PRINCIPAL FINANCIAL GROUP INC
For the period ended Dec 31, 2025. Filed Feb 18, 2026.
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FY2025 · Filed Feb 18, 2026
PFG$115.39+4.0%Stored close · as of Nov 9, 2026
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Consolidated Statements of Operations
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|---|---|---|---|---|---|---|---|---|---|---|
| · · For the year ended December 31, · | ||||||||||
| · · 2025 · · 2024 · · 2023 · | ||||||||||
| · · (in millions, except per share data) · | ||||||||||
| Revenues | | | | | | | | | | |
| Premiums and other considerations | | $6,780.4 | | $6,850.2 | | $6,470.9 | | |||
| Fees and other revenues | | | 4,424.8 | | | 4,320.5 | | | 4,095.9 | |
| Net investment income | | | 4,730.5 | | | 4,449.2 | | | 4,091.9 | |
| Net realized capital gains (losses) (1) | | | 27.7 | | | (27.3) | | | (72.2) | |
| Net realized capital gains on funds withheld assets (1) | | | 43.2 | | | 87.7 | | | 165.0 | |
| Change in fair value of funds withheld embedded derivative | | | (381.1) | | | 447.4 | | | (1,085.7) | |
| Total revenues | | | 15,625.5 | | | 16,127.7 | | | 13,665.8 | |
| Expenses | | | | | | | | | | |
| Benefits, claims and settlement expenses | | | 8,564.5 | | | 8,072.6 | | | 7,788.2 | |
| Liability for future policy benefits remeasurement (gain) loss | | | 56.4 | | | 671.4 | | | (51.6) | |
| Market risk benefit remeasurement loss | | | 63.1 | | | 30.3 | | | 29.1 | |
| Dividends to policyholders | | | 91.7 | | | 99.9 | | | 89.2 | |
| Operating expenses | | | 5,433.8 | | | 5,363.9 | | | 5,072.1 | |
| Total expenses | | | 14,209.5 | | | 14,238.1 | | | 12,927.0 | |
| Income before income taxes | | | 1,416.0 | | | 1,889.6 | | | 738.8 | |
| Income taxes | | | 160.5 | | | 291.7 | | | 68.7 | |
| Net income | | | 1,255.5 | | | 1,597.9 | | | 670.1 | |
| Net income attributable to noncontrolling interest | | | 70.4 | | | 26.9 | | | 46.9 | |
| Net income attributable to Principal Financial Group, Inc. | | $1,185.1 | | $1,571.0 | | $623.2 | | |||
| | | | | | | | | | | |
| Earnings per common share | | | | | | | | | | |
| Basic earnings per common share | | $5.32 | | $6.77 | | $2.58 | | |||
| | | | | | | | | | | |
| Diluted earnings per common share | | $5.25 | | $6.68 | | $2.55 | | |||
| (1) | Includes realized and unrealized gains (losses). See Note 4, Investments, for further details. |
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