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v3.23.1

Revenues from Contracts with Customers (Tables) | 3 Months Ended
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Mar. 31, 2023
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended
​ | ​ | March 31,
​ |  | 2023 |  | 2022
​ | ​ | (in millions)
Revenue from contracts with customers by segment: | ​ | ​ | ​ | ​ | ​ | ​
Retirement and Income Solutions | ​ | $ | 130.2 |  | $ | 144.4
Principal Asset Management: | ​ | ​ | ​ | ​ | ​ | ​
Principal Global Investors | ​ |  | 381.3 | ​ |  | 429.6
Principal International | ​ |  | 113.2 | ​ |  | 110.4
Eliminations | ​ | ​ | (5.3) | ​ | ​ | (6.6)
Total Principal Asset Management | ​ | ​ | 489.2 | ​ | ​ | 533.4
Benefits and Protection: | ​ |  | ​ | ​ |  | ​
Specialty Benefits | ​ |  | 3.9 | ​ |  | 4.0
Life Insurance | ​ |  | 16.7 | ​ |  | 15.4
Total Benefits and Protection | ​ | ​ | 20.6 | ​ | ​ | 19.4
Corporate | ​ |  | 45.1 | ​ |  | 53.0
Total segment revenue from contracts with customers | ​ |  | 685.1 | ​ |  | 750.2
Adjustments for fees and other revenues not within the scope of revenue recognition guidance (1) | ​ |  | 290.4 | ​ |  | 449.0
Pre-tax other adjustments (2) | ​ |  | 19.8 | ​ |  | 20.0
Total fees and other revenues per consolidated statements of operations | ​ | $ | 995.3 | ​ | $ | 1,219.2
(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, certain variable annuity fees and market value adjustments to fee revenues.
Retirement and Income Solutions |
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended
​ | ​ | March 31,
​ |  | 2023 |  | 2022
​ | ​ | (in millions)
Administrative service fee revenue | ​ | $ | 126.5 | ​ | $ | 141.5
Deposit account fee revenue | ​ | ​ | 2.9 | ​ | ​ | 2.5
Commission income | ​ | ​ | 0.4 | ​ | ​ | 0.2
Other fee revenue | ​ | ​ | 0.4 | ​ | ​ | 0.2
Total revenues from contracts with customers | ​ | ​ | 130.2 | ​ | ​ | 144.4
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 278.3 | ​ | ​ | 299.4
Total fees and other revenues | ​ |  | 408.5 | ​ |  | 443.8
Premiums and other considerations | ​ |  | 582.7 | ​ |  | 123.3
Net investment income | ​ |  | 624.9 | ​ |  | 695.9
Total operating revenues | ​ | $ | 1,616.1 | ​ | $ | 1,263.0
​
Principal Asset Management | Principal International |
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended
​ | ​ | March 31,
​ |  | 2023 |  | 2022
​ | ​ | (in millions)
Principal International: | ​ | ​ | ​ | ​ | ​ | ​
Management fee revenue | ​ | $ | 110.9 | ​ | $ | 107.7
Other fee revenue | ​ |  | 2.3 | ​ |  | 2.7
Total revenues from contracts with customers | ​ |  | 113.2 | ​ |  | 110.4
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 1.4 | ​ | ​ | 1.2
Total fees and other revenues | ​ |  | 114.6 | ​ |  | 111.6
Premiums and other considerations | ​ |  | 6.4 | ​ |  | 10.3
Net investment income | ​ |  | 184.1 | ​ |  | 205.3
Total operating revenues | ​ | $ | 305.1 | ​ | $ | 327.2
​ | ​ | ​ | ​ | ​ | ​ | ​
Revenues from contracts with customers by region: | ​ |  | ​ | ​ |  | ​
Latin America | ​ | $ | 85.9 | ​ | $ | 82.1
Asia | ​ |  | 27.5 | ​ |  | 28.5
Eliminations | ​ |  | (0.2) | ​ |  | (0.2)
Total revenues from contracts with customers | ​ | $ | 113.2 | ​ | $ | 110.4
​
Principal Asset Management | Principal Global Investors |
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended
​ | ​ | March 31,
​ |  | 2023 |  | 2022
​ | ​ | (in millions)
Principal Global Investors: | ​ | ​ | ​ | ​ | ​ | ​
Management fee revenue | ​ | $ | 339.7 | ​ | $ | 379.0
Other fee revenue | ​ |  | 41.6 | ​ |  | 50.6
Total revenues from contracts with customers | ​ |  | 381.3 | ​ |  | 429.6
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 4.6 | ​ | ​ | 5.3
Total fees and other revenues | ​ |  | 385.9 | ​ |  | 434.9
Net investment income | ​ |  | 6.8 | ​ |  | 0.4
Total operating revenues | ​ | $ | 392.7 | ​ | $ | 435.3
Benefits and Protection | Specialty Benefits |
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended
​ | ​ | March 31,
​ |  | 2023 |  | 2022
​ | ​ | (in millions)
Specialty Benefits: | ​ | ​ | ​ |  | ​ |
Administrative service fees | ​ | $ | 3.9 | ​ | $ | 4.0
Total revenues from contracts with customers | ​ | ​ | 3.9 | ​ |  | 4.0
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 4.6 | ​ | ​ | 4.7
Total fees and other revenues | ​ | ​ | 8.5 | ​ |  | 8.7
Premiums and other considerations | ​ | ​ | 733.6 | ​ |  | 665.6
Net investment income | ​ | ​ | 40.1 | ​ |  | 43.4
Total operating revenues | ​ | $ | 782.2 | ​ | $ | 717.7
Benefits and Protection | Life Insurance |
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended
​ | ​ | March 31,
​ |  | 2023 |  | 2022
​ | ​ | (in millions)
Life Insurance: | ​ | ​ | ​ | ​ |  | ​
Administrative service fees | ​ | $ | 7.2 | ​ | $ | 6.8
Commission income | ​ | ​ | 9.5 | ​ |  | 8.6
Total revenues from contracts with customers | ​ | ​ | 16.7 | ​ |  | 15.4
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 77.3 | ​ | ​ | 228.3
Total fees and other revenues | ​ | ​ | 94.0 | ​ |  | 243.7
Premiums and other considerations | ​ | ​ | 130.8 | ​ |  | 88.8
Net investment income | ​ | ​ | 96.6 | ​ |  | 193.2
Total operating revenues | ​ | $ | 321.4 | ​ | $ | 525.7
​
Corporate |
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended
​ | ​ | March 31,
​ |  | 2023 |  | 2022
​ | ​ | (in millions)
Commission income | ​ | $ | 87.9 | ​ | $ | 97.2
Other fee revenue | ​ |  | 20.5 | ​ |  | 19.8
Eliminations | ​ |  | (63.3) | ​ |  | (64.0)
Total revenues from contracts with customers | ​ |  | 45.1 | ​ |  | 53.0
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | (75.6) | ​ | ​ | (89.7)
Total fees and other revenues | ​ |  | (30.5) | ​ |  | (36.7)
Premiums and other considerations | ​ | ​ | (1.3) | ​ | ​ | (0.5)
Net investment income | ​ |  | 59.4 | ​ |  | 43.5
Total operating revenues | ​ | $ | 27.6 | ​ | $ | 6.3
​

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