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v3.20.1

Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2020
Segment Information |
Reconciliation of Assets from Segment to Consolidated (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | March 31, 2020 |  | December 31, 2019
​ | ​ | (in millions)
Assets: | ​ | ​ | ​ | ​ | ​ | ​
Retirement and Income Solutions | ​ | $ | 174,996.9 | ​ | $ | 192,698.1
Principal Global Investors | ​ |  | 2,173.2 | ​ |  | 2,363.3
Principal International | ​ |  | 39,445.7 | ​ |  | 48,857.6
U.S. Insurance Solutions | ​ |  | 27,928.3 | ​ |  | 28,669.6
Corporate | ​ |  | 2,359.8 | ​ |  | 3,499.2
Total consolidated assets | ​ | $ | 246,903.9 | ​ | $ | 276,087.8
Reconciliation of Operating Revenues and Pre-tax Operating Earnings (Losses) by Segment (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended
​ | ​ | March 31,
​ |  | 2020 |  | 2019
​ | ​ | (in millions)
Operating revenues by segment: | ​ | ​ | ​ | ​ | ​ | ​
Retirement and Income Solutions: | ​ | ​ | ​ | ​ | ​ | ​
Retirement and Income Solutions – Fee | ​ | $ | 543.1 | ​ | $ | 430.8
Retirement and Income Solutions – Spread | ​ |  | 2,062.6 | ​ |  | 1,461.1
Total Retirement and Income Solutions (1) | ​ |  | 2,605.7 | ​ |  | 1,891.9
Principal Global Investors (2) | ​ |  | 390.8 | ​ |  | 339.0
Principal International | ​ |  | 300.5 | ​ |  | 380.5
U.S. Insurance Solutions: | ​ |  | ​ | ​ |  | ​
Specialty Benefits insurance | ​ | ​ | 639.0 | ​ | ​ | 601.8
Individual Life insurance | ​ |  | 484.3 | ​ |  | 466.3
Total U.S. Insurance Solutions | ​ | ​ | 1,123.3 | ​ | ​ | 1,068.1
Corporate | ​ | ​ | 9.3 | ​ | ​ | 1.2
Total segment operating revenues | ​ | ​ | 4,429.6 | ​ | ​ | 3,680.7
Net realized capital gains, net of related revenue adjustments | ​ | ​ | 132.3 | ​ | ​ | 83.7
Adjustments related to equity method investments | ​ | ​ | (10.6) | ​ | ​ | (20.5)
Total revenues per consolidated statements of operations | ​ | $ | 4,551.3 | ​ | $ | 3,743.9
​ | ​ | ​ | ​ | ​ | ​ | ​
Pre-tax operating earnings (losses) by segment: | ​ | ​ | ​ | ​ | ​ | ​
Retirement and Income Solutions | ​ | $ | 205.1 | ​ | $ | 240.6
Principal Global Investors | ​ |  | 111.7 | ​ |  | 100.7
Principal International | ​ |  | 30.8 | ​ |  | 111.1
U.S. Insurance Solutions | ​ |  | 129.5 | ​ |  | 110.7
Corporate | ​ |  | (91.1) | ​ |  | (84.4)
Total segment pre-tax operating earnings | ​ |  | 386.0 | ​ |  | 478.7
Pre-tax net realized capital gains (losses), as adjusted (3) | ​ |  | (67.1) | ​ |  | 65.6
Adjustments related to equity method investments and noncontrolling interest | ​ | ​ | 9.3 | ​ | ​ | (18.3)
Income before income taxes per consolidated statements of operations | ​ | $ | 328.2 | ​ | $ | 526.0
(1) | Reflects inter-segment revenues of $84.0 million and $85.7 million for the three months ended March 31, 2020 and 2019, respectively.
(2) | Reflects inter-segment revenues of $72.7 million and $61.5 million for the three months ended March 31, 2020 and 2019, respectively.
(3) | Pre-tax net realized capital gains (losses), as adjusted, is derived as follows:
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended
​ | ​ | March 31,
​ |  | 2020 |  | 2019
​ | ​ | (in millions)
Net realized capital gains: | ​ | ​ | ​ | ​ | ​ | ​
Net realized capital gains | ​ | $ | 131.4 | ​ | $ | 84.5
Derivative and hedging-related revenue adjustments | ​ |  | (13.6) | ​ |  | (11.5)
Adjustments related to equity method investments | ​ | ​ | (5.1) | ​ | ​ | (0.4)
Adjustments related to sponsored investment funds | ​ | ​ | 3.9 | ​ | ​ | 8.0
Recognition of front-end fee revenue | ​ | ​ | 15.7 | ​ | ​ | 3.1
Net realized capital gains, net of related revenue adjustments | ​ |  | 132.3 | ​ |  | 83.7
Amortization of deferred acquisition costs and other actuarial balances | ​ |  | (219.4) | ​ |  | (16.4)
Capital (gains) losses distributed | ​ |  | 43.4 | ​ |  | (8.7)
Market value adjustments of embedded derivatives | ​ |  | (23.4) | ​ |  | 7.0
Pre-tax net realized capital gains (losses), as adjusted (a) | ​ | $ | (67.1) | ​ | $ | 65.6
(a) | As adjusted before noncontrolling interest capital gains (losses).

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- Definition Tabular disclosure of the identification, description, and amounts of all significant reconciling items in the reconciliation of (1) operating revenues from reportable segments to consolidated revenues; (2) pre-tax operating earnings from reportable segments to consolidated income before income taxes; and (3) consolidated net realized capital gains (losses) to pre-tax net realized capital gains (losses), as adjusted, which includes the impacts of specific adjustments related to net realized capital gains (losses). + References No definition available. + Details
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