Revenues from Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2019

Revenues from Contracts with Customers

Disaggregation of Revenues from Contracts with Customers (Table)

	For the year ended December 31,
	2019		2018		2017
	(in millions)
Revenue from contracts with customers by segment:
Retirement and Income Solutions:
Retirement and Income Solutions – Fee	$	455.5	$	252.4	$	258.0
Retirement and Income Solutions – Spread		9.3		10.5		10.2
Total Retirement and Income Solutions		464.8		262.9		268.2
Principal Global Investors		1,456.7		1,700.5		1,406.1
Principal International		462.2		477.1		426.4
U.S. Insurance Solutions:
Specialty Benefits insurance		14.9		14.8		13.9
Individual Life insurance		51.2		42.4		36.4
Eliminations		(0.2)		(0.2)		(0.2)
Total U.S. Insurance Solutions		65.9		57.0		50.1
Corporate		160.4		161.4		148.4
Total segment revenue from contracts with customers		2,610.0		2,658.9		2,299.2
Adjustments for fees and other revenues not within the scope of revenue recognition guidance (1)		1,791.4		1,614.4		1,593.4
Pre-tax other adjustments (2)		8.5		0.5		(0.3)
Total fees and other revenues per consolidated statements of operations	$	4,409.9	$	4,273.8	$	3,892.3

(1) Fees and other revenues not within the scope of the revenue recognition guidance primarily represent revenue on contracts accounted for under the financial instruments or insurance contracts standards.

(2) Pre-tax other adjustments relate to the recognition of deferred front-end fee revenues for sales charges on retirement and life insurance products and certain market value adjustments to fee revenues.

Retirement and Income Solutions | Retirement and Income Solutions - Fee

Revenues from Contracts with Customers

Disaggregation of Revenues from Contracts with Customers (Table)

	For the year ended December 31,
	2019		2018		2017
	(in millions)
Administrative service fee revenue (1)	$	453.7	$	250.7	$	256.4
Other fee revenue		1.8		1.7		1.6
Total revenues from contracts with customers		455.5		252.4		258.0
Fees and other revenues not within the scope of revenue recognition guidance		1,139.0		1,132.9		1,111.2
Total fees and other revenues		1,594.5		1,385.3		1,369.2
Premiums and other considerations		3.5		4.0		3.8
Net investment income		405.0		394.4		403.4
Total operating revenues	$	2,003.0	$	1,783.7	$	1,776.4

(1) Includes fee revenue for the Acquired Business in 2019.

Retirement and Income Solutions | Retirement and Income Solutions - Spread

Revenues from Contracts with Customers

Disaggregation of Revenues from Contracts with Customers (Table)

	For the year ended December 31,
	2019		2018		2017
	(in millions)
Deposit account fee revenue	$	9.3	$	10.5	$	10.2
Total revenues from contracts with customers		9.3		10.5		10.2
Fees and other revenues not within the scope of revenue recognition guidance		13.9		12.5		15.0
Total fees and other revenues		23.2		23.0		25.2
Premiums and other considerations		4,859.2		3,631.9		3,667.3
Net investment income		2,069.0		1,838.4		1,685.8
Total operating revenues	$	6,951.4	$	5,493.3	$	5,378.3

Principal Global Investors

Revenues from Contracts with Customers

Disaggregation of Revenues from Contracts with Customers (Table)

	For the year ended December 31,
	2019		2018		2017
	(in millions)
Management fee revenue	$	1,239.1	$	1,244.5	$	1,217.0
Other fee revenue (1)		217.6		456.0		189.1
Total revenues from contracts with customers		1,456.7		1,700.5		1,406.1
Fees and other revenues not within the scope of revenue recognition guidance		38.5		30.4		28.1
Total fees and other revenues		1,495.2		1,730.9		1,434.2
Net investment income		10.6		5.4		10.2
Total operating revenues	$	1,505.8	$	1,736.3	$	1,444.4

(1) During the third quarter of 2018, we recognized a $253.1 million accelerated performance fee resulting from the realignment of a real estate investment team.

Principal International

Revenues from Contracts with Customers

Disaggregation of Revenues from Contracts with Customers (Table)

	For the year ended December 31,
	2019		2018		2017
	(in millions)
Management fee revenue	$	459.3	$	472.1	$	414.6
Other fee revenue		2.9		5.0		11.8
Total revenues from contracts with customers		462.2		477.1		426.4
Fees and other revenues not within the scope of revenue recognition guidance		6.3		7.3		7.1
Total fees and other revenues		468.5		484.4		433.5
Premiums and other considerations		393.3		317.2		218.0
Net investment income		661.4		571.3		600.0
Total operating revenues	$	1,523.2	$	1,372.9	$	1,251.5
Revenues from contracts with customers by region:
Latin America	$	351.5	$	370.8	$	318.9
Asia		111.0		106.3		108.3
Principal International corporate / regional offices		0.9		0.9		0.7
Eliminations		(1.2)		(0.9)		(1.5)
Total revenues from contracts with customers	$	462.2	$	477.1	$	426.4

U.S. Insurance Solutions

Revenues from Contracts with Customers

Disaggregation of Revenues from Contracts with Customers (Table)

	For the year ended December 31,
	2019		2018		2017
	(in millions)
Specialty Benefits insurance:
Administrative service fees	$	14.9	$	14.8	$	13.9
Total revenues from contracts with customers		14.9		14.8		13.9
Fees and other revenues not within the scope of revenue recognition guidance		19.6		20.6		21.3
Total fees and other revenues		34.5		35.4		35.2
Premiums and other considerations		2,292.7		2,134.1		1,985.9
Net investment income		166.4		156.9		147.3
Total operating revenues	$	2,493.6	$	2,326.4	$	2,168.4
Individual Life insurance:
Administrative service fees	$	24.3	$	22.8	$	21.5
Commission income		26.9		19.6		14.9
Total revenues from contracts with customers		51.2		42.4		36.4
Fees and other revenues not within the scope of revenue recognition guidance		875.9		727.0		703.5
Total fees and other revenues		927.1		769.4		739.9
Premiums and other considerations		317.9		322.4		342.4
Net investment income		710.6		671.8		663.0
Total operating revenues	$	1,955.6	$	1,763.6	$	1,745.3

Corporate

Revenues from Contracts with Customers

Disaggregation of Revenues from Contracts with Customers (Table)

	For the year ended December 31,
	2019		2018		2017
	(in millions)
Commission income	$	320.2	$	316.1	$	299.7
Other fee revenue		46.1		35.4		30.1
Eliminations		(205.9)		(190.1)		(181.4)
Total revenues from contracts with customers		160.4		161.4		148.4
Fees and other revenues not within the scope of revenue recognition guidance		(301.8)		(316.3)		(292.8)
Total fees and other revenues		(141.4)		(154.9)		(144.4)
Net investment income		102.1		103.7		83.6
Total operating revenues	$	(39.3)	$	(51.2)	$	(60.8)