Principal Financial Group Inc (PFG) Financial Statements (2023 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)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments2,7545,3955,0715,4574,8074,5314,454
Cash and cash equivalents2,3322,8502,5162,9782,4712,7202,565
Short-term investments4222,5462,5552,4802,3371,8121,890
Total current assets:2,7545,3955,0715,4574,8074,5314,454
Noncurrent Assets
Finance lease, right-of-use asset945031
Operating lease, right-of-use asset211235190
Property, plant and equipment  968767760699634
Long-term investments and receivables 843830869821773633
Long-term investments 843830869821773633
Intangible assets, net (including goodwill)3,2283,4343,4812,4152,3842,3462,368
Goodwill1,6281,7111,6941,1001,0691,0211,009
Intangible assets, net (excluding goodwill)1,6011,7231,7871,3151,3151,3251,359
Deferred income tax assets85114124
Total noncurrent assets:3,6184,6755,6234,0513,9643,8183,635
Other undisclosed assets298,285286,558265,393233,528245,170219,665210,597
TOTAL ASSETS:304,657296,628276,088243,036253,941228,014218,686
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt808593434051181
Total current liabilities:808593434051181
Noncurrent Liabilities
Liabilities, other than long-term debt2,3202,3311,797    
Deferred income tax liabilities2,3202,3311,797
Total noncurrent liabilities:2,3202,3311,797    
Other undisclosed liabilities285,799277,339259,247231,146240,879217,572209,042
Total liabilities:288,199279,755261,137231,189240,918217,623209,223
Temporary equity, carrying amount3332562653911019886
Stockholders' equity
Stockholders' equity attributable to parent16,06916,55914,61811,39012,84910,2279,312
Common stock5555555
Treasury stock, value(8,926)(7,989)(7,682)(7,401)(6,729)(6,509)(6,231)
Additional paid in capital10,49510,32210,18310,0619,9259,6869,545
Accumulated other comprehensive income (loss)1,6112,3831,038(1,565)166(675)(883)
Retained earnings12,88511,83811,07410,2909,4837,7206,876
Stockholders' equity attributable to noncontrolling interest56586866736766
Total stockholders' equity:16,12616,61714,68611,45612,92210,2949,377
TOTAL LIABILITIES AND EQUITY:304,657296,628276,088243,036253,941228,014218,686

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues14,26314,74216,22214,23714,09312,39411,964
Premiums earned, net4,8426,0377,8676,410
Net investment income4,4063,8913,9983,6293,4593,2973,052
Financial services revenue10,1108,9278,963
Cost of revenue(7,471)(8,807)(10,025)(8,316)(7,947)(7,070)(6,861)
Policyholder benefits and claims incurred, net(7,097)(8,282)(9,906)(8,193)
Financial services costs(7,823)(6,913)(6,698)
Gross profit:6,7925,9356,1975,9216,1465,3245,103
Operating expenses(209)(187)     
Operating income:6,5835,7486,1975,9216,1465,3245,103
Nonoperating income (expense)
(Investment Income, Nonoperating)
(259)243     
Interest and debt expense(1)(1)(1)    
Income from continuing operations before income taxes:6,3235,9906,1965,9216,1465,3245,103
Income tax expense (benefit)(326)(265)(249)(231)72(230)(178)
Income before gain (loss) on sale of properties:5,9975,7255,9475,6906,2185,0944,926
Other undisclosed net loss(4,240)(4,296)(4,503)(4,137)(3,894)(3,733)(3,672)
Net income:1,7571,4291,4441,5542,3251,3621,253
Net loss attributable to noncontrolling interest(47)(33)(50)(7)(14)(45)(19)
Net income attributable to parent:1,7111,3961,3941,5472,3101,3171,234
Preferred stock dividends and other adjustments      (8)
Other undisclosed net loss available to common stockholders, basic      (17)
Net income available to common stockholders, diluted:1,7111,3961,3941,5472,3101,3171,209

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:1,7571,4291,4441,5542,3251,3621,253
Other comprehensive income (loss)(776)1,3472,607(1,836)844221(943)
Comprehensive income (loss):9822,7764,051(282)3,1691,583310
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(43)(35)(54)(3)(18)(50)1
Comprehensive income (loss), net of tax, attributable to parent:9382,7413,997(285)3,1511,533311

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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