Principal Financial Group Inc (PFG) Financial Statements (2024 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)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments5,6092,7545,3955,0715,4574,807
Cash and cash equivalents4,8482,3322,8502,5162,9782,471
Short-term investments7614222,5462,5552,4802,337
Total current assets:5,6092,7545,3955,0715,4574,807
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization82945031
Operating lease, right-of-use asset195211235190
Property, plant and equipment    968767760
Long-term investments and receivables   843830869821
Long-term investments   843830869821
Intangible assets, net (including goodwill)3,1323,2283,4343,4812,4152,384
Goodwill1,5981,6281,7111,6941,1001,069
Intangible assets, net (excluding goodwill)1,5331,6011,7231,7871,3151,315
Deferred income tax assets11685114124
Total noncurrent assets:3,5243,6184,6755,6234,0513,964
Other undisclosed assets283,107298,285286,558265,393233,528245,170
TOTAL ASSETS:292,240304,657296,628276,088243,036253,941
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt818085934340
Total current liabilities:818085934340
Noncurrent Liabilities
Liabilities, other than long-term debt1,2072,3202,3311,797  
Deferred income tax liabilities1,2072,3202,3311,797
Total noncurrent liabilities:1,2072,3202,3311,797  
Other undisclosed liabilities280,647285,799277,339259,247231,146240,879
Total liabilities:281,935288,199279,755261,137231,189240,918
Temporary equity, carrying amount262333256265391101
Equity
Equity, attributable to parent10,00216,06916,55914,61811,39012,849
Common stock555555
Treasury stock, value(10,587)(8,926)(7,989)(7,682)(7,401)(6,729)
Additional paid in capital10,74010,49510,32210,18310,0619,925
Accumulated other comprehensive income (loss)(7,199)1,6112,3831,038(1,565)166
Retained earnings17,04212,88511,83811,07410,2909,483
Equity, attributable to noncontrolling interest415658686673
Total equity:10,04316,12616,61714,68611,45612,922
TOTAL LIABILITIES AND EQUITY:292,240304,657296,628276,088243,036253,941

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

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues17,49214,26314,74216,22214,23714,093
Premiums earned, net5,3404,8426,0377,8676,410
Net investment income3,8304,4063,8913,9983,6293,459
Financial services revenue10,110
Cost of revenue(6,850)(7,471)(8,807)(10,025)(8,316)(7,947)
Policyholder benefits and claims incurred, net(6,371)(7,097)(8,282)(9,906)(8,193)
Financial services costs(7,823)
Gross profit:10,6426,7925,9356,1975,9216,146
Operating expenses  (209)(187)   
Operating income:10,6426,5835,7486,1975,9216,146
Nonoperating income (expense)
(Investment Income, Nonoperating)
  (259)243   
Interest and debt expense(1)(1)(1)(1)  
Income from continuing operations before income taxes:10,6406,3235,9906,1965,9216,146
Income tax expense (benefit)(1,208)(326)(265)(249)(231)72
Income from continuing operations:9,4335,9975,7255,9475,6906,218
Income before gain (loss) on sale of properties:5,9975,7255,9475,6906,218
Other undisclosed net loss(4,580)(4,240)(4,296)(4,503)(4,137)(3,894)
Net income:4,8521,7571,4291,4441,5542,325
Net loss attributable to noncontrolling interest(41)(47)(33)(50)(7)(14)
Net income available to common stockholders, diluted:4,8121,7111,3961,3941,5472,310

Comprehensive Income ($ in millions)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:4,8521,7571,4291,4441,5542,325
Other comprehensive income (loss)(8,941)(776)1,3472,607(1,836)844
Comprehensive income (loss):(4,089)9822,7764,051(282)3,169
Comprehensive loss, net of tax, attributable to noncontrolling interest(41)(43)(35)(54)(3)(18)
Comprehensive income (loss), net of tax, attributable to parent:(4,130)9382,7413,997(285)3,151

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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