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v3.22.1

Revenues from Contracts with Customers (Tables) | 3 Months Ended
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Mar. 31, 2022
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended
​ | ​ | March 31,
​ |  | 2022 |  | 2021
​ | ​ | (in millions)
Revenue from contracts with customers by segment: | ​ | ​ | ​ | ​ | ​ | ​
Retirement and Income Solutions: | ​ | ​ | ​ |  | ​ | ​
Retirement and Income Solutions – Fee | ​ | $ | 141.7 | ​ | $ | 141.9
Retirement and Income Solutions – Spread | ​ |  | 2.7 | ​ |  | 2.4
Total Retirement and Income Solutions | ​ | ​ | 144.4 | ​ | ​ | 144.3
Principal Global Investors | ​ |  | 429.6 | ​ |  | 406.1
Principal International | ​ |  | 110.4 | ​ |  | 121.9
U.S. Insurance Solutions: | ​ |  | ​ | ​ |  | ​
Specialty Benefits insurance | ​ |  | 4.0 | ​ |  | 3.7
Individual Life insurance | ​ |  | 15.4 | ​ |  | 13.7
Total U.S. Insurance Solutions | ​ | ​ | 19.4 | ​ | ​ | 17.4
Corporate | ​ |  | 47.9 | ​ |  | 48.4
Total segment revenue from contracts with customers | ​ |  | 751.7 | ​ |  | 738.1
Adjustments for fees and other revenues not within the scope of revenue recognition guidance (1) | ​ |  | 465.2 | ​ |  | 463.7
Pre-tax other adjustments (2) | ​ |  | (1.9) | ​ |  | (7.9)
Total fees and other revenues per consolidated statements of operations | ​ | $ | 1,215.0 | ​ | $ | 1,193.9
(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,
​ |  | 2022 |  | 2021
​ | ​ | (in millions)
Administrative service fee revenue | ​ | $ | 141.5 | ​ | $ | 141.8
Other fee revenue | ​ | ​ | 0.2 | ​ | ​ | 0.1
Total revenues from contracts with customers | ​ | ​ | 141.7 | ​ | ​ | 141.9
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 318.3 | ​ | ​ | 313.7
Total fees and other revenues | ​ |  | 460.0 | ​ |  | 455.6
Premiums and other considerations | ​ |  | — | ​ |  | 0.5
Net investment income | ​ |  | 118.8 | ​ |  | 107.0
Total operating revenues | ​ | $ | 578.8 | ​ | $ | 563.1
​
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
​ | ​ | March 31,
​ |  | 2022 |  | 2021
​ | ​ | (in millions)
Deposit account fee revenue | ​ | $ | 2.5 | ​ | $ | 2.3
Commission income | ​ | ​ | 0.2 | ​ | ​ | 0.1
Total revenues from contracts with customers | ​ | ​ | 2.7 | ​ | ​ | 2.4
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 1.1 | ​ | ​ | 2.0
Total fees and other revenues | ​ |  | 3.8 | ​ |  | 4.4
Premiums and other considerations | ​ |  | 123.3 | ​ |  | 104.8
Net investment income | ​ |  | 577.1 | ​ |  | 551.7
Total operating revenues | ​ | $ | 704.2 | ​ | $ | 660.9
​
Principal Global Investors |
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended
​ | ​ | March 31,
​ |  | 2022 |  | 2021
​ | ​ | (in millions)
Management fee revenue | ​ | $ | 379.0 | ​ | $ | 355.9
Other fee revenue | ​ |  | 50.6 | ​ |  | 50.2
Total revenues from contracts with customers | ​ |  | 429.6 | ​ |  | 406.1
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 5.3 | ​ | ​ | 8.0
Total fees and other revenues | ​ |  | 434.9 | ​ |  | 414.1
Net investment income | ​ |  | 0.4 | ​ |  | 1.1
Total operating revenues | ​ | $ | 435.3 | ​ | $ | 415.2
​
Principal International |
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended
​ | ​ | March 31,
​ |  | 2022 |  | 2021
​ | ​ | (in millions)
Management fee revenue | ​ | $ | 107.7 | ​ | $ | 120.1
Other fee revenue | ​ |  | 2.7 | ​ |  | 1.8
Total revenues from contracts with customers | ​ |  | 110.4 | ​ |  | 121.9
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 1.2 | ​ | ​ | 1.0
Total fees and other revenues | ​ |  | 111.6 | ​ |  | 122.9
Premiums and other considerations | ​ |  | 10.3 | ​ |  | 27.3
Net investment income | ​ |  | 193.0 | ​ |  | 157.8
Total operating revenues | ​ | $ | 314.9 | ​ | $ | 308.0
​ | ​ | ​ | ​ | ​ | ​ | ​
Revenues from contracts with customers by region: | ​ |  | ​ | ​ |  | ​
Latin America | ​ | $ | 82.0 | ​ | $ | 89.1
Asia | ​ |  | 28.3 | ​ |  | 32.3
Principal International corporate / regional offices | ​ |  | 0.4 | ​ |  | 0.8
Eliminations | ​ |  | (0.3) | ​ |  | (0.3)
Total revenues from contracts with customers | ​ | $ | 110.4 | ​ | $ | 121.9
​
U.S. Insurance Solutions |
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended
​ | ​ | March 31,
​ |  | 2022 |  | 2021
​ | ​ | (in millions)
Specialty Benefits insurance: | ​ | ​ | ​ |  | ​ |
Administrative service fees | ​ | $ | 4.0 | ​ | $ | 3.7
Total revenues from contracts with customers | ​ | ​ | 4.0 | ​ |  | 3.7
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 4.7 | ​ | ​ | 4.8
Total fees and other revenues | ​ | ​ | 8.7 | ​ |  | 8.5
Premiums and other considerations | ​ | ​ | 665.6 | ​ |  | 605.3
Net investment income | ​ | ​ | 43.4 | ​ |  | 41.8
Total operating revenues | ​ | $ | 717.7 | ​ | $ | 655.6
​
​ | ​ | ​ | ​ | ​ | ​ | ​
Individual Life insurance: | ​ | ​ | ​ | ​ |  | ​
Administrative service fees | ​ | $ | 6.8 | ​ | $ | 5.9
Commission income | ​ | ​ | 8.6 | ​ |  | 7.8
Total revenues from contracts with customers | ​ | ​ | 15.4 | ​ |  | 13.7
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 226.0 | ​ | ​ | 220.2
Total fees and other revenues | ​ | ​ | 241.4 | ​ |  | 233.9
Premiums and other considerations | ​ | ​ | 88.8 | ​ |  | 97.2
Net investment income | ​ | ​ | 193.2 | ​ |  | 188.2
Total operating revenues | ​ | $ | 523.4 | ​ | $ | 519.3
​
Corporate |
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended
​ | ​ | March 31,
​ |  | 2022 |  | 2021
​ | ​ | (in millions)
Commission income | ​ | $ | 97.2 | ​ | $ | 92.0
Other fee revenue | ​ |  | 19.8 | ​ |  | 16.3
Eliminations | ​ |  | (69.1) | ​ |  | (59.9)
Total revenues from contracts with customers | ​ |  | 47.9 | ​ |  | 48.4
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | (91.4) | ​ | ​ | (86.0)
Total fees and other revenues | ​ |  | (43.5) | ​ |  | (37.6)
Premiums and other considerations | ​ | ​ | (0.5) | ​ | ​ | —
Net investment income | ​ |  | 43.7 | ​ |  | 29.0
Total operating revenues | ​ | $ | (0.3) | ​ | $ | (8.6)
​

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