Principal Financial Group Inc (PFG) Financial Statements (2025 and earlier)

Company Profile

Business Address 711 HIGH STREET
DES MOINES, IA 50392
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 6321 - Accident and Health Insurance (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

9/30/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments5,5445,6092,7545,3955,0715,457
Cash and cash equivalents4,7084,8482,3322,8502,5162,978
Short-term investments8367614222,5462,5552,480
Total current assets:5,5445,6092,7545,3955,0715,457
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization 7482945031
Operating lease, right-of-use asset 177195211235190
Property, plant and equipment     968767
Long-term investments and receivables    843830869
Long-term investments    843830869
Intangible assets, net (including goodwill)3,0783,1323,2283,4343,4812,415
Goodwill1,6091,5981,6281,7111,6941,100
Intangible assets, net (excluding goodwill)1,4701,5331,6011,7231,7871,315
Deferred income tax assets 24111685114124
Total noncurrent assets:3,5703,5243,6184,6755,6234,051
Other undisclosed assets295,933283,107298,285286,558265,393233,528
TOTAL ASSETS:305,047292,240304,657296,628276,088243,036
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt618180859343
Total current liabilities:618180859343
Noncurrent Liabilities
Liabilities, other than long-term debt1,6131,2072,3202,3311,797 
Deferred income tax liabilities1,6131,2072,3202,3311,797
Total noncurrent liabilities:1,6131,2072,3202,3311,797 
Other undisclosed liabilities292,162280,647285,799277,339259,247231,146
Total liabilities:293,836281,935288,199279,755261,137231,189
Temporary equity, carrying amount249262333256265391
Equity
Equity, attributable to parent10,91610,00216,06916,55914,61811,390
Common stock555555
Treasury stock, value(11,336)(10,587)(8,926)(7,989)(7,682)(7,401)
Additional paid in capital10,90910,74010,49510,32210,18310,061
Accumulated other comprehensive income (loss)(5,345)(7,199)1,6112,3831,038(1,565)
Retained earnings16,68417,04212,88511,83811,07410,290
Equity, attributable to noncontrolling interest464156586866
Total equity:10,96210,04316,12616,61714,68611,456
TOTAL LIABILITIES AND EQUITY:305,047292,240304,657296,628276,088243,036

Income Statement (P&L) ($ in millions)

9/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues13,66617,49214,26314,74216,22214,237
Premiums earned, net6,4715,3404,8426,0377,8676,410
Net investment income4,0923,8304,4063,8913,9983,629
Cost of revenue(7,877)(6,850)(7,471)(8,807)(10,025)(8,316)
Policyholder benefits and claims incurred, net(7,788)(6,371)(7,097)(8,282)(9,906)(8,193)
Gross profit:5,78810,6426,7925,9356,1975,921
Operating expenses   (209)(187)  
Operating income:5,78810,6426,5835,7486,1975,921
Nonoperating income (expense)
(Investment Income, Nonoperating)
  (259)243  
Interest and debt expense (2)(1)(1)(1)(1) 
Other undisclosed loss from continuing operations before equity method investments, income taxes      
Income from continuing operations before income taxes:5,78710,6406,3235,9906,1965,921
Income tax expense (benefit)(69)(1,208)(326)(265)(249)(231)
Income from continuing operations:5,7189,4335,9975,7255,9475,690
Income before gain (loss) on sale of properties:5,9975,7255,9475,690
Other undisclosed net loss(5,048)(4,580)(4,240)(4,296)(4,503)(4,137)
Net income (loss):6704,8521,7571,4291,4441,554
Net loss attributable to noncontrolling interest(47)(41)(47)(33)(50)(7)
Net income (loss) available to common stockholders, diluted:6234,8121,7111,3961,3941,547

Comprehensive Income ($ in millions)

9/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):6704,8521,7571,4291,4441,554
Net loss attributable to redeemable noncontrolling interest
Other comprehensive income (loss)1,534(8,941)(776)1,3472,607(1,836)
Comprehensive income (loss):2,204(4,089)9822,7764,051(282)
Comprehensive loss, net of tax, attributable to noncontrolling interest(47)(41)(43)(35)(54)(3)
Comprehensive income (loss), net of tax, attributable to parent:2,157(4,130)9382,7413,997(285)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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