Revenues from Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2023

Revenues from Contracts with Customers

Disaggregation of Revenues from Contracts with Customers (Table)

	For the three months ended
	March 31,
	2023		2022
	(in millions)
Revenue from contracts with customers by segment:
Retirement and Income Solutions	$	130.2	$	144.4
Principal Asset Management:
Principal Global Investors		381.3		429.6
Principal International		113.2		110.4
Eliminations		(5.3)		(6.6)
Total Principal Asset Management		489.2		533.4
Benefits and Protection:
Specialty Benefits		3.9		4.0
Life Insurance		16.7		15.4
Total Benefits and Protection		20.6		19.4
Corporate		45.1		53.0
Total segment revenue from contracts with customers		685.1		750.2
Adjustments for fees and other revenues not within the scope of revenue recognition guidance (1)		290.4		449.0
Pre-tax other adjustments (2)		19.8		20.0
Total fees and other revenues per consolidated statements of operations	$	995.3	$	1,219.2

(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.

Retirement and Income Solutions

Revenues from Contracts with Customers

Disaggregation of Revenues from Contracts with Customers (Table)

	For the three months ended
	March 31,
	2023		2022
	(in millions)
Administrative service fee revenue	$	126.5	$	141.5
Deposit account fee revenue		2.9		2.5
Commission income		0.4		0.2
Other fee revenue		0.4		0.2
Total revenues from contracts with customers		130.2		144.4
Fees and other revenues not within the scope of revenue recognition guidance		278.3		299.4
Total fees and other revenues		408.5		443.8
Premiums and other considerations		582.7		123.3
Net investment income		624.9		695.9
Total operating revenues	$	1,616.1	$	1,263.0

Principal Asset Management | Principal International

Revenues from Contracts with Customers

Disaggregation of Revenues from Contracts with Customers (Table)

	For the three months ended
	March 31,
	2023		2022
	(in millions)
Principal International:
Management fee revenue	$	110.9	$	107.7
Other fee revenue		2.3		2.7
Total revenues from contracts with customers		113.2		110.4
Fees and other revenues not within the scope of revenue recognition guidance		1.4		1.2
Total fees and other revenues		114.6		111.6
Premiums and other considerations		6.4		10.3
Net investment income		184.1		205.3
Total operating revenues	$	305.1	$	327.2
Revenues from contracts with customers by region:
Latin America	$	85.9	$	82.1
Asia		27.5		28.5
Eliminations		(0.2)		(0.2)
Total revenues from contracts with customers	$	113.2	$	110.4

Principal Asset Management | Principal Global Investors

Revenues from Contracts with Customers

Disaggregation of Revenues from Contracts with Customers (Table)

	For the three months ended
	March 31,
	2023		2022
	(in millions)
Principal Global Investors:
Management fee revenue	$	339.7	$	379.0
Other fee revenue		41.6		50.6
Total revenues from contracts with customers		381.3		429.6
Fees and other revenues not within the scope of revenue recognition guidance		4.6		5.3
Total fees and other revenues		385.9		434.9
Net investment income		6.8		0.4
Total operating revenues	$	392.7	$	435.3

Benefits and Protection | Specialty Benefits

Revenues from Contracts with Customers

Disaggregation of Revenues from Contracts with Customers (Table)

	For the three months ended
	March 31,
	2023		2022
	(in millions)
Specialty Benefits:
Administrative service fees	$	3.9	$	4.0
Total revenues from contracts with customers		3.9		4.0
Fees and other revenues not within the scope of revenue recognition guidance		4.6		4.7
Total fees and other revenues		8.5		8.7
Premiums and other considerations		733.6		665.6
Net investment income		40.1		43.4
Total operating revenues	$	782.2	$	717.7

Benefits and Protection | Life Insurance

Revenues from Contracts with Customers

Disaggregation of Revenues from Contracts with Customers (Table)

	For the three months ended
	March 31,
	2023		2022
	(in millions)
Life Insurance:
Administrative service fees	$	7.2	$	6.8
Commission income		9.5		8.6
Total revenues from contracts with customers		16.7		15.4
Fees and other revenues not within the scope of revenue recognition guidance		77.3		228.3
Total fees and other revenues		94.0		243.7
Premiums and other considerations		130.8		88.8
Net investment income		96.6		193.2
Total operating revenues	$	321.4	$	525.7

Corporate

Revenues from Contracts with Customers

Disaggregation of Revenues from Contracts with Customers (Table)

	For the three months ended
	March 31,
	2023		2022
	(in millions)
Commission income	$	87.9	$	97.2
Other fee revenue		20.5		19.8
Eliminations		(63.3)		(64.0)
Total revenues from contracts with customers		45.1		53.0
Fees and other revenues not within the scope of revenue recognition guidance		(75.6)		(89.7)
Total fees and other revenues		(30.5)		(36.7)
Premiums and other considerations		(1.3)		(0.5)
Net investment income		59.4		43.5
Total operating revenues	$	27.6	$	6.3