XML 45 R32.htm IDEA: XBRL DOCUMENT
v3.21.2

Revenues from Contracts with Customers (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2021
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,
​ |  | 2021 |  | 2020 |  | 2021 |  | 2020
​ | ​ | (in millions)
Revenue from contracts with customers by segment: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Retirement and Income Solutions: | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Retirement and Income Solutions – Fee | ​ | $ | 144.2 | ​ | $ | 133.4 | ​ | $ | 433.8 | ​ | $ | 441.0
Retirement and Income Solutions – Spread | ​ |  | 2.4 | ​ |  | 2.1 | ​ |  | 7.2 | ​ |  | 6.2
Total Retirement and Income Solutions | ​ | ​ | 146.6 | ​ | ​ | 135.5 | ​ | ​ | 441.0 | ​ | ​ | 447.2
Principal Global Investors | ​ |  | 453.5 | ​ |  | 377.0 | ​ |  | 1,303.6 | ​ |  | 1,108.1
Principal International | ​ |  | 125.1 | ​ |  | 111.1 | ​ |  | 373.5 | ​ |  | 322.2
U.S. Insurance Solutions: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Specialty Benefits insurance | ​ |  | 3.9 | ​ |  | 3.9 | ​ |  | 11.4 | ​ |  | 11.2
Individual Life insurance | ​ |  | 15.8 | ​ |  | 12.0 | ​ |  | 44.5 | ​ |  | 35.8
Eliminations | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (0.1) | ​ | ​ | (0.1)
Total U.S. Insurance Solutions | ​ | ​ | 19.7 | ​ | ​ | 15.9 | ​ | ​ | 55.8 | ​ | ​ | 46.9
Corporate | ​ |  | 51.6 | ​ |  | 42.4 | ​ |  | 155.9 | ​ |  | 111.2
Total segment revenue from contracts with customers | ​ |  | 796.5 | ​ |  | 681.9 | ​ |  | 2,329.8 | ​ |  | 2,035.6
Adjustments for fees and other revenues not within the scope of revenue recognition guidance (1) | ​ |  | 455.9 | ​ |  | 463.3 | ​ |  | 1,385.7 | ​ |  | 1,283.0
Pre-tax other adjustments (2) | ​ |  | (0.6) | ​ |  | (2.2) | ​ |  | (4.5) | ​ |  | 14.0
Total fees and other revenues per consolidated statements of operations | ​ | $ | 1,251.8 | ​ | $ | 1,143.0 | ​ | $ | 3,711.0 | ​ | $ | 3,332.6
(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,
​ |  | 2021 |  | 2020 |  | 2021 |  | ​ | 2020
​ | ​ | (in millions)
Administrative service fee revenue | ​ | $ | 144.2 | ​ | $ | 132.8 | ​ | $ | 431.4 | ​ | $ | 439.7
Other fee revenue | ​ | ​ | — | ​ | ​ | 0.6 | ​ | ​ | 2.4 | ​ | ​ | 1.3
Total revenues from contracts with customers | ​ | ​ | 144.2 | ​ | ​ | 133.4 | ​ | ​ | 433.8 | ​ | ​ | 441.0
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 324.1 | ​ | ​ | 293.5 | ​ | ​ | 964.3 | ​ | ​ | 829.1
Total fees and other revenues | ​ |  | 468.3 | ​ |  | 426.9 | ​ |  | 1,398.1 | ​ |  | 1,270.1
Premiums and other considerations | ​ |  | — | ​ |  | 0.7 | ​ |  | 0.5 | ​ |  | 3.4
Net investment income | ​ |  | 112.6 | ​ |  | 104.0 | ​ |  | 325.3 | ​ |  | 310.6
Total operating revenues | ​ | $ | 580.9 | ​ | $ | 531.6 | ​ | $ | 1,723.9 | ​ | $ | 1,584.1
​
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,
​ |  | 2021 |  | 2020 |  | 2021 |  | 2020
​ | ​ | (in millions)
Deposit account fee revenue | ​ | $ | 2.2 | ​ | $ | 2.1 | ​ | $ | 6.7 | ​ | $ | 6.2
Commission income | ​ | ​ | 0.2 | ​ | ​ | — | ​ | ​ | 0.5 | ​ | ​ | —
Total revenues from contracts with customers | ​ | ​ | 2.4 | ​ | ​ | 2.1 | ​ | ​ | 7.2 | ​ | ​ | 6.2
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 2.1 | ​ | ​ | 1.9 | ​ | ​ | 6.8 | ​ | ​ | 7.8
Total fees and other revenues | ​ |  | 4.5 | ​ |  | 4.0 | ​ |  | 14.0 | ​ |  | 14.0
Premiums and other considerations | ​ |  | 482.1 | ​ |  | 517.1 | ​ |  | 1,111.9 | ​ |  | 2,497.7
Net investment income | ​ |  | 585.4 | ​ |  | 527.2 | ​ |  | 1,698.0 | ​ |  | 1,569.8
Total operating revenues | ​ | $ | 1,072.0 | ​ | $ | 1,048.3 | ​ | $ | 2,823.9 | ​ | $ | 4,081.5
​
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,
​ |  | 2021 |  | 2020 |  | 2021 |  | 2020
​ | ​ | (in millions)
Management fee revenue | ​ | $ | 389.9 | ​ | $ | 330.2 | ​ | $ | 1,119.9 | ​ | $ | 954.7
Other fee revenue | ​ |  | 63.6 | ​ |  | 46.8 | ​ |  | 183.7 | ​ |  | 153.4
Total revenues from contracts with customers | ​ |  | 453.5 | ​ |  | 377.0 | ​ |  | 1,303.6 | ​ |  | 1,108.1
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 11.0 | ​ | ​ | 4.8 | ​ | ​ | 27.1 | ​ | ​ | 14.2
Total fees and other revenues | ​ |  | 464.5 | ​ |  | 381.8 | ​ |  | 1,330.7 | ​ |  | 1,122.3
Net investment income | ​ |  | 0.7 | ​ |  | 1.0 | ​ |  | 3.4 | ​ |  | 4.2
Total operating revenues | ​ | $ | 465.2 | ​ | $ | 382.8 | ​ | $ | 1,334.1 | ​ | $ | 1,126.5
​
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,
​ |  | 2021 |  | 2020 |  | 2021 |  | 2020
​ | ​ | (in millions)
Management fee revenue | ​ | $ | 123.0 | ​ | $ | 110.1 | ​ | $ | 367.8 | ​ | $ | 319.3
Other fee revenue | ​ |  | 2.1 | ​ |  | 1.0 | ​ |  | 5.7 | ​ |  | 2.9
Total revenues from contracts with customers | ​ |  | 125.1 | ​ |  | 111.1 | ​ |  | 373.5 | ​ |  | 322.2
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 1.0 | ​ | ​ | 1.4 | ​ | ​ | 3.1 | ​ | ​ | 4.2
Total fees and other revenues | ​ |  | 126.1 | ​ |  | 112.5 | ​ |  | 376.6 | ​ |  | 326.4
Premiums and other considerations | ​ |  | 36.6 | ​ |  | 16.6 | ​ |  | 105.8 | ​ |  | 130.2
Net investment income | ​ |  | 165.4 | ​ |  | 96.2 | ​ |  | 459.9 | ​ |  | 345.6
Total operating revenues | ​ | $ | 328.1 | ​ | $ | 225.3 | ​ | $ | 942.3 | ​ | $ | 802.2
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revenues from contracts with customers by region: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Latin America | ​ | $ | 91.5 | ​ | $ | 80.7 | ​ | $ | 273.3 | ​ | $ | 236.5
Asia | ​ |  | 33.5 | ​ |  | 30.5 | ​ |  | 99.3 | ​ |  | 85.8
Principal International corporate / regional offices | ​ |  | 0.5 | ​ |  | 0.2 | ​ |  | 2.0 | ​ |  | 0.7
Eliminations | ​ |  | (0.4) | ​ |  | (0.3) | ​ |  | (1.1) | ​ |  | (0.8)
Total revenues from contracts with customers | ​ | $ | 125.1 | ​ | $ | 111.1 | ​ | $ | 373.5 | ​ | $ | 322.2
​
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,
​ |  | 2021 |  | 2020 |  | 2021 |  | 2020
​ | ​ | (in millions)
Specialty Benefits insurance: | ​ | ​ | ​ |  | ​ |  | ​ | ​ | ​ | ​ | ​ | ​
Administrative service fees | ​ | $ | 3.9 | ​ | $ | 3.9 | ​ | $ | 11.4 | ​ | $ | 11.2
Total revenues from contracts with customers | ​ | ​ | 3.9 | ​ |  | 3.9 | ​ | ​ | 11.4 | ​ |  | 11.2
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 5.4 | ​ | ​ | 4.9 | ​ | ​ | 14.9 | ​ | ​ | 14.4
Total fees and other revenues | ​ | ​ | 9.3 | ​ |  | 8.8 | ​ | ​ | 26.3 | ​ |  | 25.6
Premiums and other considerations | ​ | ​ | 629.6 | ​ |  | 570.9 | ​ | ​ | 1,851.7 | ​ |  | 1,741.8
Net investment income | ​ | ​ | 45.5 | ​ |  | 38.4 | ​ | ​ | 129.9 | ​ |  | 116.7
Total operating revenues | ​ | $ | 684.4 | ​ | $ | 618.1 | ​ | $ | 2,007.9 | ​ | $ | 1,884.1
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended | ​ | For the nine months ended
​ | ​ | September 30, | ​ | September 30,
​ |  | 2021 |  | 2020 |  | 2021 |  | 2020
​ | ​ | (in millions)
Individual Life insurance: | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | ​
Administrative service fees | ​ | $ | 6.8 | ​ | $ | 5.4 | ​ | $ | 19.3 | ​ | $ | 16.1
Commission income | ​ | ​ | 9.0 | ​ |  | 6.6 | ​ | ​ | 25.2 | ​ |  | 19.7
Total revenues from contracts with customers | ​ | ​ | 15.8 | ​ |  | 12.0 | ​ | ​ | 44.5 | ​ |  | 35.8
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 204.1 | ​ | ​ | 232.6 | ​ | ​ | 635.8 | ​ | ​ | 634.4
Total fees and other revenues | ​ | ​ | 219.9 | ​ |  | 244.6 | ​ | ​ | 680.3 | ​ |  | 670.2
Premiums and other considerations | ​ | ​ | 82.2 | ​ |  | 79.0 | ​ | ​ | 265.4 | ​ |  | 255.3
Net investment income | ​ | ​ | 203.6 | ​ |  | 179.7 | ​ | ​ | 593.4 | ​ |  | 523.3
Total operating revenues | ​ | $ | 505.7 | ​ | $ | 503.3 | ​ | $ | 1,539.1 | ​ | $ | 1,448.8
​
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,
​ |  | 2021 |  | 2020 |  | 2021 |  | ​ | 2020
​ | ​ | (in millions)
Commission income | ​ | $ | 99.8 | ​ | $ | 78.0 | ​ | $ | 287.5 | ​ | $ | 231.0
Other fee revenue | ​ |  | 17.3 | ​ |  | 13.6 | ​ | ​ | 51.0 | ​ | ​ | 38.3
Eliminations | ​ |  | (65.5) | ​ |  | (49.2) | ​ | ​ | (182.6) | ​ | ​ | (158.1)
Total revenues from contracts with customers | ​ |  | 51.6 | ​ |  | 42.4 | ​ | ​ | 155.9 | ​ | ​ | 111.2
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | (91.8) | ​ | ​ | (75.8) | ​ | ​ | (266.3) | ​ | ​ | (221.1)
Total fees and other revenues | ​ |  | (40.2) | ​ |  | (33.4) | ​ | ​ | (110.4) | ​ | ​ | (109.9)
Net investment income | ​ |  | 25.9 | ​ |  | 16.4 | ​ | ​ | 88.6 | ​ | ​ | 85.9
Total operating revenues | ​ | $ | (14.3) | ​ | $ | (17.0) | ​ | $ | (21.8) | ​ | $ | (24.0)
​

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_DisaggregationOfRevenueLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_StatementBusinessSegmentsAxis=pfg_SegmentRetirementAndIncomeSolutionsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_SubsegmentsAxis=pfg_SubsegmentRetirementAndIncomeSolutionsFeeMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_SubsegmentsAxis=pfg_SubsegmentRetirementAndIncomeSolutionsSpreadMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_StatementBusinessSegmentsAxis=pfg_SegmentPrincipalGlobalInvestorsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_StatementBusinessSegmentsAxis=pfg_SegmentPrincipalInternationalMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_StatementBusinessSegmentsAxis=pfg_SegmentUSInsuranceSolutionsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_StatementBusinessSegmentsAxis=pfg_SegmentCorporateMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |