under $100,000. | |
| 2004-03-31 | restructuring | in_progress | 2003-01 | 2006-06-30 | Hartford, Connecticut and Schaumburg, Illinois | Life Insurance | USD 2 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Q1 2004 pre-tax charge of $2.3 million; total expected charges $23.0 million; annualized savings realized through Q1 2004 of $20.0 million pre-tax. | ||
| 2004-03-31 | restructuring | in_progress | 2003-02 | 2006-06-30 | Schaumburg, Illinois to Fort Wayne, Indiana | Lincoln Retirement — fixed annuity operations | USD 0 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Q1 2004 pre-tax charge of $0.1 million; total expected charges $5.0 million; annualized savings realized through Q1 2004 of $6.4 million pre-tax. | ||
| 2004-03-31 | restructuring | in_progress | 2003-06 | 2006-03-31 | Retirement ($1.7M), Life Insurance ($0.4M), Investment Management ($1.5M), Other Operations ($5.5M) | USD 9 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Q1 2004 pre-tax charge of $9.1 million, including $6.5 million severance and $1.9 million asset write-offs; total expected charges $97.0 million; annualized savings realized through Q1 2004 of $62.2 million pre-tax. | |||
| 2004-03-31 | restructuring | in_progress | 1999 | United Kingdom | Lincoln UK — vacating leased facilities | USD 10 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Remaining reserve relates to future lease payments on exited properties expiring through 2016; $0.3 million expended in Q1 2004. | |||
| 2004-03-31 | divestiture_reduction | announced | 2004-05-05 | London, United Kingdom | Investment Management — international investment unit | USD 172 (millions) | subsequent_events f5-10q / GLM-5.3-flash-fp4-HTML | Management buyout agreement to sell London-based international investment unit; LNC to receive $172 million cash plus relief of certain obligations and expects ~$46 million after-tax gain. Headcount affected not disclosed. | |||
| 2004-03-31 | restructuring | in_progress | 2006-06-30 | United States | Life Insurance | USD 2 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Q1 2004 pre-tax restructuring charge of $2.3M; total expected program charges $23.0M; no employee count disclosed. | |||
| 2004-03-31 | restructuring | in_progress | 2006-06-30 | United States | Lincoln Retirement (Fixed Annuity) | USD 0 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Q1 2004 pre-tax restructuring charge of $0.1M; total expected program charges $5.0M; no employee count disclosed. | |||
| 2004-03-31 | restructuring | in_progress | 2006-03-31 | United States | Retirement, Life Insurance, Investment Management, Other Operations | USD 9 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Q1 2004 pre-tax restructuring charge of $9.1M; total expected program charges $97.0M; no employee count disclosed. | |||
| 2004-03-31 | divestiture_reduction | announced | 2004-05-05 | United Kingdom | Investment Management (London-based international investment unit) | subsequent_events f5-10q / MiMo-V2.6-Flash-fp8-HTML | Management buyout agreement to sell London-based international investment unit; $172M cash proceeds; expected after-tax gain ~$46M; no headcount disclosed. | ||||
| 2004-03-31 | restructuring | in_progress | 2003-01-01 | 2006-06-30 | Hartford, Connecticut and Schaumburg, Illinois | Life Insurance | USD 2 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Life Insurance Realignment plan announced Jan 2003. Q1 2004 charges include severance, asset write-offs, and rent. | ||
| 2004-03-31 | restructuring | in_progress | 2003-02-01 | 2006-06-30 | Schaumburg, Illinois to Fort Wayne, Indiana | Retirement | USD 0 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Fixed Annuity Consolidation plan announced Feb 2003. Q1 2004 charges primarily severance. | ||
| 2004-03-31 | restructuring | in_progress | 2003-06-01 | 2006-03-31 | Multiple | Retirement, Life Insurance, Investment Management, Other Operations | USD 9 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Realignment plan announced June/Aug 2003 combining retirement and life insurance businesses. Q1 2004 charges include severance, asset write-offs, and rent. | ||
| 2004-03-31 | restructuring | in_progress | 2001-01-01 | 2005-12-31 | Boston, Massachusetts | Investment Management | USD 0 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Boston Office Consolidation plan from 2001. Q1 2004 charges primarily rent on abandoned space. | ||
| 2003-12-31 | restructuring | in_progress | 2003-01 | 2006-06 | United States | Life Insurance | USD 21 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Program announced January 2003 to realign Life Insurance operations in Hartford, CT and Schaumburg, IL. Total expected charges $21.0M; $17.7M pre-tax incurred through 2003-12-31, of which $16.3M expended and $1.4M reserve remained. Positions-eliminated count not disclosed for this plan. | ||
| 2003-12-31 | restructuring | in_progress | 2003-02 | 2006-06 | United States | Lincoln Retirement | USD 5 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Program announced February 2003 to consolidate fixed annuity operations from Schaumburg, IL into Fort Wayne, IN. Total expected charges $5.0M; $4.2M pre-tax incurred through 2003-12-31, of which $3.6M expended and $0.6M reserve remained. Positions-eliminated count not disclosed for this plan. | ||
| 2003-12-31 | restructuring | in_progress | 2003-06 | 2006-03 | United States | All domestic operations (Retirement, Life Insurance, Investment Management, Other Operations) | USD 101 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | June 2003 announcement combined retirement and life insurance into a single operating unit; August 2003 announcement added realignment across all domestic operations. Total expected charges $101.0M; $31.9M pre-tax incurred through 2003-12-31, of which $18.8M expended and $13.1M reserve remained. FY2003 pre-tax charges by segment: Retirement $15.9M, Life Insurance $1.7M, Investment Management $7.1M, Other Operations $7.2M. Positions-eliminated count not disclosed for this plan. | ||
| 2003-12-31 | restructuring | in_progress | 2003-01-01 | 2006-06-30 | United States | Life Insurance | USD 21 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Life Insurance Realignment announced Jan 2003. Total expected charges $21.0M. Completion Q2 2006. | ||
| 2003-12-31 | restructuring | in_progress | 2003-02-01 | 2006-06-30 | United States | Lincoln Retirement | USD 5 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Fixed Annuity Consolidation announced Feb 2003. Total expected charges $5.0M. Completion Q2 2006. | ||
| 2003-12-31 | restructuring | in_progress | 2003-06-01 | 2006-03-31 | United States | Corporate / All Segments | USD 101 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Realignment announced June/Aug 2003 combining retirement and life insurance. Total expected charges $101.0M. Completion Q1 2006. | ||
| 2003-12-31 | restructuring | completed | 2002-06-01 | 2003-09-30 | United States | Lincoln Retirement | USD 2 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | IT organization reorganization announced Q2 2002. Completed Q3 2003. Charge $1.6M. | ||
| 2003-12-31 | restructuring | completed | 13 | 2000-06-01 | 2001-12-31 | United States | Investment Management | USD 4 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Vantage downsizing plan. 13 positions eliminated. Completed Q4 2001. | |
| 2003-12-31 | restructuring | completed | 19 | 2000-12-01 | 2002-09-30 | United States | Investment Management | USD 4 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Lincoln Investment Management downsizing. 19 positions eliminated. Completed Q3 2002. | |
| 2003-12-31 | restructuring | in_progress | 671 | 2000-09-01 | 2015-12-31 | United Kingdom | Lincoln UK | USD 99 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Lincoln UK exit of direct sales and consolidation. 671 positions eliminated. Lease payments continue until 2016. | |
| 2003-12-31 | restructuring | completed | 30 | 2001-03-01 | 2002-03-31 | United States | Lincoln Retirement | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Syracuse operations consolidation. 30 positions eliminated. Completed Q1 2002. | ||
| 2003-12-31 | restructuring | completed | 26 | 2001-06-01 | 2002-06-30 | United States | Lincoln Retirement / Life Insurance | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Schaumburg operations elimination. 26 positions eliminated. Completed Q2 2002. | ||
| 2003-12-31 | restructuring | completed | 62 | 2001-06-01 | 2003-03-31 | United States | Other Operations (LFD) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | LFD reorganization Q2 2001. 62 positions eliminated. Completed Q1 2003. | ||
| 2003-12-31 | restructuring | completed | 36 | 2001-12-01 | 2002-12-31 | United States | Life Insurance | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Life Insurance Hartford reorganization. 36 positions eliminated. Completed Q4 2002. | ||
| 2003-12-31 | restructuring | completed | 19 | 2001-12-01 | 2004-06-30 | United States | Corporate | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Fort Wayne operations consolidation. 19 positions eliminated. Expected completion Q2 2004. | ||
| 2003-12-31 | restructuring | in_progress | 2003-01 | 2006-06-30 | United States (Hartford, CT and Schaumburg, IL) | Life Insurance | USD 18 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Realignment of Hartford and Schaumburg operations announced January 2003. Charge shown is the FY2003 pre-tax amount incurred; total expected program charge is $21.0 million. Number of positions to be eliminated was not disclosed. | ||
| 2003-12-31 | restructuring | in_progress | 2003-02 | 2006-06-30 | United States (Schaumburg, IL consolidated into Fort Wayne, IN) | Lincoln Retirement | USD 4 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Consolidation of fixed annuity operations announced February 2003. Charge shown is the FY2003 pre-tax amount incurred; total expected program charge is $5.0 million. Positions affected not disclosed. | ||
| 2003-12-31 | restructuring | in_progress | 2003-06 | 2006-03-31 | United States | Lincoln Retirement | USD 16 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sub-component of the combined June/August 2003 realignment; charge is the FY2003 pre-tax amount reported to this segment. Program-wide FY2003 charge $31.9 million, total expected $101.0 million. Additional activities announced August 2003. | ||
| 2003-12-31 | restructuring | in_progress | 2003-06 | 2006-03-31 | United States | Life Insurance | USD 2 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sub-component of the combined June/August 2003 realignment; charge is the FY2003 pre-tax amount reported to this segment. | ||
| 2003-12-31 | restructuring | in_progress | 2003-06 | 2006-03-31 | United States | Investment Management | USD 7 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sub-component of the combined June/August 2003 realignment; charge is the FY2003 pre-tax amount reported to this segment. | ||
| 2003-12-31 | restructuring | in_progress | 2003-06 | 2006-03-31 | United States | Other Operations | USD 7 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sub-component of the combined June/August 2003 realignment; charge is the FY2003 pre-tax amount reported to this segment. | ||
| 2003-12-31 | restructuring | completed | 49 | 2002-06 | 2003-09-30 | United States | Lincoln Retirement | USD 1 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | IT organization reorganization announced Q2 2002, completed Q3 2003. Headcount is cumulative positions eliminated through 2003-12-31 (program inception 2002); charge shown is the amount expended during 2003, with the full $1.6 million program charge recognized in 2002. | |
| 2003-09-30 | restructuring | in_progress | 2003-01-01 | 2006-06-30 | United States (Hartford, CT and Schaumburg, IL) | Life Insurance | USD 14 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Total expected charges $20.0 million; $14.2 million incurred through September 30, 2003 including $4.2 million severance. Restructuring reserve of $2.6 million at quarter-end. | ||
| 2003-09-30 | restructuring | in_progress | 2003-02-01 | 2006-06-30 | United States (Schaumburg, IL to Fort Wayne, IN) | Lincoln Retirement — fixed annuity operations | USD 4 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Total expected charges $5.6 million; $3.5 million incurred through September 30, 2003 including $1.1 million severance. Reserve at quarter-end was zero. | ||
| 2003-09-30 | restructuring | in_progress | 2003-06-01 | 2006-06-30 | United States | Combined retirement and life insurance businesses; all domestic operations (June/August 2003 realignment) | USD 21 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Total expected charges $109.4 million; $21.1 million incurred through September 30, 2003 including $19.0 million severance. Reserve of $15.1 million at quarter-end. Charges reported across Retirement ($11.1M), Life Insurance ($1.1M), Investment Management ($5.3M), Other Operations ($3.6M). | ||
| 2003-09-30 | restructuring | in_progress | 1,000 | 2003-08-04 | 2006-06-30 | United States | All domestic operations | USD 135 (millions) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Job eliminations expected to range between 800 and 1,000, including approximately 500 that occurred in the nine months ended September 30, 2003. Expected pre-tax charges of $135 million over three years ($75M in 2003, $55M in 2004, $5M in 2005); expected pre-tax savings of $30M in 2003, $80M in 2004, $105M in 2005; plus growth investments of $15M/$30M/$35M. Estimated after-tax net charge of $39M in 2003, $3M in 2004, net savings of $42M in 2005. Upper bound of disclosed range used for employees_affected_count. | |
| 2003-09-30 | restructuring | in_progress | 119 | 1999-01-01 | 2016-12-31 | United Kingdom | Lincoln UK | USD 10 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 112 of 119 positions eliminated through September 30, 2003; reserve of $1.4 million remains, substantially complete with lease payments through 2016. | |
| 2003-09-30 | restructuring | in_progress | 671 | 2000-01-01 | 2015-12-31 | United Kingdom | Lincoln UK — exit of direct sales and consolidation of Uxbridge office into Barnwood | USD 99 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | All 671 positions eliminated; reserve of $8.4 million remains, substantially complete with lease payments through 2015. | |
| 2003-09-30 | restructuring | in_progress | 99 | 2001-01-01 | 2005-12-31 | United States | Schaumburg (FPP), Boston office consolidation, LFD, Fort Wayne operations | USD 33 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 107 positions eliminated against 99 planned; reserve of $0.7 million remains. Expected completion: Schaumburg Q1 2004, Boston Q4 2005, Fort Wayne Q2 2004; LFD plan completed. | |
| 2003-09-30 | restructuring | completed | 49 | 2002-04-01 | 2003-09-30 | United States | Lincoln Retirement — IT organization reorganization | USD 2 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | All 49 positions eliminated; reserve fully expended by September 30, 2003. | |
| 2003-09-30 | restructuring | in_progress | 2003-01 | 2006-06-30 | United States | Life Insurance | USD 14 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Life Insurance segment realignment of Hartford, CT and Schaumburg, IL operations. Charge is pre-tax incurred through 2003-09-30. Program-level total of approximately 500 job eliminations occurred over the nine months ended 2003-09-30 across all three 2003 sub-programs; not broken out by sub-component. | ||
| 2003-09-30 | restructuring | in_progress | 2003-02 | 2006-06-30 | United States | Lincoln Retirement | USD 4 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Fixed annuity operations consolidation from Schaumburg, IL into Fort Wayne, IN. Charge is pre-tax incurred through 2003-09-30. Program-level total of approximately 500 job eliminations occurred over the nine months ended 2003-09-30 across all three 2003 sub-programs; not broken out by sub-component. | ||
| 2003-09-30 | restructuring | in_progress | 2003-06 | 2006-03-31 | United States | Multiple segments (Retirement, Life Insurance, Investment Management, Other Operations) | USD 21 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Combination of retirement and life insurance businesses into a single operating unit announced June 2003, with additional realignment actions announced August 2003. Charge is pre-tax incurred through 2003-09-30. Program-level total of approximately 500 job eliminations occurred over the nine months ended 2003-09-30 across all three 2003 sub-programs; not broken out by sub-component. Full program expected to eliminate 800–1,000 positions with total charges of $135M over three years. | ||
| 2003-09-30 | restructuring | in_progress | 800 | 2003-06-01 | 2006-06-30 | United States | Life Insurance, Lincoln Retirement, Investment Management, Other Operations | USD 135 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Job eliminations expected to range between 800 and 1,000; approximately 500 occurred in the nine-month period ended September 30, 2003. | |
| 2003-06-30 | restructuring | in_progress | 119 | 1999 | 2016 | United Kingdom | Lincoln UK | USD 10 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Streamlining Lincoln UK operations; 112 positions eliminated through June 30, 2003; reserve of $1.6 million at June 30, 2003 | |
| 2003-06-30 | restructuring | in_progress | 671 | 2000 | 2015 | United Kingdom | Lincoln UK | USD 99 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Exit of direct sales and sales support operations and consolidation of Uxbridge home office with Barnwood; all 671 positions eliminated through June 30, 2003; reserve of $8.7 million | |
| 2003-06-30 | restructuring | in_progress | 27 | 2001 | 2004-03-31 | United States | First Penn-Pacific (Schaumburg, Illinois) | USD 4 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Elimination of duplicative functions absorbed into Lincoln Retirement and Life Insurance operations; 26 positions eliminated through June 30, 2003 | |
| 2003-06-30 | restructuring | in_progress | 0 | 2001 | 2005-12-31 | United States | Investment Management (Boston office consolidation) | USD 1 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Consolidation of Boston investment and marketing office with Philadelphia operations; no positions to be eliminated under original plan | |
| 2003-06-30 | restructuring | completed | 63 | 2001 | 2001-12-31 | United States | Lincoln Financial Distributors (LFD) | USD 4 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | LFD channel oversight repositioning; 62 positions eliminated through June 30, 2003; plan completed | |
| 2003-06-30 | restructuring | in_progress | 9 | 2001 | 2004-06-30 | United States | Fort Wayne, Indiana operations (Other Operations) | USD 24 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Consolidation of operations and space; 19 positions eliminated through June 30, 2003, exceeding original plan of 9 | |
| 2003-06-30 | restructuring | in_progress | 49 | 2002-06 | 2003-09-30 | United States | Lincoln Retirement (IT organization) | USD 2 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Reorganization of IT organization to achieve common annuity administrative platform; all 49 positions eliminated through June 30, 2003 | |
| 2003-06-30 | restructuring | in_progress | 147 | 2003-01 | 2006-06-30 | United States | Life Insurance (Hartford, CT and Schaumburg, IL realignment) | USD 13 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 135 of 147 positions eliminated through June 30, 2003; reserve of $7.3 million at June 30, 2003 | |
| 2003-06-30 | restructuring | in_progress | 64 | 2003-02 | 2006-06-30 | United States | Lincoln Retirement (fixed annuity consolidation, Schaumburg to Fort Wayne) | USD 3 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 52 of 64 positions eliminated through June 30, 2003; consolidation completed in second quarter 2003 | |
| 2003-06-30 | restructuring | in_progress | 2003-06 | United States | Retirement and Life Insurance combination into single operating unit | USD 3 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Positions to be eliminated to be determined; 3 positions eliminated through June 30, 2003 | |||
| 2003-06-30 | restructuring | announced | 900 | 2003-08-04 | 2005-12-31 | United States | All domestic operations | USD 135 (millions) | subsequent_events f5-10q / GLM-5.3-flash-fp4-HTML | Job eliminations expected between 800 and 1,000 (midpoint 900 used), including approximately 200 occurring during 2003; charges of ~$95 million in 2003, $30 million in 2004, $10 million in 2005; expected pre-tax savings of $25 million (2003), $80 million (2004), $105 million (2005); includes previously announced realignments | |
| 2003-06-30 | restructuring | in_progress | 147 | 2003-01 | 2006-06-30 | United States | Life Insurance | USD 13 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Pre-tax total plan charge. 135 positions eliminated through June 30, 2003. Realignment of Hartford, CT and Schaumburg, IL operations. | |
| 2003-06-30 | restructuring | in_progress | 64 | 2003-02 | 2006-06-30 | United States | Lincoln Retirement — Fixed Annuities | USD 3 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Pre-tax total plan charge. 52 positions eliminated through June 30, 2003. Consolidation of fixed annuity operations from Schaumburg, IL into Fort Wayne, IN. | |
| 2003-06-30 | restructuring | in_progress | 2003-06 | United States | Retirement and Life Insurance (combined unit) | USD 3 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Pre-tax total plan charge. Number of positions to be eliminated is TBD; 3 positions eliminated through June 30, 2003. Combination of retirement and life insurance businesses into a single operating unit. | |||
| 2003-06-30 | restructuring | announced | 2003-08-04 | United States | All domestic operations | USD 135 (millions) | subsequent_events f5-10q / MiMo-V2.6-Flash-fp8-HTML | Total pre-tax charges of $135M over three years ($95M in 2003, $30M in 2004, $10M in 2005), including $19M already incurred through June 30, 2003. Expected job eliminations range from 800 to 1,000, including approximately 200 already occurred during 2003. Expected pre-tax savings: $25M in 2003, $80M in 2004, $105M in 2005. Additional pre-tax growth investments of $15M (2003), $30M (2004), $35M (2005). After-tax net impact: charge of $55M in 2003, savings of $13M in 2004, savings of $39M in 2005. This program includes the previously announced 2003 restructuring sub-components above. | |||
| 2003-06-30 | restructuring | in_progress | 147 | 2003-01-01 | 2006-06-30 | Hartford, Connecticut and Schaumburg, Illinois | Life Insurance | USD 13 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Life Insurance segment realignment to enhance productivity and efficiency. 135 positions eliminated through June 30, 2003. | |
| 2003-06-30 | restructuring | completed | 64 | 2003-02-01 | 2006-06-30 | Schaumburg, Illinois to Fort Wayne, Indiana | Lincoln Retirement | USD 3 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Consolidation of fixed annuity operations. 52 positions eliminated through June 30, 2003. | |
| 2003-06-30 | restructuring | in_progress | 2003-06-01 | Domestic | Retirement and Life Insurance | USD 3 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Combination of retirement and life insurance businesses into a single operating unit. 3 positions eliminated through June 30, 2003. Total positions to be determined. | |||
| 2003-06-30 | restructuring | announced | 800 | 2003-08-04 | Domestic | All Domestic Operations | USD 95 (millions) | subsequent_events f5-10q / Qwen3.6-27B-Q8_0 | Further action to position LNC for future growth impacting all domestic operations. Job eliminations expected to range between 800 and 1,000, including approximately 200 which have occurred during 2003. | ||
| 2003-03-31 | restructuring | in_progress | 119 | 1999-01-01 | 2016-12-31 | United Kingdom | Lincoln UK | USD 10 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Streamlining Lincoln UK operations; 112 positions eliminated through March 31, 2003; reserve of $1.8 million at quarter-end | |
| 2003-03-31 | restructuring | in_progress | 671 | 2000-01-01 | 2015-12-31 | United Kingdom | Lincoln UK | USD 99 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Exit of direct sales and sales support operations and consolidation of Uxbridge home office with Barnwood; all 671 positions eliminated; reserve $9.3 million at quarter-end | |
| 2003-03-31 | restructuring | in_progress | 27 | 2001-01-01 | 2004-03-31 | Schaumburg, Illinois | First Penn-Pacific | USD 4 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Elimination of duplicative functions absorbed into Fort Wayne and Hartford operations; 26 positions eliminated through March 31, 2003 | |
| 2003-03-31 | restructuring | in_progress | 2001-01-01 | 2005-12-31 | Boston, Massachusetts | Investment Management | USD 1 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Consolidation of Boston investment and marketing office with Philadelphia operations; no positions specified | ||
| 2003-03-31 | restructuring | completed | 63 | 2001-10-01 | Lincoln Financial Distributors (LFD) | USD 4 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | LFD channel oversight repositioning; 62 positions eliminated through March 31, 2003; plan completed | |||
| 2003-03-31 | restructuring | in_progress | 9 | 2001-01-01 | 2004-06-30 | Fort Wayne, Indiana | Other Operations | USD 24 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Consolidation of operations and space; 19 positions eliminated through March 31, 2003 | |
| 2003-03-31 | restructuring | in_progress | 49 | 2002-04-01 | 2003-09-30 | Lincoln Retirement (IT organization) | USD 2 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Reorganization of internal IT organization; all 49 positions eliminated; reserve $0.4 million at quarter-end | ||
| 2003-03-31 | restructuring | in_progress | 148 | 2003-01-01 | 2003-12-31 | Hartford, Connecticut and Schaumburg, Illinois | Life Insurance | USD 6 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Realignment to enhance productivity and scalability; expected costs $15-17 million after-tax during 2003; $4.1 million after-tax ($6.4 million pre-tax) incurred through March 31, 2003, including $4.5 million pre-tax severance for 148 positions and $1.8 million software write-off | |
| 2003-03-31 | restructuring | announced | 2003-02-01 | 2003-12-31 | Schaumburg, Illinois to Fort Wayne, Indiana | Lincoln Retirement (fixed annuity operations) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Consolidation of fixed annuity operations; expected costs $3-5 million after-tax during 2003; no expenses incurred through March 31, 2003 | |||
| 2003-03-31 | restructuring | in_progress | 148 | 2003-01 | 2003-12-31 | United States | Life Insurance | USD 6 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Realignment of Hartford, CT and Schaumburg, IL operations. Through March 31, 2003, $6.4M pre-tax expense incurred including $4.5M severance for 148 positions; $5.5M qualified as FAS 146 restructuring charge, remainder recorded as operating expense. Total expected after-tax cost of $15-17M during 2003. | |
| 2003-03-31 | restructuring | announced | 2003-02 | 2003-12-31 | United States | Lincoln Retirement | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Consolidation of fixed annuity operations from Schaumburg, IL into Fort Wayne, IN. Expected after-tax cost of $3-5M during 2003. No expenses incurred through March 31, 2003. | |||
| 2003-03-31 | restructuring | in_progress | 49 | 2002 | 2003-09-30 | United States | Lincoln Retirement | USD 2 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Reorganization of Lincoln Retirement IT organization to align internal activities with service providers. Plan total $1.6M pre-tax. All 49 positions eliminated through March 31, 2003. Reserve of $0.4M remaining. | |
| 2003-03-31 | restructuring | in_progress | 26 | 2001 | 2004-03-31 | United States | First Penn-Pacific (FPP) | USD 4 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Elimination of duplicative functions in Schaumburg, IL operations of First Penn-Pacific, absorbed into Lincoln Retirement and Life Insurance segments. 27 positions planned, 26 actual through March 31, 2003. Reserve of $0.2M remaining. | |
| 2003-03-31 | restructuring | in_progress | 0 | 2001 | 2005-12-31 | United States | Investment Management | USD 1 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Consolidation of Boston, MA investment and marketing office with Philadelphia, PA operations to eliminate redundant facilities. No positions eliminated through March 31, 2003. Reserve of $0.4M remaining. | |
| 2003-03-31 | restructuring | completed | 62 | 2001 | United States | Other Operations | USD 4 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Combination of LFD channel oversight and expansion of wholesaler customer base in non-productive territories. 63 positions planned, 62 actual through March 31, 2003. Plan marked as completed. | ||
| 2003-03-31 | restructuring | in_progress | 19 | 2001 | 2004-06-30 | United States | Other Operations | USD 24 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Consolidation of operations and space in Fort Wayne, IN. 9 positions planned, 19 actual through March 31, 2003. Reserve of $0.5M remaining. | |
| 2003-03-31 | restructuring | in_progress | 112 | 1999 | 2016-12-31 | United Kingdom | Lincoln UK | USD 10 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Streamlining of Lincoln UK operations. 119 positions planned, 112 actual through March 31, 2003. Reserve of $1.8M remaining. Includes severance and abandoned office space rent. | |
| 2003-03-31 | restructuring | in_progress | 671 | 2000 | 2015-12-31 | United Kingdom | Lincoln UK | USD 99 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Exit of direct sales and sales support operations of Lincoln UK and consolidation of Uxbridge home office with Barnwood. All 671 positions eliminated through March 31, 2003. Reserve of $9.3M remaining. | |
| 2003-03-31 | restructuring | in_progress | 148 | 2003-01-01 | Hartford, Connecticut and Schaumburg, Illinois | Life Insurance | USD 6 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Pre-tax costs of $4.5 million for severance and termination benefits related to the elimination of 148 positions, plus write-offs and other costs. | ||
| 2003-03-31 | restructuring | in_progress | 2003-02-01 | Schaumburg, Illinois to Fort Wayne, Indiana | Lincoln Retirement | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Consolidation of fixed annuity operations. Expected after-tax costs of $3-$5 million. No expenses incurred through March 31, 2003. | ||||
| 2002-12-31 | acquisition_addition | completed | 2002-08-30 | 2002-08-30 | United States | Lincoln Retirement | USD 22 (millions) | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Acquisition of The Administrative Management Group, Inc. for $21.6M cash; headcount not disclosed; contingent payments up to $14M over 2003-2006 | ||
| 2002-12-31 | divestiture_reduction | completed | 2002-07-01 | 2002-07-01 | United Kingdom | Lincoln UK | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | Approximately 500 employees transferred to Capita when customer service and policy administration was outsourced in Q3 2002; exact date not disclosed | |||
| 2002-12-31 | restructuring | completed | 49 | 2002-06-30 | 2003-09-30 | United States | Lincoln Retirement — Information Technology | USD 2 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | IT organization reorganization; $1.4M severance plus $0.2M outplacement; $0.9M expended through 2002-12-31; $0.7M reserve remaining | |
| 2002-12-31 | restructuring | completed | 30 | 2001-03-31 | 2002-03-31 | United States | Lincoln Retirement / Life Insurance — Syracuse operations consolidation | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Plan initiated Q1 2001, completed Q1 2002; $1.3M expended; 30 positions eliminated; $0.3M over original reserve | ||
| 2002-12-31 | restructuring | completed | 26 | 2001-06-30 | 2002-12-31 | United States | Lincoln Retirement / Life Insurance — Schaumburg, Illinois operations | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Plan initiated Q2 2001, completed Q4 2002; $3.7M expended; 26 positions eliminated; $0.3M reserve remaining | ||
| 2002-12-31 | restructuring | completed | 36 | 2001-12-31 | 2002-12-31 | United States | Life Insurance — Hartford, Connecticut operations | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Plan initiated Q4 2001, completed Q4 2002; $2.3M expended; 36 positions eliminated | ||
| 2002-12-31 | restructuring | completed | 62 | 2001-12-31 | 2002-12-31 | United States | Other Operations — Lincoln Financial Distributors (LFD) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Plan initiated Q4 2001, completed Q4 2002; $3.8M expended; 62 positions eliminated; less than $0.1M reserve remaining | ||
| 2002-12-31 | restructuring | in_progress | 9 | 2001-12-31 | 2004-12-31 | United States | Other Operations — Fort Wayne, Indiana operations consolidation | USD 24 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Plan initiated Q4 2001; $22.3M expended through 2002; 19 positions eliminated cumulative; $0.6M reserve remaining; $1.5M rent reserve released in Q3 2002 | |
| 2002-12-31 | restructuring | in_progress | 2000-09-30 | 2015-12-31 | United Kingdom | Lincoln UK — exit of direct sales operations and Uxbridge consolidation | USD 99 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Multi-year program initiated 2000; 671 positions eliminated cumulative; $88.0M expended through 2002; $9.7M reserve remaining; $1.7M released in Q4 2002 | ||
| 2002-12-31 | restructuring | in_progress | 1999-12-31 | 2016-12-31 | United Kingdom | Lincoln UK — operations streamlining | USD 10 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Plan initiated Q4 1999; 112 positions eliminated cumulative; $7.5M expended through 2002; $2.5M reserve remaining | ||
| 2002-12-31 | restructuring | completed | 2000-12-31 | 2002-09-30 | United States | Investment Management — Lincoln Investment Management consolidation | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Plan completed Q3 2002; 19 positions eliminated cumulative; $3.5M expended; $0.4M reserve released | |||
| 2002-12-31 | restructuring | completed | 2000-12-31 | 2002-09-30 | United States | Other Operations — corporate center downsizing | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Plan completed Q3 2002 upon lease termination; $0.2M reserve reversed | |||
| 2002-12-31 | restructuring | announced | 2003-01-31 | 2004-12-31 | United States | Life Insurance — Hartford, Connecticut and Schaumburg, Illinois realignment | USD 16 (millions) | subsequent_events f5-10k / MiMo-V2.6-Flash-fp8-HTML | Announced January 2003; $15-17M after-tax cost in 2003; expected pre-tax savings of $15-20M annually beginning 2004; midpoint of range used for charge value | ||
| 2002-12-31 | restructuring | announced | 2003-02-28 | 2003-12-31 | United States | Lincoln Retirement — fixed annuity operations consolidation from Schaumburg to Fort Wayne | USD 4 (millions) | subsequent_events f5-10k / MiMo-V2.6-Flash-fp8-HTML | Announced February 2003; $3-5M after-tax cost in 2003; midpoint of range used; expected pre-tax savings of $4-6M annually beginning Q3 2003 | ||
| 2002-12-31 | restructuring | completed | 119 | 1999-Q4 | 2002-12-31 | United Kingdom | Lincoln UK | USD 10 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | 1999 plan to reduce operating costs by consolidating and eliminating redundant staff functions and facilities. 119 positions eliminated. Plan completed except for lease payments. | |
| 2002-12-31 | restructuring | completed | 671 | 2000-Q3 | 2002-12-31 | United Kingdom | Lincoln UK | USD 99 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | 2000 plan to exit all direct sales and sales support operations and consolidate Uxbridge home office with Barnwood. 671 positions eliminated. Pre-tax charges of $53.5M (Q3) and $45.9M (Q4). | |
| 2002-12-31 | restructuring | completed | 13 | 2000-Q2 | 2001-Q4 | United States | Investment Management | USD 3 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | 2000 Vantage restructuring plan. 13 positions eliminated. Completed in Q4 2001. | |
| 2002-12-31 | restructuring | completed | 19 | 2000-Q4 | 2002-Q3 | United States | Investment Management | USD 3 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | 2000 Lincoln Investment Management restructuring. 19 positions eliminated. Completed in Q3 2002. | |
| 2002-12-31 | restructuring | completed | 30 | 2001-Q1 | 2002-Q1 | United States | Lincoln Retirement | USD 1 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | 2001 Syracuse restructuring plan. 30 positions eliminated. Completed in Q1 2002. | |
| 2002-12-31 | restructuring | completed | 26 | 2001-Q2 | 2002-Q4 | United States | Lincoln Retirement / Life Insurance | USD 4 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | 2001 Schaumburg, Illinois restructuring plan (First Penn-Pacific). 26 positions eliminated. Completed in Q4 2002. | |
| 2002-12-31 | restructuring | completed | 26 | 2001-Q2 | 2002-Q4 | United States | Other Operations (LFD) | USD 2 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | 2001 LFD restructuring plan initiated in Q2. 26 positions eliminated. Completed in Q4 2002. | |
| 2002-12-31 | restructuring | completed | 36 | 2001-Q4 | 2002-Q4 | United States | Life Insurance | USD 2 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | 2001 Life Insurance segment restructuring plan. 36 positions eliminated. Completed in Q4 2002. | |
| 2002-12-31 | restructuring | completed | 62 | 2001-Q4 | 2002-Q4 | United States | Other Operations (LFD) | USD 4 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | 2001 LFD restructuring plan initiated in Q4. 62 positions eliminated. Completed in Q4 2002. | |
| 2002-12-31 | restructuring | completed | 19 | 2001-Q4 | 2002-Q4 | United States | Other Operations (Corporate) | USD 22 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | 2001 Fort Wayne operations consolidation. 19 positions eliminated. Completed in Q4 2002. | |
| 2002-12-31 | restructuring | in_progress | 49 | 2002-Q2 | 2003-Q3 | United States | Lincoln Retirement | USD 2 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | 2002 Lincoln Retirement IT organization reorganization. 49 positions eliminated. Expected completion Q3 2003. | |
| 2002-12-31 | acquisition_addition | completed | 2002-08-30 | 2002-08-30 | United States | Lincoln Retirement | USD 22 (millions) | business_combinations_footnote f5-10k / Qwen3.6-27B-Q8_0 | Acquisition of The Administrative Management Group, Inc. (AMG). Headcount not explicitly disclosed. | ||
| 2002-12-31 | divestiture_reduction | completed | 2001-12-07 | 2001-12-07 | Global | Reinsurance (Other Operations) | discontinued_operations_footnote f5-10k / Qwen3.6-27B-Q8_0 | Sale of reinsurance operations to Swiss Re. Headcount not explicitly disclosed. | |||
| 2002-12-31 | divestiture_reduction | completed | 500 | 2002-Q3 | 2002-Q3 | United Kingdom | Lincoln UK | Item_1_Business f5-10k / Qwen3.6-27B-Q8_0 | Outsourcing of customer service and policy administration to Capita Group. Transfer of approximately 500 employees. | ||
| 2002-09-30 | restructuring | completed | 118 | 1998 | 2002-09-30 | United States | Corporate Center | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 118 positions eliminated through September 30, 2002; plan completed in Q4 2000 except lease payments on abandoned facilities, which ended in Q3 2002 when the lease terminated. | ||
| 2002-09-30 | restructuring | completed | 34 | 1999 | 2000-12-31 | United States | Lynch & Mayer, Inc. | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 34 positions eliminated; plan completed in Q4 2000. | ||
| 2002-09-30 | restructuring | completed | 39 | 1999 | 2001-12-31 | United States | HMO excess-of-loss reinsurance programs | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 39 positions eliminated; remaining reserve of $0.2 million transferred to Swiss Re in Q4 2001 with the reinsurance business sale. | ||
| 2002-09-30 | restructuring | in_progress | 112 | 1999 | United Kingdom | Lincoln UK | USD 3 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 112 positions eliminated through September 30, 2002; $2.6 million remains in reserve; lease payments on closed facilities continue until 2016. | ||
| 2002-09-30 | restructuring | completed | 13 | 2000 | 2001-12-31 | United States | Vantage Global Advisors, Inc. | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 13 positions eliminated; plan completed in Q4 2001. | ||
| 2002-09-30 | restructuring | in_progress | 671 | 2000 | United Kingdom | Lincoln UK | USD 11 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 671 positions eliminated through September 30, 2002; $10.8 million remains in reserve; lease payments on abandoned office facilities continue until 2015. | ||
| 2002-09-30 | restructuring | completed | 19 | 2000 | 2002-09-30 | United States | Lincoln Investment Management | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 19 positions eliminated; all expenditures and write-offs completed in Q3 2002 and $0.4 million of reserve released. | ||
| 2002-09-30 | restructuring | completed | 30 | 2001 | 2002-03-31 | United States | Lincoln Life & Annuity Company of New York (Syracuse) consolidation into Lincoln Retirement | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 30 positions eliminated; plan completed in Q1 2002; total expended exceeded the original reserve by $0.3 million. | ||
| 2002-09-30 | restructuring | in_progress | 150 | 2001 | United States | Multiple plans: FPP, LFD, Life Insurance (Hartford), Boston investment office, Fort Wayne | USD 3 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 150 positions eliminated through September 30, 2002 across six 2001 plans; $3.1 million remains in reserve; completion dates range from Q2 2002 to Q4 2005. | ||
| 2002-09-30 | restructuring | in_progress | 49 | 2002 | 2003-09-30 | United States | Lincoln Retirement — internal information technology organization | USD 2 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 49 positions eliminated; aggregate pre-tax costs of $1.6 million ($1.4 million severance, $0.2 million outplacement); $0.4 million expended through September 30, 2002 with $1.2 million reserve remaining. | |
| 2002-09-30 | other | announced | 500 | 2002 | United Kingdom | Lincoln UK — customer service and policy administration | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Lincoln UK agreed in Q3 2002 to outsource customer service and policy administration to the Capita Group, Plc, involving the transfer of approximately 500 employees to Capita; purpose was to reduce operational risk and cost variability. | |||
| 2002-09-30 | restructuring | in_progress | 49 | 2002-06-30 | 2003-09-30 | United States | Lincoln Retirement — Information Technology | USD 2 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Pre-tax costs include $1.4M severance and $0.2M outplacement; $0.4M expended through 2002-09-30. Plan announced in Q2 2002 to reorganize IT organization. | |
| 2002-09-30 | restructuring | in_progress | 2001-12-31 | 2004-12-31 | United States | Multiple segments — 2001 restructuring plans (Syracuse, FPP, LFD, Life Insurance, Boston, Fort Wayne) | USD 38 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Aggregate pre-tax charge for 2001 plans; 150 positions eliminated across six remaining plans through 2002-09-30; $3.1M reserve balance remains. Syracuse plan completed Q1 2002. | ||
| 2002-09-30 | restructuring | in_progress | 2000-12-31 | 2016-12-31 | United Kingdom | Lincoln UK — direct sales and home office consolidation | USD 107 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Aggregate pre-tax charge for 2000 plans; 671 positions eliminated cumulatively through 2002-09-30; $10.8M reserve remains. Lease payments on abandoned facilities continue until 2015. | ||
| 2002-09-30 | other | completed | 500 | 2002-09-30 | United Kingdom | Lincoln UK — customer service and policy administration | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Approximately 500 employees transferred to Capita Group, Plc under outsourcing agreement to reduce operational risk and cost variability. | |||
| 2002-09-30 | acquisition_addition | completed | 2002-08-30 | United States | Lincoln Retirement — employee benefits recordkeeping | USD 21 (millions) | business_combinations_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Acquisition of The Administrative Management Group, Inc. for $21.3M cash; headcount not disclosed. Contingent payments up to $14M over 2003-2006. | |||
| 2002-09-30 | restructuring | in_progress | 49 | 2002-04-01 | 2003-09-30 | United States | Lincoln Retirement - Information Technology | USD 2 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Reorganization of IT organization to align activities and reduce costs. Charge includes $1.4M severance and $0.2M outplacement. | |
| 2002-09-30 | restructuring | in_progress | 2001-04-01 | 2004-03-31 | United States | First Penn-Pacific (FPP) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Elimination of duplicative functions in Schaumburg, IL operations. 150 positions eliminated across six remaining plans through Sept 30, 2002. | |||
| 2002-09-30 | restructuring | in_progress | 2001-04-01 | 2003-03-31 | United States | Life Insurance | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Reorganization and consolidation of life insurance operations in Hartford, CT. | |||
| 2002-09-30 | restructuring | in_progress | 2001-04-01 | 2005-12-31 | United States | Investment Management | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Consolidation of Boston investment office with Philadelphia operations. | |||
| 2002-09-30 | restructuring | in_progress | 2001-04-01 | 2004-12-31 | United States | Corporate Center | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Consolidation of operations and space in Fort Wayne, IN. | |||
| 2002-09-30 | restructuring | in_progress | 2000-01-01 | 2015-12-31 | United Kingdom | Lincoln UK | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Exit of direct sales and consolidation of Uxbridge home office with Barnwood. 671 positions eliminated through Sept 30, 2002. Lease payments continue until 2015. | |||
| 2002-09-30 | restructuring | in_progress | 1999-01-01 | 2016-12-31 | United Kingdom | Lincoln UK | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Streamlining of Lincoln UK operations. 112 positions eliminated through Sept 30, 2002. Lease payments on closed facilities continue until 2016. | |||
| 2002-09-30 | acquisition_addition | completed | 2002-08-30 | 2002-08-30 | United States | Lincoln Retirement | USD 21 (millions) | business_combinations_footnote f5-10q / Qwen3.6-27B-Q8_0 | Acquisition of The Administrative Management Group, Inc. (AMG). Employee count not disclosed. | ||
| 2002-09-30 | other | completed | 500 | 2002-09-30 | 2002-09-30 | United Kingdom | Lincoln UK | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Outsourcing of customer service and policy administration to Capita Group, Plc. Transfer of approximately 500 employees. | ||
| 2002-06-30 | restructuring | in_progress | 49 | 2002-04-01 | 2003-09-30 | United States | Lincoln Retirement — internal information technology organization | USD 2 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Q2 2002 decision to reorganize IT organization; charge includes $1.4M severance and $0.2M outplacement for 49 eliminated positions. Only $0.1M expended through June 30, 2002; $1.5M reserve remains. | |
| 2002-06-30 | restructuring | in_progress | 149 | 2001-01-01 | 2005-12-31 | United States | Multiple plans: Syracuse consolidation, First Penn-Pacific, LFD, Life Insurance Hartford, Boston investment office, Fort Wayne | USD 38 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Six 2001 restructuring plans; 149 positions eliminated through June 30, 2002 and $10.5M pre-tax expended. Aggregate 2001 charges were $38.0M pre-tax ($24.6M after-tax). $26.3M reserve remains; completion dates range from Q2 2002 (LFD) to Q4 2005 (Boston office lease term). | |
| 2002-06-30 | restructuring | in_progress | 690 | 2000-01-01 | 2015-12-31 | United States and United Kingdom | Vantage Global Advisors, Lincoln UK direct sales exit/office consolidation, Lincoln Investment Management | USD 107 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Three 2000 restructuring plans with aggregate charges of $107.4M pre-tax ($81.8M after-tax); 690 positions eliminated and $90.1M pre-tax expended through June 30, 2002. $13.2M reserve remains; Lincoln Investment Management plan substantially completed in Q2 2002; abandoned-facility lease payments continue until 2015. | |
| 2002-06-30 | restructuring | in_progress | 112 | 1999-01-01 | 2016-12-31 | United Kingdom | Lincoln UK operations streamlining | USD 7 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 1999 Lincoln UK restructuring plan; 112 positions eliminated and $7.2M pre-tax expended through June 30, 2002. Expenditures completed Q3 2001 except lease payments on closed facilities continuing until 2016; $2.8M reserve remains. | |
| 2002-06-30 | restructuring | in_progress | 49 | 2002 | 2003-09-30 | United States | Lincoln Retirement — Information Technology | USD 2 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Announced during Q2 2002; $1.6M pre-tax charge ($1.4M severance, $0.2M outplacement). $0.1M expended through June 30; $1.5M reserve remains. | |
| 2002-06-30 | restructuring | in_progress | 149 | 2001 | 2005-12-31 | United States | Multiple segments (Syracury, FPP, LFD, Life Insurance, Boston office, Fort Wayne) | USD 26 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Positions eliminated are cumulative through 2002-06-30 across six remaining 2001 plans; $26.3M reserve balance remains. Original aggregate charge $38.0M pre-tax. | |
| 2002-06-30 | restructuring | in_progress | 690 | 2000 | 2002-06-30 | United States / United Kingdom | Lincoln UK operations and Lincoln Investment Management | USD 13 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Positions eliminated cumulative through 2002-06-30 for the two remaining 2000 plans; $13.2M reserve remains. Lincoln Investment Management plan substantially completed Q2 2002; UK lease payments continue to 2015. | |
| 2002-06-30 | restructuring | in_progress | 112 | 1999 | 2016-12-31 | United Kingdom | Lincoln UK | USD 3 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Positions eliminated cumulative through 2002-06-30; expenditures completed Q3 2001 except lease payments on closed facilities running to 2016; $2.8M reserve remains. | |
| 2002-06-30 | divestiture_reduction | completed | 2001-12-07 | 2001-12-07 | Global | Reinsurance segment (sold to Swiss Re) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Swiss Re acquired LNC's reinsurance operation for $2.0 billion; no employee headcount associated with the divestiture is disclosed in this filing. | |||
| 2002-06-30 | restructuring | in_progress | 49 | 2002-04-01 | 2003-09-30 | Lincoln Retirement - Information Technology | USD 2 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Reorganization of IT organization to align activities and reduce costs. Charge includes $1.4M severance and $0.2M outplacement. | ||
| 2002-06-30 | restructuring | in_progress | 2001-01-01 | 2004-03-31 | Schaumburg, Illinois | First Penn-Pacific (FPP) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Elimination of duplicative functions. 149 positions eliminated across six plans through June 30, 2002. $0.1M excess accrual released in Q2 2002. | |||
| 2002-06-30 | restructuring | in_progress | 2001-01-01 | 2002-12-31 | Lincoln Financial Distributors (LFD) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Reorganization of life wholesaling, consolidation of retirement wholesaling territories, and streamlining of marketing/communications. | ||||
| 2002-06-30 | restructuring | in_progress | 2001-01-01 | 2003-03-31 | Hartford, Connecticut | Life Insurance | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Reorganization and consolidation of life insurance operations, streamlining underwriting/new business, and outsourcing administration. | |||
| 2002-06-30 | restructuring | in_progress | 2001-01-01 | 2005-12-31 | Boston, Massachusetts / Philadelphia, Pennsylvania | Investment Management | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Consolidation of Boston investment office with Philadelphia operations to eliminate redundant facilities and functions. | |||
| 2002-06-30 | restructuring | in_progress | 2001-01-01 | 2004-12-31 | Fort Wayne, Indiana | Corporate / Reinsurance Divestiture | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Consolidation of operations and space following divestiture of reinsurance operations. Excess space and printing capacity not used. | |||
| 2002-06-30 | restructuring | completed | 13 | 2000-01-01 | 2001-12-31 | Vantage Global Advisors | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Downsizing and consolidation of Vantage operations. Completed in Q4 2001. | |||
| 2002-06-30 | restructuring | in_progress | 690 | 2000-01-01 | 2015-12-31 | United Kingdom / United States | Lincoln UK / Lincoln Investment Management | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Exit of direct sales in UK, consolidation of home offices, and downsizing of investment management. Lease payments on abandoned facilities continue until 2015/2016. | ||
| 2002-06-30 | restructuring | completed | 30 | 2001-01-01 | 2002-03-31 | Syracuse, New York / Fort Wayne, Indiana / Portland, Maine | Lincoln Retirement | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Consolidation of Syracuse operations into Fort Wayne and Portland. Completed in Q1 2002. | ||
| 2002-03-31 | restructuring | in_progress | 149 | 2001-01-01 | United States | Multiple (Syracuse, Schaumburg, LFD, Life Insurance, Investment Management, Fort Wayne) | USD 38 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Six restructuring plans initiated in 2001; aggregate pre-tax charge $38.0 million. Cumulative through 2002-03-31: $8.5 million pre-tax expended or written off and 149 positions eliminated; $28.5 million reserve remains. Plans have varying completion dates from Q2 2002 through Q4 2005. | ||
| 2002-03-31 | restructuring | in_progress | 690 | 2000-01-01 | United States and United Kingdom | Vantage Global Advisors, Lincoln UK direct sales, Lincoln Investment Management | USD 107 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Three 2000 plans with aggregate pre-tax charge $107.4 million. Cumulative through 2002-03-31: $88.1 million pre-tax expended or written off and 690 positions eliminated; $15.2 million reserve remains. Lease payments continue to 2014-2015. | ||
| 2002-03-31 | restructuring | in_progress | 112 | 1999-01-01 | United Kingdom | Lincoln UK | USD 32 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Aggregate 1999 plans pre-tax charge $31.8 million across three plans. Lincoln UK component: $7.2 million expended, 112 positions eliminated through 2002-03-31, $2.8 million reserve remains; lease payments continue until 2016. | ||
| 2002-03-31 | restructuring | completed | 118 | 1998-01-01 | 2003-03-31 | United States | Corporate Center | USD 53 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Two 1998 plans with aggregate pre-tax charge $52.8 million. Corporate Center component: $21.3 million expended, 118 positions eliminated, $0.2 million reserve remains at 2002-03-31; rent on abandoned facilities continues until Q1 2003. | |
| 2002-03-31 | divestiture_reduction | completed | 2001-12-07 | 2001-12-07 | United States and international | Reinsurance segment | other f5-10q / GLM-5.3-flash-fp4-HTML | Swiss Re acquired LNC's reinsurance operation for $2.0 billion on 2001-12-07; Reinsurance segment results moved to Other Operations. No employee headcount figure disclosed for the transferred operation. | |||
| 2002-03-31 | restructuring | completed | 118 | 1998 | 2000-12-31 | United States | Corporate Center | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Positions eliminated cumulative through 2002-03-31; plan completed Q4 2000 except rent on abandoned facilities through Q1 2003; $0.2M pre-tax reserve remained at 2002-03-31. Aggregate 1998 plan charges were $52.8M pre-tax across two plans. | ||
| 2002-03-31 | restructuring | completed | 34 | 1999 | 2000-12-31 | United States | Investment Management (Lynch & Mayer) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Positions eliminated cumulative through 2002-03-31; $13.6M pre-tax expended or written off; plan completed Q4 2000. | ||
| 2002-03-31 | restructuring | completed | 39 | 1999 | 2001-12-31 | United States | Reinsurance (HMO excess-of-loss programs) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Positions eliminated cumulative through 2002-03-31; $3.7M pre-tax expended or written off; remaining $0.2M reserve transferred to Swiss Re in Q4 2001 with the reinsurance sale. | ||
| 2002-03-31 | restructuring | completed | 112 | 1999 | 2001-09-30 | United Kingdom | Lincoln UK | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Positions eliminated cumulative through 2002-03-31; $7.2M pre-tax expended or written off; expenditures completed Q3 2001 except lease payments on closed facilities continuing until 2016; $2.8M reserve remained at 2002-03-31. | ||
| 2002-03-31 | restructuring | completed | 13 | 2000 | 2001-12-31 | United States | Investment Management (Vantage Global Advisors) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Positions eliminated cumulative through 2002-03-31; $3.5M pre-tax expended or written off; plan completed Q4 2001. | ||
| 2002-03-31 | restructuring | in_progress | 690 | 2000 | United Kingdom; United States | Lincoln UK direct sales exit/home office consolidation and Lincoln Investment Management | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Combined figure for the two 2000 plans still carrying reserves, positions eliminated cumulative through 2002-03-31; $88.1M pre-tax expended or written off and $15.2M reserve remained at 2002-03-31; operating expenditures completed by Q1 2002 except lease payments on abandoned space running to Nov 2014 and 2015. Aggregate 2000 plan charges were $107.4M pre-tax across three plans. | |||
| 2002-03-31 | restructuring | completed | 30 | 2001 | 2002-03-31 | United States | Lincoln Retirement (Syracury operations consolidation into Fort Wayne, IN and Portland, ME) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Positions eliminated cumulative through 2002-03-31; plan completed in Q1 2002; $1.3M pre-tax expended, $0.3M above original charge, expensed as incurred. | ||
| 2002-03-31 | restructuring | in_progress | 149 | 2001 | United States | Six remaining 2001 plans (Schaumburg IL, Hartford CT, Boston MA, Fort Wayne IN, LFD distribution/marketing) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Positions eliminated cumulative through 2002-03-31; $8.5M pre-tax expended and $28.5M reserve remained at 2002-03-31; completion expected between Q2 2002 and Q4 2005 (lease-driven). Aggregate charges for all seven 2001 plans were $38.0M pre-tax ($24.6M after-tax). | |||
| 2002-03-31 | divestiture_reduction | completed | 2001-12-07 | 2001-12-07 | Global | Reinsurance segment | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Swiss Re acquired LNC's reinsurance operation for $2.0 billion; no employee headcount associated with the divestiture is disclosed in this filing. | |||
| 2002-03-31 | restructuring | in_progress | 118 | 1998-01-01 | 2003-03-31 | United States | Corporate Center | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | 1998 Corporate Center plan; 118 positions eliminated through Q1 2002. Remaining rent obligations expected to continue until Q1 2003. | ||
| 2002-03-31 | restructuring | in_progress | 34 | 1999-01-01 | 2016-12-31 | United States | Lynch & Mayer | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | 1999 Lynch & Mayer downsizing; 34 positions eliminated. Lease payments on closed facilities continue until 2016. | ||
| 2002-03-31 | restructuring | in_progress | 112 | 1999-01-01 | 2016-12-31 | United Kingdom | Lincoln UK | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | 1999 Lincoln UK streamlining; 112 positions eliminated through Q1 2002. Lease payments on closed facilities continue until 2016. | ||
| 2002-03-31 | restructuring | in_progress | 13 | 2000-01-01 | 2001-12-31 | United States | Vantage Global Advisors | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | 2000 Vantage downsizing; 13 positions eliminated. Plan completed in Q4 2001. | ||
| 2002-03-31 | restructuring | in_progress | 690 | 2000-01-01 | 2015-12-31 | United Kingdom / United States | Lincoln UK / Lincoln Investment Management | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | 2000 Lincoln UK exit of direct sales and LIM consolidation. 690 positions eliminated through Q1 2002. UK lease payments continue until 2015; US lease payments continue until Nov 2014. | ||
| 2002-03-31 | restructuring | completed | 30 | 2001-01-01 | 2002-03-31 | United States | Lincoln Retirement (Syracuse) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | 2001 Syracuse consolidation into Fort Wayne/Portland. 30 positions eliminated. Completed in Q1 2002. | ||
| 2002-03-31 | restructuring | in_progress | 149 | 2001-01-01 | 2005-12-31 | United States | Various (Schaumburg, LFD, Life Insurance, Boston, Fort Wayne) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | 2001 multi-site restructurings. 149 positions eliminated through Q1 2002. Completion dates vary by site, with Boston office consolidation expected to complete in Q4 2005 and Fort Wayne rent obligations continuing until 2014. | ||
| 2001-12-31 | restructuring | in_progress | 30 | 2001-03-31 | 2002-03-31 | Syracuse, New York (functions consolidated into Fort Wayne, Indiana and Portland, Maine) | Annuities | USD 1 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Charge recorded in Q1 2001 to consolidate Syracuse operations; comprises $0.8M severance for 30 positions and $0.2M other costs; $1.2M pre-tax expended and all 30 positions eliminated through December 31, 2001. | |
| 2001-12-31 | restructuring | in_progress | 27 | 2001-06-30 | 2004-03-31 | Schaumburg, Illinois (functions absorbed into Fort Wayne, Indiana and Hartford, Connecticut) | Annuities and Life Insurance | USD 3 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Charge recorded in Q2 2001 to eliminate duplicative First Penn-Pacific functions; $0.97M pre-tax charged to the Annuities segment and $3.12M pre-tax to the Life Insurance segment; $0.9M other exit costs; $2.4M expended and 24 of 27 positions eliminated through December 31, 2001; $1.69M reserve remains. | |
| 2001-12-31 | restructuring | in_progress | 33 | 2001-06-30 | 2002-06-30 | Other Operations — Lincoln Financial Distributors (LFD) | USD 2 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Charge recorded in Q2 2001 to reorganize life wholesaling, consolidate retirement wholesaling territories and streamline marketing/communications; entirely severance for 33 positions; $1.3M expended and 23 positions eliminated through December 31, 2001; $0.5M reserve remains. | ||
| 2001-12-31 | restructuring | in_progress | 36 | 2001-12-31 | 2003-03-31 | Hartford, Connecticut | Life Insurance | USD 2 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Charge recorded in Q4 2001 to streamline underwriting and new-business processes and complete outsourcing of certain closed-block administration; entirely severance for 36 positions; $0.2M expended and 10 positions eliminated through December 31, 2001; $2.1M reserve remains. | |
| 2001-12-31 | restructuring | in_progress | 2001-12-31 | 2005-12-31 | Boston, Massachusetts and Philadelphia, Pennsylvania | Investment Management | USD 1 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Charge recorded in Q4 2001 to consolidate the Boston investment office into Philadelphia operations; comprises $0.1M asset write-off and $0.5M other costs (primarily abandoned-office lease payments); no headcount reduction quantified and no costs expended through December 31, 2001. | ||
| 2001-12-31 | restructuring | in_progress | 63 | 2001-12-31 | 2002-12-31 | Other Operations — Lincoln Financial Distributors (LFD) | USD 4 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Charge recorded in Q4 2001 to combine channel oversight, capture marketplace consolidation and expand wholesaler coverage in certain territories; entirely severance for 63 positions; $1.2M expended and 56 positions eliminated through December 31, 2001; $2.6M reserve remains. | ||
| 2001-12-31 | restructuring | in_progress | 9 | 2001-12-31 | 2003-12-31 | Fort Wayne, Indiana | Other Operations — corporate (Fort Wayne operations) | USD 24 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Charge recorded in Q4 2001 to consolidate operations and eliminate excess space following the reinsurance divestiture; comprises $0.3M severance for 9 positions, $3.2M leasehold-improvement write-off and $20.9M other costs (mainly $19.5M abandoned-office rent); no costs expended through December 31, 2001; rents continue until 2014; estimated $4.6M pre-tax annual operating-expense reduction once fully implemented. | |
| 2001-12-31 | divestiture_reduction | completed | 2001-12-07 | 2001-12-07 | Reinsurance (former segment; results moved to Other Operations) | USD 15 (millions) | other f5-10k / GLM-5.3-flash-HTML | Swiss Re acquired the reinsurance operation for $2.0 billion via indemnity reinsurance plus sale of stock companies; $15.0M after-tax gain recognized on the stock-company sale (recorded value is a gain, not a charge); headcount transferred to Swiss Re not disclosed; a $0.2M HMO excess-of-loss restructuring reserve was transferred to Swiss Re in Q4 2001. | |||
| 2001-12-31 | restructuring | in_progress | 671 | 2000-09-28 | 2015-12-31 | United Kingdom | Lincoln UK | USD 30 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Exit of all direct sales and sales-support operations and consolidation of the Uxbridge home office into Barnwood; charges of $53.5M and $45.9M pre-tax recorded in Q3 and Q4 2000 (severance $29.8M for 671 positions, asset write-offs $39.2M, other exit costs $30.4M); cumulative through fiscal year-end: $85.4M pre-tax expended and all 671 positions eliminated through December 31, 2001; $14.0M reserve remains, mainly abandoned-office rents through 2015. | |
| 2001-12-31 | restructuring | in_progress | 112 | 1999-12-31 | 2016-12-31 | United Kingdom | Lincoln UK | USD 10 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Q4 1999 charge to consolidate and eliminate redundant staff functions and facilities (severance $3.9M for 119 identified positions; other costs $6.1M); severance and write-offs completed in Q3 2001; cumulative through fiscal year-end: $7.0M pre-tax expended and 112 positions eliminated through December 31, 2001; $3.0M reserve remains for closed-facility lease payments until 2016. | |
| 2001-12-31 | restructuring | completed | 13 | 2000-06-30 | 2001-12-31 | Philadelphia, Pennsylvania | Investment Management (Vantage Global Advisors) | USD 4 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Q2 2000 charge to combine the structured-products team of Delaware and Vantage and consolidate Vantage back-office operations ($2.3M severance for 15 identified positions; $1.4M asset write-off; $0.4M other; $0.6M reversed in Q4 2000); cumulative through fiscal year-end: $3.5M pre-tax written off and 13 positions eliminated through December 31, 2001; plan completed in Q4 2001. | |
| 2001-12-31 | restructuring | in_progress | 19 | 2000-12-31 | 2002-03-31 | Investment Management (Lincoln Investment Management) | USD 4 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Q4 2000 charge to combine fixed-income investment operations with Delaware in Philadelphia ($1.7M severance for 19 positions; $0.3M asset write-off; $1.9M other); cumulative through fiscal year-end: $1.7M expended and 19 positions eliminated through December 31, 2001; $2.2M reserve remains; remaining expenditures expected by end of Q1 2002 except abandoned-office lease payments until November 2014. | ||
| 2001-12-31 | restructuring | in_progress | 30 | 2001-01-01 | 2002-03-31 | United States — Syracuse, NY | Annuities | USD 1 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Consolidation of Lincoln Life & Annuity Company of New York into Fort Wayne and Portland operations; charge recorded Q1 2001; announcement date approximate (quarter only disclosed) | |
| 2001-12-31 | restructuring | in_progress | 27 | 2001-04-01 | 2004-03-31 | United States — Schaumburg, IL | Annuities and Life Insurance | USD 4 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | First Penn-Pacific duplicative function elimination; $0.97M charged to Annuities and $3.12M to Life Insurance; charge recorded Q2 2001; announcement date approximate (quarter only disclosed) | |
| 2001-12-31 | restructuring | in_progress | 33 | 2001-04-01 | 2002-06-30 | United States | Other Operations — Lincoln Financial Distributors (LFD) | USD 2 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Reorganization of life wholesaling in independent planner channel, consolidation of retirement wholesaling territories, streamlining marketing/communications; charge recorded Q2 2001; announcement date approximate (quarter only disclosed) | |
| 2001-12-31 | restructuring | in_progress | 36 | 2001-10-01 | 2003-03-31 | United States — Hartford, CT | Life Insurance | USD 2 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Streamlining underwriting and new business processes, completion of outsourcing of closed block administration; charge recorded Q4 2001; announcement date approximate (quarter only disclosed) | |
| 2001-12-31 | restructuring | in_progress | 2001-10-01 | 2005-12-31 | United States — Boston, MA | Investment Management | USD 1 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Consolidation of Boston investment office with Philadelphia operations; no positions eliminated disclosed; charge recorded Q4 2001; announcement date approximate (quarter only disclosed) | ||
| 2001-12-31 | restructuring | in_progress | 63 | 2001-10-01 | 2002-12-31 | United States | Other Operations — Lincoln Financial Distributors (LFD) | USD 4 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Combining channel oversight, positioning LFD for marketplace consolidation, expanding wholesaler customer base in certain territories; charge recorded Q4 2001; announcement date approximate (quarter only disclosed) | |
| 2001-12-31 | restructuring | in_progress | 9 | 2001-10-01 | 2003-12-31 | United States — Fort Wayne, IN | Other Operations | USD 24 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Consolidation of Fort Wayne operations and excess space reduction following reinsurance divestiture; includes $19.5M rent on abandoned office space through 2014; charge recorded Q4 2001; announcement date approximate (quarter only disclosed) | |
| 2001-12-31 | divestiture_reduction | completed | 2001-12-07 | 2001-12-07 | United States and international | Reinsurance segment | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Swiss Re acquired LNC's reinsurance operation for $2.0 billion; headcount transferred not disclosed; Reinsurance segment results moved to Other Operations | |||
| 2001-09-30 | restructuring | in_progress | 30 | 2001-03-31 | 2001-12-31 | United States | Annuities (Lincoln Life & Annuity Company of New York, Syracuse consolidation) | USD 1 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Consolidation of Syracuse operations into Fort Wayne, Indiana and Portland, Maine. Pre-tax costs: $0.8M severance, $0.2M other (abandoned office space). $0.9M expended through 2001-09-30; $0.1M reserve remains. | |
| 2001-09-30 | restructuring | in_progress | 27 | 2001-06-30 | 2001-12-31 | United States | Annuities and Life Insurance (First Penn-Pacific, Schaumburg, Illinois) | USD 4 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Elimination of duplicative functions, transitioning to Fort Wayne, Indiana and Hartford, Connecticut. Charges: $0.97M pre-tax Annuities, $3.12M pre-tax Life Insurance; $3.19M severance, $0.9M other. $1.84M expended; $2.25M reserve remains. | |
| 2001-09-30 | restructuring | in_progress | 33 | 2001-06-30 | 2002-06-30 | United States | Other Operations (Lincoln Financial Distributors) | USD 2 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Reorganization of life wholesaling, consolidation of retirement wholesaling territories, streamlining of marketing and communications. Entire charge is severance. $1.3M expended; $0.5M reserve remains. | |
| 2001-09-30 | restructuring | completed | 30 | 2001-01-01 | 2001-12-31 | United States | Annuities | USD 1 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Consolidation of Syracuse operations of Lincoln Life & Annuity Company of New York into Fort Wayne, Indiana and Portland, Maine. Pre-tax charge $1.0M; 30 positions eliminated through 2001-09-30. Remaining reserve $0.1M; expenditures expected to complete in Q4 2001. | |
| 2001-09-30 | restructuring | in_progress | 27 | 2001-04-01 | 2001-12-31 | United States | Annuities and Life Insurance | USD 4 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | First Penn-Pacific restructuring: eliminate duplicative functions in Schaumburg, Illinois by transitioning to Fort Wayne, Indiana and Hartford, Connecticut. 27 positions identified for elimination; 24 eliminated through 2001-09-30. Pre-tax charge $4.09M ($0.97M Annuities + $3.12M Life Insurance). Remaining reserve $2.25M. | |
| 2001-09-30 | restructuring | in_progress | 33 | 2001-04-01 | 2002-06-30 | United States | Other Operations (Lincoln Financial Distributors) | USD 2 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Reorganize life wholesaling function in independent planner channel, consolidate retirement wholesaling territories, streamline marketing/communications. 33 positions identified; 25 eliminated through 2001-09-30. Pre-tax charge $1.8M. Remaining reserve $0.5M; expenditures expected to complete in Q2 2002. | |
| 2001-09-30 | divestiture_reduction | announced | 2001-07-29 | 2001-12-31 | United States | Reinsurance | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Swiss Re to acquire LNC's reinsurance operation for $2.0 billion. Expected to close late Q4 2001 subject to regulatory approvals. No headcount impact disclosed. | |||
| 2001-09-30 | restructuring | in_progress | 30 | 2001-03-31 | 2001-12-31 | Syracuse, New York | Annuities | USD 1 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Consolidation of Syracuse operations into Fort Wayne and Portland. Pre-tax charge of $1.0 million. | |
| 2001-09-30 | restructuring | in_progress | 27 | 2001-06-30 | 2001-12-31 | Schaumburg, Illinois | Annuities and Life Insurance | USD 4 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Elimination of duplicative functions at First Penn-Pacific. Combined pre-tax charge of $4.09 million ($0.97M Annuities, $3.12M Life Insurance). | |
| 2001-09-30 | restructuring | in_progress | 33 | 2001-06-30 | 2002-06-30 | United States | Other Operations (Lincoln Financial Distributors) | USD 2 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Reorganization of life wholesaling function. Pre-tax charge of $1.8 million. | |
| 2001-06-30 | restructuring | in_progress | 30 | 2001-01-01 | 2001-12-31 | United States | Annuities | USD 1 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Consolidation of Syracuse operations of Lincoln Life & Annuity Company of New York into Fort Wayne, Indiana and Portland, Maine. Charge recorded Q1 2001; includes $0.8M severance and $0.2M other costs. 30 positions eliminated through June 30, 2001; $0.8M reserve remains. | |
| 2001-06-30 | restructuring | in_progress | 27 | 2001-04-01 | 2001-12-31 | United States | Annuities and Life Insurance (First Penn-Pacific, Schaumburg, Illinois) | USD 4 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Elimination of duplicative functions at First Penn-Pacific, transitioning into Fort Wayne, Indiana (Annuities, $0.97M pre-tax) and Hartford, Connecticut (Life Insurance, $3.12M pre-tax). Includes $3.19M severance and $0.9M other costs. 9 positions eliminated through June 30, 2001; $2.87M reserve remains. | |
| 2001-06-30 | restructuring | in_progress | 33 | 2001-04-01 | 2002-06-30 | United States | Other Operations — Lincoln Financial Distributors | USD 2 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Reorganization of life wholesaling function within independent planner channel, consolidation of retirement wholesaling territories, and streamlining of marketing and communications. Entire charge is severance. 7 positions eliminated through June 30, 2001; $1.7M reserve remains. | |
| 2001-06-30 | restructuring | in_progress | 676 | 2000-01-01 | United States and United Kingdom | Vantage Global Advisors; Lincoln UK direct sales; Lincoln Investment Management | USD 107 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Aggregate 2000 restructuring plans: $33.8M severance, $40.9M asset impairments, $32.7M other exit costs. 676 positions eliminated through June 30, 2001; $19.6M reserve remains at June 30, 2001. | ||
| 2001-06-30 | restructuring | in_progress | 160 | 1999-01-01 | United States and United Kingdom | HMO excess-of-loss reinsurance discontinuance; Lincoln UK streamlining | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 1999 plans for HMO excess-of-loss discontinuance and Lincoln UK streamlining: $9.9M pre-tax expended or written off through June 30, 2001; 160 positions eliminated; $4.0M reserve remains. Lynch & Mayer plan completed in Q4 2000. | |||
| 2001-06-30 | restructuring | completed | 118 | 1998-01-01 | 2000-12-31 | United States | Corporate center operations | USD 22 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 1998 corporate center streamlining plan completed in Q4 2000 except ongoing rent payments on abandoned facilities expected through end of 2004. 118 positions eliminated; $0.6M reserve remains at June 30, 2001. | |
| 2001-06-30 | divestiture_reduction | announced | 2001-07-29 | 2001-12-31 | Reinsurance segment | USD 2,000 (millions) | subsequent_events f5-10q / GLM-5.3-flash-fp4-HTML | Swiss Re to acquire LNC's reinsurance operation for $2.0 billion; LNC retains ~$500 million of supporting capital. Headcount impact not disclosed. Estimated gain ~$800M after-tax deferred under FAS 113; closing anticipated Q4 2001 subject to regulatory approvals. | |||
| 2001-06-30 | restructuring | in_progress | 30 | 2001-03-31 | 2001-12-31 | United States | Annuities | USD 1 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Pre-tax charge; announced during Q1 2001. Consolidates Syracuse operations of Lincoln Life & Annuity Company of New York into Fort Wayne, IN and Portland, ME. All 30 positions eliminated through June 30, 2001. Exact announcement date not specified. | |
| 2001-06-30 | restructuring | in_progress | 27 | 2001-06-30 | 2001-12-31 | United States | Annuities and Life Insurance | USD 4 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Pre-tax charge of $4.09M total ($0.97M Annuities, $3.12M Life Insurance). Eliminates duplicative functions at First Penn-Pacific in Schaumburg, IL. 9 of 27 positions eliminated through June 30, 2001. Exact announcement date not specified; disclosed as during Q2 2001. | |
| 2001-06-30 | restructuring | in_progress | 33 | 2001-06-30 | 2002-06-30 | United States | Other Operations (Lincoln Financial Distributors) | USD 2 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Pre-tax charge. Reorganizes life wholesaling function, consolidates retirement wholesaling territories, and streamlines marketing/communications at LFD. 7 of 33 positions eliminated through June 30, 2001. Exact announcement date not specified; disclosed as during Q2 2001. | |
| 2001-06-30 | restructuring | in_progress | 30 | 2001-03-31 | 2001-12-31 | Syracuse, NY; Fort Wayne, IN; Portland, ME | Annuities | USD 1 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Consolidation of Syracuse operations into Fort Wayne and Portland. Pre-tax charge of $1.0 million ($0.65 million after-tax) recorded in Q1 2001. | |
| 2001-06-30 | restructuring | in_progress | 27 | 2001-06-30 | 2001-12-31 | Schaumburg, IL; Fort Wayne, IN; Hartford, CT | Annuities and Life Insurance | USD 4 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Elimination of duplicative functions at First Penn-Pacific. Pre-tax charge of $4.09 million ($2.66 million after-tax) recorded in Q2 2001. | |
| 2001-06-30 | restructuring | in_progress | 33 | 2001-06-30 | 2002-06-30 | United States | Other Operations (Lincoln Financial Distributors) | USD 2 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Reorganization of life wholesaling function and consolidation of retirement wholesaling territories. Pre-tax charge of $1.8 million ($1.2 million after-tax) recorded in Q2 2001. | |
| 2001-03-31 | restructuring | announced | 30 | 2001-01-01 | 2002-06-30 | United States | Annuities | USD 1 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Q1 2001 plan to consolidate Syracuse operations of Lincoln Life & Annuity Company of New York into Fort Wayne, Indiana and Portland, Maine. Pre-tax charge of $1.0 million ($0.65 million after-tax): $0.8 million severance for 30 positions and $0.2 million other costs (mainly abandoned office space leases). Employees notified but not yet severed as of March 31, 2001; expenditures begin Q2 2001. | |
| 2001-03-31 | restructuring | completed | 211 | 1998-01-01 | 2000-03-31 | United States | Life and Annuities operations integration (CIGNA acquisition) | USD 35 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 1998 plan integrating life and annuity operations with CIGNA-acquired business; completed Q1 2000. Actual pre-tax costs of $34.9 million expended or written off, exceeding the original $30.8 million reserve; 211 positions eliminated. | |
| 2001-03-31 | restructuring | in_progress | 118 | 1998-01-01 | 2004-12-31 | United States | Corporate Center | USD 21 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 1998 corporate center streamlining plan substantially completed Q4 2000 except ongoing rent on abandoned facilities through end of 2004. $20.7 million pre-tax expended; 118 positions eliminated; $0.8 million reserve remaining at March 31, 2001. | |
| 2001-03-31 | restructuring | completed | 34 | 1999-01-01 | 2000-12-31 | United States | Lynch & Mayer, Inc. | USD 14 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 1999 downsizing and consolidation plan for Lynch & Mayer; completed Q4 2000. $13.6 million pre-tax expended; 34 positions eliminated. | |
| 2001-03-31 | restructuring | in_progress | 138 | 1999-01-01 | United States / United Kingdom | HMO excess-of-loss reinsurance discontinuance and Lincoln UK streamlining | USD 9 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Two 1999 plans (HMO excess-of-loss program discontinuance; Lincoln UK streamlining) reported together: $9.1 million pre-tax expended and 138 positions eliminated through March 31, 2001; combined reserve of $4.8 million remaining. | ||
| 2001-03-31 | restructuring | in_progress | 482 | 2000-01-01 | United States / United Kingdom | Vantage Global Advisors; Lincoln UK direct sales exit; Lincoln Investment Management | USD 76 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Three 2000 plans with aggregate charges of $107.4 million pre-tax ($81.8 million after-tax): severance $33.8 million, impaired asset write-offs $40.9 million, other exit costs $32.7 million. $76.1 million pre-tax expended and 482 positions eliminated through March 31, 2001; $31.7 million reserve remaining. | ||
| 2001-03-31 | restructuring | in_progress | 30 | 2001-03-31 | 2002-06-30 | United States (Syracuse, NY; Fort Wayne, IN; Portland, ME) | Annuities | USD 1 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Announced during Q1 2001; exact announcement date not disclosed. Consolidates Syracuse operations into Fort Wayne and Portland. Pre-tax charge $1.0M ($0.65M after-tax): $0.8M severance for 30 positions plus $0.2M other costs. Employees notified; no severances yet incurred as of 2001-03-31. | |
| 2001-03-31 | restructuring | in_progress | 30 | 2001-03-31 | 2002-06-30 | Syracuse, New York | Annuities | USD 1 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Consolidation of Syracuse operations into Fort Wayne and Portland. Charge includes $0.8M severance and $0.2M lease costs. No employees severed as of quarter end. | |
| 2001-03-31 | restructuring | completed | 211 | 1998-01-01 | 2000-03-31 | United States | Life and Annuity Operations | USD 35 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Integration of CIGNA acquired business. Completed Q1 2000. Actual pre-tax costs $34.9M. | |
| 2001-03-31 | restructuring | in_progress | 118 | 1998-01-01 | 2004-12-31 | United States | Corporate Center | USD 21 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Streamlining of corporate center. Ongoing rent payments on abandoned facilities expected until end of 2004. Actual pre-tax costs $20.7M through Q1 2001. | |
| 2001-03-31 | restructuring | completed | 34 | 1999-01-01 | 2000-12-31 | United States | Lynch & Mayer | USD 14 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Downsizing of Lynch & Mayer operations. Completed Q4 2000. Actual pre-tax costs $13.6M. | |
| 2001-03-31 | restructuring | in_progress | 138 | 1999-01-01 | United States and United Kingdom | HMO Excess-of-Loss and Lincoln UK | USD 9 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Discontinuation of HMO programs and streamlining of Lincoln UK. Actual pre-tax costs $9.1M through Q1 2001. | ||
| 2001-03-31 | restructuring | in_progress | 482 | 2000-01-01 | United States and United Kingdom | Vantage, Lincoln UK, Lincoln Investment Management | USD 76 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Downsizing of Vantage, exit of Lincoln UK direct sales, and consolidation of investment management. Actual pre-tax costs $76.1M through Q1 2001. | ||
| 2000-12-31 | restructuring | in_progress | 671 | 2000-09-28 | 2001-12-31 | United Kingdom | Lincoln UK — direct sales, sales support and home office | USD 81 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Exit plan entered in Q3 2000 to end all direct sales and sales-support operations and consolidate the Uxbridge home office into Barnwood. Charges of $40.5M after-tax ($53.5M pre-tax) in Q3 and $36.1M after-tax ($45.9M pre-tax) in Q4; the $81.4M after-tax total also covers $3.4M and $1.4M booked as operating expenses. Pre-tax components: $29.8M severance for the 671 positions, $39.2M impaired-asset write-offs, $30.4M other exit costs. Through Dec 31, 2000, $61.4M pre-tax spent and 392 positions eliminated, leaving a $38.0M reserve. Abandoned-facility rents run to 2015. The concurrent sales-force transfer to Inter-Alliance is captured as a separate action. | |
| 2000-12-31 | restructuring | in_progress | 15 | 2000 | 2001 | United States (Philadelphia) | Investment Management — Vantage/Delaware structured products and back office | USD 4 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Charge recorded in Q2 2000 to merge the Delaware and Vantage structured-product teams in Philadelphia and fold Vantage's back office into Delaware. Pre-tax components: $2.3M severance for 15 positions, $1.4M asset write-offs, $0.4M other. All 15 positions eliminated and $2.8M pre-tax spent by year-end 2000; $0.7M reserve remains, with remaining spend expected by Q3 2001. A $0.6M pre-tax reversal was recorded in Q4 2000. | |
| 2000-12-31 | restructuring | in_progress | 19 | 2000 | 2002-03-31 | United States (Philadelphia) | Investment Management — Lincoln Investment Management/Delaware | USD 4 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Q4 2000 charge to combine Lincoln Investment Management's operations with Delaware in Philadelphia. Pre-tax components: $1.7M severance for 19 positions, $0.3M asset write-offs, $1.9M other (mainly lease payments on vacated space). 12 positions eliminated and $0.1M pre-tax spent by year-end 2000; $3.8M reserve remains. Spend expected complete by end of Q1 2002, with lease payments continuing to November 2014. | |
| 2000-12-31 | divestiture_reduction | completed | 563 | 2000-09-28 | United Kingdom | Lincoln UK — sales force / direct distribution | MD&A f5-10k / GLM-5.3-flash-HTML | Definitive agreement to move the Lincoln UK sales force, numbering over 1,000 members, to Inter-Alliance Group PLC; Inter-Alliance hired 563 members and will assume leases on 11 sales offices. Transfer completed during 2000 alongside the decision to stop writing new UK business through direct distribution. Distinct from the 671 positions eliminated with severance under the related restructuring exit plan. | |||
| 2000-12-31 | restructuring | in_progress | 671 | 2000-09-28 | 2001-12-31 | United Kingdom | Lincoln UK — direct sales and sales support operations; Uxbridge home office consolidation | USD 99 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Pre-tax charge of $53.5M in Q3 2000 and $45.9M in Q4 2000. Severance for 671 positions; 392 positions eliminated as of Dec 31, 2000. Rents on abandoned facilities expected through 2015. | |
| 2000-12-31 | restructuring | completed | 15 | 2000-04-01 | 2001-06-30 | United States | Investment Management — Vantage Global Advisors consolidation into Delaware | USD 4 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Pre-tax charge recorded Q2 2000. All 15 positions eliminated as of Dec 31, 2000. $0.6M pre-tax reversed in Q4 2000. | |
| 2000-12-31 | restructuring | in_progress | 19 | 2000-10-01 | 2002-03-31 | United States | Investment Management — Lincoln Investment Management combined into Delaware | USD 4 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Pre-tax charge recorded Q4 2000. 12 positions eliminated as of Dec 31, 2000. Lease payments on abandoned office space continue until November 2014. | |
| 2000-12-31 | restructuring | completed | 211 | 1998-01-01 | 2000-03-31 | United States | Life Insurance and Annuities — CIGNA integration; Fort Wayne to Hartford platform migration | USD 31 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 1998 plan completed in Q1 2000. All 211 positions eliminated. $4.1M pre-tax spent in excess of original charge; $2.2M expensed in 2000. | |
| 2000-12-31 | restructuring | in_progress | 143 | 1998-10-01 | 2004-12-31 | United States | Corporate Center — parent company organizational/expense review | USD 22 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 1998 plan. 118 employees terminated as of Dec 31, 2000. Rents on abandoned facilities expected through end of 2004. $0.5M pre-tax reversed in Q4 2000. | |
| 2000-12-31 | restructuring | completed | 34 | 1999-01-01 | 2000-12-31 | United States | Investment Management — Lynch & Mayer back office consolidation into Delaware | USD 17 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 1999 plan completed Q4 2000. All 34 positions eliminated. $0.3M pre-tax reversed in Q4 2000. | |
| 2000-12-31 | restructuring | in_progress | 71 | 1999-07-01 | 2001-12-31 | United States | Reinsurance — HMO excess-of-loss discontinuance | USD 5 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 1999 plan. 30 employees terminated as of Dec 31, 2000. $1.0M pre-tax reversed in Q4 2000. Run-off expected virtually complete by end of 2001. | |
| 2000-12-31 | restructuring | in_progress | 119 | 1999-10-01 | 2001-06-30 | United Kingdom | Lincoln UK — staff and facility consolidation | USD 10 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 1999 plan. 108 positions eliminated as of Dec 31, 2000. Expenditures expected to be completed by Q2 2001. | |
| 2000-12-31 | restructuring | completed | 211 | 1998-03-31 | 2000-03-31 | United States | Life Insurance and Annuities | USD 31 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Integration of existing life and annuity operations with CIGNA acquisition. Completed in first quarter of 2000. | |
| 2000-12-31 | restructuring | in_progress | 143 | 1998-12-31 | 2004-12-31 | United States | Corporate Center | USD 22 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Downsizing of corporate center operations. 118 employees terminated by year-end. Rent payments on abandoned facilities expected to continue until end of 2004. | |
| 2000-12-31 | restructuring | completed | 34 | 1999-03-31 | 2000-12-31 | United States | Investment Management | USD 17 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Downsizing and consolidation of Lynch & Mayer operations into Delaware. Completed in fourth quarter of 2000. | |
| 2000-12-31 | restructuring | in_progress | 71 | 1999-09-30 | United States | Reinsurance | USD 5 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Discontinuance of HMO excess-of-loss reinsurance programs. 30 employees terminated by year-end. | ||
| 2000-12-31 | restructuring | in_progress | 119 | 1999-12-31 | 2001-06-30 | United Kingdom | Lincoln UK | USD 10 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Streamlining of Lincoln UK operations. 108 positions eliminated by year-end. | |
| 2000-12-31 | restructuring | in_progress | 15 | 2000-06-30 | 2001-09-30 | United States | Investment Management | USD 4 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Downsizing and consolidation of Vantage Global Advisors operations into Delaware. All 15 positions eliminated by year-end. | |
| 2000-12-31 | restructuring | in_progress | 671 | 2000-09-28 | 2015-12-31 | United Kingdom | Lincoln UK | USD 99 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Exit of direct sales and consolidation of Uxbridge home office with Barnwood. 392 positions eliminated by year-end. Rent payments on abandoned facilities expected to continue until 2015. | |
| 2000-12-31 | restructuring | in_progress | 19 | 2000-12-31 | 2014-11-30 | United States | Investment Management | USD 4 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Downsizing and consolidation of Lincoln Investment Management operations into Delaware. 12 positions eliminated by year-end. Lease payments on abandoned office space to continue until November 2014. | |
| 2000-09-30 | restructuring | in_progress | 1,065 | 2000-09-28 | 2001-12-31 | United Kingdom | Lincoln UK — sales force and sales support operations | USD 54 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Q3 2000 charge of $40.5M after-tax ($53.5M pre-tax): severance $11.5M for 1,065 sales force members, impaired asset write-offs $36.8M, other exit costs $5.2M. Total expected charges up to $93M after-tax; up to another $39M after-tax expected in Q4 2000. Sales force to be transferred to Inter-Alliance; new business in UK ceased. At Sep 30, 2000, $36.8M of assets written down and $16.7M remains in restructuring reserves. | |
| 2000-09-30 | restructuring | announced | 2000-09-28 | 2000-12-31 | United Kingdom | Lincoln UK — home office and operations consolidation | USD 10 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Up to $10 million after-tax expected in Q4 2000 or future quarters, timing dependent on dates of decisions and employee termination notifications for consolidation of Lincoln UK home offices and operations. | ||
| 2000-09-30 | restructuring | in_progress | 15 | 2000-04-01 | 2000-12-31 | United States | Investment Management — Vantage Global Advisors / Delaware structured products | USD 4 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Q2 2000 charge of $2.7M after-tax ($4.1M pre-tax): severance $2.3M for 15 positions, asset write-offs $1.4M, other costs $0.4M. Combining structured products teams and consolidating back office into Delaware. $0.6M expended by Sep 30, 2000; $3.5M pre-tax remains in reserve. Announcement date approximated to Q2 2000 as exact date not disclosed. | |
| 2000-09-30 | restructuring | completed | 211 | 1998-01-01 | 2000-03-31 | United States | Integration of life and annuity operations with CIGNA-acquired business | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 1998 plan; severance and termination benefits for 211 positions. All expenditures completed by Q1 2000. Aggregate charge for the two 1998 plans combined was $52.8M pre-tax ($34.3M after-tax); per-plan split not disclosed. | ||
| 2000-09-30 | restructuring | in_progress | 143 | 1998-01-01 | 2000-12-31 | United States | Corporate center operations downsizing | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 1998 plan; severance for 143 positions. As of Sep 30, 2000, $2.5M pre-tax remains in restructuring reserve. Aggregate charge for the two 1998 plans combined was $52.8M pre-tax; per-plan split not disclosed. | ||
| 2000-09-30 | restructuring | in_progress | 224 | 1999-01-01 | 2000-12-31 | United States / United Kingdom | Lynch & Mayer downsizing; HMO excess-of-loss discontinuance; Lincoln UK streamlining | USD 32 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Three 1999 plans totaling $21.8M after-tax ($31.8M pre-tax); severance for 34, 71 and 119 positions respectively; asset impairments $9.8M; exit costs $13.7M. As of Sep 30, 2000, $22.0M pre-tax expended and 170 positions eliminated; $6.8M pre-tax remains in reserves. | |
| 2000-09-30 | restructuring | in_progress | 1,065 | 2000-09-28 | 2001-12-31 | United Kingdom | Lincoln UK — sales force and sales support | USD 54 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Pre-tax charge of $53.5M ($40.5M after-tax) recorded in Q3 2000: $11.5M severance for 1,065 sales force members, $36.8M asset write-offs, $5.2M other exit costs. Announced with transfer of UK sales force to Inter-Alliance and decision to cease writing new UK business. Additional charges expected: up to $39M after-tax in Q4 2000 and up to $10M after-tax for home office consolidation. Of the Q3 charge, $36.8M of assets written down and $16.7M remained in restructuring reserves at 2000-09-30; no termination benefits paid yet. Expenditures expected complete by end of 2001. | |
| 2000-09-30 | restructuring | in_progress | 15 | 2000-06 | 2000-12-31 | United States | Investment Management — Delaware Management Holdings / Vantage Global Advisors | USD 4 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Charge of $4.1M pre-tax ($2.7M after-tax) recorded in Q2 2000 to combine structured products teams in Philadelphia and consolidate Vantage back office into Delaware: $2.3M severance for 15 positions, $1.4M asset write-offs, $0.4M other. All affected employees notified; termination benefit payments begin 2000-10-01. $3.5M pre-tax remained in reserve at 2000-09-30; expenditures expected complete by end of 2000. | |
| 2000-09-30 | restructuring | in_progress | 1,065 | 2000-09-28 | 2001-12-31 | United Kingdom | Lincoln UK | USD 54 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Transfer of sales force to Inter-Alliance and cessation of new business writing. Charge includes $11.5M severance for 1,065 sales force members, $36.8M asset write-offs, and $5.2M other exit costs. | |
| 2000-09-30 | restructuring | in_progress | 15 | 2000-04-01 | 2000-12-31 | United States | Investment Management | USD 4 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Consolidation of structured products team and back office operations of Vantage Global Advisors into Delaware Management Holdings. Charge includes $2.3M severance for 15 positions. | |
| 2000-09-30 | restructuring | completed | 354 | 1998-01-01 | 2000-03-31 | United States | Corporate / Life & Annuity | USD 53 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | 1998 plan for CIGNA integration and corporate center downsizing. 313 positions eliminated as of Sept 30, 2000. CIGNA integration completed Q1 2000. | |
| 2000-09-30 | restructuring | completed | 224 | 1999-01-01 | 2000-09-30 | United States / United Kingdom | Lynch & Mayer / Reinsurance / Lincoln UK | USD 32 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | 1999 plans for Lynch & Mayer downsizing, HMO exit, and Lincoln UK streamlining. 170 positions eliminated as of Sept 30, 2000. | |
| 2000-06-30 | restructuring | in_progress | 211 | 1998 | Integration of life and annuity operations with CIGNA-acquired business | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Severance and termination benefits of $19.6 million pre-tax (aggregate across both 1998 plans) for elimination of 211 positions; all expenditures under this plan completed by Q1 2000. | ||||
| 2000-06-30 | restructuring | in_progress | 143 | 1998 | Corporate center downsizing | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Severance for elimination of 143 positions; $3.0 million pre-tax remains in restructuring reserve as of June 30, 2000. | ||||
| 2000-06-30 | restructuring | in_progress | 34 | 1999 | Investment Management (Lynch & Mayer downsizing/consolidation) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Severance of $8.3 million pre-tax covers 34, 71 and 119 positions across the three 1999 plans combined. | ||||
| 2000-06-30 | restructuring | in_progress | 71 | 1999 | Reinsurance (discontinuance of HMO excess-of-loss programs) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Part of three 1999 plans with combined severance of $8.3 million pre-tax. | ||||
| 2000-06-30 | restructuring | in_progress | 119 | 1999 | United Kingdom | Lincoln UK streamlining | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Part of three 1999 plans with combined severance of $8.3 million pre-tax; $8.4 million pre-tax remains in reserves for 1999 plans as of June 30, 2000. | |||
| 2000-06-30 | restructuring | in_progress | 15 | 2000-06-30 | 2000-12-31 | Philadelphia, Pennsylvania | Investment Management (Delaware / Vantage structured products consolidation) | USD 4 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Q2 2000 charge of $4.1 million pre-tax ($2.7 million after-tax): $2.3 million severance for 15 positions, $1.4 million asset write-offs, $0.4 million other. Employees notified but not yet severed as of June 30, 2000; $1.4 million pre-tax written off. | |
| 2000-06-30 | other | completed | 1 | 2000 | 2000-06-30 | Corporate — Executive Vice President and Chief Investment Officer | USD 382,000 (units) | other f5-10q / GLM-5.3-flash-fp4-HTML | Separation agreement with H. Thomas McMeekin (resignation effective June 30, 2000): 52 weeks severance of $382,000, $510,540 pro rata 2000 incentive award, cash in lieu of LTIP for 22,223 shares, forfeiture of 25,000 restricted shares. | ||
| 2000-06-30 | restructuring | in_progress | 15 | 2000-04-01 | 2000-12-31 | United States | Investment Management | USD 4 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Pre-tax charge of $4.1M ($2.7M after-tax) for combining structured products teams of Delaware and Vantage in Philadelphia and consolidating Vantage back office into Delaware. Severance of $2.3M for 15 positions, $1.4M asset write-offs, $0.4M other. All affected employees notified; no severances yet executed as of quarter-end. | |
| 2000-06-30 | restructuring | in_progress | 313 | 1998-01-01 | 2000-03-31 | United States | Corporate / Life and Annuity Operations | USD 53 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Two 1998 plans: integration of life/annuity operations with CIGNA-acquired business (211 positions) and corporate center downsizing (143 positions). 313 positions eliminated cumulatively as of 2000-06-30. CIGNA integration plan completed Q1 2000; $3.0M pre-tax remains in reserve for corporate center plan. | |
| 2000-06-30 | restructuring | in_progress | 141 | 1999-01-01 | United States / United Kingdom | Multiple (Lynch & Mayer, HMO Reinsurance, Lincoln UK) | USD 32 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Three 1999 plans: Lynch & Mayer downsizing (34 positions), HMO excess-of-loss discontinuance (71 positions), Lincoln UK streamlining (119 positions). 141 positions eliminated cumulatively as of 2000-06-30. $8.4M pre-tax remains in restructuring reserves. | ||
| 2000-06-30 | restructuring | in_progress | 15 | 2000-06-30 | 2000-12-31 | Philadelphia | Investment Management | USD 4 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Combining structured products teams of Delaware Management Holdings and Vantage Global Advisors; consolidating back office operations. | |
| 2000-06-30 | restructuring | completed | 313 | 1998-12-31 | 2000-03-31 | United States | Corporate and Life/Annuity Integration | USD 53 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | 1998 plan for integration of CIGNA business and corporate center downsizing. Completed by Q1 2000. | |
| 2000-06-30 | restructuring | in_progress | 141 | 1999-12-31 | United States and United Kingdom | Lynch & Mayer, HMO Reinsurance, Lincoln UK | USD 32 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | 1999 plans for downsizing Lynch & Mayer, discontinuing HMO reinsurance, and streamlining Lincoln UK operations. | ||
| 2000-03-31 | restructuring | in_progress | 211 | 1998-01-01 | Integration of life and annuity operations with CIGNA-acquired business | USD 53 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Aggregate pre-tax charge for both 1998 plans combined; includes $19.6M severance for 211 positions under the CIGNA integration plan. All expenditures under this plan were completed by Q1 2000. | |||
| 2000-03-31 | restructuring | in_progress | 143 | 1998-01-01 | Corporate center operations | USD 53 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Downsizing of corporate center operations; $19.6M severance covers 143 positions across both 1998 plans. $3.9M pre-tax remains in reserve as of March 31, 2000. | |||
| 2000-03-31 | restructuring | in_progress | 34 | 1999-01-01 | Lynch & Mayer, Inc. downsizing and consolidation | USD 32 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Aggregate pre-tax charge for all three 1999 plans combined; severance of $8.3M covers 34, 71 and 119 positions across the three plans. Original estimate reduced by $3.0M in Q4 1999 after lease surrender. | |||
| 2000-03-31 | restructuring | in_progress | 71 | 1999-01-01 | Discontinuance of HMO excess-of-loss reinsurance programs | USD 32 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Part of three 1999 restructuring plans with combined $31.8M pre-tax charge; $11.2M pre-tax remains in reserve as of March 31, 2000. | |||
| 2000-03-31 | restructuring | in_progress | 119 | 1999-01-01 | United Kingdom | Lincoln UK operations streamlining | USD 32 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Part of three 1999 restructuring plans with combined $31.8M pre-tax charge; 117 positions eliminated across the three plans as of March 31, 2000. | ||
| 2000-03-31 | divestiture_reduction | completed | 2000-03-30 | 2000-03-30 | Mexico | Seguros Serfin Lincoln (Reinsurance segment exited businesses) | USD 101 (millions) | other f5-10q / GLM-5.3-flash-fp4-HTML | LNC transferred its 49% share of Seguros Serfin Lincoln to Grupo Financiero Serfin for $100.5 million, freeing approximately $90 million of capital; headcount impact not disclosed. | ||
| 2000-03-31 | restructuring | completed | 313 | 1998-01-01 | 2000-03-31 | United States | Corporate center and life/annuity operations integration | USD 53 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Cumulative positions eliminated as of 2000-03-31 across two 1998 plans (CIGNA integration: 211 planned; corporate center downsizing: 143 planned). CIGNA integration plan completed in Q1 2000; $3.9M pre-tax remains in reserve for corporate center plan. Charge is cumulative pre-tax, not Q1-specific. | |
| 2000-03-31 | restructuring | in_progress | 117 | 1999-01-01 | United States / United Kingdom | Lynch & Mayer; HMO excess-of-loss reinsurance; Lincoln UK operations | USD 32 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Cumulative positions eliminated as of 2000-03-31 across three 1999 plans (planned eliminations: 34, 71, and 119 positions respectively). $11.2M pre-tax remains in restructuring reserves. Charge is cumulative pre-tax, not Q1-specific. | ||
| 2000-03-31 | restructuring | completed | 211 | 1998 | 2000-03-31 | Life and Annuity Operations | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Integration of existing life and annuity operations with business acquired from CIGNA. All expenditures completed by Q1 2000. | |||
| 2000-03-31 | restructuring | in_progress | 143 | 1998 | Corporate Center | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Downsizing of corporate center operations. $3.9 million pre-tax reserve remains. | ||||
| 2000-03-31 | restructuring | in_progress | 34 | 1999 | Lynch & Mayer | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Downsizing and consolidation of Lynch & Mayer operations. | ||||
| 2000-03-31 | restructuring | in_progress | 71 | 1999 | Reinsurance | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Discontinuance of HMO excess-of-loss reinsurance programs. | ||||
| 2000-03-31 | restructuring | in_progress | 119 | 1999 | United Kingdom | Lincoln UK | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Streamlining of Lincoln UK operations. $11.2 million pre-tax reserve remains for 1999 plans. | |||
| 1999-12-31 | restructuring | completed | 34 | 1999-03-31 | 2000-06-30 | United States | Investment Management (Lynch & Mayer) | USD 17 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Pre-tax charge; $12.1M after-tax. Downsize and consolidate Lynch & Mayer back office into Delaware. All 34 positions eliminated as of Dec 31, 1999. Includes $9.8M impaired asset write-off and $4.3M other costs. | |
| 1999-12-31 | restructuring | in_progress | 71 | 1999-09-30 | United States | Reinsurance (HMO excess-of-loss) | USD 5 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Pre-tax charge; $3.2M after-tax. Discontinuance of HMO excess-of-loss reinsurance programs. 16 of 71 positions eliminated as of Dec 31, 1999. Includes $2.4M severance and $2.5M other costs. | ||
| 1999-12-31 | restructuring | in_progress | 119 | 1999-12-31 | 2001-06-30 | United Kingdom | Lincoln UK | USD 10 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Pre-tax charge; $6.5M after-tax. Streamlining Lincoln UK operations by consolidating redundant staff functions and facilities. 35 of 119 positions eliminated as of Dec 31, 1999. Includes $3.9M severance and $6.1M other costs. | |
| 1999-12-31 | restructuring | in_progress | 211 | 1998-03-31 | 2000-03-31 | United States | Life Insurance and Annuities (CIGNA integration) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Announced in 1998; charge recorded in prior year ($30.8M pre-tax). All 211 positions eliminated as of Dec 31, 1999 (cumulative through fiscal year-end). Integration of existing life/annuity operations with CIGNA-acquired business. | ||
| 1999-12-31 | restructuring | in_progress | 143 | 1998-12-31 | 2000-12-31 | United States | Corporate Center | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Announced in 1998; charge recorded in prior year ($22M pre-tax). 101 of 143 positions eliminated as of Dec 31, 1999 (cumulative through fiscal year-end). Streamlining of LNC corporate center operations; rents on abandoned facilities expected complete by end of 2004. | ||
| 1999-12-31 | restructuring | in_progress | 34 | 1999-03-31 | 2000-06-30 | United States | Investment Management | USD 17 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Downsizing and consolidation of Lynch & Mayer, Inc. operations into Delaware. Pre-tax charge of $16.9 million. 34 positions eliminated. | |
| 1999-12-31 | restructuring | in_progress | 71 | 1999-09-30 | United States | Reinsurance | USD 5 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Discontinuance of HMO excess-of-loss reinsurance programs. Pre-tax charge of $4.9 million. 71 positions eliminated. | ||
| 1999-12-31 | restructuring | in_progress | 119 | 1999-12-31 | 2001-06-30 | United Kingdom | Lincoln UK | USD 10 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Streamlining of Lincoln UK operations. Pre-tax charge of $10.0 million. 119 positions eliminated. | |
| 1999-09-30 | restructuring | in_progress | 34 | 1999-01-01 | 2000-06-30 | United States | Investment Management (Lynch & Mayer back office consolidation into Delaware Management Holdings) | USD 17 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Pre-tax charge includes $2.8M severance for 34 positions, $9.8M asset write-offs, and $4.3M other costs; $13.1M pre-tax expended or written off through September 30, 1999. | |
| 1999-09-30 | restructuring | in_progress | 1999-07-01 | United States | Reinsurance (HMO excess-of-loss business discontinuance) | USD 5 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Charge covers employee severance and other costs from discontinuing new HMO excess-of-loss reinsurance writing; activities begin in Q4 1999 and continue until wind-down completes. | |||
| 1999-09-30 | restructuring | in_progress | 211 | 1998-01-01 | 1999-12-31 | United States | Life Insurance and Annuities (Fort Wayne downsizing; platform move to Hartford) | USD 11 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Part of a $30.8M pre-tax charge that also included $20.1M for merging/closing field offices and consolidating policyholder systems; $29.6M pre-tax expended through September 30, 1999. | |
| 1999-09-30 | restructuring | in_progress | 143 | 1998-10-01 | 2000-12-31 | United States | Corporate center (parent company) | USD 9 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Part of a $22M pre-tax charge that also included $9.9M leasehold/asset write-offs and $3.2M abandoned-facility rents; severance expenditures expected complete by end of 2000, rents by end of 2004. Annualized cost reduction achieved of $19.5 million through September 30, 1999. | |
| 1999-09-30 | restructuring | in_progress | 34 | 1999-03-31 | 2000-06-30 | United States | Investment Management | USD 17 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Downsizing and consolidation of Lynch & Mayer back office into Delaware Management Holdings; includes $2.8M severance for 34 positions, $9.8M asset write-offs, $4.3M other costs; $13.1M pre-tax expended as of 1999-09-30 | |
| 1999-09-30 | restructuring | in_progress | 1999-09-30 | United States | Reinsurance | USD 5 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Discontinuance of HMO excess-of-loss reinsurance programs; charge covers employee severance and termination benefits plus other exit costs; no position count disclosed; restructuring activities to begin Q4 1999 | |||
| 1999-09-30 | divestiture_reduction | completed | 1999-11-01 | United States | Reinsurance | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Transfer of disability income block to MetLife closed 1999-11-01; $495.4M statutory reserves transferred net of $18.5M purchase price; no headcount disclosed | ||||
| 1999-09-30 | acquisition_addition | completed | 1999-09-13 | 1999-11-01 | United States | Reinsurance | USD 42 (millions) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Purchase of Alden Risk Management Services (employer medical stop-loss) and a block of group life/AD&D business for $41.5M cash; closed 1999-11-01; no headcount disclosed | ||
| 1999-09-30 | restructuring | in_progress | 211 | 1998-03-31 | 1999-12-31 | Fort Wayne, Indiana and Hartford, Connecticut | Life Insurance and Annuities | USD 11 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Integration of operations with CIGNA acquisition; severance for 211 positions. | |
| 1999-09-30 | restructuring | in_progress | 143 | 1998-12-31 | 2000-12-31 | Corporate Center | Corporate | USD 9 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Downsizing corporate center operations; severance for 143 positions. | |
| 1999-09-30 | restructuring | in_progress | 34 | 1999-03-31 | 2000-06-30 | Investment Management | USD 3 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Consolidation of Lynch & Mayer back office operations; severance for 34 positions. | ||
| 1999-09-30 | restructuring | in_progress | 1999-09-30 | Reinsurance | USD 5 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Discontinuance of HMO excess-of-loss reinsurance programs; charge includes severance and other costs. | ||||
| 1999-06-30 | restructuring | completed | 1999-03-31 | 1999-03-31 | Investment Management | USD 12 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Charge for downsizing and consolidation of back office operations at Lynch & Mayer. | |||
| 1999-03-31 | restructuring | in_progress | United States | Investment Management | USD 17 (millions) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Charge recorded in Q1 1999 for downsizing and consolidation of back office operations at Lynch & Mayer; $12.1 million after-tax ($16.9 million pre-tax). No employee count, announcement date, or completion timing disclosed. | ||||
| 1999-03-31 | restructuring | completed | Investment Management | USD 12 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Charge for downsizing and consolidation of back office operations at Lynch & Mayer. | |||||
| 1998-12-31 | restructuring | completed | 1998-10-01 | 1998-12-31 | United States | Parent company and select subsidiaries | USD 22 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Organizational/expense review completed Q4 1998; $14.3M after-tax ($22.0M pre-tax) charge for severance and space abandonment from staff reductions in parent and select companies. Holding company staff expected to reduce from 210 to approximately 65. No employee count disclosed. | ||
| 1998-12-31 | acquisition_addition | completed | 1998-01-02 | 1998-01-02 | United States | Life Insurance and Annuities | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Acquisition of individual life insurance and annuity block from CIGNA Corporation for $1.414B; added career agency system of 600 producers, life brokerage operation, annuity distribution system, and $37B life insurance in force. No employee headcount disclosed. | |||
| 1998-12-31 | acquisition_addition | completed | 1998-10-01 | 1998-10-01 | United States | Life Insurance and Annuities | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Acquisition of individual life insurance block from Aetna Inc. for $1.0B; added 30 life brokerage managers, 30 managing general agent relationships, corporate-owned life insurance sales force, access to 30,000+ independent agents, and $42B life insurance in force. No employee headcount disclosed. | |||
| 1998-12-31 | restructuring | completed | 1998-12-31 | 1998-12-31 | United States | Corporate / Other Operations | USD 22 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Organizational/expense review completed in Q4 1998. Pre-tax charge of $22.0 million for severance pay and space abandonment charges due to staff reductions in the parent and other select companies. Expected annual expense reduction of $15-$20 million. Holding company staff to reduce from 210 to approx. 65. | ||
| 1998-12-31 | restructuring | completed | 1998-03-31 | 1998-03-31 | United States | Life Insurance and Annuities | USD 31 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Charge recorded in Q1 1998 related to integration of CIGNA block of business. Pre-tax charge of $31.0 million ($20.0 million after-tax) covered costs of integrating existing operations with new block. | ||
| 1998-09-30 | restructuring | announced | 1998-12-31 | Company-wide organizational/expense review | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Organizational and expense review initiated due to competitive pressures; expected to conclude in Q4 1998 and result in a one-time earnings charge. Charge amount and ongoing 1999 expense/staff reductions not yet determined. | |||||
| 1998-09-30 | restructuring | announced | 1998-09-30 | 1998-12-31 | Enterprise-wide | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Organizational/expense review initiated in response to competitive pressures; expected to be completed in Q4 1998 with a one-time charge to earnings. Charge amount, staff reductions, and ongoing expense savings not yet determined. | ||||
| 1998-09-30 | restructuring | announced | 1998-09-30 | 1998-12-31 | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Organizational/expense review initiated; expected to result in one-time charge to earnings and reductions in staff counts. Specific actions and charge amounts not yet determined. | |||||
| 1997-12-31 | divestiture_reduction | completed | 1997-06-09 | 1997-10-01 | United States | Property-Casualty (American States Financial Corporation) | discontinued_operations_footnote f5-10k / GLM-5.3-flash-HTML | 83.3% stake in American States Financial Corporation sold for $2.65 billion; transaction closed October 1, 1997 with a $776.9 million after-tax gain recorded in discontinued operations. The Property-Casualty segment was exited and its workforce left the consolidated group, but the employee headcount impact is not disclosed. | |||
| 1997-12-31 | acquisition_addition | completed | 1998-01-02 | United States | Life Insurance and Annuities | USD 20 (millions) | subsequent_events f5-10k / GLM-5.3-flash-HTML | Block of individual life insurance and annuity business purchased from CIGNA for approximately $1.4 billion (plus $228.5 million of additional expenditures); completed January 2, 1998, adding a career agency system of 600 producers. Employee headcount added is not quantified, though the Life Insurance and Annuities segment count includes acquired-block employees. A first-quarter 1998 integration charge of approximately $20 million after-tax (about $31 million pre-tax) was expected. | |||
| 1997-12-31 | acquisition_addition | completed | 600 | 1998-01-02 | 1998-01-02 | United States | Life Insurance and Annuities | USD 20 (millions) | subsequent_events f5-10k / MiMo-V2.6-Flash-fp8-HTML | Acquisition of individual life and annuity block from CIGNA completed January 2, 1998 (after fiscal year-end). Added approximately 600 career agents and 30 agencies. Expected integration charge of approximately $20 million after-tax ($31 million pre-tax) in Q1 1998. Also added $41 billion of individual life insurance in-force. | |
| 1997-12-31 | divestiture_reduction | completed | 1997-06-09 | 1997-10-01 | United States | Property-Casualty (discontinued operations) | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of 83.3% ownership in American States Financial Corporation for $2.65 billion, completed October 1, 1997. Headcount associated with the divested operation was not disclosed. | |||
| 1997-06-30 | acquisition_addition | completed | 1997-04-30 | 1997-04-30 | Investment Management | USD 74 (millions) | business_combinations_footnote f5-10q / Qwen3.6-27B-Q8_0 | Acquisition of Voyageur Fund Managers, Inc. completed April 30, 1997 for $73.8 million. Employee count not disclosed. | |||
| 1997-06-30 | divestiture_reduction | announced | 1997-06-09 | Discontinued Operations | subsequent_events f5-10q / Qwen3.6-27B-Q8_0 | Agreement to sell 83.3% ownership in American States Financial Corporation announced June 9, 1997. Employee count not disclosed. | |||||
| 1996-12-31 | restructuring | in_progress | 1995-10 | 1998 | United States | Property-Casualty (American States Financial Corporation) | USD 21 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | American States field-structure realignment approved by LNC in October 1995: consolidation of 20 divisional offices into four regional offices, with certain locations retained as service offices and non-regional owned buildings to be sold. Program was in progress throughout fiscal 1996 with completion targeted by 1998. Estimated program charges: $21.0 million pre-tax realignment costs (primarily severance compensation) plus a $28.4 million pre-tax loss on sale of office buildings ($13.7 million and $18.5 million after-tax, respectively); a $32.2 million net income charge was taken in Q4 1995 and 1996 charges did not differ materially from these estimates. Realignment generated roughly $9 million of after-tax expense savings in 1996 versus 1995. Number of employees affected is not quantified in the filing. | ||
| 1996-12-31 | acquisition_addition | announced | 1997-01 | United States (Minneapolis-based target) | Investment Management (Lincoln National Investments, Inc.) | subsequent_events f5-10k / GLM-5.3-flash-HTML | LNC signed a definitive agreement in January 1997 to acquire Voyageur Fund Managers, Inc., with consideration of approximately $70 million in LNC common stock; closing expected in the second quarter of 1997 and to be accounted for under purchase accounting. The filing does not disclose the number of employees to be added. | ||||
| 1996-12-31 | restructuring | in_progress | 1995-10-01 | 1998-12-31 | United States | Property-Casualty | USD 21 (millions) | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | Pre-tax cost of realignment estimated at $21M including severance; $21.0M of expenses primarily severance recorded in 1995; realignment produced nearly $9M in 1996 after-tax expense savings; target of ~$30M annual after-tax savings by 1998. Employee count not disclosed. | ||
| 1996-12-31 | acquisition_addition | completed | 1996-10-01 | 1996-10-31 | United States | Life Insurance and Annuities | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Added $2.7 billion to annuity account values; assets and policy liabilities increased $3.2 billion. Employee headcount added not disclosed. | |||
| 1996-12-31 | divestiture_reduction | completed | 1996-05-01 | 1996-05-31 | United States | Property-Casualty | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | LNC retains 83% ownership; net proceeds $215.2M. This was a minority stake sale, not a full divestiture; employee headcount impact not disclosed. | |||
| 1996-12-31 | restructuring | completed | 1995-10 | 1998-12-31 | United States | Property-Casualty | USD 21 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | American States adopted a realignment plan in October 1995 to consolidate 20 divisional offices into four regional offices. 1995 results included $21.0 million of expenses, primarily severance compensation. 1996 expense savings were nearly $9 million after-tax. No specific employee count for the reduction was disclosed. | ||
| 1996-09-30 | restructuring | in_progress | United States | Property-Casualty | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Property-Casualty segment consolidated 20 divisional offices into four regional offices with continued staff-level adjustments; no employee count or charge disclosed. | |||||
| 1996-06-30 | restructuring | in_progress | United States | Property-Casualty | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Property-Casualty segment consolidating 20 divisional offices into four regional offices with continued staff-level adjustments; no employee count or charge disclosed. | |||||
| 1996-03-31 | restructuring | in_progress | United States | Property-Casualty | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Property-Casualty segment consolidated 20 divisional offices into four regional offices with continued staff-level adjustments; no employee counts, dates, or charges disclosed. | |||||
| 1995-12-31 | restructuring | in_progress | 1995-11-01 | United States | Property-Casualty | USD 21 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Pre-tax realignment cost of $21.1M plus $28.3M expected loss on sale of office buildings; after-tax total $32.1M. Consolidating 20 divisional offices into 4 regional offices. No employee count disclosed. MD&A separately cites $21.0M of expenses primarily for severance compensation. | |||
| 1995-12-31 | acquisition_addition | completed | 1995-04-03 | United States | Investment Management | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Purchase price $305M; no headcount disclosed. Segment had approximately 910 employees at year-end. | ||||
| 1995-12-31 | acquisition_addition | completed | 1995-04-30 | United Kingdom | Life Insurance and Annuities | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Combined purchase price $274.5M including $44M assumed debt. No headcount disclosed. MD&A notes merged companies budgeted $120M operating expenses for 1996 vs $210M for three separate companies in 1995, implying workforce reduction but no count given. | ||||
| 1995-12-31 | divestiture_reduction | completed | 1995-10-31 | United States | Other Operations | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Cash received $186.9M; pre-tax gain $89.7M ($58.3M after-tax). No headcount disclosed for the divested entity. | ||||
| 1995-12-31 | restructuring | completed | 1995-11 | United States | Property-Casualty | USD 14 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | American States announced realignment of field structure, consolidating 20 division offices into four regional offices. One-time special charge of $13.7 million after-tax related to realignment, primarily severance compensation. Employee count not explicitly disclosed for this action. | |||
| 1995-09-30 | acquisition_addition | completed | 1995-04-03 | United States | Investment Management | business_combinations_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Acquisition of Delaware Management Holdings completed 1995-04-03; results consolidated from that date. No employee headcount added disclosed. | ||||
| 1995-09-30 | acquisition_addition | completed | 1995-04-25 | United Kingdom | Life Insurance and Annuities | business_combinations_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Acquisition of Laurentian Financial Group plc completed 1995-04-25; results consolidated from that date. No employee headcount added disclosed. |