Revenues from Contracts with Customers (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Revenues from Contracts with Customers |
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| Disaggregation of Revenues from Contracts with Customers (Table) |
| | | | | | | | | | | | | | | For the three months ended | | For the six months ended | | | June 30, | | June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | | | (in millions) | Revenue from contracts with customers by segment: | | | | | | | | | | | | | Retirement and Income Solutions | | $ | 181.9 | | $ | 148.2 | | $ | 332.5 | | $ | 293.9 | Principal Asset Management: | | | | | | | | | | | | | Investment Management | | | 436.4 | | | 433.1 | | | 873.2 | | | 859.8 | International Pension | | | 96.2 | | | 91.4 | | | 192.3 | | | 183.8 | Eliminations | | | (5.8) | | | (4.9) | | | (11.6) | | | (9.3) | Total Principal Asset Management | | | 526.8 | | | 519.6 | | | 1,053.9 | | | 1,034.3 | Benefits and Protection: | | | | | | | | | | | | | Specialty Benefits | | | 3.7 | | | 4.0 | | | 7.3 | | | 7.7 | Life Insurance | | | 11.8 | | | 22.7 | | | 23.5 | | | 43.8 | Total Benefits and Protection | | | 15.5 | | | 26.7 | | | 30.8 | | | 51.5 | Corporate | | | 62.8 | | | 55.5 | | | 139.7 | | | 116.1 | Total segment revenue from contracts with customers | | | 787.0 | | | 750.0 | | | 1,556.9 | | | 1,495.8 | Adjustments for fees and other revenues not within the scope of revenue recognition guidance (1) | | | 341.0 | | | 315.4 | | | 670.6 | | | 629.9 | Pre-tax other adjustments (2) | | | 18.0 | | | 17.2 | | | 35.8 | | | 34.6 | Total fees and other revenues per consolidated statements of operations | | $ | 1,146.0 | | $ | 1,082.6 | | $ | 2,263.3 | | $ | 2,160.3 |
| (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. |
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| Retirement and Income Solutions |
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| Revenues from Contracts with Customers |
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| Disaggregation of Revenues from Contracts with Customers (Table) |
| | | | | | | | | | | | | | | For the three months ended | | For the six months ended | | | June 30, | | June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | | | (in millions) | Administrative service fee revenue | | $ | 176.3 | | $ | 143.6 | | $ | 321.4 | | $ | 284.8 | Deposit account fee revenue | | | 3.4 | | | 3.2 | | | 7.0 | | | 6.6 | Commission income | | | 2.2 | | | 1.4 | | | 4.1 | | | 2.5 | Total revenues from contracts with customers | | | 181.9 | | | 148.2 | | | 332.5 | | | 293.9 | Fees and other revenues not within the scope of revenue recognition guidance | | | 289.0 | | | 286.0 | | | 588.9 | | | 581.5 | Total fees and other revenues | | | 470.9 | | | 434.2 | | | 921.4 | | | 875.4 | Premiums and other considerations | | | 487.9 | | | 447.2 | | | 659.8 | | | 1,257.5 | Net investment income | | | 922.6 | | | 836.9 | | | 1,819.2 | | | 1,660.6 | Total operating revenues | | $ | 1,881.4 | | $ | 1,718.3 | | $ | 3,400.4 | | $ | 3,793.5 |
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| Principal Asset Management | Investment Management |
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| Revenues from Contracts with Customers |
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| Disaggregation of Revenues from Contracts with Customers (Table) |
| | | | | | | | | | | | | | | For the three months ended | | For the six months ended | | | June 30, | | June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | | | (in millions) | Investment Management: | | | | | | | | | | | | | Management fee revenue | | $ | 396.8 | | $ | 388.1 | | $ | 795.4 | | $ | 777.2 | Other fee revenue | | | 39.6 | | | 45.0 | | | 77.8 | | | 82.6 | Total revenues from contracts with customers | | | 436.4 | | | 433.1 | | | 873.2 | | | 859.8 | Fees and other revenues not within the scope of revenue recognition guidance | | | 13.0 | | | 9.8 | | | 18.1 | | | 12.6 | Total fees and other revenues | | | 449.4 | | | 442.9 | | | 891.3 | | | 872.4 | Net investment income | | | 22.9 | | | 24.3 | | | 47.1 | | | 48.5 | Total operating revenues | | $ | 472.3 | | $ | 467.2 | | $ | 938.4 | | $ | 920.9 |
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| Principal Asset Management | International Pension |
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| Revenues from Contracts with Customers |
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| Disaggregation of Revenues from Contracts with Customers (Table) |
| | | | | | | | | | | | | | | For the three months ended | | For the six months ended | | | June 30, | | June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | | | (in millions) | International Pension: | | | | | | | | | | | | | Management fee revenue | | $ | 92.2 | | $ | 87.6 | | $ | 184.5 | | $ | 176.8 | Other fee revenue | | | 4.0 | | | 3.8 | | | 7.8 | | | 7.0 | Total revenues from contracts with customers | | | 96.2 | | | 91.4 | | | 192.3 | | | 183.8 | Fees and other revenues not within the scope of revenue recognition guidance | | | 1.0 | | | 1.5 | | | 2.0 | | | 2.7 | Total fees and other revenues | | | 97.2 | | | 92.9 | | | 194.3 | | | 186.5 | Premiums and other considerations | | | (0.2) | | | 3.9 | | | (0.3) | | | 5.6 | Net investment income | | | 228.0 | | | 144.0 | | | 354.0 | | | 286.5 | Total operating revenues | | $ | 325.0 | | $ | 240.8 | | $ | 548.0 | | $ | 478.6 |
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| Benefits and Protection | Specialty Benefits |
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| Revenues from Contracts with Customers |
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| Disaggregation of Revenues from Contracts with Customers (Table) |
| | | | | | | | | | | | | | | For the three months ended | | For the six months ended | | | June 30, | | June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | | | (in millions) | Specialty Benefits: | | | | | | | | | | | | | Administrative service fees | | $ | 3.7 | | $ | 4.0 | | $ | 7.3 | | $ | 7.7 | Total revenues from contracts with customers | | | 3.7 | | | 4.0 | | | 7.3 | | | 7.7 | Fees and other revenues not within the scope of revenue recognition guidance | | | 4.2 | | | 4.1 | | | 8.5 | | | 8.7 | Total fees and other revenues | | | 7.9 | | | 8.1 | | | 15.8 | | | 16.4 | Premiums and other considerations | | | 865.4 | | | 832.1 | | | 1,718.9 | | | 1,655.3 | Net investment income | | | 55.6 | | | 52.0 | | | 111.1 | | | 104.4 | Total operating revenues | | $ | 928.9 | | $ | 892.2 | | $ | 1,845.8 | | $ | 1,776.1 |
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| Benefits and Protection | Life Insurance |
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| Revenues from Contracts with Customers |
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| Disaggregation of Revenues from Contracts with Customers (Table) |
| | | | | | | | | | | | | | | For the three months ended | | For the six months ended | | | June 30, | | June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | | | (in millions) | Life Insurance: | | | | | | | | | | | | | Administrative service fees | | $ | 11.8 | | $ | 10.9 | | $ | 23.5 | | $ | 21.8 | Commission income | | | — | | | 11.8 | | | — | | | 22.0 | Total revenues from contracts with customers | | | 11.8 | | | 22.7 | | | 23.5 | | | 43.8 | Fees and other revenues not within the scope of revenue recognition guidance | | | 95.2 | | | 91.8 | | | 191.8 | | | 181.4 | Total fees and other revenues | | | 107.0 | | | 114.5 | | | 215.3 | | | 225.2 | Premiums and other considerations | | | 117.1 | | | 123.5 | | | 247.4 | | | 247.9 | Net investment income | | | 121.0 | | | 116.2 | | | 219.4 | | | 211.6 | Total operating revenues | | $ | 345.1 | | $ | 354.2 | | $ | 682.1 | | $ | 684.7 |
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| Corporate |
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| Revenues from Contracts with Customers |
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| Disaggregation of Revenues from Contracts with Customers (Table) |
| | | | | | | | | | | | | | | For the three months ended | | For the six months ended | | | June 30, | | June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | | | (in millions) | Commission income | | $ | 117.4 | | $ | 131.9 | | $ | 245.8 | | $ | 263.4 | Other fee revenue | | | 26.1 | | | 25.1 | | | 54.0 | | | 49.0 | Eliminations | | | (80.7) | | | (101.5) | | | (160.1) | | | (196.3) | Total revenues from contracts with customers | | | 62.8 | | | 55.5 | | | 139.7 | | | 116.1 | Fees and other revenues not within the scope of revenue recognition guidance | | | (61.3) | | | (78.1) | | | (138.6) | | | (157.0) | Total fees and other revenues | | | 1.5 | | | (22.6) | | | 1.1 | | | (40.9) | Premiums and other considerations | | | (1.4) | | | (1.4) | | | (2.8) | | | (2.7) | Net investment income | | | 47.6 | | | 45.6 | | | 109.2 | | | 102.3 | Total operating revenues | | $ | 47.7 | | $ | 21.6 | | $ | 107.5 | | $ | 58.7 |
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