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v3.20.2

Revenues from Contracts with Customers (Tables) | 6 Months Ended
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Jun. 30, 2020
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended | ​ | For the six months ended
​ | ​ | June 30, | ​ | June 30,
​ |  | 2020 |  | 2019 |  | 2020 |  | 2019
​ | ​ | (in millions)
Revenue from contracts with customers by segment: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Retirement and Income Solutions: | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Retirement and Income Solutions – Fee | ​ | $ | 151.2 | ​ | $ | 63.9 | ​ | $ | 307.6 | ​ | $ | 122.3
Retirement and Income Solutions – Spread | ​ |  | 2.0 | ​ |  | 2.3 | ​ |  | 4.1 | ​ |  | 5.2
Total Retirement and Income Solutions | ​ | ​ | 153.2 | ​ | ​ | 66.2 | ​ | ​ | 311.7 | ​ | ​ | 127.5
Principal Global Investors | ​ |  | 348.2 | ​ |  | 346.2 | ​ |  | 731.1 | ​ |  | 678.5
Principal International | ​ |  | 101.6 | ​ |  | 116.2 | ​ |  | 211.1 | ​ |  | 231.1
U.S. Insurance Solutions: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Specialty Benefits insurance | ​ |  | 3.5 | ​ |  | 3.6 | ​ |  | 7.3 | ​ |  | 7.3
Individual Life insurance | ​ |  | 11.0 | ​ |  | 12.6 | ​ |  | 23.8 | ​ |  | 24.6
Eliminations | ​ | ​ | (0.1) | ​ | ​ | (0.1) | ​ | ​ | (0.1) | ​ | ​ | (0.1)
Total U.S. Insurance Solutions | ​ | ​ | 14.4 | ​ | ​ | 16.1 | ​ | ​ | 31.0 | ​ | ​ | 31.8
Corporate | ​ |  | 35.9 | ​ |  | 42.5 | ​ |  | 68.8 | ​ |  | 79.5
Total segment revenue from contracts with customers | ​ |  | 653.3 | ​ |  | 587.2 | ​ |  | 1,353.7 | ​ |  | 1,148.4
Adjustments for fees and other revenues not within the scope of revenue recognition guidance (1) | ​ |  | 390.5 | ​ |  | 415.2 | ​ |  | 819.7 | ​ |  | 824.4
Pre-tax other adjustments (2) | ​ |  | 0.5 | ​ |  | 4.2 | ​ |  | 16.2 | ​ |  | 7.3
Total fees and other revenues per consolidated statements of operations | ​ | $ | 1,044.3 | ​ | $ | 1,006.6 | ​ | $ | 2,189.6 | ​ | $ | 1,980.1
(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 | ​ | For the six months ended
​ | ​ | June 30, | ​ | June 30,
​ |  | 2020 |  | 2019 |  | 2020 |  | ​ | 2019
​ | ​ | (in millions)
Administrative service fee revenue (1) | ​ | $ | 150.7 | ​ | $ | 63.3 | ​ | $ | 306.9 | ​ | $ | 121.5
Other fee revenue | ​ | ​ | 0.5 | ​ | ​ | 0.6 | ​ | ​ | 0.7 | ​ | ​ | 0.8
Total revenues from contracts with customers | ​ | ​ | 151.2 | ​ | ​ | 63.9 | ​ | ​ | 307.6 | ​ | ​ | 122.3
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 255.1 | ​ | ​ | 281.6 | ​ | ​ | 535.6 | ​ | ​ | 553.4
Total fees and other revenues | ​ |  | 406.3 | ​ |  | 345.5 | ​ |  | 843.2 | ​ |  | 675.7
Premiums and other considerations | ​ |  | 0.9 | ​ |  | 0.6 | ​ |  | 2.7 | ​ |  | 1.7
Net investment income | ​ |  | 102.2 | ​ |  | 104.4 | ​ |  | 206.6 | ​ |  | 203.9
Total operating revenues | ​ | $ | 509.4 | ​ | $ | 450.5 | ​ | $ | 1,052.5 | ​ | $ | 881.3
(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 | ​ | For the six months ended
​ | ​ | June 30, | ​ | June 30,
​ |  | 2020 |  | 2019 |  | 2020 |  | 2019
​ | ​ | (in millions)
Deposit account fee revenue | ​ | $ | 2.0 | ​ | $ | 2.3 | ​ | $ | 4.1 | ​ | $ | 5.2
Total revenues from contracts with customers | ​ | ​ | 2.0 | ​ | ​ | 2.3 | ​ | ​ | 4.1 | ​ | ​ | 5.2
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 2.8 | ​ | ​ | 4.2 | ​ | ​ | 5.9 | ​ | ​ | 9.1
Total fees and other revenues | ​ |  | 4.8 | ​ |  | 6.5 | ​ |  | 10.0 | ​ |  | 14.3
Premiums and other considerations | ​ |  | 459.5 | ​ |  | 1,171.5 | ​ |  | 1,980.6 | ​ |  | 2,129.0
Net investment income | ​ |  | 506.3 | ​ |  | 531.1 | ​ |  | 1,042.6 | ​ |  | 1,026.9
Total operating revenues | ​ | $ | 970.6 | ​ | $ | 1,709.1 | ​ | $ | 3,033.2 | ​ | $ | 3,170.2
​
Principal Global Investors |
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended | ​ | For the six months ended
​ | ​ | June 30, | ​ | June 30,
​ |  | 2020 |  | 2019 |  | 2020 |  | 2019
​ | ​ | (in millions)
Management fee revenue | ​ | $ | 303.5 | ​ | $ | 304.2 | ​ | $ | 624.5 | ​ | $ | 597.0
Other fee revenue | ​ |  | 44.7 | ​ |  | 42.0 | ​ |  | 106.6 | ​ |  | 81.5
Total revenues from contracts with customers | ​ |  | 348.2 | ​ |  | 346.2 | ​ |  | 731.1 | ​ |  | 678.5
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 3.9 | ​ | ​ | 10.4 | ​ | ​ | 9.4 | ​ | ​ | 14.7
Total fees and other revenues | ​ |  | 352.1 | ​ |  | 356.6 | ​ |  | 740.5 | ​ |  | 693.2
Net investment income | ​ |  | 0.8 | ​ |  | 2.9 | ​ |  | 3.2 | ​ |  | 5.3
Total operating revenues | ​ | $ | 352.9 | ​ | $ | 359.5 | ​ | $ | 743.7 | ​ | $ | 698.5
​
Principal International |
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended | ​ | For the six months ended
​ | ​ | June 30, | ​ | June 30,
​ |  | 2020 |  | 2019 |  | 2020 |  | 2019
​ | ​ | (in millions)
Management fee revenue | ​ | $ | 100.7 | ​ | $ | 115.5 | ​ | $ | 209.2 | ​ | $ | 229.8
Other fee revenue | ​ |  | 0.9 | ​ |  | 0.7 | ​ |  | 1.9 | ​ |  | 1.3
Total revenues from contracts with customers | ​ |  | 101.6 | ​ |  | 116.2 | ​ |  | 211.1 | ​ |  | 231.1
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 1.5 | ​ | ​ | 1.7 | ​ | ​ | 2.8 | ​ | ​ | 3.4
Total fees and other revenues | ​ |  | 103.1 | ​ |  | 117.9 | ​ |  | 213.9 | ​ |  | 234.5
Premiums and other considerations | ​ |  | 28.6 | ​ |  | 109.5 | ​ |  | 113.6 | ​ |  | 227.0
Net investment income | ​ |  | 144.7 | ​ |  | 184.2 | ​ |  | 249.4 | ​ |  | 330.6
Total operating revenues | ​ | $ | 276.4 | ​ | $ | 411.6 | ​ | $ | 576.9 | ​ | $ | 792.1
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revenues from contracts with customers by region: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Latin America | ​ | $ | 74.3 | ​ | $ | 88.6 | ​ | $ | 155.8 | ​ | $ | 176.7
Asia | ​ |  | 27.3 | ​ |  | 27.6 | ​ |  | 55.3 | ​ |  | 54.6
Principal International corporate / regional offices | ​ |  | 0.3 | ​ |  | 0.2 | ​ |  | 0.5 | ​ |  | 0.4
Eliminations | ​ |  | (0.3) | ​ |  | (0.2) | ​ |  | (0.5) | ​ |  | (0.6)
Total revenues from contracts with customers | ​ | $ | 101.6 | ​ | $ | 116.2 | ​ | $ | 211.1 | ​ | $ | 231.1
​
U.S. Insurance Solutions |
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended | ​ | For the six months ended
​ | ​ | June 30, | ​ | June 30,
​ |  | 2020 |  | 2019 |  | 2020 |  | 2019
​ | ​ | (in millions)
Specialty Benefits insurance: | ​ | ​ | ​ |  | ​ |  | ​ | ​ | ​ | ​ | ​ | ​
Administrative service fees | ​ | $ | 3.5 | ​ | $ | 3.6 | ​ | $ | 7.3 | ​ | $ | 7.3
Total revenues from contracts with customers | ​ | ​ | 3.5 | ​ |  | 3.6 | ​ | ​ | 7.3 | ​ |  | 7.3
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 4.6 | ​ | ​ | 4.9 | ​ | ​ | 9.5 | ​ | ​ | 9.8
Total fees and other revenues | ​ | ​ | 8.1 | ​ |  | 8.5 | ​ | ​ | 16.8 | ​ |  | 17.1
Premiums and other considerations | ​ | ​ | 582.5 | ​ |  | 571.6 | ​ | ​ | 1,170.9 | ​ |  | 1,127.5
Net investment income | ​ | ​ | 36.4 | ​ |  | 45.7 | ​ | ​ | 78.3 | ​ |  | 83.0
Total operating revenues | ​ | $ | 627.0 | ​ | $ | 625.8 | ​ | $ | 1,266.0 | ​ | $ | 1,227.6
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended | ​ | For the six months ended
​ | ​ | June 30, | ​ | June 30,
​ |  | 2020 |  | 2019 |  | 2020 |  | 2019
​ | ​ | (in millions)
Individual Life insurance: | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | ​
Administrative service fees | ​ | $ | 5.0 | ​ | $ | 6.2 | ​ | $ | 10.7 | ​ | $ | 12.1
Commission income | ​ | ​ | 6.0 | ​ |  | 6.4 | ​ | ​ | 13.1 | ​ |  | 12.5
Total revenues from contracts with customers | ​ | ​ | 11.0 | ​ |  | 12.6 | ​ | ​ | 23.8 | ​ |  | 24.6
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 191.8 | ​ | ​ | 190.3 | ​ | ​ | 401.8 | ​ | ​ | 382.5
Total fees and other revenues | ​ | ​ | 202.8 | ​ |  | 202.9 | ​ | ​ | 425.6 | ​ |  | 407.1
Premiums and other considerations | ​ | ​ | 81.6 | ​ |  | 79.7 | ​ | ​ | 176.3 | ​ |  | 172.6
Net investment income | ​ | ​ | 176.8 | ​ |  | 179.0 | ​ | ​ | 343.6 | ​ |  | 348.2
Total operating revenues | ​ | $ | 461.2 | ​ | $ | 461.6 | ​ | $ | 945.5 | ​ | $ | 927.9
​
Corporate |
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended | ​ | For the six months ended
​ | ​ | June 30, | ​ | June 30,
​ |  | 2020 |  | 2019 |  | 2020 |  | ​ | 2019
​ | ​ | (in millions)
Commission income | ​ | $ | 72.6 | ​ | $ | 78.7 | ​ | $ | 153.0 | ​ | $ | 154.5
Other fee revenue | ​ |  | 13.6 | ​ |  | 11.2 | ​ | ​ | 24.7 | ​ | ​ | 20.0
Eliminations | ​ |  | (50.3) | ​ |  | (47.4) | ​ | ​ | (108.9) | ​ | ​ | (95.0)
Total revenues from contracts with customers | ​ |  | 35.9 | ​ |  | 42.5 | ​ | ​ | 68.8 | ​ | ​ | 79.5
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | (69.2) | ​ | ​ | (77.9) | ​ | ​ | (145.3) | ​ | ​ | (148.5)
Total fees and other revenues | ​ |  | (33.3) | ​ |  | (35.4) | ​ | ​ | (76.5) | ​ | ​ | (69.0)
Net investment income | ​ |  | 17.0 | ​ |  | 19.6 | ​ | ​ | 69.5 | ​ | ​ | 54.4
Total operating revenues | ​ | $ | (16.3) | ​ | $ | (15.8) | ​ | $ | (7.0) | ​ | $ | (14.6)
​

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