Revenues from Contracts with Customers (Tables)

6 Months Ended

Jun. 30, 2019

Revenues from Contracts with Customers

Disaggregation of Revenues from Contracts with Customers (Table)

	For the three months ended				For the six months ended
	June 30,				June 30,
	2019		2018		2019			2018
	(in millions)
Revenue from contracts with customers by segment:
Retirement and Income Solutions:
Retirement and Income Solutions – Fee	$	63.9	$	66.9	$	122.3	$	128.6
Retirement and Income Solutions – Spread		2.3		2.7		5.2		5.4
Total Retirement and Income Solutions		66.2		69.6		127.5		134.0
Principal Global Investors		346.2		371.1		678.5		731.4
Principal International		116.2		123.1		231.1		244.2
U.S. Insurance Solutions:
Specialty Benefits insurance		3.6		3.8		7.3		7.5
Individual Life insurance		12.6		9.8		24.6		19.2
Eliminations		(0.1)		(0.1)		(0.1)		(0.1)
Total U.S. Insurance Solutions		16.1		13.5		31.8		26.6
Corporate		42.5		37.0		79.5		80.9
Total segment revenue from contracts with customers		587.2		614.3		1,148.4		1,217.1
Adjustments for fees and other revenues not within the scope of revenue recognition guidance (1)		415.2		399.0		824.4		809.1
Pre-tax other adjustments (2)		4.2		(0.7)		7.3		(2.3)
Total fees and other revenues per consolidated statements of operations	$	1,006.6	$	1,012.6	$	1,980.1	$	2,023.9

(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 the recognition of deferred front-end fee revenues for sales charges on retirement and life insurance products and certain market value adjustments to fee revenues.

Retirement and Income Solutions | Retirement and Income Solutions - Fee

Revenues from Contracts with Customers

Disaggregation of Revenues from Contracts with Customers (Table)

	For the three months ended				For the six months ended
	June 30,				June 30,
	2019		2018		2019			2018
	(in millions)
Administrative service fee revenue	$	63.3	$	66.3	$	121.5	$	127.9
Other fee revenue		0.6		0.6		0.8		0.7
Total revenues from contracts with customers		63.9		66.9		122.3		128.6
Fees and other revenues not within the scope of revenue recognition guidance		281.6		282.8		553.4		569.2
Total fees and other revenues		345.5		349.7		675.7		697.8
Premiums and other considerations		0.6		0.9		1.7		2.4
Net investment income		104.4		95.9		203.9		194.1
Total operating revenues	$	450.5	$	446.5	$	881.3	$	894.3

Retirement and Income Solutions | Retirement and Income Solutions - Spread

Revenues from Contracts with Customers

Disaggregation of Revenues from Contracts with Customers (Table)

	For the three months ended				For the six months ended
	June 30,				June 30,
	2019		2018		2019			2018
	(in millions)
Deposit account fee revenue	$	2.3	$	2.7	$	5.2	$	5.4
Total revenues from contracts with customers		2.3		2.7		5.2		5.4
Fees and other revenues not within the scope of revenue recognition guidance		4.2		2.9		9.1		5.6
Total fees and other revenues		6.5		5.6		14.3		11.0
Premiums and other considerations		1,171.5		555.1		2,129.0		843.4
Net investment income		531.1		442.7		1,026.9		880.1
Total operating revenues	$	1,709.1	$	1,003.4	$	3,170.2	$	1,734.5

Principal Global Investors

Revenues from Contracts with Customers

Disaggregation of Revenues from Contracts with Customers (Table)

	For the three months ended				For the six months ended
	June 30,				June 30,
	2019		2018		2019			2018
	(in millions)
Management fee revenue	$	304.2	$	312.2	$	597.0	$	628.5
Other fee revenue		42.0		58.9		81.5		102.9
Total revenues from contracts with customers		346.2		371.1		678.5		731.4
Fees and other revenues not within the scope of revenue recognition guidance		10.4		7.3		14.7		14.0
Total fees and other revenues		356.6		378.4		693.2		745.4
Net investment income		2.9		1.2		5.3		2.7
Total operating revenues	$	359.5	$	379.6	$	698.5	$	748.1

Principal International

Revenues from Contracts with Customers

Disaggregation of Revenues from Contracts with Customers (Table)

	For the three months ended				For the six months ended
	June 30,				June 30,
	2019		2018		2019			2018
	(in millions)
Management fee revenue	$	115.5	$	121.8	$	229.8	$	241.9
Other fee revenue		0.7		1.3		1.3		2.3
Total revenues from contracts with customers		116.2		123.1		231.1		244.2
Fees and other revenues not within the scope of revenue recognition guidance		1.7		1.8		3.4		3.8
Total fees and other revenues		117.9		124.9		234.5		248.0
Premiums and other considerations		109.5		101.6		227.0		199.5
Net investment income		184.2		163.1		330.6		325.2
Total operating revenues	$	411.6	$	389.6	$	792.1	$	772.7
Revenues from contracts with customers by region:
Latin America	$	88.6	$	96.5	$	176.7	$	189.0
Asia		27.6		26.7		54.6		55.4
Principal International corporate / regional offices		0.2		0.3		0.4		0.6
Eliminations		(0.2)		(0.4)		(0.6)		(0.8)
Total revenues from contracts with customers	$	116.2	$	123.1	$	231.1	$	244.2

U.S. Insurance Solutions

Revenues from Contracts with Customers

Disaggregation of Revenues from Contracts with Customers (Table)

	For the three months ended				For the six months ended
	June 30,				June 30,
	2019		2018		2019			2018
	(in millions)
Specialty Benefits Insurance:
Administrative service fees	$	3.6	$	3.8	$	7.3	$	7.5
Total revenues from contracts with customers		3.6		3.8		7.3		7.5
Fees and other revenues not within the scope of revenue recognition guidance		4.9		5.2		9.8		10.4
Total fees and other revenues		8.5		9.0		17.1		17.9
Premiums and other considerations		571.6		527.7		1,127.5		1,044.7
Net investment income		45.7		35.5		83.0		75.0
Total operating revenues	$	625.8	$	572.2	$	1,227.6	$	1,137.6

	For the three months ended				For the six months ended
	June 30,				June 30,
	2019		2018		2019			2018
	(in millions)
Individual Life Insurance:
Administrative service fees	$	6.2	$	5.8	$	12.1	$	11.6
Commission income		6.4		4.0		12.5		7.6
Total revenues from contracts with customers		12.6		9.8		24.6		19.2
Fees and other revenues not within the scope of revenue recognition guidance		190.3		177.7		382.5		363.4
Total fees and other revenues		202.9		187.5		407.1		382.6
Premiums and other considerations		79.7		80.5		172.6		171.0
Net investment income		179.0		164.0		348.2		329.7
Total operating revenues	$	461.6	$	432.0	$	927.9	$	883.3

Corporate

Revenues from Contracts with Customers

Disaggregation of Revenues from Contracts with Customers (Table)

	For the three months ended				For the six months ended
	June 30,				June 30,
	2019		2018		2019			2018
	(in millions)
Commission income	$	78.7	$	78.5	$	154.5	$	157.5
Other fee revenue		11.2		9.2		20.0		17.2
Eliminations		(47.4)		(50.7)		(95.0)		(93.8)
Total revenues from contracts with customers		42.5		37.0		79.5		80.9
Fees and other revenues not within the scope of revenue recognition guidance		(77.9)		(78.7)		(148.5)		(157.3)
Total fees and other revenues		(35.4)		(41.7)		(69.0)		(76.4)
Net investment income		19.6		24.7		54.4		59.4
Total operating revenues	$	(15.8)	$	(17.0)	$	(14.6)	$	(17.0)