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Consolidated Statements of Financial Position - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Assets    
Fixed maturities, available-for-sale [1] $ 68,251.0 $ 65,673.1
Fixed maturities, trading (2024 and 2023 include $205.9 million and $81.2 million related to consolidated variable interest entities) 1,023.3 836.2
Equity securities (2024 and 2023 include $367.9 million and $394.4 million related to consolidated variable interest entities) 2,295.0 1,478.1
Mortgage loans (2024 and 2023 include $944.5 million and $871.9 million related to consolidated variable interest entities and $140.6 million and $0.0 million measured at fair value under the fair value option) 20,484.2 20,142.8
Real estate (2024 and 2023 include $781.8 million and $779.1 million related to consolidated variable interest entities) 2,464.5 2,345.3
Policy loans 867.5 809.3
Other investments (2024 and 2023 include $625.6 million and $596.4 million related to consolidated variable interest entities and $129.0 million and $163.2 million measured at fair value under the fair value option) 7,990.3 7,035.6
Total investments 103,375.8 98,320.4
Cash and cash equivalents (2024 and 2023 include $86.1 million and $83.6 million related to consolidated variable interest entities) 4,211.9 4,707.7
Accrued investment income 828.6 786.2
Reinsurance recoverable and deposit receivable 19,490.1 20,611.7
Premiums due and other receivables 3,771.5 3,998.8
Deferred acquisition costs 4,006.9 3,950.5
Market risk benefit asset 199.5 153.4
Property and equipment 769.4 938.4
Goodwill 1,549.7 1,608.5
Other intangibles 1,389.9 1,469.8
Separate account assets (2024 and 2023 include $32,802.2 million and $34,688.3 million related to consolidated variable interest entities) 173,327.1 167,605.6
Other assets 743.2 895.7
Total assets 313,663.6 305,046.7
Liabilities    
Contractholder funds 43,099.6 41,501.1
Future policy benefits and claims 48,179.4 46,826.5
Market risk benefit liability 62.1 133.2
Other policyholder funds 966.4 916.8
Short-term debt (2024 and 2023 include $119.0 million and $2.5 million related to consolidated variable interest entities) 152.7 61.1
Long-term debt 3,955.3 3,930.9
Income taxes currently payable 8.6 11.9
Deferred income taxes 1,706.0 1,613.3
Separate account liabilities (2024 and 2023 include $32,802.2 million and $34,688.3 million related to consolidated variable interest entities) 173,327.1 167,605.6
Funds withheld payable 18,103.7 19,629.5
Other liabilities (2024 and 2023 include $108.8 million and $87.7 million related to consolidated variable interest entities) 12,633.7 11,606.2
Total liabilities 302,194.6 293,836.1
Redeemable noncontrolling interest (2024 and 2023 include $309.9 million and $226.4 million related to consolidated variable interest entities) 337.7 248.9
Stockholders' equity    
Common stock, par value $0.01 per share; 2,500,000,000 shares authorized; 494,734,908 and 492,279,405 shares issued as of 2024 and 2023; 226,225,161 and 236,438,294 shares outstanding as of 2024 and 2023 4.9 4.9
Additional paid-in capital 11,100.9 10,908.6
Retained earnings (accumulated deficit) 17,583.5 16,683.5
Accumulated other comprehensive income (loss) (5,224.8) (5,345.3)
Treasury stock, at cost; 268,509,747 and 255,841,111 shares as of 2024 and 2023 (12,378.1) (11,335.7)
Total stockholders' equity attributable to Principal Financial Group, Inc. 11,086.4 10,916.0
Noncontrolling interest 44.9 45.7
Total stockholders' equity 11,131.3 10,961.7
Total liabilities and stockholders' equity $ 313,663.6 $ 305,046.7
[1] See Note 4, Investments, for further details relating to the amortized cost of fixed maturities, available-for-sale.