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v3.22.2.2

Revenues from Contracts with Customers (Tables) | 9 Months Ended
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Sep. 30, 2022
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,
​ |  | 2022 |  | 2021 |  | 2022 |  | 2021
​ | ​ | (in millions)
Revenue from contracts with customers by segment: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Retirement and Income Solutions: | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Retirement and Income Solutions – Fee | ​ | $ | 130.8 | ​ | $ | 144.2 | ​ | $ | 411.0 | ​ | $ | 433.8
Retirement and Income Solutions – Spread | ​ |  | 3.0 | ​ |  | 2.4 | ​ |  | 8.5 | ​ |  | 7.2
Total Retirement and Income Solutions | ​ | ​ | 133.8 | ​ | ​ | 146.6 | ​ | ​ | 419.5 | ​ | ​ | 441.0
Principal Global Investors | ​ |  | 395.8 | ​ |  | 453.5 | ​ |  | 1,277.0 | ​ |  | 1,303.6
Principal International | ​ |  | 102.3 | ​ |  | 125.1 | ​ |  | 321.9 | ​ |  | 373.5
U.S. Insurance Solutions: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Specialty Benefits insurance | ​ |  | 3.7 | ​ |  | 3.9 | ​ |  | 11.4 | ​ |  | 11.4
Individual Life insurance | ​ |  | 17.0 | ​ |  | 15.8 | ​ |  | 48.6 | ​ |  | 44.5
Eliminations | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (0.1) | ​ | ​ | (0.1)
Total U.S. Insurance Solutions | ​ | ​ | 20.7 | ​ | ​ | 19.7 | ​ | ​ | 59.9 | ​ | ​ | 55.8
Corporate | ​ |  | 40.3 | ​ |  | 51.6 | ​ |  | 115.9 | ​ |  | 155.9
Total segment revenue from contracts with customers | ​ |  | 692.9 | ​ |  | 796.5 | ​ |  | 2,194.2 | ​ |  | 2,329.8
Adjustments for fees and other revenues not within the scope of revenue recognition guidance (1) | ​ |  | 319.2 | ​ |  | 455.9 | ​ |  | 946.5 | ​ |  | 1,385.7
Pre-tax other adjustments (2) | ​ |  | 3.6 | ​ |  | (0.6) | ​ |  | 37.6 | ​ |  | (4.5)
Total fees and other revenues per consolidated statements of operations | ​ | $ | 1,015.7 | ​ | $ | 1,251.8 | ​ | $ | 3,178.3 | ​ | $ | 3,711.0
(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 revenues from exited business and 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,
​ |  | 2022 |  | 2021 |  | 2022 |  | ​ | 2021
​ | ​ | (in millions)
Administrative service fee revenue | ​ | $ | 129.9 | ​ | $ | 144.2 | ​ | $ | 408.9 | ​ | $ | 431.4
Other fee revenue | ​ | ​ | 0.9 | ​ | ​ | — | ​ | ​ | 2.1 | ​ | ​ | 2.4
Total revenues from contracts with customers | ​ | ​ | 130.8 | ​ | ​ | 144.2 | ​ | ​ | 411.0 | ​ | ​ | 433.8
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 291.3 | ​ | ​ | 324.1 | ​ | ​ | 900.5 | ​ | ​ | 964.3
Total fees and other revenues | ​ |  | 422.1 | ​ |  | 468.3 | ​ |  | 1,311.5 | ​ |  | 1,398.1
Premiums and other considerations | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 0.5
Net investment income | ​ |  | 129.4 | ​ |  | 112.6 | ​ |  | 382.3 | ​ |  | 325.3
Total operating revenues | ​ | $ | 551.5 | ​ | $ | 580.9 | ​ | $ | 1,693.8 | ​ | $ | 1,723.9
​
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,
​ |  | 2022 |  | 2021 |  | 2022 |  | 2021
​ | ​ | (in millions)
Deposit account fee revenue | ​ | $ | 2.6 | ​ | $ | 2.2 | ​ | $ | 7.6 | ​ | $ | 6.7
Commission income | ​ | ​ | 0.4 | ​ | ​ | 0.2 | ​ | ​ | 0.9 | ​ | ​ | 0.5
Total revenues from contracts with customers | ​ | ​ | 3.0 | ​ | ​ | 2.4 | ​ | ​ | 8.5 | ​ | ​ | 7.2
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 0.9 | ​ | ​ | 2.1 | ​ | ​ | 2.1 | ​ | ​ | 6.8
Total fees and other revenues | ​ |  | 3.9 | ​ |  | 4.5 | ​ |  | 10.6 | ​ |  | 14.0
Premiums and other considerations | ​ |  | 607.3 | ​ |  | 482.1 | ​ |  | 1,197.6 | ​ |  | 1,111.9
Net investment income | ​ |  | 419.9 | ​ |  | 585.4 | ​ |  | 1,300.5 | ​ |  | 1,698.0
Total operating revenues | ​ | $ | 1,031.1 | ​ | $ | 1,072.0 | ​ | $ | 2,508.7 | ​ | $ | 2,823.9
​
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,
​ |  | 2022 |  | 2021 |  | 2022 |  | 2021
​ | ​ | (in millions)
Management fee revenue | ​ | $ | 351.7 | ​ | $ | 389.9 | ​ | $ | 1,095.2 | ​ | $ | 1,119.9
Other fee revenue | ​ |  | 44.1 | ​ |  | 63.6 | ​ |  | 181.8 | ​ |  | 183.7
Total revenues from contracts with customers | ​ |  | 395.8 | ​ |  | 453.5 | ​ |  | 1,277.0 | ​ |  | 1,303.6
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 6.4 | ​ | ​ | 11.0 | ​ | ​ | 20.6 | ​ | ​ | 27.1
Total fees and other revenues | ​ |  | 402.2 | ​ |  | 464.5 | ​ |  | 1,297.6 | ​ |  | 1,330.7
Net investment income | ​ |  | 3.8 | ​ |  | 0.7 | ​ |  | 7.3 | ​ |  | 3.4
Total operating revenues | ​ | $ | 406.0 | ​ | $ | 465.2 | ​ | $ | 1,304.9 | ​ | $ | 1,334.1
​
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,
​ |  | 2022 |  | 2021 |  | 2022 |  | 2021
​ | ​ | (in millions)
Management fee revenue | ​ | $ | 100.1 | ​ | $ | 123.0 | ​ | $ | 314.6 | ​ | $ | 367.8
Other fee revenue | ​ |  | 2.2 | ​ |  | 2.1 | ​ |  | 7.3 | ​ |  | 5.7
Total revenues from contracts with customers | ​ |  | 102.3 | ​ |  | 125.1 | ​ |  | 321.9 | ​ |  | 373.5
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 1.1 | ​ | ​ | 1.0 | ​ | ​ | 3.4 | ​ | ​ | 3.1
Total fees and other revenues | ​ |  | 103.4 | ​ |  | 126.1 | ​ |  | 325.3 | ​ |  | 376.6
Premiums and other considerations | ​ |  | 33.8 | ​ |  | 36.6 | ​ |  | 74.2 | ​ |  | 105.8
Net investment income | ​ |  | 239.7 | ​ |  | 165.4 | ​ |  | 731.4 | ​ |  | 459.9
Total operating revenues | ​ | $ | 376.9 | ​ | $ | 328.1 | ​ | $ | 1,130.9 | ​ | $ | 942.3
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revenues from contracts with customers by region: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Latin America | ​ | $ | 74.6 | ​ | $ | 91.5 | ​ | $ | 238.3 | ​ | $ | 273.3
Asia | ​ |  | 27.5 | ​ |  | 33.5 | ​ |  | 83.1 | ​ |  | 99.3
Principal International corporate / regional offices | ​ |  | 0.5 | ​ |  | 0.5 | ​ |  | 1.4 | ​ |  | 2.0
Eliminations | ​ |  | (0.3) | ​ |  | (0.4) | ​ |  | (0.9) | ​ |  | (1.1)
Total revenues from contracts with customers | ​ | $ | 102.3 | ​ | $ | 125.1 | ​ | $ | 321.9 | ​ | $ | 373.5
​
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,
​ |  | 2022 |  | 2021 |  | 2022 |  | 2021
​ | ​ | (in millions)
Specialty Benefits insurance: | ​ | ​ | ​ |  | ​ |  | ​ | ​ | ​ | ​ | ​ | ​
Administrative service fees | ​ | $ | 3.7 | ​ | $ | 3.9 | ​ | $ | 11.4 | ​ | $ | 11.4
Total revenues from contracts with customers | ​ | ​ | 3.7 | ​ |  | 3.9 | ​ | ​ | 11.4 | ​ |  | 11.4
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 4.8 | ​ | ​ | 5.4 | ​ | ​ | 14.0 | ​ | ​ | 14.9
Total fees and other revenues | ​ | ​ | 8.5 | ​ |  | 9.3 | ​ | ​ | 25.4 | ​ |  | 26.3
Premiums and other considerations | ​ | ​ | 704.0 | ​ |  | 629.6 | ​ | ​ | 2,056.4 | ​ |  | 1,851.7
Net investment income | ​ | ​ | 36.5 | ​ |  | 45.5 | ​ | ​ | 136.5 | ​ |  | 129.9
Total operating revenues | ​ | $ | 749.0 | ​ | $ | 684.4 | ​ | $ | 2,218.3 | ​ | $ | 2,007.9
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended | ​ | For the nine months ended
​ | ​ | September 30, | ​ | September 30,
​ |  | 2022 |  | 2021 |  | 2022 |  | 2021
​ | ​ | (in millions)
Individual Life insurance: | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | ​
Administrative service fees | ​ | $ | 7.0 | ​ | $ | 6.8 | ​ | $ | 20.9 | ​ | $ | 19.3
Commission income | ​ | ​ | 10.0 | ​ |  | 9.0 | ​ | ​ | 27.7 | ​ |  | 25.2
Total revenues from contracts with customers | ​ | ​ | 17.0 | ​ |  | 15.8 | ​ | ​ | 48.6 | ​ |  | 44.5
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 91.3 | ​ | ​ | 204.1 | ​ | ​ | 253.3 | ​ | ​ | 635.8
Total fees and other revenues | ​ | ​ | 108.3 | ​ |  | 219.9 | ​ | ​ | 301.9 | ​ |  | 680.3
Premiums and other considerations | ​ | ​ | 142.7 | ​ |  | 82.2 | ​ | ​ | 415.1 | ​ |  | 265.4
Net investment income | ​ | ​ | 93.0 | ​ |  | 203.6 | ​ | ​ | 307.6 | ​ |  | 593.4
Total operating revenues | ​ | $ | 344.0 | ​ | $ | 505.7 | ​ | $ | 1,024.6 | ​ | $ | 1,539.1
​
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,
​ |  | 2022 |  | 2021 |  | 2022 |  | ​ | 2021
​ | ​ | (in millions)
Commission income | ​ | $ | 89.5 | ​ | $ | 99.8 | ​ | $ | 280.1 | ​ | $ | 287.5
Other fee revenue | ​ |  | 20.4 | ​ |  | 17.3 | ​ | ​ | 59.1 | ​ | ​ | 51.0
Eliminations | ​ |  | (69.6) | ​ |  | (65.5) | ​ | ​ | (223.3) | ​ | ​ | (182.6)
Total revenues from contracts with customers | ​ |  | 40.3 | ​ |  | 51.6 | ​ | ​ | 115.9 | ​ | ​ | 155.9
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | (76.6) | ​ | ​ | (91.8) | ​ | ​ | (247.4) | ​ | ​ | (266.3)
Total fees and other revenues | ​ |  | (36.3) | ​ |  | (40.2) | ​ | ​ | (131.5) | ​ | ​ | (110.4)
Premiums and other considerations | ​ | ​ | (1.2) | ​ | ​ | — | ​ | ​ | (2.9) | ​ | ​ | —
Net investment income | ​ |  | 21.6 | ​ |  | 25.9 | ​ | ​ | 111.2 | ​ | ​ | 88.6
Total operating revenues | ​ | $ | (15.9) | ​ | $ | (14.3) | ​ | $ | (23.2) | ​ | $ | (21.8)
​

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