XML 120 R109.htm IDEA: XBRL DOCUMENT
v3.23.1

Market Risk Benefits - Net Asset (Liability) Balances and Changes in Valuation of the MRBs for Individual Variable Annuities (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended |
--- | --- | --- | ---
Mar. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020
The net asset (liability) balances and the changes in the valuation of the MRBs |  |  |  |
Balance at beginning of period | $ (98.2) |  |  |
Balance at end of period | (87.1) | $ (98.2) |  |
Net amount at risk |  |  |  | $ 644.6
Retirement and Income Solutions | Individual variable annuities |  |  |  |
The net asset (liability) balances and the changes in the valuation of the MRBs |  |  |  |
Balance at beginning of period | (72.2) | (494.7) | $ (591.3) |
Effect of changes in nonperformance risk at beginning of period | (31.7) | 109.5 | 106.7 |
Adjusted balance at beginning of period | (103.9) | (385.2) | (484.6) |
Interest accrual and expected policyholder behavior | (19.8) | (90.1) | (120.7) |
Benefit payments | 0.2 | 1.3 | 0.4 |
Changes in interest rates | (54.2) | 539.1 | 154.3 |
Changes in equity markets | 46.4 | (112.4) | 106.4 |
Changes in equity index volatility | 30.6 | (50.2) | 15.1 |
Actual policyholder behavior different from expected behavior | (2.0) | 1.5 | 2.3 |
Changes in future expected policyholder behavior | 0.0 | (6.1) | (96.6) |
Changes in other future expected assumptions | 0.0 | (1.8) | 38.2 |
Adjusted balance at end of period | (102.7) | (103.9) | (385.2) |
Effect of changes in nonperformance risk at end of period | (39.6) | (31.7) | 109.5 |
Balance at end of period | $ (63.1) | $ (72.2) | $ (494.7) |
Weighted-average attained age of policyholders (years) | 67 years 6 months | 67 years 4 months 24 days |  |
Net amount at risk | $ 299.8 | $ 415.5 |  | $ 591.3

X
- Definition Weighted average attained age of policyholders or contract holders in market risk benefit in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. + References No definition available. + Details
Name: | pfg_MarketRiskBenefitWeightedAverageAttainedAge
Namespace Prefix: | pfg_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount, before tax, of accumulated other comprehensive income (loss) (AOCI) from (increase) decrease in instrument-specific credit risk on contract or contract feature in long-duration contract issued by insurance entity protecting contract holder from other-than-nominal capital market risk and exposing insurance entity to other-than-nominal capital market risk. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 55 -Paragraph 29G -URI https://asc.fasb.org/extlink&oid=126561865&loc=SL117819547-158441 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 7B -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=124506351&loc=SL117782768-158439 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 55 -Paragraph 13K -Subparagraph (k) -URI https://asc.fasb.org/extlink&oid=126561865&loc=SL117783743-158441 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 65 -Paragraph 2 -Subparagraph (h)(1) -URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641 + Details
Name: | us-gaap_AociMarketRiskBenefitInstrumentSpecificCreditRiskBeforeTax
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount, before effect of reinsurance and after accumulated increase (decrease) in instrument-specific credit risk, of contract or contract feature in long-duration contract issued by insurance entity that both protects contract holder from other-than-nominal capital market risk and exposes insurance entity to other-than-nominal capital market risk. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 65 -Paragraph 2 -Subparagraph (h)(1) -URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 55 -Paragraph 29G -URI https://asc.fasb.org/extlink&oid=126561865&loc=SL117819547-158441 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 7B -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=124506351&loc=SL117782768-158439 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 45 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=124509262&loc=SL117780254-158436 + Details
Name: | us-gaap_MarketRiskBenefitAfterIncreaseDecreaseFromInstrumentSpecificCreditRisk
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount, before effect of reinsurance and cumulative increase (decrease) in instrument-specific credit risk, of contract or contract feature in long-duration contract issued by insurance entity that both protects contract holder from other-than-nominal capital market risk and exposes insurance entity to other-than-nominal capital market risk. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 55 -Paragraph 29G -URI https://asc.fasb.org/extlink&oid=126561865&loc=SL117819547-158441 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 7B -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=124506351&loc=SL117782768-158439 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 65 -Paragraph 2 -Subparagraph (h)(1) -URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641 + Details
Name: | us-gaap_MarketRiskBenefitBeforeReinsuranceAndCumulativeIncreaseDecreaseFromInstrumentSpecificCreditRiskChange
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount of cash outflow to policyholder from benefit payment for contract or contract feature in long-duration contract issued by insurance entity that both protects contract holder from other-than-nominal capital market risk and exposes insurance entity to other-than-nominal capital market risk. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 7B -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=124506351&loc=SL117782768-158439 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 65 -Paragraph 2 -Subparagraph (h)(1) -URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 55 -Paragraph 29G -URI https://asc.fasb.org/extlink&oid=126561865&loc=SL117819547-158441 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 55 -Paragraph 13K -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126561865&loc=SL117783743-158441 + Details
Name: | us-gaap_MarketRiskBenefitBenefitPayment
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of increase (decrease) in contract or contract feature in long-duration contract issued by insurance entity that both protects contract holder from other-than-nominal capital market risk and exposes insurance entity to other-than-nominal capital market risk from change associated with actual policyholder behavior different from expected. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 7B -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=124506351&loc=SL117782768-158439 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 65 -Paragraph 2 -Subparagraph (h)(1) -URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 55 -Paragraph 29G -URI https://asc.fasb.org/extlink&oid=126561865&loc=SL117819547-158441 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 55 -Paragraph 13K -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=126561865&loc=SL117783743-158441 + Details
Name: | us-gaap_MarketRiskBenefitIncreaseDecreaseFromActualPolicyholderBehaviorDifferentFromExpected
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of increase (decrease) in contract or contract feature in long-duration contract issued by insurance entity that both protects contract holder from other-than-nominal capital market risk and exposes insurance entity to other-than-nominal capital market risk from change in equity market assumption. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 7B -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=124506351&loc=SL117782768-158439 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 65 -Paragraph 2 -Subparagraph (h)(1) -URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 55 -Paragraph 29G -URI https://asc.fasb.org/extlink&oid=126561865&loc=SL117819547-158441 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 55 -Paragraph 13K -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126561865&loc=SL117783743-158441 + Details
Name: | us-gaap_MarketRiskBenefitIncreaseDecreaseFromEquityMarketChange
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of increase (decrease) in contract or contract feature in long-duration contract issued by insurance entity that both protects contract holder from other-than-nominal capital market risk and exposes insurance entity to other-than-nominal capital market risk from change in future expected policyholder behavior assumption. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 7B -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=124506351&loc=SL117782768-158439 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 65 -Paragraph 2 -Subparagraph (h)(1) -URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 55 -Paragraph 29G -URI https://asc.fasb.org/extlink&oid=126561865&loc=SL117819547-158441 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 55 -Paragraph 13K -Subparagraph (i) -URI https://asc.fasb.org/extlink&oid=126561865&loc=SL117783743-158441 + Details
Name: | us-gaap_MarketRiskBenefitIncreaseDecreaseFromFutureExpectedPolicyholderBehaviorAssumption
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of increase (decrease) in contract or contract feature in long-duration contract issued by insurance entity that both protects contract holder from other-than-nominal capital market risk and exposes insurance entity to other-than-nominal capital market risk from change in interest rate. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 55 -Paragraph 13K -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126561865&loc=SL117783743-158441 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 7B -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=124506351&loc=SL117782768-158439 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 65 -Paragraph 2 -Subparagraph (h)(1) -URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 55 -Paragraph 29G -URI https://asc.fasb.org/extlink&oid=126561865&loc=SL117819547-158441 + Details
Name: | us-gaap_MarketRiskBenefitIncreaseDecreaseFromInterestRateChange
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of increase (decrease) in contract or contract feature in long-duration contract issued by insurance entity that both protects contract holder from other-than-nominal capital market risk and exposes insurance entity to other-than-nominal capital market risk from change in assumption, classified as other. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 55 -Paragraph 13K -Subparagraph (j) -URI https://asc.fasb.org/extlink&oid=126561865&loc=SL117783743-158441 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 7B -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=124506351&loc=SL117782768-158439 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 65 -Paragraph 2 -Subparagraph (h)(1) -URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 55 -Paragraph 29G -URI https://asc.fasb.org/extlink&oid=126561865&loc=SL117819547-158441 + Details
Name: | us-gaap_MarketRiskBenefitIncreaseDecreaseFromOtherAssumption
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of increase (decrease) in contract or contract feature in long-duration contract issued by insurance entity that both protects contract holder from other-than-nominal capital market risk and exposes insurance entity to other-than-nominal capital market risk from change in market volatility assumption. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 65 -Paragraph 2 -Subparagraph (h)(1) -URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 55 -Paragraph 29G -URI https://asc.fasb.org/extlink&oid=126561865&loc=SL117819547-158441 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 55 -Paragraph 13K -Subparagraph (g) -URI https://asc.fasb.org/extlink&oid=126561865&loc=SL117783743-158441 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 7B -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=124506351&loc=SL117782768-158439 + Details
Name: | us-gaap_MarketRiskBenefitIncreaseDecreaseFromVolatility
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of interest expense for contract or contract feature in long-duration contract issued by insurance entity that both protects contract holder from other-than-nominal capital market risk and exposes insurance entity to other-than-nominal capital market risk. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 55 -Paragraph 13K -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126561865&loc=SL117783743-158441 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 7B -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=124506351&loc=SL117782768-158439 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 65 -Paragraph 2 -Subparagraph (h)(1) -URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 55 -Paragraph 29G -URI https://asc.fasb.org/extlink&oid=126561865&loc=SL117819547-158441 + Details
Name: | us-gaap_MarketRiskBenefitInterestExpense
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of guaranteed benefit in excess of current account balance of contract or contract feature in long-duration contract issued by insurance entity that both protects contract holder from other-than-nominal capital market risk and exposes insurance entity to other-than-nominal capital market risk. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 7B -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=124506351&loc=SL117782768-158439 + Details
Name: | us-gaap_MarketRiskBenefitNetAmountAtRisk
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. + References No definition available. + Details
Name: | us-gaap_MarketRiskBenefitRollForward
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
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: | srt_ProductOrServiceAxis=us-gaap_VariableAnnuityMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |