
	For the three months ended				For the nine months ended
	September 30,				September 30,
	2025		2024		2025		2024

	(in millions)
Revenue from contracts with customers by segment:
Retirement and Income Solutions	$	155.4	$	169.3	$	449.3	$	493.3
Principal Asset Management:
Investment Management		448.6		433.9		1,308.4		1,253.9
International Pension		88.7		92.3		272.5		279.2
Eliminations		(4.8)		(3.5)		(14.1)		(11.8)
Total Principal Asset Management		532.5		522.7		1,566.8		1,521.3
Benefits and Protection:
Specialty Benefits		4.0		3.8		11.7		11.6
Life Insurance		23.1		24.7		66.9		69.8
Eliminations		(0.1)		—		(0.1)		(0.1)
Total Benefits and Protection		27.0		28.5		78.5		81.3
Corporate		64.9		52.6		181.0		166.3
Total segment revenue from contracts with customers		779.8		773.1		2,275.6		2,262.2
Adjustments for fees and other revenues not within the scope of revenue recognition guidance (1)		331.2		299.7		961.1		886.5
Pre-tax other adjustments (2)		17.7		18.3		52.3		56.7
Total fees and other revenues per consolidated statements of operations	$	1,128.7	$	1,091.1	$	3,289.0	$	3,205.4

(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.


	For the three months ended				For the nine months ended
	September 30,				September 30,
	2025		2024		2025		2024

	(in millions)
Investment Management:
Management fee revenue	$	409.5	$	390.1	$	1,186.7	$	1,134.9
Other fee revenue		39.1		43.8		121.7		119.0
Total revenues from contracts with customers		448.6		433.9		1,308.4		1,253.9
Fees and other revenues not within the scope of revenue recognition guidance		8.9		4.1		21.5		14.9
Total fees and other revenues		457.5		438.0		1,329.9		1,268.8
Net investment income		26.4		28.4		74.9		77.3
Total operating revenues	$	483.9	$	466.4	$	1,404.8	$	1,346.1


	For the three months ended				For the nine months ended
	September 30,				September 30,
	2025		2024		2025		2024

	(in millions)
Specialty Benefits:
Administrative service fees	$	4.0	$	3.8	$	11.7	$	11.6
Total revenues from contracts with customers		4.0		3.8		11.7		11.6
Fees and other revenues not within the scope of revenue recognition guidance		4.4		4.4		13.1		13.4
Total fees and other revenues		8.4		8.2		24.8		25.0
Premiums and other considerations		836.8		810.6		2,492.1		2,408.6
Net investment income		51.3		50.1		155.7		141.9
Total operating revenues	$	896.5	$	868.9	$	2,672.6	$	2,575.5


	For the three months ended				For the nine months ended
	September 30,				September 30,
	2025		2024		2025			2024

	(in millions)
Commission income	$	133.5	$	129.4	$	396.9	$	351.8
Other fee revenue		25.2		22.4		74.2		66.5
Eliminations		(93.8)		(99.2)		(290.1)		(252.0)
Total revenues from contracts with customers		64.9		52.6		181.0		166.3
Fees and other revenues not within the scope of revenue recognition guidance		(81.4)		(78.7)		(238.4)		(235.8)
Total fees and other revenues		(16.5)		(26.1)		(57.4)		(69.5)
Premiums and other considerations		(1.3)		(1.3)		(4.0)		(3.9)
Net investment income		42.0		58.5		144.3		142.0
Total operating revenues	$	24.2	$	31.1	$	82.9	$	68.6