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Condensed Consolidated Statements of Financial Position - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Assets    
Fixed maturities, available-for-sale [1] $ 69,726.7 $ 68,251.0
Fixed maturities, trading (2025 and 2024 include $208.0 million and $205.9 million related to consolidated variable interest entities) 1,307.2 1,023.3
Equity securities (2025 and 2024 include $374.8 million and $367.9 million related to consolidated variable interest entities) 2,428.9 2,295.0
Mortgage loans (2025 and 2024 include $788.1 million and $944.5 million related to consolidated variable interest entities and $0.0 million and $140.6 million measured at fair value under the fair value option) 20,260.6 20,484.2
Real estate (2025 and 2024 include $804.1 million and $781.8 million related to consolidated variable interest entities) 2,480.1 2,464.5
Policy loans 875.7 867.5
Other investments (2025 and 2024 include $630.0 million and $625.6 million related to consolidated variable interest entities and $116.8 million and $129.0 million measured at fair value under the fair value option) 8,215.4 7,990.3
Total investments 105,294.6 103,375.8
Cash and cash equivalents (2025 and 2024 include $97.8 million and $86.1 million related to consolidated variable interest entities) 3,875.7 4,211.9
Accrued investment income 887.4 828.6
Reinsurance recoverable and deposit receivable 19,392.6 19,490.1
Premiums due and other receivables 3,726.0 3,771.5
Deferred acquisition costs 4,034.1 4,006.9
Market risk benefit asset 158.7 199.5
Property and equipment 742.7 769.4
Goodwill 1,567.4 1,549.7
Other intangibles 1,290.5 1,389.9
Separate account assets (2025 and 2024 include $34,658.5 million and $32,802.2 million related to consolidated variable interest entities) 171,266.2 173,327.1
Other assets 767.4 743.2
Total assets 313,003.3 313,663.6
Liabilities    
Contractholder funds 43,266.0 43,099.6
Future policy benefits and claims 49,359.4 48,179.4
Market risk benefit liability 80.4 62.1
Other policyholder funds 933.2 966.4
Short-term debt (2025 and 2024 include $0.0 million and $119.0 million related to consolidated variable interest entities) 28.9 152.7
Long-term debt 4,321.3 3,955.3
Income taxes currently payable 8.2 8.6
Deferred income taxes 1,786.6 1,706.0
Separate account liabilities (2025 and 2024 include $34,658.5 million and $32,802.2 million related to consolidated variable interest entities) 171,266.2 173,327.1
Funds withheld payable 18,212.3 18,103.7
Other liabilities (2025 and 2024 include $84.5 million and $108.8 million related to consolidated variable interest entities) 12,145.8 12,633.7
Total liabilities 301,408.3 302,194.6
Redeemable noncontrolling interest (2025 and 2024 include $298.8 million and $309.9 million related to consolidated variable interest entities) 326.7 337.7
Stockholders' equity    
Common stock, par value $0.01 per share; 2,500,000,000 shares authorized; 496,370,158 and 494,734,908 shares issued as of 2025 and 2024; 224,971,715 and 226,225,161 shares outstanding as of 2025 and 2024 5.0 4.9
Additional paid-in capital 11,157.8 11,100.9
Retained earnings (accumulated deficit) 17,459.3 17,583.5
Accumulated other comprehensive loss (4,785.9) (5,224.8)
Treasury stock, at cost; 271,398,443 and 268,509,747 shares as of 2025 and 2024 (12,619.4) (12,378.1)
Total stockholders' equity attributable to Principal Financial Group, Inc. 11,216.8 11,086.4
Noncontrolling interest 51.5 44.9
Total stockholders' equity 11,268.3 11,131.3
Total liabilities and stockholders' equity $ 313,003.3 $ 313,663.6
[1] See Note 4, Investments, for further details relating to the amortized cost of fixed maturities, available-for-sale.