PRINCIPAL FINANCIAL GROUP INC
For the period ended Dec 31, 2024. Filed Feb 19, 2025.
View on SEC.govAbout this filing
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$115.99+0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Financial Position
| | | | | | | | |
|---|---|---|---|---|---|---|---|
| · · December 31, · · December 31, · | |||||||
| · 2024 · 2023 · | |||||||
| · · (in millions, except share amounts) · | |||||||
| Assets | | | | | | | |
| Fixed maturities, available-for-sale (1) | | $68,251.0 | | $65,673.1 | | ||
| Fixed maturities, trading (2024 and 2023 include $205.9 million and $81.2 million related to consolidated variable interest entities) | | | 1,023.3 | | 836.2 | | |
| Equity securities (2024 and 2023 include $367.9 million and $394.4 million related to consolidated variable interest entities) | | | 2,295.0 | | 1,478.1 | | |
| Mortgage loans (2024 and 2023 include $944.5 million and $871.9 million related to consolidated variable interest entities and $140.6 million and $0.0 million measured at fair value under the fair value option) | | | 20,484.2 | | 20,142.8 | | |
| Real estate (2024 and 2023 include $781.8 million and $779.1 million related to consolidated variable interest entities) | | | 2,464.5 | | 2,345.3 | | |
| Policy loans | | | 867.5 | | 809.3 | | |
| Other investments (2024 and 2023 include $625.6 million and $596.4 million related to consolidated variable interest entities and $129.0 million and $163.2 million measured at fair value under the fair value option) | | | 7,990.3 | | 7,035.6 | | |
| Total investments | | | 103,375.8 | | 98,320.4 | | |
| Cash and cash equivalents (2024 and 2023 include $86.1 million and $83.6 million related to consolidated variable interest entities) | | | 4,211.9 | | 4,707.7 | | |
| Accrued investment income | | | 828.6 | | 786.2 | | |
| Reinsurance recoverable and deposit receivable | | | 19,490.1 | | | 20,611.7 | |
| Premiums due and other receivables | | | 3,771.5 | | 3,998.8 | | |
| Deferred acquisition costs | | | 4,006.9 | | 3,950.5 | | |
| Market risk benefit asset | | | 199.5 | | | 153.4 | |
| Property and equipment | | | 769.4 | | 938.4 | | |
| Goodwill | | | 1,549.7 | | 1,608.5 | | |
| Other intangibles | | | 1,389.9 | | 1,469.8 | | |
| Separate account assets (2024 and 2023 include $32,802.2 million and $34,688.3 million related to consolidated variable interest entities) | | | 173,327.1 | | 167,605.6 | | |
| Other assets | | | 743.2 | | 895.7 | | |
| Total assets | | $313,663.6 | | $305,046.7 | | ||
| Liabilities | | | | | | | |
| Contractholder funds | | $43,099.6 | | $41,501.1 | | ||
| Future policy benefits and claims | | | 48,179.4 | | 46,826.5 | | |
| Market risk benefit liability | | | 62.1 | | | 133.2 | |
| Other policyholder funds | | | 966.4 | | 916.8 | | |
| Short-term debt (2024 and 2023 include $119.0 million and $2.5 million related to consolidated variable interest entities) | | | 152.7 | | 61.1 | | |
| Long-term debt | | | 3,955.3 | | 3,930.9 | | |
| Income taxes currently payable | | | 8.6 | | 11.9 | | |
| Deferred income taxes | | | 1,706.0 | | 1,613.3 | | |
| Separate account liabilities (2024 and 2023 include $32,802.2 million and $34,688.3 million related to consolidated variable interest entities) | | | 173,327.1 | | 167,605.6 | | |
| Funds withheld payable | | | 18,103.7 | | | 19,629.5 | |
| Other liabilities (2024 and 2023 include $108.8 million and $87.7 million related to consolidated variable interest entities) | | | 12,633.7 | | 11,606.2 | | |
| Total liabilities | | | 302,194.6 | | 293,836.1 | | |
| | | | | | | | |
| Redeemable noncontrolling interest (2024 and 2023 include $309.9 million and $226.4 million related to consolidated variable interest entities) | | | 337.7 | | 248.9 | | |
| | | | | | | | |
| Stockholders’ equity | | | | | | | |
| Common stock, par value $0.01 per share; 2,500,000,000 shares authorized; 494,734,908 and 492,279,405 shares issued as of 2024 and 2023; 226,225,161 and 236,438,294 shares outstanding as of 2024 and 2023 | | | 4.9 | | 4.9 | | |
| Additional paid-in capital | | | 11,100.9 | | 10,908.6 | | |
| Retained earnings | | | 17,583.5 | | 16,683.5 | | |
| Accumulated other comprehensive loss | | | (5,224.8) | | (5,345.3) | | |
| Treasury stock, at cost; 268,509,747 and 255,841,111 shares as of 2024 and 2023 | | | (12,378.1) | | (11,335.7) | | |
| Total stockholders’ equity attributable to Principal Financial Group, Inc. | | | 11,086.4 | | 10,916.0 | | |
| Noncontrolling interest | | | 44.9 | | 45.7 | | |
| Total stockholders’ equity | | | 11,131.3 | | 10,961.7 | | |
| Total liabilities and stockholders’ equity | | $313,663.6 | | $305,046.7 | | ||
| (1) | See Note 4, Investments, for further details relating to the amortized cost of fixed maturities, available-for-sale. |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.