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Debt (Tables)

12 Months Ended

Dec. 31, 2024

Debt

Short-Term Debt (Table)

​

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	December 31, 2024
​	​	Financing	​	​	​	​	​	​	Short-term debt
Obligor/Applicant		structure		Maturity		Capacity			outstanding
​	​	​	​	​	​	(in millions)
Principal Life		Credit facility		October 2027	​	$	800.0	​	$	—
Principal Compañía de Seguros de Vida					​		​	​		​
Chile S.A.	​	Unsecured lines of credit	​	​	​	​	77.0	​	​	31.1
Principal International de Chile S.A.		Unsecured lines of credit			​		21.8	​		2.6
​	​	Secured subscription	​	​	​	​	​	​	​	​
Principal Credit Real Estate Income Trust	​	facility	​	​	​	​	126.0	​	​	119.0
Total					​	$	1,024.8	​	$	152.7

​

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	December 31, 2023
​	​	Financing	​	​	​	​	​	​	Short-term debt
Obligor/Applicant		structure		Maturity		Capacity			outstanding
​	​	​	​	​	​	(in millions)
Principal Life		Credit facility		October 2027	​	$	800.0	​	$	—
Principal Compañía de Seguros de Vida	​	​	​	​	​	​	​	​	​	​
Chile S.A.	​	Unsecured lines of credit	​	​	​	​	97.3	​	​	58.4
Principal International de Chile S.A.		Unsecured lines of credit			​		33.6	​		0.2
Other short-term borrowings	​	Uncollateralized debt	​	​	​	​	2.5	​	​	2.5
Total	​	​	​	​	​	$	933.4	​	$	61.1

​

Long-Term Debt (Table)

​

​	​	​	​	​	​	​	​	​	​	​
​	​	December 31, 2024
​		Principal			Net unamortized discount, premium and debt issuance costs			Carrying amount
​	​	(in millions)
3.4% notes payable, due 2025	​	$	400.0	​	$	(0.2)	​	$	399.8	​
3.1% notes payable, due 2026	​	​	350.0	​	​	(0.7)	​		349.3	​
3.7% notes payable, due 2029	​	​	500.0	​	​	(3.1)	​	​	496.9	​
2.125% notes payable, due 2030	​	​	600.0	​	​	(2.8)	​	​	597.2	​
5.375% notes payable, due 2033	​	​	400.0	​	​	(3.5)	​	​	396.5	​
6.05% notes payable, due 2036	​	​	505.6	​	​	(2.0)	​		503.6	​
4.625% notes payable, due 2042	​	​	300.0	​	​	(2.7)	​		297.3	​
4.35% notes payable, due 2043	​	​	300.0	​	​	(2.8)	​		297.2	​
4.3% notes payable, due 2046	​	​	300.0	​	​	(2.9)	​	​	297.1	​
5.5% notes payable, due 2053	​	​	300.0	​	​	(4.3)	​	​	295.7	​
Secured credit facilities	​	​	21.8	​	​	—	​	​	21.8	​
Non-recourse mortgages and notes payable	​	​	3.0	​		(0.1)	​		2.9	​
Total long-term debt	​	$	3,980.4	​	$	(25.1)	​	$	3,955.3	​

​

​	​	​	​	​	​	​	​	​	​	​
​	​	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	​

Future Annual Maturities of Long-Term Debt (Table)

As of December 31, 2024, future annual maturities of long-term debt were as follows (in millions):

​

​	​	​	​	​
Year ending December 31:		​
2025	​	$	421.6	​
2026	​	​	349.3	​
2027	​	​	0.1	​
2028	​	​	2.8	​
2029	​	​	496.9	​
Thereafter	​	​	2,684.6	​
Total future maturities of long-term debt	​	$	3,955.3	​

​

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