XML 118 R102.htm IDEA: XBRL DOCUMENT v3.24.0.1

Derivative Financial Instruments - Effect of Hedges on Consolidated Statements of Operations (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Gains (losses) recognized for hedging relationships
Net investment income (loss)		$ 4,091.9	$ 3,838.5	$ 4,429.6
Net realized capital gains (losses)	[1]	(72.2)	(182.1)	115.4
Benefits, claims and settlement expenses		7,788.2	6,631.3	7,258.2
Gains or losses on net investment hedges were reclassified from AOCI into net realized capitals gains (losses)		0.0	0.0	0.0
Fair Value Hedges | Net investment income
Gains (losses) recognized for hedging relationships
Total gain (loss) recognized for hedging relationships		62.5
Fair Value Hedges | Benefits, claims and settlement expenses
Gains (losses) recognized for hedging relationships
Total gain (loss) recognized for hedging relationships		(4.3)
Fair Value Hedges | Interest rate contracts | Net investment income
Gains (losses) recognized for hedging relationships
Gain (loss) recognized on hedged item		(43.9)	(154.4)	(28.7)
Gain (loss) recognized on derivatives		45.3	151.6	28.6
Amortization of hedged item basis adjustments			(1.3)	(1.8)
Amounts related to periodic settlements on derivatives		60.5	5.2	(10.0)
Total gain (loss) recognized for hedging relationships			1.1	(11.9)
Fair Value Hedges | Interest rate contracts | Benefits, claims and settlement expenses
Gains (losses) recognized for hedging relationships
Gain (loss) recognized on hedged item		(2.1)
Gain (loss) recognized on derivatives		0.4
Amounts related to periodic settlements on derivatives		(2.6)
Fair Value Hedges | Foreign exchange contracts | Net investment income
Gains (losses) recognized for hedging relationships
Amounts related to periodic settlements on derivatives		0.6
Fair Value Hedges | Foreign exchange contracts | Net realized capital gains (losses)
Gains (losses) recognized for hedging relationships
Gain (loss) recognized on hedged item		(3.7)
Gain (loss) recognized on derivatives		3.7
Cash Flow Hedges | Net investment income
Gains (losses) recognized for hedging relationships
Total gain (loss) recognized for hedging relationships		25.5	23.5	25.0
Cash Flow Hedges | Net realized capital gains (losses)
Gains (losses) recognized for hedging relationships
Total gain (loss) recognized for hedging relationships		3.4	19.1	10.2
Cash Flow Hedges | Benefits, claims and settlement expenses
Gains (losses) recognized for hedging relationships
Total gain (loss) recognized for hedging relationships		14.1	3.6	(0.5)
Cash Flow Hedges | Interest rate contracts | Gain (loss) reclassified from AOCI on derivatives
Gains (losses) recognized for hedging relationships
Net investment income (loss)		4.1	9.0	15.4
Benefits, claims and settlement expenses		(0.1)	(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		1.9	18.5	1.0
Cash Flow Hedges | Interest rate contracts | Benefits, claims and settlement expenses
Gains (losses) recognized for hedging relationships
Amounts related to periodic settlements on derivatives		14.2	3.7	(0.4)
Cash Flow Hedges | Foreign exchange contracts | Gain (loss) reclassified from AOCI on derivatives
Gains (losses) recognized for hedging relationships
Net realized capital gains (losses)		1.5	0.6	9.2
Cash Flow Hedges | Foreign exchange contracts | Net investment income
Gains (losses) recognized for hedging relationships
Amounts related to periodic settlements on derivatives		21.4	14.5	9.6
Net investment hedging relationships
Gains (losses) recognized for hedging relationships
Amount of gain (loss) recognized in AOCI on derivatives		(0.7)	1.5	2.9
Net investment hedging relationships | Foreign exchange contracts
Gains (losses) recognized for hedging relationships
Amount of gain (loss) recognized in AOCI on derivatives		$ (0.7)	$ 1.5	$ 2.9
[1] Includes realized and unrealized gains (losses). See Note 4, 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
-Topic 815
-SubTopic 25
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480238/815-25-50-1

+ 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
-Topic 815
-SubTopic 25
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480238/815-25-50-1

+ 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
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480627/815-20-45-1A

+ 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
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4A

+ 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
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480870/815-30-50-1

+ 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://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482740/230-10-45-28

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.7(c),9(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

+ 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/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-10

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(2)(d))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(4))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 5
-SubTopic 220
-Topic 946
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483581/946-220-45-5

+ 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
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4CCC
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4CCC

+ 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

- Definition

Amount, after tax, of reclassification from accumulated other comprehensive income (AOCI) of gain (loss) from increase (decrease) in fair value of net investment hedge.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4CCC
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4CCC

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 10A
-Subparagraph (b)
-SubTopic 10
-Topic 220
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-10A

+ Details

Name:	us-gaap_TranslationAdjustmentForNetInvestmentHedgeIncreaseDecreaseNetOfTax
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
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_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_DerivativeInstrumentRiskAxis=us-gaap_InterestRateContractMember
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_IncomeStatementLocationAxis=pfg_NetRealizedCapitalGainsLossesMember
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_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeAxis=us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
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: