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v3.25.1

Revenues from Contracts with Customers (Tables) | 3 Months Ended
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Mar. 31, 2025
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended March 31,
​ |  | 2025 |  | 2024
​ | ​ | (in millions)
Revenue from contracts with customers by segment: | ​ | ​ | ​ | ​ | ​ | ​
Retirement and Income Solutions | ​ | $ | 145.7 |  | $ | 159.3
Principal Asset Management: | ​ | ​ | ​ | ​ | ​ | ​
Investment Management | ​ | ​ | 426.7 | ​ | ​ | 407.1
International Pension | ​ | ​ | 92.4 | ​ | ​ | 93.3
Eliminations | ​ | ​ | (4.4) | ​ | ​ | (3.8)
Total Principal Asset Management | ​ | ​ | 514.7 | ​ | ​ | 496.6
Benefits and Protection: | ​ |  | ​ | ​ |  | ​
Specialty Benefits | ​ |  | 3.7 | ​ |  | 3.8
Life Insurance | ​ |  | 21.1 | ​ |  | 20.9
Total Benefits and Protection | ​ | ​ | 24.8 | ​ | ​ | 24.7
Corporate | ​ |  | 60.6 | ​ |  | 57.9
Total segment revenue from contracts with customers | ​ |  | 745.8 | ​ |  | 738.5
Adjustments for fees and other revenues not within the scope of revenue recognition guidance (1) | ​ |  | 314.5 | ​ |  | 295.1
Pre-tax other adjustments (2) | ​ |  | 17.4 | ​ |  | 19.3
Total fees and other revenues per consolidated statements of operations | ​ | $ | 1,077.7 | ​ | $ | 1,052.9
(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,
​ |  | 2025 |  | 2024
​ | ​ | (in millions)
Administrative service fee revenue | ​ | $ | 141.2 | ​ | $ | 155.5
Deposit account fee revenue | ​ | ​ | 3.4 | ​ | ​ | 3.1
Commission income | ​ | ​ | 1.1 | ​ | ​ | 0.7
Total revenues from contracts with customers | ​ | ​ | 145.7 | ​ | ​ | 159.3
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 295.5 | ​ | ​ | 279.3
Total fees and other revenues | ​ |  | 441.2 | ​ |  | 438.6
Premiums and other considerations | ​ |  | 810.3 | ​ |  | 765.6
Net investment income | ​ |  | 823.7 | ​ |  | 728.2
Total operating revenues | ​ | $ | 2,075.2 | ​ | $ | 1,932.4
​
Principal Asset Management | International Pension |
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended March 31,
​ |  | 2025 |  | 2024
​ | ​ | (in millions)
International Pension: | ​ | ​ | ​ | ​ | ​ | ​
Management fee revenue | ​ | $ | 89.2 | ​ | $ | 89.1
Other fee revenue | ​ |  | 3.2 | ​ |  | 4.2
Total revenues from contracts with customers | ​ |  | 92.4 | ​ |  | 93.3
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 1.2 | ​ | ​ | 1.3
Total fees and other revenues | ​ |  | 93.6 | ​ |  | 94.6
Premiums and other considerations | ​ |  | 1.7 | ​ |  | 2.0
Net investment income | ​ |  | 142.5 | ​ |  | 127.2
Total operating revenues | ​ | $ | 237.8 | ​ | $ | 223.8
Principal Asset Management | Investment Management |
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended March 31,
​ |  | 2025 |  | 2024
​ | ​ | (in millions)
Investment Management: | ​ | ​ | ​ | ​ | ​ | ​
Management fee revenue | ​ | $ | 389.1 | ​ | $ | 370.5
Other fee revenue | ​ |  | 37.6 | ​ |  | 36.6
Total revenues from contracts with customers | ​ |  | 426.7 | ​ |  | 407.1
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 2.8 | ​ | ​ | 5.2
Total fees and other revenues | ​ |  | 429.5 | ​ |  | 412.3
Net investment income | ​ |  | 24.2 | ​ |  | 23.2
Total operating revenues | ​ | $ | 453.7 | ​ | $ | 435.5
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,
​ |  | 2025 |  | 2024
​ | ​ | (in millions)
Specialty Benefits: | ​ | ​ | ​ |  | ​ |
Administrative service fees | ​ | $ | 3.7 | ​ | $ | 3.8
Total revenues from contracts with customers | ​ | ​ | 3.7 | ​ |  | 3.8
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 4.6 | ​ | ​ | 4.6
Total fees and other revenues | ​ | ​ | 8.3 | ​ |  | 8.4
Premiums and other considerations | ​ | ​ | 823.2 | ​ |  | 792.9
Net investment income | ​ | ​ | 52.4 | ​ |  | 47.0
Total operating revenues | ​ | $ | 883.9 | ​ | $ | 848.3
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,
​ |  | 2025 |  | 2024
​ | ​ | (in millions)
Life Insurance: | ​ | ​ | ​ | ​ |  | ​
Administrative service fees | ​ | $ | 10.9 | ​ | $ | 7.9
Commission income | ​ | ​ | 10.2 | ​ |  | 13.0
Total revenues from contracts with customers | ​ | ​ | 21.1 | ​ |  | 20.9
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | 89.6 | ​ | ​ | 84.2
Total fees and other revenues | ​ | ​ | 110.7 | ​ |  | 105.1
Premiums and other considerations | ​ | ​ | 124.4 | ​ |  | 128.9
Net investment income | ​ | ​ | 95.4 | ​ |  | 103.8
Total operating revenues | ​ | $ | 330.5 | ​ | $ | 337.8
Corporate |
Revenues from Contracts with Customers |
Disaggregation of Revenues from Contracts with Customers (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended March 31,
​ |  | 2025 |  | 2024
​ | ​ | (in millions)
Commission income | ​ | $ | 131.5 | ​ | $ | 105.5
Other fee revenue | ​ |  | 23.9 | ​ |  | 21.7
Eliminations | ​ |  | (94.8) | ​ |  | (69.3)
Total revenues from contracts with customers | ​ |  | 60.6 | ​ |  | 57.9
Fees and other revenues not within the scope of revenue recognition guidance | ​ | ​ | (78.9) | ​ | ​ | (79.3)
Total fees and other revenues | ​ |  | (18.3) | ​ |  | (21.4)
Premiums and other considerations | ​ | ​ | (1.3) | ​ | ​ | (1.3)
Net investment income | ​ |  | 56.7 | ​ |  | 53.8
Total operating revenues | ​ | $ | 37.1 | ​ | $ | 31.1
​

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