PRINCIPAL FINANCIAL GROUP INC

For the period ended Dec 31, 2024. Filed Feb 19, 2025.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 19, 2025

PFG$115.39+4.0%Stored close · as of Nov 9, 2026

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Contents

23. Earnings Per Common Share

Earnings Per Common Share

The computations of the basic and diluted per share amounts were as follows:


· · For the year ended December 31,
· 2024 · 2023 · 2022
· · (in millions, except per share data)
Net income	$1,597.9	$670.1	$4,797.5
Subtract:
Net income attributable to noncontrolling interest	26.9	46.9	40.6
Total	$1,571.0	$623.2	$4,756.9
Weighted-average shares outstanding:
Basic	232.0	241.3	251.1
Dilutive effects:
Stock options	0.8	0.9	1.5
Restricted stock units	2.0	2.0	2.2
Performance share awards	0.5	0.4	0.5
Diluted	235.3	244.6	255.3
Net income per common share:
Basic	$6.77	$2.58	$18.94
Diluted	$6.68	$2.55	$18.63

The calculation of diluted earnings per share for the years ended December 31, 2024, 2023 and 2022, excludes the incremental effect related to certain outstanding stock-based compensation grants due to their anti-dilutive effect. When a net loss is reported, our basic weighted-average shares are used to calculate diluted earnings per share, as dilutive shares would have an antidilutive effect and result in a lower loss per share.

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