Principal Financial Group Inc (PFG) financial statements (2020 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)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments5,0715,4574,8074,5314,4543,3092,372
Cash and cash equivalents2,5162,9782,4712,7202,5651,8642,372
Short-term investments2,5552,4802,3371,8121,8901,445 
Total current assets:5,0715,4574,8074,5314,4543,3092,372
Noncurrent Assets
Finance lease, right-of-use asset31
Operating lease, right-of-use asset190
Property, plant and equipment968767760699634590501
Long-term investments and receivables830869821773633816880
Long-term investments830869821773633816880
Intangible assets, net (including goodwill)3,4812,4152,3842,3462,3682,3312,559
Goodwill1,6941,1001,0691,0211,0091,0071,100
Intangible assets, net (excluding goodwill)1,7871,3151,3151,3251,3591,3241,459
Deferred income tax assets124
Total noncurrent assets:5,6234,0513,9643,8183,6353,7373,940
Other undisclosed assets265,393233,528245,170219,665210,597212,041201,880
TOTAL ASSETS:276,088243,036253,941228,014218,686219,087208,191
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt9343405118128151
Total current liabilities:9343405118128151
Noncurrent Liabilities
Liabilities, other than long-term debt1,797      
Deferred income tax liabilities1,797
Total noncurrent liabilities:1,797      
Other undisclosed liabilities259,247231,146240,879217,572209,042208,769198,017
Total liabilities:261,137231,189240,918217,623209,223208,797198,167
Temporary equity, carrying amount265391101988658247
Stockholders' equity
Stockholders' equity attributable to parent, including:14,61811,39012,84910,2279,31210,1849,684
Common stock5555555
Treasury stock, value(7,682)(7,401)(6,729)(6,509)(6,231)(5,931)(5,708)
Additional paid in capital10,18310,0619,9259,6869,5459,9469,799
Accumulated other comprehensive income (loss)1,038(1,565)166(675)(883)50183
Retained earnings11,07410,2909,4837,7206,8766,1145,405
Other undisclosed stockholders' equity attributable to parent     00
Stockholders' equity attributable to noncontrolling interest68667367664893
Total stockholders' equity:14,68611,45612,92210,2949,37710,2329,777
TOTAL LIABILITIES AND EQUITY:276,088243,036253,941228,014218,686219,087208,191

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues16,22214,23714,09312,39411,96410,4789,290
Premiums earned, net7,8676,410
Net investment income3,9983,6293,4593,2973,0523,2583,138
Financial services revenue10,1108,9278,9637,2056,376
Cost of revenue(10,025)(8,316)(7,947)(7,070)(6,861)(5,769)(4,684)
Policyholder benefits and claims incurred, net(9,906)(8,193)
Financial services costs(7,823)(6,913)(6,698)(5,224)(4,684)
Gross profit:6,1975,9216,1465,3245,1034,7094,606
Operating expenses     (160)(110)
Operating income:6,1975,9216,1465,3245,1034,5494,496
Nonoperating expense
(Investment Income, Nonoperating)
     (49)(99)
Interest and debt expense(1)      
Income from continuing operations before income taxes:6,1965,9216,1465,3245,1034,5004,397
Income tax expense (benefit)(249)(231)72(230)(178)(319)(188)
Income before gain (loss) on sale of properties:5,9475,6906,2185,0944,9264,1814,209
Other undisclosed net loss(4,503)(4,137)(3,894)(3,733)(3,672)(3,005)(3,273)
Net income:1,4441,5542,3251,3621,2531,176936
Net loss attributable to noncontrolling interest(50)(7)(14)(45)(19)(32)(23)
Net income attributable to parent:1,3941,5472,3101,3171,2341,144913
Preferred stock dividends and other adjustments    (8)(20) 
Other undisclosed net loss available to common stockholders, basic    (17)(13)(33)
Net income available to common stockholders, diluted:1,3941,5472,3101,3171,2091,111880

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income:1,4441,5542,3251,3621,2531,176936
Other comprehensive income (loss)2,607(1,836)844221(943)(144)(472)
Comprehensive income (loss):4,051(282)3,1691,5833101,032464
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(54)(3)(18)(50)1(21)9
Other undisclosed comprehensive loss, net of tax, attributable to parent      (17)
Comprehensive income (loss), net of tax, attributable to parent:3,997(285)3,1511,5333111,011456

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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