Segment Information (Tables)

3 Months Ended

Mar. 31, 2017

Segment Information

Reconciliation of Assets from Segment to Consolidated (Table)

	March 31, 2017		December 31, 2016
	(in millions)
Assets:
Retirement and Income Solutions	$	158,505.5	$	152,721.7
Principal Global Investors	1,866.8		1,952.1
Principal International	47,440.1		45,118.3
U.S. Insurance Solutions	23,553.3		23,144.2
Corporate	4,130.3		5,078.0
Total consolidated assets	$	235,496.0	$	228,014.3

Reconciliation of Operating Revenues and Pre-tax Operating Earnings (Losses) by Segment (Table)

	For the three months ended March 31,
	2017		2016
	(in millions)
Operating revenues by segment:
Retirement and Income Solutions:
Retirement and Income Solutions – Fee	$	450.4	$	413.3
Retirement and Income Solutions – Spread	1,032.2		1,050.7
Total Retirement and Income Solutions (1)	1,482.6		1,464.0
Principal Global Investors (2)	345.9		309.5
Principal International	321.3		286.6
U.S. Insurance Solutions:
Specialty benefits insurance	528.5		482.9
Individual life insurance	427.9		408.0
Total U.S. Insurance Solutions	956.4		890.9
Corporate	(1.5)		(13.1)
Total segment operating revenues	3,104.7		2,937.9
Net realized capital gains (losses), net of related revenue adjustments	(32.6)		113.6
Adjustments related to equity method investments	(22.7)		(14.9)
Total revenues per consolidated statements of operations	$	3,049.4	$	3,036.6
Pre-tax operating earnings (losses) by segment:
Retirement and Income Solutions	$	244.2	$	181.4
Principal Global Investors	100.0		79.7
Principal International	100.9		68.0
U.S. Insurance Solutions	86.2		80.5
Corporate	(58.5)		(53.3)
Total segment pre-tax operating earnings	472.8		356.3
Pre-tax net realized capital gains (losses), as adjusted (3)	(38.8)		96.8
Adjustments related to equity method investments and noncontrolling interest	(20.0)		(13.3)
Income before income taxes per consolidated statements of operations	$	414.0	$	439.8

(1) Reflects inter-segment revenues of $95.1 million and $89.2 million for the three months ended March 31, 2017 and 2016, respectively.

(2) Reflects inter-segment revenues of $59.9 million and $54.3 million for the three months ended March 31, 2017 and 2016, respectively.

(3) Pre-tax net realized capital gains (losses), as adjusted, is derived as follows:

	For the three months ended March 31,
	2017		2016
	(in millions)
Net realized capital gains (losses):
Net realized capital gains (losses)	$	(16.6)	$	136.6
Derivative and hedging-related adjustments	(17.6)		(24.3)
Market value adjustments to fee revenues	—		(0.7)
Adjustments related to equity method investments	0.6		0.3
Adjustments related to sponsored investment funds	1.2		1.4
Recognition of front-end fee revenue	(0.2)		0.3
Net realized capital gains (losses), net of related revenue adjustments	(32.6)		113.6
Amortization of deferred acquisition costs and other actuarial balances	9.1		(46.3)
Capital (gains) losses distributed	(17.1)		27.1
Market value adjustments of embedded derivatives	1.8		2.4
Pre-tax net realized capital gains (losses), as adjusted (a)	$	(38.8)	$	96.8

(a) As adjusted before noncontrolling interest capital gains (losses).