XML 74 R63.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Derivative Financial Instruments - Effect of Hedges on Consolidated Statements of Operations (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021
Gains (losses) recognized for hedging relationships |  |  |  |  |
Net investment income (loss) |  | $ 908.2 | $ 1,093.4 | $ 2,842.8 | $ 3,167.0
Net realized capital gains (losses) | [1] | (55.7) | (152.0) | (394.1) | (41.7)
Benefits, claims and settlement expenses |  | 1,734.8 | 1,770.9 | 4,473.3 | 4,958.4
Fair Value Hedges | Interest rate contracts | Net investment income |  |  |  |  |
Gains (losses) recognized for hedging relationships |  |  |  |  |
Gain (loss) recognized on hedged item |  | (58.2) | (4.0) | (164.6) | (20.5)
Gain (loss) recognized on derivatives |  | 57.7 | 5.4 | 160.7 | 22.2
Amortization of hedged item basis adjustments |  | (0.3) | (0.5) | (1.0) | (1.5)
Amounts related to periodic settlements on derivatives |  | 2.9 | (2.4) | (4.0) | (6.8)
Total gain (loss) recognized for hedging relationships |  | 2.1 | (1.5) | (8.9) | (6.6)
Fair Value Hedges | Interest rate contracts | Benefits, claims and settlement expenses |  |  |  |  |
Gains (losses) recognized for hedging relationships |  |  |  |  |
Amounts related to periodic settlements on derivatives |  |  | (0.1) |  | (0.1)
Total gain (loss) recognized for hedging relationships |  |  | (0.1) |  | (0.1)
Cash Flow Hedges | Net investment income |  |  |  |  |
Gains (losses) recognized for hedging relationships |  |  |  |  |
Total gain (loss) recognized for hedging relationships |  | 5.4 | 6.4 | 17.1 | 18.9
Cash Flow Hedges | Net realized capital gains (losses) |  |  |  |  |
Gains (losses) recognized for hedging relationships |  |  |  |  |
Total gain (loss) recognized for hedging relationships |  | 2.7 | 0.1 | 14.2 | 1.2
Cash Flow Hedges | Benefits, claims and settlement expenses |  |  |  |  |
Gains (losses) recognized for hedging relationships |  |  |  |  |
Total gain (loss) recognized for hedging relationships |  | 1.3 |  | 1.2 | (0.1)
Cash Flow Hedges | Interest rate contracts | Gain (loss) reclassified from AOCI on derivatives |  |  |  |  |
Gains (losses) recognized for hedging relationships |  |  |  |  |
Net investment income (loss) |  | 1.7 | 3.8 | 7.7 | 11.9
Benefits, claims and settlement expenses |  |  |  | (0.1) | (0.1)
Cash Flow Hedges | Interest rate contracts | Net realized capital gains (losses) |  |  |  |  |
Gains (losses) recognized for hedging relationships |  |  |  |  |
Gain (loss) reclassified from AOCI into net income as a result that a forecasted transaction is no longer probable of occurring |  | 2.7 | 0.1 | 13.5 | 0.5
Cash Flow Hedges | Interest rate contracts | Benefits, claims and settlement expenses |  |  |  |  |
Gains (losses) recognized for hedging relationships |  |  |  |  |
Amounts related to periodic settlements on derivatives |  | 1.3 |  | 1.3 |
Cash Flow Hedges | Foreign exchange contracts | Gain (loss) reclassified from AOCI on derivatives |  |  |  |  |
Gains (losses) recognized for hedging relationships |  |  |  |  |
Net realized capital gains (losses) |  |  |  | 0.7 | 0.7
Cash Flow Hedges | Foreign exchange contracts | Net investment income |  |  |  |  |
Gains (losses) recognized for hedging relationships |  |  |  |  |
Amounts related to periodic settlements on derivatives |  | 3.7 | 2.6 | 9.4 | 7.0
Net investment hedging relationships |  |  |  |  |
Gains (losses) recognized for hedging relationships |  |  |  |  |
Amount of gain (loss) recognized in accumulated OCI on derivatives |  | 2.0 | 1.3 | 3.6 | 2.3
Net investment hedging relationships | Foreign exchange contracts |  |  |  |  |
Gains (losses) recognized for hedging relationships |  |  |  |  |
Amount of gain (loss) recognized in accumulated OCI on derivatives |  | $ 2.0 | $ 1.3 | $ 3.6 | $ 2.3
[1] | Includes realized and unrealized gains (losses). See Note 3, Investments, for further details.

X
- Definition Amount of periodic settlements on derivatives recognized in statement of operations. + References No definition available. + Details
Name: | pfg_PeriodicSettlementOnDerivatives
Namespace Prefix: | pfg_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount, after effects of policies assumed or ceded, of expense related to the provision for policy benefits and costs incurred. + References No definition available. + Details
Name: | pfg_PolicyHolderBenefitsAndClaimIncurredNet
Namespace Prefix: | pfg_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of gain (loss) from the increase (decrease) in fair value of derivative and nonderivative instruments designated as fair value hedging instruments recognized in the income statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 25 -Section 50 -Paragraph 1 -Subparagraph (a)(1) -URI https://asc.fasb.org/extlink&oid=121577467&loc=d3e76258-113986 + Details
Name: | us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of the increase (decrease) in fair value of the hedged item in a fair value hedge recognized in the income statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 25 -Section 50 -Paragraph 1 -Subparagraph (a)(1) -URI https://asc.fasb.org/extlink&oid=121577467&loc=d3e76258-113986 + Details
Name: | us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of gain (loss) on derivative instrument designated and qualifying as fair value hedge included in assessment of hedge effectiveness, recognized in earnings. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 20 -Section 45 -Paragraph 1A -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=121577181&loc=SL110061172-113977 + Details
Name: | us-gaap_DerivativeFairValueHedgeIncludedInEffectivenessGainLoss
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Aggregate net gain (loss) on all derivative instruments recognized in earnings during the period, before tax effects. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 + Details
Name: | us-gaap_GainLossOnDerivativeInstrumentsNetPretax
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition The amount of net gain (loss) reclassified into earnings in the period when cash flow hedge is discontinued because it is probable that the original forecasted transactions will not occur by the end of the original period or an additional two month time period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=121549185&loc=d3e80748-113994 + Details
Name: | us-gaap_GainLossOnDiscontinuationOfCashFlowHedgeDueToForecastedTransactionProbableOfNotOccurringNet
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of realized and unrealized gain (loss) on investment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126970911&loc=d3e27405-111563 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.7(c),9(a)) -URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3602-108585 + Details
Name: | us-gaap_GainLossOnInvestments
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount, after investment expense, of income earned from investments in securities and real estate. Includes, but is not limited to, real estate investment, policy loans, dividends, and interest. Excludes realized gain (loss) on investments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(2)) -URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263 + Details
Name: | us-gaap_NetInvestmentIncome
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount, before tax and reclassification, of gain (loss) from derivative designated and qualifying as net investment hedge. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4CCC -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL109998896-113959 + Details
Name: | us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossBeforeReclassificationAndTax
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SummaryOfDerivativeInstrumentsImpactOnResultsOfOperationsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis=us-gaap_FairValueHedgingMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DerivativeInstrumentRiskAxis=us-gaap_InterestRateContractMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_IncomeStatementLocationAxis=pfg_NetInvestmentIncomeLossMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_IncomeStatementLocationAxis=pfg_BenefitsClaimsAndSettlementExpensesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis=us-gaap_CashFlowHedgingMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_IncomeStatementLocationAxis=pfg_NetRealizedCapitalGainsLossesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeAxis=us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DerivativeInstrumentRiskAxis=us-gaap_ForeignExchangeContractMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis=us-gaap_NetInvestmentHedgingMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |