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Debt (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Debt |
Short-Term Debt (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | December 31, 2023
​ | ​ | Financing | ​ | ​ | ​ | ​ | ​ | ​ | Short-term debt
Obligor/Applicant |  | structure |  | Maturity |  | Capacity |  | outstanding
​ | ​ | ​ | ​ | ​ | ​ | (in millions)
Principal Life |  | Credit facility |  | October 2027 | ​ | $ | 800.0 | ​ | $ | —
​ | ​ | Unsecured | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Principal International Chile (1) |  | lines of credit |  |  | ​ |  | 130.9 | ​ |  | 58.6
Other short-term borrowings | ​ | Uncollateralized debt | ​ | ​ | ​ | ​ | 2.5 | ​ | ​ | 2.5
Total |  |  |  |  | ​ | $ | 933.4 | ​ | $ | 61.1
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | December 31, 2022
​ | ​ | Financing | ​ | ​ | ​ | ​ | ​ | ​ | Short-term debt
Obligor/Applicant |  | structure |  | Maturity |  | Capacity |  | outstanding
​ | ​ | ​ | ​ | ​ | ​ | (in millions)
Principal Life |  | Credit facility |  | October 2027 | ​ | $ | 800.0 | ​ | $ | —
​ | ​ | Unsecured | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Principal International Chile (1) |  | lines of credit |  |  | ​ |  | 136.9 | ​ |  | 80.7
Total | ​ | ​ | ​ | ​ | ​ | $ | 936.9 | ​ | $ | 80.7
(1) | The unsecured lines of credit can be used for repurchase agreements or other borrowings. Each line has a maturity of less than one year.
Long-Term Debt (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2023 |
​ |  | Principal |  | Net unamortized discount, premium and debt issuance costs |  | Carrying amount |
​ | ​ | (in millions) |
3.4% notes payable, due 2025 | ​ | $ | 400.0 | ​ | $ | (0.7) | ​ | $ | 399.3 | ​
3.1% notes payable, due 2026 | ​ | ​ | 350.0 | ​ | ​ | (1.1) | ​ |  | 348.9 | ​
3.7% notes payable, due 2029 | ​ | ​ | 500.0 | ​ | ​ | (3.8) | ​ | ​ | 496.2 | ​
2.125% notes payable, due 2030 | ​ | ​ | 600.0 | ​ | ​ | (3.2) | ​ | ​ | 596.8 | ​
5.375% notes payable, due 2033 | ​ | ​ | 400.0 | ​ | ​ | (3.8) | ​ | ​ | 396.2 | ​
6.05% notes payable, due 2036 | ​ | ​ | 505.6 | ​ | ​ | (2.1) | ​ |  | 503.5 | ​
4.625% notes payable, due 2042 | ​ | ​ | 300.0 | ​ | ​ | (2.8) | ​ |  | 297.2 | ​
4.35% notes payable, due 2043 | ​ | ​ | 300.0 | ​ | ​ | (2.9) | ​ |  | 297.1 | ​
4.3% notes payable, due 2046 | ​ | ​ | 300.0 | ​ | ​ | (3.0) | ​ | ​ | 297.0 | ​
5.5% notes payable, due 2053 | ​ | ​ | 300.0 | ​ | ​ | (4.3) | ​ | ​ | 295.7 | ​
Non-recourse mortgages and notes payable | ​ | ​ | 3.1 | ​ |  | (0.1) | ​ |  | 3.0 | ​
Total long-term debt | ​ | $ | 3,958.7 | ​ | $ | (27.8) | ​ | $ | 3,930.9 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022 | ​
​ |  | Principal |  | Net unamortized discount, premium and debt issuance costs |  | Carrying amount |
​ | ​ | (in millions) | ​
3.125% notes payable, due 2023 | ​ | $ | 300.0 | ​ | $ | (0.1) | ​ | $ | 299.9 | ​
3.4% notes payable, due 2025 | ​ | ​ | 400.0 | ​ | ​ | (1.2) | ​ |  | 398.8 | ​
3.1% notes payable, due 2026 | ​ | ​ | 350.0 | ​ | ​ | (1.4) | ​ | ​ | 348.6 | ​
3.7% notes payable, due 2029 | ​ | ​ | 500.0 | ​ | ​ | (4.3) | ​ | ​ | 495.7 | ​
2.125% notes payable, due 2030 | ​ | ​ | 600.0 | ​ | ​ | (3.6) | ​ | ​ | 596.4 | ​
6.05% notes payable, due 2036 | ​ | ​ | 505.6 | ​ | ​ | (2.3) | ​ |  | 503.3 | ​
4.625% notes payable, due 2042 | ​ | ​ | 300.0 | ​ | ​ | (2.9) | ​ |  | 297.1 | ​
4.35% notes payable, due 2043 | ​ | ​ | 300.0 | ​ | ​ | (3.0) | ​ |  | 297.0 | ​
4.3% notes payable, due 2046 | ​ | ​ | 300.0 | ​ | ​ | (3.1) | ​ | ​ | 296.9 | ​
Floating rate notes payable, due 2055 | ​ | ​ | 400.0 | ​ | ​ | (4.5) | ​ |  | 395.5 | ​
Non-recourse mortgages and notes payable | ​ |  | 67.1 | ​ |  | 0.7 | ​ |  | 67.8 | ​
Total long-term debt | ​ | $ | 4,022.7 | ​ | $ | (25.7) | ​ | $ | 3,997.0 | ​
Future Annual Maturities of Long-Term Debt (Table) | As of December 31, 2023, future annual maturities of long-term debt were as follows (in millions): ​
​ | ​ | ​ | ​ | ​
Year ending December 31: |  | ​ |  |
2024 | ​ | $ | 0.1 | ​
2025 | ​ | ​ | 399.3 | ​
2026 | ​ | ​ | 349.9 | ​
2027 | ​ | ​ | 1.0 | ​
2028 | ​ | ​ | 1.0 | ​
Thereafter | ​ | ​ | 3,179.6 | ​
Total future maturities of long-term debt | ​ | $ | 3,930.9 | ​
​

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