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v3.20.1

Revenues from Contracts with Customers (Tables) | 3 Months Ended
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Mar. 31, 2020
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended
​ | ​ | March 31,
​ |  | 2020 |  | 2019
​ | ​ | (in millions)
Revenue from contracts with customers by segment: | ​ | ​ | ​ | ​ | ​ | ​
Retirement and Income Solutions: | ​ | ​ | ​ |  | ​ | ​
Retirement and Income Solutions – Fee | ​ | $ | 156.4 | ​ | $ | 58.4
Retirement and Income Solutions – Spread | ​ |  | 2.1 | ​ |  | 2.9
Total Retirement and Income Solutions | ​ | ​ | 158.5 | ​ | ​ | 61.3
Principal Global Investors | ​ |  | 382.9 | ​ |  | 332.3
Principal International | ​ |  | 109.5 | ​ |  | 114.9
U.S. Insurance Solutions: | ​ |  | ​ | ​ |  | ​
Specialty Benefits insurance | ​ |  | 3.8 | ​ |  | 3.7
Individual Life insurance | ​ |  | 12.8 | ​ |  | 12.0
Total U.S. Insurance Solutions | ​ | ​ | 16.6 | ​ | ​ | 15.7
Corporate | ​ |  | 32.9 | ​ |  | 37.0
Total segment revenue from contracts with customers | ​ |  | 700.4 | ​ |  | 561.2
Adjustments for fees and other revenues not within the scope of revenue recognition guidance (1) | ​ |  | 429.2 | ​ |  | 409.2
Pre-tax other adjustments (2) | ​ |  | 15.7 | ​ |  | 3.1
Total fees and other revenues per consolidated statements of operations | ​ | $ | 1,145.3 | ​ | $ | 973.5
(1) | Fees and other revenues not within the scope of the revenue recognition guidance primarily represent revenue on contracts accounted for under the financial instruments or insurance contracts standards.
(2) | Pre-tax other adjustments relate to the recognition of deferred front-end fee revenues for sales charges on retirement and life insurance products and certain market value adjustments to fee revenues.
Retirement and Income Solutions | Retirement and Income Solutions - Fee |
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended
​ | ​ | March 31,
​ |  | 2020 |  | 2019
​ | ​ | (in millions)
Administrative service fee revenue (1) | ​ | $ | 156.2 | ​ | $ | 58.2
Other fee revenue | ​ | ​ | 0.2 | ​ | ​ | 0.2
Total revenues from contracts with customers | ​ | ​ | 156.4 | ​ | ​ | 58.4
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 280.5 | ​ | ​ | 271.8
Total fees and other revenues | ​ |  | 436.9 | ​ |  | 330.2
Premiums and other considerations | ​ |  | 1.8 | ​ |  | 1.1
Net investment income | ​ |  | 104.4 | ​ |  | 99.5
Total operating revenues | ​ | $ | 543.1 | ​ | $ | 430.8
(1) | Includes fee revenue for the Acquired Business in 2020.
Retirement and Income Solutions | Retirement and Income Solutions - Spread |
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended
​ | ​ | March 31,
​ |  | 2020 |  | 2019
​ | ​ | (in millions)
Deposit account fee revenue | ​ | $ | 2.1 | ​ | $ | 2.9
Total revenues from contracts with customers | ​ | ​ | 2.1 | ​ | ​ | 2.9
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 3.1 | ​ | ​ | 4.9
Total fees and other revenues | ​ |  | 5.2 | ​ |  | 7.8
Premiums and other considerations | ​ |  | 1,521.1 | ​ |  | 957.5
Net investment income | ​ |  | 536.3 | ​ |  | 495.8
Total operating revenues | ​ | $ | 2,062.6 | ​ | $ | 1,461.1
​
Principal Global Investors |
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended
​ | ​ | March 31,
​ |  | 2020 |  | 2019
​ | ​ | (in millions)
Management fee revenue | ​ | $ | 321.0 | ​ | $ | 292.8
Other fee revenue | ​ |  | 61.9 | ​ |  | 39.5
Total revenues from contracts with customers | ​ |  | 382.9 | ​ |  | 332.3
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 5.5 | ​ | ​ | 4.3
Total fees and other revenues | ​ |  | 388.4 | ​ |  | 336.6
Net investment income | ​ |  | 2.4 | ​ |  | 2.4
Total operating revenues | ​ | $ | 390.8 | ​ | $ | 339.0
​
Principal International |
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended
​ | ​ | March 31,
​ |  | 2020 |  | 2019
​ | ​ | (in millions)
Management fee revenue | ​ | $ | 108.5 | ​ | $ | 114.3
Other fee revenue | ​ |  | 1.0 | ​ |  | 0.6
Total revenues from contracts with customers | ​ |  | 109.5 | ​ |  | 114.9
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 1.3 | ​ | ​ | 1.7
Total fees and other revenues | ​ |  | 110.8 | ​ |  | 116.6
Premiums and other considerations | ​ |  | 85.0 | ​ |  | 117.5
Net investment income | ​ |  | 104.7 | ​ |  | 146.4
Total operating revenues | ​ | $ | 300.5 | ​ | $ | 380.5
​ | ​ | ​ | ​ | ​ | ​ | ​
Revenues from contracts with customers by region: | ​ |  | ​ | ​ |  | ​
Latin America | ​ | $ | 81.5 | ​ | $ | 88.1
Asia | ​ |  | 28.0 | ​ |  | 27.0
Principal International corporate / regional offices | ​ |  | 0.2 | ​ |  | 0.2
Eliminations | ​ |  | (0.2) | ​ |  | (0.4)
Total revenues from contracts with customers | ​ | $ | 109.5 | ​ | $ | 114.9
​
U.S. Insurance Solutions |
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended
​ | ​ | March 31,
​ |  | 2020 |  | 2019
​ | ​ | (in millions)
Specialty Benefits insurance: | ​ | ​ | ​ |  | ​ |
Administrative service fees | ​ | $ | 3.8 | ​ | $ | 3.7
Total revenues from contracts with customers | ​ | ​ | 3.8 | ​ |  | 3.7
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 4.9 | ​ | ​ | 4.9
Total fees and other revenues | ​ | ​ | 8.7 | ​ |  | 8.6
Premiums and other considerations | ​ | ​ | 588.4 | ​ |  | 555.9
Net investment income | ​ | ​ | 41.9 | ​ |  | 37.3
Total operating revenues | ​ | $ | 639.0 | ​ | $ | 601.8
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Individual Life insurance: | ​ | ​ | ​ | ​ |  | ​
Administrative service fees | ​ | $ | 5.7 | ​ | $ | 5.9
Commission income | ​ | ​ | 7.1 | ​ |  | 6.1
Total revenues from contracts with customers | ​ | ​ | 12.8 | ​ |  | 12.0
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 210.0 | ​ | ​ | 192.2
Total fees and other revenues | ​ | ​ | 222.8 | ​ |  | 204.2
Premiums and other considerations | ​ | ​ | 94.7 | ​ |  | 92.9
Net investment income | ​ | ​ | 166.8 | ​ |  | 169.2
Total operating revenues | ​ | $ | 484.3 | ​ | $ | 466.3
​
Corporate |
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended
​ | ​ | March 31,
​ |  | 2020 |  | 2019
​ | ​ | (in millions)
Commission income | ​ | $ | 80.4 | ​ | $ | 75.8
Other fee revenue | ​ |  | 11.1 | ​ |  | 8.8
Eliminations | ​ |  | (58.6) | ​ |  | (47.6)
Total revenues from contracts with customers | ​ |  | 32.9 | ​ |  | 37.0
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | (76.1) | ​ | ​ | (70.6)
Total fees and other revenues | ​ |  | (43.2) | ​ |  | (33.6)
Net investment income | ​ |  | 52.5 | ​ |  | 34.8
Total operating revenues | ​ | $ | 9.3 | ​ | $ | 1.2
​

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