Revenues from Contracts with Customers (Tables)
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9 Months Ended |
Sep. 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 nine months ended | | | September 30, | | September 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | | | (in millions) | Revenue from contracts with customers by segment: | | | | | | | | | | | | | Retirement and Income Solutions | | $ | 147.1 | | $ | 155.4 | | $ | 479.6 | | $ | 449.3 | Principal Asset Management: | | | | | | | | | | | | | Investment Management | | | 436.3 | | | 448.6 | | | 1,309.5 | | | 1,308.4 | International Pension | | | 90.6 | | | 88.7 | | | 282.9 | | | 272.5 | Eliminations | | | (5.7) | | | (4.8) | | | (17.3) | | | (14.1) | Total Principal Asset Management | | | 521.2 | | | 532.5 | | | 1,575.1 | | | 1,566.8 | Benefits and Protection: | | | | | | | | | | | | | Specialty Benefits | | | 3.3 | | | 4.0 | | | 10.6 | | | 11.7 | Life Insurance | | | 12.2 | | | 23.1 | | | 35.7 | | | 66.9 | Eliminations | | | (0.1) | | | (0.1) | | | (0.1) | | | (0.1) | Total Benefits and Protection | | | 15.4 | | | 27.0 | | | 46.2 | | | 78.5 | Corporate | | | 68.7 | | | 64.9 | | | 208.4 | | | 181.0 | Total segment revenue from contracts with customers | | | 752.4 | | | 779.8 | | | 2,309.3 | | | 2,275.6 | Adjustments for fees and other revenues not within the scope of revenue recognition guidance (1) | | | 374.1 | | | 331.2 | | | 1,044.7 | | | 961.1 | Pre-tax other adjustments (2) | | | 17.6 | | | 17.7 | | | 53.4 | | | 52.3 | Total fees and other revenues per consolidated statements of operations | | $ | 1,144.1 | | $ | 1,128.7 | | $ | 3,407.4 | | $ | 3,289.0 |
| (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, actuarial assumption review, 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 nine months ended | | | September 30, | | September 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | | | (in millions) | Administrative service fee revenue | | $ | 141.1 | | $ | 150.5 | | $ | 462.5 | | $ | 435.3 | Deposit account fee revenue | | | 3.6 | | | 3.3 | | | 10.6 | | | 9.9 | Commission income | | | 2.4 | | | 1.6 | | | 6.5 | | | 4.1 | Total revenues from contracts with customers | | | 147.1 | | | 155.4 | | | 479.6 | | | 449.3 | Fees and other revenues not within the scope of revenue recognition guidance | | | 324.9 | | | 303.9 | | | 913.8 | | | 885.4 | Total fees and other revenues | | | 472.0 | | | 459.3 | | | 1,393.4 | | | 1,334.7 | Premiums and other considerations | | | 889.6 | | | 566.5 | | | 1,549.4 | | | 1,824.0 | Net investment income | | | 932.8 | | | 860.4 | | | 2,752.0 | | | 2,521.0 | Total operating revenues | | $ | 2,294.4 | | $ | 1,886.2 | | $ | 5,694.8 | | $ | 5,679.7 |
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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 nine months ended | | | September 30, | | September 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | | | (in millions) | Investment Management: | | | | | | | | | | | | | Management fee revenue | | $ | 394.9 | | $ | 409.5 | | $ | 1,190.3 | | $ | 1,186.7 | Other fee revenue | | | 41.4 | | | 39.1 | | | 119.2 | | | 121.7 | Total revenues from contracts with customers | | | 436.3 | | | 448.6 | | | 1,309.5 | | | 1,308.4 | Fees and other revenues not within the scope of revenue recognition guidance | | | 14.3 | | | 8.9 | | | 32.4 | | | 21.5 | Total fees and other revenues | | | 450.6 | | | 457.5 | | | 1,341.9 | | | 1,329.9 | Net investment income | | | 26.2 | | | 26.4 | | | 73.3 | | | 74.9 | Total operating revenues | | $ | 476.8 | | $ | 483.9 | | $ | 1,415.2 | | $ | 1,404.8 |
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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 nine months ended | | | September 30, | | September 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | | | (in millions) | International Pension: | | | | | | | | | | | | | Management fee revenue | | $ | 86.7 | | $ | 85.2 | | $ | 271.2 | | $ | 262.0 | Other fee revenue | | | 3.9 | | | 3.5 | | | 11.7 | | | 10.5 | Total revenues from contracts with customers | | | 90.6 | | | 88.7 | | | 282.9 | | | 272.5 | Fees and other revenues not within the scope of revenue recognition guidance | | | 1.0 | | | 5.7 | | | 3.0 | | | 8.4 | Total fees and other revenues | | | 91.6 | | | 94.4 | | | 285.9 | | | 280.9 | Premiums and other considerations | | | (0.1) | | | 0.5 | | | (0.4) | | | 6.1 | Net investment income | | | 84.7 | | | 153.1 | | | 438.7 | | | 439.6 | Total operating revenues | | $ | 176.2 | | $ | 248.0 | | $ | 724.2 | | $ | 726.6 |
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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 nine months ended | | | September 30, | | September 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | | | (in millions) | Specialty Benefits: | | | | | | | | | | | | | Administrative service fees | | $ | 3.3 | | $ | 4.0 | | $ | 10.6 | | $ | 11.7 | Total revenues from contracts with customers | | | 3.3 | | | 4.0 | | | 10.6 | | | 11.7 | Fees and other revenues not within the scope of revenue recognition guidance | | | 4.7 | | | 4.4 | | | 13.2 | | | 13.1 | Total fees and other revenues | | | 8.0 | | | 8.4 | | | 23.8 | | | 24.8 | Premiums and other considerations | | | 887.4 | | | 836.8 | | | 2,606.3 | | | 2,492.1 | Net investment income | | | 59.0 | | | 51.3 | | | 170.1 | | | 155.7 | Total operating revenues | | $ | 954.4 | | $ | 896.5 | | $ | 2,800.2 | | $ | 2,672.6 |
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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 nine months ended | | | September 30, | | September 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | | | (in millions) | Life Insurance: | | | | | | | | | | | | | Administrative service fees | | $ | 12.2 | | $ | 11.0 | | $ | 35.7 | | $ | 32.8 | Commission income | | | — | | | 12.1 | | | — | | | 34.1 | Total revenues from contracts with customers | | | 12.2 | | | 23.1 | | | 35.7 | | | 66.9 | Fees and other revenues not within the scope of revenue recognition guidance | | | 95.8 | | | 89.7 | | | 287.6 | | | 271.1 | Total fees and other revenues | | | 108.0 | | | 112.8 | | | 323.3 | | | 338.0 | Premiums and other considerations | | | 130.6 | | | 136.1 | | | 378.0 | | | 384.0 | Net investment income | | | 103.6 | | | 115.3 | | | 323.0 | | | 326.9 | Total operating revenues | | $ | 342.2 | | $ | 364.2 | | $ | 1,024.3 | | $ | 1,048.9 |
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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 nine months ended | | | September 30, | | September 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | | | (in millions) | Commission income | | $ | 120.6 | | $ | 133.5 | | $ | 366.4 | | $ | 396.9 | Other fee revenue | | | 27.8 | | | 25.2 | | | 81.8 | | | 74.2 | Eliminations | | | (79.7) | | | (93.8) | | | (239.8) | | | (290.1) | Total revenues from contracts with customers | | | 68.7 | | | 64.9 | | | 208.4 | | | 181.0 | Fees and other revenues not within the scope of revenue recognition guidance | | | (66.7) | | | (81.4) | | | (205.3) | | | (238.4) | Total fees and other revenues | | | 2.0 | | | (16.5) | | | 3.1 | | | (57.4) | Premiums and other considerations | | | (1.4) | | | (1.3) | | | (4.2) | | | (4.0) | Net investment income | | | 36.2 | | | 42.0 | | | 145.4 | | | 144.3 | Total operating revenues | | $ | 36.8 | | $ | 24.2 | | $ | 144.3 | | $ | 82.9 |
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