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v3.20.2

Revenues from Contracts with Customers (Tables) | 9 Months Ended
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Sep. 30, 2020
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended | ​ | For the nine months ended
​ | ​ | September 30, | ​ | September 30,
​ |  | 2020 |  | 2019 |  | 2020 |  | 2019
​ | ​ | (in millions)
Revenue from contracts with customers by segment: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Retirement and Income Solutions: | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Retirement and Income Solutions – Fee | ​ | $ | 133.4 | ​ | $ | 156.0 | ​ | $ | 441.0 | ​ | $ | 278.3
Retirement and Income Solutions – Spread | ​ |  | 2.1 | ​ |  | 2.3 | ​ |  | 6.2 | ​ |  | 7.5
Total Retirement and Income Solutions | ​ | ​ | 135.5 | ​ | ​ | 158.3 | ​ | ​ | 447.2 | ​ | ​ | 285.8
Principal Global Investors | ​ |  | 377.0 | ​ |  | 362.8 | ​ |  | 1,108.1 | ​ |  | 1,041.3
Principal International | ​ |  | 111.1 | ​ |  | 114.8 | ​ |  | 322.2 | ​ |  | 345.9
U.S. Insurance Solutions: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Specialty Benefits insurance | ​ |  | 3.9 | ​ |  | 3.8 | ​ |  | 11.2 | ​ |  | 11.1
Individual Life insurance | ​ |  | 12.0 | ​ |  | 12.8 | ​ |  | 35.8 | ​ |  | 37.4
Eliminations | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (0.1) | ​ | ​ | (0.1)
Total U.S. Insurance Solutions | ​ | ​ | 15.9 | ​ | ​ | 16.6 | ​ | ​ | 46.9 | ​ | ​ | 48.4
Corporate | ​ |  | 42.4 | ​ |  | 39.5 | ​ |  | 111.2 | ​ |  | 119.0
Total segment revenue from contracts with customers | ​ |  | 681.9 | ​ |  | 692.0 | ​ |  | 2,035.6 | ​ |  | 1,840.4
Adjustments for fees and other revenues not within the scope of revenue recognition guidance (1) | ​ |  | 463.3 | ​ |  | 532.2 | ​ |  | 1,283.0 | ​ |  | 1,356.6
Pre-tax other adjustments (2) | ​ |  | (2.2) | ​ |  | 5.8 | ​ |  | 14.0 | ​ |  | 13.1
Total fees and other revenues per consolidated statements of operations | ​ | $ | 1,143.0 | ​ | $ | 1,230.0 | ​ | $ | 3,332.6 | ​ | $ | 3,210.1
(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 nine months ended
​ | ​ | September 30, | ​ | September 30,
​ |  | 2020 |  | 2019 |  | 2020 |  | ​ | 2019
​ | ​ | (in millions)
Administrative service fee revenue (1) | ​ | $ | 132.8 | ​ | $ | 155.5 | ​ | $ | 439.7 | ​ | $ | 277.0
Other fee revenue | ​ | ​ | 0.6 | ​ | ​ | 0.5 | ​ | ​ | 1.3 | ​ | ​ | 1.3
Total revenues from contracts with customers | ​ | ​ | 133.4 | ​ | ​ | 156.0 | ​ | ​ | 441.0 | ​ | ​ | 278.3
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 293.5 | ​ | ​ | 301.2 | ​ | ​ | 829.1 | ​ | ​ | 854.6
Total fees and other revenues | ​ |  | 426.9 | ​ |  | 457.2 | ​ |  | 1,270.1 | ​ |  | 1,132.9
Premiums and other considerations | ​ |  | 0.7 | ​ |  | 1.0 | ​ |  | 3.4 | ​ |  | 2.7
Net investment income | ​ |  | 104.0 | ​ |  | 101.2 | ​ |  | 310.6 | ​ |  | 305.1
Total operating revenues | ​ | $ | 531.6 | ​ | $ | 559.4 | ​ | $ | 1,584.1 | ​ | $ | 1,440.7
(1) | Includes fee revenue for the Acquired Business beginning in the third quarter of 2019.
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 nine months ended
​ | ​ | September 30, | ​ | September 30,
​ |  | 2020 |  | 2019 |  | 2020 |  | 2019
​ | ​ | (in millions)
Deposit account fee revenue | ​ | $ | 2.1 | ​ | $ | 2.3 | ​ | $ | 6.2 | ​ | $ | 7.5
Total revenues from contracts with customers | ​ | ​ | 2.1 | ​ | ​ | 2.3 | ​ | ​ | 6.2 | ​ | ​ | 7.5
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 1.9 | ​ | ​ | 2.6 | ​ | ​ | 7.8 | ​ | ​ | 11.7
Total fees and other revenues | ​ |  | 4.0 | ​ |  | 4.9 | ​ |  | 14.0 | ​ |  | 19.2
Premiums and other considerations | ​ |  | 517.1 | ​ |  | 1,499.3 | ​ |  | 2,497.7 | ​ |  | 3,628.3
Net investment income | ​ |  | 527.2 | ​ |  | 509.5 | ​ |  | 1,569.8 | ​ |  | 1,536.4
Total operating revenues | ​ | $ | 1,048.3 | ​ | $ | 2,013.7 | ​ | $ | 4,081.5 | ​ | $ | 5,183.9
​
Principal Global Investors |
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended | ​ | For the nine months ended
​ | ​ | September 30, | ​ | September 30,
​ |  | 2020 |  | 2019 |  | 2020 |  | 2019
​ | ​ | (in millions)
Management fee revenue | ​ | $ | 330.2 | ​ | $ | 315.3 | ​ | $ | 954.7 | ​ | $ | 912.3
Other fee revenue | ​ |  | 46.8 | ​ |  | 47.5 | ​ |  | 153.4 | ​ |  | 129.0
Total revenues from contracts with customers | ​ |  | 377.0 | ​ |  | 362.8 | ​ |  | 1,108.1 | ​ |  | 1,041.3
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 4.8 | ​ | ​ | 5.1 | ​ | ​ | 14.2 | ​ | ​ | 19.8
Total fees and other revenues | ​ |  | 381.8 | ​ |  | 367.9 | ​ |  | 1,122.3 | ​ |  | 1,061.1
Net investment income | ​ |  | 1.0 | ​ |  | 2.0 | ​ |  | 4.2 | ​ |  | 7.3
Total operating revenues | ​ | $ | 382.8 | ​ | $ | 369.9 | ​ | $ | 1,126.5 | ​ | $ | 1,068.4
​
Principal International |
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended | ​ | For the nine months ended
​ | ​ | September 30, | ​ | September 30,
​ |  | 2020 |  | 2019 |  | 2020 |  | 2019
​ | ​ | (in millions)
Management fee revenue | ​ | $ | 110.1 | ​ | $ | 114.0 | ​ | $ | 319.3 | ​ | $ | 343.8
Other fee revenue | ​ |  | 1.0 | ​ |  | 0.8 | ​ |  | 2.9 | ​ |  | 2.1
Total revenues from contracts with customers | ​ |  | 111.1 | ​ |  | 114.8 | ​ |  | 322.2 | ​ |  | 345.9
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 1.4 | ​ | ​ | 1.6 | ​ | ​ | 4.2 | ​ | ​ | 5.0
Total fees and other revenues | ​ |  | 112.5 | ​ |  | 116.4 | ​ |  | 326.4 | ​ |  | 350.9
Premiums and other considerations | ​ |  | 16.6 | ​ |  | 115.8 | ​ |  | 130.2 | ​ |  | 342.8
Net investment income | ​ |  | 96.2 | ​ |  | 172.4 | ​ |  | 345.6 | ​ |  | 503.0
Total operating revenues | ​ | $ | 225.3 | ​ | $ | 404.6 | ​ | $ | 802.2 | ​ | $ | 1,196.7
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revenues from contracts with customers by region: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Latin America | ​ | $ | 80.7 | ​ | $ | 87.0 | ​ | $ | 236.5 | ​ | $ | 263.7
Asia | ​ |  | 30.5 | ​ |  | 27.8 | ​ |  | 85.8 | ​ |  | 82.4
Principal International corporate / regional offices | ​ |  | 0.2 | ​ |  | 0.3 | ​ |  | 0.7 | ​ |  | 0.7
Eliminations | ​ |  | (0.3) | ​ |  | (0.3) | ​ |  | (0.8) | ​ |  | (0.9)
Total revenues from contracts with customers | ​ | $ | 111.1 | ​ | $ | 114.8 | ​ | $ | 322.2 | ​ | $ | 345.9
​
U.S. Insurance Solutions |
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended | ​ | For the nine months ended
​ | ​ | September 30, | ​ | September 30,
​ |  | 2020 |  | 2019 |  | 2020 |  | 2019
​ | ​ | (in millions)
Specialty Benefits insurance: | ​ | ​ | ​ |  | ​ |  | ​ | ​ | ​ | ​ | ​ | ​
Administrative service fees | ​ | $ | 3.9 | ​ | $ | 3.8 | ​ | $ | 11.2 | ​ | $ | 11.1
Total revenues from contracts with customers | ​ | ​ | 3.9 | ​ |  | 3.8 | ​ | ​ | 11.2 | ​ |  | 11.1
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 4.9 | ​ | ​ | 4.8 | ​ | ​ | 14.4 | ​ | ​ | 14.6
Total fees and other revenues | ​ | ​ | 8.8 | ​ |  | 8.6 | ​ | ​ | 25.6 | ​ |  | 25.7
Premiums and other considerations | ​ | ​ | 570.9 | ​ |  | 579.0 | ​ | ​ | 1,741.8 | ​ |  | 1,706.5
Net investment income | ​ | ​ | 38.4 | ​ |  | 42.2 | ​ | ​ | 116.7 | ​ |  | 125.2
Total operating revenues | ​ | $ | 618.1 | ​ | $ | 629.8 | ​ | $ | 1,884.1 | ​ | $ | 1,857.4
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended | ​ | For the nine months ended
​ | ​ | September 30, | ​ | September 30,
​ |  | 2020 |  | 2019 |  | 2020 |  | 2019
​ | ​ | (in millions)
Individual Life insurance: | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | ​
Administrative service fees | ​ | $ | 5.4 | ​ | $ | 6.1 | ​ | $ | 16.1 | ​ | $ | 18.2
Commission income | ​ | ​ | 6.6 | ​ |  | 6.7 | ​ | ​ | 19.7 | ​ |  | 19.2
Total revenues from contracts with customers | ​ | ​ | 12.0 | ​ |  | 12.8 | ​ | ​ | 35.8 | ​ |  | 37.4
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 232.6 | ​ | ​ | 292.1 | ​ | ​ | 634.4 | ​ | ​ | 674.6
Total fees and other revenues | ​ | ​ | 244.6 | ​ |  | 304.9 | ​ | ​ | 670.2 | ​ |  | 712.0
Premiums and other considerations | ​ | ​ | 79.0 | ​ |  | 79.1 | ​ | ​ | 255.3 | ​ |  | 251.7
Net investment income | ​ | ​ | 179.7 | ​ |  | 178.8 | ​ | ​ | 523.3 | ​ |  | 527.0
Total operating revenues | ​ | $ | 503.3 | ​ | $ | 562.8 | ​ | $ | 1,448.8 | ​ | $ | 1,490.7
​
Corporate |
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended | ​ | For the nine months ended
​ | ​ | September 30, | ​ | September 30,
​ |  | 2020 |  | 2019 |  | 2020 |  | ​ | 2019
​ | ​ | (in millions)
Commission income | ​ | $ | 78.0 | ​ | $ | 82.0 | ​ | $ | 231.0 | ​ | $ | 236.5
Other fee revenue | ​ |  | 13.6 | ​ |  | 12.5 | ​ | ​ | 38.3 | ​ | ​ | 32.5
Eliminations | ​ |  | (49.2) | ​ |  | (55.0) | ​ | ​ | (158.1) | ​ | ​ | (150.0)
Total revenues from contracts with customers | ​ |  | 42.4 | ​ |  | 39.5 | ​ | ​ | 111.2 | ​ | ​ | 119.0
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | (75.8) | ​ | ​ | (75.2) | ​ | ​ | (221.1) | ​ | ​ | (223.7)
Total fees and other revenues | ​ |  | (33.4) | ​ |  | (35.7) | ​ | ​ | (109.9) | ​ | ​ | (104.7)
Net investment income | ​ |  | 16.4 | ​ |  | 19.3 | ​ | ​ | 85.9 | ​ | ​ | 73.7
Total operating revenues | ​ | $ | (17.0) | ​ | $ | (16.4) | ​ | $ | (24.0) | ​ | $ | (31.0)
​

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