Principal Financial Group Inc (PFG) financial statements (2021 and earlier)

Company profile

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

Balance sheet (Statement of financial position) ($ in millions)

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments5,3955,9805,5135,7435,0715,7785,898
Cash and cash equivalents2,8503,5573,1503,4832,5163,1983,316
Short-term investments2,5462,4232,3622,2602,5552,5802,582
Total current assets:5,3955,9805,5135,7435,0715,7785,898
Noncurrent Assets
Finance lease, right-of-use asset50   313333
Operating lease, right-of-use asset235   190190195
Property, plant and equipment  993974968962960
Long-term investments and receivables843730724729830845931
Long-term investments843730724729830845931
Intangible assets, net (including goodwill)3,4343,3593,3403,3333,4813,4922,412
Goodwill1,7111,6531,6311,6161,6941,6911,112
Intangible assets, net (excluding goodwill)1,7231,7061,7091,7171,7871,8021,301
Deferred income tax assets114   124  
Total noncurrent assets:4,6754,0885,0585,0355,6235,5234,531
Other undisclosed assets286,558268,417260,739236,126265,393258,937257,489
TOTAL ASSETS:296,628278,485271,309246,904276,088270,238267,918
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt857776106939677
Total current liabilities:857776106939677
Noncurrent Liabilities
Liabilities, other than long-term debt2,3312,1072,0621,4501,7971,9281,688
Deferred income tax liabilities2,3312,1072,0621,4501,7971,9281,688
Total noncurrent liabilities:2,3312,1072,0621,4501,7971,9281,688
Other undisclosed liabilities277,339260,302253,588232,136259,247252,972251,747
Total liabilities:279,755262,485255,726233,692261,137254,996253,512
Temporary equity, carrying amount256279273240265369305
Stockholders' equity
Stockholders' equity attributable to parent16,55915,65115,24312,90814,61814,80414,035
Common stock5555555
Treasury stock, value(7,989)(7,914)(7,913)(7,913)(7,682)(7,598)(7,554)
Additional paid in capital10,32210,29110,26010,21710,18310,16310,131
Accumulated other comprehensive income (loss)2,3831,7471,451(599)1,0381,307648
Retained earnings11,83811,52111,44111,19911,07410,92810,806
Stockholders' equity attributable to noncontrolling interest58706865686967
Total stockholders' equity:16,61715,72115,31112,97314,68614,87314,102
TOTAL LIABILITIES AND EQUITY:296,628278,485271,309246,904276,088270,238267,918

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

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
Revenues3,7653,3113,1154,5514,0474,4583,973
Premiums earned, net1,4091,1841,1532,2911,9352,2741,933
Net investment income1,0459189459841,0049971,037
Cost of revenue(2,401)(1,871)(1,633)(2,888)(2,453)(2,870)(2,476)
Policyholder benefits and claims incurred, net (1,840)(1,601)(2,859)(2,425)(2,840)(2,446)
Gross profit:1,3641,4401,4821,6641,5941,5881,497
Other undisclosed operating loss(187)      
Operating income:1,1771,4401,4821,6641,5941,5881,497
Nonoperating income
(Investment Income, Nonoperating)
4815     
Interest and debt expense    (0)(0)(0)
Other undisclosed loss from continuing operations before equity method investments, income taxes(1)      
Income from continuing operations before income taxes:1,2251,4551,4821,6641,5941,5881,496
Income tax expense(100)(39)(83)(43)(56)(61)(58)
Income before gain (loss) on sale of properties:1,1251,4151,3991,6211,5381,5271,438
Other undisclosed net loss(633)(1,180)(983)(1,336)(1,222)(1,242)(1,046)
Net income:492236416285315285392
Net income (loss) attributable to noncontrolling interest(19)0(18)4(14)(8)(6)
Net income available to common stockholders, diluted:473236398289301277386

Comprehensive Income ($ in millions)

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
Net income:492236416285315285392
Other comprehensive income (loss)6393062,048(1,646)(269)6561,072
Comprehensive income (loss):1,1305422,464(1,361)479411,464
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(22)(10)(16)13(15)(4)(12)
Comprehensive income (loss), net of tax, attributable to parent:1,1095322,448(1,348)329371,453

Statements sources

The financial statements are based on the company's filings with the 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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