Principal Financial (PFG) 10-K 13 Feb 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2018	Jan. 30, 2019	Jun. 29, 2018
Document and Entity Information
Entity Registrant Name	PRINCIPAL FINANCIAL GROUP INC
Entity Central Index Key	1,126,328
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 15.1
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		278,313,686
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Assets
Fixed maturities, available-for-sale (2018 and 2017 include $94.5 million and $268.0 million related to consolidated variable interest entities)	$ 60,108.5	$ 59,388.4
Fixed maturities, trading	636.1	566
Equity securities (2018 and 2017 include $774.8 million and $811.4 million related to consolidated variable interest entities)	1,843.7	1,866.6
Mortgage loans	15,336.9	14,150.5
Real estate (2018 and 2017 include $364.0 million and $370.3 million related to consolidated variable interest entities)	1,729.7	1,736.7
Policy loans	801.4	808.3
Other investments (2018 and 2017 include $457.9 million and $139.8 million related to consolidated variable interest entities and $23.6 million and $61.0 million measured at fair value under the fair value option)	4,310.3	3,586.2
Total investments	84,766.6	82,102.7
Cash and cash equivalents	2,977.5	2,470.8
Accrued investment income	636.2	610.6
Premiums due and other receivables	1,413.1	1,469.8
Deferred acquisition costs	3,693.5	3,540.7
Property and equipment	767.3	759.5
Goodwill	1,100	1,068.8
Other intangibles	1,315.1	1,314.7
Separate account assets (2018 and 2017 include $37,183.3 million and $41,540.8 million related to consolidated variable interest entities)	144,987.9	159,272.7
Other assets	1,378.9	1,330.9
Total assets	243,036.1	253,941.2
Liabilities
Contractholder funds (2018 and 2017 include $396.0 million and $380.6 million related to consolidated variable interest entities)	39,699.7	38,082.5
Future policy benefits and claims	35,664.8	33,019.3
Other policyholder funds	888.4	922.3
Short-term debt	42.9	39.5
Long-term debt (2018 and 2017 include $58.4 million and $2.8 million related to consolidated variable interest entities)	3,259.6	3,178.4
Income taxes currently payable	25.3	16.7
Deferred income taxes	958.4	1,092.5
Separate account liabilities (2018 and 2017 include $37,183.3 million and $41,540.8 million related to consolidated variable interest entities)	144,987.9	159,272.7
Other liabilities (2018 and 2017 include $104.9 million and $270.2 million related to consolidated variable interest entities)	5,661.9	5,294.1
Total liabilities	231,188.9	240,918
Redeemable noncontrolling interest (2018 and 2017 include $325.7 million and $52.4 million related to consolidated variable interest entities)	391.2	101.3
Stockholders' equity
Common stock, par value $.01 per share - 2,500.0 million shares authorized, 476.7 million and 474.1 million shares issued, and 279.5 million and 289.0 million shares outstanding in 2018 and 2017	4.8	4.7
Additional paid-in capital	10,060.7	9,925.2
Retained earnings (accumulated deficit)	10,290.2	9,482.9
Accumulated other comprehensive income (loss)	(1,565.1)	165.5
Treasury stock, at cost (197.2 million and 185.1 million shares in 2018 and 2017)	(7,400.6)	(6,729)
Total stockholders' equity attributable to Principal Financial Group, Inc.	11,390	12,849.3
Noncontrolling interest	66	72.6
Total stockholders' equity	11,456	12,921.9
Total liabilities and stockholders' equity	$ 243,036.1	$ 253,941.2

Consolidated Statements of Fi_2

Consolidated Statements of Financial Position (Parenthetical) - USD ($) shares in Millions, $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Fixed maturities, available-for-sale	$ 60,108.5	$ 59,388.4
Equity securities	1,843.7	1,866.6
Real estate	1,729.7	1,736.7
Other investments	4,310.3	3,586.2
Other investments measured at fair value under fair value option	23.6	61
Separate account assets	144,987.9	159,272.7
Contractholder funds	39,699.7	38,082.5
Long-term debt	3,259.6	3,178.4
Separate account liabilities	144,987.9	159,272.7
Other liabilities	5,661.9	5,294.1
Redeemable noncontrolling interest	$ 391.2	$ 101.3
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	2,500	2,500
Common stock, issued (in shares)	476.7	474.1
Common stock, outstanding (in shares)	279.5	289
Treasury stock (in shares)	197.2	185.1
Aggregate consolidated variable interest entities
Fixed maturities, available-for-sale	$ 94.5	$ 268
Equity securities	774.8	811.4
Real estate	364	370.3
Other investments	457.9	139.8
Separate account assets	37,183.3	41,540.8
Contractholder funds	396	380.6
Long-term debt	58.4	2.8
Separate account liabilities	37,183.3	41,540.8
Other liabilities	104.9	270.2
Redeemable noncontrolling interest	$ 325.7	$ 52.4

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues
Premiums and other considerations									$ 6,409.6	$ 6,217.4	$ 5,299.1
Fees and other revenues									4,273.8	3,892.3	3,627.4
Net investment income (loss)									3,629.2	3,459.3	3,296.5
Net realized capital gains (losses), excluding impairment losses on available-for-sale securities									(46.3)	606	269.5
Net other-than-temporary impairment (losses) recoveries on available-for-sale securities									10.6	(28.7)	(98.8)
Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified to (from) other comprehensive income									(39.7)	(53.1)	0.4
Net impairment (losses) recoveries on available-for-sale securities									(29.1)
Net impairment (losses) recoveries on available-for-sale securities										(81.8)	(98.4)
Net realized capital gains (losses)									(75.4)	524.2	171.1
Total revenues	$ 3,770.6	$ 4,348.1	$ 3,234.9	$ 2,883.6	$ 3,237.7	$ 4,627.8	$ 3,178.3	$ 3,049.4	14,237.2	14,093.2	12,394.1
Expenses
Benefits, claims and settlement expenses									8,192.5	7,822.6	6,913.2
Dividends to policyholders									123.6	124.6	156.6
Operating expenses									4,136.7	3,893.8	3,732.6
Total expenses	3,527.7	3,779	2,719.5	2,426.6	2,922.9	3,470	2,812.7	2,635.4	12,452.8	11,841	10,802.4
Income (loss) before income taxes									1,784.4	2,252.2	1,591.7
Income taxes (benefits)									230.7	(72.3)	229.9
Net income (loss)	231.7	460	459.5	402.5	842.9	813.2	314.8	353.6	1,553.7	2,324.5	1,361.8
Net income (loss) attributable to noncontrolling interest									7.2	14.1	45.3
Net income (loss) attributable to Principal Financial Group, Inc.	$ 236.5	$ 456.3	$ 456.6	$ 397.1	$ 841.8	$ 810.2	$ 309.5	$ 348.9	$ 1,546.5	$ 2,310.4	$ 1,316.5
Earnings per common share
Basic earnings per common share (in dollars per share)	$ 0.84	$ 1.60	$ 1.59	$ 1.37	$ 2.91	$ 2.80	$ 1.07	$ 1.21	$ 5.41	$ 8	$ 4.55
Diluted earnings per common share (in dollars per share)	$ 0.83	$ 1.59	$ 1.58	$ 1.36	$ 2.87	$ 2.76	$ 1.06	$ 1.19	$ 5.36	$ 7.88	$ 4.50

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Consolidated Statements of Comprehensive Income
Net income (loss)	$ 1,553.7	$ 2,324.5	$ 1,361.8
Other comprehensive income (loss), net:
Net unrealized gains (losses) on available-for-sale securities	(1,529.6)	639.5	99.1
Noncredit component of impairment losses on fixed maturities, available-for-sale	26.4	31.2	(3.5)
Net unrealized gains (losses) on derivative instruments	16	(42.6)	15.5
Foreign currency translation adjustment	(287.6)	178.9	68.1
Net unrecognized postretirement benefit obligation	(60.9)	37.3	41.8
Other comprehensive income (loss)	(1,835.7)	844.3	221
Comprehensive income (loss)	(282)	3,168.8	1,582.8
Comprehensive income (loss) attributable to noncontrolling interest	2.7	17.7	49.7
Comprehensive income (loss) attributable to Principal Financial Group, Inc.	$ (284.7)	$ 3,151.1	$ 1,533.1

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Millions		Common stock	Additional paid-in capital	Retained earnings (accumulated deficit)	Accumulated other comprehensive income (loss)	Treasury stock	Noncontrolling interest	Total
Balances at Dec. 31, 2015		$ 4.7	$ 9,544.8	$ 6,875.9	$ (882.5)	$ (6,231.3)	$ 65.8	$ 9,377.4
Increase (decrease) in stockholders' equity
Common stock issued			37.8					37.8
Stock-based compensation and additional related tax benefits			92.5	(7.1)			0.4	85.8
Treasury stock acquired, common						(277.3)		(277.3)
Dividends to common stockholders				(464.9)				(464.9)
Distributions to noncontrolling interest							(34.8)	(34.8)
Contributions from noncontrolling interest							5.5	5.5
Purchase of subsidiary shares from noncontrolling interest	[1]		15.1		(9.3)			5.8
Adjustments to redemption amount of redeemable noncontrolling interest			(4.2)					(4.2)
Net income (loss)	[1]			1,316.5			28.5	1,345
Other comprehensive income (loss)	[1]				216.6		1.1	217.7
Balances at Dec. 31, 2016		4.7	9,686	7,720.4	(675.2)	(6,508.6)	66.5	10,293.8
Increase (decrease) in stockholders' equity
Common stock issued			162.5					162.5
Stock-based compensation			90.2	(7.9)			0.4	82.7
Treasury stock acquired, common						(220.4)		(220.4)
Dividends to common stockholders				(540)				(540)
Distributions to noncontrolling interest							(8.4)	(8.4)
Contributions from noncontrolling interest							6	6
Purchase of subsidiary shares from noncontrolling interest	[1]		(7.6)				(1.3)	(8.9)
Adjustments to redemption amount of redeemable noncontrolling interest			(5.9)					(5.9)
Net income (loss)	[1]			2,310.4			7.1	2,317.5
Other comprehensive income (loss)	[1]				840.7		2.3	843
Balances at Dec. 31, 2017		4.7	9,925.2	9,482.9	165.5	(6,729)	72.6	12,921.9
Increase (decrease) in stockholders' equity
Common stock issued		0.1	63.9					64
Stock-based compensation			84.9	(7.7)			(0.4)	76.8
Treasury stock acquired, common						(671.6)		(671.6)
Dividends to common stockholders				(598.6)				(598.6)
Distributions to noncontrolling interest							(13.5)	(13.5)
Contributions from noncontrolling interest							3.3	3.3
Purchase of subsidiary shares from noncontrolling interest	[1]		(20.6)		(1.6)		(1.8)	(24)
Adjustments to redemption amount of redeemable noncontrolling interest			7.3				(0.3)	7
Effects of implementation of accounting change | ASU 2016-16 - Intra-entity asset transfer taxes				8.7				8.7
Effects of implementation of accounting change | ASU 2016-01 - Equity investments				1	(1)
Effects of implementation of accounting change | ASU 2014-09 - Revenue recognition				(65)	25.6		(0.3)	(39.7)
Effects of implementation of accounting change | ASU 2018-02 - Reclassification of certain tax effects				(77.6)	77.6
Net income (loss)	[1]			1,546.5			9.3	1,555.8
Other comprehensive income (loss)	[1]				(1,831.2)		(2.9)	(1,834.1)
Balances at Dec. 31, 2018		$ 4.8	$ 10,060.7	$ 10,290.2	$ (1,565.1)	$ (7,400.6)	$ 66	$ 11,456
[1]	Excludes amounts attributable to redeemable noncontrolling interest. See Note 13, Stockholders’ Equity, for further details.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating activities
Net income (loss)	$ 1,553.7	$ 2,324.5	$ 1,361.8
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Net realized capital (gains) losses	75.4	(524.2)	(171.1)
Depreciation and amortization expense	205.1	195.7	186.6
Amortization of deferred acquisition costs and contract costs	277.3	234.6	285.1
Additions to deferred acquisition costs and contract costs	(443.4)	(421.8)	(402.3)
Stock-based compensation	77.4	82.7	84.4
(Income) loss from equity method investments, net of dividends received	(76)	(68.2)	(0.6)
Changes in:
Accrued investment income	(28.7)	(30)	(35)
Net cash flows for trading securities and equity securities with operating intent	(133.7)	(332.2)	166.5
Premiums due and other receivables	37.8	(114.2)	98.7
Contractholder and policyholder liabilities and dividends	3,610.2	3,296.8	2,140.3
Current and deferred income taxes (benefits)	274.7	(164.4)	45.8
Real estate acquired through operating activities	(89.2)	(82.6)	(58.2)
Real estate sold through operating activities	133.6	1.4	229
Other assets and liabilities	(282)	(227.1)	(1.1)
Other	(35.7)	17	(72.1)
Net adjustments	3,602.8	1,863.5	2,496
Net cash provided by (used in) operating activities	5,156.5	4,188	3,857.8
Investing activities
Fixed maturities available-for-sale and equity securities with intent to hold: Purchases	(13,909.8)	(13,371.6)	(13,763.8)
Fixed maturities available-for-sale and equity securities with intent to hold: Sales	3,813.1	1,413.6	1,890.5
Fixed maturities available-for-sale and equity securities with intent to hold: Maturities	6,217.6	8,743.2	7,742.8
Mortgage loans acquired or originated	(3,447.5)	(2,755.8)	(2,889)
Mortgage loans sold or repaid	2,228.4	1,872	2,068.7
Real estate acquired	(88.1)	(200.5)	(109.7)
Real estate sold	63.5	481.9	35.5
Net (purchases) sales of property and equipment	(92.3)	(164.8)	(154.9)
Purchase of interests in subsidiaries, net of cash acquired	(184.7)
Net change in other investments	(302.7)	(70.8)	26
Net cash provided by (used in) investing activities	(5,702.5)	(4,052.8)	(5,153.9)
Financing activities
Issuance of common stock	64	162.5	37.8
Acquisition of treasury stock	(671.6)	(220.4)	(277.3)
Proceeds from financing element derivatives		0.1	0.4
Payments for financing element derivatives	(65.9)	(77.6)	(87.7)
Excess tax benefits from share-based payment arrangements			12
Purchase of subsidiary shares from noncontrolling interest	(31.1)	(13.3)	(2.4)
Dividends to common stockholders	(598.6)	(540)	(464.9)
Issuance of long-term debt	80.8	2.8	656.1
Principal repayments of long-term debt	(1.3)	(56.5)	(799.3)
Net proceeds from (repayments of) short-term borrowings	8.5	(15.5)	(131.4)
Investment contract deposits	8,308.8	10,154.4	10,770.9
Investment contract withdrawals	(6,589.6)	(9,914.6)	(8,392.7)
Net increase (decrease) in banking operation deposits	553	136.6	129
Other	(4.3)	(2.5)	0.4
Net cash provided by (used in) financing activities	1,052.7	(384)	1,450.9
Net increase (decrease) in cash and cash equivalents	506.7	(248.8)	154.8
Cash and cash equivalents at beginning of period	2,470.8	2,719.6	2,564.8
Cash and cash equivalents at end of period	2,977.5	2,470.8	2,719.6
Supplemental information:
Cash paid for interest	150.2	148.6	162
Cash paid for income taxes	$ 96.2	79.3	178.8
Supplemental disclosure of non-cash activities:
Assets received in kind for pension risk transfer transactions			$ 594.3
Asset and liability changes resulting from exchange agreement to exit real estate joint ventures:
Real estate properties received		743.2
Long-term debt assumed on real estate properties received		269
Increase in other investments due to discontinuing equity method accounting		$ 222.4

Nature of Operations and Signif

Nature of Operations and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Nature of Operations and Significant Accounting Policies
Nature of Operations and Significant Accounting Policies	1. Nature of Operations and Significant Accounting Policies Description of Business Principal Financial Group, Inc. (“PFG”) is a leader in global investment management offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement, asset management and insurance through our diverse family of financial services companies. Basis of Presentation The accompanying consolidated financial statements include the accounts of PFG and all other entities in which we directly or indirectly have a controlling financial interest as well as those variable interest entities (“VIEs”) in which we are the primary beneficiary. The consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”). All significant intercompany accounts and transactions have been eliminated. Consolidation We have relationships with various special purpose entities and other legal entities that must be evaluated to determine if the entities meet the criteria of a VIE or a voting interest entity (“VOE”). This assessment is performed by reviewing contractual, ownership and other rights, including involvement of related parties, and requires use of judgment. First, we determine if we hold a variable interest in an entity by assessing if we have the right to receive expected losses and expected residual returns of the entity. If we hold a variable interest, then the entity is assessed to determine if it is a VIE. An entity is a VIE if the equity at risk is not sufficient to support its activities, if the equity holders lack a controlling financial interest or if the entity is structured with non-substantive voting rights. In addition to the previous criteria, if the entity is a limited partnership or similar entity, it is a VIE if the limited partners do not have the power to direct the entity’s most significant activities through substantive kick-out rights or participating rights. A VIE is evaluated to determine the primary beneficiary. The primary beneficiary of a VIE is the enterprise with (1) the power to direct the activities of a VIE that most significantly impact the entity's economic performance and (2) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. When we are the primary beneficiary, we are required to consolidate the entity in our financial statements. We reassess our involvement with VIEs on a quarterly basis. For further information about VIEs, refer to Note 3, Variable Interest Entities. If an entity is not a VIE, it is considered a VOE. VOEs are generally consolidated if we own a greater than 50% voting interest. If we determine our involvement in an entity no longer meets the requirements for consolidation under either the VIE or VOE models, the entity is deconsolidated. Entities in which we have management influence over the operating and financing decisions but are not required to consolidate, other than investments accounted for at fair value under the fair value option, are reported using the equity method. Recent Accounting Pronouncements Description Date of Effect on our consolidated Standards not yet adopted: Targeted improvements to the accounting for long-duration insurance contracts This authoritative guidance updates certain requirements in the accounting for long-duration insurance and annuity contracts. 1. 2. 3. 4. The guidance for the liability for future policy benefits for traditional and limited-payment contracts and DAC will be applied on a modified retrospective basis; that is, to contracts in force as of the beginning of the earliest period presented based on their existing carrying amounts. An entity may elect to apply the changes retrospectively. The guidance for market risk benefits will be applied retrospectively. Early adoption is permitted. January 1, 2021 Our implementation and evaluation process to date includes, but is not limited to, identifying and documenting contracts and contract features in scope of the guidance; identifying the actuarial models, systems and processes to be updated; and evaluating our systems solutions for implementing the new guidance. As we progress through our implementation, we will be able to better assess the impact to our consolidated financial statements; however, we expect this guidance to significantly change how we account for many of our insurance and annuity products. Goodwill impairment testing This authoritative guidance simplifies how an entity is required to test goodwill for impairment by eliminating Step 2 (which measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill to the carrying amount of that goodwill) from the goodwill impairment test. A goodwill impairment loss will be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. Entities will continue to have the option to perform a qualitative assessment to determine if a quantitative impairment test is necessary. Early adoption is permitted . January 1, 2020 We are currently evaluating the impact this guidance will have on our consolidated financial statements, but do not expect it to have a material impact on our consolidated financial statements. We expect the guidance will reduce complexity and costs associated with performing a Step 2 test, should one be needed in the future. However, the impact on the outcome of any such future impairment assessment will be dependent on modeling factors that are not currently determinable. Credit losses This authoritative guidance requires entities to use a current expected credit loss (“CECL”) model to measure impairment for most financial assets that are not recorded at fair value through net income. Under the CECL model, an entity will estimate lifetime expected credit losses considering available relevant information about historical events, current conditions and reasonable and supportable forecasts. The CECL model does not apply to available-for-sale debt securities. This guidance also expands the required credit loss disclosures and will be applied using a modified retrospective approach by recording a cumulative effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. Early adoption is permitted. January 1, 2020 Our implementation and evaluation process to date includes, but is not limited to, identifying financial assets within scope of the guidance and developing CECL models for the relevant assets. We believe estimated credit losses under the CECL model will generally result in earlier loss recognition for loans and other receivables. Leases This authoritative guidance requires lessee recognition of lease assets and lease liabilities on the balance sheet. The concept of an operating lease, where the lease assets and liabilities are off balance sheet, is eliminated under the new guidance. For lessors, the guidance modifies lease classification criteria and accounting for certain types of leases. Other key aspects of the guidance relate to the removal of the current real estate-specific guidance and new presentation and disclosure requirements. Lessees and lessors are required to recognize and measure leases using a modified retrospective approach, which includes certain optional practical expedients that may be elected. We elected the alternative transition method, which allows entities to initially apply the new standard at the adoption date and recognize a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption . January 1, 2019 Our evaluation process includes, but is not limited to, identifying leases that are within the scope of the guidance, reviewing and documenting our accounting for these contracts, implementing system and process changes and determining disclosure impacts. The guidance requires us to establish a lease asset and liability for our operating leases. The guidance will be applied at the beginning of the period of adoption and comparative periods will not be restated. Assets and liabilities will increase approximately $165.0 million and $161.0 million, respectively, due to the adoption of this guidance. The impact to total stockholders' equity will not be material. Implementation costs in a cloud computing arrangement that is a service contract This authoritative guidance aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. This guidance can be applied either retrospectively or prospectively and early adoption is permitted. January 1, 2019 The effective date of the guidance is January 1, 2020; however, we have elected to early-adopt this guidance on a prospective basis, effective January 1, 2019. This guidance will not have a material impact on our consolidated financial statements. Targeted improvements to accounting for hedging activities This authoritative guidance updates certain recognition and measurement requirements for hedge accounting. The objective of the guidance is to more closely align the economics of a company’s risk management activities in its financial results and reduce the complexity of applying hedge accounting. The updates include the expansion of hedging strategies that are eligible for hedge accounting, elimination of the separate measurement and reporting of hedge ineffectiveness, presentation of the changes in the fair value of the hedging instrument in the same consolidated statement of operations line as the earnings effect of the hedged item and simplification of hedge effectiveness assessments. This guidance also includes new disclosures and will be applied using a modified retrospective approach by recording a cumulative effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. January 1, 2019 This guidance will not have a material impact on our consolidated financial statements. Premium amortization on purchased callable debt securities This authoritative guidance applies to entities that hold certain non-contingently callable debt securities, where the amortized cost basis is at a premium to the price repayable by the issuer at the earliest call date. Under the guidance the premium will be amortized to the first call date. This guidance requires adoption through a cumulative effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. January 1, 2019 This guidance will not have a material impact on our consolidated financial statements. Nonemployee share-based payment accounting This authoritative guidance simplifies the accounting for share-based payments to nonemployees by generally aligning it with the accounting for share-based payments to employees. Under the guidance, the measurement of equity-classified nonemployee awards will be fixed at the grant date, where today the measurement is fixed at performance completion date. The guidance will be applied to equity-classified nonemployee awards for which a measurement date has not been established as of the date of adoption. January 1, 2019 This guidance will not have a material impact on our consolidated financial statements. Reclassification of certain tax effects from accumulated other comprehensive income This authoritative guidance permits a reclassification from accumulated other comprehensive income (“AOCI”) to retained earnings for the stranded tax effects resulting from U.S. tax legislation enacted on December 22, 2017, which is referred to as the ‘‘Tax Cuts and Jobs Act’’ (‘‘U.S. tax reform’’). The amount of that reclassification includes the change in corporate income tax rate, as well as an election to include other income tax effects related to the application of U.S. tax reform. The guidance also requires disclosures about stranded tax effects. January 1, 2018 The effective date of the guidance was January 1, 2019; however, we elected to early adopt the guidance. The guidance was applied at the beginning of the period of adoption and comparative periods were not restated. We reclassified the stranded tax effects in AOCI resulting from U.S. tax reform, which includes the change in corporate income tax rate and an election to reclassify the tax effects of the one-time deemed repatriation tax. A reclassification of $77.6 million was recorded as an increase to AOCI and a decrease to retained earnings. Revenue recognition This authoritative guidance replaces all general and most industry specific revenue recognition guidance currently prescribed by U.S. GAAP. The core principle is that an entity recognizes revenue to reflect the transfer of a promised good or service to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for that good or service. This guidance also provides clarification on when an entity is a principal or an agent in a transaction. In addition, the guidance updates the accounting for certain costs associated with obtaining and fulfilling a customer contract. The guidance may be applied using one of the following two methods: (1) retrospectively to each prior reporting period presented, or (2) retrospectively with the cumulative effect of initially applying the standard recognized at the date of initial application. January 1, 2018 We adopted the guidance using the modified retrospective approach. The guidance did not have a material impact on our consolidated financial statements. Further details are included under the caption “Adoption of Revenue Recognition Guidance” and in Note 17, Revenues from Contracts with Customers. Income tax - intra-entity transfers of assets This authoritative guidance requires entities to recognize current and deferred income tax resulting from an intra-entity asset transfer when the transfer occurs. Prior to issuance of this guidance, U.S. GAAP did not allow recognition of income tax consequences until the asset had been sold to a third party. This guidance requires adoption through a cumulative effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. January 1, 2018 We adopted the guidance using the modified retrospective approach. A cumulative effect adjustment of $8.7 million was recorded as an increase to retained earnings. In addition, other assets and deferred income taxes decreased $21.1 million and $29.8 million, respectively, due to the adoption of this guidance. Financial instruments - recognition and measurement This authoritative guidance addresses certain aspects of recognition, measurement, presentation and disclosure of financial instruments. The guidance eliminated the classification of equity securities into different categories (trading or available-for-sale) and requires equity investments to be measured at fair value with changes in the fair value recognized through net income. The guidance also updated certain financial instrument disclosures and eliminated the requirement to disclose the methods and significant assumptions used to estimate the fair value of financial instruments that are measured at amortized cost on the balance sheet. January 1, 2018 We adopted this guidance using the modified retrospective approach. A cumulative effect adjustment of $1.0 million was recorded as a decrease to AOCI and a corresponding increase to retained earnings. The guidance did not have a material impact on our consolidated financial statements. As of December 31, 2017, we had $96.0 million of equity securities classified as available-for-sale and $1,770.6 million classified as trading. The consolidated statements of financial position have been updated to eliminate these classifications and present only equity securities. See Note 4, Investments, for further details. Nonfinancial asset derecognition and partial sales of nonfinancial assets This authoritative guidance clarifies the scope of the recently established guidance on nonfinancial asset derecognition and the accounting for partial sales of nonfinancial assets. The guidance conforms the derecognition guidance on nonfinancial assets with the model for transactions in the new revenue recognition standard. January 1, 2018 The guidance did not have a material impact on our consolidated financial statements. Presentation of net periodic pension cost and net periodic postretirement benefit cost This authoritative guidance requires that an employer disaggregate the service cost component from the other components of net benefit cost. The guidance also provides explicit guidance on the presentation of the service cost component and the other components of net benefit cost in the consolidated statement of operations and allows only the service cost component of net benefit cost to be eligible for capitalization. January 1, 2018 The guidance did not have a material impact on our consolidated financial statements. Definition of a business This authoritative guidance clarifies the definition of a business to assist with evaluating when transactions involving an integrated set of assets and activities (a “set”) should be accounted for as acquisitions or disposals of assets or businesses. The guidance requires that when substantially all of the fair value of the gross assets acquired or disposed of is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. The guidance also requires a set to include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create output to be considered a business. Lastly, the guidance removes the evaluation of whether a market participant could replace missing elements and narrows the definition of outputs by more closely aligning it with how outputs are described in the revenue recognition guidance. The guidance will be applied prospectively. January 1, 2018 The guidance did not have a material impact on our consolidated financial statements. Employee share-based payment accounting This authoritative guidance changes certain aspects of accounting for and reporting share-based payments to employees including changes related to the income tax effects of share-based payments, tax withholding requirements and accounting for forfeitures. Various transition methods will apply depending on the situation being addressed. January 1, 2017 The guidance was adopted prospectively as indicated by the guidance for each area of change and did not have a material impact on our consolidated financial statements. Short-duration insurance contracts This authoritative guidance requires additional disclosures related to short-duration insurance contracts. December 31, 2016 The disclosure requirements of this guidance were adopted retrospectively. See Note 8, Insurance Liabilities, for further details. Net asset value per share as a practical expedient for fair value This authoritative guidance removes the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share practical expedient. January 1, 2016 The guidance was adopted retrospectively and did not have a material impact on our consolidated financial statements. See Note 14, Fair Value Measurements, for further details. Simplifying the presentation of debt issuance costs This authoritative guidance requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts . January 1, 2016 The guidance was adopted retrospectively and did not have a material impact on our consolidated financial statements. Consolidations This authoritative guidance makes changes to both the variable interest and voting interest consolidation models and eliminates the investment company deferral for portions of the variable interest model. The amendments in the standard impact the consolidation analysis for interests in investment companies and limited partnerships and similar entities. January 1, 2016 The guidance was adopted using the modified retrospective approach. See Note 3, Variable Interest Entities, for further details. When we adopt new accounting standards, we have a process in place to perform a thorough review of the pronouncement, identify the financial statement and system impacts and create an implementation plan among our impacted business units to ensure we are compliant with the pronouncement on the date of adoption. This includes having effective processes and controls in place to support the reported amounts. Each of the standards listed above is in varying stages in our implementation process based on its issuance and adoption dates. We are on track to implement guidance by the respective effective dates. Adoption of Revenue Recognition Guidance On January 1, 2018, we adopted the guidance using the modified retrospective approach. A cumulative effect adjustment of $39.7 million was recorded as a decrease to total stockholders’ equity. The impact of the guidance to our consolidated financial statements primarily relates to a change to the amortization pattern, or a write-off, of existing capitalized costs transferred from DAC to a contract cost asset, where authoritative guidance was superseded. This was offset in part by deferring certain sales compensation related to obtaining customer contracts that was not previously capitalized. Results of reporting periods beginning January 1, 2018, are presented under the new guidance, while prior period amounts are not adjusted and continue to be reported in accordance with our legacy accounting. The guidance did not have a material impact on our consolidated statements of operations and did not impact earnings per common share. The impacts to the consolidated statements of financial position were as follows: Consolidated Statements of Financial Position December 31, 2018 Impact of adopting revenue recognition As reported As adjusted (1) accounting guidance (in millions) Assets Deferred acquisition costs (2) $ 3,693.5 $ 3,887.2 $ (193.7) Other assets (3) 1,378.9 1,241.3 137.6 Liabilities Deferred income taxes 958.4 979.2 (20.8) Stockholders' equity Total stockholders' equity 11,456.0 11,491.3 (35.3) (1) Excludes the impact of adopting revenue recognition accounting guidance. (2) Certain costs to obtain a contract previously recorded as DAC are now recorded as a contract cost asset or are no longer deferrable under revenue recognition guidance. (3) Includes the contract cost asset. Use of Estimates in the Preparation of Financial Statements The preparation of our consolidated financial statements and accompanying notes requires management to make estimates and assumptions that affect the amounts reported and disclosed. These estimates and assumptions could change in the future as more information becomes known, which could impact the amounts reported and disclosed in the consolidated financial statements and accompanying notes. The most critical estimates include those used in determining: · the fair value of investments in the absence of quoted market values; · investment impairments and valuation allowances; · the fair value of and accounting for derivatives; · the DAC and other actuarial balances where the amortization is based on estimated gross profits; · the measurement of goodwill, indefinite lived intangible assets, finite lived intangible assets and related impairments or amortization, if any; · the liability for future policy benefits and claims; · the value of our pension and other postretirement benefit obligations and · accounting for income taxes and the valuation of deferred tax assets. A description of such critical estimates is incorporated within the discussion of the related accounting policies that follow. In applying these policies, management makes subjective and complex judgments that frequently require estimates about matters that are inherently uncertain. Actual results could differ from these estimates. Closed Block Principal Life Insurance Company (“Principal Life”) operates a closed block (“Closed Block”) for the benefit of individual participating dividend‑paying policies in force at the time of the 1998 mutual insurance holding company (“MIHC”) formation. See Note 6, Closed Block, for further details. Cash and Cash Equivalents Cash and cash equivalents include cash on hand, money market instruments and other debt issues with a maturity date of three months or less when purchased. Investments Fixed maturities include bonds, asset-backed securities (“ABS”), redeemable preferred stock and certain non-redeemable preferred securities. Equity securities include mutual funds, common stock, non-redeemable preferred stock and required regulatory investments. We classify fixed maturities as either available-for-sale or trading at the time of the purchase and, accordingly, carry them at fair value. Equity securities are also carried at fair value. See Note 14, Fair Value Measurements, for methodologies related to the determination of fair value. Unrealized gains and losses related to fixed maturities, available-for-sale, excluding those in fair value hedging relationships, are reflected in stockholders' equity, net of adjustments associated with DAC and related actuarial balances, derivatives in cash flow hedge relationships and applicable income taxes. Mark-to-market adjustments on equity securities, unrealized gains and losses related to hedged portions of fixed maturities, available-for-sale in fair value hedging relationships and mark-to-market adjustments on certain fixed maturities, trading are reflected in net realized capital gains (losses). Mark-to-market adjustments related to certain securities carried at fair value with an investment objective to realize economic value through mark-to-market changes are reflected in net investment income. The cost of fixed maturities is adjusted for amortization of premiums and accrual of discounts, both computed using the interest method. The cost of fixed maturities classified as available-for-sale is adjusted for declines in value that are other than temporary. Impairments in value deemed to be other than temporary are primarily reported in net income as a component of net realized capital gains (losses), with noncredit impairment losses for certain fixed maturities, available-for-sale reported in OCI. Interest income, as well as prepayment fees and the amortization of the related premium or discount, is reported in net investment income. For loan-backed and structured securities, we recognize income using a constant effective yield based on currently anticipated cash flows. Real estate investments are reported at cost less accumulated depreciation. The initial cost bases of properties acquired through loan foreclosures are the lower of the fair market values of the properties at the time of foreclosure or the outstanding loan balance. Buildings and land improvements are generally depreciated on the straight-line method over the estimated useful life of improvements and tenant improvement costs are depreciated on the straight-line method over the term of the related lease. We recognize impairment losses for properties when indicators of impairment are present and a property's expected undiscounted cash flows are not sufficient to recover the property's carrying value. In such cases, the cost basis of the property is reduced to fair value. Real estate expected to be disposed is carried at the lower of cost or fair value, less cost to sell, with valuation allowances established accordingly and depreciation no longer recognized. The carrying amount of real estate held for sale was $209.6 million and $212.9 million as of December 31, 2018 and 2017, respectively. Any impairment losses and any changes in valuation allowances are reported in net income. Commercial and residential mortgage loans are generally reported at cost adjusted for amortization of premiums and accrual of discounts, computed using the interest method and net of valuation allowances. Interest income is accrued on the principal amount of the loan based on the loan’s contractual interest rate. Interest income, as well as prepayment of fees and the amortization of the related premium or discount, is reported in net investment income. Any changes in the valuation allowances are reported in net realized capital gains (losses). We measure impairment based upon the difference between carrying value and estimated value less cost to sell. Estimated value is based on either the present value of expected cash flows discounted at the loan's effective interest rate, the loan's observable market price or the fair value of the collateral. If foreclosure is probable, the measurement of any valuation allowance is based upon the fair value of the collateral. Net realized capital gains and losses on sales of investments are determined on the basis of specific identification. In general, in addition to realized capital gains and losses on investment sales and periodic settlements on derivatives not designated as hedges, we report gains and losses related to the following in net realized capital gains (losses): other-than-temporary impairments of securities and subsequent realized recoveries, mark-to-market adjustments on equity securities, mark-to-market adjustments on certain fixed maturities, trading, mark-to-market adjustments on sponsored investment funds, fair value hedge and cash flow hedge ineffectiveness, mark-to-market adjustments on derivatives not designated as hedges, changes in the mortgage loan valuation allowance provision, impairments of real estate held for investment and impairments of equity method investments. Investment gains and losses on sales of certain real estate held for sale due to investment strategy and mark-to-market adjustments on certain securities carried at fair value with an investment objective to realize economic value through mark-to-market changes are reported as net investment income and are excluded from net realized capital gains (losses). Policy loans and certain other investments are reported at cost. Interests in unconsolidated entities, joint ventures and partnerships are generally accounted for using the equity method. We have other investments reported at fair value or for which the fair value option has been elected in prior periods. See Note 14, Fair Value Measurements, for detail on these investments. Derivatives Overview Derivatives are financial instruments whose values are derived from interest rates, foreign exchange rates, financial indices or the values of securities. Derivatives generally used by us include swaps, options, futures and forwards. Derivative positions are either assets or liabilities in the consolidated statements of financial position and are measured at fair value, generally by obtaining quoted market prices or through the use of pricing models. See Note 14, Fair Value Measurements, for policies related to the determination of fair value. Fair values can be affected by changes in interest rates, foreign exchange rates, financial indices, values of securities, credit spreads, and market volatility and liquidity. Accounting and Financial Statement Presentation We designate derivatives as either: (a) a hedge of the exposure to changes in the fair value of a recognized asset or liability or an unrecognized firm commitment, including those denominated in a foreign currency (“fair value hedge”); (b) a hedge of a forecasted transaction or the exposure to variability of cash flows to be received or paid related to a recognized asset or liability, including those denominated in a foreign currency (“cash flow hedge”); (c) a hedge of a net investment in a foreign operation or (d) a derivative not designated as a hedging instrument. Our accounting for the ongoing changes in fair value of a derivative depends on the intended use of the derivative and the designation, as described above, and is determined when the derivative contract is entered into or at the time of redesignation. Hedge accounting is used for derivatives that are specifically designated in advance as hedges and that reduce our exposure to an indicated risk by having a high correlation between changes in the value of the derivatives and the items being hedged at both the inception of the hedge and throughout the hedge period. Fair Value Hedges. When a derivative

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2018
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets	2. Goodwill and Other Intangible Assets Goodwill The changes in the carrying amount of goodwill reported in our segments were as follows: Retirement Principal U.S. and Income Global Principal Insurance Solutions Investors International Solutions Corporate Consolidated (in millions) Balance as of January 1, 2017 $ 57.4 $ 242.5 $ 664.3 $ 56.6 $ — $ 1,020.8 Foreign currency — 4.8 43.2 — — 48.0 Balance as of December 31, 2017 57.4 247.3 707.5 56.6 — 1,068.8 Goodwill from acquisitions (1) — 65.0 46.8 — 2.1 113.9 Goodwill disposed (2) — — (12.0) — — (12.0) Foreign currency — (5.0) (65.7) — — (70.7) Balance as of December 31, 2018 $ 57.4 $ 307.3 $ 676.6 $ 56.6 $ 2.1 $ 1,100.0 (1) Relates to the acquisitions of: a) RobustWealth, a financial technology company, which is consolidated within our Corporate segment with the majority of the goodwill allocated to our Principal Global Investors segment; b) INTERNOS, a London-based European real estate investment manager that, upon acquisition, became Principal Real Estate Europe Limited and is consolidated within our Principal Global Investors segment; c) MetLife Afore, S.A. de C.V., which was MetLife, Inc.’s pension fund management business in Mexico and is consolidated within our Principal International segment. (2) Relates to sales of closed blocks of business in Mexico. Finite Lived Intangible Assets Amortized intangible assets primarily relate to customer relationship intangibles associated with previous acquisitions in Chile, Mexico and Hong Kong. The finite lived intangible assets that continue to be subject to amortization over a weighted average remaining expected life of 14 years were as follows: December 31, 2018 2017 (in millions) Gross carrying value $ 810.2 $ 782.9 Accumulated amortization 288.4 277.7 Net carrying value $ 521.8 $ 505.2 The amortization expense for intangible assets with finite useful lives was $53.9 million, $45.4 million and $44.5 million for 2018, 2017 and 2016, respectively. As of December 31, 2018, the estimated amortization expense for the next five years is as follows (in millions): Year ending December 31: 2019 $ 48.5 2020 48.2 2021 47.0 2022 46.3 2023 44.2 Indefinite Lived Intangible Assets The net carrying amount of unamortized indefinite lived intangible assets was $793.3 million and $809.5 million as of December 31, 2018 and 2017, respectively. As of both December 31, 2018 and 2017, $608.0 million relates to investment management contracts associated with our acquisition of WM Advisors, Inc. in 2006. The remaining balance primarily relates to the trade name intangible associated with our acquisition of Administradora de Fondos de Pensiones Cuprum S.A. (“Cuprum”) in 2013.

Variable Interest Entities

Variable Interest Entities	12 Months Ended
	Dec. 31, 2018
Variable Interest Entities
Variable Interest Entities	3. Variable Interest Entities We have relationships with various types of entities which may be VIEs. Certain VIEs are consolidated in our financial results. See Note 1, Nature of Operations and Significant Accounting Policies, under the caption “Consolidation” for further details of our consolidation accounting policies. We did not provide financial or other support to investees designated as VIEs for the periods ended December 31, 2018 and December 31, 2017. Adoption of New Consolidation Guidance Both the variable interest and voting interest consolidation models were changed under authoritative guidance effective January 1, 2016. The guidance eliminated the investment company deferral for portions of the variable interest model. Prior to January 1, 2016, the primary beneficiary of an investment company VIE was the enterprise who absorbed the majority of the entity’s expected losses, received a majority of the expected residual returns or both. The new guidance requires all VIEs to be assessed under one method to determine the primary beneficiary. The determination of whether interests in limited partnerships and similar entities are VIEs or VOEs has also changed under the pronouncement, by requiring evaluation of the equity holders’ rights to determine if they have the power to direct the entity’s most significant activities through substantive kick-out rights or participating rights. Limited partnerships and similar entities without these rights are VIEs. We adopted the guidance using the modified retrospective approach effective January 1, 2016. Under the modified retrospective approach, the cumulative effect of initially applying the new guidance is recognized as of the date of initial application, and comparative periods are not restated. The changes resulting from the adoption were: · The adoption resulted in the deconsolidation of $8.6 billion of both assets and liabilities of certain mandatory privatized social security funds in which we provide asset management services. Prior to January 1, 2016, the funds were consolidated as VOEs and the funds were presented in separate account assets and liabilities in the consolidated statements of financial position. The deconsolidation did not have a material impact to our consolidated statements of operations and did not result in a cumulative effect of the change on retained earnings. · The adoption of the guidance resulted in consolidation of certain sponsored investment funds in which we provide asset management services. We consolidated $180.1 million of assets and $0.6 million of liabilities. Additionally, we recorded $179.5 million of redeemable noncontrolling interest related to these funds. The consolidation of these funds did not have a material impact to our consolidated statements of operations and did not result in a cumulative effect of the change on retained earnings. · We invest in partnerships and other funds. Prior to new accounting guidance certain of these investments were VOEs. Upon adoption of new accounting guidance, some of these investments are now considered VIEs. We are not the primary beneficiary of these VIEs. · We provide asset management and other services to certain investment structures for which we earn performance-based management fees. These structures were considered VIEs prior to new accounting guidance, and we had a variable interest. We were not the primary beneficiary of these entities as we did not have the obligation to absorb losses or the right to receive benefits of the entities that could be potentially significant to the VIE. Subsequent to new accounting guidance, we no longer consider our fees a variable interest for those investment structures where our fees are deemed to be commensurate with the services provided, consistent with fees for similar services negotiated at arms-length, and we do not have additional interests in the entity that would absorb a significant amount of the entity’s expected losses and expected residual returns of the entity. Consolidated Variable Interest Entities Grantor Trusts We contributed undated subordinated floating rate notes to two grantor trusts. The trusts separated their cash flows by issuing an interest-only certificate and a residual certificate related to each note contributed. Each interest-only certificate entitles the holder to interest on the stated note for a specified term, while the residual certificate entitles the holder to interest payments subsequent to the term of the interest-only certificate and to all principal payments. We retained the interest-only certificates and the residual certificates were subsequently sold to third parties. We determined these grantor trusts are VIEs due to insufficient equity to sustain them. We determined we are the primary beneficiary as a result of our contribution of securities into the trusts and our significant continuing interest in the trusts. In 2018, the interest-only certificates from one of the grantor trusts were sold to a third party. Commercial Mortgage-Backed Securities We sold commercial mortgage loans to a real estate mortgage investment conduit trust. The trust issued various commercial mortgage-backed securities (“CMBS”) certificates using the cash flows of the underlying commercial mortgage loans it purchased. This is considered a VIE due to insufficient equity to sustain itself. We determined we are the primary beneficiary as we retained the special servicing role for the assets within the trust as well as the ownership of the bond class that controls the unilateral kick-out rights of the special servicer. Mandatory Retirement Savings Funds We hold an equity interest in Chilean mandatory privatized social security funds in which we provide asset management services. W e determined the mandatory privatized social security funds, which also include contributions for voluntary pension savings, voluntary non-pension savings and compensation savings accounts, are VIEs. This is because the equity holders as a group lack the power, due to voting rights or similar rights, to direct the activities of the entity that most significantly impact the entity’s economic performance and also because equity investors are protected from below-average market investment returns relative to the industry's return, due to a regulatory guarantee that we provide. Further we concluded we are the primary beneficiary through our power to make decisions and our significant variable interest in the funds. The purpose of the funds, which reside in legally segregated entities, is to provide long-term retirement savings. The obligation to the customer is directly related to the assets held in the funds and, as such, we present the assets as separate account assets and the obligation as separate account liabilities within our consolidated statements of financial position. Principal International Hong Kong offers retirement pension schemes in which we provide trustee, administration and asset management services to employers and employees under the Hong Kong Mandatory Provident Fund and Occupational Retirement Schemes Ordinance pension schemes. Each pension scheme has various guaranteed and non-guaranteed constituent funds, or investment options, in which customers can invest their money. The guaranteed funds provide either a guaranteed rate of return to the customer or a minimum guarantee on withdrawals under certain qualifying events. We determined the guaranteed funds are VIEs due to the fact the equity holders, as a group, lack the obligation to absorb expected losses due to the guarantee we provide. We concluded we are the primary beneficiary because we have the power to make decisions and to receive benefits and the obligation to absorb losses that could be potentially significant to the VIE. Therefore, we consolidate the underlying assets and liabilities of the funds and present as separate accounts or within the general account, depending on the terms of the guarantee. Real Estate We invest in several real estate limited partnerships and limited liability companies. The entities invest in real estate properties. Certain of these entities are VIEs based on the combination of our significant economic interest and related voting rights. We determined we are the primary beneficiary as a result of our power to control the entities through our significant ownership. Due to the nature of these real estate investments, the investment balance will fluctuate as we purchase and sell interests in the entities and as capital expenditures are made to improve the underlying real estate. Sponsored Investment Funds We sponsor and invest in certain investment funds for which we provide asset management services. Although our asset management fee is commensurate with the services provided and consistent with fees for similar services negotiated at arms-length, we have a variable interest for funds where our other interests are more than insignificant. The funds are VIEs as the equity holders lack power through voting rights to direct the activities of the entity that most significantly impact its economic performance. We determined we are the primary beneficiary of the VIEs where our interest in the entity is more than insignificant and we are the asset manager. We also invest in certain series of another investment fund. These series are VIEs as the equity holders of each series lack the power to direct the most significant activities of the VIE. We determined we are the primary beneficiary of these series as our interest is more than insignificant and collectively we have the power to direct the most significant activities of the fund. Assets and Liabilities of Consolidated Variable Interest Entities The carrying amounts of our consolidated VIE assets, which can only be used to settle obligations of consolidated VIEs, and liabilities of consolidated VIEs for which creditors do not have recourse were as follows: December 31, 2018 December 31, 2017 Total Total Total Total assets liabilities assets liabilities (in millions) Grantor trusts (1) $ 95.0 $ 89.4 $ 268.8 $ 253.1 CMBS 6.4 — 9.4 — Mandatory retirement savings funds (2) 37,915.7 37,579.3 42,311.4 41,921.4 Real estate (3) 379.2 70.6 387.1 19.5 Sponsored investment funds (4) 526.5 3.6 178.1 1.0 Total $ 38,922.8 $ 37,742.9 $ 43,154.8 $ 42,195.0 (1) The assets of grantor trusts are primarily fixed maturities, available-for-sale. The liabilities are primarily other liabilities that reflect an embedded derivative of the forecasted transaction to deliver the underlying securities. (2) The assets of the mandatory retirement savings funds include separate account assets and equity securities. The liabilities include separate account liabilities and contractholder funds. (3) The assets of the real estate VIEs primarily include real estate and cash. Liabilities primarily include long-term debt and other liabilities. (4) The assets of sponsored investment funds are primarily fixed maturities and equity securities, certain of which are reported with other investments, and cash. The consolidated statements of financial position included a $325.7 million and $52.4 million redeemable noncontrolling interest for sponsored investment funds as of December 31, 2018 and December 31, 2017, respectively. Unconsolidated Variable Interest Entities We hold a variable interest in a number of VIEs where we are not the primary beneficiary. Our investments in these VIEs are reported in fixed maturities, available-for-sale; fixed maturities, trading; equity securities (equity securities, trading as of December 31, 2017) and other investments in the consolidated statements of financial position and are described below. Unconsolidated VIEs include certain CMBS, residential mortgage-backed pass-through securities ("RMBS") and other asset-backed securities (“ABS”). All of these entities were deemed VIEs because the equity within these entities is insufficient to sustain them. We determined we are not the primary beneficiary in the entities within these categories of investments. This determination was based primarily on the fact we do not own the class of security that controls the unilateral right to replace the special servicer or equivalent function. We invest in cash collateralized debt obligations, collateralized bond obligations, collateralized loan obligations and other collateralized structures, which are VIEs due to insufficient equity to sustain the entities. We have determined we are not the primary beneficiary of these entities primarily because we do not control the economic performance of the entities and were not involved with the design of the entities or because we do not have a potentially significant variable interest in the entities for which we are the asset manager. We have invested in various VIE trusts and similar entities as a debt holder. Most of these entities are classified as VIEs due to insufficient equity to sustain them. In addition, we have an entity classified as a VIE based on the combination of our significant economic interest and lack of voting rights. We have determined we are not the primary beneficiary primarily because we do not control the economic performance of the entities and were not involved with the design of the entities. We have invested in partnerships and other funds, which are classified as VIEs. The entities are VIEs as equity holders lack the power to control the most significant activities of the entities because the equity holders do not have either the ability by a simple majority to exercise substantive kick-out rights or substantive participating rights. We have determined we are not the primary beneficiary because we do not have the power to direct the most significant activities of the entities. As previously discussed, we sponsor, invest in and have other interests in certain investment funds that are VIEs. We determined we are not the primary beneficiary of the VIEs for which we are the asset manager but do not have a potentially significant variable interest in the funds. We hold an equity interest in Mexican mandatory privatized social security funds in which we provide asset management services. Our equity interest in the funds is considered a variable interest. We concluded the funds are VIEs because the equity holders as a group lack decision-making ability through their voting rights. We are not the primary beneficiary of the VIEs because although we, as the asset manager, have the power to direct the activities of the VIEs, we do not have a potentially significant variable interest in the funds. The carrying value and maximum loss exposure for our unconsolidated VIEs were as follows: Maximum exposure to Asset carrying value loss (1) (in millions) December 31, 2018 Fixed maturities, available-for-sale: Corporate $ 235.3 $ 222.6 Residential mortgage-backed pass-through securities 2,460.6 2,488.5 Commercial mortgage-backed securities 3,945.6 4,023.1 Collateralized debt obligations (2) 2,420.8 2,451.3 Other debt obligations 7,153.2 7,196.6 Fixed maturities, trading: Residential mortgage-backed pass-through securities 322.6 322.6 Commercial mortgage-backed securities 13.8 13.8 Collateralized debt obligations (2) 11.8 11.8 Other debt obligations 9.7 9.7 Equity securities 103.9 103.9 Other investments: Other limited partnership and fund interests (3) 737.5 1,432.2 December 31, 2017 Fixed maturities, available-for-sale: Corporate $ 244.2 $ 224.5 Residential mortgage-backed pass-through securities 2,523.3 2,493.8 Commercial mortgage-backed securities 3,708.3 3,734.0 Collateralized debt obligations (2) 1,359.3 1,372.1 Other debt obligations 5,646.2 5,645.1 Fixed maturities, trading: Residential mortgage-backed pass-through securities 366.5 366.5 Commercial mortgage-backed securities 0.7 0.7 Equity securities 77.1 77.1 Other investments: Other limited partnership and fund interests 797.4 1,438.0 (1) Our risk of loss is limited to our initial investment measured at amortized cost for fixed maturities, available-for-sale. Our risk of loss is limited to our investment measured at fair value for our fixed maturities, trading and equity securities. Our risk of loss is limited to our carrying value plus any unfunded commitments and/or guarantees and similar provisions for our other investments. Unfunded commitments are not liabilities on our consolidated statements of financial position because we are only required to fund additional equity when called upon to do so by the general partner or investment manager. (2) Primarily consists of collateralized loan obligations backed by secured corporate loans. (3) As of December 31, 2018, the maximum exposure to loss for other limited partnership and fund interests includes $132.2 million of debt within certain of our managed international real estate funds that is fully secured by assets whose value exceeds the amount of the debt, but also includes recourse to the investment manager. Money Market Funds We are the investment manager for certain money market mutual funds. These types of funds are exempt from assessment under any consolidation model due to a scope exception for money market funds registered under Rule 2a-7 of the Investment Company Act of 1940 or similar funds. As of December 31, 2018 and December 31, 2017, money market mutual funds we manage held $3.0 billion and $4.4 billion in total assets, respectively. We have no contractual obligation to contribute to these funds; however, we provide support through the waiver of fees and through expense reimbursements. The amount of fees waived and expenses reimbursed was insignificant.

Investments

Investments	12 Months Ended
	Dec. 31, 2018
Investments
Investments	4. Investments Fixed Maturities and Equity Securities The amortized cost, gross unrealized gains and losses, other-than-temporary impairments in AOCI and fair value of available-for-sale securities were as follows: Other-than- Gross Gross temporary Amortized unrealized unrealized impairments in cost gains losses Fair value AOCI (1) (in millions) December 31, 2018 Fixed maturities, available-for-sale: U.S. government and agencies $ 1,441.6 $ 16.4 $ 17.0 $ 1,441.0 $ — Non-U.S. governments 833.4 71.7 14.6 890.5 — States and political subdivisions 6,125.0 196.0 95.3 6,225.7 — Corporate 35,134.6 1,249.9 845.2 35,539.3 — Residential mortgage-backed pass-through securities 2,488.5 21.9 49.8 2,460.6 — Commercial mortgage-backed securities 4,023.1 17.1 94.6 3,945.6 16.3 Collateralized debt obligations (2) 2,451.3 — 30.5 2,420.8 1.2 Other debt obligations 7,228.3 39.4 82.7 7,185.0 36.1 Total fixed maturities, available-for-sale $ 59,725.8 $ 1,612.4 $ 1,229.7 $ 60,108.5 $ 53.6 December 31, 2017 Fixed maturities, available-for-sale: U.S. government and agencies $ 1,314.5 $ 44.9 $ 7.7 $ 1,351.7 $ — Non-U.S. governments 820.5 84.6 3.6 901.5 — States and political subdivisions 6,446.1 371.4 15.9 6,801.6 — Corporate 34,673.0 2,464.2 104.1 37,033.1 0.5 Residential mortgage-backed pass-through securities 2,493.8 50.8 21.3 2,523.3 — Commercial mortgage-backed securities 3,734.0 32.7 58.4 3,708.3 50.6 Collateralized debt obligations (2) 1,372.1 2.7 15.5 1,359.3 0.3 Other debt obligations 5,708.1 42.0 40.5 5,709.6 41.9 Total fixed maturities, available-for-sale $ 56,562.1 $ 3,093.3 $ 267.0 $ 59,388.4 $ 93.3 Total equity securities, available-for-sale $ 94.0 $ 7.4 $ 5.4 $ 96.0 (1) Excludes $64.2 million and $103.0 million as of December 31, 2018 and December 31, 2017 , respectively, of net unrealized gains on impaired fixed maturities, available-for-sale related to changes in fair value subsequent to the impairment date, which are included in gross unrealized gains and gross unrealized losses. (2) Primarily consists of collateralized loan obligations backed by secured corporate loans. The amortized cost and fair value of fixed maturities, available-for-sale as of December 31, 2018, by expected maturity, were as follows: Amortized cost Fair value (in millions) Due in one year or less $ 2,747.4 $ 2,753.5 Due after one year through five years 10,602.1 10,631.7 Due after five years through ten years 10,511.7 10,389.7 Due after ten years 19,673.4 20,321.6 Subtotal 43,534.6 44,096.5 Mortgage-backed and other asset-backed securities 16,191.2 16,012.0 Total $ 59,725.8 $ 60,108.5 Actual maturities may differ because borrowers may have the right to call or prepay obligations. Our portfolio is diversified by industry, issuer and asset class. Credit concentrations are managed to established limits. Net Investment Income Major components of net investment income were as follows: For the year ended December 31, 2018 2017 2016 (in millions) Fixed maturities, available-for-sale $ 2,479.9 $ 2,342.3 $ 2,253.8 Fixed maturities, trading 26.4 12.6 20.2 Equity securities, available-for-sale — 21.7 20.1 Equity securities, trading — 46.1 31.4 Equity securities 38.8 — — Mortgage loans 641.4 605.9 573.9 Real estate 158.8 129.4 127.9 Policy loans 45.0 45.6 46.3 Cash and cash equivalents 56.2 28.6 14.2 Derivatives (1) 0.1 (3.2) (36.1) Other 285.0 319.6 329.2 Total 3,731.6 3,548.6 3,380.9 Investment expenses (102.4) (89.3) (84.4) Net investment income $ 3,629.2 $ 3,459.3 $ 3,296.5 (1) Relates to periodic settlements of derivatives used in fair value and cash flow hedges of fixed maturities, available-for-sale. See Note 5, Derivative Financial Instruments, for further details. Net Realized Capital Gains and Losses Major components of net realized capital gains (losses) on investments were as follows: For the year ended December 31, 2018 2017 2016 (in millions) Fixed maturities, available-for-sale: Gross gains $ 40.2 $ 14.7 $ 74.6 Gross losses (74.8) (27.2) (28.6) Net impairment losses (29.1) (81.7) (96.7) Hedging, net (39.6) (28.5) (37.9) Fixed maturities, trading (1) (9.0) (8.0) 4.1 Equity securities, available-for-sale: Gross gains — 0.2 — Net impairment losses — (0.1) (1.7) Equity securities, trading (2) — 65.0 6.8 Equity securities (3) (17.7) — — Mortgage loans 6.2 9.0 4.5 Derivatives 11.7 (149.8) 210.1 Other (4) 36.7 730.6 35.9 Net realized capital gains (losses) $ (75.4) $ 524.2 $ 171.1 (1) Unrealized gains (losses) on fixed maturities, trading still held at the reporting date were $(12.2) million, $(7.5) million and $6.5 million for the years ended December 31, 2018, 2017 and 2016, respectively. (2) Unrealized gains (losses) on equity securities, trading still held at the reporting date were $45.3 million and $(0.8) million for the years ended December 31, 2017 and 2016, respectively. This excludes $34.9 million and $18.8 million of unrealized gains (losses) on equity securities, trading still held at the reporting date for the years ended December 31, 2017 and 2016, respectively, that were reported in net investment income. (3) Unrealized gains (losses) on equity securities still held at the reporting date were $(39.9) million for the year ended December 31, 2018. This excludes $ 4.9 million of unrealized gains (losses) on equity securities still held at the reporting date for the year ended December 31, 2018, that was reported in net investment income. (4) Further details relating to other gains in 2017 are included under the caption “ Real Estate Transactions." Proceeds from sales of investments (excluding call and maturity proceeds) in fixed maturities, available-for-sale were $3,067.2 million, $1,345.8 million and $1,916.9 million in 2018, 2017 and 2016, respectively. Other-Than-Temporary Impairments We have a process in place to identify fixed maturity securities that could potentially have an impairment that is other than temporary. Prior to 2018, we also used this process to assess equity securities for impairment. This process involves monitoring market events that could impact issuers’ credit ratings, business climate, management changes, litigation and government actions and other similar factors. This process also involves monitoring late payments, pricing levels, downgrades by rating agencies, key financial ratios, financial statements, revenue forecasts and cash flow projections as indicators of credit issues. Each reporting period, all securities are reviewed to determine whether an other-than-temporary decline in value exists and whether losses should be recognized. We consider relevant facts and circumstances in evaluating whether a credit or interest rate related impairment of a security is other than temporary. Relevant facts and circumstances considered include: (1) the extent and length of time the fair value has been below cost; (2) the reasons for the decline in value; (3) the financial position and access to capital of the issuer, including the current and future impact of any specific events; (4) for structured securities, the adequacy of the expected cash flows; (5) for fixed maturities, our intent to sell a security or whether it is more likely than not we will be required to sell the security before the recovery of its amortized cost which, in some cases, may extend to maturity and (6) for equity securities, our ability and intent to hold the security for a period of time that allows for the recovery in value. To the extent we determine a security is deemed to be other than temporarily impaired, an impairment loss is recognized. The way in which impairment losses on fixed maturities are recognized in the financial statements is dependent on the facts and circumstances related to the specific security. If we intend to sell a security or it is more likely than not that we would be required to sell a security before the recovery of its amortized cost, we recognize an other-than-temporary impairment in net income for the difference between amortized cost and fair value. If we do not expect to recover the amortized cost basis, we do not plan to sell the security and if it is not more likely than not that we would be required to sell a security before the recovery of its amortized cost, the recognition of the other-than-temporary impairment is bifurcated. We recognize the credit loss portion in net income and the noncredit loss portion in OCI (“bifurcated OTTI”). Prior to 2018, impairment losses on equity securities were recognized in net income and were measured as the difference between amortized cost and fair value. Total other-than-temporary impairment losses, net of recoveries from the sale of previously impaired securities, were as follows: For the year ended December 31, 2018 2017 2016 (in millions) Fixed maturities, available-for-sale $ 10.6 $ (28.6) $ (97.1) Equity securities, available-for-sale — (0.1) (1.7) Total other-than-temporary impairment losses, net of recoveries from the sale of previously impaired securities 10.6 (28.7) (98.8) Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified to (from) OCI (1) (39.7) (53.1) 0.4 Net impairment losses on available-for-sale securities $ (29.1) $ (81.8) $ (98.4) (1) Represents the net impact of (a) gains resulting from reclassification of noncredit impairment losses for fixed maturities with bifurcated OTTI from net realized capital gains (losses) to OCI and (b) losses resulting from reclassification of previously recognized noncredit impairment losses from OCI to net realized capital gains (losses) for fixed maturities with bifurcated OTTI that had additional credit losses or fixed maturities that previously had bifurcated OTTI that have now been sold or are intended to be sold. We estimate the amount of the credit loss component of a fixed maturity security impairment as the difference between amortized cost and the present value of the expected cash flows of the security. The present value is determined using the best estimate cash flows discounted at the effective interest rate implicit to the security at the date of purchase or the current yield to accrete an asset-backed or floating rate security. The methodology and assumptions for establishing the best estimate cash flows vary depending on the type of security. The ABS cash flow estimates are based on security specific facts and circumstances that may include collateral characteristics, expectations of delinquency and default rates, loss severity and prepayment speeds and structural support, including subordination and guarantees. The corporate security cash flow estimates are derived from scenario-based outcomes of expected corporate restructurings or liquidations using bond specific facts and circumstances including timing, security interests and loss severity. The following table provides a rollforward of accumulated credit losses for fixed maturities with bifurcated credit losses. The purpose of the table is to provide detail of (1) additions to the bifurcated credit loss amounts recognized in net realized capital gains (losses) during the period and (2) decrements for previously recognized bifurcated credit losses where the loss is no longer bifurcated and/or there has been a positive change in expected cash flows or accretion of the bifurcated credit loss amount. For the year ended December 31, 2018 2017 2016 (in millions) Beginning balance $ (124.3) $ (139.9) $ (131.5) Credit losses for which an other-than-temporary impairment was not previously recognized (11.3) (15.0) (43.4) Credit losses for which an other-than-temporary impairment was previously recognized (20.0) (42.5) (31.7) Reduction for credit losses previously recognized on fixed maturities now sold, paid down or intended to be sold 29.5 63.3 60.5 Net reduction for positive changes in cash flows expected to be collected and amortization (1) 8.6 10.0 6.4 Foreign currency translation adjustment — (0.2) (0.2) Ending balance $ (117.5) $ (124.3) $ (139.9) (1) Amounts are recognized in net investment income. Gross Unrealized Losses for Available-for-Sale Securities For available-for-sale securities with unrealized losses, including other-than-temporary impairment losses reported in OCI, the gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position were as follows: December 31, 2018 Greater than Less than or equal to twelve months twelve months Total Gross Gross Gross Fair unrealized Fair unrealized Fair unrealized value losses value losses value losses (in millions) Fixed maturities, available-for-sale: U.S. government and agencies $ 101.8 $ 1.6 $ 500.3 $ 15.4 $ 602.1 $ 17.0 Non-U.S. governments 210.2 4.7 191.5 9.9 401.7 14.6 States and political subdivisions 1,359.9 33.9 1,590.3 61.4 2,950.2 95.3 Corporate 13,198.4 476.0 6,865.0 369.2 20,063.4 845.2 Residential mortgage-backed pass- through securities 236.7 1.0 1,410.2 48.8 1,646.9 49.8 Commercial mortgage-backed securities 790.3 11.6 2,223.2 83.0 3,013.5 94.6 Collateralized debt obligations (1) 2,233.3 24.0 162.6 6.5 2,395.9 30.5 Other debt obligations 985.5 4.9 3,665.1 77.8 4,650.6 82.7 Total fixed maturities, available-for-sale $ 19,116.1 $ 557.7 $ 16,608.2 $ 672.0 $ 35,724.3 $ 1,229.7 (1) Primarily consists of collateralized loan obligations backed by secured corporate loans. Of the total amounts, Principal Life’s consolidated portfolio represented $35,051.9 million in available-for-sale fixed maturities with gross unrealized losses of $1,202.9 million. Of the available-for-sale fixed maturities within Principal Life's consolidated portfolio in a gross unrealized loss position, 95% were investment grade (rated AAA through BBB-) with an average price of 97 (carrying value/amortized cost) as of December 31, 2018. Gross unrealized losses in our fixed maturities portfolio increased during the year ended December 31, 2018, primarily due to widening of credit spreads and an increase in interest rates. For those securities that had been in a continuous unrealized loss position for less than twelve months, Principal Life's consolidated portfolio held 2,076 securities with a carrying value of $18,764.0 million and unrealized losses of $541.3 million reflecting an average price of 97 as of December 31, 2018. Of this portfolio, 92% was investment grade (rated AAA through BBB-) as of December 31, 2018, with associated unrealized losses of $473.7 million. The unrealized losses on these securities can primarily be attributed to changes in market interest rates and changes in credit spreads since the securities were acquired. For those securities that had been in a continuous unrealized loss position greater than or equal to twelve months, Principal Life's consolidated portfolio held 2,335 securities with a carrying value of $16,287.9 million and unrealized losses of $661.6 million. The average credit rating of this portfolio was AA- with an average price of 96 as of December 31, 2018. Of the $661.6 million in unrealized losses, the corporate sector accounts for $360.4 million in unrealized losses with an average price of 95 and an average credit rating of A-. The remaining unrealized losses also include $82.2 million within the commercial mortgage-backed securities sector with an average price of 96 and an average credit rating of AA+. The unrealized losses on these securities can primarily be attributed to changes in market interest rates and changes in credit spreads since the securities were acquired. Because we expected to recover our amortized cost, it was not our intent to sell the fixed maturity available-for-sale securities with unrealized losses and it was not more likely than not that we would be required to sell these securities before recovery of the amortized cost, which may be at maturity, we did not consider these investments to be other-than-temporarily impaired as of December 31, 2018. December 31, 2017 Greater than or Less than equal to twelve twelve months months Total Gross Gross Gross Fair unrealized Fair unrealized Fair unrealized value losses value losses value losses (in millions) Fixed maturities, available-for-sale: U.S. government and agencies $ 294.2 $ 2.2 $ 180.9 $ 5.5 $ 475.1 $ 7.7 Non-U.S. governments 111.0 1.7 22.1 1.9 133.1 3.6 States and political subdivisions 720.0 5.0 437.7 10.9 1,157.7 15.9 Corporate 3,871.5 43.4 1,644.3 60.7 5,515.8 104.1 Residential mortgage-backed pass- through securities 354.4 2.0 734.5 19.3 1,088.9 21.3 Commercial mortgage-backed securities 1,342.7 19.9 820.3 38.5 2,163.0 58.4 Collateralized debt obligations (1) 460.9 2.1 38.3 13.4 499.2 15.5 Other debt obligations 2,667.6 16.0 956.8 24.5 3,624.4 40.5 Total fixed maturities, available-for-sale $ 9,822.3 $ 92.3 $ 4,834.9 $ 174.7 $ 14,657.2 $ 267.0 Total equity securities, available-for-sale $ — $ — $ 40.4 $ 5.4 $ 40.4 $ 5.4 (1) Primarily consists of collateralized loan obligations backed by secured corporate loans. Of the total amounts, Principal Life’s consolidated portfolio represented $14,059.5 million in available-for-sale fixed maturities with gross unrealized losses of $239.7 million. Of the available-for-sale fixed maturities within Principal Life's consolidated portfolio in a gross unrealized loss position, 97% were investment grade (rated AAA through BBB-) with an average price of 98 (carrying value/amortized cost) as of December 31, 2017. Gross unrealized losses in our fixed maturities portfolio decreased during the year ended December 31, 2017, primarily due to tightening of credit spreads. For those securities that had been in a continuous unrealized loss position for less than twelve months, Principal Life's consolidated portfolio held 1,209 securities with a carrying value of $9,360.9 million and unrealized losses of $75.4 million reflecting an average price of 99 as of December 31, 2017. Of this portfolio, 98% was investment grade (rated AAA through BBB-) as of December 31, 2017, with associated unrealized losses of $71.5 million. The unrealized losses on these securities can primarily be attributed to changes in market interest rates and changes in credit spreads since the securities were acquired. For those securities that had been in a continuous unrealized loss position greater than or equal to twelve months, Principal Life's consolidated portfolio held 775 securities with a carrying value of $4,698.6 million and unrealized losses of $164.3 million. The average credit rating of this portfolio was AA- with an average price of 97 as of December 31, 2017. Of the $164.3 million in unrealized losses, the corporate sector accounts for $52.2 million in unrealized losses with an average price of 97 and an average credit rating of BBB+. The remaining unrealized losses also include $38.1 million within the commercial mortgage-backed securities sector with an average price of 96 and an average credit rating of AA+. The unrealized losses on these securities can primarily be attributed to changes in market interest rates and changes in credit spreads since the securities were acquired. Because we expected to recover our amortized cost, it was not our intent to sell the fixed maturity available-for-sale securities with unrealized losses and it was not more likely than not that we would be required to sell these securities before recovery of the amortized cost, which may be at maturity, we did not consider these investments to be other-than-temporarily impaired as of December 31, 2017. Net Unrealized Gains and Losses on Available-for-Sale Securities and Derivative Instruments The net unrealized gains and losses on investments in available-for-sale securities, the noncredit component of impairment losses on fixed maturities available-for-sale and the net unrealized gains and losses on derivative instruments in cash flow hedge relationships are reported as separate components of stockholders' equity. The cumulative amount of net unrealized gains and losses on available-for-sale securities and derivative instruments in cash flow hedge relationships net of adjustments related to DAC and related actuarial balances, policyholder liabilities, noncontrolling interest and applicable income taxes was as follows: December 31, 2018 December 31, 2017 (in millions) Net unrealized gains on fixed maturities, available-for-sale (1) $ 400.8 $ 2,898.5 Noncredit component of impairment losses on fixed maturities, available-for-sale (53.6) (93.3) Net unrealized gains on equity securities, available-for-sale — 2.0 Net unrealized gains on derivative instruments 118.5 108.2 Adjustments for assumed changes in amortization patterns 30.3 (150.6) Adjustments for assumed changes in policyholder liabilities (293.7) (645.5) Net unrealized gains on other investments and noncontrolling interest adjustments 68.8 31.3 Provision for deferred income taxes (63.8) (695.5) Net unrealized gains on available-for-sale securities and derivative instruments $ 207.3 $ 1,455.1 (1) Excludes net unrealized gains (losses) on fixed maturities, available-for-sale included in fair value hedging relationships. Mortgage Loans Mortgage loans consist of commercial and residential mortgage loans. We evaluate risks inherent in our commercial mortgage loans in two classes: (1) brick and mortar property loans, including mezzanine loans, where we analyze the property's rent payments as support for the loan, and (2) credit tenant loans (“CTL”), where we rely on the credit analysis of the tenant for the repayment of the loan. We evaluate risks inherent in our residential mortgage loan portfolio in two classes: (1) first lien mortgages and (2) home equity mortgages. The carrying amount of our mortgage loan portfolio was as follows: December 31, 2018 December 31, 2017 (in millions) Commercial mortgage loans $ 13,996.3 $ 12,897.3 Residential mortgage loans 1,368.0 1,285.9 Total amortized cost 15,364.3 14,183.2 Valuation allowance (27.4) (32.7) Total carrying value $ 15,336.9 $ 14,150.5 We periodically purchase mortgage loans as well as sell mortgage loans we have originated. Mortgage loans purchased and sold were as follows: For the year ended December 31, 2018 2017 2016 (in millions) Commercial mortgage loans: Purchased $ 127.5 $ 144.2 $ Sold 2.2 28.9 Residential mortgage loans: Purchased 394.2 346.0 Sold 80.3 152.2 Our commercial mortgage loan portfolio consists primarily of non-recourse, fixed rate mortgages on stabilized properties. Our commercial mortgage loan portfolio is diversified by geographic region and specific collateral property type as follows: December 31, 2018 December 31, 2017 Amortized Percent Amortized Percent cost of total cost of total ($ in millions) Geographic distribution New England $ 640.6 4.6 % $ 591.8 4.6 % Middle Atlantic 3,927.3 28.0 3,623.0 28.1 East North Central 592.8 4.2 675.2 5.2 West North Central 205.8 1.5 174.9 1.4 South Atlantic 2,206.5 15.8 2,325.3 18.0 East South Central 422.5 3.0 375.7 2.9 West South Central 1,213.8 8.7 1,072.4 8.3 Mountain 968.6 6.9 1,039.3 8.1 Pacific 3,567.6 25.5 2,849.0 22.1 International 250.8 1.8 170.7 1.3 Total $ 13,996.3 100.0 % $ 12,897.3 100.0 % Property type distribution Office $ 4,625.8 33.0 % $ 4,700.2 36.4 % Retail 2,305.6 16.5 2,612.7 20.3 Industrial 2,312.9 16.5 1,881.5 14.6 Apartments 4,250.5 30.4 3,301.9 25.6 Hotel 99.8 0.7 130.9 1.0 Mixed use/other 401.7 2.9 270.1 2.1 Total $ 13,996.3 100.0 % $ 12,897.3 100.0 % Our residential mortgage loan portfolio is composed of first lien mortgages with an amortized cost of $1,352.9 million and $1,262.9 million and home equity mortgages with an amortized cost of $15.1 million and $23.0 million as of December 31, 2018 and December 31, 2017, respectively. Our first lien loans are concentrated in Chile and the United States. Our residential home equity mortgages are concentrated in the United States and are generally second lien mortgages comprised of closed-end loans and lines of credit. Mortgage Loan Credit Monitoring Commercial Credit Risk Profile Based on Internal Rating We actively monitor and manage our commercial mortgage loan portfolio. All commercial mortgage loans are analyzed regularly and substantially all are internally rated, based on a proprietary risk rating cash flow model, in order to monitor the financial quality of these assets. The model stresses expected cash flows at various levels and at different points in time depending on the durability of the income stream, which includes our assessment of factors such as location (macro and micro markets), tenant quality and lease expirations. Our internal rating analysis presents expected losses in terms of an S&P Global (“S&P”) bond equivalent rating. As the credit risk for commercial mortgage loans increases, we adjust our internal ratings downward with loans in the category “B+ and below” having the highest risk for credit loss. Internal ratings on commercial mortgage loans are updated at least annually and potentially more often for certain loans with material changes in collateral value or occupancy and for loans on an internal “watch list”. Commercial mortgage loans that require more frequent and detailed attention are identified and placed on an internal “watch list”. Among the criteria that would indicate a potential problem are significant negative changes in ratios of loan to value or contract rents to debt service, major tenant vacancies or bankruptcies, borrower sponsorship problems, late payments, delinquent taxes and loan relief/restructuring requests. The amortized cost of our commercial mortgage loan portfolio by credit risk, as determined by our internal rating system expressed in terms of an S&P bond equivalent rating, was as follows: December 31, 2018 Brick and mortar CTL Total (in millions) A- and above $ 12,735.2 $ 84.3 $ 12,819.5 BBB+ thru BBB- 977.3 105.7 1,083.0 BB+ thru BB- 88.3 — 88.3 B+ and below 5.5 — 5.5 Total $ 13,806.3 $ 190.0 $ 13,996.3 December 31, 2017 Brick and mortar CTL Total (in millions) A- and above $ 11,636.2 $ 129.0 $ 11,765.2 BBB+ thru BBB- 934.1 102.4 1,036.5 BB+ thru BB- 89.0 — 89.0 B+ and below 6.3 0.3 6.6 Total $ 12,665.6 $ 231.7 $ 12,897.3 Residential Credit Risk Profile Based on Performance Status Our residential mortgage loan portfolio is monitored based on performance of the loans. Monitoring on a residential mortgage loan increases when the loan is delinquent or earlier if there is an indication of potential impairment. We define non-performing residential mortgage loans as loans 90 days or greater delinquent or on non-accrual status. The amortized cost of our performing and non-performing residential mortgage loans was as follows: December 31, 2018 First liens Home equity Total (in millions) Performing $ 1,340.3 $ 10.8 $ 1,351.1 Non-performing 12.6 4.3 16.9 Total $ 1,352.9 $ 15.1 $ 1,368.0 December 31, 2017 First liens Home equity Total (in millions) Performing $ 1,251.4 $ 16.5 $ 1,267.9 Non-performing 11.5 6.5 18.0 Total $ 1,262.9 $ 23.0 $ 1,285.9 Non-Accrual Mortgage Loans Commercial and residential mortgage loans are placed on non-accrual status if we have concern regarding the collectability of future payments or if a loan has matured without being paid off or extended. Factors considered may include conversations with the borrower, loss of major tenant, bankruptcy of borrower or major tenant, decreased property cash flow for commercial mortgage loans or number of days past due and other circumstances for residential mortgage loans. Based on an assessment as to the collectability of the principal, a determination is made to apply any payments received either against the principal, against the valuation allowance or according to the contractual terms of the loan. When a loan is placed on non-accrual status, the accrued unpaid interest receivable is reversed against interest income. Accrual of interest resumes after factors resulting in doubts about collectability have improved. Residential first lien mortgages in the Chilean market are carried on accrual for a longer period of delinquency than domestic loans, as assessment of collectability is based on the nature of the loans and collection practices in that market. The amortized cost of mortgage loans on non-accrual status was as follows: December 31, 2018 December 31, 2017 (in millions) Residential: First liens $ 10.1 $ 3.9 Home equity 4.3 6.5 Total $ 14.4 $ 10.4 The aging of our mortgage loans, based on amortized cost, was as follows: December 31, 2018 Recorded investment 90 days or 90 days or 30-59 days 60-89 days more past Total more and past due past due due past due Current Total loans accruing (in millions) Commercial-brick and mortar $ — $ — $ — $ — $ 13,806.3 $ 13,806.3 $ — Commercial-CTL — — — — 190.0 190.0 — Residential-first liens 44.3 8.4 12.1 64.8 1,288.1 1,352.9 2.5 Residential-home equity 0.8 0.6 0.4 1.8 13.3 15.1 — Total $ 45.1 $ 9.0 $ 12.5 $ 66.6 $ 15,297.7 $ 15,364.3 $ 2.5 December 31, 2017 Recorded investment 90 days or 90 days or 30-59 days 60-89 days more past Total more and past due past due due past due Current Total loans accruing (in millions) Commercial-brick and mortar $ — $ — $ — $ — $ 12,665.6 $ 12,665.6 $ — Commercial-CTL — — — — 231.7 231.7 — Residential-first liens 37.2 7.9 10.6 55.7 1,207.2 1,262.9 7.6 Residential-home equity 1.9 0.7 0.8 3.4 19.6 23.0 — Total $ 39.1 $ 8.6 $ 11.4 $ 59.1 $ 14,124.1 $ 14,183.2 $ 7.6 Mortgage Loan Valuation Allowance We establish a valuation allowance to provide for the risk of credit losses inherent in our portfolio. The valuation allowance includes loan specific reserves for loans that are deemed to be impaired as well as reserves for pools of loans with similar risk characteristics where a property risk or market specific risk has not been identified but for which we anticipate a loss may occur. Mortgage loans on real estate are considered impaired when, based on current information and events, it is probable we will be unable to collect all amounts due according to contractual terms of the loan agreement. When we determine a loan is impaired, a valuation allowance is established equal to the difference between the carrying amount of the mortgage loan and the estimated value reduced by the cost to sell. Estimated value is based on either the present value of the expected future cash flows discounted at the loan's effective interest rate, the loan's observable market price or fair value of the collateral. Subsequent changes in the estimated value are reflected in the valuation allowance. Amounts on loans deemed to be uncollectible are charged off and removed from the valuation allowance. The change in the valuation allowance provision is included in net realized capital gains (losses) on our consolidated statements of operations. The valuation allowance is maintained at a level believed adequate by management to absorb estimated probable credit losses. Management's periodic evaluation and assessment of the valuation allowance adequacy is based on known and inherent risks in the portfolio, adverse situations that may affect a borrower's ability to repay, the estimated value of the underlying collateral, composition of the loan portfolio, portfolio delinquency information, underwriting standards, peer group information, current economic conditions, loss experience and other relevant factors. The evaluation of our impaired loan component is subjective, as it requires the estimation of timing and amount of future cash flows expected to be received on impaired loans. We review our commercial mortgage loan portfolio and analyze the need for a valuation allowance for any loan that is delinquent for 60 days or more, in process of foreclosure, restructured, on the internal “watch list” or that currently has a valuation allowance. In addition to establishing allowance levels for specifically identified impaired commercial mortgage loans, management determines an allowance for all other loans in the portfolio for which historical experience and current economic conditions indicate certain losses exist. These loans are segregated by risk rating level with an estimated loss ratio applied against each risk rating level. The loss ratio is generally based upon historical loss experience for each risk rating level as adjusted for certain current environmental factors management believes to be relevant. For our residential mortgage loan portfolio, we separate the loans into several homogeneous pools, each of which consist of loans of a similar nature including but not limited to loans similar in collateral, term and structure and loan purpose or type. We evaluate loan pools based on aggregated risk ratings, estimated specific loss potential in the different classes of credits, and historical loss experience by pool type

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2018
Derivative Financial Instruments
Derivative Financial Instruments	5. Derivative Financial Instruments Derivatives are generally used to hedge or reduce exposure to market risks associated with assets held or expected to be purchased or sold and liabilities incurred or expected to be incurred. Derivatives are used to change the characteristics of our asset/liability mix consistent with our risk management activities. Derivatives are also used in asset replication strategies. Types of Derivative Instruments Interest Rate Contracts Interest rate risk is the risk we will incur economic losses due to adverse changes in interest rates. Sources of interest rate risk include the difference between the maturity and interest rate changes of assets with the liabilities they support, timing differences between the pricing of liabilities and the purchase or procurement of assets and changing cash flow profiles from original projections due to prepayment options embedded within asset and liability contracts. We use various derivatives to manage our exposure to fluctuations in interest rates. Interest rate swaps are contracts in which we agree with other parties to exchange, at specified intervals, the difference between fixed rate and/or floating rate interest amounts based upon designated market rates or rate indices and an agreed upon notional principal amount. Generally, no cash is exchanged at the outset of the contract and no principal payments are made by any party. Cash is paid or received based on the terms of the swap. We use interest rate swaps primarily to more closely match the interest rate characteristics of assets and liabilities and to mitigate the risks arising from timing mismatches between assets and liabilities (including duration mismatches). We also use interest rate swaps to hedge against changes in the value of assets we anticipate acquiring and other anticipated transactions and commitments. Interest rate swaps are used to hedge against changes in the value of the guaranteed minimum withdrawal benefit (“GMWB”) liability. The GMWB rider on our variable annuity products provides for guaranteed minimum withdrawal benefits regardless of the actual performance of various equity and/or fixed income funds available with the product. Interest rate options, including interest rate caps and interest rate floors, which can be combined to form interest rate collars, are contracts that entitle the purchaser to pay or receive the amounts, if any, by which a specified market rate exceeds a cap strike interest rate, or falls below a floor strike interest rate, respectively, at specified dates. We use interest rate options to manage prepayment risks in our assets and minimum guaranteed interest rates and lapse risks in our liabilities. A swaption is an option to enter into an interest rate swap at a future date. We have purchased swaptions to offset or modify existing exposures. Swaptions provide us the benefit of the agreed-upon strike rate if the market rates for liabilities are higher, with the flexibility to enter into the current market rate swap if the market rates for liabilities are lower. Swaptions not only hedge against the downside risk, but also allow us to take advantage of any upside benefits. In exchange‑traded futures transactions, we agree to purchase or sell a specified number of contracts, the values of which are determined by the values of designated classes of securities, and to post variation margin on a daily basis in an amount equal to the difference in the daily market values of those contracts. We enter into exchange‑traded futures with regulated futures commissions merchants who are members of a trading exchange. We have used exchange‑traded futures to reduce market risks from changes in interest rates and to alter mismatches between the assets in a portfolio and the liabilities supported by those assets. Foreign Exchange Contracts Foreign currency risk is the risk we will incur economic losses due to adverse fluctuations in foreign currency exchange rates. This risk arises from foreign currency ‑ denominated funding agreements issued to nonqualified institutional investors in the international market, foreign currency ‑ denominated fixed maturity and equity securities, and our international operations, including expected cash flows and potential acquisition and divestiture activity. We use various derivatives to manage our exposure to fluctuations in foreign currency exchange rates. Currency swaps are contracts in which we agree with other parties to exchange, at specified intervals, a series of principal and interest payments in one currency for that of another currency. Generally, the principal amount of each currency is exchanged at the beginning and termination of the currency swap by each party. The interest payments are primarily fixed-to-fixed rate; however, they may also be fixed-to-floating rate or floating-to-fixed rate. These transactions are entered into pursuant to master agreements that provide for a single net payment to be made by one counterparty for payments made in the same currency at each due date. We use currency swaps to reduce market risks from changes in currency exchange rates with respect to investments or liabilities denominated in foreign currencies that we either hold or intend to acquire or sell. Currency forwards are contracts in which we agree with other parties to deliver or receive a specified amount of an identified currency at a specified future date. Typically, the price is agreed upon at the time of the contract and payment for such a contract is made at the specified future date. We use currency forwards to reduce market risks from changes in currency exchange rates with respect to investments or liabilities denominated in foreign currencies that we either hold or intend to acquire or sell. We sometimes use currency forwards to hedge the currency risk associated with a business combination or to hedge certain net equity investments in or expected cash flows from our foreign operations. Currency options are contracts that give the holder the right, but not the obligation to buy or sell a specified amount of the identified currency within a limited period of time at a contracted price. The contracts are net settled in cash, based on the differential in the current foreign exchange rate and the strike price. Purchased and sold options can be combined to form a foreign currency collar where we receive a payment if the foreign exchange rate is below the purchased option strike price and make a payment if the foreign exchange rate is above the sold option strike price. We use currency options to hedge expected cash flows from our foreign operations. Equity Contracts Equity risk is the risk that we will incur economic losses due to adverse fluctuations in common stock prices. We use various derivatives to manage our exposure to equity risk, which arises from products in which the interest we credit is tied to an external equity index as well as products subject to minimum contractual guarantees. We purchase equity call spreads (“option collars”) to hedge the equity participation rates promised to contractholders in conjunction with our fixed deferred annuity and universal life products that credit interest based on changes in an external equity index. We use exchange-traded futures and equity put options to hedge against changes in the value of the GMWB liability related to the GMWB rider on our variable annuity product. The premium associated with certain options is paid quarterly over the life of the option contract. Credit Contracts Credit risk relates to the uncertainty associated with the continued ability of a given obligor to make timely payments of principal and interest. We use credit default swaps to enhance the return on our investment portfolio by providing comparable exposure to fixed income securities that might not be available in the primary market. They are also used to hedge credit exposures in our investment portfolio. Credit derivatives are used to sell or buy credit protection on an identified name or names on an unfunded or synthetic basis in return for receiving or paying a quarterly premium. The premium generally corresponds to a referenced name's credit spread at the time the agreement is executed. In cases where we sell protection, we also buy a quality cash bond to match against the credit default swap, thereby entering into a synthetic transaction replicating a cash security. When selling protection, if there is an event of default by the referenced name, as defined by the agreement, we are obligated to pay the counterparty the referenced amount of the contract and receive in return the referenced security in a principal amount equal to the notional value of the credit default swap. Total return swaps are contracts in which we agree with other parties to exchange, at specified intervals, an amount determined by the difference between the previous price and the current price of a reference asset based upon an agreed upon notional principal amount plus an additional amount determined by the financing spread. We have used futures traded on an exchange (“exchange-traded”) and total return swaps referencing equity indices to hedge our portfolio from potential credit losses related to systemic events. Other Contracts Embedded Derivatives. We purchase or issue certain financial instruments or products that contain a derivative instrument that is embedded in the financial instrument or product. When it is determined that the embedded derivative possesses economic characteristics that are not clearly or closely related to the economic characteristics of the host contract and a separate instrument with the same terms would qualify as a derivative instrument, the embedded derivative is bifurcated from the host instrument for measurement purposes. The embedded derivative, which is reported with the host instrument in the consolidated statements of financial position, is carried at fair value. We had investment contracts in which the return was tied to a leveraged inflation index. We economically hedged the risk associated with these investment contracts. We offer group annuity contracts that have guaranteed separate accounts as an investment option. We also offer funds with embedded fixed-rate guarantees as investment options in our defined contribution plans in Hong Kong. We have structured investment relationships with trusts we have determined to be VIEs, which are consolidated in our financial statements. The notes issued by these trusts include obligations to deliver an underlying security to residual interest holders and the obligations contain an embedded derivative of the forecasted transaction to deliver the underlying security. We have fixed deferred annuities and universal life products that credit interest based on changes in an external equity index. We also have certain variable annuity products with a GMWB rider, which allows the customer to make withdrawals of a specified annual amount, either for a fixed number of years or for the lifetime of the customer, even if the account value is fully exhausted. Declines in the equity markets may increase our exposure to benefits under contracts with the GMWB. We economically hedge the exposure in these contracts, as previously explained. Exposure Our risk of loss is typically limited to the fair value of our derivative instruments and not to the notional or contractual amounts of these derivatives. We are also exposed to credit losses in the event of nonperformance of the counterparties. Our current credit exposure is limited to the value of derivatives that have become favorable to us. This credit risk is minimized by purchasing such agreements from financial institutions with high credit ratings and by establishing and monitoring exposure limits. We also utilize various credit enhancements, including collateral and credit triggers to reduce the credit exposure to our derivative instruments. Derivatives may be exchange-traded or they may be privately negotiated contracts, which are usually referred to as over-the-counter (“OTC”) derivatives. Certain of our OTC derivatives are cleared and settled through central clearing counterparties (“OTC cleared”), while others are bilateral contracts between two counterparties (“bilateral OTC”). Our derivative transactions are generally documented under International Swaps and Derivatives Association, Inc. (“ISDA”) Master Agreements. Management believes that such agreements provide for legally enforceable set-off and close-out netting of exposures to specific counterparties. Under such agreements, in connection with an early termination of a transaction, we are permitted to set off our receivable from a counterparty against our payables to the same counterparty arising out of all included transactions. For reporting purposes, we do not offset fair value amounts of bilateral OTC derivatives for the right to reclaim cash collateral or the obligation to return cash collateral against fair value amounts recognized for derivative instruments executed with the same counterparties under master netting agreements. OTC cleared derivatives have variation margin that is legally characterized as settlement of the derivative exposure, which reduces their fair value in the consolidated statements of financial position. We posted $106.6 million and $195.0 million in cash and securities under collateral arrangements as of December 31, 2018 and December 31, 2017, respectively, to satisfy collateral and initial margin requirements associated with our derivative credit support agreements and FCM agreements. Certain of our derivative instruments contain provisions that require us to maintain an investment grade rating from each of the major credit rating agencies on our debt. If the ratings on our debt were to fall below investment grade, it would be in violation of these provisions and the counterparties to the derivative instruments could request immediate payment or demand immediate and ongoing full overnight collateralization on derivative instruments in net liability positions. The aggregate fair value, inclusive of accrued interest, of all derivative instruments with credit-risk-related contingent features that were in a liability position without regard to netting under derivative credit support annex agreements as of December 31, 2018 and December 31, 2017, was $109.7 million and $280.4 million, respectively. Cleared derivatives have contingent features that require us to post excess margin as required by the FCM. The terms surrounding excess margin vary by FCM agreement. With respect to derivatives containing collateral triggers, we posted collateral and initial margin of $106.6 million and $195.0 million as of December 31, 2018 and December 31, 2017, respectively, in the normal course of business, which reflects netting under derivative agreements. If the credit-risk-related contingent features underlying these agreements were triggered on December 31, 2018, we would be required to post an additional $28.9 million of collateral to our counterparties. As of December 31, 2018 and December 31, 2017, we had received $79.5 million and $124.7 million, respectively, of cash collateral associated with our derivative credit support annex agreements and FCM agreements, for which we recorded a corresponding liability reflecting our obligation to return the collateral. Notional amounts are used to express the extent of our involvement in derivative transactions and represent a standard measurement of the volume of our derivative activity. Notional amounts represent those amounts used to calculate contractual flows to be exchanged and are not paid or received, except for contracts such as currency swaps. Credit exposure represents the gross amount owed to us under derivative contracts as of the valuation date. The notional amounts and credit exposure of our derivative financial instruments by type were as follows: December 31, 2018 December 31, 2017 (in millions) Notional amounts of derivative instruments Interest rate contracts: Interest rate swaps $ 34,393.7 $ 23,543.4 Interest rate options 1,126.9 657.0 Interest rate futures 260.0 236.5 Swaptions — 14.0 Foreign exchange contracts: Currency swaps 898.6 888.6 Currency forwards 863.6 915.5 Currency options 525.2 583.6 Equity contracts: Equity options 1,522.5 3,649.4 Equity futures 491.7 357.8 Credit contracts: Credit default swaps 420.0 668.5 Other contracts: Embedded derivatives 9,452.3 9,402.3 Total notional amounts at end of period $ 49,954.5 $ 40,916.6 Credit exposure of derivative instruments Interest rate contracts: Interest rate swaps $ 95.4 $ 163.4 Interest rate options 16.3 19.8 Foreign exchange contracts: Currency swaps 71.2 79.1 Currency forwards 2.8 24.3 Currency options 1.9 1.6 Equity contracts: Equity options 7.7 18.2 Credit contracts: Credit default swaps 2.4 5.0 Total gross credit exposure 197.7 311.4 Less: collateral received 122.9 159.7 Net credit exposure $ 74.8 $ 151.7 The fair value of our derivative instruments classified as assets and liabilities was as follows: Derivative assets (1) Derivative liabilities (2) December 31, 2018 December 31, 2017 December 31, 2018 December 31, 2017 (in millions) Derivatives designated as hedging instruments Interest rate contracts $ — $ — $ 16.1 $ 22.9 Foreign exchange contracts 37.6 39.6 13.5 36.3 Total derivatives designated as hedging instruments $ 37.6 $ 39.6 $ 29.6 $ 59.2 Derivatives not designated as hedging instruments Interest rate contracts $ 108.0 $ 175.2 $ 22.6 $ 33.6 Foreign exchange contracts 38.4 66.2 72.9 26.3 Equity contracts 7.7 18.2 27.6 154.1 Credit contracts 2.3 4.8 4.4 1.5 Other contracts — — 134.6 413.4 Total derivatives not designated as hedging instruments 156.4 264.4 262.1 628.9 Total derivative instruments $ 194.0 $ 304.0 $ 291.7 $ 688.1 (1) The fair value of derivative assets is reported with other investments on the consolidated statements of financial position. (2) The fair value of derivative liabilities is reported with other liabilities on the consolidated statements of financial position, with the exception of certain embedded derivative liabilities. Embedded derivatives with a net liability fair value of $45.2 million and $160.3 million as of December 31, 2018 and December 31, 2017, respectively, are reported with contractholder funds on the consolidated statements of financial position. Credit Derivatives Sold When we sell credit protection, we are exposed to the underlying credit risk similar to purchasing a fixed maturity security instrument. Our credit derivative contracts sold reference a single name or reference security (referred to as “single name credit default swaps”). These instruments are either referenced in an OTC credit derivative transaction or embedded within an investment structure that has been fully consolidated into our financial statements. These credit derivative transactions are subject to events of default defined within the terms of the contract, which normally consist of bankruptcy, failure to pay, or modified restructuring of the reference entity and/or issue. If a default event occurs for a reference name or security, we are obligated to pay the counterparty an amount equal to the notional amount of the credit derivative transaction. As a result, our maximum future payment is equal to the notional amount of the credit derivative. In certain cases, we also may have purchased credit protection with identical underlyings to certain of our sold protection transactions. As of December 31, 2018 and December 31, 2017, we did not purchase credit protection relating to our sold protection transactions. In certain circumstances, our potential loss could also be reduced by any amount recovered in the default proceedings of the underlying credit name. The following tables show our credit default swap protection sold by types of contract, types of referenced/underlying asset class and external agency rating for the underlying reference security. The maximum future payments are undiscounted and have not been reduced by the effect of any offsetting transactions, collateral or recourse features described above. December 31, 2018 Weighted Maximum average Notional Fair future expected life amount value payments (in years) (in millions) Single name credit default swaps Corporate debt AAA $ 10.0 $ 0.1 $ 10.0 0.7 A 15.0 0.1 15.0 1.0 BBB 190.0 0.4 190.0 1.7 BB 10.0 — 10.0 0.5 CCC 15.0 (3.6) 15.0 0.9 Government/municipalities AA 20.0 0.2 20.0 1.0 Sovereign A 10.0 0.1 10.0 0.7 BBB 55.0 0.4 55.0 1.3 Total credit default swap protection sold $ 325.0 $ (2.3) $ 325.0 1.4 December 31, 2017 Weighted Maximum average Notional Fair future expected life amount value payments (in years) (in millions) Single name credit default swaps Corporate debt AAA $ 30.0 $ 0.3 $ 30.0 1.2 AA 30.0 0.1 30.0 0.5 A 105.0 0.5 105.0 0.6 BBB 255.0 2.5 255.0 1.3 B 20.0 (0.5) 20.0 1.8 Government/municipalities AA 20.0 0.3 20.0 2.0 Sovereign A 10.0 0.2 10.0 1.7 BBB 55.0 0.8 55.0 2.3 Total credit default swap protection sold $ 525.0 $ 4.2 $ 525.0 1.3 Fair Value Hedges We use fixed-to-floating rate interest rate swaps to more closely align the interest rate characteristics of certain assets and have used them to align the interest rate characteristics of certain liabilities. In general, these swaps are used in asset and liability management to modify duration, which is a measure of sensitivity to interest rate changes. The net interest effect of interest rate swap transactions for derivatives in fair value hedges is recorded as an adjustment to income or expense of the underlying hedged item in our consolidated statements of operations. Hedge effectiveness testing for fair value relationships is performed utilizing a regression analysis approach for both prospective and retrospective evaluations. This regression analysis will consider multiple data points for the assessment that the hedge continues to be highly effective in achieving offsetting changes in fair value. In certain periods, the comparison of the change in value of the derivative and the change in the value of the hedged item may not be offsetting at a specific period in time due to small movements in value. However, any amounts recorded as fair value hedges have shown to be highly effective in achieving offsetting changes in fair value both for present and future periods. The following table shows the effect of derivatives in fair value hedging relationships and the related hedged items on the consolidated statements of operations. All gains or losses on derivatives were included in the assessment of hedge effectiveness. Amount of gain (loss) Amount of gain (loss) recognized in net income on recognized in net income on derivatives for the year ended Hedged items in fair related hedged item for the year ended Derivatives in fair value December 31, (1) value hedging December 31, (1) hedging relationships 2018 2017 2016 relationships 2018 2017 2016 (in millions) (in millions) Interest rate contracts $ 6.2 $ 4.7 $ 19.5 Fixed maturities, available-for-sale $ (6.6) $ (5.2) $ (19.2) Interest rate contracts — (0.6) (0.9) Investment contracts — 0.6 1.0 Total $ 6.2 $ 4.1 $ 18.6 Total $ (6.6) $ (4.6) $ (18.2) (1) The gain (loss) on both derivatives and hedged items in fair value relationships is reported in net realized capital gains (losses) on the consolidated statements of operations. The net amount represents the ineffective portion of our fair value hedges. The following table shows the periodic settlements on interest rate contracts and foreign exchange contracts in fair value hedging relationships. Amount of gain (loss) for the year ended December 31, Hedged item 2018 2017 2016 (in millions) Fixed maturities, available-for-sale (1) $ (5.9) $ (10.3) $ (41.9) Investment contracts (2) — 0.9 2.6 (1) (2) Cash Flow Hedges We utilized floating-to-fixed rate interest rate swaps to eliminate the variability in cash flows of recognized financial assets and liabilities and forecasted transactions. We enter into currency exchange swap agreements to convert both principal and interest payments of certain foreign denominated assets and liabilities into U.S. dollar denominated fixed-rate instruments to eliminate the exposure to future currency volatility on those items. The net interest effect of interest rate swap and currency swap transactions for derivatives in cash flow hedges is recorded as an adjustment to income or expense of the underlying hedged item in our consolidated statements of operations. The maximum length of time we are hedging our exposure to the variability in future cash flows for forecasted transactions, excluding those related to the payments of variable interest on existing financial assets and liabilities, is 1.5 years. As of December 31, 2018, we had $0.0 million of net gains reported in AOCI on the consolidated statements of financial position related to active hedges of forecasted transactions. If a hedged forecasted transaction is no longer probable of occurring, cash flow hedge accounting is discontinued. If it is probable that the hedged forecasted transaction will not occur, the deferred gain or loss is immediately reclassified from AOCI into net income. We reclassified $0.3 million and $0.2 million from AOCI into net realized capital gains (losses) as a result of the determination that hedged cash flows were probable of not occurring during 2018 and 2017, respectively. The following table shows the effect of derivatives in cash flow hedging relationships on the consolidated statements of operations and consolidated statements of financial position. All gains or losses on derivatives were included in the assessment of hedge effectiveness. Amount of gain (loss) Amount of gain (loss) recognized in AOCI on reclassified from AOCI on derivatives (effective portion) Location of gain (loss) derivatives (effective portion) for the year ended reclassified from for the year ended Derivatives in cash flow Related December 31, AOCI into net income December 31, hedging relationships hedged item 2018 2017 2016 (effective portion) 2018 2017 2016 (in millions) (in millions) Interest rate contracts Fixed maturities, available-for-sale $ 36.7 $ (51.7) $ (33.1) Net investment income $ 20.9 $ 21.0 $ 19.3 Net realized capital gains (losses) 17.0 (0.6) 11.2 Interest rate contracts Investment contracts — — 1.6 Benefits, claims and settlement expenses (0.1) — — Interest rate contracts Debt — — — Operating expense (10.7) (10.8) (9.2) Foreign exchange contracts Fixed maturities, available-for-sale 20.8 (68.5) 4.0 Net realized capital gains 12.7 22.0 6.4 Foreign exchange contracts Investment contracts (0.1) — 6.0 Benefits, claims and settlement expenses — — — Total $ 57.4 $ (120.2) $ (21.5) Total $ 39.8 $ 31.6 $ 27.7 The following table shows the periodic settlements on interest rate contracts and foreign exchange contracts in cash flow hedging relationships. Amount of gain (loss) for the year ended December 31, Hedged item 2018 2017 2016 (in millions) Fixed maturities, available-for-sale (1) $ 6.0 $ 7.1 $ 5.8 Investment contracts (2) (0.1) (1.1) (15.7) (1) Reported in net investment income on the consolidated statements of operations. (2) Reported in benefits, claims and settlement expenses on the consolidated statements of operations. The ineffective portion of our cash flow hedges is reported in net realized capital gains (losses) on the consolidated statements of operations. The net gain (loss) resulting from the ineffective portion of derivatives in cash flow hedging relationships was insignificant for the years ended December 31, 2018, 2017 and 2016. We expect to reclassify net gains of $20.8 million from AOCI into net income in the next 12 months, which includes both net deferred gains on discontinued hedges and net losses on periodic settlements of active hedges. Actual amounts may vary from this amount as a result of market conditions. Derivatives Not Designated as Hedging Instruments Our use of futures, certain swaptions and swaps, option collars, options and forwards are effective from an economic standpoint, but they have not been designated as hedges for financial reporting purposes. As such, periodic changes in the market value of these instruments, which includes mark-to-market gains and losses as well as periodic and final settlements, primarily flow directly into net realized capital gains (losses) on the consolidated statements of operations. The following table shows the effect of derivatives not designated as hedging instruments, including fair value changes of embedded derivatives that have been bifurcated from the host contract, on the consolidated statements of operations. Amount of gain (loss) recognized in net income on derivatives for the year ended December 31, Derivatives not designated as hedging instruments 2018 2017 2016 (in millions) Interest rate contracts $ (27.6) $ (26.9) $ 243.3 Foreign exchange contracts (64.2) 59.4 20.1 Equity contracts (31.0) (181.3) (123.5) Credit contracts (1.6) (15.9) 37.4 Other contracts 108.5 11.5 (4.8) Total $ (15.9) $ (153.2) $ 172.5

Closed Block

Closed Block	12 Months Ended
	Dec. 31, 2018
Closed Block
Closed Block	6. Closed Block In connection with the 1998 MIHC formation, Principal Life formed a Closed Block to provide reasonable assurance to policyholders included therein that, after the formation of the MIHC, assets would be available to maintain dividends in aggregate in accordance with the 1997 policy dividend scales, if the experience underlying such scales continued. Assets of Principal Life were allocated to the Closed Block in an amount that produces cash flows which, together with anticipated revenue from policies and contracts included in the Closed Block, were expected to be sufficient to support the Closed Block policies. This includes, but is not limited to, provisions for payment of claims, certain expenses, charges and taxes, and to provide for continuation of policy and contract dividends in aggregate in accordance with the 1997 dividend scales, if the experience underlying such scales continues, and to allow for appropriate adjustments in such scales, if such experience changes. Due to adjustable life policies being included in the Closed Block, the Closed Block is charged with amounts necessary to properly fund for certain adjustments, such as face amount and premium increases, that are made to these policies after the Closed Block inception date. These amounts are referred to as Funding Adjustment Charges and are treated as capital transfers from the Closed Block. Assets allocated to the Closed Block inure solely to the benefit of the holders of policies included in the Closed Block. Closed Block assets and liabilities are carried on the same basis as other similar assets and liabilities. Principal Life will continue to pay guaranteed benefits under all policies, including the policies within the Closed Block, in accordance with their terms. If the assets allocated to the Closed Block, the investment cash flows from those assets and the revenues from the policies included in the Closed Block, including investment income thereon, prove to be insufficient to pay the benefits guaranteed under the policies included in the Closed Block, Principal Life will be required to make such payments from its general funds. No additional policies were added to the Closed Block, nor was the Closed Block affected in any other way, as a result of the demutualization. A policyholder dividend obligation (“PDO”) is required to be established for earnings in the Closed Block that are not available to stockholders. A model of the Closed Block was established to produce the pattern of expected earnings, assets and liabilities in the Closed Block, adjusted to eliminate the impact of related amounts in AOCI. These projections are utilized to determine ratios that will allow us to compare actual cumulative earnings to expected cumulative earnings. If actual cumulative earnings of the Closed Block are greater than the expected cumulative earnings of the Closed Block, only the expected cumulative earnings will be recognized in income with the excess recorded as a PDO. This PDO represents undistributed accumulated earnings that will be paid to Closed Block policyholders as dividends unless offset by future performance of the Closed Block that is less favorable than originally expected. If actual cumulative performance is less favorable than expected, only actual earnings will be recognized in income. As of both December 31, 2018 and 2017, cumulative actual earnings were less than cumulative expected earnings. As of December 31, 2018 and 2017, cumulative net unrealized gains were greater than expected, resulting in the recognition of a PDO of $36.6 million and $161.7 million, respectively. Closed Block liabilities and assets designated to the Closed Block were as follows: December 31, 2018 December 31, 2017 (in millions) Closed Block liabilities Future policy benefits and claims $ 3,732.5 $ 3,899.7 Other policyholder funds 6.5 7.0 Policyholder dividends payable 211.3 219.6 Policyholder dividends obligation 36.6 161.7 Other liabilities 9.5 6.9 Total Closed Block liabilities 3,996.4 4,294.9 Assets designated to the Closed Block Fixed maturities, available-for-sale 2,176.4 2,304.4 Fixed maturities, trading 2.5 2.9 Equity securities 1.0 1.3 Mortgage loans 678.5 766.3 Policy loans 510.5 537.1 Other investments 33.8 49.4 Total investments 3,402.7 3,661.4 Cash and cash equivalents 42.1 13.2 Accrued investment income 39.5 41.1 Premiums due and other receivables 10.0 14.4 Deferred tax asset 30.5 34.6 Total assets designated to the Closed Block 3,524.8 3,764.7 Excess of Closed Block liabilities over assets designated to the Closed Block 471.6 530.2 Amounts included in accumulated other comprehensive income 5.2 1.9 Maximum future earnings to be recognized from Closed Block assets and liabilities $ 476.8 $ 532.1 Closed Block revenues and expenses were as follows: For the year ended December 31, 2018 2017 2016 (in millions) Revenues Premiums and other considerations $ 244.2 $ 275.6 $ 298.0 Net investment income 160.5 169.4 181.6 Net realized capital losses (3.4) (5.8) (1.0) Total revenues 401.3 439.2 478.6 Expenses Benefits, claims and settlement expenses 211.5 245.6 267.1 Dividends to policyholders 120.9 122.0 153.5 Operating expenses 3.3 3.5 3.6 Total expenses 335.7 371.1 424.2 Closed Block revenues, net of Closed Block expenses, before income taxes 65.6 68.1 54.4 Income taxes 11.1 46.0 17.1 Closed Block revenues, net of Closed Block expenses and income taxes 54.5 22.1 37.3 Funding adjustments (0.5) (4.4) 9.3 Closed Block revenues, net of Closed Block expenses, income taxes and funding adjustments $ 54.0 $ 17.7 $ 46.6 The change in maximum future earnings of the Closed Block was as follows: For the year ended December 31, 2018 2017 2016 (in millions) Beginning of year $ 532.1 $ 549.8 $ 596.4 Effects of implementation of accounting changes (1) 1.3 — — End of year 476.8 532.1 549.8 Change in maximum future earnings $ (54.0) $ (17.7) $ (46.6) (1) Includes the effects of implementation of accounting changes related to equity investments and the reclassification of certain tax effects. Principal Life charges the Closed Block with U.S. federal income taxes, payroll taxes, state and local premium taxes and other state or local taxes, licenses and fees as provided in the plan of reorganization.

Deferred Acquisition Costs

Deferred Acquisition Costs	12 Months Ended
	Dec. 31, 2018
Deferred Acquisition Costs
Deferred Acquisition Costs	7. Deferred Acquisition Costs Acquisition costs deferred and amortized were as follows: For the year ended December 31, 2018 2017 2016 (in millions) Balance at beginning of year $ 3,540.7 $ 3,380.2 $ 3,276.1 Costs deferred during the year 414.9 421.8 402.3 Amortized to expense during the year (1) (253.5) (234.6) (285.1) Adjustment related to unrealized (gains) losses on available-for-sale securities and derivative instruments 184.9 (26.7) (13.1) Other (2) (193.5) — — Balance at end of year $ 3,693.5 $ 3,540.7 $ 3,380.2 (1) Includes adjustments for revisions to estimated gross profits. (2) Reflects the impact of capitalized costs written off or transferred from DAC to a contract cost asset as a result of adopting revenue recognition guidance. See Note 1, Nature of Operations and Significant Accounting Policies, under the caption “Adoption of Revenue Recognition Guidance” for further details.

Insurance Liabilities

Insurance Liabilities	12 Months Ended
	Dec. 31, 2018
Insurance Liabilities
Insurance Liabilities	8. Insurance Liabilities Contractholder Funds Major components of contractholder funds in the consolidated statements of financial position were as follows: December 31, 2018 2017 (in millions) Liabilities for investment contracts: Liabilities for individual annuities $ 12,913.9 $ 11,336.2 GICs 10,321.7 9,969.1 Funding agreements 7,729.5 8,106.5 Other investment contracts 1,652.2 1,751.5 Total liabilities for investment contracts 32,617.3 31,163.3 Universal life and other reserves 7,082.4 6,919.2 Total contractholder funds $ 39,699.7 $ 38,082.5 Our GICs and funding agreements contain provisions limiting or prohibiting early surrenders, which typically include penalties for early surrenders, minimum notice requirements or, in the case of funding agreements with survivor options, minimum pre-death holding periods and specific maximum amounts. Funding agreements include those issued directly to nonqualified institutional investors and those issued to the FHLB Des Moines under their membership funding programs. As of December 31, 2018 and 2017, $3,512.2 million and $3,256.7 million, respectively, of liabilities were outstanding with respect to issuances under the program with FHLB Des Moines. In addition, we have five separate programs where the funding agreements have been issued directly or indirectly to unconsolidated special purpose entities. Claims for principal and interest under funding agreements are afforded equal priority to claims of life insurance and annuity policyholders under insolvency provisions of Iowa Insurance Laws. Principal Life was authorized to issue up to $4.0 billion of funding agreements under a program established in 1998 to support the prospective issuance of medium term notes by an unaffiliated entity in non-U.S. markets. As of December 31, 2018 and 2017, $109.6 million and $111.1 million, respectively, of liabilities were outstanding with respect to the issuance outstanding under this program. Principal Life was also authorized to issue up to Euro 4.0 billion (approximately USD$5.3 billion) of funding agreements under a program established in 2006 to support the prospective issuance of medium term notes by an unaffiliated entity in non-U.S. markets. The unaffiliated entity is an unconsolidated special purpose entity. As of December 31, 2018 and 2017, $114.4 million and $177.4 million, respectively, of liabilities were outstanding with respect to issuances outstanding under this program. Principal Life does not anticipate any new issuance activity under either of these programs due to the existence of the program established in 2011 described below. In addition, Principal Life was authorized to issue up to $7.0 billion of funding agreements under a program established in 2001 to support the prospective issuance of medium term notes by an unaffiliated entity in both domestic and international markets. The unaffiliated entity is an unconsolidated special purpose entity. As of December 31, 2018 and 2017, $201.6 million and $201.6 million, respectively, of liabilities were being held with respect to issuances outstanding under this program. Principal Life does not anticipate any new issuance activity under this program, given our December 2005 termination of the dealership agreement for this program and the availability of the program established in 2011 described below. Additionally, Principal Life was authorized to issue up to $9.0 billion of funding agreements under a program that was originally established in March 2004 to support the prospective issuance of medium term notes by unaffiliated entities in both domestic and international markets. Under this program, both the notes and the supporting funding agreements were registered with the United States Securities and Exchange Commission (“SEC”). As of December 31, 2018 and 2017, $26.2 million and $67.8 million, respectively, of liabilities were being held with respect to issuances outstanding under this program. In contrast with direct funding agreements, GIC issuances and the other three funding agreement‑backed medium term note programs described above, Principal Life's payment obligations on each funding agreement issued under this SEC-registered program are guaranteed by PFG. Principal Life does not anticipate any new issuance activity under this program due to the existence of the program established in 2011 described below. Principal Life was authorized to issue up to $5.0 billion of funding agreements under a program that was originally established in 2011 to support the prospective issuance of medium term notes by an unaffiliated entity in both domestic and international markets. The unaffiliated entity is an unconsolidated special purpose entity. In June 2015, this program was amended to authorize issuance of up to an additional $4.0 billion in recognition of the use of nearly all $5.0 billion of existing issuance authorization. In November 2017, this program was amended to authorize issuance of up to an additional $4.0 billion. As of December 31, 2018 and 2017, $3,765.3 million and $4,291.9 million, respectively, of liabilities were being held with respect to issuances outstanding under this program. Similar to the SEC-registered program, Principal Life’s payment obligations on each funding agreement issued under this program are guaranteed by PFG. The program established in 2011 is not registered with the SEC. Liability for Unpaid Claims The liability for unpaid claims is reported in future policy benefits and claims within our consolidated statements of financial position. Activity associated with unpaid claims was as follows: For the year ended December 31, 2018 2017 2016 (in millions) Balance at beginning of year $ 2,130.5 $ 2,001.3 $ 1,872.2 Less: reinsurance recoverable 375.8 340.3 314.1 Net balance at beginning of year 1,754.7 1,661.0 1,558.1 Incurred: Current year 1,268.8 1,196.6 1,103.5 Prior years 0.3 18.2 24.4 Total incurred 1,269.1 1,214.8 1,127.9 Payments: Current year 815.7 767.2 701.9 Prior years 359.7 353.9 323.1 Total payments 1,175.4 1,121.1 1,025.0 Net balance at end of year 1,848.4 1,754.7 1,661.0 Plus: reinsurance recoverable 404.3 375.8 340.3 Balance at end of year $ 2,252.7 $ 2,130.5 $ 2,001.3 Amounts not included in the rollforward above: Claim adjustment expense liabilities $ 54.6 $ 50.7 $ 49.3 Incurred liability adjustments relating to prior years, which affected current operations during 2018, 2017 and 2016, resulted in part from developed claims for prior years being different than were anticipated when the liabilities for unpaid claims were originally estimated. These trends have been considered in establishing the current year liability for unpaid claims. Short-Duration Contracts Claims Development The following tables present undiscounted information about claims development by incurral year, including separate information about incurred claims and paid claims net of reinsurance for the periods indicated. The tables also include information on incurred but not reported claims and the cumulative number of reported claims. The tables present information for the number of years for which claims incurred typically remain outstanding, but do not exceed ten years. The data is disaggregated into groupings of claims with similar characteristics, such as duration of the claim payment period and average claim amount, and with consideration to the overall size of the groupings. Outstanding liabilities equal total net incurred claims less total net paid claims plus outstanding liabilities for net unpaid claims of prior years. LTD and Group Life Waiver Claims Incurred Cumulative but not number of reported reported Net incurred claims (1) claims claims December 31, 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2018 2018 ($ in millions) Incurral year 2009 $ 218.6 $ 224.4 $ 224.2 $ 224.8 $ 217.7 $ 214.1 $ 208.5 $ 205.8 $ 205.6 $ 203.9 $ 0.7 6,555 2010 184.1 176.7 176.2 172.0 162.7 155.7 154.1 153.4 152.1 0.6 5,649 2011 203.7 192.6 185.4 184.8 178.4 172.3 169.6 167.6 0.1 6,289 2012 217.9 200.0 191.1 189.5 181.8 174.8 173.3 0.1 6,443 2013 219.3 203.3 188.4 190.7 182.3 179.5 0.1 7,047 2014 242.2 231.4 214.4 218.1 206.2 0.1 7,595 2015 231.0 227.2 217.2 215.3 5.1 7,170 2016 229.8 228.4 219.4 7.0 6,144 2017 238.4 239.7 3.1 5,991 2018 239.4 85.4 3,516 Total net incurred claims $ 1,996.4 Net cumulative paid claims (1) December 31, 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 (in millions) Incurral year 2009 $ 13.4 $ 55.2 $ 82.6 $ 101.0 $ 113.8 $ 124.6 $ 133.1 $ 141.8 $ 149.8 $ 156.4 2010 10.4 46.5 67.1 78.4 85.9 94.2 100.9 107.2 112.1 2011 11.2 50.0 72.5 85.7 95.4 105.2 112.6 119.3 2012 13.8 55.1 80.8 93.7 104.6 112.9 120.0 2013 12.5 55.0 81.4 97.0 106.4 116.4 2014 16.1 66.0 96.3 111.8 122.3 2015 16.9 67.0 98.0 114.6 2016 16.2 70.6 105.6 2017 17.8 76.5 2018 20.1 Total net paid claims 1,063.3 All outstanding liabilities for unpaid claims prior to 2009 net of reinsurance 237.4 Total outstanding liabilities for unpaid claims net of reinsurance $ 1,170.5 (1) 2009-2017 unaudited. Dental, Vision, STD, Critical Illness and Accident Claims Incurred Cumulative but not number of reported reported Net incurred claims(1) claims claims December 31, 2017 2018 2018 2018 ($ in millions) Incurral year 2017 $ 595.8 $ 590.6 $ — 2,786,877 2018 648.3 35.9 2,893,347 Total net incurred claims $ 1,238.9 Net cumulative paid claims(1) December 31, 2017 2018 (in millions) Incurral year 2017 $ 542.3 $ 590.5 2018 589.1 Total net paid claims 1,179.6 All outstanding liabilities for unpaid claims prior to 2017 net of reinsurance — Total outstanding liabilities for unpaid claims net of reinsurance $ 59.3 (1) 2017 unaudited. Group Life Claims Incurred Cumulative but not number of reported reported Net incurred claims(1) claims claims December 31, 2017 2018 2018 2018 ($ in millions) Incurral year 2017 $ 239.8 $ 237.6 $ 0.7 5,618 2018 239.6 22.0 4,735 Total net incurred claims $ 477.2 Net cumulative paid claims(1) December 31, 2017 2018 (in millions) Incurral year 2017 $ 195.2 $ 236.0 2018 193.9 Total net paid claims 429.9 All outstanding liabilities for unpaid claims prior to 2017 net of reinsurance 1.0 Total outstanding liabilities for unpaid claims net of reinsurance $ 48.3 (1) 2017 unaudited. Reconciliation of Unpaid Claims to Liability for Unpaid Claims Our reconciliation of net outstanding liabilities for unpaid claims of short-duration contracts to the liability for unpaid claims follows: December 31, 2018 Dental, Vision, STD, LTD and Group Life Critical Illness and Waiver Accident Group Life Consolidated (in millions) Net outstanding liabilities for unpaid claims $ 1,170.5 $ 59.3 $ 48.3 $ 1,278.1 Reconciling items: Reinsurance recoverable on unpaid claims 67.2 — 1.4 68.6 Impact of discounting (217.7) — — (217.7) Liability for unpaid claims - short-duration contracts $ 1,020.0 $ 59.3 $ 49.7 1,129.0 Insurance contracts other than short-duration 1,123.7 Liability for unpaid claims $ 2,252.7 Claim Duration and Payout Our historical average percentage of claims paid in each year from incurral was as follows: December 31, 2018 (1) Dental, Vision, STD, LTD and Critical Group Life Illness and Group Year Waiver Accident Life 1 7.4 % 91.8 % 81.8 % 2 23.6 8.0 17.2 3 14.4 4 8.0 5 5.6 6 5.4 7 4.3 8 4.1 9 3.6 10 3.2 (1) Unaudited. Discounting The following table provides the carrying amount of liabilities reported at present value for short-duration contract unpaid claims. We use a range of discount rates to derive the present value of the unpaid claims. The ranges of discount rates as well as the aggregate amount of discount deducted to derive the liabilities for unpaid claims and interest accretion recognized are also disclosed. Interest accretion is included in benefits, claims and settlement expenses within our consolidated statements of operations. Dental, Vision, STD, LTD and Group Critical Illness and Life Waiver Accident Group Life ($ in millions) Carrying amount of liabilities for unpaid claims December 31, 2018 $ 1,020.0 $ 59.3 $ 49.7 December 31, 2017 1,003.2 53.6 47.3 Range of discount rates December 31, 2018 3.3 - 7.0 % — - — % — - — % December 31, 2017 3.3 - 7.0 — - — — - — Aggregate amount of discount December 31, 2018 $ 217.7 $ — $ — December 31, 2017 226.2 — — Interest accretion For the year ended: December 31, 2018 $ 34.5 $ — $ — December 31, 2017 35.0 — — December 31, 2016 36.3 — —

Debt

Debt	12 Months Ended
	Dec. 31, 2018
Debt
Debt	9. Debt Short-Term Debt The components of short-term debt were as follows: December 31, 2018 Financing Short-term debt Obligor/Applicant structure Maturity Capacity outstanding (in millions) PFG, Principal Financial Services, Inc. ("PFS"), Principal Life as co-borrowers Credit facility November 2023 $ 600.0 $ — PFG, PFS, Principal Life and Principal Financial Services V (UK) LTD as co-borrowers Credit facility November 2023 200.0 — Principal International Chile Unsecured lines of credit 141.4 42.9 Principal Life Unsecured line of credit September 2019 60.0 — Total $ 1,001.4 $ 42.9 December 31, 2017 Financing Short-term debt Obligor/Applicant structure Maturity Capacity outstanding (in millions) PFG, PFS, Principal Life as co-borrowers Credit facility March 2022 $ 600.0 $ — PFG, PFS, Principal Life and Principal Financial Services V (UK) LTD as co-borrowers Credit facility March 2022 189.0 — PFG, PFS, Principal Life and Principal Financial Services V (UK) LTD as co-borrowers Credit facility March 2020 11.0 — Principal International Chile Unsecured lines of credit 107.3 39.5 Principal Life Unsecured line of credit December 2018 45.0 — Total $ 952.3 $ 39.5 Our revolving credit facilities are committed and available for general corporate purposes. Our commercial paper programs require 100% back-stop support, of which we had no outstanding balances as of December 31, 2018 and 2017. The weighted-average interest rate on short-term borrowings as of December 31, 2018 and 2017, was 3.9% and 4.7%, respectively. Long-Term Debt The components of long-term debt were as follows: December 31, 2018 Principal Net unamortized Carrying (in millions) 3.3% notes payable, due 2022 $ 300.0 $ (1.5) $ 298.5 3.125% notes payable, due 2023 300.0 (1.2) 298.8 3.4% notes payable, due 2025 400.0 (3.0) 397.0 3.1% notes payable, due 2026 350.0 (2.7) 347.3 6.05% notes payable, due 2036 505.6 (2.6) 503.0 4.625% notes payable, due 2042 300.0 (3.3) 296.7 4.35% notes payable, due 2043 300.0 (3.3) 296.7 4.3% notes payable, due 2046 300.0 (3.3) 296.7 4.7% notes payable, due 2055 400.0 (4.9) 395.1 Non-recourse mortgages and notes payable 128.5 1.3 129.8 Total long-term debt $ 3,284.1 $ (24.5) $ 3,259.6 December 31, 2017 Principal Net unamortized Carrying (in millions) 3.3% notes payable, due 2022 $ 300.0 $ (1.9) $ 298.1 3.125% notes payable, due 2023 300.0 (1.5) 298.5 3.4% notes payable, due 2025 400.0 (3.5) 396.5 3.1% notes payable, due 2026 350.0 (3.1) 346.9 6.05% notes payable, due 2036 505.6 (2.7) 502.9 4.625% notes payable, due 2042 300.0 (3.3) 296.7 4.35% notes payable, due 2043 300.0 (3.4) 296.6 4.3% notes payable, due 2046 300.0 (3.4) 296.6 4.7% notes payable, due 2055 400.0 (5.0) 395.0 Non-recourse mortgages and notes payable 49.0 1.6 50.6 Total long-term debt $ 3,204.6 $ (26.2) $ 3,178.4 Net discount, premium and issuance costs associated with issuing these notes are amortized to expense over the respective terms using the interest method. On November 10, 2016, we issued $650.0 million of senior notes. We issued a $350.0 million series of notes that bear interest at 3.1% and will mature in 2026 and a $300.0 million series of notes that bear interest at 4.3% and will mature in 2046. Interest on the notes is payable semi-annually on May 15 and November 15 each year, beginning on May 15, 2017. The proceeds from these notes were used to redeem our notes payable due in 2017 and 2019. We incurred a one-time cost to extinguish this debt before the scheduled maturity date. On May 7, 2015, we issued $400.0 million of senior notes. The notes bear interest at 3.4% and will mature in 2025. Interest on the notes is payable semi-annually on May 15 and November 15 each year, beginning on November 15, 2015. In addition, on May 7, 2015, we issued $400.0 million of junior subordinated notes, which are subordinated to all our senior debt. The notes are callable in 2020 and have a maturity date in 2055. The notes initially bear a fixed rate of interest at 4.7% and convert to a floating rate at the date the notes become callable. Interest on the notes is payable semi-annually on May 15 and November 15 each year. After the call date the notes will bear interest at 3-month LIBOR plus 3.044%, reset quarterly and payable in arrears in February, May, August and November each year. We have the right to defer interest payments on the junior subordinated notes for up to 5 years without resulting in a default, during which time interest will be compounded. The proceeds from these notes were used to redeem preferred stock, with the remainder available for general corporate purposes. On November 16, 2012, we issued $900.0 million of senior notes. We issued a $300.0 million series of notes that bore interest at 1.85% and were to mature in 2017. These notes were repaid following our November 2016 debt issuance. We issued a $300.0 million series of notes that bear interest at 3.125% and will mature in 2023 and a $300.0 million series of notes that bear interest at 4.35% and will mature in 2043. Interest on the notes is payable semi-annually on May 15 and November 15 each year, beginning on May 15, 2013. The proceeds were used to fund our acquisition of Cuprum. On September 5, 2012, we issued $600.0 million of senior notes. We issued a $300.0 million series of notes that bear interest at 3.3% and will mature in 2022 and a $300.0 million series of notes that bear interest at 4.625% and will mature in 2042. Interest on the notes is payable semi-annually on March 15 and September 15 each year, beginning on March 15, 2013. The proceeds were used for the repayment of the $400.0 million aggregate principal amount of notes due in 2014 and to partially fund our acquisition of Cuprum. On May 18, 2009, we issued $750.0 million of senior notes. We issued a $400.0 million series of notes that bore interest at 7.875% and were to mature on May 15, 2014. These notes were repaid following our November 2012 debt issuance. We issued a $350.0 million series of notes that bore interest at 8.875% and were to mature on May 15, 2019. These notes were repaid following our November 2016 debt issuance. Interest on the notes was payable semi-annually on May 15 and November 15 each year, beginning on November 15, 2009. The proceeds were primarily used to refinance $440.9 million of notes that matured on August 15, 2009, with the remaining proceeds being used for general corporate purposes. On October 16 and December 5, 2006, we issued $500.0 million and $100.0 million, respectively, of senior notes. The notes bear interest at a rate of 6.05% per year. Interest on the notes is payable semi-annually on April 15 and October 15 each year and began on April 15, 2007. The notes will mature on October 15, 2036. A portion of the proceeds were used to fund the 2006 acquisition of WM Advisors, Inc., with the remaining proceeds being used for general corporate purposes. A tender offer in the fourth quarter of 2016 resulted in redemption of $94.4 million of the senior notes. We incurred a one-time cost to extinguish this debt before the scheduled maturity date. The non-recourse mortgages and notes payable are primarily financings for real estate developments. Outstanding principal balances as of December 31, 2018, ranged from $3.8 million to $58.4 million per development with interest rates ranging from 3.9% to 4.8%. Outstanding principal balances as of December 31, 2017, ranged from $2.8 million to $16.4 million per development with interest rates ranging from 3.9% to 4.8%. Outstanding debt is secured by the underlying real estate properties, which were reported as real estate on our consolidated statements of financial position with a carrying value of $307.3 million and $179.6 million as of December 31, 2018 and 2017, respectively. As of December 31, 2018, future annual maturities of long-term debt were as follows (in millions): Year ending December 31: 2019 $ 26.7 2020 59.8 2021 — 2022 298.5 2023 298.8 Thereafter 2,575.8 Total future maturities of long-term debt $ 3,259.6 Contingent Funding Agreements for Senior Debt Issuance On March 8, 2018, we entered into two contingent funding agreements: (1) a 10-year contingent funding agreement with a Delaware trust (“2028 Trust”) formed by us in connection with the sale by the trust of $400.0 million pre-capitalized trust securities redeemable February 15, 2028 ("2028 P-Caps") in a Rule 144A private placement and (2) a 30-year contingent funding agreement with a Delaware trust (“2048 Trust”) formed by us in connection with the sale by the trust of $350.0 million pre-capitalized trust securities redeemable February 15, 2048 ("2048 P-Caps") in a Rule 144A private placement. The trusts invested the proceeds from the sale of the 2028 P-Caps and 2048 P-Caps in a portfolio of principal and interest strips of U.S. Treasury securities. The contingent funding agreements provide us a put option that gives us the right to sell at any time: (1) to the 2028 Trust up to $400.0 million of its 4.111% Senior Notes due 2028 ("4.111% Senior Notes") and (2) to the 2048 Trust up to $350.0 million of its 4.682% Senior Notes due 2048 (“4.682% Senior Notes”) and receive in exchange a corresponding amount of the principal and interest strips of U.S. Treasury securities held by the trusts. The 4.111% Senior Notes and 4.682% Senior Notes will not be issued unless and until a put option is exercised. We agreed to pay a semi-annual put premium of 1.275% and 1.580% per annum on the unexercised portion of the put option to the 2028 Trust and 2048 Trust, respectively, and to reimburse the trusts for expenses. The put option premiums are recorded in operating expenses in the consolidated statements of operations. The 4.111% Senior Notes and 4.682% Senior Notes will be fully, irrevocably and unconditionally guaranteed by PFS. In addition, our obligations under the put option agreement and the expense reimbursement agreement with the trusts are also guaranteed by PFS. The contingent funding agreements with the trusts provide us with a source of liquid assets, which could be used to meet future financial obligations or to provide additional capital. The put options described above will be exercised automatically in full if we fail to make certain payments to the trusts, including any failure to pay the put option premium or expense reimbursements when due, if such failure is not cured within 30 days, and upon certain bankruptcy events involving us or PFS. We are also required to exercise the put option in full: (i) if we reasonably believe that our consolidated shareholders’ equity, calculated in accordance with U.S. GAAP but excluding AOCI and noncontrolling interest, has fallen below $4.0 billion, subject to adjustment in certain cases; (ii) upon the occurrence of an event of default under the 4.111% Senior Notes and 4.682% Senior Notes; and (iii) if certain events occur relating to each trust’s status as an "investment company" under the Investment Company Act of 1940. In addition, we are required to purchase from the trusts any principal and interest strips of U.S. Treasury securities that are due and not paid. We have an unlimited right to unwind a prior voluntary exercise of the put options by repurchasing all of the 4.111% Senior Notes and 4.682% Senior Notes held by the trusts in exchange for a corresponding amount of principal and interest strips of U.S. Treasury securities. If the put options have been fully exercised, the 4.111% Senior Notes and 4.682% Senior Notes issued may be redeemed by us prior to their maturity at par or, if greater, at a make-whole redemption price, in each case plus accrued and unpaid interest to the date of redemption. The 2028 P-Caps are to be redeemed by the 2028 Trust on February 15, 2028, or upon any early redemption of the 4.111% Senior Notes. The 2048 P-Caps are to be redeemed by the 2048 Trust on February 15, 2048, or upon any early redemption of the 4.682% Senior Notes.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Taxes
Income Taxes	10. Income Taxes Income Taxes (Benefits) Our income taxes (benefit) were as follows: For the year ended December 31, 2018 2017 2016 (in millions) Current income taxes (benefits): U.S. federal $ (48.9) $ (4.4) $ 38.6 State 10.3 48.9 (1.9) Foreign 51.7 38.1 36.6 Tax benefit of operating loss carryforward (13.5) (21.5) (17.5) Total current income taxes (benefits) (0.4) 61.1 55.8 Deferred income taxes (benefits): U.S. federal 224.3 (208.2) 171.7 State 19.2 42.5 (20.6) Foreign (12.4) 32.3 23.0 Total deferred income taxes (benefits) 231.1 (133.4) 174.1 Income taxes (benefits) $ 230.7 $ (72.3) $ 229.9 Our income before income taxes was as follows: For the year ended December 31, 2018 2017 2016 (in millions) Domestic $ 1,658.1 $ 1,848.5 $ 1,261.4 Foreign 126.3 403.7 330.3 Total income before income taxes $ 1,784.4 $ 2,252.2 $ 1,591.7 Effective Income Tax Rate Our provision for income taxes may not have the customary relationship of taxes to income. A reconciliation between the U.S. corporate income tax rate and the effective income tax rate was as follows: For the year ended December 31, 2018 2017 2016 U.S. corporate income tax rate 21 % 35 % 35 % Dividends received deduction (4) (8) (10) Impact of the Tax Cuts and Jobs Act (3) (25) — Tax credits (3) (2) (2) Impact of equity method presentation (1) (2) (3) Interest exclusion from taxable income (1) (1) (1) State income taxes 1 2 — Local country permanent tax adjustments 1 — — Other 2 (2) (5) Effective income tax rate 13 % (3) % 14 % The U.S. tax reform enacted on December 22, 2017, made broad and complex changes to the U.S. Internal Revenue Code applicable to us. The U.S. statutory tax rate was reduced from 35% to 21% effective January 1, 2018. Other provisions of U.S. tax reform effective January 1, 2018, included, but were not limited to: 1) provisions reducing the dividends received deduction; 2) essentially eliminating U.S. federal income taxes on dividends from foreign subsidiaries; 3) retaining an element of current inclusion of certain earnings of controlled foreign corporations; 4) eliminating the corporate alternative minimum tax (“AMT”); and, 5) changing how existing AMT credits are realized. Unrecognized Tax Benefits Our changes in unrecognized tax benefits were as follows: For the year ended December 31, 2018 2017 (in millions) Balance at beginning of period $ 194.1 $ 207.8 Additions based on tax positions related to the current year 0.8 7.2 Additions for tax positions of prior years 43.7 20.2 Reductions for tax positions related to the current year (10.6) (3.3) Reductions for tax positions of prior years (23.2) (1.1) Settlements (162.7) (36.7) Balance at end of period (1) $ 42.1 $ 194.1 (1) If recognized, $4.9 million of the above amount of unrecognized tax benefits would reduce our 2018 effective income tax rate. We recognize interest and penalties related to uncertain tax positions in operating expenses within the consolidated statements of operations. As of December 31, 2018 and 2017, we had recognized $1.6 million and $125.5 million of accumulated pre-tax interest and penalties related to unrecognized tax benefits, respectively. We do not believe there is a reasonable possibility the total amount of the unrecognized tax benefits will significantly increase or decrease in the next twelve months considering recent settlements and the status of current and pending Internal Revenue Service (“IRS”) examinations. Settlement agreements applicable to tax years 1995 to 2003 were executed in 2018 with the Department of Justice, as previously approved by the Joint Committee of Taxation in August 2017. An IRS 30-day letter on examination of tax years 2009 through 2012, and the start of IRS examination of tax years 2015 through 2017 are expected in 2019. Net Deferred Income Taxes Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The deferred tax balances as of December 31, 2017, were remeasured as a result of the U.S. tax reform reducing the U.S. statutory tax rate from 35% to 21% effective January 1, 2018. This was because the new rate was applicable to the reversal of cumulative temporary differences thereafter. Our significant components of net deferred income taxes were as follows: December 31, 2018 2017 (in millions) Deferred income tax assets: Insurance liabilities $ — $ 26.3 Investments, including derivatives 165.6 205.8 Net operating and capital loss carryforwards 80.8 68.3 Tax credit carryforwards 163.3 307.5 Employee benefits 327.3 314.5 Foreign currency translation 28.1 20.4 Other deferred income tax assets 33.8 42.7 Gross deferred income tax assets 798.9 985.5 Valuation allowance (17.0) (5.2) Total deferred income tax assets 781.9 980.3 Deferred income tax liabilities: Deferred acquisition costs (615.8) (587.0) Investments, including derivatives (298.1) (343.9) Net unrealized gains on available-for-sale securities (98.1) (597.9) Real estate (144.9) (147.1) Intangible assets (310.0) (253.9) Insurance liabilities (60.2) — Repatriation toll charge — (19.8) Other deferred income tax liabilities (71.9) (74.8) Total deferred income tax liabilities (1,599.0) (2,024.4) Total net deferred income tax liabilities $ (817.1) $ (1,044.1) Our net deferred income taxes by jurisdiction were as follows: December 31, 2018 2017 (in millions) Deferred income tax assets: State $ 108.2 $ 10.9 Foreign 33.1 37.5 Net deferred income tax assets 141.3 48.4 Deferred income tax liabilities: U.S. federal (708.2) (803.9) Foreign (250.2) (288.6) Net deferred income tax liabilities (958.4) (1,092.5) Total net deferred income tax liabilities $ (817.1) $ (1,044.1) In management’s judgment, total deferred income tax assets are more likely than not to be realized. Included in the deferred income tax asset are tax carryforwards available to offset future taxable income or income taxes. As of December 31, 2018 and 2017, we had tax credit carryforwards for U.S. federal income tax purposes of $163.3 million and $307.5 million, respectively. Alternative minimum, foreign and general business tax credit carryovers were generated during and since the period we utilized net operating losses, primarily attributable to our captive reinsurance companies that joined our consolidated U.S. federal income tax return beginning in 2012 and 2013. The AMT credit carryforwards became refundable in 2018 and will be fully recovered by 2021, and the other tax credits will expire by 2023 if unused. As of December 31, 2018, all accumulated U.S. federal tax credit carryforwards are anticipated to be utilized before expiration; therefore, no valuation allowance has been provided for the related deferred income tax assets. As of December 31, 2018 and 2017, domestic state net operating loss carryforwards were $309.6 million and $366.1 million, respectively, and will expire between 2026 and 2036. As of December 31, 2018 and 2017, foreign net operating loss carryforwards were $191.3 million and $125.6 million, respectively, with some expiring in 2019 while others never expire. We maintain valuation allowances by jurisdiction against the deferred income tax assets related to certain of these carryforwards and other items, as utilization of these income tax benefits fail the more likely than not criteria in certain jurisdictions. As of December 31, 2018 and 2017, valuation allowances of $17.0 million and $5.2 million, respectively, had been recorded against the income tax benefits associated primarily with foreign net operating loss carryforwards. Adjustments to the valuation allowance will be made if there is a change in management’s assessment of the amount of the deferred income tax assets that are more likely than not to be realized. Provisions of the U.S. tax reform did not affect the valuation allowance assessment. The effects of tax legislation on deferred taxes are recognized in the period of enactment. The primary impact of U.S. tax reform on our 2017 financial results was associated with the effect of reducing the U.S. statutory tax rate from 35% to 21% on our deferred tax balances as of December 31, 2017, and a one-time deemed repatriation tax on certain unremitted earnings of foreign subsidiaries. The effects of the U.S. tax reform were reflected in the 2017 financial statements as determined or as reasonably estimated provisional amounts based on available information subject to interpretation in accordance with the SEC’s Staff Accounting Bulletin No. 118 (“SAB 118”). The provisional amounts were primarily associated with estimation of the one-time deemed repatriation tax considering complexity as well as limited and changing technical tax guidance. Further, the provisional amounts also apply in regard to other potential technical interpretations of accounting and taxing authorities related to elements of the U.S. tax reform subject to change. Proposed regulations issued August 1, 2018, clarifying the calculation of the one-time deemed repatriation tax, allowed for final determination of the 2017 provisional amount. The impact of final §965 regulations issued on January 15, 2019, is expected to be immaterial; however, analysis is still being completed. The one-time deemed repatriation tax in 2017 was based on the greater of unremitted earnings and profits from foreign operations of our subsidiaries determined as of November 2, 2017 or December 31, 2017, which amounted to $43.0 million. The provisional amount of $43.0 million reported in 2017 was adjusted by $5.9 million in 2018 to $48.9 million to reflect the SAB 118 final determination within the required one-year measurement period. Deferred tax liabilities are recognized for taxes payable on the unremitted earnings from foreign operations of our subsidiaries, except where it is our intention to indefinitely reinvest a portion or all of these undistributed earnings. As of December 31, 2018 and 2017, any applicable taxes that would be due upon repatriation were not provided on approximately $1,184.0 million and $1,331.2 million, respectively, of such accumulated but undistributed earnings from operations of foreign subsidiaries. We currently do not intend to repatriate these unremitted earnings because we have several liquidity options to fund our domestic operations and obligations. These options include investing and financing activities, such as issuing debt, as well as cash flow and dividends from domestic operations. As of December 31, 2018 and 2017, it was not practicable to determine the amount of the unrecognized deferred tax liability that would arise if foreign earnings were remitted, due to the complexity of our international holding company structure, and other significant tax attributes and varying state tax laws. Under the participation exemption available on distributions post-U.S. tax reform, taxes on remittances would be limited to foreign currency gains or losses, foreign withholding taxes, and state income taxes, which we would anticipate to be immaterial. As of December 31, 2018, deferred taxes were also not provided on the approximately $106.2 million of excess book carrying value over tax basis with respect to the original investment in our foreign subsidiaries. A tax liability will be recognized when we no longer plan to indefinitely reinvest a portion or all of these earnings or when we plan to sell a portion or all of our ownership interest. Other Tax Information Income tax returns are filed in U.S. federal jurisdiction as well as various states and foreign jurisdictions where we and one or more of our subsidiaries conduct business. Although determined by jurisdiction, with few exceptions our tax uncertainties relate primarily to the U.S. federal jurisdiction. The IRS has completed examination of our consolidated U.S. federal income tax returns for years prior to 2009. A settlement was reached in 2018 with the Department of Justice involving a suit in the Court of Federal Claims, requesting refunds for the years 1995-2003. IRS claims for refund for tax years 2004 through 2018, as a result of the settlement of earlier years with the Department of Justice, are pending. As of December 31, 2018 and 2017, we had $193.0 million and $231.8 million, respectively, of current income tax receivables associated with outstanding audit issues reported as other assets in our consolidated statements of financial position. We filed claims for refund for tax years 2006 through 2008 in 2015 and tax year 2012 in 2016. The IRS commenced audit of our U.S. federal income tax return for 2009 in the fourth quarter of 2011, 2010 in the first quarter of 2012, 2011 in the first quarter of 2013, and 2012 in the third quarter of 2015. The U.S. federal statute of limitations expired for years prior to 2009, except for pending audit issues. The statute was extended until June 30, 2019 for 2009 through 2012, has expired for 2013 and 2014, and remains open for years thereafter. The ultimate settlement of earlier tax years can be adjusted into subsequent tax years regardless of statute status. We do not expect the results of these audits, subsequent related adjustments or developments in other tax areas for all open tax years to significantly change the possible increase in the amount of unrecognized tax benefits, but the outcome of tax reviews is uncertain and unforeseen results can occur. We believe we have adequate defenses against, or sufficient provisions for, contested issues, but final resolution could take several years while legal remedies are pursued. Consequently, we do not expect the resolved issues from tax years 1995-2003 or those that might arise in tax years subsequent to 2003 to have a material impact on our net income.

Employee and Agent Benefits

Employee and Agent Benefits	12 Months Ended
	Dec. 31, 2018
Employee and Agent Benefits
Employee and Agent Benefits	11. Employee and Agent Benefits We have defined benefit pension plans covering substantially all of our U.S. employees and certain agents. Some of these plans provide supplemental pension benefits to employees and agents with salaries and/or pension benefits in excess of the qualified plan limits imposed by U.S. federal tax law. The employees and agents are generally first eligible for the pension plans when they reach age 21. For plan participants employed prior to January 1, 2002, the pension benefits are based on the greater of a final average pay benefit or a cash balance benefit. The final average pay benefit is based on the years of service and generally the employee's or agent's average annual compensation during the last five years of employment. Partial benefit accrual of final average pay benefits is recognized from first eligibility until retirement based on attained service divided by potential service to age 65 with a minimum of 35 years of potential service. The cash balance portion of the plan started on January 1, 2002. An employee's account is credited with an amount based on the employee's salary, age and service. These credits accrue with interest. For plan participants hired on and after January 1, 2002, only the cash balance plan applies. Our policy is to fund the cost of providing pension benefits in the years that the employees and agents are providing service to us. Our funding policy for the qualified defined benefit plan is to contribute an amount annually at least equal to the minimum annual contribution required under the Employee Retirement Income Security Act (“ERISA”), and, generally, not greater than the maximum amount that can be deducted for U.S. federal income tax purposes. Our funding policy for the nonqualified benefit plan is to fund the plan in the years the employees are providing service, taking into account the funded status of the trust. While we designate assets to cover the computed liability of the nonqualified plan, the assets are not included as part of the asset balances presented in this footnote as they do not qualify as plan assets in accordance with U.S. GAAP. We also provide certain health care, life insurance and long-term care benefits for retired employees. Subsidized retiree health benefits are provided for employees hired prior to January 1, 2002 and who retire prior to January 1, 2020. Employees hired on or after January 1, 2002, or hired prior to January 1, 2002, and retire on or after January 1, 2020, have access to retiree health benefits but it is intended that they pay for the full cost of the coverage. The health care plans are contributory with participants' contributions adjusted annually. The contributions are based on the number of years of service and age at retirement for those hired prior to January 1, 2002, and who retired prior to January 1, 2011. For employees hired prior to January 1, 2002, and who retire on or after January 1, 2011, but prior to January 1, 2020, the contributions are 60% of the expected cost. As part of the substantive plan, the retiree health contributions are assumed to be adjusted in the future as claim levels change. The life insurance plans are contributory for a small group of previously grandfathered participants that have elected supplemental coverage and dependent coverage. The retiree group term life coverage is not subsidized for those who retire on or after January 1, 2020. Covered employees are first eligible for the health and life postretirement benefits when they reach age 57 and have completed ten years of service with us. Retiree long-term care benefits are provided for employees whose retirement was effective prior to July 1, 2000. Our policy is to fund the cost of providing retiree benefits in the years the employees are providing service, taking into account the funded status of the trust. Obligations and Funded Status The plans' combined funded status, reconciled to amounts recognized in the consolidated statements of financial position, was as follows: Other postretirement Pension benefits benefits December 31, December 31, 2018 2017 2018 2017 (in millions) Change in benefit obligation Benefit obligation at beginning of year $ (3,383.6) $ (3,056.2) $ (109.1) $ (109.8) Service cost (73.0) (67.1) (0.1) (0.1) Interest cost (119.5) (124.4) (3.5) (3.9) Actuarial gain (loss) 220.9 (268.0) 7.9 (1.7) Participant contributions — — (3.7) (3.5) Benefits paid 109.6 109.0 9.7 9.9 Plan amendments 6.4 23.1 — — Other — — (0.1) — Benefit obligation at end of year $ (3,239.2) $ (3,383.6) $ (98.9) $ (109.1) Change in plan assets Fair value of plan assets at beginning of year $ 2,542.2 $ 2,190.8 $ 696.8 $ 628.6 Actual return on plan assets (122.2) 368.3 (47.7) 73.9 Employer contribution 187.8 92.1 0.8 0.7 Participant contributions — — 3.7 3.5 Benefits paid (109.6) (109.0) (9.7) (9.9) Fair value of plan assets at end of year $ 2,498.2 $ 2,542.2 $ 643.9 $ 696.8 Amount recognized in statement of financial position Other assets $ — $ — $ 546.9 $ 589.5 Other liabilities (741.0) (841.4) (1.9) (1.8) Total $ (741.0) $ (841.4) $ 545.0 $ 587.7 Amount recognized in accumulated other comprehensive (income) loss Total net actuarial (gain) loss $ 673.3 $ 682.8 $ 40.2 $ (34.7) Prior service benefit (26.7) (23.7) (10.2) (24.1) Pre-tax accumulated other comprehensive (income) loss $ 646.6 $ 659.1 $ 30.0 $ (58.8) The accumulated benefit obligation for all defined benefit pension plans was $3,029.0 million and $3,139.3 million as of December 31, 2018 and 2017, respectively. Employer contributions to the pension plans include contributions made directly to the qualified pension plan assets and contributions from corporate assets to pay nonqualified pension benefits. Benefits paid from the pension plans include both qualified and nonqualified plan benefits. Nonqualified pension plan assets are not included as part of the asset balances presented in this footnote. The nonqualified pension plan assets are held in Rabbi trusts for the benefit of all nonqualified plan participants. The assets held in a Rabbi trust are available to satisfy the claims of general creditors only in the event of bankruptcy. Therefore, these assets are fully consolidated in our consolidated statements of financial position and are not reflected in our funded status as they do not qualify as plan assets under U.S. GAAP. The market value of assets held in these trusts was $348.8 million and $352.0 million as of December 31, 2018 and 2017, respectively. Pension Plan Changes and Plan Gains/Losses On January 1, 2010, benefits under the Principal Pension Plan were frozen for certain participants. The nonqualified plan was amended January 1, 2019, to change the basis for determining lump sums. This gave rise to a total prior service benefit of $6.4 million as of December 31, 2018. The qualified plan and agent nonqualified plan were amended on December 28, 2017, to freeze final average pay accruals for agents after December 31, 2018, but continue cash balance accruals. This gave rise to a total prior service benefit of $23.1 million as of December 31, 2017. The amendments also freeze plan eligibility for agents under both the qualified and nonqualified plans. For the year ended December 31, 2018, the pension plans had an actuarial gain primarily due to an increase in the discount rate. For the year ended December 31, 2017, the pension plans had an actuarial loss primarily due to a decrease in the discount rate and white collar mortality for the nonqualified plans. Other Postretirement Plan Changes and Plan Gains/Losses For the year ended December 31, 2018, the other postretirement benefit plans had an actuarial gain primarily due to an increase in the discount rate and a gain from actual and projected medical claims cost being lower than expected. For the year ended December 31, 2017, the other postretirement benefit plans had an actuarial loss primarily due to a decrease in the discount rate offset by actual and projected medical claims costs being lower than previously expected. Information for Pension Plans With an Accumulated Benefit Obligation in Excess of Plan Assets For 2018 and 2017, both the qualified and nonqualified plans had accumulated benefit obligations in excess of plan assets. As noted previously, the nonqualified plans have assets that are deposited in trusts that fail to meet the U.S. GAAP requirements to be included in plan assets; however, these assets are included in our consolidated statements of financial position. December 31, 2018 2017 (in millions) Projected benefit obligation $ 3,239.2 $ 3,383.6 Accumulated benefit obligation 3,029.0 3,139.3 Fair value of plan assets 2,498.2 2,542.2 Information for Other Postretirement Benefit Plans With an Accumulated Postretirement Benefit Obligation in Excess of Plan Assets December 31, 2018 2017 (in millions) Accumulated postretirement benefit obligation $ 2.1 $ 2.2 Fair value of plan assets 0.2 0.4 Components of Net Periodic Benefit Cost Other postretirement Pension benefits benefits For the year ended December 31, 2018 2017 2016 2018 2017 2016 (in millions) Service cost $ 73.0 $ 67.1 $ 65.0 $ 0.1 $ 0.1 $ 2.1 Interest cost 119.5 124.4 134.9 3.5 3.9 6.2 Expected return on plan assets (157.0) (144.2) (155.0) (33.6) (27.5) (32.6) Amortization of prior service benefit (3.4) (2.3) (2.2) (13.9) (34.6) (25.9) Recognized net actuarial (gain) loss 67.8 68.0 77.0 (1.5) — 0.2 Net periodic benefit cost (income) $ 99.9 $ 113.0 $ 119.7 $ (45.4) $ (58.1) $ (50.0) The components of net periodic benefit cost including the service cost component are included in operating expenses on the consolidated statements of operations. The pension plans' actuarial gains and losses are amortized using a straight-line amortization method over the average remaining service period of plan participants. For the qualified pension plan, gains and losses are amortized without use of the 10% allowable corridor. For the nonqualified pension plans and other postretirement benefit plans, the corridors allowed are used. Other Pension postretirement benefits benefits For the year ended December 31, 2018 2017 2018 2017 (in millions) Other changes recognized in accumulated other comprehensive (income) loss Net actuarial (gain) loss $ 58.3 $ 43.9 $ 73.4 $ (44.7) Prior service benefit (6.4) (23.1) — — Amortization of gain (loss) (67.8) (68.0) 1.5 — Amortization of prior service benefit 3.4 2.3 13.9 34.6 Total recognized in pre-tax accumulated other comprehensive (income) loss $ (12.5) $ (44.9) $ 88.8 $ (10.1) Total recognized in net periodic benefit cost and pre-tax accumulated other comprehensive (income) loss $ 87.4 $ 68.1 $ 43.4 $ (68.2) Net actuarial (gain) loss and net prior service cost benefit have been recognized in AOCI. The estimated net actuarial (gain) loss and prior service cost (benefit) that will be amortized from AOCI into net periodic benefit cost for the pension benefits during the 2019 fiscal year are $67.3 million and $(3.7) million, respectively. The estimated net actuarial (gain) loss and prior service cost (benefit) for the postretirement benefits that will be amortized from AOCI into net periodic benefit cost during the 2019 fiscal year are $0.1 million and $(1.2) million, respectively. Assumptions Weighted‑average assumptions used to determine benefit obligations as disclosed under the Obligations and Funded Status section Pension benefits For the year ended December 31, 2018 2017 Discount rate 4.15 % 3.60 % Rate of compensation increase: Cash balance benefit 4.94 % 4.96 % Traditional benefit 2.73 % 2.77 % Other postretirement benefits For the year ended December 31, 2018 2017 Discount rate 3.95 % 3.35 % Rate of compensation increase N/A 2.39 % Weighted average assumptions used to determine net periodic benefit cost Pension benefits For the year ended December 31, 2018 2017 2016 Discount rate 3.60 % 4.15 % 4.50 % Expected long-term return on plan assets 6.30 % 6.70 % 7.20 % Rate of compensation increase: Cash balance benefit 4.96 % 5.02 % 5.24 % Traditional benefit 2.77 % 2.82 % 3.11 % Other postretirement benefits For the year ended December 31, 2018 2017 2016 Discount rate (1) 3.35 % 3.75 % 3.35 % Expected long-term return on plan assets 4.85 % 4.40 % 5.24 % Rate of compensation increase 2.39 % 2.44 % 4.82 % (1) The funded statuses of the other postretirement employee benefit (“OPEB”) plans for which subsidies were eliminated in 2016 were remeasured as of October 31, 2016, and a portion of the impact was reflected in the 2016 net periodic postretirement benefit cost. A discount rate of 4.15% was used until the remeasurement date at which time a discount rate of 3.35% was used. The assumed salary growth rates used to project benefits for the projected benefit obligation are age-based for home office employees. The rate labeled cash balance benefit (relative to employees accruing a cash balance) is the lifecount-weighted average rate of salary growth in the coming year only, as the impact of salary assumption for cash balance benefits are limited to the upcoming year service cost. The rate labeled traditional benefit (relative to employees still accruing a final average pay benefit) is the lifecount-weighted average (at each age) of the single annual growth rate at the age that is equivalent to applying the scale from that age to assumed termination or retirement ages. For the pension benefits, the discount rate is determined by projecting future benefit payments inherent in the projected benefit obligation and discounting those cash flows using a spot yield curve for high quality corporate bonds. The plans’ expected benefit payments are discounted to determine a present value using the yield curve and the discount rate is the level rate that produces the same present value. The expected return on plan assets is the long-term rate we expect to be earned based on the long-term investment policy of the plans and the various classes of invested funds. A weighted average rate was developed based on those overall rates and the target asset allocation of the plans. For other postretirement benefits, the discount rate is determined by projecting future benefit payments inherent in the accumulated postretirement benefit obligation and discounting those cash flows using a spot yield curve for high quality corporate bonds. The plans’ expected benefit payments are discounted to determine a present value using the yield curve and the discount rate is the level rate that produces the same present value. The 4.85% expected long-term return on plan assets for 2018 was based on the weighted average expected long-term asset returns for the medical, life and long-term care plans. The expected long-term rates for the home office medical/life, agent medical/life, long-term care and post-65 medical plans were 4.90%, 4.60%, 3.75% and 4.80%, respectively. Assumed Health Care Cost Trend Rates December 31, 2018 2017 Health care cost trend rate assumed for next year under age 65 7.0 % 7.0 % Health care cost trend rate assumed for next year age 65 and over 6.0 % 7.0 % Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) 4.5 % 4.5 % Year that the rate reaches the ultimate trend rate (under age 65) 2026 2024 Year that the rate reaches the ultimate trend rate (65 and older) 2025 2024 Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans. A one-percentage-point change in assumed health care cost trend rates would have the following effects: 1-percentage 1-percentage point increase point decrease (in millions) Effect on total of service cost and interest cost components $ 0.1 $ (0.1) Effect on accumulated postretirement benefit obligation (1.2) 1.2 Pension Plan and Other Postretirement Benefit Plan Assets Fair value is defined as the price that would be received to sell an asset in an orderly transaction between market participants at the measurement date (an exit price). The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three levels. · Level 1 – Fair values are based on unadjusted quoted prices in active markets for identical assets. Our Level 1 assets include cash, U.S. Treasury bonds, fixed income investment funds, exchange traded equity securities and alternative mutual fund investments. · Level 2 – Fair values are based on inputs other than quoted prices within Level 1 that are observable for the asset, either directly or indirectly. Our Level 2 assets primarily include fixed income securities, fixed income and equity investment funds and real estate investments. · Level 3 – Fair values are based on significant unobservable inputs for the asset. Our pension plan assets consist of investments in pooled separate accounts and single client separate accounts. Net asset value (“NAV”) of the pooled separate accounts is calculated in a manner consistent with U.S. GAAP for investment companies and is determinative of their fair value. Several of the pooled separate accounts invest in publicly quoted mutual funds or actively managed stocks. The fair value of the underlying mutual funds or stocks is used to determine the NAV of the separate account, which is not publicly quoted. Some of the pooled separate accounts also invest in fixed income securities. The fair value of the underlying securities is based on quoted prices of similar assets and used to determine the NAV of the separate account. Some of the pooled separate accounts invest in real estate properties. The fair value is based on discounted cash flow valuation models that utilize public real estate market data inputs such as transaction prices, market rent growth, vacancy levels, leasing absorption, market capitalization rates and discount rates. The single client separate accounts invest in fixed income securities, hedge funds, a pooled separate account investment and other assets. The fixed income securities include U.S. Treasury bonds for which the fair value is based on quoted prices of identical assets in active markets. The fair value of the other fixed income securities is determined either from prices obtained from third party pricing vendors who use observable market information to determine prices or from internal models using substantially all observable inputs or a matrix pricing valuation approach. The hedge funds are measured at fair value using the NAV per share (or its equivalent) practical expedient and have not been classified in the fair value hierarchy. The NAV of the pooled separate account investment is calculated in a manner consistent with U.S. GAAP for investment companies and is determinative of its fair value. The carrying amounts of other assets, which are highly liquid in nature, are used to approximate fair value. Our other postretirement benefit plan assets consist of cash, investments in fixed income security portfolios, investments in equity security portfolios, investments in alternative mutual fund portfolios and investment in a real estate mutual fund. Because of the nature of cash, its carrying amount approximates fair value. The fair value of fixed income investment funds, U.S. equity portfolios and international equity portfolios is based on quoted prices in active markets for identical assets. The fair value of the alternative mutual fund portfolios and the real estate mutual fund are based on quoted market prices, which represent the NAV of shares held by the other postretirement benefit plan. Pension Plan Assets The fair value of the qualified pension plan’s assets by asset category as of the most recent measurement date was as follows: December 31, 2018 Assets Amount measured at measured at Fair value hierarchy level fair value net asset value Level 1 Level 2 Level 3 (in millions) Asset category Pooled separate account investments: U.S. large cap equity portfolios (1) $ 387.7 $ — $ — $ 387.7 $ — U.S. small/mid cap equity portfolios (2) 64.4 — — 64.4 — Balanced asset portfolios (3) 116.3 — — 116.3 — International equity portfolios (4) 220.9 — — 220.9 — Real estate investment portfolios (5) 133.6 — — 133.6 — Single client separate account investments: Fixed income securities: U.S. government and agencies 418.8 — 418.8 — — States and political subdivisions 24.0 — — 24.0 — Corporate 934.5 — — 934.5 — Commercial mortgage-backed securities 30.7 — — 30.7 — Other debt obligations 8.0 — — 8.0 — Hedge funds (6) 124.7 124.7 — — — Pooled separate account investment (7) 23.9 — — 23.9 — Other (8) 10.7 — 0.3 10.4 — Total $ 2,498.2 $ 124.7 $ 419.1 $ 1,954.4 $ — December 31, 2017 Assets Amount measured at measured at Fair value hierarchy level fair value net asset value Level 1 Level 2 Level 3 (in millions) Asset category Pooled separate account investments: U.S. large cap equity portfolios (1) $ 651.2 $ — $ — $ 651.2 $ — U.S. small/mid cap equity portfolios (2) 112.2 — — 112.2 — Balanced asset portfolios (3) 128.4 — — 128.4 — International equity portfolios (4) 325.8 — — 325.8 — Real estate investment portfolios (5) 126.2 — — 126.2 — Single client separate account investments: Fixed income securities: U.S. government and agencies 292.7 — 292.7 — — States and political subdivisions 16.9 — — 16.9 — Corporate 745.2 — — 745.2 — Commercial mortgage-backed securities 21.3 — — 21.3 — Other debt obligations 3.4 — — 3.4 — Hedge funds (6) 120.4 120.4 — — — Pooled separate account investment (7) 4.6 — — 4.6 — Other (8) (6.1) — 0.8 (6.9) — Total $ 2,542.2 $ 120.4 $ 293.5 $ 2,128.3 $ — (1) The portfolios invest primarily in publicly traded equity securities of large U.S. companies. (2) The portfolios invest primarily in publicly traded equity securities of mid-sized and small U.S. companies. (3) The portfolios are a combination of underlying fixed income and equity investment options. These investment options may include balanced, asset allocation, target-date and target-risk investment options. Although typically lower risk than investment options that invest solely in equities, all investment options in this category have the potential to lose value. (4) The portfolios invest primarily in publicly traded equity securities of non-U.S. companies. (5) The portfolio invests primarily in U.S. commercial real estate properties through a separate account. (6) The hedge funds have varying investment strategies that also have a variety of redemption terms and conditions. We do not have unfunded commitments associated with these hedge funds. (7) The single client separate accounts invest in a money market pooled separate account. (8) Includes cash and net (payables)/receivables for the single client separate accounts. We have established an investment policy that provides the investment objectives and guidelines for the pension plan. Our investment strategy is to achieve the following:  Obtain a reasonable long-term return consistent with the level of risk assumed and at a cost of operation within prudent levels. Performance benchmarks are monitored.  Ensure sufficient liquidity to meet the emerging benefit liabilities for the plan.  Provide for diversification of assets in an effort to avoid the risk of large losses and maximize the investment return to the pension plan consistent with market and economic risk. In administering the qualified pension plan’s asset allocation strategy, we consider the projected liability stream of benefit payments, the relationship between current and projected assets of the plan and the projected actuarial liabilities streams, the historical performance of capital markets adjusted for the perception of future short‑ and long-term capital market performance and the perception of future economic conditions. According to our investment policy, the target asset allocation for the qualified plan is: Asset category Target allocation Fixed income security portfolios % - % Equity portfolios % - % Real estate investment portfolios % Alternatives % Other Postretirement Benefit Plan Assets The fair value of the other postretirement benefit plans’ assets by asset category as of the most recent measurement date was as follows: December 31, 2018 Assets measured at Fair value hierarchy level fair value Level 1 Level 2 Level 3 (in millions) Asset category Cash and cash equivalents $ 0.3 $ 0.3 $ — $ — Fixed income security portfolios: Fixed income investment funds (1) 203.7 166.2 37.5 — U.S. equity portfolios (2) 135.8 101.0 34.8 — International equity portfolios (3) 61.2 47.4 13.8 — Alternative mutual fund portfolios (4) 235.4 235.4 — — Real estate mutual fund (5) 7.5 7.5 — — Total $ 643.9 $ 557.8 $ 86.1 $ — December 31, 2017 Assets measured at Fair value hierarchy level fair value Level 1 Level 2 Level 3 (in millions) Asset category Cash and cash equivalents $ 0.3 $ 0.3 $ — $ — Fixed income security portfolios: Fixed income investment funds (1) 209.8 177.7 32.1 — U.S. equity portfolios (2) 159.4 108.5 50.9 — International equity portfolios (3) 67.8 57.7 10.1 — Alternative mutual fund portfolios (4) 251.4 251.4 — — Real estate mutual fund (5) 8.1 8.1 — — Total $ 696.8 $ 603.7 $ 93.1 $ — (1) The portfolios invest in various fixed income securities, primarily of U.S. origin. These include, but are not limited to, corporate bonds, residential mortgage-backed securities, commercial mortgage-backed securities, U.S. Treasury securities, agency securities, asset-backed securities and collateralized mortgage obligations. (2) The portfolios invest primarily in publicly traded equity securities of large U.S. companies. (3) The portfolios invest primarily in publicly traded equity securities of non-U.S. companies. (4) The portfolios invest primarily in equities, corporate bonds, foreign currencies, convertible securities and derivatives. (5) The mutual fund invests primarily in U.S. commercial real estate properties. As of December 31, 2018 and 2017, $86.1 million and $93.2 million of assets, respectively, in cash, fixed income security portfolios, U.S. equity portfolios and international equity portfolios were included in a trust owned life insurance contract. The reconciliation for a Principal Life general account investment that was previously included in plan assets and measured at fair value using significant unobservable inputs (Level 3) is as follows: For the year ended December 31, 2016 Actual return gains Beginning (losses) on plan assets Ending assets Relating to Net assets balance assets still Relating to purchases, balance as of held at the assets sold sales, Transfers Transfers as of December 31, reporting during the and into out of December 31, 2015 date period settlements Level 3 Level 3 2016 (in millions) Asset category Principal Life general account investment $ 33.5 $ (1.7) $ (33.6) $ 1.8 $ — $ — $ — The investment strategies and policies for the other postretirement benefit plans are similar to those employed by the qualified pension plan. According to our investment policy, the target asset allocation for the other postretirement benefit plans is: Asset category Target allocation U.S. equity portfolios 24 % International equity portfolios 15 % Fixed income security portfolios 32 % Alternatives 24 % Real estate 5 % Contributions Our funding policy for the qualified pension plan is to fund the plan annually in an amount at least equal to the minimum annual contribution required under ERISA and, generally, not greater than the maximum amount that can be deducted for U.S. federal income tax purposes. We do not anticipate contributions will be needed to satisfy the minimum funding requirements of ERISA for our qualified plan. We are unable to estimate the amount that may be contributed, but it is possible that we may fund the plans in 2019 up to $25.0 million. This includes funding for both our qualified and nonqualified pension plans. While we designate assets to cover the computed liability of the nonqualified plan, the assets are not included as part of the asset balances presented in this footnote as they do not qualify as plan assets in accordance with U.S. GAAP. We may contribute to our other postretirement benefit plans in 2019 pending future analysis. Estimated Future Benefit Payments The estimated future benefit payments, which reflect expected future service, are: Other postretirement benefits (gross benefit payments, including Pension benefits prescription drug benefits) (in millions) Year ending December 31: 2019 $ 154.4 $ 14.2 2020 143.3 12.8 2021 149.2 11.8 2022 158.6 11.1 2023 168.1 10.2 2024-2028 939.2 39.7 The above table reflects the total estimated future benefits to be paid from the plan, including both our share of the benefit cost and the participants' share of the cost, which is funded by their contributions to the plan. The assumptions used in calculating the estimated future benefit payments are the same as those used to measure the benefit obligation for the year ended December 31, 2018. Defined Benefit Pension Plans Supplemental Information Certain key summary data is shown below separately for qualified and nonqualified plans. For the year ended December 31, 2018 2017 Qualified Nonqualified Qualified Nonqualified Plan Plan Total Plan Plan Total (in millions) Amount recognized in statement of financial position Other assets $ — $ — $ — $ — $ — $ — Other liabilities (266.3) (474.7) (741.0) (340.0) (501.4) (841.4) Total $ (266.3) $ (474.7) $ (741.0) $ (340.0) $ (501.4) $ (841.4) Amount recognized in accumulated other comprehensive loss Total net actuarial loss $ 544.4 $ 128.9 $ 673.3 $ 516.4 $ 166.4 $ 682.8 Prior service benefit (11.0) (15.7) (26.7) (12.5) (11.2) (23.7) Pre-tax accumulated other comprehensive loss $ 533.4 $ 113.2 $ 646.6 $ 503.9 $ 155.2 $ 659.1 Components of net periodic benefit cost Service cost $ 65.7 $ 7.3 $ 73.0 $ 60.3 $ 6.8 $ 67.1 Interest cost 102.0 17.5 119.5 106.0 18.4 124.4 Expected return on plan assets (157.0) — (157.0) (144.2) — (144.2) Amortization of prior service benefit (1.5) (1.9) (3.4) (1.2) (1.1) (2.3) Recognized net actuarial loss 53.6 14.2 67.8 59.2 8.8 68.0 Net periodic benefit cost $ 62.8 $ 37.1 $ 99.9 $ 80.1 $ 32.9 $ 113.0 Other changes recognized in accumulated other comprehensive (income) loss Net actuarial (gain) loss $ 81.7 $ (23.4) $ 58.3 $ (11.9) $ 55.8 $ 43.9 Prior service benefit — (6.4) (6.4) (12.2) (10.9) (23.1) Amortization of net loss (53.6) (14.2) (67.8) (59.2) (8.8) (68.0) Amortization of prior service benefit 1.5 1.9 3.4 1.2 1.1 2.3 Total recognized in pre-tax accumulated other comprehensive (income) loss $ 29.6 $ (42.1) $ (12.5) $ (82.1) $ 37.2 $ (44.9) Total recognized in net periodic benefit cost and pre-tax accumulated other comprehensive (income) loss $ 92.4 $ (5.0) $ 87.4 $ (2.0) $ 70.1 $ 68.1 Defined Contribution and Deferred Compensation Plans In addition, we have defined contribution plans that are generally available to all U.S. employees and agents. Eligible participants could not contribute more than $18,500 of their compensation to the plans in 2018. Effective January 1, 2006, we made several changes to the retirement programs. In general, the pension and supplemental executive retirement plan benefit formulas were reduced and the 401(k) matching contribution was increased. Employees who were ages 47 or older with at least ten years of service on December 31, 2005, could elect to retain the prior benefit provisions and forgo receipt of the additional matching contributions. The employees who elected to retain the prior benefit provisions are referred to as “Grandfathered Choice Participants.” We match the Grandfathered Choice Participant's contribution at a 50% contribution rate up to a maximum matching contribution of 3% of the participant's compensation. For all other participants, we match the participant's contributions at a 75% contribution rate up to a maximum matching contribution of 6% of the participant's compensation. The defined contribution plans allow employees to choose among various investment options, including our common stock, which is available through our Employee Stock Ownership Plan (“ESOP”). We contributed $53.4 million, $48.9 million and $46.6 million in 2018, 2017 and 2016, respectively, to our qualified defined contribution plans. The number of shares of our common stock allocated to participants in the ESOP was 2.4 million and 2.1 million as of December 31, 2018 and 2017, respectively. As of December 31, 2018 and 2017, the fair value of the ESOP, which includes earned and unearned common stock, was $105.1 million and $149.4 million, respectively. The ESOP’s total assets include our common stock and cash. The ESOP purchases our common stock on the open market. The number of shares of our common stock held within the ESOP is treated a

Contingencies, Guarantees and I

Contingencies, Guarantees and Indemnifications	12 Months Ended
	Dec. 31, 2018
Contingencies, Guarantees and Indemnifications
Contingencies, Guarantees and Indemnifications	12. Contingencies, Guarantees and Indemnifications Litigation and Regulatory Contingencies We are regularly involved in litigation, both as a defendant and as a plaintiff, but primarily as a defendant. Litigation naming us as a defendant ordinarily arises out of our business operations as a provider of asset management and accumulation products and services, individual life insurance, specialty benefits insurance and our investment activities. Some of the lawsuits may be class actions, or purport to be, and some may include claims for unspecified or substantial punitive and treble damages. We may discuss such litigation in one of three ways. We accrue a charge to income and disclose legal matters for which the chance of loss is probable and for which the amount of loss can be reasonably estimated. We may disclose contingencies for which the chance of loss is reasonably possible and provide an estimate of the possible loss or range of loss or a statement that such an estimate cannot be made. Finally, we may voluntarily disclose loss contingencies for which the chance of loss is remote in order to provide information concerning matters that potentially expose us to possible losses. In addition, regulatory bodies such as state insurance departments, the SEC, the Financial Industry Regulatory Authority ("FINRA"), the Department of Labor ("DOL") and other regulatory agencies in the U.S. and in international locations in which we do business, regularly make inquiries and conduct examinations or investigations concerning our compliance with, among other things, insurance laws, securities laws, ERISA and laws governing the activities of broker-dealers. We receive requests from regulators and other governmental authorities relating to industry issues and may receive additional requests, including subpoenas and interrogatories, in the future. As of December 31, 2018, we had no litigation or regulatory contingencies for which we believe disclosure is appropriate. Guarantees and Indemnifications In the normal course of business, we have provided guarantees to third parties primarily related to former subsidiaries and joint ventures. The terms of these agreements range in duration and often are not explicitly defined. The maximum exposure under these agreements as of December 31, 2018, was approximately $126.0 million. At inception, the fair value of such guarantees was insignificant. In addition, we believe the likelihood is remote that material payments will be required. Therefore, any liability accrued within our consolidated statements of financial position is insignificant. Should we be required to perform under these guarantees, we generally could recover a portion of the loss from third parties through recourse provisions included in agreements with such parties, the sale of assets held as collateral that can be liquidated in the event performance is required under the guarantees or other recourse generally available to us; therefore, such guarantees would not result in a material adverse effect on our business or financial position. While the likelihood is remote, such outcomes could materially affect net income in a particular quarter or annual period. Furthermore, in connection with our P-Caps contingent funding agreements, we are required to purchase any principal and interest strips of U.S. Treasury securities that are due and not paid from the associated unconsolidated trusts. The maximum exposure under these agreements as of December 31, 2018, was $750.0 million. See Note 9, Long-Term Debt, for further details. We manage mandatory privatized social security funds in Chile. By regulation, we have a required minimum guarantee on the funds’ relative return. Because the guarantee has no limitation with respect to duration or amount, the maximum exposure of the guarantee in the future is indeterminable. We are also subject to various other indemnification obligations issued in conjunction with divestitures, acquisitions and financing transactions whose terms range in duration and often are not explicitly defined. Certain portions of these indemnifications may be capped, while other portions are not subject to such limitations; therefore, the overall maximum amount of the obligation under the indemnifications cannot be reasonably estimated. At inception, the fair value of such indemnifications was insignificant. In addition, we believe the likelihood is remote that material payments will be required. Therefore, any liability accrued within our consolidated statements of financial position is insignificant. While we are unable to estimate with certainty the ultimate legal and financial liability with respect to these indemnifications, we believe that performance under these indemnifications would not result in a material adverse effect on our business or financial position. While the likelihood is remote, performance under these indemnifications could materially affect net income in a particular quarter or annual period. Guaranty Funds Under state insurance guaranty fund laws, insurers doing business in a state can be assessed, up to prescribed limits, for certain obligations of insolvent insurance companies to policyholders and claimants. A state’s fund assesses its members based on their pro rata market share of written premiums in the state for the classes of insurance for which the insolvent insurer was engaged. Some states permit member insurers to recover assessments paid through full or partial premium tax offsets. We accrue liabilities for guaranty fund assessments when an assessment is probable, can be reasonably estimated and when the event obligating us to pay has occurred. While we cannot predict the amount and timing of any future assessments, we have established reserves we believe are adequate for assessments relating to insurance companies that are currently subject to insolvency proceedings. As of December 31, 2018 and 2017, the liability balance for guaranty fund assessments, which is not discounted, was $22.2 million and $23.3 million, respectively, and was reported within other liabilities in the consolidated statements of financial position. As of December 31, 2018 and 2017 , $10.4 million and $11.3 million, respectively, related to premium tax offsets were included in premiums due and other receivables in the consolidated statements of financial position. Operating Leases As a lessee, we lease office space, data processing equipment, office furniture and office equipment under various operating leases. Rental expense for the years ended December 31, 2018, 2017 and 2016, was $26.1 million, $44.0 million and $40.4 million, respectively. The following represents payments due by period for operating lease obligations (in millions): Year ending December 31: 2019 $ 50.3 2020 44.3 2021 35.5 2022 28.5 2023 20.2 2024 and thereafter 56.4 Total operating lease obligations 235.2 Less: Future sublease rental income on noncancelable leases 5.7 Total future minimum lease payments $ 229.5 Capital Leases We lease buildings and hardware storage equipment under capital leases. As of December 31, 2018 and 2017, these leases had a gross asset balance of $67.9 million and $60.8 million and accumulated depreciation of $35.3 million and $32.8 million, respectively. Depreciation expense for the years ended December 31, 2018, 2017 and 2016 was $12.9 million, $13.4 million and $14.8 million, respectively. The following represents future minimum lease payments due by period for capital lease obligations (in millions). Year ending December 31: 2019 $ 12.7 2020 11.0 2021 8.2 2022 1.8 2023 0.4 2024 and thereafter 0.2 Total 34.3 Less: Amounts representing interest 1.4 Net present value of minimum lease payments $ 32.9

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2018
Stockholders' Equity
Stockholders' Equity	13. Stockholders' Equity Common Stock Dividends For the year ended December 31, 2018 2017 2016 Dividends declared per common share $ 2.10 $ 1.87 $ 1.61 Reconciliation of Outstanding Common Shares For the year ended December 31, 2018 2017 2016 (in millions) Beginning balance 289.0 287.7 291.4 Shares issued 2.6 4.9 3.0 Treasury stock acquired (12.1) (3.6) (6.7) Ending balance 279.5 289.0 287.7 In October 2015, our Board of Directors authorized a share repurchase program of up to $150.0 million of our outstanding common stock, which was completed in March 2016. In February 2016, our Board of Directors authorized a share repurchase program of up to $400.0 million of our outstanding common stock, which was completed in February 2018. In May 2017, our Board of Directors authorized a share repurchase program of up to $250.0 million of our outstanding common stock, which was completed in April 2018. In May 2018, our Board of Directors authorized a share repurchase program of up to $300.0 million of our outstanding common stock, which was completed in December 2018. In November 2018, our Board of Directors authorized a share repurchase program of up to $500.0 million of our outstanding common stock, which has no expiration. Shares repurchased under these programs are accounted for as treasury stock, carried at cost and reflected as a reduction to stockholders’ equity. Other Comprehensive Income (Loss) For the year ended December 31, 2018 Pre-Tax Tax After-Tax (in millions) Net unrealized losses on available-for-sale securities during the period $ (2,517.5) $ 515.4 $ (2,002.1) Reclassification adjustment for losses included in net income (1) 56.4 (5.3) 51.1 Adjustments for assumed changes in amortization patterns 185.9 (39.1) 146.8 Adjustments for assumed changes in policyholder liabilities 346.9 (72.3) 274.6 Net unrealized losses on available-for-sale securities (1,928.3) 398.7 (1,529.6) Noncredit component of impairment losses on fixed maturities, available-for-sale during the period 39.7 (8.4) 31.3 Adjustments for assumed changes in amortization patterns (5.3) 1.1 (4.2) Adjustments for assumed changes in policyholder liabilities (0.8) 0.1 (0.7) Noncredit component of impairment losses on fixed maturities, available-for-sale (2) 33.6 (7.2) 26.4 Net unrealized gains on derivative instruments during the period 50.4 (3.4) 47.0 Reclassification adjustment for gains included in net income (3) (40.1) 4.2 (35.9) Adjustments for assumed changes in amortization patterns 0.3 (0.1) 0.2 Adjustments for assumed changes in policyholder liabilities 5.7 (1.0) 4.7 Net unrealized gains on derivative instruments 16.3 (0.3) 16.0 Foreign currency translation adjustment (303.9) 16.3 (287.6) Unrecognized postretirement benefit obligation during the period (125.3) 29.4 (95.9) Amortization of amounts included in net periodic benefit cost (5) 49.0 (14.0) 35.0 Net unrecognized postretirement benefit obligation (76.3) 15.4 (60.9) Other comprehensive loss $ (2,258.6) $ 422.9 $ (1,835.7) For the year ended December 31, 2017 Pre-Tax Tax After-Tax (in millions) Net unrealized gains on available-for-sale securities during the period $ 1,074.2 $ (341.6) $ 732.6 Reclassification adjustment for losses included in net income (1) 67.8 (23.5) 44.3 Adjustments for assumed changes in amortization patterns (26.2) 9.3 (16.9) Adjustments for assumed changes in policyholder liabilities (184.6) 64.1 (120.5) Net unrealized gains on available-for-sale securities 931.2 (291.7) 639.5 Noncredit component of impairment losses on fixed maturities, available-for-sale during the period 53.1 (17.0) 36.1 Adjustments for assumed changes in amortization patterns (6.4) 2.3 (4.1) Adjustments for assumed changes in policyholder liabilities (1.3) 0.5 (0.8) Noncredit component of impairment losses on fixed maturities, available-for-sale (2) 45.4 (14.2) 31.2 Net unrealized losses on derivative instruments during the period (46.7) 16.0 (30.7) Reclassification adjustment for gains included in net income (3) (31.6) 10.8 (20.8) Adjustments for assumed changes in amortization patterns 3.9 (1.3) 2.6 Adjustments for assumed changes in policyholder liabilities 9.6 (3.3) 6.3 Net unrealized losses on derivative instruments (64.8) 22.2 (42.6) Foreign currency translation adjustment during the period 171.6 4.7 176.3 Reclassification adjustment for losses included in net income (4) 2.6 — 2.6 Foreign currency translation adjustment 174.2 4.7 178.9 Unrecognized postretirement benefit obligation during the period 24.0 (3.8) 20.2 Amortization of amounts included in net periodic benefit cost (5) 31.1 (14.0) 17.1 Net unrecognized postretirement benefit obligation 55.1 (17.8) 37.3 Other comprehensive income $ 1,141.1 $ (296.8) $ 844.3 For the year ended December 31, 2016 Pre-Tax Tax After-Tax (in millions) Net unrealized gains on available-for-sale securities during the period $ 254.6 $ (78.1) $ 176.5 Reclassification adjustment for losses included in net income (1) 67.9 (23.5) 44.4 Adjustments for assumed changes in amortization patterns 5.6 (2.0) 3.6 Adjustments for assumed changes in policyholder liabilities (177.2) 51.8 (125.4) Net unrealized gains on available-for-sale securities 150.9 (51.8) 99.1 Noncredit component of impairment losses on fixed maturities, available-for-sale during the period (0.3) (1.5) (1.8) Adjustments for assumed changes in amortization patterns (3.4) 1.2 (2.2) Adjustments for assumed changes in policyholder liabilities 0.8 (0.3) 0.5 Noncredit component of impairment losses on fixed maturities, available-for-sale (2) (2.9) (0.6) (3.5) Net unrealized gains on derivative instruments during the period 32.6 (7.6) 25.0 Reclassification adjustment for gains included in net income (3) (27.7) 5.4 (22.3) Adjustments for assumed changes in amortization patterns 2.9 (1.0) 1.9 Adjustments for assumed changes in policyholder liabilities 16.9 (6.0) 10.9 Net unrealized gains on derivative instruments 24.7 (9.2) 15.5 Foreign currency translation adjustment 75.6 (7.5) 68.1 Unrecognized postretirement benefit obligation during the period 20.2 (6.8) 13.4 Amortization of amounts included in net periodic benefit cost (5) 49.1 (20.7) 28.4 Net unrecognized postretirement benefit obligation 69.3 (27.5) 41.8 Other comprehensive income $ 317.6 $ (96.6) $ 221.0 (1) Pre-tax reclassification adjustments relating to available-for-sale securities are reported in net realized capital gains (losses) on the consolidated statements of operations. (2) Represents the net impact of (1) unrealized gains resulting from reclassification of previously recognized noncredit impairment losses from OCI to net realized capital gains (losses) for fixed maturities with bifurcated OTTI that had additional credit losses or fixed maturities that previously had bifurcated OTTI that have now been sold or are intended to be sold and (2) unrealized losses resulting from reclassification of noncredit impairment losses for fixed maturities with bifurcated OTTI from net realized capital gains (losses) to OCI. (3) See Note 5, Derivative Financial Instruments – Cash Flow Hedges, for further details. (4) Pre-tax reclassification adjustments relating to deconsolidated sponsored investment funds are reported in net realized capital gains (losses) on the consolidated statements of operations. $2.0 million of this reclassification relates to noncontrolling interest and is reported in net income attributable to noncontrolling interest on the consolidated statements of operations. (5) Amount is comprised of amortization of prior service cost (benefit) and recognized net actuarial (gain) loss, which is reported in operating expenses on the consolidated statements of operations. See Note 11, Employee and Agent Benefits – Components of Net Periodic Benefit Cost, for further details. Accumulated Other Comprehensive Income (Loss) Noncredit Net unrealized component of Net unrealized Foreign Unrecognized Accumulated gains on impairment losses gains currency postretirement other available-for-sale on fixed maturities on derivative translation benefit comprehensive securities available-for-sale instruments adjustment obligation income (loss) (in millions) Balances as of January 1, 2016 $ 732.1 $ (86.0) $ 69.8 $ (1,148.2) $ (450.2) $ (882.5) Other comprehensive income during the period, net of adjustments 54.7 (3.5) 37.8 63.7 13.4 166.1 Amounts reclassified from AOCI 44.4 — (22.3) — 28.4 50.5 Other comprehensive income 99.1 (3.5) 15.5 63.7 41.8 216.6 Purchase of subsidiary shares from noncontrolling interest — — — (9.3) — (9.3) Balances as of December 31, 2016 831.2 (89.5) 85.3 (1,093.8) (408.4) (675.2) Other comprehensive income during the period, net of adjustments 595.2 — (21.8) 174.7 20.2 768.3 Amounts reclassified from AOCI 44.3 31.2 (20.8) 0.6 17.1 72.4 Other comprehensive income 639.5 31.2 (42.6) 175.3 37.3 840.7 Balances as of December 31, 2017 1,470.7 (58.3) 42.7 (918.5) (371.1) 165.5 Other comprehensive loss during the period, net of adjustments (1,580.6) — 51.9 (283.2) (95.9) (1,907.8) Amounts reclassified from AOCI 51.1 26.4 (35.9) — 35.0 76.6 Other comprehensive loss (1,529.5) 26.4 16.0 (283.2) (60.9) (1,831.2) Purchase of subsidiary shares from noncontrolling interest — — — (1.6) — (1.6) Effects of implementation of accounting change related to equity investments, net (1.0) — — — — (1.0) Effects of implementation of accounting change accounting change related to revenue recognition, net — — — 25.6 — 25.6 Effects of implementation of accounting change related to the reclassification of certain tax effects, net 249.8 (15.2) 5.7 (81.8) (80.9) 77.6 Balances as of December 31, 2018 $ 190.0 $ (47.1) $ 64.4 $ (1,259.5) $ (512.9) $ (1,565.1) Noncontrolling Interest Interests held by unaffiliated parties in consolidated entities are reflected in noncontrolling interest, which represents the noncontrolling partners’ share of the underlying net assets of our consolidated subsidiaries. Noncontrolling interest that is not redeemable is reported in the equity section of the consolidated statements of financial position. The noncontrolling interest holders in certain of our consolidated entities maintain an equity interest that is redeemable at the option of the holder, which may be exercised on varying dates. Since redemption of the noncontrolling interest is outside of our control, this interest is excluded from stockholders’ equity and reported separately as redeemable noncontrolling interest on the consolidated statements of financial position. Our redeemable noncontrolling interest primarily relates to consolidated sponsored investment funds for which interests are redeemed at fair value from the net assets of the funds. For our redeemable noncontrolling interest related to other consolidated subsidiaries, redemptions are required to be purchased at fair value or a value based on a formula that management intended to reasonably approximate fair value based on a fixed multiple of earnings over a measurement period. The carrying value of the redeemable noncontrolling interest is compared to the redemption value at each reporting period. Any adjustments to the carrying amount of the redeemable noncontrolling interest for changes in redemption value prior to exercise of the redemption option are determined after the attribution of net income or loss of the subsidiary and are recognized in the redemption value as they occur. Adjustments to the carrying value of redeemable noncontrolling interest result in adjustments to additional paid-in capital and/or retained earnings. Adjustments are recorded in retained earnings to the extent the redemption value of the redeemable noncontrolling interest exceeds its fair value and will impact the numerator in our earnings per share calculations. All other adjustments to the redeemable noncontrolling interest are recorded in additional paid-in capital. Following is a reconciliation of the changes in the redeemable noncontrolling interest (in millions): For the year ended December 31, 2018 2017 2016 (in millions) Beginning balance $ 101.3 $ 97.5 $ 85.7 Net income (loss) attributable to redeemable noncontrolling interest (2.1) 7.0 16.8 Redeemable noncontrolling interest of newly consolidated entities (1) — — 179.5 Redeemable noncontrolling interest of deconsolidated entities (2) (10.6) (61.1) (261.5) Contributions from redeemable noncontrolling interest 355.0 94.1 135.1 Distributions to redeemable noncontrolling interest (36.8) (39.0) (57.4) Purchase of subsidiary shares from redeemable noncontrolling interest (7.1) (4.4) (8.2) Change in redemption value of redeemable noncontrolling interest (7.0) 5.9 4.2 Stock-based compensation attributable to redeemable noncontrolling interest 0.1 — — Other comprehensive income (loss) attributable to redeemable noncontrolling interest (1.6) 1.3 3.3 Ending balance $ 391.2 $ 101.3 $ 97.5 (1) Effective January 1, 2016, certain sponsored investment funds were consolidated as a result of the implementation of new accounting guidance. (2) We deconsolidated certain sponsored investment funds as they no longer met the requirements for consolidation. Dividend Limitations The declaration and payment of our common stock dividends is subject to the discretion of our Board of Directors and will depend on our overall financial condition, results of operations, capital levels, cash requirements, future prospects, receipt of dividends from Principal Life (as described below), risk management considerations and other factors deemed relevant by the Board. No significant restrictions limit the payment of dividends by us, except those generally applicable to corporations incorporated in Delaware. Under Iowa law, we may pay dividends only from the earned surplus arising from our business and must receive the prior approval of the Commissioner of Insurance of the State of Iowa (“the Commissioner”) to pay stockholder dividends or make any other distribution if such distribution would exceed certain statutory limitations. Iowa law gives the Commissioner discretion to disapprove requests for distributions in excess of these limitations. Extraordinary dividends include those made, together with dividends and other distributions, within the preceding twelve months that exceed the greater of (i) 10% of our statutory policyholder surplus as of the previous year-end or (ii) the statutory net gain from operations from the previous calendar year, not to exceed earned surplus. Based on this limitation and 2018 statutory results, Principal Life could pay approximately $1,085.7 million in ordinary stockholder dividends in 2019 without prior regulatory approval. However, because the dividend test is based on dividends previously paid over rolling 12-month periods, if paid before a specified date during 2019, some or all of such dividends may be extraordinary and require regulatory approval. On May 1, 2017, Principal Life sold its ownership interest in Principal Global Investors, LLC to Principal Life's direct parent, Principal Financial Services, Inc. in connection with a corporate reorganization designed to better utilize and allocate capital internally. Subsequent to the sale, Principal Life paid an extraordinary dividend of $1,068.4 million to its parent, which was approved by the Commissioner, primarily from proceeds received from the sale.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2018
Fair Value Measurements
Fair Value Measurements	14. Fair Value Measurements We use fair value measurements to record fair value of certain assets and liabilities and to estimate fair value of financial instruments not recorded at fair value but required to be disclosed at fair value. Certain financial instruments, particularly policyholder liabilities other than investment contracts, are excluded from these fair value disclosure requirements. Valuation Hierarchy Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three levels. The level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest level input that is significant to the fair value measurement in its entirety considering factors specific to the asset or liability. · Level 1 – Fair values are based on unadjusted quoted prices in active markets for identical assets or liabilities. Our Level 1 assets and liabilities primarily include exchange traded equity securities, mutual funds and U.S. Treasury bonds. · Level 2 – Fair values are based on inputs other than quoted prices within Level 1 that are observable for the asset or liability, either directly or indirectly. Our Level 2 assets and liabilities primarily include fixed maturities (including public and private bonds), equity securities, cash equivalents, derivatives and other investments. · Level 3 – Fair values are based on at least one significant unobservable input for the asset or liability. Our Level 3 assets and liabilities primarily include fixed maturities, real estate and commercial mortgage loan investments of our separate accounts, complex derivatives and embedded derivatives. Determination of Fair Value The following discussion describes the valuation methodologies and inputs used for assets and liabilities measured at fair value on a recurring basis or disclosed at fair value. The techniques utilized in estimating the fair value of financial instruments are reliant on the assumptions used. Care should be exercised in deriving conclusions about our business, its value or financial position based on the fair value information of financial instruments presented below. Fair value estimates are made based on available market information and judgments about the financial instrument at a specific point in time. Such estimates do not consider the tax impact of the realization of unrealized gains or losses. In addition, the disclosed fair value may not be realized in the immediate settlement of the financial instrument. We validate prices through an investment analyst review process, which includes validation through direct interaction with external sources, review of recent trade activity or use of internal models. In circumstances where broker quotes are used to value an instrument, we generally receive one non-binding quote. Broker quotes are validated through an investment analyst review process, which includes validation through direct interaction with external sources and use of internal models or other relevant information. We did not make any significant changes to our valuation processes during 2018. Fixed Maturities Fixed maturities include bonds, ABS, redeemable preferred stock and certain non-redeemable preferred securities. When available, the fair value of fixed maturities is based on quoted prices of identical assets in active markets. These are reflected in Level 1 and primarily include U.S. Treasury bonds and actively traded redeemable corporate preferred securities. When quoted prices of identical assets in active markets are not available, our first priority is to obtain prices from third party pricing vendors. We have regular interaction with these vendors to ensure we understand their pricing methodologies and to confirm they are utilizing observable market information. Their methodologies vary by asset class and include inputs such as estimated cash flows, benchmark yields, reported trades, broker quotes, credit quality, industry events and economic events. Fixed maturities with validated prices from pricing services, which includes the majority of our public fixed maturities in all asset classes, are generally reflected in Level 2. Also included in Level 2 are corporate bonds when quoted market prices are not available, for which an internal model using substantially all observable inputs or a matrix pricing valuation approach is used. In the matrix approach, securities are grouped into pricing categories that vary by sector, rating and average life. Each pricing category is assigned a risk spread based on studies of observable public market data from the investment professionals assigned to specific security classes. The expected cash flows of the security are then discounted back at the current Treasury curve plus the appropriate risk spread. Although the matrix valuation approach provides a fair valuation of each pricing category, the valuation of an individual security within each pricing category may also be impacted by company specific factors. If we are unable to price a fixed maturity security using prices from third party pricing vendors or other sources specific to the asset class, we may obtain a broker quote or utilize an internal pricing model specific to the asset utilizing relevant market information, to the extent available and where at least one significant unobservable input is utilized. These are reflected in Level 3 in the fair value hierarchy and can include fixed maturities across all asset classes. As of December 31, 2018, less than 1% of our total fixed maturities were Level 3 securities valued using internal pricing models. The primary inputs, by asset class, for valuations of the majority of our Level 2 investments from third party pricing vendors or our internal pricing valuation approach are described below. U.S. Government and Agencies/Non-U.S. Governments . Inputs include r ecently executed market transactions, interest rate yield curves, maturity dates, market price quotations and credit spreads relating to similar instruments. States and Political Subdivisions . Inputs include Municipal Securities Rulemaking Board reported trades, U.S. T reasury and other benchmark curves, material event notices, new issue data and obligor credit ratings. Corporate . Inputs include recently executed transactions, market price quotations, benchmark yields, issuer spreads and observations of equity and credit default swap curves related to the issuer . For private placement corporate securities valued through the matrix valuation approach inputs include the current Treasury curve and risk spreads based on sector, rating and average life of the issuance. RMBS, CMBS, Collateralized Debt Obligations and Other Debt Obligations . Inputs include cash flows, priority of the tranche in the capital structure, expected time to maturity for the specific tranche, reinvestment period remaining and performance of the underlying collateral including prepayments, defaults, deferrals, loss severity of defaulted collateral and, for RMBS, prepayment speed assumptions. Other inputs include market indices and recently executed market transactions. Equity Securities Equity securities include mutual funds, common stock, non-redeemable preferred stock and required regulatory investments. Fair values of equity securities are determined using quoted prices in active markets for identical assets when available, which are reflected in Level 1. When quoted prices are not available, we may utilize internal valuation methodologies appropriate for the specific asset that use observable inputs such as underlying share prices or the NAV, which are reflected in Level 2. Fair values might also be determined using broker quotes or through the use of internal models or analysis that incorporate significant assumptions deemed appropriate given the circumstances and consistent with what other market participants would use when pricing such securities, which are reflected in Level 3. Derivatives The fair values of exchange-traded derivatives are determined through quoted market prices, which are reflected in Level 1. Exchange-traded derivatives include futures that are settled daily, which reduces their fair value in the consolidated statements of financial position. The fair values of OTC cleared derivatives are determined through market prices published by the clearinghouses, which are reflected in Level 2. The clearinghouses may utilize the overnight indexed swap (“OIS”) curve in their valuation. Variation margin associated with OTC cleared derivatives is settled daily, which reduces their fair value in the consolidated statements of financial position. The fair values of bilateral OTC derivative instruments are determined using either pricing valuation models that utilize market observable inputs or broker quotes. The majority of our bilateral OTC derivatives are valued with models that use market observable inputs, which are reflected in Level 2. Significant inputs include contractual terms, interest rates, currency exchange rates, credit spread curves, equity prices and volatilities. These valuation models consider projected discounted cash flows, relevant swap curves and appropriate implied volatilities. Certain bilateral OTC derivatives utilize unobservable market data, primarily independent broker quotes that are nonbinding quotes based on models that do not reflect the result of market transactions, which are reflected in Level 3. Our non-cleared derivative contracts are generally documented under ISDA Master Agreements, which provide for legally enforceable set-off and close-out netting of exposures to specific counterparties. Collateral arrangements are bilateral and based on current ratings of each entity. We utilize the LIBOR interest rate curve to value our positions, which includes a credit spread. This credit spread incorporates an appropriate level of nonperformance risk into our valuations given the current ratings of our counterparties, as well as the collateral agreements in place. Counterparty credit risk is routinely monitored to ensure our adjustment for non-performance risk is appropriate. Our centrally cleared derivative contracts are conducted with regulated centralized clearinghouses, which provide for daily exchange of cash collateral or variation margin equal to the difference in the daily market values of those contracts that eliminates the non-performance risk on these trades. Interest Rate Contracts. For non-cleared contracts we use discounted cash flow valuation techniques to determine the fair value of interest rate swaps using observable swap curves as the inputs. These are reflected in Level 2. For centrally cleared contracts we use published prices from clearinghouses. These are reflected in Level 2. In addition, we have interest rate options and have had a limited number of complex inflation-linked interest rate swaps and swaptions that are valued using broker quotes. These are reflected in Level 3. Foreign Exchange Contracts. We use discounted cash flow valuation techniques that utilize observable swap curves and exchange rates as the inputs to determine the fair value of foreign currency swaps. These are reflected in Level 2. Currency forwards and currency options are valued using observable market inputs, including forward currency exchange rates. These are reflected in Level 2. In addition, we have a limited number of non-standard currency swaps and currency options that are valued using broker quotes. These are reflected within Level 3. Equity Contracts. We use an option pricing model using observable implied volatilities, dividend yields, index prices and swap curves as the inputs to determine the fair value of equity options. These are reflected in Level 2. Credit Contracts. We use either the ISDA Credit Default Swap Standard discounted cash flow model that utilizes observable default probabilities and recovery rates as inputs or broker prices to determine the fair value of credit default swaps. These are reflected in Level 3. Other Investments Other investments reported at fair value include invested assets of consolidated sponsored investment funds, unconsolidated sponsored investment funds, other investment funds reported at fair value, commercial mortgage loans of consolidated VIEs for which the fair value option was elected, equity method real estate investments for which the fair value option was elected and certain redeemable preferred stock. In addition, in 2017 we had other investment funds for which the fair value option was elected. Invested assets of consolidated sponsored investment funds include equity securities, fixed maturities and other investments, for which fair values are determined as previously described, and are reflected in Level 1 and Level 2. The fair value of unconsolidated sponsored investment funds and other investment funds is determined using the NAV of the fund. The NAV of the fund represents the price at which we would be able to initiate a transaction. Investments for which the NAV represents a quoted price in an active market for identical assets are reflected in Level 1. Investments that do not have a quoted price in an active market are reflected in Level 2. Commercial mortgage loans of consolidated VIEs are valued using the more observable fair value of the liabilities of the consolidated collateralized financing entities (“CCFEs”) under the measurement alternative guidance and are reflected in Level 2. The liabilities are affiliated so are not reflected in our consolidated results. Equity method real estate investments for which the fair value option was elected are reflected in Level 3. The equity method real estate investments consist of underlying real estate and debt. The real estate fair value is estimated using a discounted cash flow valuation model that utilizes public real estate market data inputs such as transaction prices, market rents, vacancy levels, leasing absorption, market cap rates and discount rates. The debt fair value is estimated using a discounted cash flow analysis based on our incremental borrowing rate for similar borrowing arrangements. The fair value of certain redeemable preferred stock is based on an internal model using observable inputs and is included in Level 2. Cash Equivalents Certain cash equivalents are reported at fair value on a recurring basis and include money market instruments and other short-term investments with maturities of three months or less. Fair values of these cash equivalents may be determined using public quotations, when available, which are reflected in Level 1. When public quotations are not available, because of the highly liquid nature of these assets, carrying amounts may be used to approximate fair values, which are reflected in Level 2. Separate Account Assets Separate account assets include equity securities, debt securities, cash equivalents and derivative instruments, for which fair values are determined as previously described, and are reflected in Level 1, Level 2 and Level 3. Separate account assets also include commercial mortgage loans, for which the fair value is estimated by discounting the expected total cash flows using market rates that are applicable to the yield, credit quality and maturity of the loans. The market clearing spreads vary based on mortgage type, weighted average life, rating and liquidity. These are reflected in Level 3. Finally, separate account assets include real estate, for which the fair value is estimated using discounted cash flow valuation models that utilize various public real estate market data inputs. In addition, each property is appraised annually by an independent appraiser. The real estate included in separate account assets is recorded net of related mortgage encumbrances for which the fair value is estimated using discounted cash flow analysis based on our incremental borrowing rate for similar borrowing arrangements. The real estate within the separate accounts is reflected in Level 3. Investment Contracts Certain annuity contracts and other investment contracts include embedded derivatives that have been bifurcated from the host contract and are measured at fair value on a recurring basis, which are reflected in Level 3. The key assumptions for calculating the fair value of the embedded derivative liabilities are market assumptions (such as equity market returns, interest rate levels, market volatility and correlations) and policyholder behavior assumptions (such as lapse, mortality, utilization and withdrawal patterns). Risk margins are included in the policyholder behavior assumptions. The assumptions are based on a combination of historical data and actuarial judgment. The embedded derivative liabilities are valued using stochastic models that incorporate a spread reflecting our own creditworthiness. The assumption for our own non-performance risk for investment contracts and any embedded derivatives bifurcated from certain annuity and investment contracts is based on the current market credit spreads for debt-like instruments we have issued and are available in the market. Other Liabilities Certain obligations reported in other liabilities include embedded derivatives to deliver underlying securities of structured investments to third parties. The fair value of the embedded derivatives is calculated based on the value of the underlying securities that are valued based on prices obtained from third party pricing vendors as utilized and described in our discussion of how fair value is determined for fixed maturities, which are reflected in Level 2. Certain obligations of consolidated VIEs for which the fair value option was elected were included in other liabilities. The synthetic entity that had these obligations matured in the first quarter of 2017. The VIEs’ unaffiliated obligations were valued utilizing internal pricing models, which were reflected in Level 3. Assets and Liabilities Measured at Fair Value on a Recurring Basis Assets and liabilities measured at fair value on a recurring basis were as follows: December 31, 2018 Assets/ Amount (liabilities) measured at measured at net asset Fair value hierarchy level fair value value (4) Level 1 Level 2 Level 3 (in millions) Assets Fixed maturities, available-for-sale: U.S. government and agencies $ 1,441.0 $ — $ 1,027.8 $ 413.2 $ — Non-U.S. governments 890.5 — 2.7 883.2 4.6 States and political subdivisions 6,225.7 — — 6,225.7 — Corporate 35,539.3 — 19.2 35,462.2 57.9 Residential mortgage-backed securities 2,460.6 — — 2,460.6 — Commercial mortgage-backed securities 3,945.6 — — 3,936.1 9.5 Collateralized debt obligations (1) 2,420.8 — — 2,412.5 8.3 Other debt obligations 7,185.0 — — 7,126.5 58.5 Total fixed maturities, available-for-sale 60,108.5 — 1,049.7 58,920.0 138.8 Fixed maturities, trading 636.1 — — 636.1 — Equity securities 1,843.7 — 661.2 1,182.5 — Derivative assets (2) 194.0 — — 175.4 18.6 Other investments 828.6 75.4 125.9 610.1 17.2 Cash equivalents 1,775.9 — 46.3 1,729.6 — Sub-total excluding separate account assets 65,386.8 75.4 1,883.1 63,253.7 174.6 Separate account assets 144,987.9 124.6 79,572.0 56,675.8 8,615.5 Total assets $ 210,374.7 $ 200.0 $ 81,455.1 $ 119,929.5 $ 8,790.1 Liabilities Investment contracts (3) $ (45.2) $ — $ — $ — $ (45.2) Derivative liabilities (2) (157.1) — — (141.6) (15.5) Other liabilities (3) (91.5) — — (91.5) — Total liabilities $ (293.8) $ — $ — $ (233.1) $ (60.7) Net assets $ 210,080.9 $ 200.0 $ 81,455.1 $ 119,696.4 $ 8,729.4 December 31, 2017 Assets/ Amount (liabilities) measured at measured at net asset Fair value hierarchy level fair value value (4) Level 1 Level 2 Level 3 (in millions) Assets Fixed maturities, available-for-sale: U.S. government and agencies $ 1,351.7 $ — $ 896.8 $ 454.9 $ — Non-U.S. governments 901.5 — 2.9 891.2 7.4 States and political subdivisions 6,801.6 — — 6,801.6 — Corporate 37,033.1 — 20.7 36,884.4 128.0 Residential mortgage-backed securities 2,523.3 — — 2,523.3 — Commercial mortgage-backed securities 3,708.3 — — 3,697.7 10.6 Collateralized debt obligations (1) 1,359.3 — — 1,234.3 125.0 Other debt obligations 5,709.6 — — 5,707.3 2.3 Total fixed maturities, available-for-sale 59,388.4 — 920.4 58,194.7 273.3 Fixed maturities, trading 566.0 — — 566.0 — Equity securities, available-for-sale 96.0 — 47.4 45.9 2.7 Equity securities, trading 1,770.6 — 544.0 1,226.6 — Derivative assets (2) 304.0 — — 279.8 24.2 Other investments 498.0 85.8 176.0 229.7 6.5 Cash equivalents 1,793.3 — 46.8 1,746.5 — Sub-total excluding separate account assets 64,416.3 85.8 1,734.6 62,289.2 306.7 Separate account assets 159,272.7 120.4 90,090.6 61,410.3 7,651.4 Total assets $ 223,689.0 $ 206.2 $ 91,825.2 $ 123,699.5 $ 7,958.1 Liabilities Investment contracts (3) $ (160.3) $ — $ — $ — $ (160.3) Derivative liabilities (2) (274.7) — — (268.6) (6.1) Other liabilities (3) (253.4) — — (253.4) — Total liabilities $ (688.4) $ — $ — $ (522.0) $ (166.4) Net assets $ 223,000.6 $ 206.2 $ 91,825.2 $ 123,177.5 $ 7,791.7 (1) Primarily consists of collateralized loan obligations backed by secured corporate loans. (2) Within the consolidated statements of financial position, derivative assets are reported with other investments and derivative liabilities are reported with other liabilities. The amounts are presented gross in the tables above to reflect the presentation on the consolidated statements of financial position; however, are presented net for purposes of the rollforward in the Changes in Level 3 Fair Value Measurements tables. Refer to Note 5, Derivative Financial Instruments, for further information on fair value by class of derivative instruments. (3) Includes bifurcated embedded derivatives that are reported at net asset (liability) fair value within the same line item in the consolidated statements of financial position in which the host contract is reported. (4) Certain investments are measured at fair value using the NAV per share (or its equivalent) practical expedient and have not been classified in the fair value hierarchy. Other investments using the NAV practical expedient consist of certain fund interests that are restricted until maturity with unfunded commitments totaling $32.0 million and $46.1 million as of December 31, 2018 and December 31, 2017, respectively. Separate account assets using the NAV practical expedient consist of hedge funds with varying investment strategies that also have a variety of redemption terms and conditions. We do not have unfunded commitments associated with these hedge funds. Changes in Level 3 Fair Value Measurements The reconciliation for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) was as follows: For the year ended December 31, 2018 Changes in Beginning unrealized asset/ Total realized/unrealized Ending gains (losses) (liability) gains (losses) Net purchases, asset/ included in balance Included in sales, (liability) net income as of Included other issuances Transfers Transfers balance as of relating to December 31, in net comprehensive and into out of December 31, positions 2017 income (1) income (3) settlements (4) Level 3 Level 3 2018 still held (1) (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ 7.4 $ — $ (0.1) $ (1.4) $ — $ (1.3) $ 4.6 $ — Corporate 128.0 (1.0) (0.1) (15.2) 1.0 (54.8) 57.9 — Commercial mortgage-backed securities 10.6 (3.5) 0.2 0.1 3.6 (1.5) 9.5 (1.9) Collateralized debt obligations 125.0 (0.9) 0.2 66.3 54.7 (237.0) 8.3 (0.9) Other debt obligations 2.3 — (0.2) 147.4 — (91.0) 58.5 — Total fixed maturities, available-for-sale 273.3 (5.4) — 197.2 59.3 (385.6) 138.8 (2.8) Fixed maturities, trading — — — 3.7 — (3.7) — — Equity securities 2.7 12.9 — (15.6) — — — — Other investments 6.5 1.7 — 9.0 — — 17.2 1.7 Separate account assets (2) 7,651.4 869.5 (0.3) 133.7 2.3 (41.1) 8,615.5 829.8 Liabilities Investment contracts (160.3) 107.5 0.1 7.5 — — (45.2) 109.9 Derivatives Net derivative assets 18.1 (20.2) — 5.2 — — 3.1 (18.4) For the year ended December 31, 2017 Changes in Beginning unrealized asset/ Total realized/unrealized Ending gains (losses) (liability) gains (losses) Net purchases, asset/ included in balance Included in sales, (liability) net income as of Included other issuances Transfers Transfers balance as of relating to December 31, in net comprehensive and into out of December 31, positions 2016 income (1) income (3) settlements (4) Level 3 Level 3 2017 still held (1) (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ 62.1 $ (0.2) $ (0.3) $ (19.0) $ — $ (35.2) $ 7.4 $ (0.3) Corporate 259.1 (2.3) 3.5 (29.2) 22.2 (125.3) 128.0 (0.8) Commercial mortgage-backed securities 71.1 (12.7) 11.1 (0.7) 26.3 (84.5) 10.6 (4.0) Collateralized debt obligations 33.6 — 1.7 7.3 183.7 (101.3) 125.0 — Other debt obligations 91.5 — (0.2) (0.8) 0.1 (88.3) 2.3 — Total fixed maturities, available-for-sale 517.4 (15.2) 15.8 (42.4) 232.3 (434.6) 273.3 (5.1) Fixed maturities, trading 92.9 (2.4) — (92.4) 1.9 — — — Equity securities, available-for-sale 2.7 — — — — — 2.7 — Equity securities, trading — — — (0.7) 0.7 — — — Other investments 36.9 3.9 — (34.3) — — 6.5 3.8 Separate account assets (2) 7,354.8 798.1 (1.1) (464.8) 3.1 (38.7) 7,651.4 696.0 Liabilities Investment contracts (176.5) 8.4 0.4 7.4 — — (160.3) 5.7 Other liabilities (59.9) (0.1) — 60.0 — — — — Derivatives Net derivative assets 11.3 3.1 — 3.7 — — 18.1 4.9 For the year ended December 31, 2016 Changes in Beginning unrealized asset/ Total realized/unrealized Ending gains (losses) (liability) gains (losses) Net purchases, asset/ included in balance Included in sales, (liability) net income as of Included other issuances Transfers Transfers balance as of relating to December 31, in net comprehensive and into out of December 31, positions 2015 income (1) income (3) settlements (4) Level 3 Level 3 2016 still held (1) (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ 79.1 $ (0.3) $ 1.4 $ 14.5 $ — $ (32.6) $ 62.1 $ (0.3) Corporate 223.9 (2.2) (3.2) 26.6 15.7 (1.7) 259.1 (2.2) Commercial mortgage-backed securities 4.8 (8.3) 8.8 32.7 35.4 (2.3) 71.1 (8.3) Collateralized debt obligations 63.5 — 0.8 (30.7) — — 33.6 — Other debt obligations 7.5 — 0.5 100.1 — (16.6) 91.5 — Total fixed maturities, available-for-sale 378.8 (10.8) 8.3 143.2 51.1 (53.2) 517.4 (10.8) Fixed maturities, trading 135.5 0.5 — (43.1) — — 92.9 0.1 Equity securities, available-for-sale 4.1 (1.3) (0.1) — — — 2.7 (1.4) Other investments 35.1 1.5 — 0.3 — — 36.9 1.5 Separate account assets (2) 7,013.9 718.9 — (382.5) 5.3 (0.8) 7,354.8 669.7 Liabilities Investment contracts (177.4) (5.9) — 6.8 — — (176.5) (12.6) Other liabilities (68.1) (9.2) — 17.4 — — (59.9) (7.5) Derivatives Net derivative assets (liabilities) (3.3) 11.3 0.5 2.8 — — 11.3 10.4 (1) Both realized gains (losses) and mark-to-market unrealized gains (losses) are generally reported in net realized capital gains (losses) within the consolidated statements of operations. Realized and unrealized gains (losses) on certain securities with an investment objective to realize economic value through mark-to-market changes are reported in net investment income within the consolidated statements of operations. (2) Gains and losses for separate account assets do not impact net income as the change in value of separate account assets is offset by a change in value of separate account liabilities. Foreign currency translation adjustments related to the Principal International segment separate account assets are recorded in AOCI and are offset by foreign currency translation adjustments of the corresponding separate account liabilities. (3) Includes foreign currency translation adjustments related to our Principal International segment. (4) Gross purchases, sales, issuances and settlements were: For the year ended December 31, 2018 Net purchases, sales, issuances Purchases Sales Issuances Settlements and settlements (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ — $ — $ — $ (1.4) $ (1.4) Corporate 12.9 (10.1) — (18.0) (15.2) Commercial mortgage-backed securities — — — 0.1 0.1 Collateralized debt obligations 93.6 — — (27.3) 66.3 Other debt obligations 152.0 — — (4.6) 147.4 Total fixed maturities, available-for-sale 258.5 (10.1) — (51.2) 197.2 Fixed maturities, trading 3.7 — — — 3.7 Equity securities — (15.6) — — (15.6) Other investments 9.0 — — — 9.0 Separate account assets (5) 743.0 (608.4) (206.5) 205.6 133.7 Liabilities Investment contracts — — 2.8 4.7 7.5 Derivatives Net derivative assets (liabilities) 1.8 3.4 — — 5.2 For the year ended December 31, 2017 Net purchases, sales, issuances Purchases Sales Issuances Settlements and settlements (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ 67.4 $ (85.0) $ — $ (1.4) $ (19.0) Corporate 112.3 (89.4) — (52.1) (29.2) Commercial mortgage-backed securities — — — (0.7) (0.7) Collateralized debt obligations 22.9 — — (15.6) 7.3 Other debt obligations — — — (0.8) (0.8) Total fixed maturities, available-for-sale 202.6 (174.4) — (70.6) (42.4) Fixed maturities, trading — — — (92.4) (92.4) Equity securities, trading — — — (0.7) (0.7) Other investments 2.4 (36.7) — — (34.3) Separate account assets (5) 401.4 (651.4) (284.6) 69.8 (464.8) Liabilities Investment contracts — — (0.2) 7.6 7.4 Other liabilities — — — 60.0 60.0 Derivatives Net derivative assets (liabilities) 1.5 2.2 — — 3.7 For the year ended December 31, 2016 Net purchases, sales, issuances Purchases Sales Issuances Settlements and settlements (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ 19.3 $ (3.4) $ — $ (1.4) $ 14.5 Corporate 66.0 (13.7) — (25.7) 26.6 Commercial mortgage-backed securities 35.7 — — (3.0) 32.7 Collateralized debt obligations — — — (30.7) (30.7) Other debt obligations 105.0 (2.3) — (2.6) 100.1 Total fixed maturities, available-for-sale 226.0 (19.4) — (63.4) 143.2 Fixed maturities, trading — (18.0) — (25.1) (43.1) Other investments 0.7 (0.4) — — 0.3 Separate account assets (5) 528.0 (654.5) (345.4) 89.4 (382.5) Liabilities Investment contracts — — 1.8 5.0 6.8 Other liabilities — 17.4 — — 17.4 Derivatives Net derivative assets (liabilities) 0.5 2.3 — — 2.8 (5) Transfers Transfers of assets and liabilities measured at fair value on a recurring basis between fair value hierarchy levels were as follows: For the year ended December 31, 2018 Transfers out Transfers out Transfers out Transfers out Transfers out Transfers out of Level 1 into of Level 1 into of Level 2 into of Level 2 into of Level 3 into of Level 3 into Level 2 Level 3 Level 1 Level 3 Level 1 Level 2 (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ — $ — $ — $ — $ — $ 1.3 Corporate — — — 1.0 — 54.8 Commercial mortgage-backed securities — — — 3.6 — 1.5 Collateralized debt obligations — — — 54.7 — 237.0 Other debt obligations — — — — — 91.0 Total fixed maturities, available-for-sale — — — 59.3 — 385.6 Fixed maturities, trading — — — — — 3.7 Separate account assets 293.2 — 0.8 2.3 0.2 40.9 For the year ended December 31, 2017 Transfers out Transfers out Transfers out Transfers out Transfers out Transfers out of Level 1 into of Level 1 into of Level 2 into of Level 2 into of Level 3 into of Level 3 into Level 2 Level 3 Level 1 Level 3 Level 1 Level 2 (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ — $ — $ — $ — $ — $ 35.2 Corporate — — — 22.2 — 125.3 Commercial mortgage-backed securities — — — 26.3 — 84.5 Collateralized debt obligations — — — 183.7 — 101.3 Other debt obligations — — — 0.1 — 88.3 Total fixed maturities, available-for-sale — — — 232.3 — 434.6 Fixed maturities, trading — — — 1.9 — — Equity securities, trading — — — 0.7 — — Separate account assets 12.5 — 5.9 3.1 — 38.7 For the year ended December 31, 2016 Transfers out Transfers out Transfers out Transfers out Transfers out Transfers out of Level 1 into of Level 1 into of Level 2 into of Level 2 into of Level 3 into of Level 3 into Level 2 Level 3 Level 1 Level 3 Level 1 Level 2 (in millions) Assets Fixed maturities, available-for- sale: Non-U.S. governments $ — $ — $ — $ — $ — $ 32.6 Corporate — — — 15.7 — 1.7 Commercial mortgage-backed securities — — — 35.4 — 2.3 Other debt obligations — — — — — 16.6 Total fixed maturities, available-for-sale — — — 51.1 — 53.2 Separate account assets 45.4 — 4.9 5.3

Statutory Insurance Financial I

Statutory Insurance Financial Information	12 Months Ended
	Dec. 31, 2018
Statutory Insurance Financial Information
Statutory Insurance Financial Information	15. Statutory Insurance Financial Information Principal Life, the largest indirect subsidiary of PFG, prepares statutory financial statements in accordance with the accounting practices prescribed or permitted by the Insurance Division of the Department of Commerce of the State of Iowa (the “State of Iowa”). The State of Iowa recognizes only statutory accounting practices prescribed or permitted by the State of Iowa for determining and reporting the financial condition and results of operations of an insurance company to determine its solvency under the Iowa Insurance Law. The National Association of Insurance Commissioners' (“NAIC”) Accounting Practices and Procedures Manual has been adopted as a component of prescribed practices by the State of Iowa. The Commissioner has the right to permit other specific practices that deviate from prescribed practices. For the years ended, December 31, 2018 and 2017, Principal Life’s use of prescribed statutory accounting practices resulted in higher statutory surplus of $546.3 million and $275.6 million, respectively, relative to the accounting practices and procedures of the NAIC due to its accounting for reserve credits associated with a reinsurance transaction with an affiliated reinsurer. In addition, as of December 31, 2018 and 2017, Principal Life’s permitted statutory accounting practice relating to variable annuities with a guaranteed living benefit rider resulted in lower statutory surplus of $69.9 million and $123.9 million, respectively, relative to carrying certain interest rate swaps at book value rather than fair value, as if they received hedge accounting treatment for statutory. Statutory accounting practices differ from U.S. GAAP primarily due to charging policy acquisition costs to expense as incurred, establishing reserves using different actuarial assumptions, valuing investments on a different basis and not admitting certain assets, including certain net deferred income tax assets. Principal Life cedes certain term and universal life insurance statutory reserves to our affiliated reinsurance subsidiaries on a funds withheld coinsurance basis. The reserves are secured by cash, invested assets and financing provided by highly rated third parties. As of December 31, 2018 and 2017, our affiliated reinsurance subsidiaries assumed statutory reserves of $6,850.3 million and $5,977.3 million from Principal Life, respectively. In the states of Vermont and Delaware, the affiliated reinsurers had permitted and prescribed practices allowing for the admissibility of certain assets backing these reserves. As of December 31, 2018 and 2017, assets admitted under these practices totaled $2,852.0 million and $2,417.7 million, respectively. Life and health insurance companies are subject to certain risk-based capital (“RBC”) requirements as specified by the NAIC. Under those requirements, the amount of capital and surplus maintained by a life and health insurance company is to be determined based on the various risk factors related to it. As of December 31, 2018, Principal Life met the minimum RBC requirements. Statutory net income and statutory capital and surplus of Principal Life were as follows: As of or for the year ended December 31, 2018 2017 2016 (in millions) Statutory net income $ 1,017.6 $ 1,976.7 $ 996.7 Statutory capital and surplus 5,319.6 4,946.8 4,643.8

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2018
Segment Information
Segment Information	16. Segment Information We provide financial products and services through the following segments: Retirement and Income Solutions, Principal Global Investors, Principal International and U.S. Insurance Solutions. In addition, we have a Corporate segment. The segments are managed and reported separately because they provide different products and services, have different strategies or have different markets and distribution channels. The Retirement and Income Solutions segment provides retirement and related financial products and services primarily to businesses, their employees and other individuals. The segment is organized into Retirement and Income Solutions – Fee, which includes full service accumulation, trust services and individual variable annuities; and Retirement and Income Solutions – Spread, which includes individual fixed annuities, investment only, pension risk transfer (formerly known as full service payout) and banking services. The Principal Global Investors segment provides asset management services to our asset accumulation business, our insurance operations, the Corporate segment and third party clients. This segment also includes our mutual fund business. The Principal International segment has operations in Latin America (Brazil, Chile and Mexico) and Asia (China, Hong Kong Special Administrative Region, India and Southeast Asia). We focus on locations with large middle classes, favorable demographics and growing long-term savings, ideally with voluntary or mandatory pension markets. We entered these locations through acquisitions, start-up operations and joint ventures. The U.S. Insurance Solutions segment focuses on solutions for individuals and small-to-medium sized businesses and their employees. The segment is organized into Specialty Benefits insurance, which provides group dental and vision insurance, individual and group disability insurance, critical illness, accident, group life insurance and non-medical fee-for-service claims administration; and Individual Life insurance, which provides universal life, variable universal life, indexed universal life and traditional life insurance. Our Corporate segment manages the assets representing capital that has not been allocated to any other segment. Financial results of the Corporate segment primarily reflect our financing activities (including financing costs), income on capital not allocated to other segments, inter-segment eliminations, income tax risks and certain income, expenses and other adjustments not allocated to the segments based on the nature of such items. Results of Principal Securities, Inc. (“PSI”), our retail broker-dealer and registered investment advisor (“RIA”); RobustWealth, Inc. (“RobustWealth”), our financial technology company; and our exited group medical and long-term care insurance businesses are reported in this segment. Management uses segment pre-tax operating earnings in evaluating performance, which is consistent with the financial results provided to and discussed with securities analysts. We determine segment pre-tax operating earnings by adjusting U.S. GAAP income before income taxes for pre-tax net realized capital gains (losses), as adjusted, pre-tax other adjustments that management believes are not indicative of overall operating trends and certain adjustments related to equity method investments and noncontrolling interest. While these items may be significant components in understanding and assessing the consolidated financial performance, management believes the presentation of pre-tax operating earnings enhances the understanding of our results of operations by highlighting pre-tax earnings attributable to the normal, ongoing operations of the business. The pre-tax net realized capital gains (losses), as adjusted, excluded from pre-tax operating earnings reflects consolidated U.S. GAAP pre-tax net realized capital gains (losses) excluding the following items that are included in pre-tax operating earnings: · Periodic settlements and accruals on derivative instruments not designated as hedging instruments and · Certain market value adjustments of embedded derivatives. Pre-tax net realized capital gains (losses), as adjusted, are further adjusted for: · Amortization of hedge accounting book value adjustments for certain discontinued hedges, · Certain market value adjustments to fee revenues, · Pre-tax net realized capital gains (losses) adjustments related to equity method investments, · Pre-tax net realized capital gains (losses) adjustments related to sponsored investment funds, · Recognition of deferred front-end fee revenues for sales charges on retirement and life insurance products and services, · Related changes in the amortization pattern of DAC and related actuarial balances and · Net realized capital gains (losses) distributed. Segment operating revenues reflect consolidated U.S. GAAP total revenues excluding: · Net realized capital gains (losses), except periodic settlements and accruals on derivatives not designated as hedging instruments, and their impact on: · Amortization of hedge accounting book value adjustments for certain discontinued hedges, · Certain market value adjustments to fee revenues, · Pre-tax net realized capital gains (losses) adjustments related to equity method investments, · Pre-tax net realized capital gains (losses) adjustments related to sponsored investment funds and · Recognition of deferred front-end fee revenues for sales charges on retirement and life insurance products and services. · Pre-tax other adjustments and income taxes of equity method investments and · Pre-tax other adjustments management believes are not indicative of overall operating trends. The accounting policies of the segments are consistent with the accounting policies for the consolidated financial statements, with the exception of: (1) pension and OPEB cost allocations and (2) income tax allocations. For purposes of determining pre-tax operating earnings, the segments are allocated the service component of pension and other postretirement benefit costs. The Corporate segment reflects the non-service components of pension and other postretirement benefit costs as assumptions are established and funding decisions are managed from a company-wide perspective. The Corporate segment functions to absorb the risk inherent in interpreting and applying tax law. For purposes of determining non-GAAP operating earnings, the segments are allocated tax adjustments consistent with the positions we took on tax returns. The Corporate segment results reflect any differences between the tax returns and the estimated resolution of any disputes. The following tables summarize select financial information by segment, including operating revenues for our products and services, and reconcile segment totals to those reported in the consolidated financial statements: December 31, 2018 December 31, 2017 (in millions) Assets: Retirement and Income Solutions $ 163,833.6 $ 169,757.8 Principal Global Investors 2,301.0 2,322.9 Principal International 46,701.2 51,684.0 U.S. Insurance Solutions 25,388.2 25,092.9 Corporate 4,812.1 5,083.6 Total consolidated assets $ 243,036.1 $ 253,941.2 For the year ended December 31, 2018 2017 2016 (in millions) Operating revenues by segment: Retirement and Income Solutions: Retirement and Income Solutions – Fee $ 1,831.0 $ 1,821.0 $ 1,743.2 Retirement and Income Solutions – Spread 5,454.9 5,344.6 4,407.5 Total Retirement and Income Solutions (1) 7,285.9 7,165.6 6,150.7 Principal Global Investors (2) 1,736.3 1,444.4 1,387.1 Principal International 1,372.9 1,251.5 1,252.0 U.S. Insurance Solutions: Specialty Benefits insurance 2,329.4 2,171.8 2,011.4 Individual Life insurance 1,751.7 1,731.0 1,626.1 Eliminations (0.2) (0.2) (0.2) Total U.S. Insurance Solutions 4,080.9 3,902.6 3,637.3 Corporate (51.2) (60.8) (46.3) Total segment operating revenues 14,424.8 13,703.3 12,380.8 Net realized capital gains (losses), net of related revenue adjustments (132.3) 472.2 80.9 Adjustments related to equity method investments (55.3) (82.3) (67.6) Total revenues per consolidated statements of operations $ 14,237.2 $ 14,093.2 $ 12,394.1 Pre-tax operating earnings (losses) by segment: Retirement and Income Solutions $ 880.6 $ 899.8 $ 794.5 Principal Global Investors 553.2 469.7 443.8 Principal International 255.7 330.0 288.1 U.S. Insurance Solutions 443.6 384.7 361.2 Corporate (178.6) (210.5) (218.9) Total segment pre-tax operating earnings 1,954.5 1,873.7 1,668.7 Pre-tax net realized capital gains (losses), as adjusted (3) (126.4) 520.3 46.3 Pre-tax other adjustments (4) — (70.0) (86.4) Adjustments related to equity method investments and noncontrolling interest (43.7) (71.8) (36.9) Income before income taxes per consolidated statements of operations $ 1,784.4 $ 2,252.2 $ 1,591.7 (1) Reflects inter-segment revenues of $393.6 million, $402.8 million and $373.3 million for the years ended December 31, 2018, 2017 and 2016, respectively. (2) Reflects inter-segment revenues of $262.8 million, $250.9 million and $235.7 million for the years ended December 31, 2018, 2017 and 2016, respectively. (3) Pre-tax net realized capital gains (losses), as adjusted, is derived as follows: For the year ended December 31, 2018 2017 2016 (in millions) Net realized capital gains (losses) $ (75.4) $ 524.2 $ 171.1 Derivative and hedging-related adjustments (64.9) (59.4) (94.1) Market value adjustments to fee revenues 0.1 (0.1) (2.5) Adjustments related to equity method investments (5.4) 1.4 0.1 Adjustments related to sponsored investment funds 12.9 6.3 6.1 Recognition of front-end fee revenue 0.4 (0.2) 0.2 Net realized capital gains (losses), net of related revenue adjustments (132.3) 472.2 80.9 Amortization of deferred acquisition costs and other actuarial balances (27.0) 55.0 (77.4) Capital (gains) losses distributed 14.4 (55.0) (7.2) Market value adjustments of embedded derivatives 18.5 48.1 50.0 Pre-tax net realized capital gains (losses), as adjusted (a) $ (126.4) $ 520.3 $ 46.3 (a) (4) For the year ended December 31, 2016, pre-tax other adjustments included the negative effect of one-time costs incurred to extinguish long-term debt. The following is a summary of income tax expense (benefit) allocated to our segments for purposes of determining non-GAAP operating earnings. Segment income taxes are reconciled to income taxes reported on our consolidated statements of operations. For the year ended December 31, 2018 2017 2016 (in millions) Income tax expense (benefit) by segment: Retirement and Income Solutions $ 76.9 $ 109.5 $ 98.6 Principal Global Investors 147.2 181.9 166.8 Principal International 69.8 81.8 62.7 U.S. Insurance Solutions 80.7 124.2 118.8 Corporate (17.6) (102.3) (109.3) Total segment income taxes from operating earnings 357.0 395.1 337.6 Tax expense (benefit) related to net realized capital losses, as adjusted (71.4) 209.1 (6.6) Tax benefit related to other after-tax adjustments (1) — (594.5) (34.4) Certain adjustments related to equity method investments and noncontrolling interest (54.9) (82.0) (66.7) Total income taxes per consolidated statements of operations $ 230.7 $ (72.3) $ 229.9 (1) The 2017 tax benefit includes $568.3 million associated with the U.S. tax reform. The following is a summary of depreciation and amortization expense allocated to our segments for purposes of determining pre-tax operating earnings. Segment depreciation and amortization is reconciled to depreciation and amortization included in operating expenses in our consolidated statements of operations. For the year ended December 31, 2018 2017 2016 (in millions) Depreciation and amortization expense by segment: Retirement and Income Solutions $ 32.5 $ 30.6 $ 30.4 Principal Global Investors 21.9 19.8 18.8 Principal International 59.6 53.1 50.1 U.S. Insurance Solutions 26.2 28.1 26.8 Corporate 10.8 8.2 7.4 Total depreciation and amortization expense included in our consolidated statements of operations $ 151.0 $ 139.8 $ 133.5

Revenues from Contracts with Cu

Revenues from Contracts with Customers	12 Months Ended
	Dec. 31, 2018
Revenues from Contracts with Customers
Revenues from Contracts with Customers	17. Revenues from Contracts with Customers The following tables summarize disaggregation of revenues from contracts with customers, including select financial information by segment, and reconcile totals to those reported in the consolidated financial statements. Revenues from contracts with customers are included in fees and other revenues on the consolidated statements of operations. For the year ended December 31, 2018 2017 2016 (in millions) Revenue from contracts with customers by segment: Retirement and Income Solutions: Retirement and Income Solutions – Fee $ 252.4 $ 258.0 $ 259.1 Retirement and Income Solutions – Spread 10.5 10.2 8.8 Total Retirement and Income Solutions 262.9 268.2 267.9 Principal Global Investors 1,700.5 1,406.1 1,348.9 Principal International 477.1 426.4 398.7 U.S. Insurance Solutions: Specialty Benefits insurance 14.8 13.9 13.4 Individual Life insurance 42.4 36.4 36.6 Eliminations (0.2) (0.2) Total U.S. Insurance Solutions 57.0 50.1 49.8 Corporate 161.4 148.4 125.7 Total segment revenue from contracts with customers 2,658.9 2,299.2 2,191.0 Adjustments for fees and other revenues not within the scope of revenue recognition guidance (1) 1,614.4 1,593.4 1,438.7 Pre-tax other adjustments (2) 0.5 (0.3) Total fees and other revenues per consolidated statements of operations $ 4,273.8 $ 3,892.3 $ 3,627.4 (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 - Fee Retirement and Income Solutions - Fee offers service and trust agreements for defined contribution plans, including 401(k) plans, 403(b) plans, and employee stock ownership plans. The investment components of these service agreements are in the form of mutual fund offerings. In addition, plan sponsor trust services are also available through an affiliated trust company. Fees and other revenues are earned for administrative activities performed for the defined contribution plans including recordkeeping and reporting as well as trust, asset management and investment services. The majority of these activities are performed daily over time. Fee-for-service transactions are also provided upon client request. These services are considered distinct or grouped into a bundle until a distinct performance obligation is identified. Some performance obligations are considered a series of distinct services, which are substantially the same and have the same pattern of transfer to the customer. Fees and other revenues can be based on a fixed contractual rate for these services or can be variable based upon contractual rates applied to the market value of the client's investment portfolio each day. If the consideration for this series of performance obligations is based on daily market value, it is considered variable each day as the services are performed over time. The consideration becomes unconstrained and thus recognized as revenue for each day’s series of distinct services once the market value of the clients’ investment portfolios is determined at market close or carried over at the end of the day for days when the market is closed. Additionally, fixed fees and other revenues are recognized point-in-time as fee-for-service transactions upon completion. The types of revenues from contracts with customers were as follows: For the year ended December 31, 2018 2017 2016 (in millions) Administrative service fee revenue $ 250.7 $ 256.4 $ 249.1 Other fee revenue 1.7 1.6 10.0 Total revenues from contracts with customers 252.4 258.0 259.1 Fees and other revenues not within the scope of revenue recognition guidance 1,132.9 1,111.2 1,021.5 Total fees and other revenues 1,385.3 1,369.2 1,280.6 Premiums and other considerations 4.0 3.8 0.3 Net investment income 441.7 448.0 462.3 Total operating revenues $ 1,831.0 $ 1,821.0 $ 1,743.2 Retirement and Income Solutions - Spread Retirement and Income Solutions – Spread offers individual retirement accounts (“IRAs”) through Principal Bank, which are primarily funded by retirement savings rolled over from qualified retirement plans. The IRAs are held in savings accounts, money market accounts and certificates of deposit. Revenues are earned through fees as the performance of establishing and maintaining IRA accounts is completed. Fee-for-service transactions are also provided upon client request. The establishment fees and annual maintenance fees are accrued into earnings over a period of time using the average account life. Upfront and recurring bank fees are related to performance obligations that have the same pattern of transfer to the customer and are recognized in income over time with control transferred to the customers utilizing the output method. These fees are based on a fixed contractual rate. Fixed fees and other revenues are also recognized point-in-time as fee-for-service transactions upon completion. The types of revenues from contracts with customers were as follows: For the year ended December 31, 2018 2017 2016 (in millions) Deposit account fee revenue $ 10.5 $ 10.2 $ 8.8 Total revenues from contracts with customers 10.5 10.2 8.8 Fees and other revenues not within the scope of revenue recognition guidance 12.5 15.0 15.3 Total fees and other revenues 23.0 25.2 24.1 Premiums and other considerations 3,631.9 3,667.3 2,860.6 Net investment income 1,800.0 1,652.1 1,522.8 Total operating revenues $ 5,454.9 $ 5,344.6 $ 4,407.5 Principal Global Investors Fees and other revenues earned for asset management, investment advisory and distribution services provided to institutional and retail clients are based largely upon contractual rates applied to the specified amounts of the clients’ portfolios. Each service is a distinct performance obligation, or a series of distinct services that are a single performance obligation in that the services are substantially the same and have the same pattern of transfer to the customer. Fees and other revenues received for performance obligations such as asset management and other services are typically recognized over time utilizing the output method as the service is performed. Performance fees and transaction fees on certain accounts are recognized in income when the probability of significant reversal will not occur upon resolution of the uncertainty, which could be based on a variety of factors such as market performance or other internal metrics. Asset management fees are accrued each month based on the fee terms within the applicable agreement and are generally billed quarterly when values used for the calculation are available. Management fees and performance fees are variable consideration as they are subject to fluctuation based on assets under management (“AUM”) and other constraints. These fees are not recognized until unconstrained at the end of each reporting period. The types of revenues from contracts with customers were as follows: For the year ended December 31, 2018 2017 2016 (in millions) Management fee revenue $ 1,244.5 $ 1,217.0 $ 1,120.2 Other fee revenue (1) 456.0 189.1 228.7 Total revenues from contracts with customers 1,700.5 1,406.1 1,348.9 Fees and other revenues not within the scope of revenue recognition guidance 30.4 28.1 24.2 Total fees and other revenues 1,730.9 1,434.2 1,373.1 Net investment income 5.4 10.2 14.0 Total operating revenues $ 1,736.3 $ 1,444.4 $ 1,387.1 (1) Principal International Fees and other revenues are earned for asset management and distribution services provided to retail and institutional clients in addition to trustee and/or administrative services performed for retirement savings plans. Each service is considered a distinct performance obligation; however, if the services are not distinct on their own, we combine them into a distinct bundle or we have a series of distinct services that are substantially the same and have the same pattern of transfer to the customer. Fees and other revenues are typically based upon contractual rates applied to the market value of the clients’ investment portfolios and are considered variable consideration. The transaction price generally includes the amount determined at the end of the reporting period, whereby fees are deducted from the clients’ investment portfolios and are recognized as revenue when no longer constrained and satisfied as the services are performed over time utilizing the output method. In addition, payments to customers can take the form of an incentive given by us to entice the customer to purchase its goods or services. Incentives offered to customers are recognized as part of the transaction price as a reduction of revenue either over the period the customer remains in order to receive the incentive or monthly throughout the life of the contract. Incentive-based fees are recognized in income when the probability of significant reversal will not occur upon the resolution of the uncertainty, which is based on market performance. Fees for managing customers’ mandatory retirement savings accounts in Chile are collected with each monthly deposit made by our customers. If a customer stops contributing before retirement age, we collect no fees but services are still provided. We recognize revenue from these contracts as services are performed over the life of the contract and review annually. The types of revenues from contracts with customers were as follows: For the year ended December 31, 2018 2017 2016 (in millions) Management fee revenue $ 472.1 $ 414.6 $ 392.8 Other fee revenue 5.0 11.8 5.9 Total revenues from contracts with customers 477.1 426.4 398.7 Fees and other revenues not within the scope of revenue recognition guidance 7.3 7.1 8.7 Total fees and other revenues 484.4 433.5 407.4 Premiums and other considerations 317.2 218.0 274.6 Net investment income 571.3 600.0 570.0 Total operating revenues $ 1,372.9 $ 1,251.5 $ 1,252.0 Revenues from contracts with customers by region: Latin America $ 370.8 $ 318.9 $ 309.6 Asia 106.3 108.3 89.7 Principal International corporate / regional offices 0.9 0.7 0.9 Eliminations (0.9) (1.5) (1.5) Total revenues from contracts with customers $ 477.1 $ 426.4 $ 398.7 U.S. Insurance Solutions Fees and other revenues are earned for administrative services performed including recordkeeping and reporting services for fee-for-service products, nonqualified benefit plans, separate accounts and dental networks. Services within contracts are not distinct on their own; however, we combine the services into a distinct bundle and account for the bundle as a single performance obligation, which is satisfied over time utilizing the output method as services are rendered. The transaction price corresponds with the performance completed to date, for which the value is recognized as revenue during the period. Variability of consideration is resolved at the end of each period and payments are due when billed. Commission income is earned through sponsored brokerage services. Performance obligations are satisfied at a point in time, upon delivery of a placed case, and the transaction price calculated per the compensation schedule is recognized as revenue. The types of revenues from contracts with customers were as follows: For the year ended December 31, 2018 2017 2016 (in millions) Specialty Benefits Insurance: Administrative service fees $ 14.8 $ 13.9 $ 13.4 Total revenues from contracts with customers 14.8 13.9 13.4 Fees and other revenues not within the scope of revenue recognition guidance 20.6 21.3 22.6 Total fees and other revenues 35.4 35.2 36.0 Premiums and other considerations 2,134.1 1,985.9 1,826.3 Net investment income 159.9 150.7 149.1 Total operating revenues $ 2,329.4 $ 2,171.8 $ 2,011.4 Individual Life Insurance: Administrative service fees $ 22.8 $ 21.5 $ 19.6 Commission income 19.6 14.9 17.0 Total revenues from contracts with customers 42.4 36.4 36.6 Fees and other revenues not within the scope of revenue recognition guidance 727.0 703.5 622.2 Total fees and other revenues 769.4 739.9 658.8 Premiums and other considerations 322.4 342.4 337.3 Net investment income 659.9 648.7 630.0 Total operating revenues $ 1,751.7 $ 1,731.0 $ 1,626.1 Corporate Fees and other revenues are earned on the performance of selling and servicing of securities and related products offered through PSI, an introducing broker-dealer registered with the FINRA. PSI enters into selling and distribution agreements with the obligation to sell or distribute the securities products, such as mutual funds, annuities and products sold through RIAs, to individual clients in return for a front-end sales charges, 12b-1 service fees, annuity fees and asset-based fees. Front-end sales charges, 12b-1 fees and annuity fees are related to a single sale and are earned at the time of sale. PSI also enters into agreements with individual customers to provide securities trade execution and custody through a brokerage services platform in return for ticket charge and other service fee revenue. These services are bundled as one single distinct service referred to as brokerage services. This revenue is related to distinct transactions and is earned at a point in time. PSI also enters into agreements with individual customers to provide trade execution, clearing services, custody services and investment research services through our proprietary offered fee-based products. These services are bundled as one single distinct service referred to as advisory services. In addition, for outside RIA business PSI performs sales and distribution services only. The revenues are earned over time as the service is performed utilizing the output method. A majority of our revenue is based upon contractual rates applied to the market value of the clients’ portfolios and considered variable consideration. The Corporate segment also includes inter-segment eliminations of fees and other revenues. The types of revenues from contracts with customers were as follows: For the year ended December 31, 2018 2017 2016 (in millions) Commission income $ 316.1 $ 299.7 $ 279.3 Other fee revenue 35.4 30.1 23.9 Eliminations (190.1) (181.4) (177.5) Total revenues from contracts with customers 161.4 148.4 125.7 Fees and other revenues not within the scope of revenue recognition guidance (316.3) (292.8) (275.8) Total fees and other revenues (154.9) (144.4) (150.1) Net investment income 103.7 83.6 103.8 Total operating revenues $ (51.2) $ (60.8) $ (46.3) Contract Costs Sales compensation and other incremental costs of obtaining a contract are capitalized and amortized over the period of contract benefit if the costs are expected to be recovered. The contract cost asset, which is included in other assets on the consolidated statements of financial position, was $137.6 million as of December 31, 2018. We apply the practical expedient for certain costs where we recognize the incremental costs of obtaining these contracts as an expense when incurred if the amortization period of the assets is one year or less. These costs, along with costs that are not deferrable, are included in operating expenses on the consolidated statements of operations. Deferred contract costs consist primarily of commissions and variable compensation. We amortize capitalized contract costs on a straight-line basis over the expected contract life, reflecting lapses as they are incurred. Deferred contract costs on contracts are subject to impairment testing on an annual basis, or when a triggering event occurs that could warrant an impairment. To the extent future revenues less future maintenance expenses are not adequate to cover the asset balance, an impairment is recognized. For the year ended December 31, 2018, $23.8 million of amortization expense was recorded in operating expenses on the consolidated statements of operations and no impairment loss was recognized in relation to the costs capitalized.

Stock-Based Compensation Plans

Stock-Based Compensation Plans	12 Months Ended
	Dec. 31, 2018
Stock-Based Compensation Plans
Stock-Based Compensation Plans	18. Stock‑Based Compensation Plans As of December 31, 2018, we had the 2014 Stock Incentive Plan, the Employee Stock Purchase Plan, the 2014 Directors Stock Plan, the Amended and Restated 2010 Stock Incentive Plan, the 2005 Directors Stock Plan, the Stock Incentive Plan and the Directors Stock Plan ("Stock-Based Compensation Plans"). As of May 20, 2014, no new grants will be made under the Amended and Restated 2010 Stock Incentive Plan or the 2005 Directors Stock Plan. No grants have been made under the Stock Incentive Plan or the Directors Stock Plan since at least 2005. Under the terms of the 2014 Stock Incentive Plan, grants may be nonqualified stock options, incentive stock options qualifying under Section 422 of the Internal Revenue Code, restricted stock, restricted stock units, stock appreciation rights, performance shares, performance units or other stock-based awards. The 2014 Directors Stock Plan provides for the grant of nonqualified stock options, restricted stock, restricted stock units or other stock-based awards to our nonemployee directors. To date, we have not granted any incentive stock options, restricted stock or performance units under any plans. As of December 31, 2018, the maximum number of new shares of common stock available for grant under the 2014 Stock Incentive Plan and the 2014 Directors Stock Plan was 8.7 million. For awards with graded vesting, we use an accelerated expense attribution method. The compensation cost that was charged against net income for stock-based awards granted under the Stock-Based Compensation Plans was as follows: For the year ended December 31, 2018 2017 2016 (in millions) Compensation cost $ 77.5 $ 80.6 $ 73.8 Related income tax benefit 16.7 27.1 21.5 Capitalized as part of an asset 1.9 2.5 2.8 Nonqualified Stock Options Nonqualified stock options were granted to certain employees under the 2014 Stock Incentive Plan, the Amended and Restated 2010 Stock Incentive Plan and the Stock Incentive Plan. Options outstanding were granted at an exercise price equal to the fair market value of our common stock on the date of grant and expire ten years after the grant date. These options have graded vesting over a three-year period, except in the case of specific types of terminations. Total options granted were 0.8 million, 0.7 million and 1.1 million during 2018, 2017 and 2016, respectively. The following is a summary of the status of all of our stock option plans: Weighted- average Number of options exercise price Intrinsic value (in millions) (in millions) Options outstanding as of January 1, 2018 4.3 $ 42.65 Granted 0.8 63.98 Exercised 0.8 39.23 Expired 0.1 57.26 Options outstanding as of December 31, 2018 4.2 $ 46.77 $ 20.0 Options vested or expected to vest as of December 31, 2018 4.2 $ 46.74 $ 20.0 Options exercisable as of December 31, 2018 2.8 $ 41.43 $ 17.5 The total intrinsic value of stock options exercised was $18.7 million, $53.0 million and $25.7 million during 2018, 2017, and 2016, respectively. The following is a summary of weighted‑average remaining contractual lives for stock options outstanding and the range of exercise prices on the stock options as of December 31, 2018: Weighted- Number of options average remaining Range of exercise prices outstanding contractual life (in millions) $11.07 - $21.69 0.1 0.1 $21.70 - $32.32 0.7 3.5 $32.33 - $42.95 1.0 6.4 $42.96 - $53.58 1.0 5.7 $53.59 - $64.22 1.4 8.7 $11.07 - $64.22 4.2 The weighted‑average remaining contractual lives for stock options exercisable is approximately 5.4 years as of December 31, 2018. The fair value of stock options is estimated using the Black‑Scholes option pricing model. The following is a summary of the assumptions used in this model for the stock options granted during the period: For the year ended December 31, Options 2018 2017 2016 Expected volatility 26.0 % 27.6 % 31.7 % Expected term (in years) 7.0 7.0 6.5 Risk-free interest rate 2.8 % 2.2 % 1.5 % Expected dividend yield 3.19 % 2.87 % 4.07 % Weighted average estimated fair value $ 14.85 $ 15.31 $ 8.91 We determine expected volatility based on a combination of historical volatility using daily price observations and implied volatility from traded options on our common stock. We believe that incorporating both historical and implied volatility into our expected volatility assumption calculation better reflects market expectations. The expected term represents the period of time that options granted are expected to be outstanding. We determine expected term using historical exercise and employee termination data. The risk-free rate for periods within the expected term of the option is based on the U.S. Treasury risk-free interest rate in effect at the time of grant. The dividend yield is based on historical dividend distributions compared to the closing price of our common shares on the grant date. As of December 31, 2018, we had $1.6 million of total unrecognized compensation costs related to nonvested stock options. The cost is expected to be recognized over a weighted‑average service period of approximately 1.8 years. Cash received from stock options exercised under these share‑based payment arrangements during 2018, 2017 and 2016 was $29.0 million, $133.9 million and $15.3 million, respectively. The actual tax benefits realized for the tax deductions for options exercised under these share‑based payment arrangements during 2018, 2017 and 2016 was $3.9 million, $18.1 million and $9.0 million, respectively. Performance Share Awards We granted performance share awards to certain employees under the 2014 Stock Incentive Plan and the Amended and Restated 2010 Stock Incentive Plan. The performance share awards are treated as an equity award and are paid in shares. Whether the performance shares are earned depends upon the participant's continued employment through the performance period (except in the case of specific types of terminations) and our performance against three-year goals set at the beginning of the performance period. Performance goals based on various factors must be achieved for any of the performance shares to be earned. If the performance requirements are not met, the performance shares will be forfeited, no compensation cost will be recognized and any previously recognized compensation cost will be reversed. These awards have no maximum contractual term. Dividend equivalents are credited on performance shares outstanding as of the record date. These dividend equivalents are only paid on the shares released. Total performance share awards granted were 0.2 million, 0.2 million and 0.3 million in 2018, 2017 and 2016, respectively. The following is a summary of activity for the nonvested performance share awards: Number of Weighted- performance average grant-date share awards fair value (in millions) Nonvested performance share awards as of January 1, 2018 0.8 $ 48.82 Granted 0.2 63.98 Vested 0.4 51.33 Nonvested performance share awards as of December 31, 2018 0.6 $ 52.50 The total intrinsic value of performance share awards vested was $21.5 million, $15.9 million and $18.1 million during 2018, 2017 and 2016, respectively. Performance share awards above represent initial target awards and do not reflect potential increases or decreases resulting from the final performance objectives to be determined at the end of the respective performance period. The actual number of shares to be awarded at the end of each performance period will range between 0% and 150% of the initial target awards. The fair value of performance share awards is determined based on the closing stock price of our common shares on the grant date. The weighted‑average grant-date fair value of performance share awards granted during 2018, 2017 and 2016 was $63.98, $62.98 and $37.38, respectively. As of December 31, 2018, we had $2.0 million of total unrecognized compensation cost related to nonvested performance share awards granted. The cost is expected to be recognized over a weighted‑average service period of approximately 1.6 years. Actual tax benefits realized for the tax deductions for performance share awards paid out under these share-based payment arrangements for 2018, 2017 and 2016 was $3.3 million, $5.4 million and $4.8 million, respectively. Restricted Stock Units We issue restricted stock units under the 2014 Stock Incentive Plan, the 2014 Directors Stock Plan, the Amended and Restated 2010 Stock Incentive Plan, the 2005 Directors Stock Plan, the Stock Incentive Plan, and the Directors Stock Plan. Restricted stock units are treated as an equity award and are paid in shares. These awards have no maximum contractual term. Dividend equivalents are credited on restricted stock units outstanding as of the record date. These dividend equivalents are only paid on the shares released. Restricted stock units granted were 0.8 million, 0.8 million and 1.3 million in 2018, 2017 and 2016, respectively. Restricted stock units were issued to certain employees and agents pursuant to the 2014 Stock Incentive Plan, the Amended and Restated 2010 Stock Incentive Plan and Stock Incentive Plan. Under these plans, awards have graded or cliff vesting over a three-year service period. When service for PFG ceases (except in the case of specific types of terminations), all vesting stops and unvested units are forfeited. Pursuant to the 2014 Directors Stock Plan and the 2005 Directors Stock Plan, restricted stock units are granted to each non-employee director in office immediately following each annual meeting of stockholders and, at the discretion of the Nominating and Governance Committee, to each person who becomes a member of the Board other than on the date of the annual meeting of stockholders. Under these plans, awards are granted on an annual basis and cliff vest after a one-year service period. When service to PFG ceases, all vesting stops and unvested units are forfeited. The following is a summary of activity for the nonvested restricted stock units: Number of Weighted- restricted average grant-date stock units fair value (in millions) Nonvested restricted stock units as of January 1, 2018 2.8 $ 48.70 Granted 0.8 63.68 Vested 0.8 51.63 Canceled 0.1 51.90 Nonvested restricted stock units as of December 31, 2018 2.7 $ 52.17 The total intrinsic value of restricted stock units vested was $51.1 million, $59.9 million and $46.2 during 2018, 2017 and 2016, respectively. The fair value of restricted stock units is determined based on the closing stock price of our common shares on the grant date. The weighted‑average grant-date fair value of restricted stock units granted during 2018, 2017 and 2016 was $63.68, $62.85 and $37.59, respectively. As of December 31, 2018, we had $42.6 million of total unrecognized compensation cost related to nonvested restricted stock unit awards granted under these plans. The cost is expected to be recognized over a weighted‑average period of approximately 1.7 years. The actual tax benefits realized for the tax deductions for restricted stock unit payouts under these share‑based payment arrangements for 2018, 2017 and 2016 was $10.8 million, $20.8 million and $16.1 million, respectively. Employee Stock Purchase Plan Under our Employee Stock Purchase Plan, participating employees had the opportunity to purchase shares of our common stock on a semi-annual basis through 2017. Beginning in 2018, participating employees had the opportunity to purchase shares of our common stock on a quarterly basis. Employees may purchase up to $25,000 worth of company stock each year. Employees may purchase shares of our common stock at a price equal to 85% of the shares' fair market value as of the beginning or end of the purchase period, whichever is lower. Under the Employee Stock Purchase Plan, employees purchased 0.7 million, 0.5 million and 0.7 million shares during 2018, 2017 and 2016, respectively. We recognize compensation expense for the fair value of the discount granted to employees participating in the employee stock purchase plan in the period of grant. Shares of the Employee Stock Purchase Plan are treated as an equity award. The weighted‑average fair value of the discount on the stock purchased was $9.27, $14.72 and $14.00 during 2018, 2017 and 2016, respectively. The total intrinsic value of the Employee Stock Purchase Plan shares settled was $6.1 million, $7.9 million and $10.2 million during 2018, 2017 and 2016, respectively. Cash received from shares issued under these share‑based payment arrangements for 2018, 2017 and 2016 was $30.1 million, $27.6 million and $25.5 million, respectively. The actual tax benefit realized for the tax deductions for the settlement of the share‑based payment arrangements for 2018, 2017 and 2016 was $0.7 million, $2.0 million and $0.6 million, respectively. As of December 31, 2018, a total of 2.2 million of new shares were available to be made issuable by us for this plan.

Earnings Per Common Share

Earnings Per Common Share	12 Months Ended
	Dec. 31, 2018
Earnings Per Common Share
Earnings Per Common Share	19. Earnings Per Common Share The computations of the basic and diluted per share amounts were as follows: For the year ended December 31, 2018 2017 2016 (in millions, except per share data) Net income $ 1,553.7 $ 2,324.5 $ 1,361.8 Subtract: Net income attributable to noncontrolling interest 7.2 14.1 45.3 Total $ 1,546.5 $ 2,310.4 $ 1,316.5 Weighted-average shares outstanding: Basic 285.8 288.9 289.4 Dilutive effects: Stock options 1.0 2.0 1.3 Restricted stock units 1.7 2.0 1.7 Performance share awards 0.3 0.2 0.3 Diluted 288.8 293.1 292.7 Net income per common share: Basic $ 5.41 $ 8.00 $ 4.55 Diluted $ 5.36 $ 7.88 $ 4.50 The calculation of diluted earnings per share for the years ended December 31, 2018, 2017 and 2016, excludes the incremental effect related to certain outstanding stock-based compensation grants due to their anti-dilutive effect.

Quarterly Results of Operations

Quarterly Results of Operations (Unaudited)	12 Months Ended
	Dec. 31, 2018
Quarterly Results of Operations (Unaudited)
Quarterly Results of Operations (Unaudited)	20. Quarterly Results of Operations (Unaudited) The following is a summary of unaudited quarterly results of operations. For the three months ended , December 31, September 30, June 30, March 31, (in millions, except per share data) 2018 Total revenues $ 3,770.6 $ 4,348.1 $ 3,234.9 $ 2,883.6 Total expenses 3,527.7 3,779.0 2,719.5 2,426.6 Net income 231.7 460.0 459.5 402.5 Net income attributable to PFG 236.5 456.3 456.6 397.1 Basic earnings per common share 0.84 1.60 1.59 1.37 Diluted earnings per common share 0.83 1.59 1.58 1.36 2017 Total revenues $ 3,237.7 $ 4,627.8 $ 3,178.3 $ 3,049.4 Total expenses 2,922.9 3,470.0 2,812.7 2,635.4 Net income 842.9 813.2 314.8 353.6 Net income attributable to PFG 841.8 810.2 309.5 348.9 Basic earnings per common share 2.91 2.80 1.07 1.21 Diluted earnings per common share 2.87 2.76 1.06 1.19

Condensed Consolidating Financi

Condensed Consolidating Financial Information	12 Months Ended
	Dec. 31, 2018
Condensed Consolidating Financial Information
Condensed Consolidating Financial Information	21. Condensed Consolidating Financial Information Principal Life has established special purpose entities to issue secured medium-term notes. Under the program, the payment obligations of principal and interest on the notes are secured by funding agreements issued by Principal Life. Principal Life's payment obligations on the funding agreements are fully and unconditionally guaranteed by PFG. All of the outstanding stock of Principal Life is indirectly owned by PFG and PFG is the only guarantor of the payment obligations of the funding agreements. The following tables set forth condensed consolidating financial information of (i) PFG, (ii) Principal Life, (iii) PFS and all other direct and indirect subsidiaries of PFG on a combined basis and (iv) the eliminations necessary to arrive at the information for PFG on a consolidated basis as of December 31, 2018 and December 31, 2017, and for the years ended December 31, 2018, 2017 and 2016. In presenting the condensed consolidating financial statements, the equity method of accounting has been applied to (i) PFG’s interest in all direct subsidiaries of PFG, (ii) Principal Life’s interest in all direct subsidiaries of Principal Life and (iii) PFS’s interest in Principal Life even though all such subsidiaries meet the requirements to be consolidated under U.S. GAAP. Earnings of subsidiaries are, therefore, reflected in the parent’s investment and earnings. All intercompany balances and transactions, including elimination of the parent’s investment in subsidiaries, between PFG, Principal Life and PFS and all other subsidiaries have been eliminated, as shown in the column “Eliminations.” These condensed consolidating financial statements should be read in conjunction with the consolidated financial statements. The financial information may not necessarily be indicative of results of operations, cash flows or financial position had the subsidiaries operated as independent entities. PFG sponsors nonqualified benefit plans for select employees and agents and is responsible for the obligations of these plans. Nonqualified plan assets are held in Rabbi trusts for the benefit of all nonqualified plan participants. The Rabbi trusts are separate legal entities and are not a part of PFG on a stand-alone basis. The plan assets are available to satisfy the claims of general creditors only in the event of bankruptcy and are, therefore, consolidated in our statements of financial position. Condensed Consolidating Statements of Financial Position December 31, 2018 Principal Principal Life Principal Financial Principal Financial Insurance Services, Inc. and Financial Group, Inc. Company Other Subsidiaries Group, Inc. Parent Only Only Combined (1) Eliminations Consolidated (in millions) Assets Fixed maturities, available-for-sale $ 211.5 $ 53,401.7 $ 6,857.9 $ (362.6) $ 60,108.5 Fixed maturities, trading 308.9 165.5 161.7 — 636.1 Equity securities — 84.8 1,758.9 — 1,843.7 Mortgage loans — 14,478.0 1,615.5 (756.6) 15,336.9 Real estate — 1.9 1,727.8 — 1,729.7 Policy loans — 755.9 45.5 — 801.4 Investment in unconsolidated entities 13,862.4 2,324.4 6,853.8 (22,171.8) 868.8 Other investments 10.7 5,549.1 2,517.6 (4,635.9) 3,441.5 Cash and cash equivalents 334.9 1,323.9 2,014.8 (696.1) 2,977.5 Accrued investment income 1.4 563.2 77.5 (5.9) 636.2 Premiums due and other receivables — 1,818.1 3,781.3 (4,186.3) 1,413.1 Deferred acquisition costs — 3,680.2 13.3 — 3,693.5 Property and equipment — 661.3 106.0 — 767.3 Goodwill — 54.3 1,045.7 — 1,100.0 Other intangibles — 19.7 1,295.4 — 1,315.1 Separate account assets — 107,343.0 37,644.9 — 144,987.9 Other assets 375.0 1,135.1 4,418.3 (4,549.5) 1,378.9 Total assets $ 15,104.8 $ 193,360.1 $ 71,935.9 $ (37,364.7) $ 243,036.1 Liabilities Contractholder funds $ — $ 36,861.7 $ 3,189.2 $ (351.2) $ 39,699.7 Future policy benefits and claims — 30,690.3 6,128.6 (1,154.1) 35,664.8 Other policyholder funds — 725.7 165.3 (2.6) 888.4 Short-term debt — — 42.9 — 42.9 Long-term debt 3,129.8 — 851.2 (721.4) 3,259.6 Income taxes currently payable — — 80.7 (55.4) 25.3 Deferred income taxes — 405.3 1,056.4 (503.3) 958.4 Separate account liabilities — 107,343.0 37,644.9 — 144,987.9 Other liabilities 585.0 8,503.2 8,586.5 (12,012.8) 5,661.9 Total liabilities 3,714.8 184,529.2 57,745.7 (14,800.8) 231,188.9 Redeemable noncontrolling interest — — 391.2 — 391.2 Stockholders' equity Common stock 4.8 2.5 — (2.5) 4.8 Additional paid-in capital 10,060.7 6,331.6 9,461.2 (15,792.8) 10,060.7 Retained earnings 10,290.2 2,441.2 5,855.0 (8,296.2) 10,290.2 Accumulated other comprehensive income (loss) (1,565.1) 55.6 (1,583.2) 1,527.6 (1,565.1) Treasury stock, at cost (7,400.6) — — — (7,400.6) Total stockholders' equity attributable to PFG 11,390.0 8,830.9 13,733.0 (22,563.9) 11,390.0 Noncontrolling interest — — 66.0 — 66.0 Total stockholders’ equity 11,390.0 8,830.9 13,799.0 (22,563.9) 11,456.0 Total liabilities and stockholders' equity $ 15,104.8 $ 193,360.1 $ 71,935.9 $ (37,364.7) $ 243,036.1 (1) PFG sponsors nonqualified benefit plans. Nonqualified benefit plan assets and liabilities held in Rabbi trusts were $671.7 million and $542.4 million, respectively. Condensed Consolidating Statements of Financial Position December 31, 2017 Principal Principal Life Principal Financial Principal Financial Insurance Services, Inc. and Financial Group, Inc. Company Other Subsidiaries Group, Inc. Parent Only Only Combined (1) Eliminations Consolidated (in millions) Assets Fixed maturities, available-for-sale $ — $ 52,632.1 $ 7,120.3 $ (364.0) $ 59,388.4 Fixed maturities, trading 351.8 49.1 165.1 — 566.0 Equity securities — 100.1 1,766.5 — 1,866.6 Mortgage loans — 13,389.6 1,449.6 (688.7) 14,150.5 Real estate — 3.0 1,733.7 — 1,736.7 Policy loans — 765.7 42.6 — 808.3 Investment in unconsolidated entities 15,063.2 2,658.2 7,491.4 (24,392.2) 820.6 Other investments 10.2 4,986.0 2,231.9 (4,462.5) 2,765.6 Cash and cash equivalents 842.8 426.7 1,526.4 (325.1) 2,470.8 Accrued investment income 1.1 538.8 77.7 (7.0) 610.6 Premiums due and other receivables — 1,720.1 3,362.4 (3,612.7) 1,469.8 Deferred acquisition costs — 3,331.5 209.2 — 3,540.7 Property and equipment — 653.3 106.2 — 759.5 Goodwill — 54.3 1,014.5 — 1,068.8 Other intangibles — 21.6 1,293.1 — 1,314.7 Separate account assets — 117,300.8 41,971.9 — 159,272.7 Other assets 389.7 1,177.5 4,346.0 (4,582.3) 1,330.9 Total assets $ 16,658.8 $ 199,808.4 $ 75,908.5 $ (38,434.5) $ 253,941.2 Liabilities Contractholder funds $ — $ 35,330.2 $ 3,092.8 $ (340.5) $ 38,082.5 Future policy benefits and claims — 27,794.0 6,155.0 (929.7) 33,019.3 Other policyholder funds — 794.5 128.6 (0.8) 922.3 Short-term debt — — 39.5 — 39.5 Long-term debt 3,128.1 — 710.4 (660.1) 3,178.4 Income taxes currently payable — — 166.2 (149.5) 16.7 Deferred income taxes — 731.6 986.9 (626.0) 1,092.5 Separate account liabilities — 117,300.8 41,971.9 — 159,272.7 Other liabilities 681.4 7,910.9 7,533.6 (10,831.8) 5,294.1 Total liabilities 3,809.5 189,862.0 60,784.9 (13,538.4) 240,918.0 Redeemable noncontrolling interest — — 101.3 — 101.3 Stockholders' equity Common stock 4.7 2.5 — (2.5) 4.7 Additional paid-in capital 9,925.2 6,346.0 9,053.5 (15,399.5) 9,925.2 Retained earnings 9,482.9 2,238.1 5,311.7 (7,549.8) 9,482.9 Accumulated other comprehensive income 165.5 1,359.8 579.4 (1,939.2) 165.5 Treasury stock, at cost (6,729.0) — — — (6,729.0) Total stockholders' equity attributable to PFG 12,849.3 9,946.4 14,944.6 (24,891.0) 12,849.3 Noncontrolling interest — — 77.7 (5.1) 72.6 Total stockholders’ equity 12,849.3 9,946.4 15,022.3 (24,896.1) 12,921.9 Total liabilities and stockholders' equity $ 16,658.8 $ 199,808.4 $ 75,908.5 $ (38,434.5) $ 253,941.2 (1) PFG sponsors nonqualified benefit plans. Nonqualified benefit plan assets and liabilities held in Rabbi trusts were $643.3 million and $524.7 million, respectively. Condensed Consolidating Statements of Operations For the year ended December 31, 2018 Principal Principal Life Principal Financial Principal Financial Insurance Services, Inc. and Financial Group, Inc. Company Other Subsidiaries Group, Inc. Parent Only Only Combined Eliminations Consolidated (in millions) Revenues Premiums and other considerations $ — $ 5,846.0 $ 563.6 $ — $ 6,409.6 Fees and other revenues — 2,174.4 2,487.0 (387.6) 4,273.8 Net investment income 25.8 2,655.7 2,192.6 (1,244.9) 3,629.2 Net realized capital gains (losses), excluding impairment losses on available-for-sale securities (8.2) 118.8 (175.1) 18.2 (46.3) Net other-than-temporary impairment losses on available-for-sale securities — 14.1 (3.5) — 10.6 Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified to (from) other comprehensive income — (40.1) 0.4 — (39.7) Net impairment losses on available-for-sale securities — (26.0) (3.1) — (29.1) Net realized capital gains (losses) (8.2) 92.8 (178.2) 18.2 (75.4) Total revenues 17.6 10,768.9 5,065.0 (1,614.3) 14,237.2 Expenses Benefits, claims and settlement expenses — 7,346.3 857.1 (10.9) 8,192.5 Dividends to policyholders — 123.6 — — 123.6 Operating expenses 191.9 2,320.1 1,982.7 (358.0) 4,136.7 Total expenses 191.9 9,790.0 2,839.8 (368.9) 12,452.8 Income (loss) before income taxes (174.3) 978.9 2,225.2 (1,245.4) 1,784.4 Income taxes (benefits) (62.5) 60.0 235.0 (1.8) 230.7 Equity in the net income (loss) of subsidiaries 1,658.3 334.7 (335.3) (1,657.7) — Net income 1,546.5 1,253.6 1,654.9 (2,901.3) 1,553.7 Net income attributable to noncontrolling interest — — 7.2 — 7.2 Net income attributable to PFG $ 1,546.5 $ 1,253.6 $ 1,647.7 $ (2,901.3) $ 1,546.5 Net income $ 1,546.5 $ 1,253.6 $ 1,654.9 $ (2,901.3) $ 1,553.7 Other comprehensive loss (1,824.5) (1,548.5) (1,928.5) 3,465.8 (1,835.7) Comprehensive loss $ (278.0) $ (294.9) $ (273.6) $ 564.5 $ (282.0) Condensed Consolidating Statements of Operations For the year ended December 31, 2017 Principal Principal Life Principal Financial Principal Financial Insurance Services, Inc. and Financial Group, Inc. Company Other Subsidiaries Group, Inc. Parent Only Only Combined Eliminations Consolidated (in millions) Revenues Premiums and other considerations $ — $ 5,777.7 $ 439.7 $ — $ 6,217.4 Fees and other revenues 7.8 2,140.9 2,163.4 (419.8) 3,892.3 Net investment income 9.7 2,533.1 3,180.9 (2,264.4) 3,459.3 Net realized capital gains (losses), excluding impairment losses on available-for-sale securities (0.6) (84.5) 691.8 (0.7) 606.0 Net other-than-temporary impairment losses recoveries on available-for-sale securities — (28.2) (0.5) — (28.7) Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified from other comprehensive income — (46.4) (6.7) — (53.1) Net impairment losses on available-for-sale securities — (74.6) (7.2) — (81.8) Net realized capital gains (losses) (0.6) (159.1) 684.6 (0.7) 524.2 Total revenues 16.9 10,292.6 6,468.6 (2,684.9) 14,093.2 Expenses Benefits, claims and settlement expenses — 7,153.5 679.9 (10.8) 7,822.6 Dividends to policyholders — 124.6 — — 124.6 Operating expenses 238.1 2,185.4 1,823.2 (352.9) 3,893.8 Total expenses 238.1 9,463.5 2,503.1 (363.7) 11,841.0 Income (loss) before income taxes (221.2) 829.1 3,965.5 (2,321.2) 2,252.2 Income taxes (benefits) 63.1 (540.1) 376.4 28.3 (72.3) Equity in the net income (loss) of subsidiaries (1) 2,594.7 901.5 (1,005.3) (2,490.9) — Net income 2,310.4 2,270.7 2,583.8 (4,840.4) 2,324.5 Net income attributable to noncontrolling interest — — 14.1 — 14.1 Net income attributable to PFG $ 2,310.4 $ 2,270.7 $ 2,569.7 $ (4,840.4) $ 2,310.4 Net income $ 2,310.4 $ 2,270.7 $ 2,583.8 $ (4,840.4) $ 2,324.5 Other comprehensive income 840.3 611.6 877.6 (1,485.2) 844.3 Comprehensive income $ 3,150.7 $ 2,882.3 $ 3,461.4 $ (6,325.6) $ 3,168.8 (1) Principal Life Insurance Company Only includes income from discontinued operations of $35.5 million related to its sale of Principal Global Investors, LLC to PFS in connection with a corporate reorganization. Condensed Consolidating Statements of Operations For the year ended December 31, 2016 Principal Principal Life Principal Financial Principal Financial Insurance Services, Inc. and Financial Group, Inc. Company Other Subsidiaries Group, Inc. Parent Only Only Combined Eliminations Consolidated (in millions) Revenues Premiums and other considerations $ — $ 4,869.0 $ 430.1 $ — $ 5,299.1 Fees and other revenues — 1,956.1 2,061.1 (389.8) 3,627.4 Net investment income 3.4 2,300.2 2,004.7 (1,011.8) 3,296.5 Net realized capital gains, excluding impairment losses on available-for-sale securities — 210.4 48.1 11.0 269.5 Net other-than-temporary impairment losses on available-for-sale securities — (92.2) (6.6) — (98.8) Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified to (from) other comprehensive income — (3.0) 3.4 — 0.4 Net impairment losses on available-for-sale securities — (95.2) (3.2) — (98.4) Net realized capital gains — 115.2 44.9 11.0 171.1 Total revenues 3.4 9,240.5 4,540.8 (1,390.6) 12,394.1 Expenses Benefits, claims and settlement expenses — 6,177.9 746.3 (11.0) 6,913.2 Dividends to policyholders — 156.6 — — 156.6 Operating expenses 312.3 2,113.9 1,629.7 (323.3) 3,732.6 Total expenses 312.3 8,448.4 2,376.0 (334.3) 10,802.4 Income (loss) before income taxes (308.9) 792.1 2,164.8 (1,056.3) 1,591.7 Income taxes (benefits) (134.9) 97.9 270.0 (3.1) 229.9 Equity in the net income (loss) of subsidiaries (1) 1,490.5 395.9 (366.0) (1,520.4) — Net income 1,316.5 1,090.1 1,528.8 (2,573.6) 1,361.8 Net income attributable to noncontrolling interest — — 45.3 — 45.3 Net income attributable to PFG $ 1,316.5 $ 1,090.1 $ 1,483.5 $ (2,573.6) $ 1,316.5 Net income $ 1,316.5 $ 1,090.1 $ 1,528.8 $ (2,573.6) $ 1,361.8 Other comprehensive income 218.8 $ 116.5 $ 218.1 $ (332.4) $ 221.0 Comprehensive income $ 1,535.3 $ 1,206.6 $ 1,746.9 $ (2,906.0) $ 1,582.8 (1) Principal Life Insurance Company Only includes income from discontinued operations of $132.6 million related to its sale of Principal Global Investors, LLC to PFS in connection with a corporate reorganization. Condensed Consolidating Statements of Cash Flows For the year ended December 31, 2018 Principal Principal Life Principal Financial Principal Financial Insurance Services, Inc. and Financial Group, Inc. Company Other Subsidiaries Group, Inc. Parent Only Only Combined Eliminations Consolidated (in millions) Operating activities Net cash provided by (used in) operating activities $ (132.4) $ 5,410.9 $ 473.1 $ (595.1) $ 5,156.5 Investing activities Fixed maturities available-for-sale and equity securities with intent to hold: Purchases (210.9) (11,457.5) (2,249.2) 7.8 (13,909.8) Sales — 2,557.9 1,255.2 — 3,813.1 Maturities 2.3 5,660.9 554.4 — 6,217.6 Mortgage loans acquired or originated — (3,060.0) (497.0) 109.5 (3,447.5) Mortgage loans sold or repaid — 1,967.4 297.8 (36.8) 2,228.4 Real estate acquired — — (88.1) — (88.1) Real estate sold — — 63.5 — 63.5 Net purchases of property and equipment (0.1) (50.5) (41.7) — (92.3) Purchase of interests in subsidiaries, net of cash acquired — — (184.7) — (184.7) Dividends and returns of capital received from unconsolidated entities 1,041.6 50.1 861.6 (1,953.3) — Net change in other investments (2.2) (626.1) 120.7 204.9 (302.7) Net cash provided by (used in) investing activities 830.7 (4,957.8) 92.5 (1,667.9) (5,702.5) Financing activities Issuance of common stock 64.0 — — — 64.0 Acquisition of treasury stock (671.6) — — — (671.6) Payments for financing element derivatives — (65.9) — — (65.9) Purchase of subsidiary shares from noncontrolling interest — — (31.1) — (31.1) Dividends to common stockholders (598.6) — — — (598.6) Issuance of long-term debt — — 178.9 (98.1) 80.8 Principal repayments of long-term debt — — (38.1) 36.8 (1.3) Net proceeds from short-term borrowings — — 8.5 — 8.5 Dividends and capital paid to parent — (861.6) (1,091.7) 1,953.3 — Investment contract deposits — 7,896.0 412.8 — 8,308.8 Investment contract withdrawals — (6,520.1) (69.5) — (6,589.6) Net increase in banking operation deposits — — 553.0 — 553.0 Other — (4.3) — — (4.3) Net cash provided by (used in) financing activities (1,206.2) 444.1 (77.2) 1,892.0 1,052.7 Net increase (decrease) in cash and cash equivalents (507.9) 897.2 488.4 (371.0) 506.7 Cash and cash equivalents at beginning of period 842.8 426.7 1,526.4 (325.1) 2,470.8 Cash and cash equivalents at end of period $ 334.9 $ 1,323.9 $ 2,014.8 $ (696.1) $ 2,977.5 Condensed Consolidating Statements of Cash Flows For the year ended December 31, 2017 Principal Principal Life Principal Financial Principal Financial Insurance Services, Inc. and Financial Group, Inc. Company Other Subsidiaries Group, Inc. Parent Only Only Combined Eliminations Consolidated (in millions) Operating activities Net cash provided by (used in) operating activities $ (443.2) $ 5,571.5 $ (2,114.7) $ 1,174.4 $ 4,188.0 Investing activities Fixed maturities available-for-sale and equity securities with intent to hold: Purchases — (12,054.5) (1,317.1) — (13,371.6) Sales — 1,005.3 425.1 (16.8) 1,413.6 Maturities — 7,894.7 848.5 — 8,743.2 Mortgage loans acquired or originated — (2,629.8) (448.1) 322.1 (2,755.8) Mortgage loans sold or repaid — 1,696.2 388.4 (212.6) 1,872.0 Real estate acquired — — (200.5) — (200.5) Real estate sold — — 481.9 — 481.9 Net purchases of property and equipment (0.1) (108.1) (56.6) — (164.8) Dividends and returns of capital received from unconsolidated entities 1,002.5 149.7 1,845.9 (2,998.1) — Net change in other investments (1.1) 281.9 155.4 (507.0) (70.8) Net cash provided by (used in) investing activities 1,001.3 (3,764.6) 2,122.9 (3,412.4) (4,052.8) Financing activities Issuance of common stock 162.5 — — — 162.5 Acquisition of treasury stock (220.4) — — — (220.4) Proceeds from financing element derivatives — 0.1 — — 0.1 Payments for financing element derivatives — (77.6) — — (77.6) Purchase of subsidiary shares from noncontrolling interest — — (16.2) 2.9 (13.3) Sale of subsidiary shares to noncontrolling interest — — 2.9 (2.9) — Dividends to common stockholders (540.0) — — — (540.0) Issuance of long-term debt — — 380.5 (377.7) 2.8 Principal repayments of long-term debt — — (269.9) 213.4 (56.5) Net repayments of short-term borrowings — — (15.5) — (15.5) Dividends and capital paid to parent — (1,845.9) (1,152.2) 2,998.1 — Investment contract deposits — 9,760.5 393.9 — 10,154.4 Investment contract withdrawals — (9,889.9) (24.7) — (9,914.6) Net increase in banking operation deposits — — 136.6 — 136.6 Other — (2.5) — — (2.5) Net cash used in financing activities (597.9) (2,055.3) (564.6) 2,833.8 (384.0) Net decrease in cash and cash equivalents (39.8) (248.4) (556.4) 595.8 (248.8) Cash and cash equivalents at beginning of period 882.6 675.1 2,082.8 (920.9) 2,719.6 Cash and cash equivalents at end of period $ 842.8 $ 426.7 $ 1,526.4 $ (325.1) $ 2,470.8 Condensed Consolidating Statements of Cash Flows For the year ended December 31, 2016 Principal Principal Life Principal Financial Principal Financial Insurance Services, Inc. and Financial Group, Inc. Company Other Subsidiaries Group, Inc. Parent Only Only Combined Eliminations Consolidated (in millions) Operating activities Net cash provided by (used in) operating activities $ (188.6) $ 3,657.5 $ 1,601.1 $ (1,212.2) $ 3,857.8 Investing activities Fixed maturities available-for-sale and equity securities with intent to hold: Purchases — (12,771.1) (1,005.8) 13.1 (13,763.8) Sales — 1,312.7 577.8 — 1,890.5 Maturities — 7,097.4 645.4 — 7,742.8 Mortgage loans acquired or originated — (2,615.7) (333.5) 60.2 (2,889.0) Mortgage loans sold or repaid — 1,843.6 274.7 (49.6) 2,068.7 Real estate acquired — — (109.7) — (109.7) Real estate sold — 3.5 32.0 — 35.5 Net purchases of property and equipment (0.1) (113.2) (41.6) — (154.9) Dividends and returns of capital received from unconsolidated entities 1,295.3 3.1 1,195.0 (2,493.4) — Net change in other investments 1.3 314.2 (954.8) 665.3 26.0 Net cash provided by (used in) investing activities 1,296.5 (4,925.5) 279.5 (1,804.4) (5,153.9) Financing activities Issuance of common stock 37.8 — — — 37.8 Acquisition of treasury stock (277.3) — — — (277.3) Proceeds from financing element derivatives — 0.4 — — 0.4 Payments for financing element derivatives — (87.7) — — (87.7) Excess tax benefits from share-based payment arrangements 0.7 4.7 6.6 — 12.0 Purchase of subsidiary shares from noncontrolling interest — — (4.3) 1.9 (2.4) Sale of subsidiary shares to noncontrolling interest — — 1.9 (1.9) — Dividends to common stockholders (464.9) — — — (464.9) Issuance of long-term debt 644.2 — 6.8 5.1 656.1 Principal repayments of long-term debt (744.5) — (47.5) (7.3) (799.3) Net repayments of short-term borrowings — — (131.4) — (131.4) Dividends and capital paid to parent — (1,195.0) (1,298.4) 2,493.4 — Investment contract deposits — 10,465.8 305.1 — 10,770.9 Investment contract withdrawals — (8,373.3) (19.4) — (8,392.7) Net increase in banking operation deposits — — 129.0 — 129.0 Other — 0.3 0.1 — 0.4 Net cash provided by (used in) financing activities (804.0) 815.2 (1,051.5) 2,491.2 1,450.9 Net increase (decrease) in cash and cash equivalents 303.9 (452.8) 829.1 (525.4) 154.8 Cash and cash equivalents at beginning of period 578.7 1,127.9 1,253.7 (395.5) 2,564.8 Cash and cash equivalents at end of period $ 882.6 $ 675.1 $ 2,082.8 $ (920.9) $ 2,719.6 Under our current shelf registration that was filed with the SEC and became effective May 3, 2017, we have the ability to issue, in unlimited amounts, unsecured senior debt securities or subordinated debt securities, junior subordinated debt, preferred stock, common stock, warrants, depositary shares, purchase contracts and purchase units of PFG. Our wholly owned subsidiary, PFS, may guarantee, fully and unconditionally or otherwise, our obligations with respect to any non-convertible securities, other than common stock, described in the shelf registration. The following tables set forth condensed consolidating financial information of (i) PFG, (ii) PFS, (iii) Principal Life and all other direct and indirect subsidiaries of PFG on a combined basis and (iv) the eliminations necessary to arrive at the information for PFG on a consolidated basis as of December 31, 2018 and December 31, 2017, and for the years ended December 31, 2018, 2017 and 2016. In presenting the condensed consolidating financial statements, the equity method of accounting has been applied to (i) PFG’s interest in all direct subsidiaries of PFG and (ii) PFS’s interest in Principal Life and all other subsidiaries, where applicable, even though all such subsidiaries meet the requirements to be consolidated under U.S. GAAP. Earnings of subsidiaries are, therefore, reflected in the parent’s investment and earnings. All intercompany balances and transactions, including elimination of the parent’s investment in subsidiaries, between PFG, PFS and Principal Life and all other subsidiaries have been eliminated, as shown in the column “Eliminations.” These condensed consolidating financial statements should be read in conjunction with the consolidated financial statements. The financial information may not necessarily be indicative of results of operations, cash flows or financial position had the subsidiaries operated as independent entities. PFG sponsors nonqualified benefit plans for select employees and agents and is responsible for the obligations of these plans. Nonqualified plan assets are held in Rabbi trusts for the benefit of all nonqualified plan participants. The Rabbi trusts are separate legal entities and are not a part of PFG on a stand-alone basis. The plan assets are available to satisfy the claims of general creditors only in the event of bankruptcy and are, therefore, consolidated in our statements of financial position. Condensed Consolidating Statements of Financial Position December 31, 2018 Principal Life Principal Principal Insurance Company Principal Financial Financial and Other Financial Group, Inc. Services, Inc. Subsidiaries Group, Inc. Parent Only Only Combined (1) Eliminations Consolidated (in millions) Assets Fixed maturities, available-for-sale $ 211.5 $ — $ 59,897.0 $ — $ 60,108.5 Fixed maturities, trading 308.9 — 327.2 — 636.1 Equity securities — 11.9 1,831.8 — 1,843.7 Mortgage loans — — 15,336.9 — 15,336.9 Real estate — — 1,729.7 — 1,729.7 Policy loans — — 801.4 — 801.4 Investment in unconsolidated entities 13,862.4 14,325.5 726.0 (28,045.1) 868.8 Other investments 10.7 100.9 3,329.9 — 3,441.5 Cash and cash equivalents 334.9 649.0 3,096.8 (1,103.2) 2,977.5 Accrued investment income 1.4 0.3 634.5 — 636.2 Premiums due and other receivables — 0.5 1,779.6 (367.0) 1,413.1 Deferred acquisition costs — — 3,693.5 — 3,693.5 Property and equipment — — 767.3 — 767.3 Goodwill — — 1,100.0 — 1,100.0 Other intangibles — — 1,315.1 — 1,315.1 Separate account assets — — 144,987.9 — 144,987.9 Other assets 375.0 38.7 1,521.9 (556.7) 1,378.9 Total assets $ 15,104.8 $ 15,126.8 $ 242,876.5 $ (30,072.0) $ 243,036.1 Liabilities Contractholder funds $ — $ — $ 39,699.7 $ — $ 39,699.7 Future policy benefits and claims — — 35,664.8 — 35,664.8 Other policyholder funds — — 888.4 — 888.4 Short-term debt — — 42.9 — 42.9 Long-term debt 3,129.8 366.7 129.9 (366.8) 3,259.6 Income taxes currently payable — 9.8 61.5 (46.0) 25.3 Deferred income taxes — 13.9 1,446.4 (501.9) 958.4 Separate account liabilities — — 144,987.9 — 144,987.9 Other liabilities 585.0 1,002.9 4,838.1 (764.1) 5,661.9 Total liabilities 3,714.8 1,393.3 227,759.6 (1,678.8) 231,188.9 Redeemable noncontrolling interest — — 391.2 — 391.2 Stockholders' equity Common stock 4.8 — 11.0 (11.0) 4.8 Additional paid-in capital 10,060.7 9,100.0 12,004.5 (21,104.5) 10,060.7 Retained earnings 10,290.2 5,716.8 3,549.8 (9,266.6) 10,290.2 Accumulated other comprehensive loss (1,565.1) (1,083.3) (903.6) 1,986.9 (1,565.1) Treasury stock, at cost (7,400.6) — (2.0) 2.0 (7,400.6) Total stockholders' equity attributable to PFG 11,390.0 13,733.5 14,659.7 (28,393.2) 11,390.0 Noncontrolling interest — — 66.0 — 66.0 Total stockholders' equity 11,390.0 13,733.5 14,725.7 (28,393.2) 11,456.0 Total liabilities and stockholders' equity $ 15,104.8 $ 15,126.8 $ 242,876.5 $ (30,072.0) $ 243,036.1 (1) Condensed Consolidating Statements of Financial Position December 31, 2017 Principal Life Principal Principal Insurance Company Principal Financial Financial and Other Financial Group, Inc. Services, Inc. Subsidiaries Group, Inc. Parent Only Only Combined (1) Eliminations Consolidated (in millions) Assets Fixed maturities, available-for-sale $ — $ — $ 59,388.4 $ — $ 59,388.4 Fixed maturities, trading 351.8 — 214.2 — 566.0 Equity securities — 5.7 1,860.9 — 1,866.6 Mortgage loans — — 14,150.5 — 14,150.5 Real estate — — 1,736.7 — 1,736.7 Policy loans — — 808.3 — 808.3 Investment in unconsolidated entities 15,063.2 15,449.7 706.7 (30,399.0) 820.6 Other investments 10.2 131.3 2,624.1 — 2,765.6 Cash and cash equivalents 842.8 617.4 2,001.1 (990.5) 2,470.8 Accrued investment income 1.1 0.2 609.3 — 610.6 Premiums due and other receivables — 2.0 1,880.3 (412.5) 1,469.8 Deferred acquisition costs — — 3,540.7 — 3,540.7 Property and equipment — — 759.5 — 759.5 Goodwill — — 1,068.8 — 1,068.8 Other intangibles — — 1,314.7 — 1,314.7 Separate account assets — — 159,272.7 — 159,272.7 Other assets 389.7 94.8 1,619.4 (773.0) 1,330.9 Total assets $ 16,658.8 $ 16,301.1 $ 253,556.3 $ (32,575.0) $ 253,941.2 Liabilities Contractholder funds $ — $ — $ 38,082.5 $ — $ 38,082.5 Future policy benefits and claims — — 33,019.3 — 33,019.3 Other policyholder funds — — 922.3 — 922.3 Short-term debt — — 39.5 — 39.5 Long-term debt 3,128.1 412.7 50.3 (412.7) 3,178.4 Income taxes currently payable — 37.3 105.9 (126.5) 16.7 Deferred income taxes — 12.4 1,705.1 (625.0) 1,092.5 Separate account liabilities — — 159,272.7 — 159,272.7 Other liabilities 681.4 894.1 4,760.7 (1,042.1) 5,294.1 Total liabilities 3,809.5 1,356.5 237,958.3 (2,206.3) 240,918.0 Redeemable noncontrolling interest — — 101.3 — 101.3 Stockholders' equity Common stock 4.7 — 11.0 (11.0) 4.7 Additional paid-in capital 9,925.2 9,053.5 11,336.0 (20,389.5) 9,925.2 Retained earnings 9,482.9 5,311.7 3,394.1 (8,705.8) 9,482.9 Accumulated other comprehensive income 165.5 579.4 685.0 (1,264.4) 165.5 Treasury stock, at cost (6,729.0) — (2.0) 2.0 (6,729.0) Total stockholders' equity attributable to PFG 12,849.3 14,944.6 15,424.1 (30,368.7) 12,849.3 Noncontrolling interest — — 72.6 — 72.6 Total stockholders' equity 12,849.3 14,944.6 15,496.7 (30,368.7) 12,921.9 Total liabilities and stockholders' equity $ 16,658.8 $ 16,301.1 $ 253,556.3 $ (32,575.0) $ 253,941.2 (1) PFG sponsors nonqualified benefit plans. Nonqualified benefit plan assets and liabilities held in Rabbi trusts were $643.3 million and $524.7 million, respectively. Condensed Consolidating Statements of Operations For the year ended December 31, 2018 Principal Life Principal Principal Insurance Principal Financial Financial Company and Financial Group, Inc. Services, Inc. Other Subsidiaries Group, Inc. Parent Only Only Combined Eliminations Consolidated (in millions) Revenues Premiums and other considerations $ — $ — $ 6,409.6 $ — $ 6,409.6 Fees and other revenues — 2.7 4,286.4 (15.3) 4,273.8 Net investment income (loss) 25.8 (6.7) 3,598.0 12.1 3,629.2 Net realized capital losses excluding impairment losses on available-for-sale securities (8.2) (3.5) (34.6) — (46.3) Net other-than-temporary impairment losses on available-for-sale securities — — 10.6 — 10.6 Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified from other comprehensive income — — (39.7) — (39.7) Net impairment losses on available-for-sale securities — — (29.1) — (29.1) Net realized capital losses (8.2) (3.5) (63.7) — (75.4) Total revenues 17.6 (7.5) 14,230.3 (3.2) 14,237.2 Expenses Benefits, claims and settlement expenses — — 8,192.5 — 8,192.5 Dividends to policyholders — — 123.6 — 123.6 Operating expenses 191.9 29.1 3,929.5 (13.8) 4,136.7 Total expenses 191.9 29.1 12,245.6 (13.8) 12,452.8 Income (loss) before income taxes (174.3) (36.6) 1,984.7 10.6 1,784.4 Income taxes (benefits) (62.5) 0.2 293.0 — 230.7 Equity in the net income of subsidiaries 1,658.3 1,684.5 — (3,342.8) — Net income 1,546.5 1,647.7 1,691.7 (3,332.2) 1,553.7 Net income attributable to noncontrolling interest — — 7.2 — 7.2 Net income attributable to PFG $ 1,546.5 $ 1,647.7 $ 1,684.5 $ (3,332.2) $ 1,546.5 Net income $ 1,546.5 $ 1,647.7 $ 1,691.7 $ (3,332.2) $ 1,553.7 Other comprehensive loss (1,824.5) (1,839.1) (1,856.4) 3,684.3 (1,835.7) Comprehensive loss $ (278.0) $ (191.4) $ (164.7) $ 352.1 $ (282.0) Condensed Consolidating Statements of Operations For the year ended December 31, 2017 Principal Life Principal Principal Insurance Principal Financial Financial Company and Financial Group, Inc. Services, Inc. Other Subsidiaries Group, Inc. Parent Only Only Combined Eliminations Consolidated (in millions) Revenues Premiums and other considerations $ — $ — $ 6,217.4 $ — $ 6,217.4 Fees and other revenues 7.8 0.2 3,894.7 (10.4) 3,892.3 Net investment income (loss) 9.7 (2.8) 3,396.5 55.9 3,459.3 Net realized capital gains (losses), excluding impairment losses on available-for-sale securities (0.6) 4.2 602.4 — 606.0 Net other-than-temporary impairment losses on available-for-sale securities — — (28.7) — (28.7) Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified from other comprehensive income — — (53.1) — (53.1) Net impairment losses on available-for-sale securities — — (81.8) — (81.8) Net realized capital gains (losses) (0.6) 4.2 520.6 — 524.2 Total revenues 16.9 1.6 14,029.2 45.5 14,093.2 Expenses Benefits, claims and settlement expenses — — 7,822.6 — 7,822.6 Dividends to policyholders — — 124.6 — 124.6 Operating expenses 238.1 48.4 3,616.9 (9.6) 3,893.8 Total expenses 238.1 48.4 11,564.1 (9.6) 11,841.0 Income (loss) before income taxes (221.2) (46.8) 2,465.1 55.1 2,252.2 Income taxes (benefits) 63.1 115.4 (280.9) 30.1 (72.3) Equity in the net income of subsidiaries 2,594.7 2,731.9 — (5,326.6) — Net income 2,310.4 2,569.7 2,746.0 (5,301.6) 2,324.5 Net income attributable to noncontrolling interest — — 14.1 — 14.1 Net income attributable to PFG $ 2,310.4 $ 2,569.7 $ 2,731.9 $ (5,301.6) $ 2,310.4 Net income $ 2,310.4 $ 2,569.7 $ 2,746.0 $ (5,301.6) $ 2,324.5 Other comprehensive income 840.3 809.8 801.8 (1,607.6) 844.3 Comprehensive income $ 3,150.7 $ 3,379.5 $ 3,547.8 $ (6,909.2) $ 3,168.8 Condensed Consolidating Statements of Operations For the year ended December 31, 2016 Principal Life Principal Principal Insurance Principal Financial Financial Company and Financia

Schedule I - Summary of Investm

Schedule I - Summary of Investments - Other Than Investments in Related Parties	12 Months Ended
	Dec. 31, 2018
Schedule I - Summary of Investments - Other Than Investments in Related Parties
Schedule I - Summary of Investments - Other Than Investments in Related Parties	Schedule I - Summary of Investments - Other Than Investments in Related Parties December 31, 2018 Amount as shown in the consolidated statement of Fair financial Type of Investment Cost value position (in millions) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 1,441.6 $ 1,441.0 $ 1,441.0 States, municipalities and political subdivisions 6,125.0 6,225.7 6,225.7 Foreign governments 833.4 890.5 890.5 Public utilities 4,545.0 3,848.1 3,848.1 Redeemable preferred stock 33.8 34.7 34.7 All other corporate bonds 30,555.8 31,656.5 31,656.5 Residential mortgage-backed securities 2,488.5 2,460.6 2,460.6 Commercial mortgage-backed securities 4,023.1 3,945.6 3,945.6 Collateralized debt obligations 2,451.3 2,420.8 2,420.8 Other debt obligations 7,228.3 7,185.0 7,185.0 Total fixed maturities, available-for-sale 59,725.8 60,108.5 60,108.5 Fixed maturities, trading 636.1 636.1 636.1 Equity securities: Banks, trust and insurance companies 520.1 520.1 520.1 Industrial, miscellaneous and all other 713.6 713.6 713.6 Other corporate 463.0 463.0 463.0 Non-redeemable preferred stock 147.0 147.0 147.0 Total equity securities 1,843.7 1,843.7 1,843.7 Mortgage loans 15,336.9 XXXX 15,336.9 Real estate, net: Real estate acquired in satisfaction of debt 5.8 XXXX 5.8 Other real estate 1,723.9 XXXX 1,723.9 Policy loans 801.4 XXXX 801.4 Other investments 4,310.3 XXXX 4,310.3 Total investments $ 84,383.9 XXXX $ 84,766.6

Schedule II - Condensed Financi

Schedule II - Condensed Financial Information of Registrant (Parent Only)	12 Months Ended
	Dec. 31, 2018
Schedule II - Condensed Financial Information of Registrant (Parent Only)
Schedule II - Condensed Financial Information of Registrant (Parent Only)	Schedule II - Condensed Financial Information of Registrant (Parent Only) Statements of Financial Position December 31, 2018 2017 (in millions) Assets Fixed maturities, available-for-sale $ 211.5 — Fixed maturities, trading 308.9 351.8 Cash and cash equivalents 334.9 842.8 Other investments 10.7 10.2 Income taxes receivable 16.9 44.2 Deferred income taxes 331.0 329.4 Amounts receivable from subsidiaries 5.2 4.4 Other assets 23.3 12.8 Investment in unconsolidated entities 13,862.4 15,063.2 Total assets $ 15,104.8 $ 16,658.8 Liabilities Long-term debt $ 3,129.8 $ 3,128.1 Accrued investment payable 23.1 23.1 Pension liability 557.9 658.3 Other liabilities 4.0 — Total liabilities 3,714.8 3,809.5 Stockholders' equity Common stock, par value $.01 per share - 2,500 million shares authorized, 476.7 million and 474.1 million shares issued, and 279.5 million and 289.0 million shares outstanding in 2018 and 2017 4.8 4.7 Additional paid-in capital 10,060.7 9,925.2 Retained earnings 10,290.2 9,482.9 Accumulated other comprehensive income (loss) (1,565.1) 165.5 Treasury stock, at cost (197.2 million and 185.1 million shares in 2018 and 2017) (7,400.6) (6,729.0) Total stockholders' equity attributable to Principal Financial Group, Inc. 11,390.0 12,849.3 Total liabilities and stockholders' equity $ 15,104.8 $ 16,658.8 See accompanying notes. Statements of Operations For the year ended December 31, 2018 2017 2016 (in millions) Revenues Fees and other revenues $ — $ 7.8 $ — Net investment income 25.8 9.7 3.4 Net realized capital losses (8.2) (0.6) — Total revenues 17.6 16.9 3.4 Expenses Other operating costs and expenses 191.9 238.1 312.3 Total expenses 191.9 238.1 312.3 Loss before income taxes (174.3) (221.2) (308.9) Income taxes (benefits) (62.5) 63.1 (134.9) Equity in the net income of subsidiaries 1,658.3 2,594.7 1,490.5 Net income attributable to Principal Financial Group, Inc. $ 1,546.5 $ 2,310.4 $ 1,316.5 See accompanying notes. Statements of Cash Flows For the year ended December 31, 2018 2017 2016 (in millions) Operating activities Net income $ 1,546.5 $ 2,310.4 $ 1,316.5 Adjustments to reconcile net income to net cash used in operating activities: Net realized capital losses 8.2 0.6 - Stock-based compensation 2.9 3.0 3.6 Equity in the net income of subsidiaries (1,658.3) (2,594.7) (1,490.5) Changes in: Net cash flows for trading securities and equity securities with operating intent 32.4 (352.6) - Current and deferred income taxes (benefits) 15.7 163.8 (60.3) Other (79.8) 26.3 42.1 Net cash used in operating activities (132.4) (443.2) (188.6) Investing activities Fixed maturities available-for-sale and equity securities with intent to hold: Purchases (210.9) - - Maturities 2.3 - - Net purchases of property and equipment (0.1) (0.1) (0.1) Net change in other investments (2.2) (1.1) 1.3 Dividends and returns of capital received from unconsolidated entities 1,041.6 1,002.5 1,295.3 Net cash provided by investing activities 830.7 1,001.3 1,296.5 Financing activities Issuance of common stock 64.0 162.5 37.8 Acquisition of treasury stock (671.6) (220.4) (277.3) Excess tax benefits from share-based payment arrangements - - 0.7 Dividends to common stockholders (598.6) (540.0) (464.9) Principal repayments of long-term debt - - (744.5) Issuance of long-term debt - - 644.2 Net cash used in financing activities (1,206.2) (597.9) (804.0) Net increase (decrease) in cash and cash equivalents (507.9) (39.8) 303.9 Cash and cash equivalents at beginning of year 842.8 882.6 578.7 Cash and cash equivalents at end of year $ 334.9 $ 842.8 $ 882.6 See accompanying notes. (1) Basis of Presentation The accompanying condensed financial information should be read in conjunction with the consolidated financial statements and notes thereto of Principal Financial Group, Inc. In the parent company only financial statements, our investment in unconsolidated entities is stated at cost plus equity in undistributed earnings of subsidiaries. Principal Financial Group, Inc. sponsors nonqualified benefit plans for select employees and agents and is responsible for the obligations of these plans. Nonqualified plan assets are held in Rabbi trusts for the benefit of all nonqualified plan participants. The invested assets and benefit plan liabilities reported in the statements of financial position exclude amounts held in these trusts. The Rabbi trusts had $671.7 million and $643.3 million of plan assets and $542.4 million and $524.7 million of benefit plan liabilities as of December 31, 2018 and 2017, respectively. During November 2016, the parent company became the sponsor of the defined contribution plans and deferred compensation plans discussed in Item 8. “Financial Statements and Supplementary Data, Notes to Consolidated Financial Statements, Note 11, Employee and Agent Benefits.” Prior to November 2016, Principal Life Insurance Company, an indirect wholly owned subsidiary of the parent company, was the sponsor of these plans. (2) Dividends and Returns of Capital Received from (Contributions to) Unconsolidated Entities The parent company received cash dividends and returns of capital totaling $1,041.6 million, $1,002.5 million and $1,295.3 million from subsidiaries in 2018, 2017 and 2016, respectively. (3) Supplemental Disclosures of Non-Cash Investing Activity The parent company’s assumption of the deferred income tax asset and net plan assets associated with the defined contribution plans and deferred compensation plans previously sponsored by Principal Life Insurance Company resulted in a non-cash increase in the parent company’s investment in subsidiary of $74.6 million in 2016.

Schedule III - Supplementary In

Schedule III - Supplementary Insurance Information	12 Months Ended
	Dec. 31, 2018
Schedule III - Supplementary Insurance Information
Schedule III - Supplementary Insurance Information	Schedule III - Supplementary Insurance Information As of December 31, 2018 and 2017 and for each of the years ended December 31, 2018, 2017 and 2016 Contractholder Deferred Future policy and other acquisition benefits and policyholder Segment costs claims funds (in millions) 2018: Retirement and Income Solutions $ 988.3 $ 21,217.9 $ 32,295.1 Principal Global Investors — — — Principal International 13.1 4,317.6 1,183.1 U.S. Insurance Solutions 2,692.1 9,950.3 7,458.4 Corporate — 179.0 (348.5) Total $ 3,693.5 $ 35,664.8 $ 40,588.1 2017: Retirement and Income Solutions $ 887.5 $ 18,437.2 $ 30,767.9 Principal Global Investors - - - Principal International 209.0 4,703.6 1,252.4 U.S. Insurance Solutions 2,444.2 9,700.1 7,322.3 Corporate - 178.4 (337.8) Total $ 3,540.7 $ 33,019.3 $ 39,004.8 Schedule III - Supplementary Insurance Information - (continued) As of December 31, 2018 and 2017 and for each of the years ended December 31, 2018, 2017 and 2016 Amortization of Premiums and Net Benefits, claims deferred Other other investment and settlement acquisition operating Segment considerations income (1) expenses costs expenses (1) (in millions) 2018: Retirement and Income Solutions $ 3,635.9 $ 2,204.1 $ 5,099.0 $ 124.5 $ 1,191.2 Principal Global Investors — 4.2 — — 1,176.9 Principal International 317.2 494.9 646.6 1.3 467.9 U.S. Insurance Solutions 2,456.5 806.2 2,444.6 127.7 939.9 Corporate — 119.8 2.3 — 107.3 Total $ 6,409.6 $ 3,629.2 $ 8,192.5 $ 253.5 $ 3,883.2 2017: Retirement and Income Solutions $ 3,671.1 $ 2,069.2 $ 4,972.6 $ 35.8 $ 1,158.1 Principal Global Investors - 13.4 - - 974.7 Principal International 218.0 510.6 507.1 22.4 404.3 U.S. Insurance Solutions 2,328.3 775.0 2,345.3 176.4 867.7 Corporate - 91.1 (2.4) - 254.4 Total $ 6,217.4 $ 3,459.3 $ 7,822.6 $ 234.6 $ 3,659.2 2016: Retirement and Income Solutions $ 2,860.9 $ 1,931.2 $ 4,108.3 $ 161.4 $ 1,114.3 Principal Global Investors - 12.6 - - 935.8 Principal International 274.6 491.4 584.6 22.5 365.5 U.S. Insurance Solutions 2,163.6 751.2 2,221.4 101.2 796.4 Corporate - 110.1 (1.1) - 235.5 Total $ 5,299.1 $ 3,296.5 $ 6,913.2 $ 285.1 $ 3,447.5 (1) Allocations of net investment income and certain operating expenses are based on a number of assumptions and estimates. Reported operating results would change by segment if different methods were applied.

Schedule IV - Reinsurance

Schedule IV - Reinsurance	12 Months Ended
	Dec. 31, 2018
Schedule IV - Reinsurance
Schedule IV - Reinsurance	Schedule IV - Reinsurance As of December 31, 2018, 2017 and 2016 and for each of the years then ended Percentage Ceded to Assumed of amount Gross other from other assumed amount companies companies Net amount to net ($ in millions) 2018: Life insurance in force $ 530,828.6 $ 324,691.3 $ 1,028.6 $ 207,165.9 0.5 % Premiums: Life insurance and annuities $ 5,055.8 $ 359.9 $ 1.7 $ 4,697.6 — % Accident and health insurance 1,872.5 160.5 - 1,712.0 — % Total $ 6,928.3 $ 520.4 $ 1.7 $ 6,409.6 — % 2017: Life insurance in force $ 486,887.5 $ 287,538.8 $ 1,059.5 $ 200,408.2 0.5 % Premiums: Life insurance and annuities $ 4,945.7 $ 320.7 $ 1.9 $ 4,626.9 — % Accident and health insurance 1,753.6 163.1 — 1,590.5 — % Total $ 6,699.3 $ 483.8 $ 1.9 $ 6,217.4 — % 2016: Life insurance in force $ 437,977.4 $ 242,777.7 $ 1,087.8 $ 196,287.5 0.6 % Premiums: Life insurance and annuities $ 4,137.1 $ 285.2 $ 1.7 $ 3,853.6 — % Accident and health insurance 1,616.7 171.2 — 1,445.5 — % Total $ 5,753.8 $ 456.4 $ 1.7 $ 5,299.1 — %

Nature of Operations and Sign_2

Nature of Operations and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Nature of Operations and Significant Accounting Policies
Cash and Cash Equivalents - Policy	Cash and Cash Equivalents Cash and cash equivalents include cash on hand, money market instruments and other debt issues with a maturity date of three months or less when purchased.
Investments - Policy	Investments Fixed maturities include bonds, asset-backed securities (“ABS”), redeemable preferred stock and certain non-redeemable preferred securities. Equity securities include mutual funds, common stock, non-redeemable preferred stock and required regulatory investments. We classify fixed maturities as either available-for-sale or trading at the time of the purchase and, accordingly, carry them at fair value. Equity securities are also carried at fair value. See Note 14, Fair Value Measurements, for methodologies related to the determination of fair value. Unrealized gains and losses related to fixed maturities, available-for-sale, excluding those in fair value hedging relationships, are reflected in stockholders' equity, net of adjustments associated with DAC and related actuarial balances, derivatives in cash flow hedge relationships and applicable income taxes. Mark-to-market adjustments on equity securities, unrealized gains and losses related to hedged portions of fixed maturities, available-for-sale in fair value hedging relationships and mark-to-market adjustments on certain fixed maturities, trading are reflected in net realized capital gains (losses). Mark-to-market adjustments related to certain securities carried at fair value with an investment objective to realize economic value through mark-to-market changes are reflected in net investment income. The cost of fixed maturities is adjusted for amortization of premiums and accrual of discounts, both computed using the interest method. The cost of fixed maturities classified as available-for-sale is adjusted for declines in value that are other than temporary. Impairments in value deemed to be other than temporary are primarily reported in net income as a component of net realized capital gains (losses), with noncredit impairment losses for certain fixed maturities, available-for-sale reported in OCI. Interest income, as well as prepayment fees and the amortization of the related premium or discount, is reported in net investment income. For loan-backed and structured securities, we recognize income using a constant effective yield based on currently anticipated cash flows. Real estate investments are reported at cost less accumulated depreciation. The initial cost bases of properties acquired through loan foreclosures are the lower of the fair market values of the properties at the time of foreclosure or the outstanding loan balance. Buildings and land improvements are generally depreciated on the straight-line method over the estimated useful life of improvements and tenant improvement costs are depreciated on the straight-line method over the term of the related lease. We recognize impairment losses for properties when indicators of impairment are present and a property's expected undiscounted cash flows are not sufficient to recover the property's carrying value. In such cases, the cost basis of the property is reduced to fair value. Real estate expected to be disposed is carried at the lower of cost or fair value, less cost to sell, with valuation allowances established accordingly and depreciation no longer recognized. The carrying amount of real estate held for sale was $209.6 million and $212.9 million as of December 31, 2018 and 2017, respectively. Any impairment losses and any changes in valuation allowances are reported in net income. Commercial and residential mortgage loans are generally reported at cost adjusted for amortization of premiums and accrual of discounts, computed using the interest method and net of valuation allowances. Interest income is accrued on the principal amount of the loan based on the loan’s contractual interest rate. Interest income, as well as prepayment of fees and the amortization of the related premium or discount, is reported in net investment income. Any changes in the valuation allowances are reported in net realized capital gains (losses). We measure impairment based upon the difference between carrying value and estimated value less cost to sell. Estimated value is based on either the present value of expected cash flows discounted at the loan's effective interest rate, the loan's observable market price or the fair value of the collateral. If foreclosure is probable, the measurement of any valuation allowance is based upon the fair value of the collateral. Net realized capital gains and losses on sales of investments are determined on the basis of specific identification. In general, in addition to realized capital gains and losses on investment sales and periodic settlements on derivatives not designated as hedges, we report gains and losses related to the following in net realized capital gains (losses): other-than-temporary impairments of securities and subsequent realized recoveries, mark-to-market adjustments on equity securities, mark-to-market adjustments on certain fixed maturities, trading, mark-to-market adjustments on sponsored investment funds, fair value hedge and cash flow hedge ineffectiveness, mark-to-market adjustments on derivatives not designated as hedges, changes in the mortgage loan valuation allowance provision, impairments of real estate held for investment and impairments of equity method investments. Investment gains and losses on sales of certain real estate held for sale due to investment strategy and mark-to-market adjustments on certain securities carried at fair value with an investment objective to realize economic value through mark-to-market changes are reported as net investment income and are excluded from net realized capital gains (losses). Policy loans and certain other investments are reported at cost. Interests in unconsolidated entities, joint ventures and partnerships are generally accounted for using the equity method. We have other investments reported at fair value or for which the fair value option has been elected in prior periods. See Note 14, Fair Value Measurements, for detail on these investments.
Derivatives - Policy	Derivatives Overview Derivatives are financial instruments whose values are derived from interest rates, foreign exchange rates, financial indices or the values of securities. Derivatives generally used by us include swaps, options, futures and forwards. Derivative positions are either assets or liabilities in the consolidated statements of financial position and are measured at fair value, generally by obtaining quoted market prices or through the use of pricing models. See Note 14, Fair Value Measurements, for policies related to the determination of fair value. Fair values can be affected by changes in interest rates, foreign exchange rates, financial indices, values of securities, credit spreads, and market volatility and liquidity. Accounting and Financial Statement Presentation We designate derivatives as either: (a) a hedge of the exposure to changes in the fair value of a recognized asset or liability or an unrecognized firm commitment, including those denominated in a foreign currency (“fair value hedge”); (b) a hedge of a forecasted transaction or the exposure to variability of cash flows to be received or paid related to a recognized asset or liability, including those denominated in a foreign currency (“cash flow hedge”); (c) a hedge of a net investment in a foreign operation or (d) a derivative not designated as a hedging instrument. Our accounting for the ongoing changes in fair value of a derivative depends on the intended use of the derivative and the designation, as described above, and is determined when the derivative contract is entered into or at the time of redesignation. Hedge accounting is used for derivatives that are specifically designated in advance as hedges and that reduce our exposure to an indicated risk by having a high correlation between changes in the value of the derivatives and the items being hedged at both the inception of the hedge and throughout the hedge period. Fair Value Hedges. When a derivative is designated as a fair value hedge and is determined to be highly effective, changes in its fair value, along with changes in the fair value of the hedged asset, liability or firm commitment attributable to the hedged risk, are reported in net realized capital gains (losses). Any difference between the net change in fair value of the derivative and the hedged item represents hedge ineffectiveness. Cash Flow Hedges. When a derivative is designated as a cash flow hedge and is determined to be highly effective, changes in its fair value are recorded as a component of OCI. Any hedge ineffectiveness is recorded immediately in net income. At the time the variability of cash flows being hedged impacts net income, the related portion of deferred gains or losses on the derivative instrument is reclassified and reported in net income. Net Investment in a Foreign Operation Hedge. When a derivative is used as a hedge of a net investment in a foreign operation, its change in fair value, to the extent effective as a hedge, is recorded as a component of OCI. Any hedge ineffectiveness is recorded immediately in net income. If the foreign operation is sold or upon complete or substantially complete liquidation, the deferred gains or losses on the derivative instrument are reclassified into net income. Non-Hedge Derivatives. If a derivative does not qualify or is not designated for hedge accounting, all changes in fair value are reported in net income without considering the changes in the fair value of the economically associated assets or liabilities. Hedge Documentation and Effectiveness Testing. At inception, we formally document all relationships between hedging instruments and hedged items, as well as our risk management objective and strategy for undertaking various hedge transactions. This process includes associating all derivatives designated as fair value or cash flow hedges with specific assets or liabilities on the consolidated statements of financial position or with specific firm commitments or forecasted transactions. Effectiveness of the hedge is formally assessed at inception and throughout the life of the hedging relationship. Even if a derivative is highly effective and qualifies for hedge accounting treatment, the hedge might have some ineffectiveness. We use qualitative and quantitative methods to assess hedge effectiveness. Qualitative methods may include monitoring changes to terms and conditions and counterparty credit ratings. Quantitative methods may include statistical tests including regression analysis and minimum variance and dollar offset techniques. Termination of Hedge Accounting. We prospectively discontinue hedge accounting when (1) the criteria to qualify for hedge accounting is no longer met, e.g., a derivative is determined to no longer be highly effective in offsetting the change in fair value or cash flows of a hedged item; (2) the derivative expires, is sold, terminated or exercised or (3) we remove the designation of the derivative being the hedging instrument for a fair value or cash flow hedge. If it is determined that a derivative no longer qualifies as an effective hedge, the derivative will continue to be carried on the consolidated statements of financial position at its fair value, with changes in fair value recognized prospectively in net realized capital gains (losses). The asset or liability under a fair value hedge will no longer be adjusted for changes in fair value pursuant to hedging rules and the existing basis adjustment is amortized to the consolidated statements of operations line associated with the asset or liability. The component of AOCI related to discontinued cash flow hedges that are no longer highly effective is amortized to the consolidated statements of operations consistent with the net income impacts of the original hedged cash flows. If a cash flow hedge is discontinued because it is probable the hedged forecasted transaction will not occur, the deferred gain or loss is immediately reclassified from AOCI into net income. Embedded Derivatives. We purchase and issue certain financial instruments and products that contain a derivative that is embedded in the financial instrument or product. We assess whether this embedded derivative is clearly and closely related to the asset or liability that serves as its host contract. If we deem that the embedded derivative's terms are not clearly and closely related to the host contract, and a separate instrument with the same terms would qualify as a derivative instrument, the derivative is bifurcated from that contract and held at fair value on the consolidated statements of financial position, with changes in fair value reported in net income.
Contractholder and Policyholder Liabilities - Policy	Contractholder and Policyholder Liabilities Contractholder and policyholder liabilities (contractholder funds, future policy benefits and claims and other policyholder funds) include reserves for investment contracts, individual and group annuities that provide periodic income payments, universal life insurance, variable universal life insurance, indexed universal life insurance, term life insurance, participating traditional individual life insurance, group dental and vision insurance, group short-term and long-term disability insurance, group life insurance, individual disability insurance and long-term care insurance. It also includes a provision for dividends on participating policies. Investment contracts are contractholders' funds on deposit with us and generally include reserves for pension and annuity contracts. Reserves on investment contracts are equal to the cumulative deposits less any applicable charges and withdrawals plus credited interest. Reserves for universal life, variable universal life and indexed universal life insurance contracts are equal to cumulative deposits less charges plus credited interest, which represents the account balances that accrue to the benefit of the policyholders. We hold additional reserves on certain long-duration contracts where benefit features result in gains in early years followed by losses in later years; universal life, variable universal life and indexed universal life insurance contracts that contain no lapse guarantee features; and annuities with guaranteed minimum death benefits. Reserves for individual and group annuities that provide periodic income payments, nonparticipating term life insurance and disability income contracts are computed on a basis of assumed investment yield, mortality, morbidity and expenses, including a provision for adverse deviation, which generally varies by plan, year of issue and policy duration. Investment yield is based on our experience. Mortality, morbidity and withdrawal rate assumptions are based on our experience and are periodically reviewed against both industry standards and experience. Reserves for participating life insurance contracts are based on the net level premium reserve for death and endowment policy benefits. This net level premium reserve is calculated based on dividend fund interest rates and mortality rates guaranteed in calculating the cash surrender values described in the contract. Participating business represented approximately 7%, 7% and 8% of our life insurance in force and 26%, 29% and 33% of the number of life insurance policies in force as of December 31, 2018, 2017 and 2016, respectively. Participating business represented approximately 24%, 30% and 31% of life insurance premiums for the years ended December 31, 2018, 2017 and 2016, respectively. The amount of dividends to policyholders is declared annually by Principal Life's Board of Directors. The amount of dividends to be paid to policyholders is determined after consideration of several factors including interest, mortality, morbidity and other expense experience for the year and judgment as to the appropriate level of statutory surplus to be retained by Principal Life. At the end of the reporting period, Principal Life establishes a dividend liability for the pro rata portion of the dividends expected to be paid on or before the next policy anniversary date. Some of our policies and contracts require payment of fees or other policyholder assessments in advance for services that will be rendered over the estimated lives of the policies and contracts. These payments are established as unearned revenue liabilities upon receipt and included in other policyholder funds in the consolidated statements of financial position. These unearned revenue reserves are amortized to net income over the estimated lives of these policies and contracts in relation to the emergence of estimated gross profits (“EGPs”). Short-Duration Contracts We include the following group products in our short-duration insurance contracts disclosures: long-term disability (“LTD”), group life waiver, dental, vision, short-term disability (“STD”), critical illness, accident and group life. Future policy benefits and claims include reserves for group life and disability insurance that provide periodic income payments. These reserves are computed using assumptions of mortality, morbidity and investment performance. These assumptions are based on our experience, industry results, emerging trends and future expectations. Future policy benefits and claims also include reserves for incurred but unreported group disability, dental, vision, critical illness, accident and life insurance claims. We recognize claims costs in the period the service was provided to our policyholders. However, claims costs incurred in a particular period are not known with certainty until after we receive, process and pay the claims. We determine the amount of this liability using actuarial methods based on historical claim payment patterns as well as emerging cost trends, where applicable, to determine our estimate of claim liabilities. We have defined claim frequency as follows for each short-duration product: · LTD: Claim frequency is based on submitted reserve claim counts. · Group Life Waiver: Claim frequency is based on submitted reserve claim counts, consistent with LTD. · Dental and Vision: Claim frequency is based on the claim form, which may include one or more procedures. · STD, Critical Illness and Accident: Claim frequency is based on submitted claims. · Group Life: Claim frequency is based on submitted life claims (lives, not coverages). We did not make any significant changes to our methodologies or assumptions used to calculate the liability for unpaid claims for short-duration contracts during 2018. Liability for Unpaid Claims The liability for unpaid claims for both long-duration and short-duration contracts is an estimate of the ultimate net cost of reported and unreported losses not yet settled. This liability is estimated using actuarial analyses and case basis evaluations. Although considerable variability is inherent in such estimates, we believe the liability for unpaid claims is adequate. These estimates are continually reviewed and, as adjustments to this liability become necessary, such adjustments are reflected in net income. Our liability for unpaid claims does not include any allocated claim adjustment expenses. We incur claim adjustment expenses for both long-duration and short-duration contracts that cannot be allocated to a specific claim. Our claim adjustment expense liability is estimated using actuarial analyses based on historical trends of expenses and expected claim runout patterns. See Note 8, Insurance Liabilities, under the caption “Liability for Unpaid Claims” for further details.
Recognition of Premiums and Other Considerations, Fees and Other Revenues and Benefits - Policy	Recognition of Premiums and Other Considerations, Fees and Other Revenues and Benefits Products with fixed and guaranteed premiums and benefits consist principally of whole life and term life insurance policies and individual disability income. Premiums from these products are recognized as premium revenue when due. Related policy benefits and expenses for individual life products are associated with earned premiums and result in the recognition of profits over the expected term of the policies and contracts. Immediate annuities with life contingencies include products with fixed and guaranteed annuity considerations and benefits and consist principally of group and individual single premium annuities with life contingencies. Annuity considerations from these products are recognized as premium revenue. However, the collection of these annuity considerations does not represent the completion of the earnings process, as we establish annuity reserves using estimates for mortality and investment assumptions, which include provision for adverse deviation as required by U.S. GAAP. We anticipate profits to emerge over the life of the annuity products as we earn investment income, pay benefits and release reserves. Group life, dental, vision and disability premiums are generally recorded as premium revenue over the term of the coverage. Certain group contracts contain experience premium refund provisions based on a pre-defined formula that reflects their claim experience. Experience premium refunds reduce revenue over the term of the coverage and are adjusted to reflect current experience. Related policy benefits and expenses are associated with earned premiums and result in the recognition of profits over the term of the policies and contracts. Fees for contracts providing claim processing or other administrative services are recorded as revenue over the period the service is provided. Universal life-type policies are insurance contracts with terms that are not fixed. Amounts received as payments for such contracts are not reported as premium revenues. Revenues for universal life-type insurance contracts consist of policy charges for the cost of insurance, policy initiation and administration, surrender charges and other fees that have been assessed against policy account values and investment income. Policy benefits and claims that are charged to expense include interest credited to contracts and benefit claims incurred in the period in excess of related policy account balances. Investment contracts do not subject us to significant risks arising from policyholder mortality or morbidity and consist primarily of guaranteed investment contracts (“GICs”), funding agreements and certain deferred annuities. Amounts received as payments for investment contracts are established as investment contract liability balances and are not reported as premium revenues. Revenues for investment contracts consist of investment income and policy administration charges. Investment contract benefits that are charged to expense include benefit claims incurred in the period in excess of related investment contract liability balances and interest credited to investment contract liability balances. Fees and other revenues are earned for asset management, investment advisory and distribution services provided to retail and institutional clients based largely upon contractual rates applied to the specified amounts in the clients’ portfolios, which include various platforms such as mutual funds, collective investment trusts and business trusts. Additionally, fees and other revenues are earned for administrative services performed including recordkeeping and reporting services for retirement savings plans and other products. Fees and other revenues received for performance of asset management and administrative services are recognized as revenue when earned, typically when the service is performed. Fees for managing customers’ mandatory retirement savings accounts in Chile are collected with each monthly deposit made by our customers. If a customer stops contributing before retirement age, we collect no fees but services are still provided. We recognize revenue from these long-term service contracts as services are performed over the life of the contract.
Deferred Acquisition Costs - Policy	Deferred Acquisition Costs Incremental direct costs of contract acquisition as well as certain costs directly related to acquisition activities (underwriting, policy issuance and processing, medical and inspection and sales force contract selling) for the successful acquisition of new and renewal insurance policies and investment contract business are capitalized to the extent recoverable. Commissions and other incremental direct costs for the acquisition of long-term service contracts are also capitalized to the extent recoverable. Maintenance costs and acquisition costs that are not deferrable are charged to net income as incurred. DAC for universal life-type insurance contracts and certain investment contracts are amortized over the expected lifetime of the contracts in relation to EGPs or, in certain circumstances, estimated gross revenues (“EGR”). This amortization is adjusted in the current period when EGPs or EGRs are revised. EGRs include similar assumptions as the revenue component of EGPs and the changes of future estimates and reflection of actual experience and market conditions is done in the same manner as EGPs. For individual variable universal life insurance, individual variable annuities and group annuities that have separate account U.S. equity investment options, we utilize a mean reversion methodology (reversion to the mean assumption), a common industry practice, to determine the future domestic equity market growth rate assumption used for the calculation of EGPs. DAC for participating life insurance policies are amortized in proportion to estimated gross margins (“EGM”) rather than EGPs. EGMs include similar assumption items as EGPs. We stopped selling participating business in the early 2000s. Some products allow for underwritten death benefit increases and cost of living adjustments, resulting in a small amount of new DAC each year, and the amortization schedules are modified as appropriate. DAC for non-participating term life insurance and individual disability policies are amortized over the premium-paying period of the related policies using assumptions consistent with those used in computing policyholder liabilities. Once these assumptions are made for a given policy or group of policies, they will not be changed over the life of the policy unless a loss recognition event occurs. DAC on insurance policies and investment contracts are subject to recoverability testing at the time of policy issue and loss recognition testing on an annual basis, or when an event occurs that may warrant loss recognition. If loss recognition or impairment is necessary, DAC would be written off to the extent it is determined that future policy premiums and investment income or gross profits are not adequate to cover related losses and expenses.
Deferred Acquisition Costs on Internal Replacements - Policy	Deferred Acquisition Costs on Internal Replacements All insurance and investment contract modifications and replacements are reviewed to determine if the internal replacement results in a substantially changed contract. If so, the acquisition costs, sales inducements and unearned revenue associated with the new contract are deferred and amortized over the lifetime of the new contract. In addition, the existing DAC, sales inducement costs and unearned revenue balances associated with the replaced contract are written off. If an internal replacement results in a substantially unchanged contract, the acquisition costs, sales inducements and unearned revenue associated with the new contract are immediately recognized in the period incurred. In addition, the existing DAC, sales inducement costs or unearned revenue balance associated with the replaced contract is not written off, but instead is carried over to the new contract.
Long-Term Debt - Policy	Long-Term Debt Long-term debt includes notes payable, nonrecourse mortgages and other debt with a maturity date greater than one year at the date of issuance. Current maturities of long-term debt are classified as long-term debt in our consolidated statements of financial position. Long-term debt is primarily recorded at the unpaid principal balance, net of unamortized discount, premium and issuance costs.
Reinsurance - Policy	Reinsurance We enter into reinsurance agreements with other companies in the normal course of business in order to limit losses and minimize exposure to significant risks. We may assume reinsurance from or cede reinsurance to other companies. Assets and liabilities related to reinsurance ceded are reported on a gross basis. Premiums and expenses are reported net of reinsurance ceded. The cost of reinsurance related to long-duration contracts is accounted for over the life of the underlying reinsured policies using assumptions consistent with those used to account for the underlying policies. We are contingently liable with respect to reinsurance ceded to other companies in the event the reinsurer is unable to meet the obligations it has assumed. As of December 31, 2018 and 2017, we had $450.6 million and $427.7 million of net ceded reinsurance recoverables related to claims that have been received, respectively. As of December 31, 2018 and 2017, $435.6 million, or 97%, and $417.4 million, or 98%, were with our five largest ceded reinsurers, respectively. Our total amount recoverable from reinsurers includes net ceded reinsurance recoverables related to claims that have been received and reserves ceded to reinsurers; however, it does not reflect potentially offsetting impacts of collateral. As of December 31, 2018 and 2017, the total amount recoverable from reinsurers was $920.8 million and $864.3 million, respectively, and is recognized in premiums due and other receivables. The effects of reinsurance on premiums and other considerations and policy and contract benefits were as follows: For the year ended December 31, 2018 2017 2016 (in millions) Premiums and other considerations: Direct $ 6,928.3 $ 6,699.3 $ 5,753.8 Assumed 1.7 1.9 1.7 Ceded (520.4) (483.8) (456.4) Net premiums and other considerations $ 6,409.6 $ 6,217.4 $ 5,299.1 Benefits, claims and settlement expenses: Direct $ 8,667.7 $ 8,216.3 $ 7,202.5 Assumed 24.9 27.7 28.1 Ceded (500.1) (421.4) (317.4) Net benefits, claims and settlement expenses $ 8,192.5 $ 7,822.6 $ 6,913.2
Separate Accounts - Policy	Separate Accounts The separate accounts are legally segregated and are not subject to the claims that arise out of any of our other business. The client, rather than us, directs the investments and bears the investment risk of these funds. The separate account assets represent the fair value of funds that are separately administered by us for contracts with equity, real estate and fixed income investments and are presented as a summary total within the consolidated statements of financial position. An equivalent amount is reported as separate account liabilities, which represent the obligation to return the monies to the client. We receive fees for mortality, withdrawal and expense risks, as well as administrative, maintenance and investment advisory services that are included in the consolidated statements of operations. Net deposits, net investment income and realized and unrealized capital gains and losses of the separate accounts are not reflected in the consolidated statements of operations. Separate account assets and separate account liabilities include certain international retirement accumulation products where the segregated funds and associated obligation to the client are consolidated within our financial statements. We have determined that summary totals are the most meaningful presentation for these funds. As of December 31, 2018 and December 31, 2017, the separate accounts included a separate account valued at $94.9 million and $170.5 million, respectively, which primarily included shares of our stock that were allocated and issued to eligible participants of qualified employee benefit plans administered by us as part of the policy credits issued under our 2001 demutualization. These shares are included in both basic and diluted earnings per share calculations. In the consolidated statements of financial position, the separate account shares are recorded at fair value and are reported as separate account assets with a corresponding separate account liability to eligible participants of the qualified plan. Changes in fair value of the separate account shares are reflected in both the separate account assets and separate account liabilities and do not impact our results of operations.
Income Taxes - Policy	Income Taxes We file a U.S. consolidated income tax return that includes all of our qualifying subsidiaries. In addition, we file income tax returns in all states and foreign jurisdictions in which we conduct business. Our policy of allocating income tax expenses and benefits to companies in the group is generally based upon pro rata contribution of taxable income or operating losses. We are taxed at corporate rates on taxable income based on existing tax laws. Current income taxes are charged or credited to net income based upon amounts estimated to be payable or recoverable as a result of taxable operations for the current year. Deferred income taxes are provided for the tax effect of temporary differences in the financial reporting and income tax bases of assets and liabilities, net operating loss carryforwards and tax credit carryforwards using enacted income tax rates and laws. The effect on deferred income tax assets and deferred income tax liabilities of a change in tax rates is recognized in net income in the period in which the change is enacted. Subsequent to a change in tax rates and laws, any stranded tax effects remaining in AOCI will be released only if an entire portfolio is liquidated, sold or extinguished. However, a specific exception to this rule was adopted effective January 1, 2018, to reclassify the stranded tax effects generated by U.S. tax reform from AOCI to retained earnings. Further details are included under the caption “Recent Accounting Pronouncements.”
Foreign Exchange - Policy	Foreign Exchange Assets and liabilities of our foreign subsidiaries and affiliates denominated in non-U.S. dollars, where the U.S. dollar is not the functional currency, are translated into U.S. dollar equivalents at the year-end spot foreign exchange rates. Resulting translation adjustments are reported as a component of stockholders' equity, along with any related hedge and tax effects. Revenues and expenses for these entities are translated at the average exchange rates. Revenue, expense and other foreign currency transaction and translation adjustments that affect cash flows are reported in net income, along with related hedge and tax effects.
Goodwill and Other Intangibles - Policy	Goodwill and Other Intangibles Goodwill and other intangible assets include the cost of acquired subsidiaries in excess of the fair value of the net tangible assets recorded in connection with acquisitions. Goodwill and indefinite‑lived intangible assets are not amortized. Rather, they are tested for impairment during the third quarter each year, or more frequently if events or changes in circumstances indicate that the asset might be impaired. Goodwill is tested at the reporting unit level, which is a business one level below the operating segment, if financial information is prepared and regularly reviewed by management at that level. Once goodwill has been assigned to a reporting unit, it is no longer associated with a particular acquisition; therefore, all of the activities within a reporting unit, whether acquired or organically grown, are available to support the goodwill value. Impairment testing for indefinite‑lived intangible assets consists of a comparison of the fair value of the intangible asset with its carrying value. Intangible assets with a finite useful life are amortized as related benefits emerge and are reviewed periodically for indicators of impairment in value. If facts and circumstances suggest possible impairment, the sum of the estimated undiscounted future cash flows expected to result from the use of the asset is compared to the current carrying value of the asset. If the undiscounted future cash flows are less than the carrying value, an impairment loss is recognized for the excess of the carrying amount of assets over their fair value.
Earnings Per Common Share - Policy	Earnings Per Common Share Basic earnings per common share is calculated by dividing net income available to common stockholders by the weighted‑average number of common shares outstanding for the period and excludes the dilutive effect of equity awards. Diluted earnings per common share reflects the potential dilution that could occur if dilutive securities, such as options and non-vested stock grants, were exercised or resulted in the issuance of common stock.

Nature of Operations and Sign_3

Nature of Operations and Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Adoption of Revenue Recognition Guidance
Effects of Reinsurance on Premiums and Other Considerations and Policy and Contract Benefits (Table)	For the year ended December 31, 2018 2017 2016 (in millions) Premiums and other considerations: Direct $ 6,928.3 $ 6,699.3 $ 5,753.8 Assumed 1.7 1.9 1.7 Ceded (520.4) (483.8) (456.4) Net premiums and other considerations $ 6,409.6 $ 6,217.4 $ 5,299.1 Benefits, claims and settlement expenses: Direct $ 8,667.7 $ 8,216.3 $ 7,202.5 Assumed 24.9 27.7 28.1 Ceded (500.1) (421.4) (317.4) Net benefits, claims and settlement expenses $ 8,192.5 $ 7,822.6 $ 6,913.2
ASU 2014-09 - Revenue recognition
Adoption of Revenue Recognition Guidance
Impacts to Consolidated Statements of Financial Position from Adoption of Guidance (Table)	December 31, 2018 Impact of adopting revenue recognition As reported As adjusted (1) accounting guidance (in millions) Assets Deferred acquisition costs (2) $ 3,693.5 $ 3,887.2 $ (193.7) Other assets (3) 1,378.9 1,241.3 137.6 Liabilities Deferred income taxes 958.4 979.2 (20.8) Stockholders' equity Total stockholders' equity 11,456.0 11,491.3 (35.3) (1) Excludes the impact of adopting revenue recognition accounting guidance. (2) Certain costs to obtain a contract previously recorded as DAC are now recorded as a contract cost asset or are no longer deferrable under revenue recognition guidance. (3) Includes the contract cost asset.

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2018
Goodwill and Other Intangible Assets
Goodwill (Table)	Retirement Principal U.S. and Income Global Principal Insurance Solutions Investors International Solutions Corporate Consolidated (in millions) Balance as of January 1, 2017 $ 57.4 $ 242.5 $ 664.3 $ 56.6 $ — $ 1,020.8 Foreign currency — 4.8 43.2 — — 48.0 Balance as of December 31, 2017 57.4 247.3 707.5 56.6 — 1,068.8 Goodwill from acquisitions (1) — 65.0 46.8 — 2.1 113.9 Goodwill disposed (2) — — (12.0) — — (12.0) Foreign currency — (5.0) (65.7) — — (70.7) Balance as of December 31, 2018 $ 57.4 $ 307.3 $ 676.6 $ 56.6 $ 2.1 $ 1,100.0 (1) Relates to the acquisitions of: a) RobustWealth, a financial technology company, which is consolidated within our Corporate segment with the majority of the goodwill allocated to our Principal Global Investors segment; b) INTERNOS, a London-based European real estate investment manager that, upon acquisition, became Principal Real Estate Europe Limited and is consolidated within our Principal Global Investors segment; c) MetLife Afore, S.A. de C.V., which was MetLife, Inc.’s pension fund management business in Mexico and is consolidated within our Principal International segment. (2) Relates to sales of closed blocks of business in Mexico.
Finite Lived Intangible Assets (Table)	December 31, 2018 2017 (in millions) Gross carrying value $ 810.2 $ 782.9 Accumulated amortization 288.4 277.7 Net carrying value $ 521.8 $ 505.2
Other Finite Lived Intangible Assets Estimated Amortization Expense (Table)	As of December 31, 2018, the estimated amortization expense for the next five years is as follows (in millions): Year ending December 31: 2019 $ 48.5 2020 48.2 2021 47.0 2022 46.3 2023 44.2

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	12 Months Ended
	Dec. 31, 2018
Variable Interest Entities
Carrying Amounts of Assets and Liabilities of Consolidated Variable Interest Entities (Table)	December 31, 2018 December 31, 2017 Total Total Total Total assets liabilities assets liabilities (in millions) Grantor trusts (1) $ 95.0 $ 89.4 $ 268.8 $ 253.1 CMBS 6.4 — 9.4 — Mandatory retirement savings funds (2) 37,915.7 37,579.3 42,311.4 41,921.4 Real estate (3) 379.2 70.6 387.1 19.5 Sponsored investment funds (4) 526.5 3.6 178.1 1.0 Total $ 38,922.8 $ 37,742.9 $ 43,154.8 $ 42,195.0 (1) The assets of grantor trusts are primarily fixed maturities, available-for-sale. The liabilities are primarily other liabilities that reflect an embedded derivative of the forecasted transaction to deliver the underlying securities. (2) The assets of the mandatory retirement savings funds include separate account assets and equity securities. The liabilities include separate account liabilities and contractholder funds. (3) The assets of the real estate VIEs primarily include real estate and cash. Liabilities primarily include long-term debt and other liabilities. (4) The assets of sponsored investment funds are primarily fixed maturities and equity securities, certain of which are reported with other investments, and cash. The consolidated statements of financial position included a $325.7 million and $52.4 million redeemable noncontrolling interest for sponsored investment funds as of December 31, 2018 and December 31, 2017, respectively.
Asset Carrying Value and Maximum Loss Exposure of Unconsolidated Variable Interest Entities (Table)	Maximum exposure to Asset carrying value loss (1) (in millions) December 31, 2018 Fixed maturities, available-for-sale: Corporate $ 235.3 $ 222.6 Residential mortgage-backed pass-through securities 2,460.6 2,488.5 Commercial mortgage-backed securities 3,945.6 4,023.1 Collateralized debt obligations (2) 2,420.8 2,451.3 Other debt obligations 7,153.2 7,196.6 Fixed maturities, trading: Residential mortgage-backed pass-through securities 322.6 322.6 Commercial mortgage-backed securities 13.8 13.8 Collateralized debt obligations (2) 11.8 11.8 Other debt obligations 9.7 9.7 Equity securities 103.9 103.9 Other investments: Other limited partnership and fund interests (3) 737.5 1,432.2 December 31, 2017 Fixed maturities, available-for-sale: Corporate $ 244.2 $ 224.5 Residential mortgage-backed pass-through securities 2,523.3 2,493.8 Commercial mortgage-backed securities 3,708.3 3,734.0 Collateralized debt obligations (2) 1,359.3 1,372.1 Other debt obligations 5,646.2 5,645.1 Fixed maturities, trading: Residential mortgage-backed pass-through securities 366.5 366.5 Commercial mortgage-backed securities 0.7 0.7 Equity securities 77.1 77.1 Other investments: Other limited partnership and fund interests 797.4 1,438.0 (1) Our risk of loss is limited to our initial investment measured at amortized cost for fixed maturities, available-for-sale. Our risk of loss is limited to our investment measured at fair value for our fixed maturities, trading and equity securities. Our risk of loss is limited to our carrying value plus any unfunded commitments and/or guarantees and similar provisions for our other investments. Unfunded commitments are not liabilities on our consolidated statements of financial position because we are only required to fund additional equity when called upon to do so by the general partner or investment manager. (2) Primarily consists of collateralized loan obligations backed by secured corporate loans. (3) As of December 31, 2018, the maximum exposure to loss for other limited partnership and fund interests includes $132.2 million of debt within certain of our managed international real estate funds that is fully secured by assets whose value exceeds the amount of the debt, but also includes recourse to the investment manager.

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2018
Investments
Fixed Maturities and Equity Securities Available-for-Sale (Table)	Other-than- Gross Gross temporary Amortized unrealized unrealized impairments in cost gains losses Fair value AOCI (1) (in millions) December 31, 2018 Fixed maturities, available-for-sale: U.S. government and agencies $ 1,441.6 $ 16.4 $ 17.0 $ 1,441.0 $ — Non-U.S. governments 833.4 71.7 14.6 890.5 — States and political subdivisions 6,125.0 196.0 95.3 6,225.7 — Corporate 35,134.6 1,249.9 845.2 35,539.3 — Residential mortgage-backed pass-through securities 2,488.5 21.9 49.8 2,460.6 — Commercial mortgage-backed securities 4,023.1 17.1 94.6 3,945.6 16.3 Collateralized debt obligations (2) 2,451.3 — 30.5 2,420.8 1.2 Other debt obligations 7,228.3 39.4 82.7 7,185.0 36.1 Total fixed maturities, available-for-sale $ 59,725.8 $ 1,612.4 $ 1,229.7 $ 60,108.5 $ 53.6 December 31, 2017 Fixed maturities, available-for-sale: U.S. government and agencies $ 1,314.5 $ 44.9 $ 7.7 $ 1,351.7 $ — Non-U.S. governments 820.5 84.6 3.6 901.5 — States and political subdivisions 6,446.1 371.4 15.9 6,801.6 — Corporate 34,673.0 2,464.2 104.1 37,033.1 0.5 Residential mortgage-backed pass-through securities 2,493.8 50.8 21.3 2,523.3 — Commercial mortgage-backed securities 3,734.0 32.7 58.4 3,708.3 50.6 Collateralized debt obligations (2) 1,372.1 2.7 15.5 1,359.3 0.3 Other debt obligations 5,708.1 42.0 40.5 5,709.6 41.9 Total fixed maturities, available-for-sale $ 56,562.1 $ 3,093.3 $ 267.0 $ 59,388.4 $ 93.3 Total equity securities, available-for-sale $ 94.0 $ 7.4 $ 5.4 $ 96.0 (1) Excludes $64.2 million and $103.0 million as of December 31, 2018 and December 31, 2017 , respectively, of net unrealized gains on impaired fixed maturities, available-for-sale related to changes in fair value subsequent to the impairment date, which are included in gross unrealized gains and gross unrealized losses. (2) Primarily consists of collateralized loan obligations backed by secured corporate loans.
Fixed Maturities Available-for-Sale by Contractual Maturity (Table)	The amortized cost and fair value of fixed maturities, available-for-sale as of December 31, 2018, by expected maturity, were as follows: Amortized cost Fair value (in millions) Due in one year or less $ 2,747.4 $ 2,753.5 Due after one year through five years 10,602.1 10,631.7 Due after five years through ten years 10,511.7 10,389.7 Due after ten years 19,673.4 20,321.6 Subtotal 43,534.6 44,096.5 Mortgage-backed and other asset-backed securities 16,191.2 16,012.0 Total $ 59,725.8 $ 60,108.5
Net Investment Income (Table)	For the year ended December 31, 2018 2017 2016 (in millions) Fixed maturities, available-for-sale $ 2,479.9 $ 2,342.3 $ 2,253.8 Fixed maturities, trading 26.4 12.6 20.2 Equity securities, available-for-sale — 21.7 20.1 Equity securities, trading — 46.1 31.4 Equity securities 38.8 — — Mortgage loans 641.4 605.9 573.9 Real estate 158.8 129.4 127.9 Policy loans 45.0 45.6 46.3 Cash and cash equivalents 56.2 28.6 14.2 Derivatives (1) 0.1 (3.2) (36.1) Other 285.0 319.6 329.2 Total 3,731.6 3,548.6 3,380.9 Investment expenses (102.4) (89.3) (84.4) Net investment income $ 3,629.2 $ 3,459.3 $ 3,296.5 (1) Relates to periodic settlements of derivatives used in fair value and cash flow hedges of fixed maturities, available-for-sale. See Note 5, Derivative Financial Instruments, for further details.
Net Realized Capital Gains and Losses (Table)	For the year ended December 31, 2018 2017 2016 (in millions) Fixed maturities, available-for-sale: Gross gains $ 40.2 $ 14.7 $ 74.6 Gross losses (74.8) (27.2) (28.6) Net impairment losses (29.1) (81.7) (96.7) Hedging, net (39.6) (28.5) (37.9) Fixed maturities, trading (1) (9.0) (8.0) 4.1 Equity securities, available-for-sale: Gross gains — 0.2 — Net impairment losses — (0.1) (1.7) Equity securities, trading (2) — 65.0 6.8 Equity securities (3) (17.7) — — Mortgage loans 6.2 9.0 4.5 Derivatives 11.7 (149.8) 210.1 Other (4) 36.7 730.6 35.9 Net realized capital gains (losses) $ (75.4) $ 524.2 $ 171.1 (1) Unrealized gains (losses) on fixed maturities, trading still held at the reporting date were $(12.2) million, $(7.5) million and $6.5 million for the years ended December 31, 2018, 2017 and 2016, respectively. (2) Unrealized gains (losses) on equity securities, trading still held at the reporting date were $45.3 million and $(0.8) million for the years ended December 31, 2017 and 2016, respectively. This excludes $34.9 million and $18.8 million of unrealized gains (losses) on equity securities, trading still held at the reporting date for the years ended December 31, 2017 and 2016, respectively, that were reported in net investment income. (3) Unrealized gains (losses) on equity securities still held at the reporting date were $(39.9) million for the year ended December 31, 2018. This excludes $ 4.9 million of unrealized gains (losses) on equity securities still held at the reporting date for the year ended December 31, 2018, that was reported in net investment income. (4) Further details relating to other gains in 2017 are included under the caption “ Real Estate Transactions."
Other-Than-Temporary Impairment Losses, Net of Recoveries (Table)	For the year ended December 31, 2018 2017 2016 (in millions) Fixed maturities, available-for-sale $ 10.6 $ (28.6) $ (97.1) Equity securities, available-for-sale — (0.1) (1.7) Total other-than-temporary impairment losses, net of recoveries from the sale of previously impaired securities 10.6 (28.7) (98.8) Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified to (from) OCI (1) (39.7) (53.1) 0.4 Net impairment losses on available-for-sale securities $ (29.1) $ (81.8) $ (98.4) (1) Represents the net impact of (a) gains resulting from reclassification of noncredit impairment losses for fixed maturities with bifurcated OTTI from net realized capital gains (losses) to OCI and (b) losses resulting from reclassification of previously recognized noncredit impairment losses from OCI to net realized capital gains (losses) for fixed maturities with bifurcated OTTI that had additional credit losses or fixed maturities that previously had bifurcated OTTI that have now been sold or are intended to be sold.
Other-Than-Temporary Impairment, Credit Losses Recognized in Earnings (Table)	For the year ended December 31, 2018 2017 2016 (in millions) Beginning balance $ (124.3) $ (139.9) $ (131.5) Credit losses for which an other-than-temporary impairment was not previously recognized (11.3) (15.0) (43.4) Credit losses for which an other-than-temporary impairment was previously recognized (20.0) (42.5) (31.7) Reduction for credit losses previously recognized on fixed maturities now sold, paid down or intended to be sold 29.5 63.3 60.5 Net reduction for positive changes in cash flows expected to be collected and amortization (1) 8.6 10.0 6.4 Foreign currency translation adjustment — (0.2) (0.2) Ending balance $ (117.5) $ (124.3) $ (139.9) (1) Amounts are recognized in net investment income.
Gross Unrealized Losses for Fixed Maturities and Equity Securities (Table)	December 31, 2018 Greater than Less than or equal to twelve months twelve months Total Gross Gross Gross Fair unrealized Fair unrealized Fair unrealized value losses value losses value losses (in millions) Fixed maturities, available-for-sale: U.S. government and agencies $ 101.8 $ 1.6 $ 500.3 $ 15.4 $ 602.1 $ 17.0 Non-U.S. governments 210.2 4.7 191.5 9.9 401.7 14.6 States and political subdivisions 1,359.9 33.9 1,590.3 61.4 2,950.2 95.3 Corporate 13,198.4 476.0 6,865.0 369.2 20,063.4 845.2 Residential mortgage-backed pass- through securities 236.7 1.0 1,410.2 48.8 1,646.9 49.8 Commercial mortgage-backed securities 790.3 11.6 2,223.2 83.0 3,013.5 94.6 Collateralized debt obligations (1) 2,233.3 24.0 162.6 6.5 2,395.9 30.5 Other debt obligations 985.5 4.9 3,665.1 77.8 4,650.6 82.7 Total fixed maturities, available-for-sale $ 19,116.1 $ 557.7 $ 16,608.2 $ 672.0 $ 35,724.3 $ 1,229.7 (1) Primarily consists of collateralized loan obligations backed by secured corporate loans. December 31, 2017 Greater than or Less than equal to twelve twelve months months Total Gross Gross Gross Fair unrealized Fair unrealized Fair unrealized value losses value losses value losses (in millions) Fixed maturities, available-for-sale: U.S. government and agencies $ 294.2 $ 2.2 $ 180.9 $ 5.5 $ 475.1 $ 7.7 Non-U.S. governments 111.0 1.7 22.1 1.9 133.1 3.6 States and political subdivisions 720.0 5.0 437.7 10.9 1,157.7 15.9 Corporate 3,871.5 43.4 1,644.3 60.7 5,515.8 104.1 Residential mortgage-backed pass- through securities 354.4 2.0 734.5 19.3 1,088.9 21.3 Commercial mortgage-backed securities 1,342.7 19.9 820.3 38.5 2,163.0 58.4 Collateralized debt obligations (1) 460.9 2.1 38.3 13.4 499.2 15.5 Other debt obligations 2,667.6 16.0 956.8 24.5 3,624.4 40.5 Total fixed maturities, available-for-sale $ 9,822.3 $ 92.3 $ 4,834.9 $ 174.7 $ 14,657.2 $ 267.0 Total equity securities, available-for-sale $ — $ — $ 40.4 $ 5.4 $ 40.4 $ 5.4 (1) Primarily consists of collateralized loan obligations backed by secured corporate loans.
Net Unrealized Gains and Losses on Available-for-Sale Securities and Derivative Instruments (Table)	December 31, 2018 December 31, 2017 (in millions) Net unrealized gains on fixed maturities, available-for-sale (1) $ 400.8 $ 2,898.5 Noncredit component of impairment losses on fixed maturities, available-for-sale (53.6) (93.3) Net unrealized gains on equity securities, available-for-sale — 2.0 Net unrealized gains on derivative instruments 118.5 108.2 Adjustments for assumed changes in amortization patterns 30.3 (150.6) Adjustments for assumed changes in policyholder liabilities (293.7) (645.5) Net unrealized gains on other investments and noncontrolling interest adjustments 68.8 31.3 Provision for deferred income taxes (63.8) (695.5) Net unrealized gains on available-for-sale securities and derivative instruments $ 207.3 $ 1,455.1 (1) Excludes net unrealized gains (losses) on fixed maturities, available-for-sale included in fair value hedging relationships.
Mortgage Loans (Table)	December 31, 2018 December 31, 2017 (in millions) Commercial mortgage loans $ 13,996.3 $ 12,897.3 Residential mortgage loans 1,368.0 1,285.9 Total amortized cost 15,364.3 14,183.2 Valuation allowance (27.4) (32.7) Total carrying value $ 15,336.9 $ 14,150.5
Mortgage Loans Purchased and Sold (Table)	For the year ended December 31, 2018 2017 2016 (in millions) Commercial mortgage loans: Purchased $ 127.5 $ 144.2 $ Sold 2.2 28.9 Residential mortgage loans: Purchased 394.2 346.0 Sold 80.3 152.2
Commercial Mortgage Loans by Geographic Distribution and Property Type Distribution (Table)	December 31, 2018 December 31, 2017 Amortized Percent Amortized Percent cost of total cost of total ($ in millions) Geographic distribution New England $ 640.6 4.6 % $ 591.8 4.6 % Middle Atlantic 3,927.3 28.0 3,623.0 28.1 East North Central 592.8 4.2 675.2 5.2 West North Central 205.8 1.5 174.9 1.4 South Atlantic 2,206.5 15.8 2,325.3 18.0 East South Central 422.5 3.0 375.7 2.9 West South Central 1,213.8 8.7 1,072.4 8.3 Mountain 968.6 6.9 1,039.3 8.1 Pacific 3,567.6 25.5 2,849.0 22.1 International 250.8 1.8 170.7 1.3 Total $ 13,996.3 100.0 % $ 12,897.3 100.0 % Property type distribution Office $ 4,625.8 33.0 % $ 4,700.2 36.4 % Retail 2,305.6 16.5 2,612.7 20.3 Industrial 2,312.9 16.5 1,881.5 14.6 Apartments 4,250.5 30.4 3,301.9 25.6 Hotel 99.8 0.7 130.9 1.0 Mixed use/other 401.7 2.9 270.1 2.1 Total $ 13,996.3 100.0 % $ 12,897.3 100.0 %
Commercial Mortgage Loan Portfolio by Credit Risk (Table)	December 31, 2018 Brick and mortar CTL Total (in millions) A- and above $ 12,735.2 $ 84.3 $ 12,819.5 BBB+ thru BBB- 977.3 105.7 1,083.0 BB+ thru BB- 88.3 — 88.3 B+ and below 5.5 — 5.5 Total $ 13,806.3 $ 190.0 $ 13,996.3 December 31, 2017 Brick and mortar CTL Total (in millions) A- and above $ 11,636.2 $ 129.0 $ 11,765.2 BBB+ thru BBB- 934.1 102.4 1,036.5 BB+ thru BB- 89.0 — 89.0 B+ and below 6.3 0.3 6.6 Total $ 12,665.6 $ 231.7 $ 12,897.3
Performing and Non-Performing Residential Mortgage Loans (Table)	December 31, 2018 First liens Home equity Total (in millions) Performing $ 1,340.3 $ 10.8 $ 1,351.1 Non-performing 12.6 4.3 16.9 Total $ 1,352.9 $ 15.1 $ 1,368.0 December 31, 2017 First liens Home equity Total (in millions) Performing $ 1,251.4 $ 16.5 $ 1,267.9 Non-performing 11.5 6.5 18.0 Total $ 1,262.9 $ 23.0 $ 1,285.9
Non-Accrual Mortgage Loans (Table)	December 31, 2018 December 31, 2017 (in millions) Residential: First liens $ 10.1 $ 3.9 Home equity 4.3 6.5 Total $ 14.4 $ 10.4
Mortgage Loans Aging (Table)	December 31, 2018 Recorded investment 90 days or 90 days or 30-59 days 60-89 days more past Total more and past due past due due past due Current Total loans accruing (in millions) Commercial-brick and mortar $ — $ — $ — $ — $ 13,806.3 $ 13,806.3 $ — Commercial-CTL — — — — 190.0 190.0 — Residential-first liens 44.3 8.4 12.1 64.8 1,288.1 1,352.9 2.5 Residential-home equity 0.8 0.6 0.4 1.8 13.3 15.1 — Total $ 45.1 $ 9.0 $ 12.5 $ 66.6 $ 15,297.7 $ 15,364.3 $ 2.5 December 31, 2017 Recorded investment 90 days or 90 days or 30-59 days 60-89 days more past Total more and past due past due due past due Current Total loans accruing (in millions) Commercial-brick and mortar $ — $ — $ — $ — $ 12,665.6 $ 12,665.6 $ — Commercial-CTL — — — — 231.7 231.7 — Residential-first liens 37.2 7.9 10.6 55.7 1,207.2 1,262.9 7.6 Residential-home equity 1.9 0.7 0.8 3.4 19.6 23.0 — Total $ 39.1 $ 8.6 $ 11.4 $ 59.1 $ 14,124.1 $ 14,183.2 $ 7.6
Mortgage Loan Valuation Allowance (Table)	Commercial Residential Total (in millions) For the year ended December 31, 2018 Beginning balance $ 25.8 $ 6.9 $ 32.7 Provision (1.5) (4.5) (6.0) Charge-offs — (2.4) (2.4) Recoveries — 3.1 3.1 Ending balance $ 24.3 $ 3.1 $ 27.4 Allowance ending balance by basis of impairment method: Individually evaluated for impairment $ — $ 1.4 $ 1.4 Collectively evaluated for impairment 24.3 1.7 26.0 Allowance ending balance $ 24.3 $ 3.1 $ 27.4 Loan balance by basis of impairment method: Individually evaluated for impairment $ — $ 9.2 $ 9.2 Collectively evaluated for impairment 13,996.3 1,358.8 15,355.1 Loan ending balance $ 13,996.3 $ 1,368.0 $ 15,364.3 For the year ended December 31, 2017 Beginning balance $ 27.4 $ 17.5 $ 44.9 Provision (1.6) (10.4) (12.0) Charge-offs — (5.1) (5.1) Recoveries — 4.9 4.9 Ending balance $ 25.8 $ 6.9 $ 32.7 Allowance ending balance by basis of impairment method: Individually evaluated for impairment $ — $ 4.5 $ 4.5 Collectively evaluated for impairment 25.8 2.4 28.2 Allowance ending balance $ 25.8 $ 6.9 $ 32.7 Loan balance by basis of impairment method: Individually evaluated for impairment $ — $ 12.5 $ 12.5 Collectively evaluated for impairment 12,897.3 1,273.4 14,170.7 Loan ending balance $ 12,897.3 $ 1,285.9 $ 14,183.2 For the year ended December 31, 2016 Beginning balance $ 27.5 $ 24.1 $ 51.6 Provision 1.4 (5.6) (4.2) Charge-offs (1.5) (4.6) (6.1) Recoveries — 3.6 3.6 Ending balance $ 27.4 $ 17.5 $ 44.9 Allowance ending balance by basis of impairment method: Individually evaluated for impairment $ — $ 5.9 $ 5.9 Collectively evaluated for impairment 27.4 11.6 39.0 Allowance ending balance $ 27.4 $ 17.5 $ 44.9 Loan balance by basis of impairment method: Individually evaluated for impairment $ — $ 19.2 $ 19.2 Collectively evaluated for impairment 12,055.2 1,200.7 13,255.9 Loan ending balance $ 12,055.2 $ 1,219.9 $ 13,275.1
Impaired Mortgage Loans (Table)	December 31, 2018 Unpaid Recorded principal Related investment balance allowance (in millions) With no related allowance recorded: Residential-first liens $ 1.6 $ 1.6 $ — With an allowance recorded: Residential-first liens 2.2 2.2 — Residential-home equity 5.4 6.5 1.4 Total: Residential $ 9.2 $ 10.3 $ 1.4 December 31, 2017 Unpaid Recorded principal Related investment balance allowance (in millions) With no related allowance recorded: Residential-first liens $ 0.9 $ 0.8 $ — With an allowance recorded: Residential-first liens 4.0 4.0 0.2 Residential-home equity 7.6 8.6 4.3 Total: Residential $ 12.5 $ 13.4 $ 4.5 Average recorded Interest income investment recognized (in millions) For the year ended December 31, 2018 With no related allowance recorded: Residential-first liens $ 1.3 $ — With an allowance recorded: Residential-first liens 3.2 0.1 Residential-home equity 6.5 0.2 Total: Residential $ 11.0 $ 0.3 For the year ended December 31, 2017 With no related allowance recorded: Residential-first liens $ 1.2 $ — With an allowance recorded: Residential-first liens 4.4 0.2 Residential-home equity 10.3 0.2 Total: Residential $ 15.9 $ 0.4 For the year ended December 31, 2016 With no related allowance recorded: Residential-first liens $ 2.6 $ — With an allowance recorded: Residential-first liens 5.3 0.1 Residential-home equity 13.4 0.3 Total: Residential $ 21.3 $ 0.4
Real Estate Transactions (Table)	The following consolidated statement of financial position line items were most significantly impacted by the transactions, each having a net increase as of September 30, 2017, (in millions): Real estate $ 293.4 Other investments 222.4 Cash and cash equivalents 219.6 Long-term debt 49.4 Income taxes currently payable 179.1 Deferred income taxes 101.0
Minority Interests in Unconsolidated Entities-Balance Sheet (Table)	December 31, 2018 2017 (in millions) Total assets $ 135,355.6 $ 136,171.8 Total liabilities 80,265.4 83,815.2 Total equity $ 55,090.2 $ 52,356.6 Net investment in unconsolidated entities (1) $ 1,723.7 $ 1,616.2 (1)
Minority Interests in Unconsolidated Entities-Income Statement (Table)	For the year ended December 31, 2018 2017 2016 (in millions) Total revenues $ 15,389.4 $ 15,020.9 $ 14,376.4 Net income 6,542.1 4,530.1 3,455.3 Our share of net income of unconsolidated entities (1) 161.6 232.7 232.7 (1)
Financial Assets Subject to Netting Agreements (Table)	Gross amounts not offset in the consolidated statements of financial position Gross amount of recognized Financial Collateral assets (1) instruments (2) received Net amount (in millions) December 31, 2018 Derivative assets $ 186.3 $ (70.5) $ (108.1) $ 7.7 Reverse repurchase agreements 53.0 — (53.0) — Total $ 239.3 $ (70.5) $ (161.1) $ 7.7 December 31, 2017 Derivative assets $ 287.0 $ (116.3) $ (149.5) $ 21.2 Reverse repurchase agreements 17.6 — (17.6) — Total $ 304.6 $ (116.3) $ (167.1) $ 21.2 (1) The gross amount of recognized derivative and reverse repurchase agreement assets are reported with other investments and cash and cash equivalents, respectively, on the consolidated statements of financial position. The above excludes $7.7 million and $17.0 million of derivative assets as of December 31, 2018 and December 31, 2017, respectively, that are not subject to master netting agreements or similar agreements. The gross amounts of derivative and reverse repurchase agreement assets are not netted against offsetting liabilities for presentation on the consolidated statements of financial position. (2) Represents amount of offsetting derivative liabilities that are subject to an enforceable master netting agreement or similar agreement that are not netted against the gross derivative assets for presentation on the consolidated statements of financial position.
Financial Liabilities Subject to Netting Agreements (Table)	Gross amounts not offset in the consolidated statements of financial position Gross amount of recognized Financial Collateral liabilities (1) instruments (2) pledged Net amount (in millions) December 31, 2018 Derivative liabilities $ 153.4 $ (70.5) $ (52.3) $ 30.6 Total $ 153.4 $ (70.5) $ (52.3) $ 30.6 December 31, 2017 Derivative liabilities $ 272.5 $ (116.3) $ (143.5) $ 12.7 Total $ 272.5 $ (116.3) $ (143.5) $ 12.7 (1) The gross amount of recognized derivative liabilities is reported with other liabilities on the consolidated statements of financial position. The above excludes $138.3 million and $415.6 million of derivative liabilities as of December 31, 2018 and December 31, 2017, respectively, which are primarily embedded derivatives that are not subject to master netting agreements or similar agreements. The gross amounts of derivative liabilities are not netted against offsetting assets for presentation on the consolidated statements of financial position. (2) Represents amount of offsetting derivative assets that are subject to an enforceable master netting agreement or similar agreement that are not netted against the gross derivative liabilities for presentation on the consolidated statements of financial position.

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2018
Derivative Financial Instruments
Derivative Financial Instruments, Exposure (Table)	December 31, 2018 December 31, 2017 (in millions) Notional amounts of derivative instruments Interest rate contracts: Interest rate swaps $ 34,393.7 $ 23,543.4 Interest rate options 1,126.9 657.0 Interest rate futures 260.0 236.5 Swaptions — 14.0 Foreign exchange contracts: Currency swaps 898.6 888.6 Currency forwards 863.6 915.5 Currency options 525.2 583.6 Equity contracts: Equity options 1,522.5 3,649.4 Equity futures 491.7 357.8 Credit contracts: Credit default swaps 420.0 668.5 Other contracts: Embedded derivatives 9,452.3 9,402.3 Total notional amounts at end of period $ 49,954.5 $ 40,916.6 Credit exposure of derivative instruments Interest rate contracts: Interest rate swaps $ 95.4 $ 163.4 Interest rate options 16.3 19.8 Foreign exchange contracts: Currency swaps 71.2 79.1 Currency forwards 2.8 24.3 Currency options 1.9 1.6 Equity contracts: Equity options 7.7 18.2 Credit contracts: Credit default swaps 2.4 5.0 Total gross credit exposure 197.7 311.4 Less: collateral received 122.9 159.7 Net credit exposure $ 74.8 $ 151.7
Derivative Financial Instruments, Fair Value Disclosures (Table)	Derivative assets (1) Derivative liabilities (2) December 31, 2018 December 31, 2017 December 31, 2018 December 31, 2017 (in millions) Derivatives designated as hedging instruments Interest rate contracts $ — $ — $ 16.1 $ 22.9 Foreign exchange contracts 37.6 39.6 13.5 36.3 Total derivatives designated as hedging instruments $ 37.6 $ 39.6 $ 29.6 $ 59.2 Derivatives not designated as hedging instruments Interest rate contracts $ 108.0 $ 175.2 $ 22.6 $ 33.6 Foreign exchange contracts 38.4 66.2 72.9 26.3 Equity contracts 7.7 18.2 27.6 154.1 Credit contracts 2.3 4.8 4.4 1.5 Other contracts — — 134.6 413.4 Total derivatives not designated as hedging instruments 156.4 264.4 262.1 628.9 Total derivative instruments $ 194.0 $ 304.0 $ 291.7 $ 688.1 (1) The fair value of derivative assets is reported with other investments on the consolidated statements of financial position. (2) The fair value of derivative liabilities is reported with other liabilities on the consolidated statements of financial position, with the exception of certain embedded derivative liabilities. Embedded derivatives with a net liability fair value of $45.2 million and $160.3 million as of December 31, 2018 and December 31, 2017, respectively, are reported with contractholder funds on the consolidated statements of financial position.
Credit Derivatives Sold (Table)	December 31, 2018 Weighted Maximum average Notional Fair future expected life amount value payments (in years) (in millions) Single name credit default swaps Corporate debt AAA $ 10.0 $ 0.1 $ 10.0 0.7 A 15.0 0.1 15.0 1.0 BBB 190.0 0.4 190.0 1.7 BB 10.0 — 10.0 0.5 CCC 15.0 (3.6) 15.0 0.9 Government/municipalities AA 20.0 0.2 20.0 1.0 Sovereign A 10.0 0.1 10.0 0.7 BBB 55.0 0.4 55.0 1.3 Total credit default swap protection sold $ 325.0 $ (2.3) $ 325.0 1.4 December 31, 2017 Weighted Maximum average Notional Fair future expected life amount value payments (in years) (in millions) Single name credit default swaps Corporate debt AAA $ 30.0 $ 0.3 $ 30.0 1.2 AA 30.0 0.1 30.0 0.5 A 105.0 0.5 105.0 0.6 BBB 255.0 2.5 255.0 1.3 B 20.0 (0.5) 20.0 1.8 Government/municipalities AA 20.0 0.3 20.0 2.0 Sovereign A 10.0 0.2 10.0 1.7 BBB 55.0 0.8 55.0 2.3 Total credit default swap protection sold $ 525.0 $ 4.2 $ 525.0 1.3
Fair Value Hedges (Table)	Amount of gain (loss) Amount of gain (loss) recognized in net income on recognized in net income on derivatives for the year ended Hedged items in fair related hedged item for the year ended Derivatives in fair value December 31, (1) value hedging December 31, (1) hedging relationships 2018 2017 2016 relationships 2018 2017 2016 (in millions) (in millions) Interest rate contracts $ 6.2 $ 4.7 $ 19.5 Fixed maturities, available-for-sale $ (6.6) $ (5.2) $ (19.2) Interest rate contracts — (0.6) (0.9) Investment contracts — 0.6 1.0 Total $ 6.2 $ 4.1 $ 18.6 Total $ (6.6) $ (4.6) $ (18.2) (1) The gain (loss) on both derivatives and hedged items in fair value relationships is reported in net realized capital gains (losses) on the consolidated statements of operations. The net amount represents the ineffective portion of our fair value hedges.
Fair Value Hedges, Periodic Settlements Disclosures (Table)	Amount of gain (loss) for the year ended December 31, Hedged item 2018 2017 2016 (in millions) Fixed maturities, available-for-sale (1) $ (5.9) $ (10.3) $ (41.9) Investment contracts (2) — 0.9 2.6 (1) (2)
Cash Flow Hedges (Table)	Amount of gain (loss) Amount of gain (loss) recognized in AOCI on reclassified from AOCI on derivatives (effective portion) Location of gain (loss) derivatives (effective portion) for the year ended reclassified from for the year ended Derivatives in cash flow Related December 31, AOCI into net income December 31, hedging relationships hedged item 2018 2017 2016 (effective portion) 2018 2017 2016 (in millions) (in millions) Interest rate contracts Fixed maturities, available-for-sale $ 36.7 $ (51.7) $ (33.1) Net investment income $ 20.9 $ 21.0 $ 19.3 Net realized capital gains (losses) 17.0 (0.6) 11.2 Interest rate contracts Investment contracts — — 1.6 Benefits, claims and settlement expenses (0.1) — — Interest rate contracts Debt — — — Operating expense (10.7) (10.8) (9.2) Foreign exchange contracts Fixed maturities, available-for-sale 20.8 (68.5) 4.0 Net realized capital gains 12.7 22.0 6.4 Foreign exchange contracts Investment contracts (0.1) — 6.0 Benefits, claims and settlement expenses — — — Total $ 57.4 $ (120.2) $ (21.5) Total $ 39.8 $ 31.6 $ 27.7
Cash Flow Hedges, Periodic Settlements Disclosures (Table)	Amount of gain (loss) for the year ended December 31, Hedged item 2018 2017 2016 (in millions) Fixed maturities, available-for-sale (1) $ 6.0 $ 7.1 $ 5.8 Investment contracts (2) (0.1) (1.1) (15.7) (1) Reported in net investment income on the consolidated statements of operations. (2) Reported in benefits, claims and settlement expenses on the consolidated statements of operations.
Derivatives Not Designated as Hedging Instruments (Table)	Amount of gain (loss) recognized in net income on derivatives for the year ended December 31, Derivatives not designated as hedging instruments 2018 2017 2016 (in millions) Interest rate contracts $ (27.6) $ (26.9) $ 243.3 Foreign exchange contracts (64.2) 59.4 20.1 Equity contracts (31.0) (181.3) (123.5) Credit contracts (1.6) (15.9) 37.4 Other contracts 108.5 11.5 (4.8) Total $ (15.9) $ (153.2) $ 172.5

Closed Block (Tables)

Closed Block (Tables)	12 Months Ended
	Dec. 31, 2018
Closed Block
Closed Block Liabilities and Assets Designated to the Closed Block (Table)	December 31, 2018 December 31, 2017 (in millions) Closed Block liabilities Future policy benefits and claims $ 3,732.5 $ 3,899.7 Other policyholder funds 6.5 7.0 Policyholder dividends payable 211.3 219.6 Policyholder dividends obligation 36.6 161.7 Other liabilities 9.5 6.9 Total Closed Block liabilities 3,996.4 4,294.9 Assets designated to the Closed Block Fixed maturities, available-for-sale 2,176.4 2,304.4 Fixed maturities, trading 2.5 2.9 Equity securities 1.0 1.3 Mortgage loans 678.5 766.3 Policy loans 510.5 537.1 Other investments 33.8 49.4 Total investments 3,402.7 3,661.4 Cash and cash equivalents 42.1 13.2 Accrued investment income 39.5 41.1 Premiums due and other receivables 10.0 14.4 Deferred tax asset 30.5 34.6 Total assets designated to the Closed Block 3,524.8 3,764.7 Excess of Closed Block liabilities over assets designated to the Closed Block 471.6 530.2 Amounts included in accumulated other comprehensive income 5.2 1.9 Maximum future earnings to be recognized from Closed Block assets and liabilities $ 476.8 $ 532.1
Closed Block Revenues and Expenses (Table)	For the year ended December 31, 2018 2017 2016 (in millions) Revenues Premiums and other considerations $ 244.2 $ 275.6 $ 298.0 Net investment income 160.5 169.4 181.6 Net realized capital losses (3.4) (5.8) (1.0) Total revenues 401.3 439.2 478.6 Expenses Benefits, claims and settlement expenses 211.5 245.6 267.1 Dividends to policyholders 120.9 122.0 153.5 Operating expenses 3.3 3.5 3.6 Total expenses 335.7 371.1 424.2 Closed Block revenues, net of Closed Block expenses, before income taxes 65.6 68.1 54.4 Income taxes 11.1 46.0 17.1 Closed Block revenues, net of Closed Block expenses and income taxes 54.5 22.1 37.3 Funding adjustments (0.5) (4.4) 9.3 Closed Block revenues, net of Closed Block expenses, income taxes and funding adjustments $ 54.0 $ 17.7 $ 46.6
Change in Maximum Future Earnings of the Closed Block (Table)	For the year ended December 31, 2018 2017 2016 (in millions) Beginning of year $ 532.1 $ 549.8 $ 596.4 Effects of implementation of accounting changes (1) 1.3 — — End of year 476.8 532.1 549.8 Change in maximum future earnings $ (54.0) $ (17.7) $ (46.6) (1) Includes the effects of implementation of accounting changes related to equity investments and the reclassification of certain tax effects.

Deferred Acquisition Costs (Tab

Deferred Acquisition Costs (Tables)	12 Months Ended
	Dec. 31, 2018
Deferred Acquisition Costs
Deferred Acquisition Costs Rollforward (Table)	For the year ended December 31, 2018 2017 2016 (in millions) Balance at beginning of year $ 3,540.7 $ 3,380.2 $ 3,276.1 Costs deferred during the year 414.9 421.8 402.3 Amortized to expense during the year (1) (253.5) (234.6) (285.1) Adjustment related to unrealized (gains) losses on available-for-sale securities and derivative instruments 184.9 (26.7) (13.1) Other (2) (193.5) — — Balance at end of year $ 3,693.5 $ 3,540.7 $ 3,380.2 (1) Includes adjustments for revisions to estimated gross profits. (2) Reflects the impact of capitalized costs written off or transferred from DAC to a contract cost asset as a result of adopting revenue recognition guidance. See Note 1, Nature of Operations and Significant Accounting Policies, under the caption “Adoption of Revenue Recognition Guidance” for further details.

Insurance Liabilities (Tables)

Insurance Liabilities (Tables)	12 Months Ended
	Dec. 31, 2018
Contractholder Funds (Table)	December 31, 2018 2017 (in millions) Liabilities for investment contracts: Liabilities for individual annuities $ 12,913.9 $ 11,336.2 GICs 10,321.7 9,969.1 Funding agreements 7,729.5 8,106.5 Other investment contracts 1,652.2 1,751.5 Total liabilities for investment contracts 32,617.3 31,163.3 Universal life and other reserves 7,082.4 6,919.2 Total contractholder funds $ 39,699.7 $ 38,082.5
Liability for Unpaid Claims (Table)	For the year ended December 31, 2018 2017 2016 (in millions) Balance at beginning of year $ 2,130.5 $ 2,001.3 $ 1,872.2 Less: reinsurance recoverable 375.8 340.3 314.1 Net balance at beginning of year 1,754.7 1,661.0 1,558.1 Incurred: Current year 1,268.8 1,196.6 1,103.5 Prior years 0.3 18.2 24.4 Total incurred 1,269.1 1,214.8 1,127.9 Payments: Current year 815.7 767.2 701.9 Prior years 359.7 353.9 323.1 Total payments 1,175.4 1,121.1 1,025.0 Net balance at end of year 1,848.4 1,754.7 1,661.0 Plus: reinsurance recoverable 404.3 375.8 340.3 Balance at end of year $ 2,252.7 $ 2,130.5 $ 2,001.3 Amounts not included in the rollforward above: Claim adjustment expense liabilities $ 54.6 $ 50.7 $ 49.3
Reconciliation of unpaid claims to liability for unpaid claims (Table)	December 31, 2018 Dental, Vision, STD, LTD and Group Life Critical Illness and Waiver Accident Group Life Consolidated (in millions) Net outstanding liabilities for unpaid claims $ 1,170.5 $ 59.3 $ 48.3 $ 1,278.1 Reconciling items: Reinsurance recoverable on unpaid claims 67.2 — 1.4 68.6 Impact of discounting (217.7) — — (217.7) Liability for unpaid claims - short-duration contracts $ 1,020.0 $ 59.3 $ 49.7 1,129.0 Insurance contracts other than short-duration 1,123.7 Liability for unpaid claims $ 2,252.7
Claim Duration and Payout (Table)	December 31, 2018 (1) Dental, Vision, STD, LTD and Critical Group Life Illness and Group Year Waiver Accident Life 1 7.4 % 91.8 % 81.8 % 2 23.6 8.0 17.2 3 14.4 4 8.0 5 5.6 6 5.4 7 4.3 8 4.1 9 3.6 10 3.2 (1) Unaudited.
Discounting (Table)	Dental, Vision, STD, LTD and Group Critical Illness and Life Waiver Accident Group Life ($ in millions) Carrying amount of liabilities for unpaid claims December 31, 2018 $ 1,020.0 $ 59.3 $ 49.7 December 31, 2017 1,003.2 53.6 47.3 Range of discount rates December 31, 2018 3.3 - 7.0 % — - — % — - — % December 31, 2017 3.3 - 7.0 — - — — - — Aggregate amount of discount December 31, 2018 $ 217.7 $ — $ — December 31, 2017 226.2 — — Interest accretion For the year ended: December 31, 2018 $ 34.5 $ — $ — December 31, 2017 35.0 — — December 31, 2016 36.3 — —
Long-Term Disability/Group Life Waiver
Claims Development (Table)	Incurred Cumulative but not number of reported reported Net incurred claims (1) claims claims December 31, 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2018 2018 ($ in millions) Incurral year 2009 $ 218.6 $ 224.4 $ 224.2 $ 224.8 $ 217.7 $ 214.1 $ 208.5 $ 205.8 $ 205.6 $ 203.9 $ 0.7 6,555 2010 184.1 176.7 176.2 172.0 162.7 155.7 154.1 153.4 152.1 0.6 5,649 2011 203.7 192.6 185.4 184.8 178.4 172.3 169.6 167.6 0.1 6,289 2012 217.9 200.0 191.1 189.5 181.8 174.8 173.3 0.1 6,443 2013 219.3 203.3 188.4 190.7 182.3 179.5 0.1 7,047 2014 242.2 231.4 214.4 218.1 206.2 0.1 7,595 2015 231.0 227.2 217.2 215.3 5.1 7,170 2016 229.8 228.4 219.4 7.0 6,144 2017 238.4 239.7 3.1 5,991 2018 239.4 85.4 3,516 Total net incurred claims $ 1,996.4 Net cumulative paid claims (1) December 31, 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 (in millions) Incurral year 2009 $ 13.4 $ 55.2 $ 82.6 $ 101.0 $ 113.8 $ 124.6 $ 133.1 $ 141.8 $ 149.8 $ 156.4 2010 10.4 46.5 67.1 78.4 85.9 94.2 100.9 107.2 112.1 2011 11.2 50.0 72.5 85.7 95.4 105.2 112.6 119.3 2012 13.8 55.1 80.8 93.7 104.6 112.9 120.0 2013 12.5 55.0 81.4 97.0 106.4 116.4 2014 16.1 66.0 96.3 111.8 122.3 2015 16.9 67.0 98.0 114.6 2016 16.2 70.6 105.6 2017 17.8 76.5 2018 20.1 Total net paid claims 1,063.3 All outstanding liabilities for unpaid claims prior to 2009 net of reinsurance 237.4 Total outstanding liabilities for unpaid claims net of reinsurance $ 1,170.5 (1) 2009-2017 unaudited.
Dental/Vision/Short-Term Disability/Critical Illness/Accident
Claims Development (Table)	Incurred Cumulative but not number of reported reported Net incurred claims(1) claims claims December 31, 2017 2018 2018 2018 ($ in millions) Incurral year 2017 $ 595.8 $ 590.6 $ — 2,786,877 2018 648.3 35.9 2,893,347 Total net incurred claims $ 1,238.9 Net cumulative paid claims(1) December 31, 2017 2018 (in millions) Incurral year 2017 $ 542.3 $ 590.5 2018 589.1 Total net paid claims 1,179.6 All outstanding liabilities for unpaid claims prior to 2017 net of reinsurance — Total outstanding liabilities for unpaid claims net of reinsurance $ 59.3 (1) 2017 unaudited.
Group Life
Claims Development (Table)	Incurred Cumulative but not number of reported reported Net incurred claims(1) claims claims December 31, 2017 2018 2018 2018 ($ in millions) Incurral year 2017 $ 239.8 $ 237.6 $ 0.7 5,618 2018 239.6 22.0 4,735 Total net incurred claims $ 477.2 Net cumulative paid claims(1) December 31, 2017 2018 (in millions) Incurral year 2017 $ 195.2 $ 236.0 2018 193.9 Total net paid claims 429.9 All outstanding liabilities for unpaid claims prior to 2017 net of reinsurance 1.0 Total outstanding liabilities for unpaid claims net of reinsurance $ 48.3 (1) 2017 unaudited.

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2018
Debt
Short-Term Debt (Table)	December 31, 2018 Financing Short-term debt Obligor/Applicant structure Maturity Capacity outstanding (in millions) PFG, Principal Financial Services, Inc. ("PFS"), Principal Life as co-borrowers Credit facility November 2023 $ 600.0 $ — PFG, PFS, Principal Life and Principal Financial Services V (UK) LTD as co-borrowers Credit facility November 2023 200.0 — Principal International Chile Unsecured lines of credit 141.4 42.9 Principal Life Unsecured line of credit September 2019 60.0 — Total $ 1,001.4 $ 42.9 December 31, 2017 Financing Short-term debt Obligor/Applicant structure Maturity Capacity outstanding (in millions) PFG, PFS, Principal Life as co-borrowers Credit facility March 2022 $ 600.0 $ — PFG, PFS, Principal Life and Principal Financial Services V (UK) LTD as co-borrowers Credit facility March 2022 189.0 — PFG, PFS, Principal Life and Principal Financial Services V (UK) LTD as co-borrowers Credit facility March 2020 11.0 — Principal International Chile Unsecured lines of credit 107.3 39.5 Principal Life Unsecured line of credit December 2018 45.0 — Total $ 952.3 $ 39.5
Long-Term Debt (Table)	December 31, 2018 Principal Net unamortized Carrying (in millions) 3.3% notes payable, due 2022 $ 300.0 $ (1.5) $ 298.5 3.125% notes payable, due 2023 300.0 (1.2) 298.8 3.4% notes payable, due 2025 400.0 (3.0) 397.0 3.1% notes payable, due 2026 350.0 (2.7) 347.3 6.05% notes payable, due 2036 505.6 (2.6) 503.0 4.625% notes payable, due 2042 300.0 (3.3) 296.7 4.35% notes payable, due 2043 300.0 (3.3) 296.7 4.3% notes payable, due 2046 300.0 (3.3) 296.7 4.7% notes payable, due 2055 400.0 (4.9) 395.1 Non-recourse mortgages and notes payable 128.5 1.3 129.8 Total long-term debt $ 3,284.1 $ (24.5) $ 3,259.6 December 31, 2017 Principal Net unamortized Carrying (in millions) 3.3% notes payable, due 2022 $ 300.0 $ (1.9) $ 298.1 3.125% notes payable, due 2023 300.0 (1.5) 298.5 3.4% notes payable, due 2025 400.0 (3.5) 396.5 3.1% notes payable, due 2026 350.0 (3.1) 346.9 6.05% notes payable, due 2036 505.6 (2.7) 502.9 4.625% notes payable, due 2042 300.0 (3.3) 296.7 4.35% notes payable, due 2043 300.0 (3.4) 296.6 4.3% notes payable, due 2046 300.0 (3.4) 296.6 4.7% notes payable, due 2055 400.0 (5.0) 395.0 Non-recourse mortgages and notes payable 49.0 1.6 50.6 Total long-term debt $ 3,204.6 $ (26.2) $ 3,178.4
Future Annual Maturities of Long-Term Debt (Table)	As of December 31, 2018, future annual maturities of long-term debt were as follows (in millions): Year ending December 31: 2019 $ 26.7 2020 59.8 2021 — 2022 298.5 2023 298.8 Thereafter 2,575.8 Total future maturities of long-term debt $ 3,259.6

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Income Taxes
Income Tax Expense (Benefit) from Continuing Operations (Table)	For the year ended December 31, 2018 2017 2016 (in millions) Current income taxes (benefits): U.S. federal $ (48.9) $ (4.4) $ 38.6 State 10.3 48.9 (1.9) Foreign 51.7 38.1 36.6 Tax benefit of operating loss carryforward (13.5) (21.5) (17.5) Total current income taxes (benefits) (0.4) 61.1 55.8 Deferred income taxes (benefits): U.S. federal 224.3 (208.2) 171.7 State 19.2 42.5 (20.6) Foreign (12.4) 32.3 23.0 Total deferred income taxes (benefits) 231.1 (133.4) 174.1 Income taxes (benefits) $ 230.7 $ (72.3) $ 229.9
Income Before Income Taxes, Domestic and Foreign (Table)	For the year ended December 31, 2018 2017 2016 (in millions) Domestic $ 1,658.1 $ 1,848.5 $ 1,261.4 Foreign 126.3 403.7 330.3 Total income before income taxes $ 1,784.4 $ 2,252.2 $ 1,591.7
Reconciliation Between U.S. Corporate Income Tax Rate and Effective Income Tax Rate from Continuing Operations (Table)	For the year ended December 31, 2018 2017 2016 U.S. corporate income tax rate 21 % 35 % 35 % Dividends received deduction (4) (8) (10) Impact of the Tax Cuts and Jobs Act (3) (25) — Tax credits (3) (2) (2) Impact of equity method presentation (1) (2) (3) Interest exclusion from taxable income (1) (1) (1) State income taxes 1 2 — Local country permanent tax adjustments 1 — — Other 2 (2) (5) Effective income tax rate 13 % (3) % 14 %
Changes in Unrecognized Tax Benefits (Table)	For the year ended December 31, 2018 2017 (in millions) Balance at beginning of period $ 194.1 $ 207.8 Additions based on tax positions related to the current year 0.8 7.2 Additions for tax positions of prior years 43.7 20.2 Reductions for tax positions related to the current year (10.6) (3.3) Reductions for tax positions of prior years (23.2) (1.1) Settlements (162.7) (36.7) Balance at end of period (1) $ 42.1 $ 194.1 (1) If recognized, $4.9 million of the above amount of unrecognized tax benefits would reduce our 2018 effective income tax rate. We recognize interest and penalties related to uncertain tax positions in operating expenses within the consolidated statements of operations.
Components of Net Deferred Income Taxes (Table)	December 31, 2018 2017 (in millions) Deferred income tax assets: Insurance liabilities $ — $ 26.3 Investments, including derivatives 165.6 205.8 Net operating and capital loss carryforwards 80.8 68.3 Tax credit carryforwards 163.3 307.5 Employee benefits 327.3 314.5 Foreign currency translation 28.1 20.4 Other deferred income tax assets 33.8 42.7 Gross deferred income tax assets 798.9 985.5 Valuation allowance (17.0) (5.2) Total deferred income tax assets 781.9 980.3 Deferred income tax liabilities: Deferred acquisition costs (615.8) (587.0) Investments, including derivatives (298.1) (343.9) Net unrealized gains on available-for-sale securities (98.1) (597.9) Real estate (144.9) (147.1) Intangible assets (310.0) (253.9) Insurance liabilities (60.2) — Repatriation toll charge — (19.8) Other deferred income tax liabilities (71.9) (74.8) Total deferred income tax liabilities (1,599.0) (2,024.4) Total net deferred income tax liabilities $ (817.1) $ (1,044.1)
Net Deferred Income Taxes by Jurisdiction (Table)	December 31, 2018 2017 (in millions) Deferred income tax assets: State $ 108.2 $ 10.9 Foreign 33.1 37.5 Net deferred income tax assets 141.3 48.4 Deferred income tax liabilities: U.S. federal (708.2) (803.9) Foreign (250.2) (288.6) Net deferred income tax liabilities (958.4) (1,092.5) Total net deferred income tax liabilities $ (817.1) $ (1,044.1)

Employee and Agent Benefits (Ta

Employee and Agent Benefits (Tables)	12 Months Ended
	Dec. 31, 2018
Defined Benefit Plans and Other Postretirement Benefit Plans
Obligations and Funded Status (Table)	Other postretirement Pension benefits benefits December 31, December 31, 2018 2017 2018 2017 (in millions) Change in benefit obligation Benefit obligation at beginning of year $ (3,383.6) $ (3,056.2) $ (109.1) $ (109.8) Service cost (73.0) (67.1) (0.1) (0.1) Interest cost (119.5) (124.4) (3.5) (3.9) Actuarial gain (loss) 220.9 (268.0) 7.9 (1.7) Participant contributions — — (3.7) (3.5) Benefits paid 109.6 109.0 9.7 9.9 Plan amendments 6.4 23.1 — — Other — — (0.1) — Benefit obligation at end of year $ (3,239.2) $ (3,383.6) $ (98.9) $ (109.1) Change in plan assets Fair value of plan assets at beginning of year $ 2,542.2 $ 2,190.8 $ 696.8 $ 628.6 Actual return on plan assets (122.2) 368.3 (47.7) 73.9 Employer contribution 187.8 92.1 0.8 0.7 Participant contributions — — 3.7 3.5 Benefits paid (109.6) (109.0) (9.7) (9.9) Fair value of plan assets at end of year $ 2,498.2 $ 2,542.2 $ 643.9 $ 696.8 Amount recognized in statement of financial position Other assets $ — $ — $ 546.9 $ 589.5 Other liabilities (741.0) (841.4) (1.9) (1.8) Total $ (741.0) $ (841.4) $ 545.0 $ 587.7 Amount recognized in accumulated other comprehensive (income) loss Total net actuarial (gain) loss $ 673.3 $ 682.8 $ 40.2 $ (34.7) Prior service benefit (26.7) (23.7) (10.2) (24.1) Pre-tax accumulated other comprehensive (income) loss $ 646.6 $ 659.1 $ 30.0 $ (58.8)
Components of Net Periodic Benefit Cost (Income) (Table)	Other postretirement Pension benefits benefits For the year ended December 31, 2018 2017 2016 2018 2017 2016 (in millions) Service cost $ 73.0 $ 67.1 $ 65.0 $ 0.1 $ 0.1 $ 2.1 Interest cost 119.5 124.4 134.9 3.5 3.9 6.2 Expected return on plan assets (157.0) (144.2) (155.0) (33.6) (27.5) (32.6) Amortization of prior service benefit (3.4) (2.3) (2.2) (13.9) (34.6) (25.9) Recognized net actuarial (gain) loss 67.8 68.0 77.0 (1.5) — 0.2 Net periodic benefit cost (income) $ 99.9 $ 113.0 $ 119.7 $ (45.4) $ (58.1) $ (50.0)
Amounts Recognized in Net Periodic Benefit Cost and Accumulated Other Comprehensive (Income) Loss (Table)	Other Pension postretirement benefits benefits For the year ended December 31, 2018 2017 2018 2017 (in millions) Other changes recognized in accumulated other comprehensive (income) loss Net actuarial (gain) loss $ 58.3 $ 43.9 $ 73.4 $ (44.7) Prior service benefit (6.4) (23.1) — — Amortization of gain (loss) (67.8) (68.0) 1.5 — Amortization of prior service benefit 3.4 2.3 13.9 34.6 Total recognized in pre-tax accumulated other comprehensive (income) loss $ (12.5) $ (44.9) $ 88.8 $ (10.1) Total recognized in net periodic benefit cost and pre-tax accumulated other comprehensive (income) loss $ 87.4 $ 68.1 $ 43.4 $ (68.2)
Weighted-Average Assumptions Used to Determine Benefit Obligations (Table)	Pension benefits For the year ended December 31, 2018 2017 Discount rate 4.15 % 3.60 % Rate of compensation increase: Cash balance benefit 4.94 % 4.96 % Traditional benefit 2.73 % 2.77 % Other postretirement benefits For the year ended December 31, 2018 2017 Discount rate 3.95 % 3.35 % Rate of compensation increase N/A 2.39 %
Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost (Table)	Pension benefits For the year ended December 31, 2018 2017 2016 Discount rate 3.60 % 4.15 % 4.50 % Expected long-term return on plan assets 6.30 % 6.70 % 7.20 % Rate of compensation increase: Cash balance benefit 4.96 % 5.02 % 5.24 % Traditional benefit 2.77 % 2.82 % 3.11 % Other postretirement benefits For the year ended December 31, 2018 2017 2016 Discount rate (1) 3.35 % 3.75 % 3.35 % Expected long-term return on plan assets 4.85 % 4.40 % 5.24 % Rate of compensation increase 2.39 % 2.44 % 4.82 % (1) The funded statuses of the other postretirement employee benefit (“OPEB”) plans for which subsidies were eliminated in 2016 were remeasured as of October 31, 2016, and a portion of the impact was reflected in the 2016 net periodic postretirement benefit cost. A discount rate of 4.15% was used until the remeasurement date at which time a discount rate of 3.35% was used.
Assumed Health Care Cost Trend Rates (Table)	December 31, 2018 2017 Health care cost trend rate assumed for next year under age 65 7.0 % 7.0 % Health care cost trend rate assumed for next year age 65 and over 6.0 % 7.0 % Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) 4.5 % 4.5 % Year that the rate reaches the ultimate trend rate (under age 65) 2026 2024 Year that the rate reaches the ultimate trend rate (65 and older) 2025 2024
Effects of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates (Table)	1-percentage 1-percentage point increase point decrease (in millions) Effect on total of service cost and interest cost components $ 0.1 $ (0.1) Effect on accumulated postretirement benefit obligation (1.2) 1.2
Estimated Future Benefit Payments (Table)	Other postretirement benefits (gross benefit payments, including Pension benefits prescription drug benefits) (in millions) Year ending December 31: 2019 $ 154.4 $ 14.2 2020 143.3 12.8 2021 149.2 11.8 2022 158.6 11.1 2023 168.1 10.2 2024-2028 939.2 39.7
Defined Benefit Pension Plans Supplemental Information (Table)	For the year ended December 31, 2018 2017 Qualified Nonqualified Qualified Nonqualified Plan Plan Total Plan Plan Total (in millions) Amount recognized in statement of financial position Other assets $ — $ — $ — $ — $ — $ — Other liabilities (266.3) (474.7) (741.0) (340.0) (501.4) (841.4) Total $ (266.3) $ (474.7) $ (741.0) $ (340.0) $ (501.4) $ (841.4) Amount recognized in accumulated other comprehensive loss Total net actuarial loss $ 544.4 $ 128.9 $ 673.3 $ 516.4 $ 166.4 $ 682.8 Prior service benefit (11.0) (15.7) (26.7) (12.5) (11.2) (23.7) Pre-tax accumulated other comprehensive loss $ 533.4 $ 113.2 $ 646.6 $ 503.9 $ 155.2 $ 659.1 Components of net periodic benefit cost Service cost $ 65.7 $ 7.3 $ 73.0 $ 60.3 $ 6.8 $ 67.1 Interest cost 102.0 17.5 119.5 106.0 18.4 124.4 Expected return on plan assets (157.0) — (157.0) (144.2) — (144.2) Amortization of prior service benefit (1.5) (1.9) (3.4) (1.2) (1.1) (2.3) Recognized net actuarial loss 53.6 14.2 67.8 59.2 8.8 68.0 Net periodic benefit cost $ 62.8 $ 37.1 $ 99.9 $ 80.1 $ 32.9 $ 113.0 Other changes recognized in accumulated other comprehensive (income) loss Net actuarial (gain) loss $ 81.7 $ (23.4) $ 58.3 $ (11.9) $ 55.8 $ 43.9 Prior service benefit — (6.4) (6.4) (12.2) (10.9) (23.1) Amortization of net loss (53.6) (14.2) (67.8) (59.2) (8.8) (68.0) Amortization of prior service benefit 1.5 1.9 3.4 1.2 1.1 2.3 Total recognized in pre-tax accumulated other comprehensive (income) loss $ 29.6 $ (42.1) $ (12.5) $ (82.1) $ 37.2 $ (44.9) Total recognized in net periodic benefit cost and pre-tax accumulated other comprehensive (income) loss $ 92.4 $ (5.0) $ 87.4 $ (2.0) $ 70.1 $ 68.1
Pension benefits
Defined Benefit Plans and Other Postretirement Benefit Plans
Accumulated Benefit Obligation in Excess of Plan Assets (Table)	December 31, 2018 2017 (in millions) Projected benefit obligation $ 3,239.2 $ 3,383.6 Accumulated benefit obligation 3,029.0 3,139.3 Fair value of plan assets 2,498.2 2,542.2
Fair Value of Plan Assets (Table)	December 31, 2018 Assets Amount measured at measured at Fair value hierarchy level fair value net asset value Level 1 Level 2 Level 3 (in millions) Asset category Pooled separate account investments: U.S. large cap equity portfolios (1) $ 387.7 $ — $ — $ 387.7 $ — U.S. small/mid cap equity portfolios (2) 64.4 — — 64.4 — Balanced asset portfolios (3) 116.3 — — 116.3 — International equity portfolios (4) 220.9 — — 220.9 — Real estate investment portfolios (5) 133.6 — — 133.6 — Single client separate account investments: Fixed income securities: U.S. government and agencies 418.8 — 418.8 — — States and political subdivisions 24.0 — — 24.0 — Corporate 934.5 — — 934.5 — Commercial mortgage-backed securities 30.7 — — 30.7 — Other debt obligations 8.0 — — 8.0 — Hedge funds (6) 124.7 124.7 — — — Pooled separate account investment (7) 23.9 — — 23.9 — Other (8) 10.7 — 0.3 10.4 — Total $ 2,498.2 $ 124.7 $ 419.1 $ 1,954.4 $ — December 31, 2017 Assets Amount measured at measured at Fair value hierarchy level fair value net asset value Level 1 Level 2 Level 3 (in millions) Asset category Pooled separate account investments: U.S. large cap equity portfolios (1) $ 651.2 $ — $ — $ 651.2 $ — U.S. small/mid cap equity portfolios (2) 112.2 — — 112.2 — Balanced asset portfolios (3) 128.4 — — 128.4 — International equity portfolios (4) 325.8 — — 325.8 — Real estate investment portfolios (5) 126.2 — — 126.2 — Single client separate account investments: Fixed income securities: U.S. government and agencies 292.7 — 292.7 — — States and political subdivisions 16.9 — — 16.9 — Corporate 745.2 — — 745.2 — Commercial mortgage-backed securities 21.3 — — 21.3 — Other debt obligations 3.4 — — 3.4 — Hedge funds (6) 120.4 120.4 — — — Pooled separate account investment (7) 4.6 — — 4.6 — Other (8) (6.1) — 0.8 (6.9) — Total $ 2,542.2 $ 120.4 $ 293.5 $ 2,128.3 $ — (1) The portfolios invest primarily in publicly traded equity securities of large U.S. companies. (2) The portfolios invest primarily in publicly traded equity securities of mid-sized and small U.S. companies. (3) The portfolios are a combination of underlying fixed income and equity investment options. These investment options may include balanced, asset allocation, target-date and target-risk investment options. Although typically lower risk than investment options that invest solely in equities, all investment options in this category have the potential to lose value. (4) The portfolios invest primarily in publicly traded equity securities of non-U.S. companies. (5) The portfolio invests primarily in U.S. commercial real estate properties through a separate account. (6) The hedge funds have varying investment strategies that also have a variety of redemption terms and conditions. We do not have unfunded commitments associated with these hedge funds. (7) The single client separate accounts invest in a money market pooled separate account. (8) Includes cash and net (payables)/receivables for the single client separate accounts.
Target Asset Allocation (Table)	Asset category Target allocation Fixed income security portfolios % - % Equity portfolios % - % Real estate investment portfolios % Alternatives %
Other postretirement benefits
Defined Benefit Plans and Other Postretirement Benefit Plans
Accumulated Benefit Obligation in Excess of Plan Assets (Table)	December 31, 2018 2017 (in millions) Accumulated postretirement benefit obligation $ 2.1 $ 2.2 Fair value of plan assets 0.2 0.4
Fair Value of Plan Assets (Table)	December 31, 2018 Assets measured at Fair value hierarchy level fair value Level 1 Level 2 Level 3 (in millions) Asset category Cash and cash equivalents $ 0.3 $ 0.3 $ — $ — Fixed income security portfolios: Fixed income investment funds (1) 203.7 166.2 37.5 — U.S. equity portfolios (2) 135.8 101.0 34.8 — International equity portfolios (3) 61.2 47.4 13.8 — Alternative mutual fund portfolios (4) 235.4 235.4 — — Real estate mutual fund (5) 7.5 7.5 — — Total $ 643.9 $ 557.8 $ 86.1 $ — December 31, 2017 Assets measured at Fair value hierarchy level fair value Level 1 Level 2 Level 3 (in millions) Asset category Cash and cash equivalents $ 0.3 $ 0.3 $ — $ — Fixed income security portfolios: Fixed income investment funds (1) 209.8 177.7 32.1 — U.S. equity portfolios (2) 159.4 108.5 50.9 — International equity portfolios (3) 67.8 57.7 10.1 — Alternative mutual fund portfolios (4) 251.4 251.4 — — Real estate mutual fund (5) 8.1 8.1 — — Total $ 696.8 $ 603.7 $ 93.1 $ — (1) The portfolios invest in various fixed income securities, primarily of U.S. origin. These include, but are not limited to, corporate bonds, residential mortgage-backed securities, commercial mortgage-backed securities, U.S. Treasury securities, agency securities, asset-backed securities and collateralized mortgage obligations. (2) The portfolios invest primarily in publicly traded equity securities of large U.S. companies. (3) The portfolios invest primarily in publicly traded equity securities of non-U.S. companies. (4) The portfolios invest primarily in equities, corporate bonds, foreign currencies, convertible securities and derivatives. (5) The mutual fund invests primarily in U.S. commercial real estate properties.
Reconciliation of Plan Assets Measured at Fair Value Using Significant Unobservable Inputs (Table)	For the year ended December 31, 2016 Actual return gains Beginning (losses) on plan assets Ending assets Relating to Net assets balance assets still Relating to purchases, balance as of held at the assets sold sales, Transfers Transfers as of December 31, reporting during the and into out of December 31, 2015 date period settlements Level 3 Level 3 2016 (in millions) Asset category Principal Life general account investment $ 33.5 $ (1.7) $ (33.6) $ 1.8 $ — $ — $ —
Target Asset Allocation (Table)	Asset category Target allocation U.S. equity portfolios 24 % International equity portfolios 15 % Fixed income security portfolios 32 % Alternatives 24 % Real estate 5 %

Contingencies, Guarantees and_2

Contingencies, Guarantees and Indemnifications (Tables)	12 Months Ended
	Dec. 31, 2018
Contingencies, Guarantees and Indemnifications
Operating Lease Obligations (Table)	The following represents payments due by period for operating lease obligations (in millions): Year ending December 31: 2019 $ 50.3 2020 44.3 2021 35.5 2022 28.5 2023 20.2 2024 and thereafter 56.4 Total operating lease obligations 235.2 Less: Future sublease rental income on noncancelable leases 5.7 Total future minimum lease payments $ 229.5
Capital Leases Future Minimum Lease Payments (Table)	The following represents future minimum lease payments due by period for capital lease obligations (in millions). Year ending December 31: 2019 $ 12.7 2020 11.0 2021 8.2 2022 1.8 2023 0.4 2024 and thereafter 0.2 Total 34.3 Less: Amounts representing interest 1.4 Net present value of minimum lease payments $ 32.9

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2018
Stockholders' Equity
Common Stock Dividends (Table)	For the year ended December 31, 2018 2017 2016 Dividends declared per common share $ 2.10 $ 1.87 $ 1.61
Reconciliation of Outstanding Common Shares (Table)	For the year ended December 31, 2018 2017 2016 (in millions) Beginning balance 289.0 287.7 291.4 Shares issued 2.6 4.9 3.0 Treasury stock acquired (12.1) (3.6) (6.7) Ending balance 279.5 289.0 287.7
Other Comprehensive Income (Loss) (Table)	For the year ended December 31, 2018 Pre-Tax Tax After-Tax (in millions) Net unrealized losses on available-for-sale securities during the period $ (2,517.5) $ 515.4 $ (2,002.1) Reclassification adjustment for losses included in net income (1) 56.4 (5.3) 51.1 Adjustments for assumed changes in amortization patterns 185.9 (39.1) 146.8 Adjustments for assumed changes in policyholder liabilities 346.9 (72.3) 274.6 Net unrealized losses on available-for-sale securities (1,928.3) 398.7 (1,529.6) Noncredit component of impairment losses on fixed maturities, available-for-sale during the period 39.7 (8.4) 31.3 Adjustments for assumed changes in amortization patterns (5.3) 1.1 (4.2) Adjustments for assumed changes in policyholder liabilities (0.8) 0.1 (0.7) Noncredit component of impairment losses on fixed maturities, available-for-sale (2) 33.6 (7.2) 26.4 Net unrealized gains on derivative instruments during the period 50.4 (3.4) 47.0 Reclassification adjustment for gains included in net income (3) (40.1) 4.2 (35.9) Adjustments for assumed changes in amortization patterns 0.3 (0.1) 0.2 Adjustments for assumed changes in policyholder liabilities 5.7 (1.0) 4.7 Net unrealized gains on derivative instruments 16.3 (0.3) 16.0 Foreign currency translation adjustment (303.9) 16.3 (287.6) Unrecognized postretirement benefit obligation during the period (125.3) 29.4 (95.9) Amortization of amounts included in net periodic benefit cost (5) 49.0 (14.0) 35.0 Net unrecognized postretirement benefit obligation (76.3) 15.4 (60.9) Other comprehensive loss $ (2,258.6) $ 422.9 $ (1,835.7) For the year ended December 31, 2017 Pre-Tax Tax After-Tax (in millions) Net unrealized gains on available-for-sale securities during the period $ 1,074.2 $ (341.6) $ 732.6 Reclassification adjustment for losses included in net income (1) 67.8 (23.5) 44.3 Adjustments for assumed changes in amortization patterns (26.2) 9.3 (16.9) Adjustments for assumed changes in policyholder liabilities (184.6) 64.1 (120.5) Net unrealized gains on available-for-sale securities 931.2 (291.7) 639.5 Noncredit component of impairment losses on fixed maturities, available-for-sale during the period 53.1 (17.0) 36.1 Adjustments for assumed changes in amortization patterns (6.4) 2.3 (4.1) Adjustments for assumed changes in policyholder liabilities (1.3) 0.5 (0.8) Noncredit component of impairment losses on fixed maturities, available-for-sale (2) 45.4 (14.2) 31.2 Net unrealized losses on derivative instruments during the period (46.7) 16.0 (30.7) Reclassification adjustment for gains included in net income (3) (31.6) 10.8 (20.8) Adjustments for assumed changes in amortization patterns 3.9 (1.3) 2.6 Adjustments for assumed changes in policyholder liabilities 9.6 (3.3) 6.3 Net unrealized losses on derivative instruments (64.8) 22.2 (42.6) Foreign currency translation adjustment during the period 171.6 4.7 176.3 Reclassification adjustment for losses included in net income (4) 2.6 — 2.6 Foreign currency translation adjustment 174.2 4.7 178.9 Unrecognized postretirement benefit obligation during the period 24.0 (3.8) 20.2 Amortization of amounts included in net periodic benefit cost (5) 31.1 (14.0) 17.1 Net unrecognized postretirement benefit obligation 55.1 (17.8) 37.3 Other comprehensive income $ 1,141.1 $ (296.8) $ 844.3 For the year ended December 31, 2016 Pre-Tax Tax After-Tax (in millions) Net unrealized gains on available-for-sale securities during the period $ 254.6 $ (78.1) $ 176.5 Reclassification adjustment for losses included in net income (1) 67.9 (23.5) 44.4 Adjustments for assumed changes in amortization patterns 5.6 (2.0) 3.6 Adjustments for assumed changes in policyholder liabilities (177.2) 51.8 (125.4) Net unrealized gains on available-for-sale securities 150.9 (51.8) 99.1 Noncredit component of impairment losses on fixed maturities, available-for-sale during the period (0.3) (1.5) (1.8) Adjustments for assumed changes in amortization patterns (3.4) 1.2 (2.2) Adjustments for assumed changes in policyholder liabilities 0.8 (0.3) 0.5 Noncredit component of impairment losses on fixed maturities, available-for-sale (2) (2.9) (0.6) (3.5) Net unrealized gains on derivative instruments during the period 32.6 (7.6) 25.0 Reclassification adjustment for gains included in net income (3) (27.7) 5.4 (22.3) Adjustments for assumed changes in amortization patterns 2.9 (1.0) 1.9 Adjustments for assumed changes in policyholder liabilities 16.9 (6.0) 10.9 Net unrealized gains on derivative instruments 24.7 (9.2) 15.5 Foreign currency translation adjustment 75.6 (7.5) 68.1 Unrecognized postretirement benefit obligation during the period 20.2 (6.8) 13.4 Amortization of amounts included in net periodic benefit cost (5) 49.1 (20.7) 28.4 Net unrecognized postretirement benefit obligation 69.3 (27.5) 41.8 Other comprehensive income $ 317.6 $ (96.6) $ 221.0 (1) Pre-tax reclassification adjustments relating to available-for-sale securities are reported in net realized capital gains (losses) on the consolidated statements of operations. (2) Represents the net impact of (1) unrealized gains resulting from reclassification of previously recognized noncredit impairment losses from OCI to net realized capital gains (losses) for fixed maturities with bifurcated OTTI that had additional credit losses or fixed maturities that previously had bifurcated OTTI that have now been sold or are intended to be sold and (2) unrealized losses resulting from reclassification of noncredit impairment losses for fixed maturities with bifurcated OTTI from net realized capital gains (losses) to OCI. (3) See Note 5, Derivative Financial Instruments – Cash Flow Hedges, for further details. (4) Pre-tax reclassification adjustments relating to deconsolidated sponsored investment funds are reported in net realized capital gains (losses) on the consolidated statements of operations. $2.0 million of this reclassification relates to noncontrolling interest and is reported in net income attributable to noncontrolling interest on the consolidated statements of operations. (5) Amount is comprised of amortization of prior service cost (benefit) and recognized net actuarial (gain) loss, which is reported in operating expenses on the consolidated statements of operations. See Note 11, Employee and Agent Benefits – Components of Net Periodic Benefit Cost, for further details.
Accumulated Other Comprehensive Income (Loss) (Table)	Noncredit Net unrealized component of Net unrealized Foreign Unrecognized Accumulated gains on impairment losses gains currency postretirement other available-for-sale on fixed maturities on derivative translation benefit comprehensive securities available-for-sale instruments adjustment obligation income (loss) (in millions) Balances as of January 1, 2016 $ 732.1 $ (86.0) $ 69.8 $ (1,148.2) $ (450.2) $ (882.5) Other comprehensive income during the period, net of adjustments 54.7 (3.5) 37.8 63.7 13.4 166.1 Amounts reclassified from AOCI 44.4 — (22.3) — 28.4 50.5 Other comprehensive income 99.1 (3.5) 15.5 63.7 41.8 216.6 Purchase of subsidiary shares from noncontrolling interest — — — (9.3) — (9.3) Balances as of December 31, 2016 831.2 (89.5) 85.3 (1,093.8) (408.4) (675.2) Other comprehensive income during the period, net of adjustments 595.2 — (21.8) 174.7 20.2 768.3 Amounts reclassified from AOCI 44.3 31.2 (20.8) 0.6 17.1 72.4 Other comprehensive income 639.5 31.2 (42.6) 175.3 37.3 840.7 Balances as of December 31, 2017 1,470.7 (58.3) 42.7 (918.5) (371.1) 165.5 Other comprehensive loss during the period, net of adjustments (1,580.6) — 51.9 (283.2) (95.9) (1,907.8) Amounts reclassified from AOCI 51.1 26.4 (35.9) — 35.0 76.6 Other comprehensive loss (1,529.5) 26.4 16.0 (283.2) (60.9) (1,831.2) Purchase of subsidiary shares from noncontrolling interest — — — (1.6) — (1.6) Effects of implementation of accounting change related to equity investments, net (1.0) — — — — (1.0) Effects of implementation of accounting change accounting change related to revenue recognition, net — — — 25.6 — 25.6 Effects of implementation of accounting change related to the reclassification of certain tax effects, net 249.8 (15.2) 5.7 (81.8) (80.9) 77.6 Balances as of December 31, 2018 $ 190.0 $ (47.1) $ 64.4 $ (1,259.5) $ (512.9) $ (1,565.1)
Redeemable Noncontrolling Interest (Table)	For the year ended December 31, 2018 2017 2016 (in millions) Beginning balance $ 101.3 $ 97.5 $ 85.7 Net income (loss) attributable to redeemable noncontrolling interest (2.1) 7.0 16.8 Redeemable noncontrolling interest of newly consolidated entities (1) — — 179.5 Redeemable noncontrolling interest of deconsolidated entities (2) (10.6) (61.1) (261.5) Contributions from redeemable noncontrolling interest 355.0 94.1 135.1 Distributions to redeemable noncontrolling interest (36.8) (39.0) (57.4) Purchase of subsidiary shares from redeemable noncontrolling interest (7.1) (4.4) (8.2) Change in redemption value of redeemable noncontrolling interest (7.0) 5.9 4.2 Stock-based compensation attributable to redeemable noncontrolling interest 0.1 — — Other comprehensive income (loss) attributable to redeemable noncontrolling interest (1.6) 1.3 3.3 Ending balance $ 391.2 $ 101.3 $ 97.5 (1) Effective January 1, 2016, certain sponsored investment funds were consolidated as a result of the implementation of new accounting guidance. (2) We deconsolidated certain sponsored investment funds as they no longer met the requirements for consolidation.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2018
Fair Value Measurements
Fair Value (Table)	December 31, 2018 Assets/ Amount (liabilities) measured at measured at net asset Fair value hierarchy level fair value value (4) Level 1 Level 2 Level 3 (in millions) Assets Fixed maturities, available-for-sale: U.S. government and agencies $ 1,441.0 $ — $ 1,027.8 $ 413.2 $ — Non-U.S. governments 890.5 — 2.7 883.2 4.6 States and political subdivisions 6,225.7 — — 6,225.7 — Corporate 35,539.3 — 19.2 35,462.2 57.9 Residential mortgage-backed securities 2,460.6 — — 2,460.6 — Commercial mortgage-backed securities 3,945.6 — — 3,936.1 9.5 Collateralized debt obligations (1) 2,420.8 — — 2,412.5 8.3 Other debt obligations 7,185.0 — — 7,126.5 58.5 Total fixed maturities, available-for-sale 60,108.5 — 1,049.7 58,920.0 138.8 Fixed maturities, trading 636.1 — — 636.1 — Equity securities 1,843.7 — 661.2 1,182.5 — Derivative assets (2) 194.0 — — 175.4 18.6 Other investments 828.6 75.4 125.9 610.1 17.2 Cash equivalents 1,775.9 — 46.3 1,729.6 — Sub-total excluding separate account assets 65,386.8 75.4 1,883.1 63,253.7 174.6 Separate account assets 144,987.9 124.6 79,572.0 56,675.8 8,615.5 Total assets $ 210,374.7 $ 200.0 $ 81,455.1 $ 119,929.5 $ 8,790.1 Liabilities Investment contracts (3) $ (45.2) $ — $ — $ — $ (45.2) Derivative liabilities (2) (157.1) — — (141.6) (15.5) Other liabilities (3) (91.5) — — (91.5) — Total liabilities $ (293.8) $ — $ — $ (233.1) $ (60.7) Net assets $ 210,080.9 $ 200.0 $ 81,455.1 $ 119,696.4 $ 8,729.4 December 31, 2017 Assets/ Amount (liabilities) measured at measured at net asset Fair value hierarchy level fair value value (4) Level 1 Level 2 Level 3 (in millions) Assets Fixed maturities, available-for-sale: U.S. government and agencies $ 1,351.7 $ — $ 896.8 $ 454.9 $ — Non-U.S. governments 901.5 — 2.9 891.2 7.4 States and political subdivisions 6,801.6 — — 6,801.6 — Corporate 37,033.1 — 20.7 36,884.4 128.0 Residential mortgage-backed securities 2,523.3 — — 2,523.3 — Commercial mortgage-backed securities 3,708.3 — — 3,697.7 10.6 Collateralized debt obligations (1) 1,359.3 — — 1,234.3 125.0 Other debt obligations 5,709.6 — — 5,707.3 2.3 Total fixed maturities, available-for-sale 59,388.4 — 920.4 58,194.7 273.3 Fixed maturities, trading 566.0 — — 566.0 — Equity securities, available-for-sale 96.0 — 47.4 45.9 2.7 Equity securities, trading 1,770.6 — 544.0 1,226.6 — Derivative assets (2) 304.0 — — 279.8 24.2 Other investments 498.0 85.8 176.0 229.7 6.5 Cash equivalents 1,793.3 — 46.8 1,746.5 — Sub-total excluding separate account assets 64,416.3 85.8 1,734.6 62,289.2 306.7 Separate account assets 159,272.7 120.4 90,090.6 61,410.3 7,651.4 Total assets $ 223,689.0 $ 206.2 $ 91,825.2 $ 123,699.5 $ 7,958.1 Liabilities Investment contracts (3) $ (160.3) $ — $ — $ — $ (160.3) Derivative liabilities (2) (274.7) — — (268.6) (6.1) Other liabilities (3) (253.4) — — (253.4) — Total liabilities $ (688.4) $ — $ — $ (522.0) $ (166.4) Net assets $ 223,000.6 $ 206.2 $ 91,825.2 $ 123,177.5 $ 7,791.7 (1) Primarily consists of collateralized loan obligations backed by secured corporate loans. (2) Within the consolidated statements of financial position, derivative assets are reported with other investments and derivative liabilities are reported with other liabilities. The amounts are presented gross in the tables above to reflect the presentation on the consolidated statements of financial position; however, are presented net for purposes of the rollforward in the Changes in Level 3 Fair Value Measurements tables. Refer to Note 5, Derivative Financial Instruments, for further information on fair value by class of derivative instruments. (3) Includes bifurcated embedded derivatives that are reported at net asset (liability) fair value within the same line item in the consolidated statements of financial position in which the host contract is reported. (4) Certain investments are measured at fair value using the NAV per share (or its equivalent) practical expedient and have not been classified in the fair value hierarchy. Other investments using the NAV practical expedient consist of certain fund interests that are restricted until maturity with unfunded commitments totaling $32.0 million and $46.1 million as of December 31, 2018 and December 31, 2017, respectively. Separate account assets using the NAV practical expedient consist of hedge funds with varying investment strategies that also have a variety of redemption terms and conditions. We do not have unfunded commitments associated with these hedge funds.
Reconciliation for All Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Table)	For the year ended December 31, 2018 Changes in Beginning unrealized asset/ Total realized/unrealized Ending gains (losses) (liability) gains (losses) Net purchases, asset/ included in balance Included in sales, (liability) net income as of Included other issuances Transfers Transfers balance as of relating to December 31, in net comprehensive and into out of December 31, positions 2017 income (1) income (3) settlements (4) Level 3 Level 3 2018 still held (1) (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ 7.4 $ — $ (0.1) $ (1.4) $ — $ (1.3) $ 4.6 $ — Corporate 128.0 (1.0) (0.1) (15.2) 1.0 (54.8) 57.9 — Commercial mortgage-backed securities 10.6 (3.5) 0.2 0.1 3.6 (1.5) 9.5 (1.9) Collateralized debt obligations 125.0 (0.9) 0.2 66.3 54.7 (237.0) 8.3 (0.9) Other debt obligations 2.3 — (0.2) 147.4 — (91.0) 58.5 — Total fixed maturities, available-for-sale 273.3 (5.4) — 197.2 59.3 (385.6) 138.8 (2.8) Fixed maturities, trading — — — 3.7 — (3.7) — — Equity securities 2.7 12.9 — (15.6) — — — — Other investments 6.5 1.7 — 9.0 — — 17.2 1.7 Separate account assets (2) 7,651.4 869.5 (0.3) 133.7 2.3 (41.1) 8,615.5 829.8 Liabilities Investment contracts (160.3) 107.5 0.1 7.5 — — (45.2) 109.9 Derivatives Net derivative assets 18.1 (20.2) — 5.2 — — 3.1 (18.4) For the year ended December 31, 2017 Changes in Beginning unrealized asset/ Total realized/unrealized Ending gains (losses) (liability) gains (losses) Net purchases, asset/ included in balance Included in sales, (liability) net income as of Included other issuances Transfers Transfers balance as of relating to December 31, in net comprehensive and into out of December 31, positions 2016 income (1) income (3) settlements (4) Level 3 Level 3 2017 still held (1) (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ 62.1 $ (0.2) $ (0.3) $ (19.0) $ — $ (35.2) $ 7.4 $ (0.3) Corporate 259.1 (2.3) 3.5 (29.2) 22.2 (125.3) 128.0 (0.8) Commercial mortgage-backed securities 71.1 (12.7) 11.1 (0.7) 26.3 (84.5) 10.6 (4.0) Collateralized debt obligations 33.6 — 1.7 7.3 183.7 (101.3) 125.0 — Other debt obligations 91.5 — (0.2) (0.8) 0.1 (88.3) 2.3 — Total fixed maturities, available-for-sale 517.4 (15.2) 15.8 (42.4) 232.3 (434.6) 273.3 (5.1) Fixed maturities, trading 92.9 (2.4) — (92.4) 1.9 — — — Equity securities, available-for-sale 2.7 — — — — — 2.7 — Equity securities, trading — — — (0.7) 0.7 — — — Other investments 36.9 3.9 — (34.3) — — 6.5 3.8 Separate account assets (2) 7,354.8 798.1 (1.1) (464.8) 3.1 (38.7) 7,651.4 696.0 Liabilities Investment contracts (176.5) 8.4 0.4 7.4 — — (160.3) 5.7 Other liabilities (59.9) (0.1) — 60.0 — — — — Derivatives Net derivative assets 11.3 3.1 — 3.7 — — 18.1 4.9 For the year ended December 31, 2016 Changes in Beginning unrealized asset/ Total realized/unrealized Ending gains (losses) (liability) gains (losses) Net purchases, asset/ included in balance Included in sales, (liability) net income as of Included other issuances Transfers Transfers balance as of relating to December 31, in net comprehensive and into out of December 31, positions 2015 income (1) income (3) settlements (4) Level 3 Level 3 2016 still held (1) (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ 79.1 $ (0.3) $ 1.4 $ 14.5 $ — $ (32.6) $ 62.1 $ (0.3) Corporate 223.9 (2.2) (3.2) 26.6 15.7 (1.7) 259.1 (2.2) Commercial mortgage-backed securities 4.8 (8.3) 8.8 32.7 35.4 (2.3) 71.1 (8.3) Collateralized debt obligations 63.5 — 0.8 (30.7) — — 33.6 — Other debt obligations 7.5 — 0.5 100.1 — (16.6) 91.5 — Total fixed maturities, available-for-sale 378.8 (10.8) 8.3 143.2 51.1 (53.2) 517.4 (10.8) Fixed maturities, trading 135.5 0.5 — (43.1) — — 92.9 0.1 Equity securities, available-for-sale 4.1 (1.3) (0.1) — — — 2.7 (1.4) Other investments 35.1 1.5 — 0.3 — — 36.9 1.5 Separate account assets (2) 7,013.9 718.9 — (382.5) 5.3 (0.8) 7,354.8 669.7 Liabilities Investment contracts (177.4) (5.9) — 6.8 — — (176.5) (12.6) Other liabilities (68.1) (9.2) — 17.4 — — (59.9) (7.5) Derivatives Net derivative assets (liabilities) (3.3) 11.3 0.5 2.8 — — 11.3 10.4 (1) Both realized gains (losses) and mark-to-market unrealized gains (losses) are generally reported in net realized capital gains (losses) within the consolidated statements of operations. Realized and unrealized gains (losses) on certain securities with an investment objective to realize economic value through mark-to-market changes are reported in net investment income within the consolidated statements of operations. (2) Gains and losses for separate account assets do not impact net income as the change in value of separate account assets is offset by a change in value of separate account liabilities. Foreign currency translation adjustments related to the Principal International segment separate account assets are recorded in AOCI and are offset by foreign currency translation adjustments of the corresponding separate account liabilities. (3) Includes foreign currency translation adjustments related to our Principal International segment. (4) Gross purchases, sales, issuances and settlements were: For the year ended December 31, 2018 Net purchases, sales, issuances Purchases Sales Issuances Settlements and settlements (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ — $ — $ — $ (1.4) $ (1.4) Corporate 12.9 (10.1) — (18.0) (15.2) Commercial mortgage-backed securities — — — 0.1 0.1 Collateralized debt obligations 93.6 — — (27.3) 66.3 Other debt obligations 152.0 — — (4.6) 147.4 Total fixed maturities, available-for-sale 258.5 (10.1) — (51.2) 197.2 Fixed maturities, trading 3.7 — — — 3.7 Equity securities — (15.6) — — (15.6) Other investments 9.0 — — — 9.0 Separate account assets (5) 743.0 (608.4) (206.5) 205.6 133.7 Liabilities Investment contracts — — 2.8 4.7 7.5 Derivatives Net derivative assets (liabilities) 1.8 3.4 — — 5.2 For the year ended December 31, 2017 Net purchases, sales, issuances Purchases Sales Issuances Settlements and settlements (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ 67.4 $ (85.0) $ — $ (1.4) $ (19.0) Corporate 112.3 (89.4) — (52.1) (29.2) Commercial mortgage-backed securities — — — (0.7) (0.7) Collateralized debt obligations 22.9 — — (15.6) 7.3 Other debt obligations — — — (0.8) (0.8) Total fixed maturities, available-for-sale 202.6 (174.4) — (70.6) (42.4) Fixed maturities, trading — — — (92.4) (92.4) Equity securities, trading — — — (0.7) (0.7) Other investments 2.4 (36.7) — — (34.3) Separate account assets (5) 401.4 (651.4) (284.6) 69.8 (464.8) Liabilities Investment contracts — — (0.2) 7.6 7.4 Other liabilities — — — 60.0 60.0 Derivatives Net derivative assets (liabilities) 1.5 2.2 — — 3.7 For the year ended December 31, 2016 Net purchases, sales, issuances Purchases Sales Issuances Settlements and settlements (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ 19.3 $ (3.4) $ — $ (1.4) $ 14.5 Corporate 66.0 (13.7) — (25.7) 26.6 Commercial mortgage-backed securities 35.7 — — (3.0) 32.7 Collateralized debt obligations — — — (30.7) (30.7) Other debt obligations 105.0 (2.3) — (2.6) 100.1 Total fixed maturities, available-for-sale 226.0 (19.4) — (63.4) 143.2 Fixed maturities, trading — (18.0) — (25.1) (43.1) Other investments 0.7 (0.4) — — 0.3 Separate account assets (5) 528.0 (654.5) (345.4) 89.4 (382.5) Liabilities Investment contracts — — 1.8 5.0 6.8 Other liabilities — 17.4 — — 17.4 Derivatives Net derivative assets (liabilities) 0.5 2.3 — — 2.8 (5)
Transfers (Table)	For the year ended December 31, 2018 Transfers out Transfers out Transfers out Transfers out Transfers out Transfers out of Level 1 into of Level 1 into of Level 2 into of Level 2 into of Level 3 into of Level 3 into Level 2 Level 3 Level 1 Level 3 Level 1 Level 2 (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ — $ — $ — $ — $ — $ 1.3 Corporate — — — 1.0 — 54.8 Commercial mortgage-backed securities — — — 3.6 — 1.5 Collateralized debt obligations — — — 54.7 — 237.0 Other debt obligations — — — — — 91.0 Total fixed maturities, available-for-sale — — — 59.3 — 385.6 Fixed maturities, trading — — — — — 3.7 Separate account assets 293.2 — 0.8 2.3 0.2 40.9 For the year ended December 31, 2017 Transfers out Transfers out Transfers out Transfers out Transfers out Transfers out of Level 1 into of Level 1 into of Level 2 into of Level 2 into of Level 3 into of Level 3 into Level 2 Level 3 Level 1 Level 3 Level 1 Level 2 (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ — $ — $ — $ — $ — $ 35.2 Corporate — — — 22.2 — 125.3 Commercial mortgage-backed securities — — — 26.3 — 84.5 Collateralized debt obligations — — — 183.7 — 101.3 Other debt obligations — — — 0.1 — 88.3 Total fixed maturities, available-for-sale — — — 232.3 — 434.6 Fixed maturities, trading — — — 1.9 — — Equity securities, trading — — — 0.7 — — Separate account assets 12.5 — 5.9 3.1 — 38.7 For the year ended December 31, 2016 Transfers out Transfers out Transfers out Transfers out Transfers out Transfers out of Level 1 into of Level 1 into of Level 2 into of Level 2 into of Level 3 into of Level 3 into Level 2 Level 3 Level 1 Level 3 Level 1 Level 2 (in millions) Assets Fixed maturities, available-for- sale: Non-U.S. governments $ — $ — $ — $ — $ — $ 32.6 Corporate — — — 15.7 — 1.7 Commercial mortgage-backed securities — — — 35.4 — 2.3 Other debt obligations — — — — — 16.6 Total fixed maturities, available-for-sale — — — 51.1 — 53.2 Separate account assets 45.4 — 4.9 5.3 — 0.8
Quantitative Information about Level 3 Fair Value Measurements (Table)	December 31, 2018 Assets / (liabilities) measured at Valuation Unobservable Input/range of Weighted fair value technique(s) input description inputs average (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ 4.6 Discounted cash flow Discount rate (1) 3.2 % 3.2 % Illiquidity premium 50 basis points ("bps") 50 bps Comparability adjustment (25) bps (25) bps Corporate 25.4 Discounted cash flow Discount rate (1) 3.3 % - 4.5 % 3.9 % Illiquidity premium 0 bps - 60 bps 36 bps Other debt obligations 1.7 Discounted cash flow Discount rate (1) 5.0 % 5.0 % Illiquidity premium 500 bps 500 bps Separate account assets 8,440.8 Discounted cash flow - mortgage loans Discount rate (1) 3.3 % - 4.7 % 4.2 % Illiquidity premium 0 bps - 60 bps 56 bps Credit spread rate 85 bps - 172 bps 168 bps Discounted cash flow - real estate Discount rate (1) 5.6 % - 11.5 % 6.7 % Terminal capitalization rate 4.3 % - 9.3 % 5.8 % Average market rent growth rate 2.0 % - 4.7 % 2.9 % Discounted cash flow - real estate debt Loan to value 11.0 % - 69.3 % 45.9 % Market interest rate 3.9 % - 6.0 % 4.3 % Liabilities Investment contracts (5) (45.2) Discounted cash flow Long duration interest rate 2.8 % - 2.9 % (2) Long-term equity market volatility 16.7 % - 27.8 % Non-performance risk 0.6 % - 1.6 % Utilization rate See note (3) Lapse rate 1.3 % - 16.0 % Mortality rate See note (4) December 31, 2017 Assets / (liabilities) measured at Valuation Unobservable Input/range of Weighted fair value technique(s) input description inputs average (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ 6.1 Discounted cash flow Discount rate (1) 2.7 % 2.7 % Illiquidity premium 50 bps 50 bps Comparability adjustment (25) bps (25) bps Corporate 51.0 Discounted cash flow Discount rate (1) 1.9 % - 7.5 % 4.6 % Illiquidity premium 0 bps - 60 bps 21 bps Commercial mortgage-backed securities 0.5 Discounted cash flow Discount rate (1) 6.0 % 6.0 % Probability of default 85.0 % 85.0 % Potential loss severity 32.0 % 32.0 % Other debt obligations 2.3 Discounted cash flow Discount rate (1) 5.0 % 5.0 % Illiquidity premium 500 bps 500 bps Separate account assets 7,484.6 Discounted cash flow - mortgage loans Discount rate (1) 2.3 % - 8.0 % 4.8 % Illiquidity premium 0 bps - 60 bps 17 bps Credit spread rate 62 bps - 690 bps 293 bps Discounted cash flow - real estate Discount rate (1) 5.8 % - 17.2 % 6.9 % Terminal capitalization rate 4.3 % - 9.3 % 6.1 % Average market rent growth rate 0.5 % - 4.7 % 2.9 % Discounted cash flow - real estate debt Loan to value 12.1 % - 71.4 % 45.8 % Market interest rate 3.1 % - 4.5 % 3.8 % Liabilities Investment contracts (5) (160.3) Discounted cash flow Long duration interest rate 2.5 % - 2.7 % (2) Long-term equity market volatility 18.7 % - 41.1 % Non-performance risk 0.2 % - 1.2 % Utilization rate See note (3) Lapse rate 1.3 % - 16.0 % Mortality rate See note (4) (1) Represents market comparable interest rate or an index adjusted rate used as the base rate in the discounted cash flow analysis prior to any illiquidity or other adjustments, where applicable. (2) Represents the range of rate curves used in the valuation analysis that we have determined market participants would use when pricing the instrument. Derived from interpolation between various observable swap rates. (3) This input factor is the number of contractholders taking withdrawals as well as the amount and timing of the withdrawals and a range does not provide a meaningful presentation. (4) This input is based on an appropriate industry mortality table and a range does not provide a meaningful presentation. (5) Includes bifurcated embedded derivatives that are reported at net asset (liability) fair value within the same line item in the consolidated statements of financial position in which the host contract is reported.
Fair Value Option (Table)	December 31, 2018 December 31, 2017 (in millions) Commercial mortgage loans of consolidated VIEs (1) (2) Fair value $ 6.4 $ Aggregate contractual principal 6.5 Real estate ventures (1) Fair value 17.2 Investment funds (1) Fair value — (1) Reported with other investments in the consolidated statements of financial position. (2) None of the loans were more than 90 days past due or in non-accrual status. For the year ended December 31, 2018 2017 2016 Commercial mortgage loans of consolidated VIEs Change in fair value pre-tax loss (1) (2) $ (0.2) $ (0.4) $ Interest income (3) 0.7 0.9 Obligations of consolidated VIEs Change in fair value pre-tax loss - instrument specific credit risk (2) (4) — (0.1) Change in fair value pre-tax loss (2) — (0.1) Interest expense (5) — 0.3 Real estate ventures Change in fair value pre-tax gain (6) 1.7 3.8 Investment funds Change in fair value pre-tax gain (6) (7) — 1.7 2.8 Dividend income (6) — 1.9 0.3 (1) None of the change in fair value related to instrument-specific credit risk. (2) Reported in net realized capital gains (losses) on the consolidated statements of operations. (3) Reported in net investment income on the consolidated statements of operations and recorded based on the effective interest rates as determined at the closing of the loan. (4) Estimated based on credit spreads and quality ratings. (5) Reported in operating expenses on the consolidated statements of operations. (6) Reported in net investment income on the consolidated statements of operations. (7) Absent the fair value election, the change in fair value on the investments would be reported in OCI.
Financial Instruments Not Reported at Fair Value (Table)	December 31, 2018 Fair value hierarchy level Carrying amount Fair value Level 1 Level 2 Level 3 (in millions) Assets (liabilities) Mortgage loans $ 15,336.9 $ 15,383.6 $ — $ — $ 15,383.6 Policy loans 801.4 965.5 — — 965.5 Other investments 247.4 239.8 — 157.5 82.3 Cash and cash equivalents 1,201.6 1,201.6 1,148.6 53.0 — Investment contracts (32,572.1) (31,428.2) — (4,085.7) (27,342.5) Short-term debt (42.9) (42.9) — (42.9) — Long-term debt (3,259.6) (3,257.1) — (3,129.3) (127.8) Separate account liabilities (132,562.9) (131,491.4) — — (131,491.4) Bank deposits (1) (500.0) (489.1) — (489.1) — Cash collateral payable (79.5) (79.5) (79.5) — — December 31, 2017 Fair value hierarchy level Carrying amount Fair value Level 1 Level 2 Level 3 (in millions) Assets (liabilities) Mortgage loans $ 14,150.5 $ 14,443.2 $ — $ — $ 14,443.2 Policy loans 808.3 998.4 — — 998.4 Other investments 236.8 234.0 — 159.4 74.6 Cash and cash equivalents 677.5 677.5 659.9 17.6 — Investment contracts (31,003.0) (30,468.8) — (4,736.1) (25,732.7) Short-term debt (39.5) (39.5) — (39.5) — Long-term debt (3,178.4) (3,442.5) — (3,393.5) (49.0) Separate account liabilities (145,552.5) (144,300.5) — — (144,300.5) Bank deposits (1) (2,336.4) (2,328.9) (1,780.3) (548.6) — Cash collateral payable (125.8) (125.8) (125.8) — — (1) Deposit liabilities without defined or contractual maturities are no longer in scope of these disclosures upon adoption of authoritative guidance effective January 1, 2018.

Statutory Insurance Financial_2

Statutory Insurance Financial Information (Tables)	12 Months Ended
	Dec. 31, 2018
Statutory Insurance Financial Information
Statutory Net Income and Statutory Capital and Surplus of Principal Life (Table)	As of or for the year ended December 31, 2018 2017 2016 (in millions) Statutory net income $ 1,017.6 $ 1,976.7 $ 996.7 Statutory capital and surplus 5,319.6 4,946.8 4,643.8

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2018
Segment Information
Reconciliation of Assets from Segment to Consolidated (Table)	December 31, 2018 December 31, 2017 (in millions) Assets: Retirement and Income Solutions $ 163,833.6 $ 169,757.8 Principal Global Investors 2,301.0 2,322.9 Principal International 46,701.2 51,684.0 U.S. Insurance Solutions 25,388.2 25,092.9 Corporate 4,812.1 5,083.6 Total consolidated assets $ 243,036.1 $ 253,941.2
Reconciliation of Operating Revenues and Pre-tax Operating Earnings (Losses) by Segment (Table)	For the year ended December 31, 2018 2017 2016 (in millions) Operating revenues by segment: Retirement and Income Solutions: Retirement and Income Solutions – Fee $ 1,831.0 $ 1,821.0 $ 1,743.2 Retirement and Income Solutions – Spread 5,454.9 5,344.6 4,407.5 Total Retirement and Income Solutions (1) 7,285.9 7,165.6 6,150.7 Principal Global Investors (2) 1,736.3 1,444.4 1,387.1 Principal International 1,372.9 1,251.5 1,252.0 U.S. Insurance Solutions: Specialty Benefits insurance 2,329.4 2,171.8 2,011.4 Individual Life insurance 1,751.7 1,731.0 1,626.1 Eliminations (0.2) (0.2) (0.2) Total U.S. Insurance Solutions 4,080.9 3,902.6 3,637.3 Corporate (51.2) (60.8) (46.3) Total segment operating revenues 14,424.8 13,703.3 12,380.8 Net realized capital gains (losses), net of related revenue adjustments (132.3) 472.2 80.9 Adjustments related to equity method investments (55.3) (82.3) (67.6) Total revenues per consolidated statements of operations $ 14,237.2 $ 14,093.2 $ 12,394.1 Pre-tax operating earnings (losses) by segment: Retirement and Income Solutions $ 880.6 $ 899.8 $ 794.5 Principal Global Investors 553.2 469.7 443.8 Principal International 255.7 330.0 288.1 U.S. Insurance Solutions 443.6 384.7 361.2 Corporate (178.6) (210.5) (218.9) Total segment pre-tax operating earnings 1,954.5 1,873.7 1,668.7 Pre-tax net realized capital gains (losses), as adjusted (3) (126.4) 520.3 46.3 Pre-tax other adjustments (4) — (70.0) (86.4) Adjustments related to equity method investments and noncontrolling interest (43.7) (71.8) (36.9) Income before income taxes per consolidated statements of operations $ 1,784.4 $ 2,252.2 $ 1,591.7 (1) Reflects inter-segment revenues of $393.6 million, $402.8 million and $373.3 million for the years ended December 31, 2018, 2017 and 2016, respectively. (2) Reflects inter-segment revenues of $262.8 million, $250.9 million and $235.7 million for the years ended December 31, 2018, 2017 and 2016, respectively. (3) Pre-tax net realized capital gains (losses), as adjusted, is derived as follows: For the year ended December 31, 2018 2017 2016 (in millions) Net realized capital gains (losses) $ (75.4) $ 524.2 $ 171.1 Derivative and hedging-related adjustments (64.9) (59.4) (94.1) Market value adjustments to fee revenues 0.1 (0.1) (2.5) Adjustments related to equity method investments (5.4) 1.4 0.1 Adjustments related to sponsored investment funds 12.9 6.3 6.1 Recognition of front-end fee revenue 0.4 (0.2) 0.2 Net realized capital gains (losses), net of related revenue adjustments (132.3) 472.2 80.9 Amortization of deferred acquisition costs and other actuarial balances (27.0) 55.0 (77.4) Capital (gains) losses distributed 14.4 (55.0) (7.2) Market value adjustments of embedded derivatives 18.5 48.1 50.0 Pre-tax net realized capital gains (losses), as adjusted (a) $ (126.4) $ 520.3 $ 46.3 (a) (4)
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated (Table)	For the year ended December 31, 2018 2017 2016 (in millions) Income tax expense (benefit) by segment: Retirement and Income Solutions $ 76.9 $ 109.5 $ 98.6 Principal Global Investors 147.2 181.9 166.8 Principal International 69.8 81.8 62.7 U.S. Insurance Solutions 80.7 124.2 118.8 Corporate (17.6) (102.3) (109.3) Total segment income taxes from operating earnings 357.0 395.1 337.6 Tax expense (benefit) related to net realized capital losses, as adjusted (71.4) 209.1 (6.6) Tax benefit related to other after-tax adjustments (1) — (594.5) (34.4) Certain adjustments related to equity method investments and noncontrolling interest (54.9) (82.0) (66.7) Total income taxes per consolidated statements of operations $ 230.7 $ (72.3) $ 229.9 (1) The 2017 tax benefit includes $568.3 million associated with the U.S. tax reform.
Reconciliation of Depreciation and Amortization Expense from Segments to Consolidated (Table)	For the year ended December 31, 2018 2017 2016 (in millions) Depreciation and amortization expense by segment: Retirement and Income Solutions $ 32.5 $ 30.6 $ 30.4 Principal Global Investors 21.9 19.8 18.8 Principal International 59.6 53.1 50.1 U.S. Insurance Solutions 26.2 28.1 26.8 Corporate 10.8 8.2 7.4 Total depreciation and amortization expense included in our consolidated statements of operations $ 151.0 $ 139.8 $ 133.5

Revenues from Contracts with _2

Revenues from Contracts with Customers (Tables)	12 Months Ended
	Dec. 31, 2018
Revenues from Contracts with Customers
Disaggregation of Revenues from Contracts with Customers (Table)	For the year ended December 31, 2018 2017 2016 (in millions) Revenue from contracts with customers by segment: Retirement and Income Solutions: Retirement and Income Solutions – Fee $ 252.4 $ 258.0 $ 259.1 Retirement and Income Solutions – Spread 10.5 10.2 8.8 Total Retirement and Income Solutions 262.9 268.2 267.9 Principal Global Investors 1,700.5 1,406.1 1,348.9 Principal International 477.1 426.4 398.7 U.S. Insurance Solutions: Specialty Benefits insurance 14.8 13.9 13.4 Individual Life insurance 42.4 36.4 36.6 Eliminations (0.2) (0.2) Total U.S. Insurance Solutions 57.0 50.1 49.8 Corporate 161.4 148.4 125.7 Total segment revenue from contracts with customers 2,658.9 2,299.2 2,191.0 Adjustments for fees and other revenues not within the scope of revenue recognition guidance (1) 1,614.4 1,593.4 1,438.7 Pre-tax other adjustments (2) 0.5 (0.3) Total fees and other revenues per consolidated statements of operations $ 4,273.8 $ 3,892.3 $ 3,627.4 (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, 2018 2017 2016 (in millions) Administrative service fee revenue $ 250.7 $ 256.4 $ 249.1 Other fee revenue 1.7 1.6 10.0 Total revenues from contracts with customers 252.4 258.0 259.1 Fees and other revenues not within the scope of revenue recognition guidance 1,132.9 1,111.2 1,021.5 Total fees and other revenues 1,385.3 1,369.2 1,280.6 Premiums and other considerations 4.0 3.8 0.3 Net investment income 441.7 448.0 462.3 Total operating revenues $ 1,831.0 $ 1,821.0 $ 1,743.2
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, 2018 2017 2016 (in millions) Deposit account fee revenue $ 10.5 $ 10.2 $ 8.8 Total revenues from contracts with customers 10.5 10.2 8.8 Fees and other revenues not within the scope of revenue recognition guidance 12.5 15.0 15.3 Total fees and other revenues 23.0 25.2 24.1 Premiums and other considerations 3,631.9 3,667.3 2,860.6 Net investment income 1,800.0 1,652.1 1,522.8 Total operating revenues $ 5,454.9 $ 5,344.6 $ 4,407.5
Principal Global Investors
Revenues from Contracts with Customers
Disaggregation of Revenues from Contracts with Customers (Table)	For the year ended December 31, 2018 2017 2016 (in millions) Management fee revenue $ 1,244.5 $ 1,217.0 $ 1,120.2 Other fee revenue (1) 456.0 189.1 228.7 Total revenues from contracts with customers 1,700.5 1,406.1 1,348.9 Fees and other revenues not within the scope of revenue recognition guidance 30.4 28.1 24.2 Total fees and other revenues 1,730.9 1,434.2 1,373.1 Net investment income 5.4 10.2 14.0 Total operating revenues $ 1,736.3 $ 1,444.4 $ 1,387.1 (1)
Principal International
Revenues from Contracts with Customers
Disaggregation of Revenues from Contracts with Customers (Table)	For the year ended December 31, 2018 2017 2016 (in millions) Management fee revenue $ 472.1 $ 414.6 $ 392.8 Other fee revenue 5.0 11.8 5.9 Total revenues from contracts with customers 477.1 426.4 398.7 Fees and other revenues not within the scope of revenue recognition guidance 7.3 7.1 8.7 Total fees and other revenues 484.4 433.5 407.4 Premiums and other considerations 317.2 218.0 274.6 Net investment income 571.3 600.0 570.0 Total operating revenues $ 1,372.9 $ 1,251.5 $ 1,252.0 Revenues from contracts with customers by region: Latin America $ 370.8 $ 318.9 $ 309.6 Asia 106.3 108.3 89.7 Principal International corporate / regional offices 0.9 0.7 0.9 Eliminations (0.9) (1.5) (1.5) Total revenues from contracts with customers $ 477.1 $ 426.4 $ 398.7
U.S. Insurance Solutions
Revenues from Contracts with Customers
Disaggregation of Revenues from Contracts with Customers (Table)	For the year ended December 31, 2018 2017 2016 (in millions) Specialty Benefits Insurance: Administrative service fees $ 14.8 $ 13.9 $ 13.4 Total revenues from contracts with customers 14.8 13.9 13.4 Fees and other revenues not within the scope of revenue recognition guidance 20.6 21.3 22.6 Total fees and other revenues 35.4 35.2 36.0 Premiums and other considerations 2,134.1 1,985.9 1,826.3 Net investment income 159.9 150.7 149.1 Total operating revenues $ 2,329.4 $ 2,171.8 $ 2,011.4 Individual Life Insurance: Administrative service fees $ 22.8 $ 21.5 $ 19.6 Commission income 19.6 14.9 17.0 Total revenues from contracts with customers 42.4 36.4 36.6 Fees and other revenues not within the scope of revenue recognition guidance 727.0 703.5 622.2 Total fees and other revenues 769.4 739.9 658.8 Premiums and other considerations 322.4 342.4 337.3 Net investment income 659.9 648.7 630.0 Total operating revenues $ 1,751.7 $ 1,731.0 $ 1,626.1
Corporate
Revenues from Contracts with Customers
Disaggregation of Revenues from Contracts with Customers (Table)	For the year ended December 31, 2018 2017 2016 (in millions) Commission income $ 316.1 $ 299.7 $ 279.3 Other fee revenue 35.4 30.1 23.9 Eliminations (190.1) (181.4) (177.5) Total revenues from contracts with customers 161.4 148.4 125.7 Fees and other revenues not within the scope of revenue recognition guidance (316.3) (292.8) (275.8) Total fees and other revenues (154.9) (144.4) (150.1) Net investment income 103.7 83.6 103.8 Total operating revenues $ (51.2) $ (60.8) $ (46.3)

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2018
Stock-Based Compensation Plans
Stock-Based Compensation Disclosures (Table)	For the year ended December 31, 2018 2017 2016 (in millions) Compensation cost $ 77.5 $ 80.6 $ 73.8 Related income tax benefit 16.7 27.1 21.5 Capitalized as part of an asset 1.9 2.5 2.8
Nonqualified Stock Options Status (Table)	Weighted- average Number of options exercise price Intrinsic value (in millions) (in millions) Options outstanding as of January 1, 2018 4.3 $ 42.65 Granted 0.8 63.98 Exercised 0.8 39.23 Expired 0.1 57.26 Options outstanding as of December 31, 2018 4.2 $ 46.77 $ 20.0 Options vested or expected to vest as of December 31, 2018 4.2 $ 46.74 $ 20.0 Options exercisable as of December 31, 2018 2.8 $ 41.43 $ 17.5
Nonqualified Stock Options Remaining Contractual Lives and Range of Exercise Prices (Table)	Weighted- Number of options average remaining Range of exercise prices outstanding contractual life (in millions) $11.07 - $21.69 0.1 0.1 $21.70 - $32.32 0.7 3.5 $32.33 - $42.95 1.0 6.4 $42.96 - $53.58 1.0 5.7 $53.59 - $64.22 1.4 8.7 $11.07 - $64.22 4.2
Nonqualified Stock Options Fair Value (Table)	For the year ended December 31, Options 2018 2017 2016 Expected volatility 26.0 % 27.6 % 31.7 % Expected term (in years) 7.0 7.0 6.5 Risk-free interest rate 2.8 % 2.2 % 1.5 % Expected dividend yield 3.19 % 2.87 % 4.07 % Weighted average estimated fair value $ 14.85 $ 15.31 $ 8.91
Nonvested Performance Share Awards Activity (Table)	Number of Weighted- performance average grant-date share awards fair value (in millions) Nonvested performance share awards as of January 1, 2018 0.8 $ 48.82 Granted 0.2 63.98 Vested 0.4 51.33 Nonvested performance share awards as of December 31, 2018 0.6 $ 52.50
Nonvested Restricted Stock Units Activity (Table)	Number of Weighted- restricted average grant-date stock units fair value (in millions) Nonvested restricted stock units as of January 1, 2018 2.8 $ 48.70 Granted 0.8 63.68 Vested 0.8 51.63 Canceled 0.1 51.90 Nonvested restricted stock units as of December 31, 2018 2.7 $ 52.17

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2018
Earnings Per Common Share
Earnings Per Common Share (Table)	For the year ended December 31, 2018 2017 2016 (in millions, except per share data) Net income $ 1,553.7 $ 2,324.5 $ 1,361.8 Subtract: Net income attributable to noncontrolling interest 7.2 14.1 45.3 Total $ 1,546.5 $ 2,310.4 $ 1,316.5 Weighted-average shares outstanding: Basic 285.8 288.9 289.4 Dilutive effects: Stock options 1.0 2.0 1.3 Restricted stock units 1.7 2.0 1.7 Performance share awards 0.3 0.2 0.3 Diluted 288.8 293.1 292.7 Net income per common share: Basic $ 5.41 $ 8.00 $ 4.55 Diluted $ 5.36 $ 7.88 $ 4.50

Quarterly Results of Operatio_2

Quarterly Results of Operations (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2018
Quarterly Results of Operations (Unaudited)
Quarterly Results of Operations (Table)	For the three months ended , December 31, September 30, June 30, March 31, (in millions, except per share data) 2018 Total revenues $ 3,770.6 $ 4,348.1 $ 3,234.9 $ 2,883.6 Total expenses 3,527.7 3,779.0 2,719.5 2,426.6 Net income 231.7 460.0 459.5 402.5 Net income attributable to PFG 236.5 456.3 456.6 397.1 Basic earnings per common share 0.84 1.60 1.59 1.37 Diluted earnings per common share 0.83 1.59 1.58 1.36 2017 Total revenues $ 3,237.7 $ 4,627.8 $ 3,178.3 $ 3,049.4 Total expenses 2,922.9 3,470.0 2,812.7 2,635.4 Net income 842.9 813.2 314.8 353.6 Net income attributable to PFG 841.8 810.2 309.5 348.9 Basic earnings per common share 2.91 2.80 1.07 1.21 Diluted earnings per common share 2.87 2.76 1.06 1.19

Condensed Consolidating Finan_2

Condensed Consolidating Financial Information (Tables)	12 Months Ended
	Dec. 31, 2018
Condensed Consolidating Financial Information
Condensed Consolidating Financial Information, Notes Guarantor (Table)	Condensed Consolidating Statements of Financial Position December 31, 2018 Principal Principal Life Principal Financial Principal Financial Insurance Services, Inc. and Financial Group, Inc. Company Other Subsidiaries Group, Inc. Parent Only Only Combined (1) Eliminations Consolidated (in millions) Assets Fixed maturities, available-for-sale $ 211.5 $ 53,401.7 $ 6,857.9 $ (362.6) $ 60,108.5 Fixed maturities, trading 308.9 165.5 161.7 — 636.1 Equity securities — 84.8 1,758.9 — 1,843.7 Mortgage loans — 14,478.0 1,615.5 (756.6) 15,336.9 Real estate — 1.9 1,727.8 — 1,729.7 Policy loans — 755.9 45.5 — 801.4 Investment in unconsolidated entities 13,862.4 2,324.4 6,853.8 (22,171.8) 868.8 Other investments 10.7 5,549.1 2,517.6 (4,635.9) 3,441.5 Cash and cash equivalents 334.9 1,323.9 2,014.8 (696.1) 2,977.5 Accrued investment income 1.4 563.2 77.5 (5.9) 636.2 Premiums due and other receivables — 1,818.1 3,781.3 (4,186.3) 1,413.1 Deferred acquisition costs — 3,680.2 13.3 — 3,693.5 Property and equipment — 661.3 106.0 — 767.3 Goodwill — 54.3 1,045.7 — 1,100.0 Other intangibles — 19.7 1,295.4 — 1,315.1 Separate account assets — 107,343.0 37,644.9 — 144,987.9 Other assets 375.0 1,135.1 4,418.3 (4,549.5) 1,378.9 Total assets $ 15,104.8 $ 193,360.1 $ 71,935.9 $ (37,364.7) $ 243,036.1 Liabilities Contractholder funds $ — $ 36,861.7 $ 3,189.2 $ (351.2) $ 39,699.7 Future policy benefits and claims — 30,690.3 6,128.6 (1,154.1) 35,664.8 Other policyholder funds — 725.7 165.3 (2.6) 888.4 Short-term debt — — 42.9 — 42.9 Long-term debt 3,129.8 — 851.2 (721.4) 3,259.6 Income taxes currently payable — — 80.7 (55.4) 25.3 Deferred income taxes — 405.3 1,056.4 (503.3) 958.4 Separate account liabilities — 107,343.0 37,644.9 — 144,987.9 Other liabilities 585.0 8,503.2 8,586.5 (12,012.8) 5,661.9 Total liabilities 3,714.8 184,529.2 57,745.7 (14,800.8) 231,188.9 Redeemable noncontrolling interest — — 391.2 — 391.2 Stockholders' equity Common stock 4.8 2.5 — (2.5) 4.8 Additional paid-in capital 10,060.7 6,331.6 9,461.2 (15,792.8) 10,060.7 Retained earnings 10,290.2 2,441.2 5,855.0 (8,296.2) 10,290.2 Accumulated other comprehensive income (loss) (1,565.1) 55.6 (1,583.2) 1,527.6 (1,565.1) Treasury stock, at cost (7,400.6) — — — (7,400.6) Total stockholders' equity attributable to PFG 11,390.0 8,830.9 13,733.0 (22,563.9) 11,390.0 Noncontrolling interest — — 66.0 — 66.0 Total stockholders’ equity 11,390.0 8,830.9 13,799.0 (22,563.9) 11,456.0 Total liabilities and stockholders' equity $ 15,104.8 $ 193,360.1 $ 71,935.9 $ (37,364.7) $ 243,036.1 (1) PFG sponsors nonqualified benefit plans. Nonqualified benefit plan assets and liabilities held in Rabbi trusts were $671.7 million and $542.4 million, respectively. Condensed Consolidating Statements of Financial Position December 31, 2017 Principal Principal Life Principal Financial Principal Financial Insurance Services, Inc. and Financial Group, Inc. Company Other Subsidiaries Group, Inc. Parent Only Only Combined (1) Eliminations Consolidated (in millions) Assets Fixed maturities, available-for-sale $ — $ 52,632.1 $ 7,120.3 $ (364.0) $ 59,388.4 Fixed maturities, trading 351.8 49.1 165.1 — 566.0 Equity securities — 100.1 1,766.5 — 1,866.6 Mortgage loans — 13,389.6 1,449.6 (688.7) 14,150.5 Real estate — 3.0 1,733.7 — 1,736.7 Policy loans — 765.7 42.6 — 808.3 Investment in unconsolidated entities 15,063.2 2,658.2 7,491.4 (24,392.2) 820.6 Other investments 10.2 4,986.0 2,231.9 (4,462.5) 2,765.6 Cash and cash equivalents 842.8 426.7 1,526.4 (325.1) 2,470.8 Accrued investment income 1.1 538.8 77.7 (7.0) 610.6 Premiums due and other receivables — 1,720.1 3,362.4 (3,612.7) 1,469.8 Deferred acquisition costs — 3,331.5 209.2 — 3,540.7 Property and equipment — 653.3 106.2 — 759.5 Goodwill — 54.3 1,014.5 — 1,068.8 Other intangibles — 21.6 1,293.1 — 1,314.7 Separate account assets — 117,300.8 41,971.9 — 159,272.7 Other assets 389.7 1,177.5 4,346.0 (4,582.3) 1,330.9 Total assets $ 16,658.8 $ 199,808.4 $ 75,908.5 $ (38,434.5) $ 253,941.2 Liabilities Contractholder funds $ — $ 35,330.2 $ 3,092.8 $ (340.5) $ 38,082.5 Future policy benefits and claims — 27,794.0 6,155.0 (929.7) 33,019.3 Other policyholder funds — 794.5 128.6 (0.8) 922.3 Short-term debt — — 39.5 — 39.5 Long-term debt 3,128.1 — 710.4 (660.1) 3,178.4 Income taxes currently payable — — 166.2 (149.5) 16.7 Deferred income taxes — 731.6 986.9 (626.0) 1,092.5 Separate account liabilities — 117,300.8 41,971.9 — 159,272.7 Other liabilities 681.4 7,910.9 7,533.6 (10,831.8) 5,294.1 Total liabilities 3,809.5 189,862.0 60,784.9 (13,538.4) 240,918.0 Redeemable noncontrolling interest — — 101.3 — 101.3 Stockholders' equity Common stock 4.7 2.5 — (2.5) 4.7 Additional paid-in capital 9,925.2 6,346.0 9,053.5 (15,399.5) 9,925.2 Retained earnings 9,482.9 2,238.1 5,311.7 (7,549.8) 9,482.9 Accumulated other comprehensive income 165.5 1,359.8 579.4 (1,939.2) 165.5 Treasury stock, at cost (6,729.0) — — — (6,729.0) Total stockholders' equity attributable to PFG 12,849.3 9,946.4 14,944.6 (24,891.0) 12,849.3 Noncontrolling interest — — 77.7 (5.1) 72.6 Total stockholders’ equity 12,849.3 9,946.4 15,022.3 (24,896.1) 12,921.9 Total liabilities and stockholders' equity $ 16,658.8 $ 199,808.4 $ 75,908.5 $ (38,434.5) $ 253,941.2 (1) PFG sponsors nonqualified benefit plans. Nonqualified benefit plan assets and liabilities held in Rabbi trusts were $643.3 million and $524.7 million, respectively. Condensed Consolidating Statements of Operations For the year ended December 31, 2018 Principal Principal Life Principal Financial Principal Financial Insurance Services, Inc. and Financial Group, Inc. Company Other Subsidiaries Group, Inc. Parent Only Only Combined Eliminations Consolidated (in millions) Revenues Premiums and other considerations $ — $ 5,846.0 $ 563.6 $ — $ 6,409.6 Fees and other revenues — 2,174.4 2,487.0 (387.6) 4,273.8 Net investment income 25.8 2,655.7 2,192.6 (1,244.9) 3,629.2 Net realized capital gains (losses), excluding impairment losses on available-for-sale securities (8.2) 118.8 (175.1) 18.2 (46.3) Net other-than-temporary impairment losses on available-for-sale securities — 14.1 (3.5) — 10.6 Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified to (from) other comprehensive income — (40.1) 0.4 — (39.7) Net impairment losses on available-for-sale securities — (26.0) (3.1) — (29.1) Net realized capital gains (losses) (8.2) 92.8 (178.2) 18.2 (75.4) Total revenues 17.6 10,768.9 5,065.0 (1,614.3) 14,237.2 Expenses Benefits, claims and settlement expenses — 7,346.3 857.1 (10.9) 8,192.5 Dividends to policyholders — 123.6 — — 123.6 Operating expenses 191.9 2,320.1 1,982.7 (358.0) 4,136.7 Total expenses 191.9 9,790.0 2,839.8 (368.9) 12,452.8 Income (loss) before income taxes (174.3) 978.9 2,225.2 (1,245.4) 1,784.4 Income taxes (benefits) (62.5) 60.0 235.0 (1.8) 230.7 Equity in the net income (loss) of subsidiaries 1,658.3 334.7 (335.3) (1,657.7) — Net income 1,546.5 1,253.6 1,654.9 (2,901.3) 1,553.7 Net income attributable to noncontrolling interest — — 7.2 — 7.2 Net income attributable to PFG $ 1,546.5 $ 1,253.6 $ 1,647.7 $ (2,901.3) $ 1,546.5 Net income $ 1,546.5 $ 1,253.6 $ 1,654.9 $ (2,901.3) $ 1,553.7 Other comprehensive loss (1,824.5) (1,548.5) (1,928.5) 3,465.8 (1,835.7) Comprehensive loss $ (278.0) $ (294.9) $ (273.6) $ 564.5 $ (282.0) Condensed Consolidating Statements of Operations For the year ended December 31, 2017 Principal Principal Life Principal Financial Principal Financial Insurance Services, Inc. and Financial Group, Inc. Company Other Subsidiaries Group, Inc. Parent Only Only Combined Eliminations Consolidated (in millions) Revenues Premiums and other considerations $ — $ 5,777.7 $ 439.7 $ — $ 6,217.4 Fees and other revenues 7.8 2,140.9 2,163.4 (419.8) 3,892.3 Net investment income 9.7 2,533.1 3,180.9 (2,264.4) 3,459.3 Net realized capital gains (losses), excluding impairment losses on available-for-sale securities (0.6) (84.5) 691.8 (0.7) 606.0 Net other-than-temporary impairment losses recoveries on available-for-sale securities — (28.2) (0.5) — (28.7) Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified from other comprehensive income — (46.4) (6.7) — (53.1) Net impairment losses on available-for-sale securities — (74.6) (7.2) — (81.8) Net realized capital gains (losses) (0.6) (159.1) 684.6 (0.7) 524.2 Total revenues 16.9 10,292.6 6,468.6 (2,684.9) 14,093.2 Expenses Benefits, claims and settlement expenses — 7,153.5 679.9 (10.8) 7,822.6 Dividends to policyholders — 124.6 — — 124.6 Operating expenses 238.1 2,185.4 1,823.2 (352.9) 3,893.8 Total expenses 238.1 9,463.5 2,503.1 (363.7) 11,841.0 Income (loss) before income taxes (221.2) 829.1 3,965.5 (2,321.2) 2,252.2 Income taxes (benefits) 63.1 (540.1) 376.4 28.3 (72.3) Equity in the net income (loss) of subsidiaries (1) 2,594.7 901.5 (1,005.3) (2,490.9) — Net income 2,310.4 2,270.7 2,583.8 (4,840.4) 2,324.5 Net income attributable to noncontrolling interest — — 14.1 — 14.1 Net income attributable to PFG $ 2,310.4 $ 2,270.7 $ 2,569.7 $ (4,840.4) $ 2,310.4 Net income $ 2,310.4 $ 2,270.7 $ 2,583.8 $ (4,840.4) $ 2,324.5 Other comprehensive income 840.3 611.6 877.6 (1,485.2) 844.3 Comprehensive income $ 3,150.7 $ 2,882.3 $ 3,461.4 $ (6,325.6) $ 3,168.8 (1) Principal Life Insurance Company Only includes income from discontinued operations of $35.5 million related to its sale of Principal Global Investors, LLC to PFS in connection with a corporate reorganization. Condensed Consolidating Statements of Operations For the year ended December 31, 2016 Principal Principal Life Principal Financial Principal Financial Insurance Services, Inc. and Financial Group, Inc. Company Other Subsidiaries Group, Inc. Parent Only Only Combined Eliminations Consolidated (in millions) Revenues Premiums and other considerations $ — $ 4,869.0 $ 430.1 $ — $ 5,299.1 Fees and other revenues — 1,956.1 2,061.1 (389.8) 3,627.4 Net investment income 3.4 2,300.2 2,004.7 (1,011.8) 3,296.5 Net realized capital gains, excluding impairment losses on available-for-sale securities — 210.4 48.1 11.0 269.5 Net other-than-temporary impairment losses on available-for-sale securities — (92.2) (6.6) — (98.8) Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified to (from) other comprehensive income — (3.0) 3.4 — 0.4 Net impairment losses on available-for-sale securities — (95.2) (3.2) — (98.4) Net realized capital gains — 115.2 44.9 11.0 171.1 Total revenues 3.4 9,240.5 4,540.8 (1,390.6) 12,394.1 Expenses Benefits, claims and settlement expenses — 6,177.9 746.3 (11.0) 6,913.2 Dividends to policyholders — 156.6 — — 156.6 Operating expenses 312.3 2,113.9 1,629.7 (323.3) 3,732.6 Total expenses 312.3 8,448.4 2,376.0 (334.3) 10,802.4 Income (loss) before income taxes (308.9) 792.1 2,164.8 (1,056.3) 1,591.7 Income taxes (benefits) (134.9) 97.9 270.0 (3.1) 229.9 Equity in the net income (loss) of subsidiaries (1) 1,490.5 395.9 (366.0) (1,520.4) — Net income 1,316.5 1,090.1 1,528.8 (2,573.6) 1,361.8 Net income attributable to noncontrolling interest — — 45.3 — 45.3 Net income attributable to PFG $ 1,316.5 $ 1,090.1 $ 1,483.5 $ (2,573.6) $ 1,316.5 Net income $ 1,316.5 $ 1,090.1 $ 1,528.8 $ (2,573.6) $ 1,361.8 Other comprehensive income 218.8 $ 116.5 $ 218.1 $ (332.4) $ 221.0 Comprehensive income $ 1,535.3 $ 1,206.6 $ 1,746.9 $ (2,906.0) $ 1,582.8 (1) Principal Life Insurance Company Only includes income from discontinued operations of $132.6 million related to its sale of Principal Global Investors, LLC to PFS in connection with a corporate reorganization. Condensed Consolidating Statements of Cash Flows For the year ended December 31, 2018 Principal Principal Life Principal Financial Principal Financial Insurance Services, Inc. and Financial Group, Inc. Company Other Subsidiaries Group, Inc. Parent Only Only Combined Eliminations Consolidated (in millions) Operating activities Net cash provided by (used in) operating activities $ (132.4) $ 5,410.9 $ 473.1 $ (595.1) $ 5,156.5 Investing activities Fixed maturities available-for-sale and equity securities with intent to hold: Purchases (210.9) (11,457.5) (2,249.2) 7.8 (13,909.8) Sales — 2,557.9 1,255.2 — 3,813.1 Maturities 2.3 5,660.9 554.4 — 6,217.6 Mortgage loans acquired or originated — (3,060.0) (497.0) 109.5 (3,447.5) Mortgage loans sold or repaid — 1,967.4 297.8 (36.8) 2,228.4 Real estate acquired — — (88.1) — (88.1) Real estate sold — — 63.5 — 63.5 Net purchases of property and equipment (0.1) (50.5) (41.7) — (92.3) Purchase of interests in subsidiaries, net of cash acquired — — (184.7) — (184.7) Dividends and returns of capital received from unconsolidated entities 1,041.6 50.1 861.6 (1,953.3) — Net change in other investments (2.2) (626.1) 120.7 204.9 (302.7) Net cash provided by (used in) investing activities 830.7 (4,957.8) 92.5 (1,667.9) (5,702.5) Financing activities Issuance of common stock 64.0 — — — 64.0 Acquisition of treasury stock (671.6) — — — (671.6) Payments for financing element derivatives — (65.9) — — (65.9) Purchase of subsidiary shares from noncontrolling interest — — (31.1) — (31.1) Dividends to common stockholders (598.6) — — — (598.6) Issuance of long-term debt — — 178.9 (98.1) 80.8 Principal repayments of long-term debt — — (38.1) 36.8 (1.3) Net proceeds from short-term borrowings — — 8.5 — 8.5 Dividends and capital paid to parent — (861.6) (1,091.7) 1,953.3 — Investment contract deposits — 7,896.0 412.8 — 8,308.8 Investment contract withdrawals — (6,520.1) (69.5) — (6,589.6) Net increase in banking operation deposits — — 553.0 — 553.0 Other — (4.3) — — (4.3) Net cash provided by (used in) financing activities (1,206.2) 444.1 (77.2) 1,892.0 1,052.7 Net increase (decrease) in cash and cash equivalents (507.9) 897.2 488.4 (371.0) 506.7 Cash and cash equivalents at beginning of period 842.8 426.7 1,526.4 (325.1) 2,470.8 Cash and cash equivalents at end of period $ 334.9 $ 1,323.9 $ 2,014.8 $ (696.1) $ 2,977.5 Condensed Consolidating Statements of Cash Flows For the year ended December 31, 2017 Principal Principal Life Principal Financial Principal Financial Insurance Services, Inc. and Financial Group, Inc. Company Other Subsidiaries Group, Inc. Parent Only Only Combined Eliminations Consolidated (in millions) Operating activities Net cash provided by (used in) operating activities $ (443.2) $ 5,571.5 $ (2,114.7) $ 1,174.4 $ 4,188.0 Investing activities Fixed maturities available-for-sale and equity securities with intent to hold: Purchases — (12,054.5) (1,317.1) — (13,371.6) Sales — 1,005.3 425.1 (16.8) 1,413.6 Maturities — 7,894.7 848.5 — 8,743.2 Mortgage loans acquired or originated — (2,629.8) (448.1) 322.1 (2,755.8) Mortgage loans sold or repaid — 1,696.2 388.4 (212.6) 1,872.0 Real estate acquired — — (200.5) — (200.5) Real estate sold — — 481.9 — 481.9 Net purchases of property and equipment (0.1) (108.1) (56.6) — (164.8) Dividends and returns of capital received from unconsolidated entities 1,002.5 149.7 1,845.9 (2,998.1) — Net change in other investments (1.1) 281.9 155.4 (507.0) (70.8) Net cash provided by (used in) investing activities 1,001.3 (3,764.6) 2,122.9 (3,412.4) (4,052.8) Financing activities Issuance of common stock 162.5 — — — 162.5 Acquisition of treasury stock (220.4) — — — (220.4) Proceeds from financing element derivatives — 0.1 — — 0.1 Payments for financing element derivatives — (77.6) — — (77.6) Purchase of subsidiary shares from noncontrolling interest — — (16.2) 2.9 (13.3) Sale of subsidiary shares to noncontrolling interest — — 2.9 (2.9) — Dividends to common stockholders (540.0) — — — (540.0) Issuance of long-term debt — — 380.5 (377.7) 2.8 Principal repayments of long-term debt — — (269.9) 213.4 (56.5) Net repayments of short-term borrowings — — (15.5) — (15.5) Dividends and capital paid to parent — (1,845.9) (1,152.2) 2,998.1 — Investment contract deposits — 9,760.5 393.9 — 10,154.4 Investment contract withdrawals — (9,889.9) (24.7) — (9,914.6) Net increase in banking operation deposits — — 136.6 — 136.6 Other — (2.5) — — (2.5) Net cash used in financing activities (597.9) (2,055.3) (564.6) 2,833.8 (384.0) Net decrease in cash and cash equivalents (39.8) (248.4) (556.4) 595.8 (248.8) Cash and cash equivalents at beginning of period 882.6 675.1 2,082.8 (920.9) 2,719.6 Cash and cash equivalents at end of period $ 842.8 $ 426.7 $ 1,526.4 $ (325.1) $ 2,470.8 Condensed Consolidating Statements of Cash Flows For the year ended December 31, 2016 Principal Principal Life Principal Financial Principal Financial Insurance Services, Inc. and Financial Group, Inc. Company Other Subsidiaries Group, Inc. Parent Only Only Combined Eliminations Consolidated (in millions) Operating activities Net cash provided by (used in) operating activities $ (188.6) $ 3,657.5 $ 1,601.1 $ (1,212.2) $ 3,857.8 Investing activities Fixed maturities available-for-sale and equity securities with intent to hold: Purchases — (12,771.1) (1,005.8) 13.1 (13,763.8) Sales — 1,312.7 577.8 — 1,890.5 Maturities — 7,097.4 645.4 — 7,742.8 Mortgage loans acquired or originated — (2,615.7) (333.5) 60.2 (2,889.0) Mortgage loans sold or repaid — 1,843.6 274.7 (49.6) 2,068.7 Real estate acquired — — (109.7) — (109.7) Real estate sold — 3.5 32.0 — 35.5 Net purchases of property and equipment (0.1) (113.2) (41.6) — (154.9) Dividends and returns of capital received from unconsolidated entities 1,295.3 3.1 1,195.0 (2,493.4) — Net change in other investments 1.3 314.2 (954.8) 665.3 26.0 Net cash provided by (used in) investing activities 1,296.5 (4,925.5) 279.5 (1,804.4) (5,153.9) Financing activities Issuance of common stock 37.8 — — — 37.8 Acquisition of treasury stock (277.3) — — — (277.3) Proceeds from financing element derivatives — 0.4 — — 0.4 Payments for financing element derivatives — (87.7) — — (87.7) Excess tax benefits from share-based payment arrangements 0.7 4.7 6.6 — 12.0 Purchase of subsidiary shares from noncontrolling interest — — (4.3) 1.9 (2.4) Sale of subsidiary shares to noncontrolling interest — — 1.9 (1.9) — Dividends to common stockholders (464.9) — — — (464.9) Issuance of long-term debt 644.2 — 6.8 5.1 656.1 Principal repayments of long-term debt (744.5) — (47.5) (7.3) (799.3) Net repayments of short-term borrowings — — (131.4) — (131.4) Dividends and capital paid to parent — (1,195.0) (1,298.4) 2,493.4 — Investment contract deposits — 10,465.8 305.1 — 10,770.9 Investment contract withdrawals — (8,373.3) (19.4) — (8,392.7) Net increase in banking operation deposits — — 129.0 — 129.0 Other — 0.3 0.1 — 0.4 Net cash provided by (used in) financing activities (804.0) 815.2 (1,051.5) 2,491.2 1,450.9 Net increase (decrease) in cash and cash equivalents 303.9 (452.8) 829.1 (525.4) 154.8 Cash and cash equivalents at beginning of period 578.7 1,127.9 1,253.7 (395.5) 2,564.8 Cash and cash equivalents at end of period $ 882.6 $ 675.1 $ 2,082.8 $ (920.9) $ 2,719.6
Condensed Consolidating Financial Information, Shelf Registration Guarantor (Table)	Condensed Consolidating Statements of Financial Position December 31, 2018 Principal Life Principal Principal Insurance Company Principal Financial Financial and Other Financial Group, Inc. Services, Inc. Subsidiaries Group, Inc. Parent Only Only Combined (1) Eliminations Consolidated (in millions) Assets Fixed maturities, available-for-sale $ 211.5 $ — $ 59,897.0 $ — $ 60,108.5 Fixed maturities, trading 308.9 — 327.2 — 636.1 Equity securities — 11.9 1,831.8 — 1,843.7 Mortgage loans — — 15,336.9 — 15,336.9 Real estate — — 1,729.7 — 1,729.7 Policy loans — — 801.4 — 801.4 Investment in unconsolidated entities 13,862.4 14,325.5 726.0 (28,045.1) 868.8 Other investments 10.7 100.9 3,329.9 — 3,441.5 Cash and cash equivalents 334.9 649.0 3,096.8 (1,103.2) 2,977.5 Accrued investment income 1.4 0.3 634.5 — 636.2 Premiums due and other receivables — 0.5 1,779.6 (367.0) 1,413.1 Deferred acquisition costs — — 3,693.5 — 3,693.5 Property and equipment — — 767.3 — 767.3 Goodwill — — 1,100.0 — 1,100.0 Other intangibles — — 1,315.1 — 1,315.1 Separate account assets — — 144,987.9 — 144,987.9 Other assets 375.0 38.7 1,521.9 (556.7) 1,378.9 Total assets $ 15,104.8 $ 15,126.8 $ 242,876.5 $ (30,072.0) $ 243,036.1 Liabilities Contractholder funds $ — $ — $ 39,699.7 $ — $ 39,699.7 Future policy benefits and claims — — 35,664.8 — 35,664.8 Other policyholder funds — — 888.4 — 888.4 Short-term debt — — 42.9 — 42.9 Long-term debt 3,129.8 366.7 129.9 (366.8) 3,259.6 Income taxes currently payable — 9.8 61.5 (46.0) 25.3 Deferred income taxes — 13.9 1,446.4 (501.9) 958.4 Separate account liabilities — — 144,987.9 — 144,987.9 Other liabilities 585.0 1,002.9 4,838.1 (764.1) 5,661.9 Total liabilities 3,714.8 1,393.3 227,759.6 (1,678.8) 231,188.9 Redeemable noncontrolling interest — — 391.2 — 391.2 Stockholders' equity Common stock 4.8 — 11.0 (11.0) 4.8 Additional paid-in capital 10,060.7 9,100.0 12,004.5 (21,104.5) 10,060.7 Retained earnings 10,290.2 5,716.8 3,549.8 (9,266.6) 10,290.2 Accumulated other comprehensive loss (1,565.1) (1,083.3) (903.6) 1,986.9 (1,565.1) Treasury stock, at cost (7,400.6) — (2.0) 2.0 (7,400.6) Total stockholders' equity attributable to PFG 11,390.0 13,733.5 14,659.7 (28,393.2) 11,390.0 Noncontrolling interest — — 66.0 — 66.0 Total stockholders' equity 11,390.0 13,733.5 14,725.7 (28,393.2) 11,456.0 Total liabilities and stockholders' equity $ 15,104.8 $ 15,126.8 $ 242,876.5 $ (30,072.0) $ 243,036.1 (1) Condensed Consolidating Statements of Financial Position December 31, 2017 Principal Life Principal Principal Insurance Company Principal Financial Financial and Other Financial Group, Inc. Services, Inc. Subsidiaries Group, Inc. Parent Only Only Combined (1) Eliminations Consolidated (in millions) Assets Fixed maturities, available-for-sale $ — $ — $ 59,388.4 $ — $ 59,388.4 Fixed maturities, trading 351.8 — 214.2 — 566.0 Equity securities — 5.7 1,860.9 — 1,866.6 Mortgage loans — — 14,150.5 — 14,150.5 Real estate — — 1,736.7 — 1,736.7 Policy loans — — 808.3 — 808.3 Investment in unconsolidated entities 15,063.2 15,449.7 706.7 (30,399.0) 820.6 Other investments 10.2 131.3 2,624.1 — 2,765.6 Cash and cash equivalents 842.8 617.4 2,001.1 (990.5) 2,470.8 Accrued investment income 1.1 0.2 609.3 — 610.6 Premiums due and other receivables — 2.0 1,880.3 (412.5) 1,469.8 Deferred acquisition costs — — 3,540.7 — 3,540.7 Property and equipment — — 759.5 — 759.5 Goodwill — — 1,068.8 — 1,068.8 Other intangibles — — 1,314.7 — 1,314.7 Separate account assets — — 159,272.7 — 159,272.7 Other assets 389.7 94.8 1,619.4 (773.0) 1,330.9 Total assets $ 16,658.8 $ 16,301.1 $ 253,556.3 $ (32,575.0) $ 253,941.2 Liabilities Contractholder funds $ — $ — $ 38,082.5 $ — $ 38,082.5 Future policy benefits and claims — — 33,019.3 — 33,019.3 Other policyholder funds — — 922.3 — 922.3 Short-term debt — — 39.5 — 39.5 Long-term debt 3,128.1 412.7 50.3 (412.7) 3,178.4 Income taxes currently payable — 37.3 105.9 (126.5) 16.7 Deferred income taxes — 12.4 1,705.1 (625.0) 1,092.5 Separate account liabilities — — 159,272.7 — 159,272.7 Other liabilities 681.4 894.1 4,760.7 (1,042.1) 5,294.1 Total liabilities 3,809.5 1,356.5 237,958.3 (2,206.3) 240,918.0 Redeemable noncontrolling interest — — 101.3 — 101.3 Stockholders' equity Common stock 4.7 — 11.0 (11.0) 4.7 Additional paid-in capital 9,925.2 9,053.5 11,336.0 (20,389.5) 9,925.2 Retained earnings 9,482.9 5,311.7 3,394.1 (8,705.8) 9,482.9 Accumulated other comprehensive income 165.5 579.4 685.0 (1,264.4) 165.5 Treasury stock, at cost (6,729.0) — (2.0) 2.0 (6,729.0) Total stockholders' equity attributable to PFG 12,849.3 14,944.6 15,424.1 (30,368.7) 12,849.3 Noncontrolling interest — — 72.6 — 72.6 Total stockholders' equity 12,849.3 14,944.6 15,496.7 (30,368.7) 12,921.9 Total liabilities and stockholders' equity $ 16,658.8 $ 16,301.1 $ 253,556.3 $ (32,575.0) $ 253,941.2 (1) PFG sponsors nonqualified benefit plans. Nonqualified benefit plan assets and liabilities held in Rabbi trusts were $643.3 million and $524.7 million, respectively. Condensed Consolidating Statements of Operations For the year ended December 31, 2018 Principal Life Principal Principal Insurance Principal Financial Financial Company and Financial Group, Inc. Services, Inc. Other Subsidiaries Group, Inc. Parent Only Only Combined Eliminations Consolidated (in millions) Revenues Premiums and other considerations $ — $ — $ 6,409.6 $ — $ 6,409.6 Fees and other revenues — 2.7 4,286.4 (15.3) 4,273.8 Net investment income (loss) 25.8 (6.7) 3,598.0 12.1 3,629.2 Net realized capital losses excluding impairment losses on available-for-sale securities (8.2) (3.5) (34.6) — (46.3) Net other-than-temporary impairment losses on available-for-sale securities — — 10.6 — 10.6 Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified from other comprehensive income — — (39.7) — (39.7) Net impairment losses on available-for-sale securities — — (29.1) — (29.1) Net realized capital losses (8.2) (3.5) (63.7) — (75.4) Total revenues 17.6 (7.5) 14,230.3 (3.2) 14,237.2 Expenses Benefits, claims and settlement expenses — — 8,192.5 — 8,192.5 Dividends to policyholders — — 123.6 — 123.6 Operating expenses 191.9 29.1 3,929.5 (13.8) 4,136.7 Total expenses 191.9 29.1 12,245.6 (13.8) 12,452.8 Income (loss) before income taxes (174.3) (36.6) 1,984.7 10.6 1,784.4 Income taxes (benefits) (62.5) 0.2 293.0 — 230.7 Equity in the net income of subsidiaries 1,658.3 1,684.5 — (3,342.8) — Net income 1,546.5 1,647.7 1,691.7 (3,332.2) 1,553.7 Net income attributable to noncontrolling interest — — 7.2 — 7.2 Net income attributable to PFG $ 1,546.5 $ 1,647.7 $ 1,684.5 $ (3,332.2) $ 1,546.5 Net income $ 1,546.5 $ 1,647.7 $ 1,691.7 $ (3,332.2) $ 1,553.7 Other comprehensive loss (1,824.5) (1,839.1) (1,856.4) 3,684.3 (1,835.7) Comprehensive loss $ (278.0) $ (191.4) $ (164.7) $ 352.1 $ (282.0) Condensed Consolidating Statements of Operations For the year ended December 31, 2017 Principal Life Principal Principal Insurance Principal Financial Financial Company and Financial Group, Inc. Services, Inc. Other Subsidiaries Group, Inc. Parent Only Only Combined Eliminations Consolidated (in millions) Revenues Premiums and other considerations $ — $ — $ 6,217.4 $ — $ 6,217.4 Fees and other revenues 7.8 0.2 3,894.7 (10.4) 3,892.3 Net investment income (loss) 9.7 (2.8) 3,396.5 55.9 3,459.3 Net realized capital gains (losses), excluding impairment losses on available-for-sale securities (0.6) 4.2 602.4 — 606.0 Net other-than-temporary impairment losses on available-for-sale securities — — (28.7) — (28.7) Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified from other comprehensive income — — (53.1) — (53.1) Net impairment losses on available-for-sale securities — — (81.8) — (81.8) Net realized capital gains (losses) (0.6) 4.2 520.6 — 524.2 Total revenues 16.9 1.6 14,029.2 45.5 14,093.2 Expenses Benefits, claims and settlement expenses — — 7,822.6 — 7,822.6 Dividends to policyholders — — 124.6 — 124.6 Operating expenses 238.1 48.4 3,616.9 (9.6) 3,893.8 Total expenses 238.1 48.4 11,564.1 (9.6) 11,841.0 Income (loss) before income taxes (221.2) (46.8) 2,465.1 55.1 2,252.2 Income taxes (benefits) 63.1 115.4 (280.9) 30.1 (72.3) Equity in the net income of subsidiaries 2,594.7 2,731.9 — (5,326.6) — Net income 2,310.4 2,569.7 2,746.0 (5,301.6) 2,324.5 Net income attributable to noncontrolling interest — — 14.1 — 14.1 Net income attributable to PFG $ 2,310.4 $ 2,569.7 $ 2,731.9 $ (5,301.6) $ 2,310.4 Net income $ 2,310.4 $ 2,569.7 $ 2,746.0 $ (5,301.6) $ 2,324.5 Other comprehensive income 840.3 809.8 801.8 (1,607.6) 844.3 Comprehensive income $ 3,150.7 $ 3,379.5 $ 3,547.8 $ (6,909.2) $ 3,168.8 Condensed Consolidating Statements of Operations For the year ended December 31, 2016 Principal Life Principal Principal Insurance Principal Financial Financial Company and Financial Group, Inc. Services, Inc. Other Subsidiaries Group, Inc. Parent Only Only Combined Eliminations Consolidated (in millions) Revenues Premiums and other considerations $ — $ — $ 5,299.1 $ — $ 5,299.1 Fees and other revenues — 0.9 3,634.0 (7.5) 3,627.4 Net investment income 3.4 25.2 3,260.4 7.5 3,296.5 Net realized capital gains (losses), excluding impairment losses on available-for-sale securities — (4.5) 273.9 0.1 269.5 Net other-than-temporary impairment losses on available-for-sale securities — — (98.8) — (98.8) Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified to other comprehensive income — — 0.4 — 0.4 Net impairment losses on available-for-sale securities — — (98.4) — (98.4) Net realized capital gains (losses) — (4.5) 175.5 0.1 171.1 Total revenues 3.4 21.6 12,369.0 0.1 12,394.1 Expenses Benefits, claims and settlement expenses — — 6,913.2 — 6,913.2 Dividends to policyholders — — 156.6 — 156.6 Operating expenses 312.3 9.7 3,417.5 (6.9) 3,732.6 Total expenses 312.3 9.7 10,487.3 (6.9) 10,802.4 Income (loss) before income taxes (308.9) 11.9 1,881.7 7.0 1,591.7 Income taxes (benefits) (134.9) (24.3) 389.1 — 229.9 Equity in the net income of subsidiaries 1,490.5 1,447.3 — (2,937.8) — Net income 1,316.5 1,483.5 1,492.6 (2,930.8) 1,361.8 Net income attributable to noncontrolling interest — — 45.3 — 45.3 Net income attributable to PFG $ 1,316.5 $ 1,483.5 $ 1,447.3 $ (2,930.8) $ 1,316.5 Net income $ 1,316.5 $ 1,483.5 $ 1,492.6 $ (2,930.8) $ 1,361.8 Other comprehensive income 218.8 174.3 191.7 (363.8) 221.0 Comprehensive income $ 1,535.3 $ 1,657.8 $ 1,684.3 $ (3,294.6) $ 1,582.8 Condensed Consolidating Statements of Cash Flows For the year ended December 31, 2018 Principal Life Principal Principal Insurance Principal Financial Financial Company and Financial Group, Inc. Services, Inc. Other Subsidiaries Group, Inc. Parent Only Only Combined Eliminations Consolidated (in millions) Operating activities Net cash provided by (used in) operating activities $ (132.4) $ 696.3 $ 5,030.9 $ (438.3) $ 5,156.5 Investing activities Fixed maturities available-for-sale and equity securities with intent to hold: Purchases (210.9) — (13,698.9) — (13,909.8) Sales — — 3,813.1 — 3,813.1 Maturities 2.3 — 6,215.3 — 6,217.6 Mortgage loans acquired or originated — — (3,447.5) — (3,447.5) Mortgage loans sold or repaid — — 2,228.4 — 2,228.4 Real estate acquired — — (88.1) — (88.1) Real estate sold — — 63.5 — 63.5 Net purchases of property and equipment (0.1) — (92.2) — (92.3) Purchase of interests in subsidiaries, net of cash acquired — — (184.7) — (184.7) Dividends and returns of capital received from unconsolidated entities 1,041.6 589.1 — (1,630.7) — Net change in other investments (2.2) (166.2) (413.9) 279.6 (302.7) Net cash provided by (used in) investing activities 830.7 422.9 (5,605.0) (1,351.1) (5,702.5) Financing activities Issuance of common stock 64.0 — — — 64.0 Acquisition of treasury stock (671.6) — — — (671.6) Payments for financing element derivatives — — (65.9) — (65.9) Purchase of subsidiary shares from noncontrolling interest — — (31.1) — (31.1) Dividends to common stockholders (598.6) — — — (598.6) Issuance of long-term debt — 11.1 80.8 (11.1) 80.8 Principal repayments of long-term debt — (57.1) (1.3) 57.1 (1.3) Net proceeds from short-term borrowings — — 8.5 — 8.5 Dividends and capital paid to parent — (1,041.6) (589.1) 1,630.7 — Investment contract deposits — — 8,308.8 — 8,308.8 Investment contract withdrawals — — (6,589.6) — (6,589.6) Net increase in banking operation deposits — — 553.0 — 553.0 Other — — (4.3) — (4.3) Net cash provided by (used in) financing activities (1,206.2) (1,087.6) 1,669.8 1,676.7 1,052.7 Net increase (decrease) in cash and cash equivalents (507.9) 31.6 1,095.7 (112.7) 506.7 Cash and cash equivalents at beginning of period 842.8 617.4 2,001.1 (990.5) 2,470.8 Cash and cash equivalents at end of period $ 334.9 $ 649.0 $ 3,096.8 $ (1,103.2) $ 2,977.5 Condensed Consolidating Statements of Cash Flows For the year ended December 31, 2017 Principal Life Principal Principal Insurance Principal Financial Financial Company and Financial Group, Inc. Services, Inc. Other Subsidiaries Group, Inc. Parent Only Only Combined Eliminations Consolidated (in millions) Operating activities Net cash provided by (used in) operating activities $ (443.2) $ (252.8) $ 4,483.6 $ 400.4 $ 4,188.0 Investing activities Fixed maturities available-for-sale and equity securities with intent to hold: Purchases — — (13,371.6) — (13,371.6) Sales — — 1,413.6 — 1,413.6 Maturities — — 8,743.2 — 8,743.2 Mortgage loans acquired or originated — — (2,755.8) — (2,755.8) Mortgage loans sold or repaid — — 1,872.0 — 1,872.0 Real estate acquired — — (200.5) — (200.5) Real estate sold — — 481.9 — 481.9 Net purchases of property and equipment (0.1) — (164.7) — (164.8) Dividends and returns of capital received from unconsolidated entities 1,002.5 691.2 — (1,693.7) — Net change in other investments (1.1) 7.5 (61.6) (15.6) (70.8) Net cash provided by (used in) investing activities 1,001.3 698.7 (4,043.5) (1,709.3) (4,052.8) Financing activities Issuance of common stock 162.5 — — — 162.5 Acquisition of treasury stock (220.4) — — — (220.4) Proceeds from financing element derivatives — — 0.1 — 0.1 Payments for financing element derivatives — — (77.6) — (77.6) Purchase of subsidiary shares from noncontrolling interest — — (13.3) — (13.3) Dividends to common stockholders (540.0) — — — (540.0) Issuance of long-term debt — 9.4 2.8 (9.4) 2.8 Principal repayments of long-term debt — (38.8) (56.5) 38.8 (56.5) Net repayments of short-term borrowings — — (92.0) 76.5 (15.5) Dividends and capital paid to parent — (1,002.5) (691.2) 1,693.7 — Investment contract deposits — — 10,154.4 — 10,154.4 Investment contract withdrawals — — (9,914.6) — (9,914.6) Net increase in banking operation deposits — — 136.6 — 136.6 Other — — (2.5) — (2.5) Net cash used in financing activities (597.9) (1,031.9) (553.8) 1,799.6 (384.0) Net decrease in cash and cash equivalents (39.8) (586.0) (113.7) 490.7 (248.8) Cash and cash equivalents at beginning of period 882.6 1,203.4 2,114.8 (1,481.2) 2,719.6 Cash and cash equivalents at end of period $ 842.8 $ 617.4 $ 2,001.1 $ (990.5) $ 2,470.8 Condensed Consolidating Statements of Cash Flows For the year ended December 31, 2016 Principal Life Principal Principal Insurance Principal Financial Financial Company and Financial Group, Inc. Services, Inc. Other Subsidiaries Group, Inc. Parent Only Only Combined Eliminations Consolidated (in millions) Operating activities Net cash provided by (used in) operating activities $ (188.6) $ 255.7 $ 3,983.8 $ (193.1) $ 3,857.8 Investing activities Fixed maturities available-for-sale and equity securities with intent to hold: Purchases — — (13,763.8) — (13,763.8) Sales — — 1,890.5 — 1,890.5 Maturities — — 7,742.8 — 7,742.8 Mortgage loans acquired or originated — — (2,889.0) — (2,889.0) Mortgage loans sold or repaid — — 2,068.7 — 2,068.7 Real estate acquired — — (109.7) — (109.7) Real estate sold — — 35.5 — 35.5 Net purchases of property and equipment (0.1) — (154.8) — (154.9) Dividends and returns of capital received from unconsolidated entities 1,295.3 1,583.3 — (2,878.6) — Net change in other investments 1.3 (56.8) 258.2 (176.7) 26.0 Net cash provided by (used in) investing activities 1,296.5 1,526.5 (4,921.6) (3,055.3) (5,153.9) Financing activities Issuance of common stock 37.8 — — — 37.8 Acquisition of treasury stock (277.3) — — — (277.3) Proceeds from financing element derivatives — — 0.4 — 0.4 Payments for financing element derivatives — — (87.7) — (87.7) Excess tax benefits from share-based payment arrangements 0.7 — 11.3 — 12.0 Purchase of subsidiary shares from noncontrolling interest — — (2.4) — (2.4) Dividends to common stockholders (464.9) — — — (464.9) Issuance of long-term debt 644.2 6.0 11.9 (6.0) 656.1 Principal repayments of long-term debt (744.5) (20.0) (54.8) 20.0 (799.3) Net repayments of short-term borrowings — — (163.7) 32.3 (131.4) Dividends and capital paid to parent — (1,295.3) (1,583.3) 2,878.6 — Investment contract deposits — — 10,770.9 — 10,770.9 Investment contract withdrawals — — (8,392.7) — (8,392.7) Net increase in banking operation deposits — — 129.0 — 129.0 Other — — 0.4 — 0.4 Net cash provided by (used in) financing activities (804.0) (1,309.3) 639.3 2,924.9 1,450.9 Net increase (decrease) in cash and cash equivalents 303.9 472.9 (298.5) (323.5) 154.8 Cash and cash equivalents at beginning of period 578.7 730.5 2,413.3 (1,157.7) 2,564.8 Cash and cash equivalents at end of period $ 882.6 $ 1,203.4 $ 2,114.8 $ (1,481.2) $ 2,719.6

Nature of Operations and Sign_4

Nature of Operations and Significant Accounting Policies - Recent Accounting Pronouncements (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Jan. 01, 2019	Dec. 31, 2017
Recent Accounting Pronouncements
Assets	$ 243,036.1		$ 253,941.2
Liabilities	231,188.9		240,918
Equity securities, available-for-sale			96
Equity securities, trading			$ 1,770.6
ASU 2016-02 - Leases | Adjustment for a future period
Recent Accounting Pronouncements
Assets		$ 165
Liabilities		$ 161
ASU 2016-16 - Intra-entity asset transfer taxes
Recent Accounting Pronouncements
Cumulative effect adjustment, increase to retained earnings	8.7
Cumulative effect adjustment, decrease to other assets	21.1
Cumulative effect adjustment, decrease to deferred income taxes	29.8
Accumulated other comprehensive income (loss) | ASU 2018-02 - Reclassification of certain tax effects
Recent Accounting Pronouncements
Cumulative effect adjustment from adopting guidance	77.6
Accumulated other comprehensive income (loss) | ASU 2016-01 - Equity investments
Recent Accounting Pronouncements
Cumulative effect adjustment from adopting guidance	(1)
Retained earnings (accumulated deficit) | ASU 2018-02 - Reclassification of certain tax effects
Recent Accounting Pronouncements
Cumulative effect adjustment from adopting guidance	(77.6)
Retained earnings (accumulated deficit) | ASU 2016-16 - Intra-entity asset transfer taxes
Recent Accounting Pronouncements
Cumulative effect adjustment, increase to retained earnings	8.7
Retained earnings (accumulated deficit) | ASU 2016-01 - Equity investments
Recent Accounting Pronouncements
Cumulative effect adjustment from adopting guidance	$ 1

Nature of Operations and Sign_5

Nature of Operations and Significant Accounting Policies - Adoption of "Revenue Recognition" Guidance (Details) - USD ($) $ in Millions	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Assets
Deferred acquisition costs	$ 3,693.5		$ 3,540.7	$ 3,380.2	$ 3,276.1
Other assets	1,378.9		1,330.9
Liabilities
Deferred income taxes	958.4		1,092.5
Stockholders' equity
Total stockholders' equity	11,456		$ 12,921.9	$ 10,293.8	$ 9,377.4
ASU 2014-09 - Revenue recognition | As adjusted
Assets
Deferred acquisition costs	3,887.2
Other assets	1,241.3
Liabilities
Deferred income taxes	979.2
Stockholders' equity
Total stockholders' equity	11,491.3
ASU 2014-09 - Revenue recognition | Impact of adopting revenue recognition accounting guidance
Assets
Deferred acquisition costs	(193.7)
Other assets	137.6
Liabilities
Deferred income taxes	(20.8)
Stockholders' equity
Total stockholders' equity	$ (35.3)	$ (39.7)

Nature of Operations and Sign_6

Nature of Operations and Significant Accounting Policies - Cash and Cash Equivalents, Investments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Cash and Cash Equivalents
Maximum maturity period when purchased for investments to be included in cash and cash equivalents	3 months
Investments
Real estate held for sale	$ 209.6	$ 212.9

Nature of Operations and Sign_7

Nature of Operations and Significant Accounting Policies - Contractholder and Policyholder Liabilities (Details) - Individual Life insurance	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Contractholder and Policyholder Liabilities
Participating business as a percentage of life insurance in force (as a percent)	7.00%	7.00%	8.00%
Participating business as a percentage of life insurance policies in force (as a percent)	26.00%	29.00%	33.00%
Participating business as a percentage of life insurance premiums (as a percent)	24.00%	30.00%	31.00%

Nature of Operations and Sign_8

Nature of Operations and Significant Accounting Policies - Other Various Policies (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)Counterparty	Dec. 31, 2017USD ($)Counterparty	Dec. 31, 2016USD ($)
Long-Term Debt
Minimum maturity period at date of issuance for debt to be classified as long-term	1 year
Reinsurance
Net ceded reinsurance recoverables related to claims received	$ 450.6	$ 427.7
Amount of net ceded reinsurance recoverables related to claims received with five largest ceded reinsurers	$ 435.6	$ 417.4
Percentage of net ceded reinsurance recoverables related to claims received with five largest ceded reinsurers (as a percent)	97.00%	98.00%
Number of largest ceded reinsurers | Counterparty	5	5
Total amount recoverable from reinsurers	$ 920.8	$ 864.3
Premiums and other considerations:
Premiums and other considerations, Direct	6,928.3	6,699.3	$ 5,753.8
Premiums and other considerations, Assumed	1.7	1.9	1.7
Premiums and other considerations, Ceded	(520.4)	(483.8)	(456.4)
Premiums and other considerations	6,409.6	6,217.4	5,299.1
Benefits, claims and settlement expenses:
Benefits, claims and settlement expenses, Direct	8,667.7	8,216.3	7,202.5
Benefits, claims and settlement expenses, Assumed	24.9	27.7	28.1
Benefits, claims and settlement expenses, Ceded	(500.1)	(421.4)	(317.4)
Benefits, claims and settlement expenses	8,192.5	7,822.6	$ 6,913.2
Separate Accounts
Separate account that primarily includes shares of Principal Financial Group, Inc. stock that were allocated and issued to eligible participants of qualified employee benefit plans as part of the 2001 demutualization	$ 94.9	$ 170.5

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Changes in Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Changes in Goodwill
Beginning balance, Goodwill	$ 1,068.8	$ 1,020.8
Goodwill from acquisitions	113.9
Goodwill disposed	(12)
Foreign currency, Goodwill	(70.7)	48
Ending balance, Goodwill	1,100	1,068.8
Retirement and Income Solutions
Changes in Goodwill
Beginning balance, Goodwill	57.4	57.4
Ending balance, Goodwill	57.4	57.4
Principal Global Investors
Changes in Goodwill
Beginning balance, Goodwill	247.3	242.5
Goodwill from acquisitions	65
Foreign currency, Goodwill	(5)	4.8
Ending balance, Goodwill	307.3	247.3
Principal International
Changes in Goodwill
Beginning balance, Goodwill	707.5	664.3
Goodwill from acquisitions	46.8
Goodwill disposed	(12)
Foreign currency, Goodwill	(65.7)	43.2
Ending balance, Goodwill	676.6	707.5
U.S. Insurance Solutions
Changes in Goodwill
Beginning balance, Goodwill	56.6	56.6
Ending balance, Goodwill	56.6	$ 56.6
Corporate
Changes in Goodwill
Goodwill from acquisitions	2.1
Ending balance, Goodwill	$ 2.1

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Finite-Lived Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Goodwill and Other Intangible Assets
Weighted average remaining expected life of finite lived intangible assets	14 years
Gross carrying amount	$ 810.2	$ 782.9
Accumulated amortization	288.4	277.7
Net carrying amount	521.8	505.2
Amortization expense for intangible assets with finite useful lives	53.9	$ 45.4	$ 44.5
Estimated amortization expense for the next five years
Year 1: Finite lived intangible assets amortization	48.5
Year 2: Finite lived intangible assets amortization	48.2
Year 3: Finite lived intangible assets amortization	47
Year 4: Finite lived intangible assets amortization	46.3
Year 5: Finite lived intangible assets amortization	$ 44.2

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Indefinite-Lived Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Indefinite Lived Intangible Assets
Net carrying amount of unamortized indefinite lived intangible assets	$ 793.3	$ 809.5
WM Advisors, Inc.
Indefinite Lived Intangible Assets
Net carrying amount of unamortized indefinite lived intangible assets	$ 608	$ 608

Variable Interest Entities - Re

Variable Interest Entities - Recent Accounting Pronouncement (Details) - USD ($) $ in Millions	Jan. 01, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Consolidated assets		$ 243,036.1	$ 253,941.2
Consolidated liabilities		231,188.9	240,918
Redeemable noncontrolling interest		$ 391.2	$ 101.3	$ 97.5	$ 85.7
New Accounting Pronouncement | Accounting Standards Update 2015-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deconsolidated assets	$ 8,600
Deconsolidated liabilities	8,600
Cumulative effect adjustment, increase to retained earnings	0
Consolidated assets	180.1
Consolidated liabilities	0.6
Redeemable noncontrolling interest	$ 179.5

Variable Interest Entities - Co

Variable Interest Entities - Consolidated VIEs (Details) $ in Millions	Dec. 31, 2018USD ($)item	Dec. 31, 2017USD ($)item
Carrying amounts of consolidated VIE assets and liabilities
Total assets	$ 38,922.8	$ 43,154.8
Total liabilities	$ 37,742.9	$ 42,195
Grantor trusts
Consolidated Variable Interest Entity disclosures
Number of consolidated variable interest entities | item	1	2
Carrying amounts of consolidated VIE assets and liabilities
Total assets	$ 95	$ 268.8
Total liabilities	89.4	253.1
Commercial mortgage-backed securities VIE
Carrying amounts of consolidated VIE assets and liabilities
Total assets	6.4	9.4
Mandatory retirement savings funds
Carrying amounts of consolidated VIE assets and liabilities
Total assets	37,915.7	42,311.4
Total liabilities	37,579.3	41,921.4
Real estate VIE
Carrying amounts of consolidated VIE assets and liabilities
Total assets	379.2	387.1
Total liabilities	70.6	19.5
Sponsored investment funds
Carrying amounts of consolidated VIE assets and liabilities
Total assets	526.5	178.1
Total liabilities	3.6	1
Redeemable noncontrolling interest	$ 325.7	$ 52.4

Variable Interest Entities - Un

Variable Interest Entities - Unconsolidated VIEs (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Money Market Funds
Total assets of unconsolidated money market mutual funds	$ 3,000	$ 4,400
Corporate debt securities | Available-for-sale
Unconsolidated Variable Interest Entity disclosures
Asset carrying value	235.3	244.2
Maximum exposure to loss	222.6	224.5
Residential mortgage-backed pass-through securities | Available-for-sale
Unconsolidated Variable Interest Entity disclosures
Asset carrying value	2,460.6	2,523.3
Maximum exposure to loss	2,488.5	2,493.8
Residential mortgage-backed pass-through securities | Trading
Unconsolidated Variable Interest Entity disclosures
Asset carrying value	322.6	366.5
Maximum exposure to loss	322.6	366.5
Commercial mortgage-backed securities | Available-for-sale
Unconsolidated Variable Interest Entity disclosures
Asset carrying value	3,945.6	3,708.3
Maximum exposure to loss	4,023.1	3,734
Commercial mortgage-backed securities | Trading
Unconsolidated Variable Interest Entity disclosures
Asset carrying value	13.8	0.7
Maximum exposure to loss	13.8	0.7
Collateralized debt obligations | Available-for-sale
Unconsolidated Variable Interest Entity disclosures
Asset carrying value	2,420.8	1,359.3
Maximum exposure to loss	2,451.3	1,372.1
Collateralized debt obligations | Trading
Unconsolidated Variable Interest Entity disclosures
Asset carrying value	11.8
Maximum exposure to loss	11.8
Other debt obligations | Available-for-sale
Unconsolidated Variable Interest Entity disclosures
Asset carrying value	7,153.2	5,646.2
Maximum exposure to loss	7,196.6	5,645.1
Other debt obligations | Trading
Unconsolidated Variable Interest Entity disclosures
Asset carrying value	9.7
Maximum exposure to loss	9.7
Equity securities
Unconsolidated Variable Interest Entity disclosures
Asset carrying value	103.9	77.1
Maximum exposure to loss	103.9	77.1
Other investments: Other limited partnership and fund interests
Unconsolidated Variable Interest Entity disclosures
Asset carrying value	737.5	797.4
Maximum exposure to loss	1,432.2	$ 1,438
Fully secured debt of international real estate funds with recourse to the investment manager, included in maximum loss exposure	$ 132.2

Investments - Fixed Maturities

Investments - Fixed Maturities and Equity Securities (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Available-for-sale securities
Amortized cost, fixed maturities	$ 59,725.8	$ 56,562.1
Gross unrealized gains, fixed maturities	1,612.4	3,093.3
Gross unrealized losses, fixed maturities	1,229.7	267
Fair value, fixed maturities	60,108.5	59,388.4
Amortized cost, equity securities		94
Gross unrealized gains, equity securities		7.4
Gross unrealized losses, equity securities		5.4
Fair value, equity securities		96
Other-than-temporary impairments in AOCI	53.6	93.3
Net unrealized gains (losses) on impaired fixed maturities, available-for-sale related to changes in fair value subsequent to the impairment date	64.2	103
U.S. government and agencies
Available-for-sale securities
Amortized cost, fixed maturities	1,441.6	1,314.5
Gross unrealized gains, fixed maturities	16.4	44.9
Gross unrealized losses, fixed maturities	17	7.7
Fair value, fixed maturities	1,441	1,351.7
Non-U.S. governments
Available-for-sale securities
Amortized cost, fixed maturities	833.4	820.5
Gross unrealized gains, fixed maturities	71.7	84.6
Gross unrealized losses, fixed maturities	14.6	3.6
Fair value, fixed maturities	890.5	901.5
States and political subdivisions
Available-for-sale securities
Amortized cost, fixed maturities	6,125	6,446.1
Gross unrealized gains, fixed maturities	196	371.4
Gross unrealized losses, fixed maturities	95.3	15.9
Fair value, fixed maturities	6,225.7	6,801.6
Corporate debt securities
Available-for-sale securities
Amortized cost, fixed maturities	35,134.6	34,673
Gross unrealized gains, fixed maturities	1,249.9	2,464.2
Gross unrealized losses, fixed maturities	845.2	104.1
Fair value, fixed maturities	35,539.3	37,033.1
Other-than-temporary impairments in AOCI		0.5
Residential mortgage-backed pass-through securities
Available-for-sale securities
Amortized cost, fixed maturities	2,488.5	2,493.8
Gross unrealized gains, fixed maturities	21.9	50.8
Gross unrealized losses, fixed maturities	49.8	21.3
Fair value, fixed maturities	2,460.6	2,523.3
Commercial mortgage-backed securities
Available-for-sale securities
Amortized cost, fixed maturities	4,023.1	3,734
Gross unrealized gains, fixed maturities	17.1	32.7
Gross unrealized losses, fixed maturities	94.6	58.4
Fair value, fixed maturities	3,945.6	3,708.3
Other-than-temporary impairments in AOCI	16.3	50.6
Collateralized debt obligations
Available-for-sale securities
Amortized cost, fixed maturities	2,451.3	1,372.1
Gross unrealized gains, fixed maturities		2.7
Gross unrealized losses, fixed maturities	30.5	15.5
Fair value, fixed maturities	2,420.8	1,359.3
Other-than-temporary impairments in AOCI	1.2	0.3
Other debt obligations
Available-for-sale securities
Amortized cost, fixed maturities	7,228.3	5,708.1
Gross unrealized gains, fixed maturities	39.4	42
Gross unrealized losses, fixed maturities	82.7	40.5
Fair value, fixed maturities	7,185	5,709.6
Other-than-temporary impairments in AOCI	$ 36.1	$ 41.9

Investments - Amortization by E

Investments - Amortization by Expected Maturity (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Amortized cost of fixed maturities available-for-sale
Due in one year or less	$ 2,747.4
Due after one year through five years	10,602.1
Due after five years through ten years	10,511.7
Due after ten years	19,673.4
Subtotal	43,534.6
Mortgage-backed and other asset-backed securities	16,191.2
Amortized cost, fixed maturities	59,725.8	$ 56,562.1
Fair value of fixed maturities available-for-sale
Due in one year or less	2,753.5
Due after one year through five years	10,631.7
Due after five years through ten years	10,389.7
Due after ten years	20,321.6
Subtotal	44,096.5
Mortgage-backed and other asset-backed securities	16,012
Fair value, fixed maturities	$ 60,108.5	$ 59,388.4

Investments - Net Investment In

Investments - Net Investment Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Major categories of net investment income
Gross investment income (loss)	$ 3,731.6	$ 3,548.6	$ 3,380.9
Investment expenses	(102.4)	(89.3)	(84.4)
Net investment income (loss)	3,629.2	3,459.3	3,296.5
Fixed maturities | Available-for-sale
Major categories of net investment income
Gross investment income (loss)	2,479.9	2,342.3	2,253.8
Fixed maturities | Trading
Major categories of net investment income
Gross investment income (loss)	26.4	12.6	20.2
Equity securities
Major categories of net investment income
Gross investment income (loss)	38.8
Equity securities | Available-for-sale
Major categories of net investment income
Gross investment income (loss)		21.7	20.1
Equity securities | Trading
Major categories of net investment income
Gross investment income (loss)		46.1	31.4
Mortgage loans
Major categories of net investment income
Gross investment income (loss)	641.4	605.9	573.9
Real estate
Major categories of net investment income
Gross investment income (loss)	158.8	129.4	127.9
Policy loans
Major categories of net investment income
Gross investment income (loss)	45	45.6	46.3
Cash and cash equivalents
Major categories of net investment income
Gross investment income (loss)	56.2	28.6	14.2
Derivatives
Major categories of net investment income
Gross investment income (loss)	0.1	(3.2)	(36.1)
Other investment types
Major categories of net investment income
Gross investment income (loss)	$ 285	$ 319.6	$ 329.2

Investments - Net Realized Capi

Investments - Net Realized Capital Gains and Losses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Major components of net realized capital gains (losses) on investments
Fixed maturities, available-for-sale: Gross gains	$ 40.2	$ 14.7	$ 74.6
Fixed maturities, available-for-sale: Gross losses	(74.8)	(27.2)	(28.6)
Fixed maturities, available-for-sale: Net impairment (losses) recoveries	(29.1)
Fixed maturities, available-for-sale: Hedging, net	(39.6)	(28.5)	(37.9)
Fixed maturities, trading	(9)	(8)	4.1
Equity securities, available-for-sale: Gross gains		0.2
Equity securities, trading		65	6.8
Available-for-sale securities: Net impairment (losses) recoveries		(81.8)	(98.4)
Equity securities	(17.7)
Net realized capital gains (losses)	(75.4)	524.2	171.1
Unrealized gains (losses) on fixed maturities, trading	(12.2)	(7.5)	6.5
Unrealized gains (losses) on equity securities, trading		45.3	(0.8)
Unrealized gains (losses) on equity securities, trading reported in net investment income		34.9	18.8
Unrealized gains (losses) on equity securities	(39.9)
Unrealized gains (losses) on equity securities reported in net investment income	4.9
Proceeds from sales of investments
Proceeds from sales of investments in fixed maturities, available-for-sale	3,067.2	1,345.8	1,916.9
Fixed maturities
Major components of net realized capital gains (losses) on investments
Available-for-sale securities: Net impairment (losses) recoveries		(81.7)	(96.7)
Equity securities
Major components of net realized capital gains (losses) on investments
Available-for-sale securities: Net impairment (losses) recoveries		(0.1)	(1.7)
Mortgage loans
Major components of net realized capital gains (losses) on investments
Realized capital gains (losses)	6.2	9	4.5
Derivatives
Major components of net realized capital gains (losses) on investments
Realized capital gains (losses)	11.7	(149.8)	210.1
Other investment types
Major components of net realized capital gains (losses) on investments
Realized capital gains (losses)	$ 36.7	$ 730.6	$ 35.9

Investments - Other-Than-Tempor

Investments - Other-Than-Temporary Impairments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Other-than-temporary impairment losses, net of recoveries
Net other-than-temporary impairment (losses) recoveries on available-for-sale securities	$ 10.6	$ (28.7)	$ (98.8)
Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified to (from) other comprehensive income	(39.7)	(53.1)	0.4
Net impairment (losses) recoveries on available-for-sale securities	(29.1)
Net impairment (losses) recoveries on available-for-sale securities		(81.8)	(98.4)
Fixed maturities
Other-than-temporary impairment losses, net of recoveries
Net other-than-temporary impairment (losses) recoveries on available-for-sale securities	$ 10.6	(28.6)	(97.1)
Net impairment (losses) recoveries on available-for-sale securities		(81.7)	(96.7)
Equity securities
Other-than-temporary impairment losses, net of recoveries
Net other-than-temporary impairment (losses) recoveries on available-for-sale securities		(0.1)	(1.7)
Net impairment (losses) recoveries on available-for-sale securities		$ (0.1)	$ (1.7)

Investments - Accumulated Credi

Investments - Accumulated Credit Losses for Fixed Maturities with Bifurcated Credit Losses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Other-Than-Temporary Impairment Credit Losses Recognized in Net Income - Rollforward
Beginning balance	$ (124.3)	$ (139.9)	$ (131.5)
Credit losses for which an other-than-temporary impairment was not previously recognized	(11.3)	(15)	(43.4)
Credit losses for which an other-than-temporary impairment was previously recognized	(20)	(42.5)	(31.7)
Reduction for credit losses previously recognized on fixed maturities now sold, paid down or intended to be sold	29.5	63.3	60.5
Net reduction (increase) for positive changes in cash flows expected to be collected and amortization	8.6	10	6.4
Foreign currency translation adjustment		(0.2)	(0.2)
Ending balance	$ (117.5)	$ (124.3)	$ (139.9)

Investments - Gross Unrealized

Investments - Gross Unrealized Losses for Fixed Maturities and Equity Securities (Details) $ in Millions	Dec. 31, 2018USD ($)item	Dec. 31, 2017USD ($)item
Gross Unrealized Losses for Fixed Maturities and Equity Securities
Fixed maturities, Less than twelve months, Fair value	$ 19,116.1	$ 9,822.3
Fixed maturities, Less than twelve months, Gross unrealized losses	557.7	92.3
Fixed maturities, Greater than or equal to twelve months, Fair value	16,608.2	4,834.9
Fixed maturities, Greater than or equal to twelve months, Gross unrealized losses	672	174.7
Fixed maturities, Total, Fair value	35,724.3	14,657.2
Fixed maturities, Total, Gross unrealized losses	1,229.7	267
U.S. government and agencies
Gross Unrealized Losses for Fixed Maturities and Equity Securities
Fixed maturities, Less than twelve months, Fair value	101.8	294.2
Fixed maturities, Less than twelve months, Gross unrealized losses	1.6	2.2
Fixed maturities, Greater than or equal to twelve months, Fair value	500.3	180.9
Fixed maturities, Greater than or equal to twelve months, Gross unrealized losses	15.4	5.5
Fixed maturities, Total, Fair value	602.1	475.1
Fixed maturities, Total, Gross unrealized losses	17	7.7
Non-U.S. governments
Gross Unrealized Losses for Fixed Maturities and Equity Securities
Fixed maturities, Less than twelve months, Fair value	210.2	111
Fixed maturities, Less than twelve months, Gross unrealized losses	4.7	1.7
Fixed maturities, Greater than or equal to twelve months, Fair value	191.5	22.1
Fixed maturities, Greater than or equal to twelve months, Gross unrealized losses	9.9	1.9
Fixed maturities, Total, Fair value	401.7	133.1
Fixed maturities, Total, Gross unrealized losses	14.6	3.6
States and political subdivisions
Gross Unrealized Losses for Fixed Maturities and Equity Securities
Fixed maturities, Less than twelve months, Fair value	1,359.9	720
Fixed maturities, Less than twelve months, Gross unrealized losses	33.9	5
Fixed maturities, Greater than or equal to twelve months, Fair value	1,590.3	437.7
Fixed maturities, Greater than or equal to twelve months, Gross unrealized losses	61.4	10.9
Fixed maturities, Total, Fair value	2,950.2	1,157.7
Fixed maturities, Total, Gross unrealized losses	95.3	15.9
Corporate debt securities
Gross Unrealized Losses for Fixed Maturities and Equity Securities
Fixed maturities, Less than twelve months, Fair value	13,198.4	3,871.5
Fixed maturities, Less than twelve months, Gross unrealized losses	476	43.4
Fixed maturities, Greater than or equal to twelve months, Fair value	6,865	1,644.3
Fixed maturities, Greater than or equal to twelve months, Gross unrealized losses	369.2	60.7
Fixed maturities, Total, Fair value	20,063.4	5,515.8
Fixed maturities, Total, Gross unrealized losses	845.2	104.1
Residential mortgage-backed pass-through securities
Gross Unrealized Losses for Fixed Maturities and Equity Securities
Fixed maturities, Less than twelve months, Fair value	236.7	354.4
Fixed maturities, Less than twelve months, Gross unrealized losses	1	2
Fixed maturities, Greater than or equal to twelve months, Fair value	1,410.2	734.5
Fixed maturities, Greater than or equal to twelve months, Gross unrealized losses	48.8	19.3
Fixed maturities, Total, Fair value	1,646.9	1,088.9
Fixed maturities, Total, Gross unrealized losses	49.8	21.3
Commercial mortgage-backed securities
Gross Unrealized Losses for Fixed Maturities and Equity Securities
Fixed maturities, Less than twelve months, Fair value	790.3	1,342.7
Fixed maturities, Less than twelve months, Gross unrealized losses	11.6	19.9
Fixed maturities, Greater than or equal to twelve months, Fair value	2,223.2	820.3
Fixed maturities, Greater than or equal to twelve months, Gross unrealized losses	83	38.5
Fixed maturities, Total, Fair value	3,013.5	2,163
Fixed maturities, Total, Gross unrealized losses	94.6	58.4
Collateralized debt obligations
Gross Unrealized Losses for Fixed Maturities and Equity Securities
Fixed maturities, Less than twelve months, Fair value	2,233.3	460.9
Fixed maturities, Less than twelve months, Gross unrealized losses	24	2.1
Fixed maturities, Greater than or equal to twelve months, Fair value	162.6	38.3
Fixed maturities, Greater than or equal to twelve months, Gross unrealized losses	6.5	13.4
Fixed maturities, Total, Fair value	2,395.9	499.2
Fixed maturities, Total, Gross unrealized losses	30.5	15.5
Other debt obligations
Gross Unrealized Losses for Fixed Maturities and Equity Securities
Fixed maturities, Less than twelve months, Fair value	985.5	2,667.6
Fixed maturities, Less than twelve months, Gross unrealized losses	4.9	16
Fixed maturities, Greater than or equal to twelve months, Fair value	3,665.1	956.8
Fixed maturities, Greater than or equal to twelve months, Gross unrealized losses	77.8	24.5
Fixed maturities, Total, Fair value	4,650.6	3,624.4
Fixed maturities, Total, Gross unrealized losses	82.7	40.5
Equity securities
Gross Unrealized Losses for Fixed Maturities and Equity Securities
Greater than or equal to twelve months, Fair value		40.4
Greater than or equal to twelve months, Gross unrealized losses		5.4
Total, Fair value		40.4
Total, Gross unrealized losses		5.4
Principal Life Insurance Company
Gross Unrealized Losses for Fixed Maturities and Equity Securities
Fixed maturities, Less than twelve months, Fair value	18,764	9,360.9
Fixed maturities, Less than twelve months, Gross unrealized losses	541.3	75.4
Fixed maturities, Greater than or equal to twelve months, Fair value	16,287.9	4,698.6
Fixed maturities, Greater than or equal to twelve months, Gross unrealized losses	661.6	164.3
Fixed maturities, Total, Fair value	35,051.9	14,059.5
Fixed maturities, Total, Gross unrealized losses	$ 1,202.9	$ 239.7
Available-for-sale Securities, Continuous Unrealized Loss Position, Qualitative Disclosure
Available-for-sale Securities in Unrealized Loss Positions, Qualitative Disclosure, Percent Investment Grade (as a percent)	95.00%	97.00%
Available-for-sale Securities in Unrealized Loss Positions, Qualitative Disclosure, Average Price (percent of carrying value to amortized cost) | item	97	98
Available-for-sale Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less Than Twelve Months | item	2,076	1,209
Available-for-sale Securities in Unrealized Loss Positions, Average Price, Less Than Twelve Months (percent of carrying value to amortized cost) | item	97	99
Available-for-sale Securities in Unrealized Loss Positions, Percent Investment Grade, Less Than Twelve Months (as a percent)	92.00%	98.00%
Available-for-sale Securities in Unrealized Loss Position, Aggregate Losses On Investment Grade Investments, Less Than Twelve Months	$ 473.7	$ 71.5
Available-for-sale Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Twelve Months or Longer | item	2,335	775
Available-for-sale Securities in Unrealized Loss Positions, Average Price, Twelve Months or Longer (percent of carrying value to amortized cost) | item	96	97
Principal Life Insurance Company | Corporate debt securities
Gross Unrealized Losses for Fixed Maturities and Equity Securities
Fixed maturities, Greater than or equal to twelve months, Gross unrealized losses	$ 360.4	$ 52.2
Available-for-sale Securities, Continuous Unrealized Loss Position, Qualitative Disclosure
Available-for-sale Securities in Unrealized Loss Positions, Average Price, Twelve Months or Longer (percent of carrying value to amortized cost) | item	95	97
Principal Life Insurance Company | Commercial mortgage-backed securities
Gross Unrealized Losses for Fixed Maturities and Equity Securities
Fixed maturities, Greater than or equal to twelve months, Gross unrealized losses	$ 82.2	$ 38.1
Available-for-sale Securities, Continuous Unrealized Loss Position, Qualitative Disclosure
Available-for-sale Securities in Unrealized Loss Positions, Average Price, Twelve Months or Longer (percent of carrying value to amortized cost) | item	96	96

Investments - Net Unrealized Ga

Investments - Net Unrealized Gains and Losses on Available-for-Sale Securities and Derivative Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Net Unrealized Gains and Losses on Available-for-Sale Securities and Derivative Instruments
Net unrealized gains (losses) on fixed maturities, available-for-sale	$ 400.8	$ 2,898.5
Noncredit component of impairment losses on fixed maturities, available-for-sale	(53.6)	(93.3)
Net unrealized gains (losses) on equity securities, available-for-sale		2
Net unrealized gains (losses) on derivative instruments	118.5	108.2
Adjustments for assumed changes in amortization patterns	30.3	(150.6)
Adjustments for assumed changes in policyholder liabilities	(293.7)	(645.5)
Net unrealized gains (losses) on other investments and noncontrolling interest adjustments	68.8	31.3
Provision for deferred income tax benefits (taxes)	(63.8)	(695.5)
Net unrealized gains (losses) on available-for-sale securities and derivative instruments	$ 207.3	$ 1,455.1

Investments - Mortgage Loans (D

Investments - Mortgage Loans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 15,364.3	$ 14,183.2	$ 13,275.1
Mortgage loan valuation allowance	(27.4)	(32.7)	(44.9)	$ (51.6)
Mortgage loans, Total carrying value	15,336.9	14,150.5
Commercial mortgage loans
Mortgage loan disclosures
Mortgage loans, Total amortized cost	13,996.3	12,897.3	12,055.2
Mortgage loan valuation allowance	(24.3)	(25.8)	(27.4)	(27.5)
Mortgage loans, purchased	127.5	144.2	163.3
Mortgage loans, sold	$ 2.2	$ 28.9	0.3
Percent of mortgage loans (as a percent)	100.00%	100.00%
Commercial mortgage loans | Office
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 4,625.8	$ 4,700.2
Percent of mortgage loans (as a percent)	33.00%	36.40%
Commercial mortgage loans | Retail
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 2,305.6	$ 2,612.7
Percent of mortgage loans (as a percent)	16.50%	20.30%
Commercial mortgage loans | Industrial
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 2,312.9	$ 1,881.5
Percent of mortgage loans (as a percent)	16.50%	14.60%
Commercial mortgage loans | Apartments
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 4,250.5	$ 3,301.9
Percent of mortgage loans (as a percent)	30.40%	25.60%
Commercial mortgage loans | Hotel
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 99.8	$ 130.9
Percent of mortgage loans (as a percent)	0.70%	1.00%
Commercial mortgage loans | Mixed use/other
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 401.7	$ 270.1
Percent of mortgage loans (as a percent)	2.90%	2.10%
Commercial mortgage loans | New England
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 640.6	$ 591.8
Percent of mortgage loans (as a percent)	4.60%	4.60%
Commercial mortgage loans | Middle Atlantic
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 3,927.3	$ 3,623
Percent of mortgage loans (as a percent)	28.00%	28.10%
Commercial mortgage loans | East North Central
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 592.8	$ 675.2
Percent of mortgage loans (as a percent)	4.20%	5.20%
Commercial mortgage loans | West North Central
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 205.8	$ 174.9
Percent of mortgage loans (as a percent)	1.50%	1.40%
Commercial mortgage loans | South Atlantic
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 2,206.5	$ 2,325.3
Percent of mortgage loans (as a percent)	15.80%	18.00%
Commercial mortgage loans | East South Central
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 422.5	$ 375.7
Percent of mortgage loans (as a percent)	3.00%	2.90%
Commercial mortgage loans | West South Central
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 1,213.8	$ 1,072.4
Percent of mortgage loans (as a percent)	8.70%	8.30%
Commercial mortgage loans | Mountain
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 968.6	$ 1,039.3
Percent of mortgage loans (as a percent)	6.90%	8.10%
Commercial mortgage loans | Pacific
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 3,567.6	$ 2,849
Percent of mortgage loans (as a percent)	25.50%	22.10%
Commercial mortgage loans | International
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 250.8	$ 170.7
Percent of mortgage loans (as a percent)	1.80%	1.30%
Residential mortgage loans
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 1,368	$ 1,285.9	1,219.9
Mortgage loan valuation allowance	(3.1)	(6.9)	(17.5)	$ (24.1)
Mortgage loans, purchased	394.2	346	290.3
Mortgage loans, sold	80.3	152.2	$ 48.4
First liens
Mortgage loan disclosures
Mortgage loans, Total amortized cost	1,352.9	1,262.9
Home equity
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 15.1	$ 23

Investments - Mortgage Loan Cre

Investments - Mortgage Loan Credit Monitoring (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	$ 15,364.3	$ 14,183.2	$ 13,275.1
Commercial mortgage loans
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	13,996.3	12,897.3	12,055.2
Commercial mortgage loans | A- and above
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	12,819.5	11,765.2
Commercial mortgage loans | BBB+ thru BBB-
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	1,083	1,036.5
Commercial mortgage loans | BB+ thru BB-
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	88.3	89
Commercial mortgage loans | B+ and below
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	5.5	6.6
Brick and mortar
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	13,806.3	12,665.6
Brick and mortar | A- and above
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	12,735.2	11,636.2
Brick and mortar | BBB+ thru BBB-
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	977.3	934.1
Brick and mortar | BB+ thru BB-
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	88.3	89
Brick and mortar | B+ and below
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	5.5	6.3
Credit tenant loans
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	190	231.7
Credit tenant loans | A- and above
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	84.3	129
Credit tenant loans | BBB+ thru BBB-
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	105.7	102.4
Credit tenant loans | B+ and below
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost		0.3
Residential mortgage loans
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	1,368	1,285.9	$ 1,219.9
Residential mortgage loans | Performing
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	1,351.1	1,267.9
Residential mortgage loans | Non-performing
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	$ 16.9	$ 18
Mortgage loans, Days delinquent to be considered non-performing	90 days	90 days
First liens
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	$ 1,352.9	$ 1,262.9
First liens | Performing
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	1,340.3	1,251.4
First liens | Non-performing
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	12.6	11.5
Home equity
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	15.1	23
Home equity | Performing
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	10.8	16.5
Home equity | Non-performing
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	$ 4.3	$ 6.5

Investments - Mortgage Loans, N

Investments - Mortgage Loans, Non-Accrual and Aging (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Mortgage loan non-accrual and aging disclosures
Mortgage loans, Non-accrual status	$ 14.4	$ 10.4
Past due	66.6	59.1
Current	15,297.7	14,124.1
Mortgage loans, Total amortized cost	15,364.3	14,183.2	$ 13,275.1
Recorded investment 90 days or more past due and accruing	2.5	7.6
30 to 59 Days Past Due
Mortgage loan non-accrual and aging disclosures
Past due	45.1	39.1
60 to 89 Days Past Due
Mortgage loan non-accrual and aging disclosures
Past due	9	8.6
90 Days or More Past Due
Mortgage loan non-accrual and aging disclosures
Past due	12.5	11.4
Commercial mortgage loans
Mortgage loan non-accrual and aging disclosures
Mortgage loans, Total amortized cost	13,996.3	12,897.3	12,055.2
Brick and mortar
Mortgage loan non-accrual and aging disclosures
Current	13,806.3	12,665.6
Mortgage loans, Total amortized cost	13,806.3	12,665.6
Credit tenant loans
Mortgage loan non-accrual and aging disclosures
Current	190	231.7
Mortgage loans, Total amortized cost	190	231.7
Residential mortgage loans
Mortgage loan non-accrual and aging disclosures
Mortgage loans, Total amortized cost	1,368	1,285.9	$ 1,219.9
First liens
Mortgage loan non-accrual and aging disclosures
Mortgage loans, Non-accrual status	10.1	3.9
Past due	64.8	55.7
Current	1,288.1	1,207.2
Mortgage loans, Total amortized cost	1,352.9	1,262.9
Recorded investment 90 days or more past due and accruing	2.5	7.6
First liens | 30 to 59 Days Past Due
Mortgage loan non-accrual and aging disclosures
Past due	44.3	37.2
First liens | 60 to 89 Days Past Due
Mortgage loan non-accrual and aging disclosures
Past due	8.4	7.9
First liens | 90 Days or More Past Due
Mortgage loan non-accrual and aging disclosures
Past due	12.1	10.6
Home equity
Mortgage loan non-accrual and aging disclosures
Mortgage loans, Non-accrual status	4.3	6.5
Past due	1.8	3.4
Current	13.3	19.6
Mortgage loans, Total amortized cost	15.1	23
Home equity | 30 to 59 Days Past Due
Mortgage loan non-accrual and aging disclosures
Past due	0.8	1.9
Home equity | 60 to 89 Days Past Due
Mortgage loan non-accrual and aging disclosures
Past due	0.6	0.7
Home equity | 90 Days or More Past Due
Mortgage loan non-accrual and aging disclosures
Past due	$ 0.4	$ 0.8

Investments - Mortgage Loan Val

Investments - Mortgage Loan Valuation Allowance (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Changes in mortgage loan valuation allowance
Beginning balance, Mortgage loan valuation allowance	$ 32.7	$ 44.9	$ 51.6
Provision: Mortgage loan valuation allowance	(6)	(12)	(4.2)
Charge-offs: Mortgage loan valuation allowance	(2.4)	(5.1)	(6.1)
Recoveries: Mortgage loan valuation allowance	3.1	4.9	3.6
Ending balance, Mortgage loan valuation allowance	27.4	32.7	44.9
Individually evaluated for impairment, Mortgage loan valuation allowance	1.4	4.5	5.9
Collectively evaluated for impairment, Mortgage loan valuation allowance	26	28.2	39
Individually evaluated for impairment, Mortgage loans	9.2	12.5	19.2
Collectively evaluated for impairment, Mortgage loans	15,355.1	14,170.7	13,255.9
Mortgage loans, Total amortized cost	$ 15,364.3	$ 14,183.2	$ 13,275.1
Commercial mortgage loans
Mortgage loan valuation allowance disclosures
Mortgage loans, Days delinquent to be analyzed for valuation allowance	60 days	60 days	60 days
Changes in mortgage loan valuation allowance
Beginning balance, Mortgage loan valuation allowance	$ 25.8	$ 27.4	$ 27.5
Provision: Mortgage loan valuation allowance	(1.5)	(1.6)	1.4
Charge-offs: Mortgage loan valuation allowance			(1.5)
Ending balance, Mortgage loan valuation allowance	24.3	25.8	27.4
Collectively evaluated for impairment, Mortgage loan valuation allowance	24.3	25.8	27.4
Collectively evaluated for impairment, Mortgage loans	13,996.3	12,897.3	12,055.2
Mortgage loans, Total amortized cost	13,996.3	12,897.3	12,055.2
Residential mortgage loans
Changes in mortgage loan valuation allowance
Beginning balance, Mortgage loan valuation allowance	6.9	17.5	24.1
Provision: Mortgage loan valuation allowance	(4.5)	(10.4)	(5.6)
Charge-offs: Mortgage loan valuation allowance	(2.4)	(5.1)	(4.6)
Recoveries: Mortgage loan valuation allowance	3.1	4.9	3.6
Ending balance, Mortgage loan valuation allowance	3.1	6.9	17.5
Individually evaluated for impairment, Mortgage loan valuation allowance	1.4	4.5	5.9
Collectively evaluated for impairment, Mortgage loan valuation allowance	1.7	2.4	11.6
Individually evaluated for impairment, Mortgage loans	9.2	12.5	19.2
Collectively evaluated for impairment, Mortgage loans	1,358.8	1,273.4	1,200.7
Mortgage loans, Total amortized cost	$ 1,368	$ 1,285.9	$ 1,219.9

Investments - Impaired Mortgage

Investments - Impaired Mortgage Loans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Residential mortgage loans
Impaired mortgage loans
Recorded investment in impaired mortgage loans	$ 9.2	$ 12.5
Unpaid principal balance of impaired mortgage loans	10.3	13.4
Related allowance for impaired mortgage loans	1.4	4.5
Average investment in impaired mortgage loans	11	15.9	$ 21.3
Interest income recognized on impaired mortgage loans	0.3	0.4	0.4
First liens
Impaired mortgage loans
Recorded investment in impaired mortgage loans with no related allowance	1.6	0.9
Recorded investment in impaired mortgage loans with related allowance	2.2	4
Unpaid principal balance of impaired mortgage loans with no related allowance	1.6	0.8
Unpaid principal balance of impaired mortgage loans with related allowance	2.2	4
Related allowance for impaired mortgage loans		0.2
Average investment in impaired mortgage loans with no related allowance	1.3	1.2	2.6
Average investment in impaired mortgage loans with related allowance	3.2	4.4	5.3
Interest income recognized on impaired mortgage loans with related allowance	0.1	0.2	0.1
Home equity
Impaired mortgage loans
Recorded investment in impaired mortgage loans with related allowance	5.4	7.6
Unpaid principal balance of impaired mortgage loans with related allowance	6.5	8.6
Related allowance for impaired mortgage loans	1.4	4.3
Average investment in impaired mortgage loans with related allowance	6.5	10.3	13.4
Interest income recognized on impaired mortgage loans with related allowance	$ 0.2	$ 0.2	$ 0.3

Investments - Real Estate (Deta

Investments - Real Estate (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Real estate
Depreciation expense on invested real estate	$ 54.1	$ 55.9	$ 52
Accumulated depreciation on invested real estate	$ 487.2	$ 451.6

Investments - Real Estate Trans

Investments - Real Estate Transactions (Details) - Certain real estate joint ventures $ in Millions	1 Months Ended
	Sep. 30, 2017USD ($)
Real Estate Transactions
Net pre-tax realized capital gain	$ 690.9
Net after-tax realized capital gain	410.8
Real estate
Real Estate Transactions
Net increase, assets	293.4
Other investments
Real Estate Transactions
Net increase, assets	222.4
Cash and cash equivalents
Real Estate Transactions
Net increase, assets	219.6
Long-term debt
Real Estate Transactions
Net increase, liabilities	49.4
Income taxes currently payable
Real Estate Transactions
Net increase, liabilities	179.1
Deferred income taxes
Real Estate Transactions
Net increase, liabilities	$ 101

Investments - Other Investments

Investments - Other Investments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Summarized financial information of unconsolidated entities
Total assets, unconsolidated entities	$ 135,355.6	$ 136,171.8
Total liabilities, unconsolidated entities	80,265.4	83,815.2
Total equity, unconsolidated entities	55,090.2	52,356.6
Net investment in unconsolidated entities	1,723.7	1,616.2
Total revenues, unconsolidated entities	15,389.4	15,020.9	$ 14,376.4
Net income, unconsolidated entities	6,542.1	4,530.1	3,455.3
Our share of net income of unconsolidated entities	161.6	232.7	$ 232.7
Other Types of Investments
Direct financing leases	830.7	937.4
Company owned life insurance	502.6	0
Certain sponsored investment funds	$ 719.7	$ 396.4

Investments - Securities Posted

Investments - Securities Posted as Collateral (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Securities Posted as Collateral
Commercial mortgage loans and residential first lien mortgages posted as collateral associated with obligation under funding agreements with the Federal Home Loan Bank of Des Moines	$ 3,761.3	$ 2,807.4
Fixed maturities available-for-sale and trading securities posted as collateral for a reinsurance arrangement, derivative credit support annex (collateral) agreements, Futures Commission Merchant agreements, a lending arrangement and an obligation under funding agreements with Federal Home Loan Bank of Des Moines	2,402.5	2,486.2
Securities posted as collateral eligible to be sold or repledged	$ 124.2	$ 173.3

Investments - Balance Sheet Off

Investments - Balance Sheet Offsetting, Assets (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Financial Asset Offsetting
Gross amount of recognized assets subject to netting agreements	$ 239.3	$ 304.6
Amount of liabilities that offset the gross amount of assets subject to netting agreements not offset in statement of financial position	(70.5)	(116.3)
Collateral received, financial assets	(161.1)	(167.1)
Net amount of assets subject to netting agreements	7.7	21.2
Derivative assets
Financial Asset Offsetting
Gross amount of recognized assets subject to netting agreements	186.3	287
Amount of liabilities that offset the gross amount of assets subject to netting agreements not offset in statement of financial position	(70.5)	(116.3)
Collateral received, financial assets	(108.1)	(149.5)
Net amount of assets subject to netting agreements	7.7	21.2
Gross amount of assets not subject to netting agreements	7.7	17
Reverse repurchase agreements
Financial Asset Offsetting
Gross amount of recognized assets subject to netting agreements	53	17.6
Collateral received, financial assets	$ (53)	$ (17.6)

Investments - Balance Sheet O_2

Investments - Balance Sheet Offsetting, Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Financial Liability Offsetting
Gross amount of recognized liabilities subject to netting agreements	$ 153.4	$ 272.5
Amount of assets that offset the gross amount of liabilities subject to netting agreements not offset in statement of financial position	(70.5)	(116.3)
Collateral pledged, financial liabilities	(52.3)	(143.5)
Net amount of liabilities subject to netting agreements	30.6	12.7
Derivative liabilities
Financial Liability Offsetting
Gross amount of recognized liabilities subject to netting agreements	153.4	272.5
Amount of assets that offset the gross amount of liabilities subject to netting agreements not offset in statement of financial position	(70.5)	(116.3)
Collateral pledged, financial liabilities	(52.3)	(143.5)
Net amount of liabilities subject to netting agreements	30.6	12.7
Gross amount of liabilities not subject to netting agreements	$ 138.3	$ 415.6

Derivative Financial Instrume_3

Derivative Financial Instruments - Notional Amounts and Credit Exposure (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Derivative Financial Instruments, exposure
Cash and securities posted under collateral arrangements associated with derivative credit support agreements and Futures Commission Merchant agreements	$ 106.6	$ 195
Aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a liability position	109.7	280.4
Collateral and initial margin posted supporting derivatives with credit-risk-related contingent features that were in a liability position	106.6	195
Additional collateral required to be posted if derivative credit-risk-related contingent features were triggered	28.9
Cash collateral received associated with derivative credit support annex agreements and Futures Commission Merchant agreements	79.5	124.7
Notional amount	49,954.5	40,916.6
Gross credit exposure	197.7	311.4
Less: collateral received	122.9	159.7
Net credit exposure	74.8	151.7
Interest rate swaps
Derivative Financial Instruments, exposure
Cash exchanged under contract	0
Principal payments made under contract	0
Notional amount	34,393.7	23,543.4
Gross credit exposure	95.4	163.4
Interest rate options
Derivative Financial Instruments, exposure
Notional amount	1,126.9	657
Gross credit exposure	16.3	19.8
Interest rate futures
Derivative Financial Instruments, exposure
Notional amount	260	236.5
Swaptions
Derivative Financial Instruments, exposure
Notional amount		14
Currency swaps
Derivative Financial Instruments, exposure
Notional amount	898.6	888.6
Gross credit exposure	71.2	79.1
Currency forwards
Derivative Financial Instruments, exposure
Notional amount	863.6	915.5
Gross credit exposure	2.8	24.3
Currency options
Derivative Financial Instruments, exposure
Notional amount	525.2	583.6
Gross credit exposure	1.9	1.6
Equity options
Derivative Financial Instruments, exposure
Notional amount	1,522.5	3,649.4
Gross credit exposure	7.7	18.2
Equity futures
Derivative Financial Instruments, exposure
Notional amount	491.7	357.8
Credit default swaps
Derivative Financial Instruments, exposure
Notional amount	420	668.5
Gross credit exposure	2.4	5
Embedded derivative financial instruments
Derivative Financial Instruments, exposure
Notional amount	$ 9,452.3	$ 9,402.3

Derivative Financial Instrume_4

Derivative Financial Instruments - Fair Value of Derivatives (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Derivatives, fair value disclosures
Derivative instruments, assets	$ 194	$ 304
Derivative instruments, liabilities	291.7	688.1
Fair value of embedded derivative liabilities reported with contractholder funds	45.2	160.3
Derivatives designated as hedging instruments
Derivatives, fair value disclosures
Derivative instruments, assets	37.6	39.6
Derivative instruments, liabilities	29.6	59.2
Derivatives not designated as hedging instruments
Derivatives, fair value disclosures
Derivative instruments, assets	156.4	264.4
Derivative instruments, liabilities	262.1	628.9
Interest rate contracts | Derivatives designated as hedging instruments
Derivatives, fair value disclosures
Derivative instruments, liabilities	16.1	22.9
Interest rate contracts | Derivatives not designated as hedging instruments
Derivatives, fair value disclosures
Derivative instruments, assets	108	175.2
Derivative instruments, liabilities	22.6	33.6
Foreign exchange contracts | Derivatives designated as hedging instruments
Derivatives, fair value disclosures
Derivative instruments, assets	37.6	39.6
Derivative instruments, liabilities	13.5	36.3
Foreign exchange contracts | Derivatives not designated as hedging instruments
Derivatives, fair value disclosures
Derivative instruments, assets	38.4	66.2
Derivative instruments, liabilities	72.9	26.3
Equity contracts | Derivatives not designated as hedging instruments
Derivatives, fair value disclosures
Derivative instruments, assets	7.7	18.2
Derivative instruments, liabilities	27.6	154.1
Credit contracts | Derivatives not designated as hedging instruments
Derivatives, fair value disclosures
Derivative instruments, assets	2.3	4.8
Derivative instruments, liabilities	4.4	1.5
Other contracts | Derivatives not designated as hedging instruments
Derivatives, fair value disclosures
Derivative instruments, liabilities	$ 134.6	$ 413.4

Derivative Financial Instrume_5

Derivative Financial Instruments - Credit Derivatives Sold (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Credit default swaps
Credit derivatives sold disclosures
Notional amount	$ 325	$ 525
Fair value	(2.3)	4.2
Maximum future payments	$ 325	$ 525
Weighted average expected life	1 year 4 months 24 days	1 year 3 months 18 days
Single name credit default swaps | Corporate debt securities | AAA
Credit derivatives sold disclosures
Notional amount	$ 10	$ 30
Fair value	0.1	0.3
Maximum future payments	$ 10	$ 30
Weighted average expected life	8 months 12 days	1 year 2 months 12 days
Single name credit default swaps | Corporate debt securities | AA
Credit derivatives sold disclosures
Notional amount		$ 30
Fair value		0.1
Maximum future payments		$ 30
Weighted average expected life		6 months
Single name credit default swaps | Corporate debt securities | A
Credit derivatives sold disclosures
Notional amount	$ 15	$ 105
Fair value	0.1	0.5
Maximum future payments	$ 15	$ 105
Weighted average expected life	1 year	7 months 6 days
Single name credit default swaps | Corporate debt securities | BBB
Credit derivatives sold disclosures
Notional amount	$ 190	$ 255
Fair value	0.4	2.5
Maximum future payments	$ 190	$ 255
Weighted average expected life	1 year 8 months 12 days	1 year 3 months 18 days
Single name credit default swaps | Corporate debt securities | BB
Credit derivatives sold disclosures
Notional amount	$ 10
Maximum future payments	$ 10
Weighted average expected life	6 months
Single name credit default swaps | Corporate debt securities | B
Credit derivatives sold disclosures
Notional amount		$ 20
Fair value		(0.5)
Maximum future payments		$ 20
Weighted average expected life		1 year 9 months 18 days
Single name credit default swaps | Corporate debt securities | CCC
Credit derivatives sold disclosures
Notional amount	$ 15
Fair value	(3.6)
Maximum future payments	$ 15
Weighted average expected life	10 months 24 days
Single name credit default swaps | Government/municipalities | AA
Credit derivatives sold disclosures
Notional amount	$ 20	$ 20
Fair value	0.2	0.3
Maximum future payments	$ 20	$ 20
Weighted average expected life	1 year	2 years
Single name credit default swaps | Sovereign | A
Credit derivatives sold disclosures
Notional amount	$ 10	$ 10
Fair value	0.1	0.2
Maximum future payments	$ 10	$ 10
Weighted average expected life	8 months 12 days	1 year 8 months 12 days
Single name credit default swaps | Sovereign | BBB
Credit derivatives sold disclosures
Notional amount	$ 55	$ 55
Fair value	0.4	0.8
Maximum future payments	$ 55	$ 55
Weighted average expected life	1 year 3 months 18 days	2 years 3 months 18 days

Derivative Financial Instrume_6

Derivative Financial Instruments - Fair Value Hedges (Details) - Fair Value Hedges - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Effect of derivatives in hedging relationships and the related hedged items on the consolidated statements of operations
Amount of gain (loss) recognized in net income on derivatives	$ 6.2	$ 4.1	$ 18.6
Amount of gain (loss) recognized in net income on related hedged item	(6.6)	(4.6)	(18.2)
Gain (loss) on periodic settlements on interest rate and foreign exchange contracts in fair value hedge of fixed maturities, available-for-sale reported in net investment income	(5.9)	(10.3)	(41.9)
Gain (loss) on periodic settlements on interest rate and foreign exchange contracts in fair value hedge of investment contracts reported in benefits, claims and settlement expenses		0.9	2.6
Interest rate contracts | Fixed maturities, available-for-sale
Effect of derivatives in hedging relationships and the related hedged items on the consolidated statements of operations
Amount of gain (loss) recognized in net income on derivatives	6.2	4.7	19.5
Amount of gain (loss) recognized in net income on related hedged item	$ (6.6)	(5.2)	(19.2)
Interest rate contracts | Investment contracts
Effect of derivatives in hedging relationships and the related hedged items on the consolidated statements of operations
Amount of gain (loss) recognized in net income on derivatives		(0.6)	(0.9)
Amount of gain (loss) recognized in net income on related hedged item		$ 0.6	$ 1

Derivative Financial Instrume_7

Derivative Financial Instruments - Cash Flow Hedges (Details) - Cash Flow Hedges - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Effect of derivatives in hedging relationships and the related hedged items on the consolidated statements of operations
Maximum length of time hedging exposure to variability in future cash flows for forecasted transactions	1 year 6 months
Gross unrealized gains (losses) reported in accumulated OCI related to active hedges of forecasted transactions	$ 0
Gross unrealized gains (losses) reclassified from AOCI into net capital gains (losses) due to hedged cash flows probable of not occurring	0.3	$ 0.2
Amount of gain (loss) recognized in accumulated OCI on derivatives (effective portion)	57.4	(120.2)	$ (21.5)
Amount of gain (loss) reclassified from accumulated OCI on derivatives (effective portion)	39.8	31.6	27.7
Gain (loss) on periodic settlements on interest rate and foreign exchange contracts in cash flow hedge of fixed maturities, available-for-sale reported in net investment income	6	7.1	5.8
Gain (loss) on periodic settlements on interest rate and foreign exchange contracts in cash flow hedge of investment contracts reported in benefits, claims and settlement expenses	(0.1)	(1.1)	(15.7)
Net gains (losses) expected to be reclassified from accumulated OCI into net income in the next 12 months	20.8
Interest rate contracts | Fixed maturities, available-for-sale
Effect of derivatives in hedging relationships and the related hedged items on the consolidated statements of operations
Amount of gain (loss) recognized in accumulated OCI on derivatives (effective portion)	36.7	(51.7)	(33.1)
Interest rate contracts | Fixed maturities, available-for-sale | Net investment income
Effect of derivatives in hedging relationships and the related hedged items on the consolidated statements of operations
Amount of gain (loss) reclassified from accumulated OCI on derivatives (effective portion)	20.9	21	19.3
Interest rate contracts | Fixed maturities, available-for-sale | Net realized capital gains (losses)
Effect of derivatives in hedging relationships and the related hedged items on the consolidated statements of operations
Amount of gain (loss) reclassified from accumulated OCI on derivatives (effective portion)	17	(0.6)	11.2
Interest rate contracts | Investment contracts
Effect of derivatives in hedging relationships and the related hedged items on the consolidated statements of operations
Amount of gain (loss) recognized in accumulated OCI on derivatives (effective portion)			1.6
Interest rate contracts | Investment contracts | Benefits, claims and settlement expenses
Effect of derivatives in hedging relationships and the related hedged items on the consolidated statements of operations
Amount of gain (loss) reclassified from accumulated OCI on derivatives (effective portion)	(0.1)
Interest rate contracts | Hedged debt | Operating expense
Effect of derivatives in hedging relationships and the related hedged items on the consolidated statements of operations
Amount of gain (loss) reclassified from accumulated OCI on derivatives (effective portion)	(10.7)	(10.8)	(9.2)
Foreign exchange contracts | Fixed maturities, available-for-sale
Effect of derivatives in hedging relationships and the related hedged items on the consolidated statements of operations
Amount of gain (loss) recognized in accumulated OCI on derivatives (effective portion)	20.8	(68.5)	4
Foreign exchange contracts | Fixed maturities, available-for-sale | Net realized capital gains (losses)
Effect of derivatives in hedging relationships and the related hedged items on the consolidated statements of operations
Amount of gain (loss) reclassified from accumulated OCI on derivatives (effective portion)	12.7	$ 22	6.4
Foreign exchange contracts | Investment contracts
Effect of derivatives in hedging relationships and the related hedged items on the consolidated statements of operations
Amount of gain (loss) recognized in accumulated OCI on derivatives (effective portion)	$ (0.1)		$ 6

Derivative Financial Instrume_8

Derivative Financial Instruments - Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Effect of derivatives not designated as hedging instruments on the consolidated statements of operations
Amount of gain (loss) recognized in net income on derivatives	$ (15.9)	$ (153.2)	$ 172.5
Interest rate contracts
Effect of derivatives not designated as hedging instruments on the consolidated statements of operations
Amount of gain (loss) recognized in net income on derivatives	(27.6)	(26.9)	243.3
Foreign exchange contracts
Effect of derivatives not designated as hedging instruments on the consolidated statements of operations
Amount of gain (loss) recognized in net income on derivatives	(64.2)	59.4	20.1
Equity contracts
Effect of derivatives not designated as hedging instruments on the consolidated statements of operations
Amount of gain (loss) recognized in net income on derivatives	(31)	(181.3)	(123.5)
Credit contracts
Effect of derivatives not designated as hedging instruments on the consolidated statements of operations
Amount of gain (loss) recognized in net income on derivatives	(1.6)	(15.9)	37.4
Other contracts
Effect of derivatives not designated as hedging instruments on the consolidated statements of operations
Amount of gain (loss) recognized in net income on derivatives	$ 108.5	$ 11.5	$ (4.8)

Closed Block - Assets and Liabi

Closed Block - Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Closed Block liabilities and assets designated to the Closed Block
Closed Block liabilities: Policyholder dividend obligation related to net unrealized gains	$ 36.6	$ 161.7
Closed Block liabilities
Closed Block liabilities: Future policy benefits and claims	3,732.5	3,899.7
Closed Block liabilities: Other policyholder funds	6.5	7
Closed Block liabilities: Policyholder dividends payable	211.3	219.6
Closed Block liabilities: Policyholder dividends obligation	36.6	161.7
Closed Block liabilities: Other liabilities	9.5	6.9
Total Closed Block liabilities	3,996.4	4,294.9
Assets designated to the Closed Block
Closed Block assets: Fixed maturities, available-for-sale	2,176.4	2,304.4
Closed Block assets: Fixed maturities, trading	2.5	2.9
Closed Block assets: Equity securities	1	1.3
Closed Block assets: Mortgage loans	678.5	766.3
Closed Block assets: Policy loans	510.5	537.1
Closed Block assets: Other investments	33.8	49.4
Closed Block assets: Total investments	3,402.7	3,661.4
Closed Block assets: Cash and cash equivalents	42.1	13.2
Closed Block assets: Accrued investment income	39.5	41.1
Closed Block assets: Premiums due and other receivables	10	14.4
Closed Block assets: Deferred tax asset	30.5	34.6
Total assets designated to the Closed Block	3,524.8	3,764.7
Excess of Closed Block liabilities over assets designated to the Closed Block	471.6	530.2
Amounts included in accumulated other comprehensive income (loss)	5.2	1.9
Maximum future earnings to be recognized from Closed Block assets and liabilities	$ 476.8	$ 532.1	$ 549.8	$ 596.4

Closed Block - Revenues and Exp

Closed Block - Revenues and Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues
Closed Block: Premiums and other considerations	$ 244.2	$ 275.6	$ 298
Closed Block: Net investment income (loss)	160.5	169.4	181.6
Closed Block: Net realized capital gains (losses)	(3.4)	(5.8)	(1)
Closed Block: Total revenues	401.3	439.2	478.6
Expenses
Closed Block: Benefits, claims and settlement expenses	211.5	245.6	267.1
Closed Block: Dividends to policyholders	120.9	122	153.5
Closed Block: Operating expenses	3.3	3.5	3.6
Closed Block: Total expenses	335.7	371.1	424.2
Closed Block revenues, net of Closed Block expenses, before income taxes	65.6	68.1	54.4
Closed Block: Income taxes (benefits)	11.1	46	17.1
Closed Block revenues, net of Closed Block expenses and income taxes	54.5	22.1	37.3
Funding adjustment charges	(0.5)	(4.4)	9.3
Closed Block revenues, net of Closed Block expenses, income taxes and funding adjustments	$ 54	$ 17.7	$ 46.6

Closed Block - Change in Maximu

Closed Block - Change in Maximum Future Earnings (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Change in maximum future earnings of the Closed Block
Maximum future earnings to be recognized from Closed Block assets and liabilities, Beginning of year	$ 532.1	$ 549.8	$ 596.4
Effects of implementation of accounting changes	1.3
Maximum future earnings to be recognized from Closed Block assets and liabilities, End of year	476.8	532.1	549.8
Closed Block revenues, net of Closed Block expenses, income taxes and funding adjustment charges	$ (54)	$ (17.7)	$ (46.6)

Deferred Acquisition Costs (Det

Deferred Acquisition Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Change in deferred acquisition costs
Balance at beginning of year, deferred acquisition costs	$ 3,540.7	$ 3,380.2	$ 3,276.1
Costs deferred during the year	414.9	421.8	402.3
Amortization of deferred acquisition costs	(253.5)	(234.6)	(285.1)
Adjustment related to unrealized (gains) losses on available-for-sale securities and derivative instruments	184.9	(26.7)	(13.1)
Other	(193.5)
Balance at end of year, deferred acquisition costs	$ 3,693.5	$ 3,540.7	$ 3,380.2

Insurance Liabilities - Compone

Insurance Liabilities - Components of Contractholder Funds (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Liabilities for investment contracts:
Liabilities for individual annuities	$ 12,913.9	$ 11,336.2
GICs	10,321.7	9,969.1
Funding agreements	7,729.5	8,106.5
Other investment contracts	1,652.2	1,751.5
Total liabilities for investment contracts	32,617.3	31,163.3
Universal life and other reserves	7,082.4	6,919.2
Contractholder funds	$ 39,699.7	$ 38,082.5

Insurance Liabilities - Contrac

Insurance Liabilities - Contractholder Funding Agreements (Details) $ in Millions, € in Billions	12 Months Ended
	Dec. 31, 2018USD ($)item	Dec. 31, 2017USD ($)	Nov. 30, 2017USD ($)	Jun. 30, 2015USD ($)	Dec. 31, 2011USD ($)	Dec. 31, 2006EUR (€)	Dec. 31, 2006USD ($)	Mar. 31, 2004USD ($)	Dec. 31, 2001USD ($)	Dec. 31, 1998USD ($)
Funding agreement disclosures
Funding agreements	$ 7,729.5	$ 8,106.5
Principal Life Insurance Company
Funding agreement disclosures
Number of separate funding agreement programs | item	5
Number of funding agreement programs not guaranteed by PFG | item	3
Principal Life Insurance Company | FHLB Des Moines funding agreement program
Funding agreement disclosures
Funding agreements	$ 3,512.2	3,256.7
Principal Life Insurance Company | 1998 Funding agreement program
Funding agreement disclosures
Maximum authorized amount of funding agreements to be issued										$ 4,000
Funding agreements	109.6	111.1
Principal Life Insurance Company | 2006 Funding agreement program
Funding agreement disclosures
Maximum authorized amount of funding agreements to be issued						€ 4	$ 5,300
Funding agreements	114.4	177.4
Principal Life Insurance Company | 2001 Funding agreement program
Funding agreement disclosures
Maximum authorized amount of funding agreements to be issued									$ 7,000
Funding agreements	201.6	201.6
Principal Life Insurance Company | 2004 Funding agreement program
Funding agreement disclosures
Maximum authorized amount of funding agreements to be issued								$ 9,000
Funding agreements	26.2	67.8
Principal Life Insurance Company | 2011 Funding agreement program
Funding agreement disclosures
Maximum authorized amount of funding agreements to be issued					$ 5,000
Funding agreements	$ 3,765.3	$ 4,291.9
Additional maximum authorized amount of funding agreements to be issued			$ 4,000	$ 4,000
Amount of funding agreement authorization used at time additional amount authorized				$ 5,000

Insurance Liabilities - Liabili

Insurance Liabilities - Liability for Unpaid Claims (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Change in unpaid claims
Balance at beginning of period, unpaid claims	$ 2,130.5	$ 2,001.3	$ 1,872.2
Balance at beginning of period, reinsurance recoverables for unpaid claims	375.8	340.3	314.1
Net balance at beginning of period, unpaid claims	1,754.7	1,661	1,558.1
Incurred:
Incurred: Current year	1,268.8	1,196.6	1,103.5
Incurred: Prior years	0.3	18.2	24.4
Total incurred	1,269.1	1,214.8	1,127.9
Payments:
Payments: Current year	815.7	767.2	701.9
Payments: Prior years	359.7	353.9	323.1
Total payments	1,175.4	1,121.1	1,025
Net balance at end of period, unpaid claims	1,848.4	1,754.7	1,661
Balance at end of period, reinsurance recoverables for unpaid claims	404.3	375.8	340.3
Balance at end of period, unpaid claims	2,252.7	2,130.5	2,001.3
Amount not included in the rollforward above:
Claim adjustment expense liabilities	$ 54.6	$ 50.7	$ 49.3

Insurance Liabilities - Claims

Insurance Liabilities - Claims Development Tables (Details) $ in Millions	Dec. 31, 2018USD ($)claim	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2012USD ($)	Dec. 31, 2011USD ($)	Dec. 31, 2010USD ($)	Dec. 31, 2009USD ($)
Claims Development [Line Items]
Total outstanding liabilities for unpaid claims net of reinsurance	$ 1,278.1
Long-Term Disability/Group Life Waiver
Claims Development [Line Items]
Net incurred claims	1,996.4
Net cumulative paid claims	1,063.3
Liability for unpaid claims net, not separately presented	237.4
Total outstanding liabilities for unpaid claims net of reinsurance	1,170.5
Long-Term Disability/Group Life Waiver | Incurral year 2009
Claims Development [Line Items]
Net incurred claims	203.9	$ 205.6	$ 205.8	$ 208.5	$ 214.1	$ 217.7	$ 224.8	$ 224.2	$ 224.4	$ 218.6
Incurred but not reported claims	$ 0.7
Cumulative number of reported claims | claim	6,555
Net cumulative paid claims	$ 156.4	149.8	141.8	133.1	124.6	113.8	101	82.6	55.2	$ 13.4
Long-Term Disability/Group Life Waiver | Incurral year 2010
Claims Development [Line Items]
Net incurred claims	152.1	153.4	154.1	155.7	162.7	172	176.2	176.7	184.1
Incurred but not reported claims	$ 0.6
Cumulative number of reported claims | claim	5,649
Net cumulative paid claims	$ 112.1	107.2	100.9	94.2	85.9	78.4	67.1	46.5	$ 10.4
Long-Term Disability/Group Life Waiver | Incurral year 2011
Claims Development [Line Items]
Net incurred claims	167.6	169.6	172.3	178.4	184.8	185.4	192.6	203.7
Incurred but not reported claims	$ 0.1
Cumulative number of reported claims | claim	6,289
Net cumulative paid claims	$ 119.3	112.6	105.2	95.4	85.7	72.5	50	$ 11.2
Long-Term Disability/Group Life Waiver | Incurral year 2012
Claims Development [Line Items]
Net incurred claims	173.3	174.8	181.8	189.5	191.1	200	217.9
Incurred but not reported claims	$ 0.1
Cumulative number of reported claims | claim	6,443
Net cumulative paid claims	$ 120	112.9	104.6	93.7	80.8	55.1	$ 13.8
Long-Term Disability/Group Life Waiver | Incurral year 2013
Claims Development [Line Items]
Net incurred claims	179.5	182.3	190.7	188.4	203.3	219.3
Incurred but not reported claims	$ 0.1
Cumulative number of reported claims | claim	7,047
Net cumulative paid claims	$ 116.4	106.4	97	81.4	55	$ 12.5
Long-Term Disability/Group Life Waiver | Incurral year 2014
Claims Development [Line Items]
Net incurred claims	206.2	218.1	214.4	231.4	242.2
Incurred but not reported claims	$ 0.1
Cumulative number of reported claims | claim	7,595
Net cumulative paid claims	$ 122.3	111.8	96.3	66	$ 16.1
Long-Term Disability/Group Life Waiver | Incurral year 2015
Claims Development [Line Items]
Net incurred claims	215.3	217.2	227.2	231
Incurred but not reported claims	$ 5.1
Cumulative number of reported claims | claim	7,170
Net cumulative paid claims	$ 114.6	98	67	$ 16.9
Long-Term Disability/Group Life Waiver | Incurral year 2016
Claims Development [Line Items]
Net incurred claims	219.4	228.4	229.8
Incurred but not reported claims	$ 7
Cumulative number of reported claims | claim	6,144
Net cumulative paid claims	$ 105.6	70.6	$ 16.2
Long-Term Disability/Group Life Waiver | Incurral year 2017
Claims Development [Line Items]
Net incurred claims	239.7	238.4
Incurred but not reported claims	$ 3.1
Cumulative number of reported claims | claim	5,991
Net cumulative paid claims	$ 76.5	17.8
Long-Term Disability/Group Life Waiver | Incurral year 2018
Claims Development [Line Items]
Net incurred claims	239.4
Incurred but not reported claims	$ 85.4
Cumulative number of reported claims | claim	3,516
Net cumulative paid claims	$ 20.1
Dental/Vision/Short-Term Disability/Critical Illness/Accident
Claims Development [Line Items]
Net incurred claims	1,238.9
Net cumulative paid claims	1,179.6
Total outstanding liabilities for unpaid claims net of reinsurance	59.3
Dental/Vision/Short-Term Disability/Critical Illness/Accident | Incurral year 2017
Claims Development [Line Items]
Net incurred claims	$ 590.6	595.8
Cumulative number of reported claims | claim	2,786,877
Net cumulative paid claims	$ 590.5	542.3
Dental/Vision/Short-Term Disability/Critical Illness/Accident | Incurral year 2018
Claims Development [Line Items]
Net incurred claims	648.3
Incurred but not reported claims	$ 35.9
Cumulative number of reported claims | claim	2,893,347
Net cumulative paid claims	$ 589.1
Group Life
Claims Development [Line Items]
Net incurred claims	477.2
Net cumulative paid claims	429.9
Liability for unpaid claims net, not separately presented	1
Total outstanding liabilities for unpaid claims net of reinsurance	48.3
Group Life | Incurral year 2017
Claims Development [Line Items]
Net incurred claims	237.6	239.8
Incurred but not reported claims	$ 0.7
Cumulative number of reported claims | claim	5,618
Net cumulative paid claims	$ 236	$ 195.2
Group Life | Incurral year 2018
Claims Development [Line Items]
Net incurred claims	239.6
Incurred but not reported claims	$ 22
Cumulative number of reported claims | claim	4,735
Net cumulative paid claims	$ 193.9

Insurance Liabilities - Reconci

Insurance Liabilities - Reconciliation of Unpaid Claims to Liability for Unpaid Claims Table (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Net outstanding liabilities for unpaid claims	$ 1,278.1
Reconciling items
Reinsurance recoverable on unpaid claims	68.6
Impact of discounting	(217.7)
Liability for unpaid claims - short duration contracts	1,129
Insurance contracts other than short duration	1,123.7
Liability for unpaid claims	2,252.7	$ 2,130.5	$ 2,001.3	$ 1,872.2
Long-Term Disability/Group Life Waiver
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Net outstanding liabilities for unpaid claims	1,170.5
Reconciling items
Reinsurance recoverable on unpaid claims	67.2
Impact of discounting	(217.7)	(226.2)
Liability for unpaid claims - short duration contracts	1,020	1,003.2
Dental/Vision/Short-Term Disability/Critical Illness/Accident
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Net outstanding liabilities for unpaid claims	59.3
Reconciling items
Liability for unpaid claims - short duration contracts	59.3	53.6
Group Life
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Net outstanding liabilities for unpaid claims	48.3
Reconciling items
Reinsurance recoverable on unpaid claims	1.4
Liability for unpaid claims - short duration contracts	$ 49.7	$ 47.3

Insurance Liabilities - Claim D

Insurance Liabilities - Claim Duration and Payout Table (Details)	Dec. 31, 2018
Long-Term Disability/Group Life Waiver
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	7.40%
Year 2	23.60%
Year 3	14.40%
Year 4	8.00%
Year 5	5.60%
Year 6	5.40%
Year 7	4.30%
Year 8	4.10%
Year 9	3.60%
Year 10	3.20%
Dental/Vision/Short-Term Disability/Critical Illness/Accident
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	91.80%
Year 2	8.00%
Group Life
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	81.80%
Year 2	17.20%

Insurance Liabilities - Discoun

Insurance Liabilities - Discounting Table (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Short-duration Insurance Contracts, Discounted Liabilities [Line Items]
Carrying amount of liabilities for unpaid claims	$ 1,129
Aggregate amount of discount	217.7
Long-Term Disability/Group Life Waiver
Short-duration Insurance Contracts, Discounted Liabilities [Line Items]
Carrying amount of liabilities for unpaid claims	1,020	$ 1,003.2
Aggregate amount of discount	217.7	226.2
Interest accretion	$ 34.5	$ 35	$ 36.3
Long-Term Disability/Group Life Waiver | Minimum
Short-duration Insurance Contracts, Discounted Liabilities [Line Items]
Discount rate	3.30%	3.30%
Long-Term Disability/Group Life Waiver | Maximum
Short-duration Insurance Contracts, Discounted Liabilities [Line Items]
Discount rate	7.00%	7.00%
Dental/Vision/Short-Term Disability/Critical Illness/Accident
Short-duration Insurance Contracts, Discounted Liabilities [Line Items]
Carrying amount of liabilities for unpaid claims	$ 59.3	$ 53.6
Group Life
Short-duration Insurance Contracts, Discounted Liabilities [Line Items]
Carrying amount of liabilities for unpaid claims	$ 49.7	$ 47.3

Debt - Short-Term Debt (Details

Debt - Short-Term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Short-Term Debt
Credit facilities	$ 1,001.4	$ 952.3
Short-term debt	$ 42.9	$ 39.5
Weighted-average interest rates on short-term borrowings (as a percent)	3.90%	4.70%
Credit facility maturing November 2023 | PFG, PFS, Principal Life as co-borrowers
Short-Term Debt
Credit facilities	$ 600
Credit facility maturing November 2023 | PFG, PFS, Principal Life and Principal Financial Services V (UK) LTD as co-borrowers
Short-Term Debt
Credit facilities	200
Credit facility maturing March 2022 | PFG, PFS, Principal Life as co-borrowers
Short-Term Debt
Credit facilities		$ 600
Credit facility maturing March 2022 | PFG, PFS, Principal Life and Principal Financial Services V (UK) LTD as co-borrowers
Short-Term Debt
Credit facilities		189
Credit facility maturing March 2020 | PFG, PFS, Principal Life and Principal Financial Services V (UK) LTD as co-borrowers
Short-Term Debt
Credit facilities		11
Unsecured lines of credit | Principal International Chile
Short-Term Debt
Credit facilities	141.4	107.3
Short-term debt	42.9	39.5
Unsecured line of credit maturing September 2019 | Principal Life Insurance Company
Short-Term Debt
Credit facilities	$ 60
Unsecured line of credit maturing December 2018 | Principal Life Insurance Company
Short-Term Debt
Credit facilities		$ 45
Commercial paper
Short-Term Debt
Support provided by back-stop facility for commercial paper program (as a percent)	100.00%	100.00%
Back-stop facility outstanding balances	$ 0	$ 0

Debt - Components of Long-Term

Debt - Components of Long-Term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Long-Term Debt
Long-term debt principal	$ 3,284.1	$ 3,204.6
Net unamortized discount, premium and debt issuance costs	(24.5)	(26.2)
Long-term debt carrying amount	$ 3,259.6	$ 3,178.4
3.3% notes payable, due 2022
Long-Term Debt
Interest rate (as a percent)	3.30%	3.30%
Long-term debt principal	$ 300	$ 300
Net unamortized discount, premium and debt issuance costs	(1.5)	(1.9)
Long-term debt carrying amount	$ 298.5	$ 298.1
3.125% notes payable, due 2023
Long-Term Debt
Interest rate (as a percent)	3.125%	3.125%
Long-term debt principal	$ 300	$ 300
Net unamortized discount, premium and debt issuance costs	(1.2)	(1.5)
Long-term debt carrying amount	$ 298.8	$ 298.5
3.4% notes payable, due 2025
Long-Term Debt
Interest rate (as a percent)	3.40%	3.40%
Long-term debt principal	$ 400	$ 400
Net unamortized discount, premium and debt issuance costs	(3)	(3.5)
Long-term debt carrying amount	$ 397	$ 396.5
3.1% notes payable, due 2026
Long-Term Debt
Interest rate (as a percent)	3.10%	3.10%
Long-term debt principal	$ 350	$ 350
Net unamortized discount, premium and debt issuance costs	(2.7)	(3.1)
Long-term debt carrying amount	$ 347.3	$ 346.9
6.05% notes payable, due 2036
Long-Term Debt
Interest rate (as a percent)	6.05%	6.05%
Long-term debt principal	$ 505.6	$ 505.6
Net unamortized discount, premium and debt issuance costs	(2.6)	(2.7)
Long-term debt carrying amount	$ 503	$ 502.9
4.625% notes payable, due 2042
Long-Term Debt
Interest rate (as a percent)	4.625%	4.625%
Long-term debt principal	$ 300	$ 300
Net unamortized discount, premium and debt issuance costs	(3.3)	(3.3)
Long-term debt carrying amount	$ 296.7	$ 296.7
4.35% notes payable, due 2043
Long-Term Debt
Interest rate (as a percent)	4.35%	4.35%
Long-term debt principal	$ 300	$ 300
Net unamortized discount, premium and debt issuance costs	(3.3)	(3.4)
Long-term debt carrying amount	$ 296.7	$ 296.6
4.3% notes payable, due 2046
Long-Term Debt
Interest rate (as a percent)	4.30%	4.30%
Long-term debt principal	$ 300	$ 300
Net unamortized discount, premium and debt issuance costs	(3.3)	(3.4)
Long-term debt carrying amount	$ 296.7	$ 296.6
4.7% notes payable, due 2055
Long-Term Debt
Interest rate (as a percent)	4.70%	4.70%
Long-term debt principal	$ 400	$ 400
Net unamortized discount, premium and debt issuance costs	(4.9)	(5)
Long-term debt carrying amount	395.1	395
Non-recourse mortgages and notes payable
Long-Term Debt
Long-term debt principal	128.5	49
Net unamortized discount, premium and debt issuance costs	1.3	1.6
Long-term debt carrying amount	$ 129.8	$ 50.6

Debt - Senior Notes and Junior

Debt - Senior Notes and Junior Subordinated Notes (Details) - USD ($) $ in Millions

May 07, 2015

Sep. 05, 2012

Aug. 15, 2009

Dec. 31, 2016

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Nov. 10, 2016

Nov. 16, 2012

May 18, 2009

Dec. 05, 2006

Oct. 16, 2006

Long-Term Debt

Principal repayments of long-term debt

$ 1.3

$ 56.5

$ 799.3

Maximum | Junior subordinated notes

Long-Term Debt

Years interest payments on debt can be deferred

5 years

3.1% notes payable, due 2026 and 4.3% notes payable, due 2046 | Senior notes

Long-Term Debt

Long-term debt issued

$ 650

3.1% notes payable, due 2026

Long-Term Debt

Interest rate (as a percent)

3.10%

3.10%

3.1% notes payable, due 2026 | Senior notes

Long-Term Debt

Long-term debt issued

$ 350

Interest rate (as a percent)

3.10%

4.3% notes payable, due 2046

Long-Term Debt

Interest rate (as a percent)

4.30%

4.30%

4.3% notes payable, due 2046 | Senior notes

Long-Term Debt

Long-term debt issued

$ 300

Interest rate (as a percent)

4.30%

3.4% notes payable, due 2025

Long-Term Debt

Interest rate (as a percent)

3.40%

3.40%

3.4% notes payable, due 2025 | Senior notes

Long-Term Debt

Long-term debt issued

$ 400

Interest rate (as a percent)

3.40%

4.7% notes payable, due 2055

Long-Term Debt

Interest rate (as a percent)

4.70%

4.70%

4.7% notes payable, due 2055 | Junior subordinated notes

Long-Term Debt

Long-term debt issued

$ 400

Interest rate (as a percent)

4.70%

Reference rate for floating rate of debt instrument

3-month LIBOR

Spread added to floating reference interest rate (as a percent)

3.044%

1.85% notes payable, due 2017; 3.125% notes payable, due 2023; and 4.35% notes payable, due 2043 | Senior notes

Long-Term Debt

Long-term debt issued

$ 900

1.85% notes payable, due 2017 | Senior notes

Long-Term Debt

Long-term debt issued

$ 300

Interest rate (as a percent)

1.85%

3.125% notes payable, due 2023

Long-Term Debt

Interest rate (as a percent)

3.125%

3.125%

3.125% notes payable, due 2023 | Senior notes

Long-Term Debt

Long-term debt issued

$ 300

Interest rate (as a percent)

3.125%

4.35% notes payable, due 2043

Long-Term Debt

Interest rate (as a percent)

4.35%

4.35%

4.35% notes payable, due 2043 | Senior notes

Long-Term Debt

Long-term debt issued

$ 300

Interest rate (as a percent)

4.35%

3.3% notes payable, due 2022 and 4.625% notes payable, due 2042 | Senior notes

Long-Term Debt

Long-term debt issued

$ 600

3.3% notes payable, due 2022

Long-Term Debt

Interest rate (as a percent)

3.30%

3.30%

3.3% notes payable, due 2022 | Senior notes

Long-Term Debt

Long-term debt issued

$ 300

Interest rate (as a percent)

3.30%

4.625% notes payable, due 2042

Long-Term Debt

Interest rate (as a percent)

4.625%

4.625%

4.625% notes payable, due 2042 | Senior notes

Long-Term Debt

Long-term debt issued

$ 300

Interest rate (as a percent)

4.625%

7.875% notes payable, due 2014 and 8.875% notes payable, due 2019 | Senior notes

Long-Term Debt

Long-term debt issued

$ 750

7.875% notes payable, due 2014 | Senior notes

Long-Term Debt

Long-term debt issued

$ 400

Interest rate (as a percent)

7.875%

Principal repayments of long-term debt

$ 400

8.875% notes payable, due 2019 | Senior notes

Long-Term Debt

Long-term debt issued

$ 350

Interest rate (as a percent)

8.875%

8.2% notes payable, due 2009 | Senior notes

Long-Term Debt

Principal repayments of long-term debt

$ 440.9

6.05% notes payable, due 2036

Long-Term Debt

Interest rate (as a percent)

6.05%

6.05%

6.05% notes payable, due 2036 | Senior notes

Long-Term Debt

Principal repayments of long-term debt

$ 94.4

6.05% notes payable, due 2036, issued in October 2006 | Senior notes

Long-Term Debt

Long-term debt issued

$ 500

Interest rate (as a percent)

6.05%

6.05% notes payable, due 2036, issued in December 2006 | Senior notes

Long-Term Debt

Long-term debt issued

$ 100

Interest rate (as a percent)

6.05%

Debt - Non-Recourse Mortgages a

Debt - Non-Recourse Mortgages and Notes Payable (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Long-Term Debt
Outstanding principal balances	$ 3,284.1	$ 3,204.6
Non-recourse mortgages and notes payable
Long-Term Debt
Outstanding principal balances	128.5	49
Outstanding principal balances per real estate development, low end of range	3.8	2.8
Outstanding principal balances per real estate development, high end of range	58.4	16.4
Real estate	$ 307.3	$ 179.6
Non-recourse mortgages and notes payable | Minimum
Long-Term Debt
Interest rate (as a percent)	3.90%	3.90%
Non-recourse mortgages and notes payable | Maximum
Long-Term Debt
Interest rate (as a percent)	4.80%	4.80%

Debt - Future Maturities of Lon

Debt - Future Maturities of Long-Term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Future maturities of long-term debt
Year 1: Long-term debt maturities	$ 26.7
Year 2: Long-term debt maturities	59.8
Year 4: Long-term debt maturities	298.5
Year 5: Long-term debt maturities	298.8
Year 6 and thereafter: Long-term debt maturities	2,575.8
Long-term debt carrying amount	$ 3,259.6	$ 3,178.4

Debt - Contingent Funding Agree

Debt - Contingent Funding Agreements (Details) $ in Millions	Mar. 08, 2018USD ($)item
Contingent funding agreements
Long-Term Debt
Number of contingent funding agreements | item	2
Period failure to make payments to trust can be cured before automatic exercise of put options	30 days
Minimum shareholders' equity excluding AOCI and NCI, to avoid automatic exercise of options	$ 4,000
10-year contingent funding agreement | 2028 Trust
Long-Term Debt
Term of contingent funding agreement	10 years
Semi-annual put premium (as a percent)	1.275%
10-year contingent funding agreement | 2028 Trust | Senior Notes due 2028
Long-Term Debt
Amount of notes issuable under option	$ 400
Interest rate (as a percent)	4.111%
30-year contingent funding agreement | 2048 Trust
Long-Term Debt
Term of contingent funding agreement	30 years
Annual put premium (as a percent)	1.58%
30-year contingent funding agreement | 2048 Trust | Senior Notes due 2048
Long-Term Debt
Amount of notes issuable under option	$ 350
Interest rate (as a percent)	4.682%
2028 Trust
Long-Term Debt
Pre-capitalized trust securities sold	$ 400
2048 Trust
Long-Term Debt
Pre-capitalized trust securities sold	$ 350

Income Taxes - Income Tax Expen

Income Taxes - Income Tax Expense and Income Before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Taxes
Current income taxes (benefits): U.S. federal	$ (48.9)	$ (4.4)	$ 38.6
Current income taxes (benefits): State	10.3	48.9	(1.9)
Current income taxes (benefits): Foreign	51.7	38.1	36.6
Current income taxes (benefits): Tax benefit of operating loss carryforwards	(13.5)	(21.5)	(17.5)
Total current income taxes (benefits)	(0.4)	61.1	55.8
Deferred income taxes (benefits): U.S. federal	224.3	(208.2)	171.7
Deferred income taxes (benefits): State	19.2	42.5	(20.6)
Deferred income taxes (benefits): Foreign	(12.4)	32.3	23
Deferred income taxes (benefits)	231.1	(133.4)	174.1
Income taxes (benefits)	230.7	(72.3)	229.9
Income (loss) before income taxes
Income (loss) before income taxes - domestic	1,658.1	1,848.5	1,261.4
Income (loss) before income taxes - foreign	126.3	403.7	330.3
Income (loss) before income taxes	$ 1,784.4	$ 2,252.2	$ 1,591.7

Income Taxes - Effective Income

Income Taxes - Effective Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reconciliation between the U.S. corporate income tax rate and the effective income tax rate from continuing operations
U.S. corporate income tax rate (as a percent)	21.00%	35.00%	35.00%
Dividends received deduction (as a percent)	(4.00%)	(8.00%)	(10.00%)
Impact of the Tax Cuts and Jobs Act (as a percent)	(3.00%)	(25.00%)
Tax credits (as a percent)	(3.00%)	(2.00%)	(2.00%)
Impact of equity method presentation (as a percent)	(1.00%)	(2.00%)	(3.00%)
Interest exclusion from taxable income (as a percent)	(1.00%)	(1.00%)	(1.00%)
State income taxes (as a percent)	1.00%	2.00%
Local country permanent tax adjustments (as a percent)	1.00%
Other income tax rate impacts (as a percent)	2.00%	(2.00%)	(5.00%)
Effective income tax rate (as a percent)	13.00%	(3.00%)	14.00%

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Changes in Unrecognized Tax Benefits
Beginning balance, Unrecognized tax benefits	$ 194.1	$ 207.8
Additions based on tax positions related to the current year	0.8	7.2
Additions for tax positions of prior years	43.7	20.2
Reductions for tax positions related to the current year	(10.6)	(3.3)
Reductions for tax positions of prior years	(23.2)	(1.1)
Settlements	(162.7)	(36.7)
Ending balance, Unrecognized tax benefits	42.1	194.1
Amount of unrecognized tax benefits that would reduce the effective income tax rate, if recognized	4.9
Accumulated pre-tax interest and penalties related to unrecognized tax benefits	$ 1.6	$ 125.5

Income Taxes - Deferred Income

Income Taxes - Deferred Income Taxes and Other (Details) - USD ($) $ in Millions	12 Months Ended			24 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2018
Income Taxes
U.S. statutory tax rate (as a percent)	21.00%	35.00%	35.00%
Deferred income tax assets:
Insurance liabilities		$ 26.3
Investments, including derivative liabilities	$ 165.6	205.8		$ 165.6
Net operating and capital loss carryforwards	80.8	68.3		80.8
Tax credit carryforwards	163.3	307.5		163.3
Employee benefits	327.3	314.5		327.3
Foreign currency translation	28.1	20.4		28.1
Other deferred income tax assets	33.8	42.7		33.8
Gross deferred income tax assets	798.9	985.5		798.9
Valuation allowance	(17)	(5.2)		(17)
Total deferred income tax assets	781.9	980.3		781.9
Deferred income tax liabilities:
Deferred acquisition costs	(615.8)	(587)		(615.8)
Investments, including derivative assets	(298.1)	(343.9)		(298.1)
Net unrealized gains on available-for-sale securities	(98.1)	(597.9)		(98.1)
Real estate	(144.9)	(147.1)		(144.9)
Intangible assets	(310)	(253.9)		(310)
Insurance liabilities	(60.2)			(60.2)
Repatriation toll charge		(19.8)
Other deferred income tax liabilities	(71.9)	(74.8)		(71.9)
Total deferred income tax liabilities	(1,599)	(2,024.4)		(1,599)
Total net deferred income tax liabilities	(817.1)	(1,044.1)		(817.1)
Net deferred income taxes by jurisdiction
Net deferred income tax assets	141.3	48.4		141.3
Net deferred income tax liabilities	(958.4)	(1,092.5)		(958.4)
Total net deferred income tax liabilities	(817.1)	(1,044.1)		(817.1)
Deferred income tax disclosures
One-time deemed repatriation tax, provisional amount		43
Adjustment to one-time deemed repatriation tax	5.9
One-time deemed repatriation tax, final determination amount				48.9
Accumulated but undistributed earnings from operations of foreign subsidiaries for which U.S. federal and state deferred income taxes have not been provided	1,184	1,331.2		1,184
Excess book carrying value over tax basis with respect to the original investment of foreign subsidiaries for which U.S. federal and state deferred income taxes have not been provided	106.2			106.2
Current income tax receivables associated with outstanding audit issues
Current income tax (receivables) payables associated with outstanding audit issues	(193)	(231.8)		(193)
U.S. Federal
Deferred income tax assets:
Tax credit carryforwards	163.3	307.5		163.3
Net deferred income taxes by jurisdiction
Net deferred income tax liabilities	(708.2)	(803.9)		(708.2)
State
Net deferred income taxes by jurisdiction
Net deferred income tax assets	108.2	10.9		108.2
Deferred income tax disclosures-operating loss carryforwards
Net operating loss carryforwards	309.6	366.1		309.6
Foreign
Net deferred income taxes by jurisdiction
Net deferred income tax assets	33.1	37.5		33.1
Net deferred income tax liabilities	(250.2)	(288.6)		(250.2)
Deferred income tax disclosures-operating loss carryforwards
Net operating loss carryforwards	191.3	125.6		191.3
Valuation allowances on income tax benefits primarily associated with foreign net operating loss carryforwards	$ 17	$ 5.2		$ 17

Employee and Agent Benefits - P

Employee and Agent Benefits - Plan Information (Details)	12 Months Ended
	Dec. 31, 2018
Pension benefits
Defined Benefit Plan Disclosures
Eligibility age	21 years
Period of employment used to calculate average annual compensation for the final average pay benefit	5 years
Maximum age used to calculate a partial benefit accrual of final average pay benefits	65 years
Minimum years of potential service used to calculate a partial benefit accrual of final average pay benefits	35 years
Other postretirement benefits
Defined Benefit Plan Disclosures
Eligibility age	57 years
Eligibility service period	10 years
Retiree health benefits
Defined Benefit Plan Disclosures
Participant contributions as a percent of expected cost of coverage for employees hired prior to January 1, 2002, and who retired on or after January 1, 2011 (as a percent)	60.00%

Employee and Agent Benefits - B

Employee and Agent Benefits - Benefit Obligation and Funded Status (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Pension benefits
Change in benefit obligation
Benefit obligation at beginning of year	$ (3,383.6)	$ (3,056.2)
Service cost	(73)	(67.1)	$ (65)
Interest cost	(119.5)	(124.4)	(134.9)
Actuarial gain (loss)	220.9	(268)
Benefits paid	109.6	109
Plan amendments	6.4	23.1
Benefit obligation at end of year	(3,239.2)	(3,383.6)	(3,056.2)
Change in plan assets
Fair value of plan assets at beginning of year	2,542.2	2,190.8
Actual return on plan assets	(122.2)	368.3
Employer contribution	187.8	92.1
Benefits paid	(109.6)	(109)
Fair value of plan assets at end of year	2,498.2	2,542.2	2,190.8
Amount recognized in statement of financial position
Amount recognized in other liabilities	(741)	(841.4)
Total assets (liabilities) recognized in statement of financial position	(741)	(841.4)
Amount recognized in accumulated other comprehensive (income) loss
Total net actuarial (gain) loss	673.3	682.8
Prior service (benefit) cost	(26.7)	(23.7)
Pre-tax accumulated other comprehensive (income) loss	646.6	659.1
Additional defined benefit plan disclosures
Accumulated benefit obligation	3,029	3,139.3
Market value of assets held in Rabbi trusts for benefit of nonqualified pension plan participants	348.8	352
Other postretirement benefits
Change in benefit obligation
Benefit obligation at beginning of year	(109.1)	(109.8)
Service cost	(0.1)	(0.1)	(2.1)
Interest cost	(3.5)	(3.9)	(6.2)
Actuarial gain (loss)	7.9	(1.7)
Participant contributions	(3.7)	(3.5)
Benefits paid	9.7	9.9
Other	(0.1)
Benefit obligation at end of year	(98.9)	(109.1)	(109.8)
Change in plan assets
Fair value of plan assets at beginning of year	696.8	628.6
Actual return on plan assets	(47.7)	73.9
Employer contribution	0.8	0.7
Participant contributions	3.7	3.5
Benefits paid	(9.7)	(9.9)
Fair value of plan assets at end of year	643.9	696.8	$ 628.6
Amount recognized in statement of financial position
Amount recognized in other assets	546.9	589.5
Amount recognized in other liabilities	(1.9)	(1.8)
Total assets (liabilities) recognized in statement of financial position	545	587.7
Amount recognized in accumulated other comprehensive (income) loss
Total net actuarial (gain) loss	40.2	(34.7)
Prior service (benefit) cost	(10.2)	(24.1)
Pre-tax accumulated other comprehensive (income) loss	$ 30	$ (58.8)

Employee and Agent Benefits -_2

Employee and Agent Benefits - Plan Changes and Gains/Losses, ABO in Excess of Plan Assets (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Pension benefits
Defined Benefit Plan Disclosures
Prior service cost (benefit) related to current year amendments to the qualified plan and agent nonqualified plan	$ (6.4)	$ (23.1)
Information for Defined Benefit Plans With an Accumulated Benefit Obligation in Excess of Plan Assets
Projected benefit obligation for defined benefit plans with an accumulated benefit obligation in excess of plan assets	3,239.2	3,383.6
Accumulated benefit obligation for defined benefit plans with an accumulated benefit obligation in excess of plan assets	3,029	3,139.3
Fair value of plan assets for defined benefit plans with an accumulated benefit obligation in excess of plan assets	2,498.2	2,542.2
Other postretirement benefits
Information for Defined Benefit Plans With an Accumulated Benefit Obligation in Excess of Plan Assets
Accumulated benefit obligation for defined benefit plans with an accumulated benefit obligation in excess of plan assets	2.1	2.2
Fair value of plan assets for defined benefit plans with an accumulated benefit obligation in excess of plan assets	$ 0.2	$ 0.4

Employee and Agent Benefits - N

Employee and Agent Benefits - Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Plan actuarial gain and loss amortization disclosures
Allowable corridor not used for amortization of actuarial gains and losses of qualified pension plan (as a percent)	10.00%
Pension benefits
Components of Net Periodic Benefit Cost (Income)
Service cost	$ 73	$ 67.1	$ 65
Interest cost	$ 119.5	$ 124.4	$ 134.9
Interest cost, location on consolidated statements of operations	pfg:OperatingExpensesIncludingDeferredAcquisitionCostsCapitalizationAndAmortization	pfg:OperatingExpensesIncludingDeferredAcquisitionCostsCapitalizationAndAmortization	pfg:OperatingExpensesIncludingDeferredAcquisitionCostsCapitalizationAndAmortization
Expected return on plan assets	$ (157)	$ (144.2)	$ (155)
Expected return on plan assets, location on consolidated statements of operations	pfg:OperatingExpensesIncludingDeferredAcquisitionCostsCapitalizationAndAmortization	pfg:OperatingExpensesIncludingDeferredAcquisitionCostsCapitalizationAndAmortization	pfg:OperatingExpensesIncludingDeferredAcquisitionCostsCapitalizationAndAmortization
Amortization of prior service (benefit) cost	$ (3.4)	$ (2.3)	$ (2.2)
Amortization of prior service (benefit) cost, location on consolidated statements of operations	pfg:OperatingExpensesIncludingDeferredAcquisitionCostsCapitalizationAndAmortization	pfg:OperatingExpensesIncludingDeferredAcquisitionCostsCapitalizationAndAmortization	pfg:OperatingExpensesIncludingDeferredAcquisitionCostsCapitalizationAndAmortization
Recognized net actuarial (gain) loss	$ 67.8	$ 68	$ 77
Recognized net actuarial (gain) loss, location on consolidated statements of operations	pfg:OperatingExpensesIncludingDeferredAcquisitionCostsCapitalizationAndAmortization	pfg:OperatingExpensesIncludingDeferredAcquisitionCostsCapitalizationAndAmortization	pfg:OperatingExpensesIncludingDeferredAcquisitionCostsCapitalizationAndAmortization
Net periodic benefit cost (income)	$ 99.9	$ 113	$ 119.7
Other changes recognized in accumulated other comprehensive (income) loss
Net actuarial (gain) loss	58.3	43.9
Prior service (benefit) cost	(6.4)	(23.1)
Amortization of net gain (loss)	(67.8)	(68)
Amortization of prior service benefit (cost)	3.4	2.3
Total recognized in pre-tax accumulated other comprehensive (income) loss	(12.5)	(44.9)
Total recognized in net periodic benefit cost and pre-tax accumulated other comprehensive (income) loss	87.4	68.1
Estimated amounts that will be amortized from accumulated other comprehensive income into net periodic benefit cost during the next fiscal year
Estimated net actuarial (gain) loss that will be amortized from accumulated other comprehensive income into net periodic benefit cost during the next fiscal year	67.3
Estimated prior service cost (benefit) that will be amortized from accumulated other comprehensive income into net periodic benefit cost during the next fiscal year	(3.7)
Other postretirement benefits
Components of Net Periodic Benefit Cost (Income)
Service cost	0.1	0.1	2.1
Interest cost	$ 3.5	$ 3.9	$ 6.2
Interest cost, location on consolidated statements of operations	pfg:OperatingExpensesIncludingDeferredAcquisitionCostsCapitalizationAndAmortization	pfg:OperatingExpensesIncludingDeferredAcquisitionCostsCapitalizationAndAmortization	pfg:OperatingExpensesIncludingDeferredAcquisitionCostsCapitalizationAndAmortization
Expected return on plan assets	$ (33.6)	$ (27.5)	$ (32.6)
Expected return on plan assets, location on consolidated statements of operations	pfg:OperatingExpensesIncludingDeferredAcquisitionCostsCapitalizationAndAmortization	pfg:OperatingExpensesIncludingDeferredAcquisitionCostsCapitalizationAndAmortization	pfg:OperatingExpensesIncludingDeferredAcquisitionCostsCapitalizationAndAmortization
Amortization of prior service (benefit) cost	$ (13.9)	$ (34.6)	$ (25.9)
Amortization of prior service (benefit) cost, location on consolidated statements of operations	pfg:OperatingExpensesIncludingDeferredAcquisitionCostsCapitalizationAndAmortization	pfg:OperatingExpensesIncludingDeferredAcquisitionCostsCapitalizationAndAmortization	pfg:OperatingExpensesIncludingDeferredAcquisitionCostsCapitalizationAndAmortization
Recognized net actuarial (gain) loss	$ (1.5)		$ 0.2
Recognized net actuarial (gain) loss, location on consolidated statements of operations	pfg:OperatingExpensesIncludingDeferredAcquisitionCostsCapitalizationAndAmortization	pfg:OperatingExpensesIncludingDeferredAcquisitionCostsCapitalizationAndAmortization	pfg:OperatingExpensesIncludingDeferredAcquisitionCostsCapitalizationAndAmortization
Net periodic benefit cost (income)	$ (45.4)	$ (58.1)	$ (50)
Other changes recognized in accumulated other comprehensive (income) loss
Net actuarial (gain) loss	73.4	(44.7)
Amortization of net gain (loss)	1.5
Amortization of prior service benefit (cost)	13.9	34.6
Total recognized in pre-tax accumulated other comprehensive (income) loss	88.8	(10.1)
Total recognized in net periodic benefit cost and pre-tax accumulated other comprehensive (income) loss	43.4	$ (68.2)
Estimated amounts that will be amortized from accumulated other comprehensive income into net periodic benefit cost during the next fiscal year
Estimated net actuarial (gain) loss that will be amortized from accumulated other comprehensive income into net periodic benefit cost during the next fiscal year	0.1
Estimated prior service cost (benefit) that will be amortized from accumulated other comprehensive income into net periodic benefit cost during the next fiscal year	$ (1.2)

Employee and Agent Benefits - W

Employee and Agent Benefits - Weighted Average Assumptions (Details) - USD ($) $ in Millions	2 Months Ended	10 Months Ended	12 Months Ended
	Dec. 31, 2016	Oct. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Pension benefits
Weighted-average assumptions used to determine benefit obligations as disclosed under the Obligations and Funded Status section
Discount rate: Benefit obligation (as a percent)			4.15%	3.60%
Weighted-average assumptions used to determine net periodic benefit cost
Discount rate: Net periodic benefit cost (as a percent)			3.60%	4.15%	4.50%
Expected long-term return on plan assets: Net periodic benefit cost (as a percent)			6.30%	6.70%	7.20%
Pension benefits, Cash balance benefit
Weighted-average assumptions used to determine benefit obligations as disclosed under the Obligations and Funded Status section
Rate of compensation increase: Benefit obligation (as a percent)			4.94%	4.96%
Weighted-average assumptions used to determine net periodic benefit cost
Rate of compensation increase: Net periodic benefit cost (as a percent)			4.96%	5.02%	5.24%
Pension benefits, Traditional benefit
Weighted-average assumptions used to determine benefit obligations as disclosed under the Obligations and Funded Status section
Rate of compensation increase: Benefit obligation (as a percent)			2.73%	2.77%
Weighted-average assumptions used to determine net periodic benefit cost
Rate of compensation increase: Net periodic benefit cost (as a percent)			2.77%	2.82%	3.11%
Other postretirement benefits
Weighted-average assumptions used to determine benefit obligations as disclosed under the Obligations and Funded Status section
Discount rate: Benefit obligation (as a percent)			3.95%	3.35%
Rate of compensation increase: Benefit obligation (as a percent)				2.39%
Weighted-average assumptions used to determine net periodic benefit cost
Discount rate: Net periodic benefit cost (as a percent)	3.75%	4.15%	3.35%		3.35%
Expected long-term return on plan assets: Net periodic benefit cost (as a percent)			4.85%	4.40%	5.24%
Rate of compensation increase: Net periodic benefit cost (as a percent)			2.39%	2.44%	4.82%
Assumed Health Care Cost Trend Rates
Health care cost trend rate assumed for next year under age 65 (as a percent)			7.00%	7.00%
Health care cost trend rate assumed for next year age 65 and over (as a percent)			6.00%	7.00%
Rate to which the health care cost trend rate is assumed to decline (the ultimate trend rate) (as a percent)			4.50%	4.50%
Year that the health care cost trend rate reaches the ultimate trend rate under age 65 (calendar year)			2,026	2,024
Year that the health care cost trend rate reaches the ultimate trend rate age 65 and over (calendar year)			2,025	2,024
Effect of one-percentage-point change in assumed health care cost trend rates
Effect on total of service cost and interest cost components of a one-percentage-point increase in assumed health care cost trend rates			$ 0.1
Effect on total of service cost and interest cost components of a one-percentage-point decrease in assumed health care cost trend rates			(0.1)
Effect on accumulated postretirement benefit obligation of a one-percentage-point increase in assumed health care cost trend rates			(1.2)
Effect on accumulated postretirement benefit obligation of a one-percentage-point decrease in assumed health care cost trend rates			$ 1.2
Home office medical and life plans
Weighted-average assumptions used to determine net periodic benefit cost
Expected long-term return on plan assets: Net periodic benefit cost (as a percent)			4.90%
Agent medical and life plans
Weighted-average assumptions used to determine net periodic benefit cost
Expected long-term return on plan assets: Net periodic benefit cost (as a percent)			4.60%
Long-term care plans
Weighted-average assumptions used to determine net periodic benefit cost
Expected long-term return on plan assets: Net periodic benefit cost (as a percent)			3.75%
Post-65 medical plans
Weighted-average assumptions used to determine net periodic benefit cost
Expected long-term return on plan assets: Net periodic benefit cost (as a percent)			4.80%

Employee and Agent Benefits - F

Employee and Agent Benefits - Fair Value of Plan Assets (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Pension benefits
Defined benefit plan, fair value of plan assets
Fair value of plan assets	$ 2,498.2	$ 2,542.2	$ 2,190.8
Pension benefits | Qualified benefit plans
Defined benefit plan, fair value of plan assets
Fair value of plan assets	2,498.2	2,542.2
Pension benefits | Qualified benefit plans | Pooled separate account investments | U.S. large cap equity portfolios
Defined benefit plan, fair value of plan assets
Fair value of plan assets	387.7	651.2
Pension benefits | Qualified benefit plans | Pooled separate account investments | U.S. small/mid cap equity portfolios
Defined benefit plan, fair value of plan assets
Fair value of plan assets	64.4	112.2
Pension benefits | Qualified benefit plans | Pooled separate account investments | Balanced asset allocation portfolios
Defined benefit plan, fair value of plan assets
Fair value of plan assets	116.3	128.4
Pension benefits | Qualified benefit plans | Pooled separate account investments | International equity portfolios
Defined benefit plan, fair value of plan assets
Fair value of plan assets	220.9	325.8
Pension benefits | Qualified benefit plans | Pooled separate account investments | Real estate investment portfolios
Defined benefit plan, fair value of plan assets
Fair value of plan assets	133.6	126.2
Pension benefits | Qualified benefit plans | Single client separate account investments | U.S. government and agencies
Defined benefit plan, fair value of plan assets
Fair value of plan assets	418.8	292.7
Pension benefits | Qualified benefit plans | Single client separate account investments | States and political subdivisions
Defined benefit plan, fair value of plan assets
Fair value of plan assets	24	16.9
Pension benefits | Qualified benefit plans | Single client separate account investments | Corporate debt securities
Defined benefit plan, fair value of plan assets
Fair value of plan assets	934.5	745.2
Pension benefits | Qualified benefit plans | Single client separate account investments | Commercial mortgage-backed securities
Defined benefit plan, fair value of plan assets
Fair value of plan assets	30.7	21.3
Pension benefits | Qualified benefit plans | Single client separate account investments | Other debt obligations
Defined benefit plan, fair value of plan assets
Fair value of plan assets	8	3.4
Pension benefits | Qualified benefit plans | Single client separate account investments | Hedge funds
Defined benefit plan, fair value of plan assets
Fair value of plan assets	124.7	120.4
Pension benefits | Qualified benefit plans | Single client separate account investments | Pooled separate account investment
Defined benefit plan, fair value of plan assets
Fair value of plan assets	23.9	4.6
Pension benefits | Qualified benefit plans | Single client separate account investments | Other
Defined benefit plan, fair value of plan assets
Fair value of plan assets	10.7	(6.1)
Pension benefits | Qualified benefit plans | Amount measured at net asset value
Defined benefit plan, fair value of plan assets
Fair value of plan assets	124.7	120.4
Pension benefits | Qualified benefit plans | Amount measured at net asset value | Single client separate account investments | Hedge funds
Defined benefit plan, fair value of plan assets
Fair value of plan assets	124.7	120.4
Pension benefits | Qualified benefit plans | Fair value hierarchy Level 1
Defined benefit plan, fair value of plan assets
Fair value of plan assets	419.1	293.5
Pension benefits | Qualified benefit plans | Fair value hierarchy Level 1 | Single client separate account investments | U.S. government and agencies
Defined benefit plan, fair value of plan assets
Fair value of plan assets	418.8	292.7
Pension benefits | Qualified benefit plans | Fair value hierarchy Level 1 | Single client separate account investments | Other
Defined benefit plan, fair value of plan assets
Fair value of plan assets	0.3	0.8
Pension benefits | Qualified benefit plans | Fair value hierarchy Level 2
Defined benefit plan, fair value of plan assets
Fair value of plan assets	1,954.4	2,128.3
Pension benefits | Qualified benefit plans | Fair value hierarchy Level 2 | Pooled separate account investments | U.S. large cap equity portfolios
Defined benefit plan, fair value of plan assets
Fair value of plan assets	387.7	651.2
Pension benefits | Qualified benefit plans | Fair value hierarchy Level 2 | Pooled separate account investments | U.S. small/mid cap equity portfolios
Defined benefit plan, fair value of plan assets
Fair value of plan assets	64.4	112.2
Pension benefits | Qualified benefit plans | Fair value hierarchy Level 2 | Pooled separate account investments | Balanced asset allocation portfolios
Defined benefit plan, fair value of plan assets
Fair value of plan assets	116.3	128.4
Pension benefits | Qualified benefit plans | Fair value hierarchy Level 2 | Pooled separate account investments | International equity portfolios
Defined benefit plan, fair value of plan assets
Fair value of plan assets	220.9	325.8
Pension benefits | Qualified benefit plans | Fair value hierarchy Level 2 | Pooled separate account investments | Real estate investment portfolios
Defined benefit plan, fair value of plan assets
Fair value of plan assets	133.6	126.2
Pension benefits | Qualified benefit plans | Fair value hierarchy Level 2 | Single client separate account investments | States and political subdivisions
Defined benefit plan, fair value of plan assets
Fair value of plan assets	24	16.9
Pension benefits | Qualified benefit plans | Fair value hierarchy Level 2 | Single client separate account investments | Corporate debt securities
Defined benefit plan, fair value of plan assets
Fair value of plan assets	934.5	745.2
Pension benefits | Qualified benefit plans | Fair value hierarchy Level 2 | Single client separate account investments | Commercial mortgage-backed securities
Defined benefit plan, fair value of plan assets
Fair value of plan assets	30.7	21.3
Pension benefits | Qualified benefit plans | Fair value hierarchy Level 2 | Single client separate account investments | Other debt obligations
Defined benefit plan, fair value of plan assets
Fair value of plan assets	8	3.4
Pension benefits | Qualified benefit plans | Fair value hierarchy Level 2 | Single client separate account investments | Pooled separate account investment
Defined benefit plan, fair value of plan assets
Fair value of plan assets	23.9	4.6
Pension benefits | Qualified benefit plans | Fair value hierarchy Level 2 | Single client separate account investments | Other
Defined benefit plan, fair value of plan assets
Fair value of plan assets	10.4	(6.9)
Other postretirement benefits
Defined benefit plan, fair value of plan assets
Fair value of plan assets	643.9	696.8	$ 628.6
Fair value of plan assets included in trust owned life insurance contract	86.1	93.2
Other postretirement benefits | Cash and cash equivalents
Defined benefit plan, fair value of plan assets
Fair value of plan assets	0.3	0.3
Other postretirement benefits | Fixed income investment funds
Defined benefit plan, fair value of plan assets
Fair value of plan assets	203.7	209.8
Other postretirement benefits | U.S. equity portfolios
Defined benefit plan, fair value of plan assets
Fair value of plan assets	135.8	159.4
Other postretirement benefits | International equity portfolios
Defined benefit plan, fair value of plan assets
Fair value of plan assets	61.2	67.8
Other postretirement benefits | Alternative mutual fund portfolios
Defined benefit plan, fair value of plan assets
Fair value of plan assets	235.4	251.4
Other postretirement benefits | Real estate mutual fund
Defined benefit plan, fair value of plan assets
Fair value of plan assets	7.5	8.1
Other postretirement benefits | Fair value hierarchy Level 1
Defined benefit plan, fair value of plan assets
Fair value of plan assets	557.8	603.7
Other postretirement benefits | Fair value hierarchy Level 1 | Cash and cash equivalents
Defined benefit plan, fair value of plan assets
Fair value of plan assets	0.3	0.3
Other postretirement benefits | Fair value hierarchy Level 1 | Fixed income investment funds
Defined benefit plan, fair value of plan assets
Fair value of plan assets	166.2	177.7
Other postretirement benefits | Fair value hierarchy Level 1 | U.S. equity portfolios
Defined benefit plan, fair value of plan assets
Fair value of plan assets	101	108.5
Other postretirement benefits | Fair value hierarchy Level 1 | International equity portfolios
Defined benefit plan, fair value of plan assets
Fair value of plan assets	47.4	57.7
Other postretirement benefits | Fair value hierarchy Level 1 | Alternative mutual fund portfolios
Defined benefit plan, fair value of plan assets
Fair value of plan assets	235.4	251.4
Other postretirement benefits | Fair value hierarchy Level 1 | Real estate mutual fund
Defined benefit plan, fair value of plan assets
Fair value of plan assets	7.5	8.1
Other postretirement benefits | Fair value hierarchy Level 2
Defined benefit plan, fair value of plan assets
Fair value of plan assets	86.1	93.1
Other postretirement benefits | Fair value hierarchy Level 2 | Fixed income investment funds
Defined benefit plan, fair value of plan assets
Fair value of plan assets	37.5	32.1
Other postretirement benefits | Fair value hierarchy Level 2 | U.S. equity portfolios
Defined benefit plan, fair value of plan assets
Fair value of plan assets	34.8	50.9
Other postretirement benefits | Fair value hierarchy Level 2 | International equity portfolios
Defined benefit plan, fair value of plan assets
Fair value of plan assets	$ 13.8	$ 10.1

Employee and Agent Benefits - R

Employee and Agent Benefits - Reconciliation of Fair Value of Plan Assets using Level 3 Inputs (Details) - Other postretirement benefits $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)
Change in Level 3 fair value measurement rollforward, plan assets
Fair value of plan assets at end of year	$ 628.6
Fair value hierarchy Level 3 | Principal Life general account investment
Change in Level 3 fair value measurement rollforward, plan assets
Fair value of plan assets at beginning of year	33.5
Actual return gains (losses) on plan assets relating to assets still held at the reporting date	(1.7)
Actual return gains (losses) on plan assets relating to assets sold during the period	(33.6)
Net purchases, sales and settlements	$ 1.8

Employee and Agent Benefits - T

Employee and Agent Benefits - Target Plan Asset Allocation (Details)	Dec. 31, 2018
Pension benefits | Qualified benefit plans | Fixed income security portfolios | Minimum
Asset category target allocation
Asset category target allocation	25.00%
Pension benefits | Qualified benefit plans | Fixed income security portfolios | Maximum
Asset category target allocation
Asset category target allocation	80.00%
Pension benefits | Qualified benefit plans | Equity portfolios | Minimum
Asset category target allocation
Asset category target allocation	5.00%
Pension benefits | Qualified benefit plans | Equity portfolios | Maximum
Asset category target allocation
Asset category target allocation	60.00%
Pension benefits | Qualified benefit plans | Real estate investment portfolios
Asset category target allocation
Asset category target allocation	10.00%
Pension benefits | Qualified benefit plans | Alternatives
Asset category target allocation
Asset category target allocation	5.00%
Other postretirement benefits | U.S. equity portfolios
Asset category target allocation
Asset category target allocation	24.00%
Other postretirement benefits | International equity portfolios
Asset category target allocation
Asset category target allocation	15.00%
Other postretirement benefits | Fixed income security portfolios
Asset category target allocation
Asset category target allocation	32.00%
Other postretirement benefits | Real estate investment portfolios
Asset category target allocation
Asset category target allocation	5.00%
Other postretirement benefits | Alternative mutual fund portfolios
Asset category target allocation
Asset category target allocation	24.00%

Employee and Agent Benefits - C

Employee and Agent Benefits - Contributions and Estimated Future Benefit Payments (Details) $ in Millions	Dec. 31, 2018USD ($)
Pension benefits
Estimated Future Benefit Payments
Estimated future benefit payments, Year 1	$ 154.4
Estimated future benefit payments, Year 2	143.3
Estimated future benefit payments, Year 3	149.2
Estimated future benefit payments, Year 4	158.6
Estimated future benefit payments, Year 5	168.1
Estimated future benefit payments, Years 6-10	939.2
Pension benefits | Maximum
Defined Benefit Plan Disclosures
Possible contributions to be made during the next fiscal year to the qualified and nonqualified pension plans combined	25
Other postretirement benefits
Estimated Future Benefit Payments
Estimated future benefit payments, Year 1	14.2
Estimated future benefit payments, Year 2	12.8
Estimated future benefit payments, Year 3	11.8
Estimated future benefit payments, Year 4	11.1
Estimated future benefit payments, Year 5	10.2
Estimated future benefit payments, Years 6-10	$ 39.7

Employee and Agent Benefits - S

Employee and Agent Benefits - Supplemental Information, Qualified and Nonqualified Plans (Details) - Pension benefits - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Amount recognized in statement of financial position
Amount recognized in other liabilities	$ (741)	$ (841.4)
Total assets (liabilities) recognized in statement of financial position	(741)	(841.4)
Amount recognized in accumulated other comprehensive (income) loss
Total net actuarial (gain) loss	673.3	682.8
Prior service (benefit) cost	(26.7)	(23.7)
Pre-tax accumulated other comprehensive (income) loss	646.6	659.1
Components of Net Periodic Benefit Cost (Income)
Service cost	73	67.1	$ 65
Interest cost	119.5	124.4	134.9
Expected return on plan assets	(157)	(144.2)	(155)
Amortization of prior service (benefit) cost	(3.4)	(2.3)	(2.2)
Recognized net actuarial (gain) loss	67.8	68	77
Net periodic benefit cost (income)	99.9	113	$ 119.7
Other changes recognized in accumulated other comprehensive (income) loss
Net actuarial (gain) loss	58.3	43.9
Prior service (benefit) cost	(6.4)	(23.1)
Amortization of net gain (loss)	(67.8)	(68)
Amortization of prior service benefit (cost)	3.4	2.3
Total recognized in pre-tax accumulated other comprehensive (income) loss	(12.5)	(44.9)
Total recognized in net periodic benefit cost and pre-tax accumulated other comprehensive (income) loss	87.4	68.1
Qualified benefit plans
Amount recognized in statement of financial position
Amount recognized in other liabilities	(266.3)	(340)
Total assets (liabilities) recognized in statement of financial position	(266.3)	(340)
Amount recognized in accumulated other comprehensive (income) loss
Total net actuarial (gain) loss	544.4	516.4
Prior service (benefit) cost	(11)	(12.5)
Pre-tax accumulated other comprehensive (income) loss	533.4	503.9
Components of Net Periodic Benefit Cost (Income)
Service cost	65.7	60.3
Interest cost	102	106
Expected return on plan assets	(157)	(144.2)
Amortization of prior service (benefit) cost	(1.5)	(1.2)
Recognized net actuarial (gain) loss	53.6	59.2
Net periodic benefit cost (income)	62.8	80.1
Other changes recognized in accumulated other comprehensive (income) loss
Net actuarial (gain) loss	81.7	(11.9)
Prior service (benefit) cost		(12.2)
Amortization of net gain (loss)	(53.6)	(59.2)
Amortization of prior service benefit (cost)	1.5	1.2
Total recognized in pre-tax accumulated other comprehensive (income) loss	29.6	(82.1)
Total recognized in net periodic benefit cost and pre-tax accumulated other comprehensive (income) loss	92.4	(2)
Nonqualified benefit plans
Amount recognized in statement of financial position
Amount recognized in other liabilities	(474.7)	(501.4)
Total assets (liabilities) recognized in statement of financial position	(474.7)	(501.4)
Amount recognized in accumulated other comprehensive (income) loss
Total net actuarial (gain) loss	128.9	166.4
Prior service (benefit) cost	(15.7)	(11.2)
Pre-tax accumulated other comprehensive (income) loss	113.2	155.2
Components of Net Periodic Benefit Cost (Income)
Service cost	7.3	6.8
Interest cost	17.5	18.4
Amortization of prior service (benefit) cost	(1.9)	(1.1)
Recognized net actuarial (gain) loss	14.2	8.8
Net periodic benefit cost (income)	37.1	32.9
Other changes recognized in accumulated other comprehensive (income) loss
Net actuarial (gain) loss	(23.4)	55.8
Prior service (benefit) cost	(6.4)	(10.9)
Amortization of net gain (loss)	(14.2)	(8.8)
Amortization of prior service benefit (cost)	1.9	1.1
Total recognized in pre-tax accumulated other comprehensive (income) loss	(42.1)	37.2
Total recognized in net periodic benefit cost and pre-tax accumulated other comprehensive (income) loss	$ (5)	$ 70.1

Employee and Agent Benefits - D

Employee and Agent Benefits - Defined Contribution and Deferred Compensation Plans (Details) - USD ($) shares in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Contribution Plan Disclosures
Number of common stock shares allocated participants in the employee stock ownership plan	2.4	2.1
Fair value of employee stock ownership plan	$ 105,100,000	$ 149,400,000
Pension benefits | Qualified benefit plans
Defined Contribution Plan Disclosures
Maximum amount of compensation eligible participants could contribute to defined contribution plans	18,500
Amount contributed by the employer to defined contribution plans	53,400,000	48,900,000	$ 46,600,000
Pension benefits | Nonqualified benefit plans
Defined Contribution Plan Disclosures
Amount contributed by the employer to defined contribution plans	$ 3,400,000	$ 3,800,000	$ 3,300,000
Defined contribution pension benefits - Grandfathered Choice Participant | Qualified benefit plans
Defined Contribution Plan Disclosures
Eligibility age to be able to elect to retain benefits in defined contribution plan	47 years
Minimum years of service to be able to elect to retain benefits in defined contribution plan	10 years
Contribution rate of employer to match participant's contributions (as a percent)	50.00%
Maximum percent of participant's compensation matched by employer (as a percent)	3.00%
Defined contribution pension benefits - Grandfathered Choice Participant | Nonqualified benefit plans
Defined Contribution Plan Disclosures
Contribution rate of employer to match participant's contributions (as a percent)	50.00%
Maximum percent of participant's compensation matched by employer (as a percent)	3.00%
Defined contribution pension benefits - All other participants | Qualified benefit plans
Defined Contribution Plan Disclosures
Contribution rate of employer to match participant's contributions (as a percent)	75.00%
Maximum percent of participant's compensation matched by employer (as a percent)	6.00%
Defined contribution pension benefits - All other participants | Nonqualified benefit plans
Defined Contribution Plan Disclosures
Contribution rate of employer to match participant's contributions (as a percent)	75.00%
Maximum percent of participant's compensation matched by employer (as a percent)	6.00%

Contingencies, Guarantees and_3

Contingencies, Guarantees and Indemnifications (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Guaranty Funds
Undiscounted liability balance for guaranty fund assessments	$ 22.2	$ 23.3
Premium tax offsets	10.4	$ 11.3
Guarantees to third parties primarily related to former subsidiaries and joint ventures
Guarantees and Indemnifications
Maximum exposure under guarantees	126
Guarantees related to P-Caps contingent funding agreements
Guarantees and Indemnifications
Maximum exposure under guarantees	$ 750

Contingencies, Guarantees and_4

Contingencies, Guarantees and Indemnifications - Operating and Capital Lease Obligations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating leases
Operating lease rental expense	$ 26.1	$ 44	$ 40.4
Operating lease obligations
Year 1: Operating lease obligations	50.3
Year 2: Operating lease obligations	44.3
Year 3: Operating lease obligations	35.5
Year 4: Operating lease obligations	28.5
Year 5: Operating lease obligations	20.2
Year 6 and thereafter: Operating lease obligations	56.4
Total operating lease obligations	235.2
Less: Future sublease rental income on noncancelable leases	5.7
Total future minimum lease payments	229.5
Capital leases
Capital lease gross asset balance	67.9	60.8
Capital lease accumulated depreciation	35.3	32.8
Capital lease depreciation expense	12.9	$ 13.4	$ 14.8
Capital lease future minimum lease payments
Year 1: Capital lease future minimum lease payments	12.7
Year 2: Capital lease future minimum lease payments	11
Year 3: Capital lease future minimum lease payments	8.2
Year 4: Capital lease future minimum lease payments	1.8
Year 5: Capital lease future minimum lease payments	0.4
Year 6 and thereafter: Capital lease future minimum lease payments	0.2
Total capital lease future minimum lease payments	34.3
Less: Amounts representing interest	1.4
Net present value of minimum lease payments	$ 32.9

Stockholders' Equity - Common S

Stockholders' Equity - Common Stock Dividends and Reconciliation of Outstanding Common Shares (Details) - Common stock - USD ($) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended					12 Months Ended
	Nov. 30, 2018	May 31, 2018	May 31, 2017	Feb. 29, 2016	Oct. 31, 2015	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Common Stock Dividends
Dividends declared per common share (in dollars per share)						$ 2.10	$ 1.87	$ 1.61
Reconciliation of Outstanding Common Shares
Outstanding shares at beginning of period						289	287.7	291.4
Shares issued						2.6	4.9	3
Treasury stock acquired						(12.1)	(3.6)	(6.7)
Outstanding shares at end of period						279.5	289	287.7
Common stock share repurchase disclosures
Share repurchase program, maximum authorized amount (in dollars)	$ 500	$ 300	$ 250	$ 400	$ 150

Stockholders' Equity - Other Co

Stockholders' Equity - Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Other Comprehensive Income (Loss)
Other comprehensive income (loss), pre-tax	$ (2,258.6)	$ 1,141.1	$ 317.6
Other comprehensive income (loss), tax	422.9	(296.8)	(96.6)
Other comprehensive income (loss)	(1,835.7)	844.3	221
Net unrealized gains (losses) on available-for-sale securities including NCI
Other Comprehensive Income (Loss)
Other comprehensive income (loss) before reclassifications, pre-tax	(2,517.5)	1,074.2	254.6
Adjustments for assumed changes in amortization patterns, pre-tax	185.9	(26.2)	5.6
Adjustments for assumed changes in policyholder liabilities, pre-tax	346.9	(184.6)	(177.2)
Other comprehensive income (loss), pre-tax	(1,928.3)	931.2	150.9
Other comprehensive income (loss) before reclassifications, tax	515.4	(341.6)	(78.1)
Reclassification from accumulated other comprehensive income, tax	(5.3)	(23.5)	(23.5)
Adjustments for assumed changes in amortization patterns, tax	(39.1)	9.3	(2)
Adjustments for assumed changes in policyholder liabilities, tax	(72.3)	64.1	51.8
Other comprehensive income (loss), tax	398.7	(291.7)	(51.8)
Other comprehensive income (loss) before reclassifications, after-tax	(2,002.1)	732.6	176.5
Reclassification from accumulated other comprehensive income, after-tax	51.1	44.3	44.4
Adjustments for assumed changes in amortization patterns, after-tax	146.8	(16.9)	3.6
Adjustments for assumed changes in policyholder liabilities, after-tax	274.6	(120.5)	(125.4)
Other comprehensive income (loss)	(1,529.6)	639.5	99.1
Net unrealized gains (losses) on available-for-sale securities including NCI | Net realized capital gains (losses)
Other Comprehensive Income (Loss)
Reclassification from accumulated other comprehensive income, pre-tax	56.4	67.8	67.9
Noncredit component of impairment losses on fixed maturities available-for-sale including NCI
Other Comprehensive Income (Loss)
Other comprehensive income (loss) before reclassifications, pre-tax	39.7	53.1	(0.3)
Adjustments for assumed changes in amortization patterns, pre-tax	(5.3)	(6.4)	(3.4)
Adjustments for assumed changes in policyholder liabilities, pre-tax	(0.8)	(1.3)	0.8
Other comprehensive income (loss), pre-tax	33.6	45.4	(2.9)
Other comprehensive income (loss) before reclassifications, tax	(8.4)	(17)	(1.5)
Adjustments for assumed changes in amortization patterns, tax	1.1	2.3	1.2
Adjustments for assumed changes in policyholder liabilities, tax	0.1	0.5	(0.3)
Other comprehensive income (loss), tax	(7.2)	(14.2)	(0.6)
Other comprehensive income (loss) before reclassifications, after-tax	31.3	36.1	(1.8)
Adjustments for assumed changes in amortization patterns, after-tax	(4.2)	(4.1)	(2.2)
Adjustments for assumed changes in policyholder liabilities, after-tax	(0.7)	(0.8)	0.5
Other comprehensive income (loss)	26.4	31.2	(3.5)
Net unrealized gains (losses) on derivative instruments including NCI
Other Comprehensive Income (Loss)
Other comprehensive income (loss) before reclassifications, pre-tax	50.4	(46.7)	32.6
Reclassification from accumulated other comprehensive income, pre-tax	(40.1)	(31.6)	(27.7)
Adjustments for assumed changes in amortization patterns, pre-tax	0.3	3.9	2.9
Adjustments for assumed changes in policyholder liabilities, pre-tax	5.7	9.6	16.9
Other comprehensive income (loss), pre-tax	16.3	(64.8)	24.7
Other comprehensive income (loss) before reclassifications, tax	(3.4)	16	(7.6)
Reclassification from accumulated other comprehensive income, tax	4.2	10.8	5.4
Adjustments for assumed changes in amortization patterns, tax	(0.1)	(1.3)	(1)
Adjustments for assumed changes in policyholder liabilities, tax	(1)	(3.3)	(6)
Other comprehensive income (loss), tax	(0.3)	22.2	(9.2)
Other comprehensive income (loss) before reclassifications, after-tax	47	(30.7)	25
Reclassification from accumulated other comprehensive income, after-tax	(35.9)	(20.8)	(22.3)
Adjustments for assumed changes in amortization patterns, after-tax	0.2	2.6	1.9
Adjustments for assumed changes in policyholder liabilities, after-tax	4.7	6.3	10.9
Other comprehensive income (loss)	16	(42.6)	15.5
Foreign currency translation adjustment including NCI
Other Comprehensive Income (Loss)
Other comprehensive income (loss) before reclassifications, pre-tax		171.6
Other comprehensive income (loss), pre-tax	(303.9)	174.2	75.6
Other comprehensive income (loss) before reclassifications, tax		4.7
Other comprehensive income (loss), tax	16.3	4.7	(7.5)
Other comprehensive income (loss) before reclassifications, after-tax		176.3
Reclassification from accumulated other comprehensive income, after-tax		2.6
Other comprehensive income (loss)	(287.6)	178.9	68.1
Foreign currency translation adjustment including NCI | Net realized capital gains (losses)
Other Comprehensive Income (Loss)
Reclassification from accumulated other comprehensive income, pre-tax		2.6
Foreign currency translation adjustment relating to noncontrolling interest | Net realized capital gains (losses)
Other Comprehensive Income (Loss)
Reclassification from accumulated other comprehensive income, pre-tax		2
Unrecognized postretirement benefit obligation including NCI
Other Comprehensive Income (Loss)
Other comprehensive income (loss) before reclassifications, pre-tax	(125.3)	24	20.2
Other comprehensive income (loss), pre-tax	(76.3)	55.1	69.3
Other comprehensive income (loss) before reclassifications, tax	29.4	(3.8)	(6.8)
Reclassification from accumulated other comprehensive income, tax	(14)	(14)	(20.7)
Other comprehensive income (loss), tax	15.4	(17.8)	(27.5)
Other comprehensive income (loss) before reclassifications, after-tax	(95.9)	20.2	13.4
Reclassification from accumulated other comprehensive income, after-tax	35	17.1	28.4
Other comprehensive income (loss)	(60.9)	37.3	41.8
Unrecognized postretirement benefit obligation including NCI | Operating expense
Other Comprehensive Income (Loss)
Reclassification from accumulated other comprehensive income, pre-tax	$ 49	$ 31.1	$ 49.1

Stockholders' Equity - AOCI and

Stockholders' Equity - AOCI and Noncontrolling Interest (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Change in accumulated other comprehensive income (loss) rollforward
Balances		$ 12,849.3
Purchase of subsidiary shares from noncontrolling interest	[1]	(24)	$ (8.9)	$ 5.8
Balances		11,390	12,849.3
Change in redeemable noncontrolling interest rollforward
Redeemable noncontrolling interest, balance at beginning of period		101.3	97.5	85.7
Net income (loss) attributable to redeemable noncontrolling interest		(2.1)	7	16.8
Redeemable noncontrolling interest of newly consolidated entities				179.5
Redeemable noncontrolling interest of deconsolidated entities		(10.6)	(61.1)	(261.5)
Contributions from redeemable noncontrolling interest		355	94.1	135.1
Distributions to redeemable noncontrolling interest		(36.8)	(39)	(57.4)
Purchase of subsidiary shares from redeemable noncontrolling interest		(7.1)	(4.4)	(8.2)
Change in redemption value of redeemable noncontrolling interest		(7)	5.9	4.2
Stock-based compensation attributable to redeemable noncontrolling interest		0.1
Other comprehensive income (loss) attributable to redeemable noncontrolling interest		(1.6)	1.3	3.3
Redeemable noncontrolling interest, balance at end of period		391.2	101.3	97.5
ASU 2014-09 - Revenue recognition
Change in accumulated other comprehensive income (loss) rollforward
Effects of implementation of accounting change		(39.7)
Accumulated other comprehensive income (loss)
Change in accumulated other comprehensive income (loss) rollforward
Balances		165.5	(675.2)	(882.5)
Other comprehensive income (loss) during the period, net of adjustments		(1,907.8)	768.3	166.1
Amounts reclassified from accumulated other comprehensive income (loss)		76.6	72.4	50.5
Other comprehensive income (loss) attributable to Principal Financial Group, Inc.		(1,831.2)	840.7	216.6
Purchase of subsidiary shares from noncontrolling interest	[1]	(1.6)		(9.3)
Balances		(1,565.1)	165.5	(675.2)
Accumulated other comprehensive income (loss) | ASU 2016-01 - Equity investments
Change in accumulated other comprehensive income (loss) rollforward
Effects of implementation of accounting change		(1)
Accumulated other comprehensive income (loss) | ASU 2014-09 - Revenue recognition
Change in accumulated other comprehensive income (loss) rollforward
Effects of implementation of accounting change		25.6
Accumulated other comprehensive income (loss) | ASU 2018-02 - Reclassification of certain tax effects
Change in accumulated other comprehensive income (loss) rollforward
Effects of implementation of accounting change		77.6
Net unrealized gains (losses) on available-for-sale securities
Change in accumulated other comprehensive income (loss) rollforward
Balances		1,470.7	831.2	732.1
Other comprehensive income (loss) during the period, net of adjustments		(1,580.6)	595.2	54.7
Amounts reclassified from accumulated other comprehensive income (loss)		51.1	44.3	44.4
Other comprehensive income (loss) attributable to Principal Financial Group, Inc.		(1,529.5)	639.5	99.1
Balances		190	1,470.7	831.2
Net unrealized gains (losses) on available-for-sale securities | ASU 2016-01 - Equity investments
Change in accumulated other comprehensive income (loss) rollforward
Effects of implementation of accounting change		(1)
Net unrealized gains (losses) on available-for-sale securities | ASU 2018-02 - Reclassification of certain tax effects
Change in accumulated other comprehensive income (loss) rollforward
Effects of implementation of accounting change		249.8
Noncredit component of impairment losses on fixed maturities available-for-sale
Change in accumulated other comprehensive income (loss) rollforward
Balances		(58.3)	(89.5)	(86)
Other comprehensive income (loss) during the period, net of adjustments				(3.5)
Amounts reclassified from accumulated other comprehensive income (loss)		26.4	31.2
Other comprehensive income (loss) attributable to Principal Financial Group, Inc.		26.4	31.2	(3.5)
Balances		(47.1)	(58.3)	(89.5)
Noncredit component of impairment losses on fixed maturities available-for-sale | ASU 2018-02 - Reclassification of certain tax effects
Change in accumulated other comprehensive income (loss) rollforward
Effects of implementation of accounting change		(15.2)
Net unrealized gains (losses) on derivative instruments
Change in accumulated other comprehensive income (loss) rollforward
Balances		42.7	85.3	69.8
Other comprehensive income (loss) during the period, net of adjustments		51.9	(21.8)	37.8
Amounts reclassified from accumulated other comprehensive income (loss)		(35.9)	(20.8)	(22.3)
Other comprehensive income (loss) attributable to Principal Financial Group, Inc.		16	(42.6)	15.5
Balances		64.4	42.7	85.3
Net unrealized gains (losses) on derivative instruments | ASU 2018-02 - Reclassification of certain tax effects
Change in accumulated other comprehensive income (loss) rollforward
Effects of implementation of accounting change		5.7
Foreign currency translation adjustment
Change in accumulated other comprehensive income (loss) rollforward
Balances		(918.5)	(1,093.8)	(1,148.2)
Other comprehensive income (loss) during the period, net of adjustments		(283.2)	174.7	63.7
Amounts reclassified from accumulated other comprehensive income (loss)			0.6
Other comprehensive income (loss) attributable to Principal Financial Group, Inc.		(283.2)	175.3	63.7
Purchase of subsidiary shares from noncontrolling interest		(1.6)		(9.3)
Balances		(1,259.5)	(918.5)	(1,093.8)
Foreign currency translation adjustment | ASU 2014-09 - Revenue recognition
Change in accumulated other comprehensive income (loss) rollforward
Effects of implementation of accounting change		25.6
Foreign currency translation adjustment | ASU 2018-02 - Reclassification of certain tax effects
Change in accumulated other comprehensive income (loss) rollforward
Effects of implementation of accounting change		(81.8)
Unrecognized postretirement benefit obligation
Change in accumulated other comprehensive income (loss) rollforward
Balances		(371.1)	(408.4)	(450.2)
Other comprehensive income (loss) during the period, net of adjustments		(95.9)	20.2	13.4
Amounts reclassified from accumulated other comprehensive income (loss)		35	17.1	28.4
Other comprehensive income (loss) attributable to Principal Financial Group, Inc.		(60.9)	37.3	41.8
Balances		(512.9)	$ (371.1)	$ (408.4)
Unrecognized postretirement benefit obligation | ASU 2018-02 - Reclassification of certain tax effects
Change in accumulated other comprehensive income (loss) rollforward
Effects of implementation of accounting change		$ (80.9)
[1]	Excludes amounts attributable to redeemable noncontrolling interest. See Note 13, Stockholders’ Equity, for further details.

Stockholders' Equity - Dividend

Stockholders' Equity - Dividend Limitations (Details) - Principal Life Insurance Company Only - USD ($) $ in Millions	May 01, 2017	Dec. 31, 2018
Dividend Limitations
Dividend limitation as percentage of statutory policyholder surplus (as a percent)		10.00%
Dividends that can be paid in upcoming calendar year without exceeding statutory limitation		$ 1,085.7
Extraordinary dividend to parent	$ 1,068.4

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	$ 60,108.5	$ 59,388.4
Fixed maturities, trading	636.1	566
Equity securities	1,843.7	1,866.6
Equity securities, available-for-sale		96
Equity securities, trading		1,770.6
Derivative instruments, assets	194	304
Separate account assets	144,987.9	159,272.7
Investment contracts	(45.2)	(160.3)
Unfunded commitments of investments measured using NAV	$ 32	46.1
Fixed maturities valued using internal pricing models
Fixed maturities classified as Level 3 assets, percent valued using internal pricing models (as a percent)	1.00%
U.S. government and agencies
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	$ 1,441	1,351.7
Non-U.S. governments
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	890.5	901.5
States and political subdivisions
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	6,225.7	6,801.6
Corporate debt securities
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	35,539.3	37,033.1
Residential mortgage-backed pass-through securities
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	2,460.6	2,523.3
Commercial mortgage-backed securities
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	3,945.6	3,708.3
Collateralized debt obligations
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	2,420.8	1,359.3
Other debt obligations
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	7,185	5,709.6
Recurring Fair Value Measurements
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	60,108.5	59,388.4
Fixed maturities, trading	636.1	566
Equity securities	1,843.7
Equity securities, available-for-sale		96
Equity securities, trading		1,770.6
Derivative instruments, assets	194	304
Other investments	828.6	498
Cash equivalents	1,775.9	1,793.3
Sub-total excluding separate account assets	65,386.8	64,416.3
Separate account assets	144,987.9	159,272.7
Total assets	210,374.7	223,689
Investment contracts	(45.2)	(160.3)
Derivative liabilities	(157.1)	(274.7)
Other liabilities	(91.5)	(253.4)
Total liabilities	(293.8)	(688.4)
Net assets (liabilities)	210,080.9	223,000.6
Recurring Fair Value Measurements | Amount measured at net asset value
Assets (liabilities) measured at fair value on a recurring basis
Other investments	75.4	85.8
Sub-total excluding separate account assets	75.4	85.8
Separate account assets	124.6	120.4
Total assets	200	206.2
Net assets (liabilities)	200	206.2
Recurring Fair Value Measurements | Fair value hierarchy Level 1
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	1,049.7	920.4
Equity securities	661.2
Equity securities, available-for-sale		47.4
Equity securities, trading		544
Other investments	125.9	176
Cash equivalents	46.3	46.8
Sub-total excluding separate account assets	1,883.1	1,734.6
Separate account assets	79,572	90,090.6
Total assets	81,455.1	91,825.2
Net assets (liabilities)	81,455.1	91,825.2
Recurring Fair Value Measurements | Fair value hierarchy Level 2
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	58,920	58,194.7
Fixed maturities, trading	636.1	566
Equity securities	1,182.5
Equity securities, available-for-sale		45.9
Equity securities, trading		1,226.6
Derivative instruments, assets	175.4	279.8
Other investments	610.1	229.7
Cash equivalents	1,729.6	1,746.5
Sub-total excluding separate account assets	63,253.7	62,289.2
Separate account assets	56,675.8	61,410.3
Total assets	119,929.5	123,699.5
Derivative liabilities	(141.6)	(268.6)
Other liabilities	(91.5)	(253.4)
Total liabilities	(233.1)	(522)
Net assets (liabilities)	119,696.4	123,177.5
Recurring Fair Value Measurements | Fair value hierarchy Level 3
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	138.8	273.3
Equity securities, available-for-sale		2.7
Derivative instruments, assets	18.6	24.2
Other investments	17.2	6.5
Sub-total excluding separate account assets	174.6	306.7
Separate account assets	8,615.5	7,651.4
Total assets	8,790.1	7,958.1
Investment contracts	(45.2)	(160.3)
Derivative liabilities	(15.5)	(6.1)
Total liabilities	(60.7)	(166.4)
Net assets (liabilities)	8,729.4	7,791.7
Recurring Fair Value Measurements | U.S. government and agencies
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	1,441	1,351.7
Recurring Fair Value Measurements | U.S. government and agencies | Fair value hierarchy Level 1
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	1,027.8	896.8
Recurring Fair Value Measurements | U.S. government and agencies | Fair value hierarchy Level 2
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	413.2	454.9
Recurring Fair Value Measurements | Non-U.S. governments
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	890.5	901.5
Recurring Fair Value Measurements | Non-U.S. governments | Fair value hierarchy Level 1
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	2.7	2.9
Recurring Fair Value Measurements | Non-U.S. governments | Fair value hierarchy Level 2
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	883.2	891.2
Recurring Fair Value Measurements | Non-U.S. governments | Fair value hierarchy Level 3
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	4.6	7.4
Recurring Fair Value Measurements | States and political subdivisions
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	6,225.7	6,801.6
Recurring Fair Value Measurements | States and political subdivisions | Fair value hierarchy Level 2
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	6,225.7	6,801.6
Recurring Fair Value Measurements | Corporate debt securities
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	35,539.3	37,033.1
Recurring Fair Value Measurements | Corporate debt securities | Fair value hierarchy Level 1
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	19.2	20.7
Recurring Fair Value Measurements | Corporate debt securities | Fair value hierarchy Level 2
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	35,462.2	36,884.4
Recurring Fair Value Measurements | Corporate debt securities | Fair value hierarchy Level 3
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	57.9	128
Recurring Fair Value Measurements | Residential mortgage-backed pass-through securities
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	2,460.6	2,523.3
Recurring Fair Value Measurements | Residential mortgage-backed pass-through securities | Fair value hierarchy Level 2
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	2,460.6	2,523.3
Recurring Fair Value Measurements | Commercial mortgage-backed securities
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	3,945.6	3,708.3
Recurring Fair Value Measurements | Commercial mortgage-backed securities | Fair value hierarchy Level 2
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	3,936.1	3,697.7
Recurring Fair Value Measurements | Commercial mortgage-backed securities | Fair value hierarchy Level 3
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	9.5	10.6
Recurring Fair Value Measurements | Collateralized debt obligations
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	2,420.8	1,359.3
Recurring Fair Value Measurements | Collateralized debt obligations | Fair value hierarchy Level 2
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	2,412.5	1,234.3
Recurring Fair Value Measurements | Collateralized debt obligations | Fair value hierarchy Level 3
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	8.3	125
Recurring Fair Value Measurements | Other debt obligations
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	7,185	5,709.6
Recurring Fair Value Measurements | Other debt obligations | Fair value hierarchy Level 2
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	7,126.5	5,707.3
Recurring Fair Value Measurements | Other debt obligations | Fair value hierarchy Level 3
Assets (liabilities) measured at fair value on a recurring basis
Fixed maturities, available-for-sale	$ 58.5	$ 2.3

Fair Value Measurements - Chang

Fair Value Measurements - Changes in Level 3 Fair Value Measurements (Details) - Recurring Fair Value Measurements - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Changes in Level 3 fair value measurements rollforward, assets and liabilities
Beginning balance, net derivative assets	$ 18.1	$ 11.3	$ (3.3)
Total realized/unrealized gains (losses) included in net income, net derivative assets	(20.2)	3.1	11.3
Total realized/unrealized gains (losses) included in other comprehensive income, net derivative assets			0.5
Net purchases, sales, issuances and settlements, net derivative assets	5.2	3.7	2.8
Ending balance, net derivative assets	3.1	18.1	11.3
Changes in unrealized gains (losses) included in net income relating to positions still held, net derivative assets	(18.4)	4.9	10.4
Gross purchases, sales, issuances and settlements
Purchases, net derivative assets (liabilities)	(1.8)	1.5	0.5
Sales, net derivative assets (liabilities)	3.4	2.2	2.3
Net purchases, sales, issuances and settlements, net derivative assets (liabilities)	5.2	3.7	2.8
Investment contracts
Changes in Level 3 fair value measurements rollforward, assets and liabilities
Beginning balance, liabilities	(160.3)	(176.5)	(177.4)
Total realized/unrealized gains (losses) included in net income, liabilities	107.5	8.4	(5.9)
Total realized/unrealized gains (losses) included in other comprehensive income, liabilities	0.1	0.4
Net purchases, sales, issuances and settlements, liabilities	7.5	7.4	6.8
Ending balance, liabilities	(45.2)	(160.3)	(176.5)
Changes in unrealized gains (losses) included in net income relating to positions still held, liabilities	109.9	5.7	(12.6)
Gross purchases, sales, issuances and settlements
Issuances, liabilities	2.8	(0.2)	1.8
Settlements, liabilities	4.7	7.6	5
Net purchases, sales, issuances and settlements, liabilities	7.5	7.4	6.8
Other liabilities
Changes in Level 3 fair value measurements rollforward, assets and liabilities
Beginning balance, liabilities		(59.9)	(68.1)
Total realized/unrealized gains (losses) included in net income, liabilities		(0.1)	(9.2)
Net purchases, sales, issuances and settlements, liabilities		60	17.4
Ending balance, liabilities			(59.9)
Changes in unrealized gains (losses) included in net income relating to positions still held, liabilities			(7.5)
Gross purchases, sales, issuances and settlements
Sales, liabilities			17.4
Settlements, liabilities		60
Net purchases, sales, issuances and settlements, liabilities		60	17.4
Fixed maturities | Available-for-sale
Changes in Level 3 fair value measurements rollforward, assets and liabilities
Beginning balance, assets	273.3	517.4	378.8
Total realized/unrealized gains (losses) included in net income, assets	(5.4)	(15.2)	(10.8)
Total realized/unrealized gains (losses) included in other comprehensive income, assets		15.8	8.3
Net purchases, sales, issuances and settlements, assets	197.2	(42.4)	143.2
Transfers into Level 3, assets	59.3	232.3	51.1
Transfers out of Level 3, assets	(385.6)	(434.6)	(53.2)
Ending balance, assets	138.8	273.3	517.4
Changes in unrealized gains (losses) included in net income relating to positions still held, assets	(2.8)	(5.1)	(10.8)
Gross purchases, sales, issuances and settlements
Purchases, assets	258.5	202.6	226
Sales, assets	(10.1)	(174.4)	(19.4)
Settlements, assets	(51.2)	(70.6)	(63.4)
Net purchases, sales, issuances and settlements, assets	197.2	(42.4)	143.2
Fixed maturities | Trading
Changes in Level 3 fair value measurements rollforward, assets and liabilities
Beginning balance, assets		92.9	135.5
Total realized/unrealized gains (losses) included in net income, assets		(2.4)	0.5
Net purchases, sales, issuances and settlements, assets	3.7	(92.4)	(43.1)
Transfers into Level 3, assets		1.9
Transfers out of Level 3, assets	(3.7)
Ending balance, assets			92.9
Changes in unrealized gains (losses) included in net income relating to positions still held, assets			0.1
Gross purchases, sales, issuances and settlements
Purchases, assets	3.7
Sales, assets			(18)
Settlements, assets		(92.4)	(25.1)
Net purchases, sales, issuances and settlements, assets	3.7	(92.4)	(43.1)
Non-U.S. governments | Available-for-sale
Changes in Level 3 fair value measurements rollforward, assets and liabilities
Beginning balance, assets	7.4	62.1	79.1
Total realized/unrealized gains (losses) included in net income, assets		(0.2)	(0.3)
Total realized/unrealized gains (losses) included in other comprehensive income, assets	(0.1)	(0.3)	1.4
Net purchases, sales, issuances and settlements, assets	(1.4)	(19)	14.5
Transfers out of Level 3, assets	(1.3)	(35.2)	(32.6)
Ending balance, assets	4.6	7.4	62.1
Changes in unrealized gains (losses) included in net income relating to positions still held, assets		(0.3)	(0.3)
Gross purchases, sales, issuances and settlements
Purchases, assets		67.4	19.3
Sales, assets		(85)	(3.4)
Settlements, assets	(1.4)	(1.4)	(1.4)
Net purchases, sales, issuances and settlements, assets	(1.4)	(19)	14.5
Corporate debt securities | Available-for-sale
Changes in Level 3 fair value measurements rollforward, assets and liabilities
Beginning balance, assets	128	259.1	223.9
Total realized/unrealized gains (losses) included in net income, assets	(1)	(2.3)	(2.2)
Total realized/unrealized gains (losses) included in other comprehensive income, assets	(0.1)	3.5	(3.2)
Net purchases, sales, issuances and settlements, assets	(15.2)	(29.2)	26.6
Transfers into Level 3, assets	1	22.2	15.7
Transfers out of Level 3, assets	(54.8)	(125.3)	(1.7)
Ending balance, assets	57.9	128	259.1
Changes in unrealized gains (losses) included in net income relating to positions still held, assets		(0.8)	(2.2)
Gross purchases, sales, issuances and settlements
Purchases, assets	12.9	112.3	66
Sales, assets	(10.1)	(89.4)	(13.7)
Settlements, assets	(18)	(52.1)	(25.7)
Net purchases, sales, issuances and settlements, assets	(15.2)	(29.2)	26.6
Commercial mortgage-backed securities | Available-for-sale
Changes in Level 3 fair value measurements rollforward, assets and liabilities
Beginning balance, assets	10.6	71.1	4.8
Total realized/unrealized gains (losses) included in net income, assets	(3.5)	(12.7)	(8.3)
Total realized/unrealized gains (losses) included in other comprehensive income, assets	0.2	11.1	8.8
Net purchases, sales, issuances and settlements, assets	0.1	(0.7)	32.7
Transfers into Level 3, assets	3.6	26.3	35.4
Transfers out of Level 3, assets	(1.5)	(84.5)	(2.3)
Ending balance, assets	9.5	10.6	71.1
Changes in unrealized gains (losses) included in net income relating to positions still held, assets	(1.9)	(4)	(8.3)
Gross purchases, sales, issuances and settlements
Purchases, assets			35.7
Settlements, assets	0.1	(0.7)	(3)
Net purchases, sales, issuances and settlements, assets	0.1	(0.7)	32.7
Collateralized debt obligations | Available-for-sale
Changes in Level 3 fair value measurements rollforward, assets and liabilities
Beginning balance, assets	125	33.6	63.5
Total realized/unrealized gains (losses) included in net income, assets	(0.9)
Total realized/unrealized gains (losses) included in other comprehensive income, assets	0.2	1.7	0.8
Net purchases, sales, issuances and settlements, assets	66.3	7.3	(30.7)
Transfers into Level 3, assets	54.7	183.7
Transfers out of Level 3, assets	(237)	(101.3)
Ending balance, assets	8.3	125	33.6
Changes in unrealized gains (losses) included in net income relating to positions still held, assets	(0.9)
Gross purchases, sales, issuances and settlements
Purchases, assets	93.6	22.9
Settlements, assets	(27.3)	(15.6)	(30.7)
Net purchases, sales, issuances and settlements, assets	66.3	7.3	(30.7)
Other debt obligations | Available-for-sale
Changes in Level 3 fair value measurements rollforward, assets and liabilities
Beginning balance, assets	2.3	91.5	7.5
Total realized/unrealized gains (losses) included in other comprehensive income, assets	(0.2)	(0.2)	0.5
Net purchases, sales, issuances and settlements, assets	147.4	(0.8)	100.1
Transfers into Level 3, assets		0.1
Transfers out of Level 3, assets	(91)	(88.3)	(16.6)
Ending balance, assets	58.5	2.3	91.5
Gross purchases, sales, issuances and settlements
Purchases, assets	152		105
Sales, assets			(2.3)
Settlements, assets	(4.6)	(0.8)	(2.6)
Net purchases, sales, issuances and settlements, assets	147.4	(0.8)	100.1
Equity securities
Changes in Level 3 fair value measurements rollforward, assets and liabilities
Beginning balance, assets	2.7
Total realized/unrealized gains (losses) included in net income, assets	12.9
Net purchases, sales, issuances and settlements, assets	(15.6)
Ending balance, assets		2.7
Gross purchases, sales, issuances and settlements
Sales, assets	(15.6)
Net purchases, sales, issuances and settlements, assets	(15.6)
Equity securities | Available-for-sale
Changes in Level 3 fair value measurements rollforward, assets and liabilities
Beginning balance, assets	2.7	2.7	4.1
Total realized/unrealized gains (losses) included in net income, assets			(1.3)
Total realized/unrealized gains (losses) included in other comprehensive income, assets			(0.1)
Ending balance, assets		2.7	2.7
Changes in unrealized gains (losses) included in net income relating to positions still held, assets			(1.4)
Equity securities | Trading
Changes in Level 3 fair value measurements rollforward, assets and liabilities
Net purchases, sales, issuances and settlements, assets		(0.7)
Transfers into Level 3, assets		0.7
Gross purchases, sales, issuances and settlements
Settlements, assets		(0.7)
Net purchases, sales, issuances and settlements, assets		(0.7)
Other investments
Changes in Level 3 fair value measurements rollforward, assets and liabilities
Beginning balance, assets	6.5	36.9	35.1
Total realized/unrealized gains (losses) included in net income, assets	1.7	3.9	1.5
Net purchases, sales, issuances and settlements, assets	9	(34.3)	0.3
Ending balance, assets	17.2	6.5	36.9
Changes in unrealized gains (losses) included in net income relating to positions still held, assets	1.7	3.8	1.5
Gross purchases, sales, issuances and settlements
Purchases, assets	9	2.4	0.7
Sales, assets		(36.7)	(0.4)
Net purchases, sales, issuances and settlements, assets	9	(34.3)	0.3
Separate account assets
Changes in Level 3 fair value measurements rollforward, assets and liabilities
Beginning balance, assets	7,651.4	7,354.8	7,013.9
Total realized/unrealized gains (losses) included in net income, assets	869.5	798.1	718.9
Total realized/unrealized gains (losses) included in other comprehensive income, assets	(0.3)	(1.1)
Net purchases, sales, issuances and settlements, assets	133.7	(464.8)	(382.5)
Transfers into Level 3, assets	2.3	3.1	5.3
Transfers out of Level 3, assets	(41.1)	(38.7)	(0.8)
Ending balance, assets	8,615.5	7,651.4	7,354.8
Changes in unrealized gains (losses) included in net income relating to positions still held, assets	829.8	696	669.7
Gross purchases, sales, issuances and settlements
Purchases, assets	743	401.4	528
Sales, assets	(608.4)	(651.4)	(654.5)
Issuances, assets	(206.5)	(284.6)	(345.4)
Settlements, assets	205.6	69.8	89.4
Net purchases, sales, issuances and settlements, assets	$ 133.7	$ (464.8)	$ (382.5)

Fair Value Measurements - Trans

Fair Value Measurements - Transfers (Details) - Recurring Fair Value Measurements - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Fixed maturities | Available-for-sale
Fair Value Hierarchy Levels Transfers
Transfers out of Level 2 into Level 3	$ 59.3	$ 232.3	$ 51.1
Transfers out of Level 3 into Level 2	385.6	434.6	53.2
Fixed maturities | Trading
Fair Value Hierarchy Levels Transfers
Transfers out of Level 2 into Level 3		1.9
Transfers out of Level 3 into Level 2	3.7
Non-U.S. governments | Available-for-sale
Fair Value Hierarchy Levels Transfers
Transfers out of Level 3 into Level 2	1.3	35.2	32.6
Corporate debt securities | Available-for-sale
Fair Value Hierarchy Levels Transfers
Transfers out of Level 2 into Level 3	1	22.2	15.7
Transfers out of Level 3 into Level 2	54.8	125.3	1.7
Commercial mortgage-backed securities | Available-for-sale
Fair Value Hierarchy Levels Transfers
Transfers out of Level 2 into Level 3	3.6	26.3	35.4
Transfers out of Level 3 into Level 2	1.5	84.5	2.3
Collateralized debt obligations | Available-for-sale
Fair Value Hierarchy Levels Transfers
Transfers out of Level 2 into Level 3	54.7	183.7
Transfers out of Level 3 into Level 2	237	101.3
Other debt obligations | Available-for-sale
Fair Value Hierarchy Levels Transfers
Transfers out of Level 2 into Level 3		0.1
Transfers out of Level 3 into Level 2	91	88.3	16.6
Equity securities | Trading
Fair Value Hierarchy Levels Transfers
Transfers out of Level 2 into Level 3		0.7
Separate account assets
Fair Value Hierarchy Levels Transfers
Transfers out of Level 1 into Level 2	293.2	12.5	45.4
Transfers out of Level 2 into Level 1	0.8	5.9	4.9
Transfers out of Level 2 into Level 3	2.3	3.1	5.3
Transfers out of Level 3 into Level 1	0.2
Transfers out of Level 3 into Level 2	$ 40.9	$ 38.7	$ 0.8

Fair Value Measurements - Quant

Fair Value Measurements - Quantitative Information for Level 3 Measurements (Details) - Recurring Fair Value Measurements $ in Millions	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Unobservable inputs
Assets measured at fair value	$ 210,374.7	$ 223,689
Liabilities measured at fair value	(293.8)	(688.4)
Fair value hierarchy Level 3
Unobservable inputs
Assets measured at fair value	8,790.1	7,958.1
Liabilities measured at fair value	(60.7)	(166.4)
Fair value hierarchy Level 3 | Investment contracts
Unobservable inputs
Liabilities measured at fair value	$ (45.2)	$ (160.3)
Embedded derivative, Valuation technique	us-gaap:ValuationTechniqueDiscountedCashFlowMember	us-gaap:ValuationTechniqueDiscountedCashFlowMember
Fair value hierarchy Level 3 | Investment contracts | Long duration interest rate | Minimum
Unobservable inputs
Embedded derivative, Input	2.8	2.5
Fair value hierarchy Level 3 | Investment contracts | Long duration interest rate | Maximum
Unobservable inputs
Embedded derivative, Input	2.9	2.7
Fair value hierarchy Level 3 | Investment contracts | Long-term equity market volatility | Minimum
Unobservable inputs
Embedded derivative, Input	16.7	18.7
Fair value hierarchy Level 3 | Investment contracts | Long-term equity market volatility | Maximum
Unobservable inputs
Embedded derivative, Input	27.8	41.1
Fair value hierarchy Level 3 | Investment contracts | Non-performance risk | Minimum
Unobservable inputs
Embedded derivative, Input	0.6	0.2
Fair value hierarchy Level 3 | Investment contracts | Non-performance risk | Maximum
Unobservable inputs
Embedded derivative, Input	1.6	1.2
Fair value hierarchy Level 3 | Investment contracts | Lapse rate | Minimum
Unobservable inputs
Embedded derivative, Input	1.3	1.3
Fair value hierarchy Level 3 | Investment contracts | Lapse rate | Maximum
Unobservable inputs
Embedded derivative, Input	16	16
Fair value hierarchy Level 3 | Non-U.S. governments | Available-for-sale
Unobservable inputs
Assets measured at fair value	$ 4.6	$ 6.1
Fixed maturities, available-for-sale, Valuation technique	us-gaap:ValuationTechniqueDiscountedCashFlowMember	us-gaap:ValuationTechniqueDiscountedCashFlowMember
Fair value hierarchy Level 3 | Non-U.S. governments | Available-for-sale | Discount rate
Unobservable inputs
Fixed maturities, available-for-sale, Input	3.2	2.7
Fair value hierarchy Level 3 | Non-U.S. governments | Available-for-sale | Discount rate | Weighted average input
Unobservable inputs
Fixed maturities, available-for-sale, Input	3.2	2.7
Fair value hierarchy Level 3 | Non-U.S. governments | Available-for-sale | Illiquidity premium
Unobservable inputs
Fixed maturities, available-for-sale, Input	0.50	0.50
Fair value hierarchy Level 3 | Non-U.S. governments | Available-for-sale | Illiquidity premium | Weighted average input
Unobservable inputs
Fixed maturities, available-for-sale, Input	0.50	0.50
Fair value hierarchy Level 3 | Non-U.S. governments | Available-for-sale | Comparability adjustment
Unobservable inputs
Fixed maturities, available-for-sale, Input	(0.25)	(0.25)
Fair value hierarchy Level 3 | Non-U.S. governments | Available-for-sale | Comparability adjustment | Weighted average input
Unobservable inputs
Fixed maturities, available-for-sale, Input	(0.25)	(0.25)
Fair value hierarchy Level 3 | Corporate debt securities | Available-for-sale
Unobservable inputs
Assets measured at fair value	$ 25.4	$ 51
Fixed maturities, available-for-sale, Valuation technique	us-gaap:ValuationTechniqueDiscountedCashFlowMember	us-gaap:ValuationTechniqueDiscountedCashFlowMember
Fair value hierarchy Level 3 | Corporate debt securities | Available-for-sale | Discount rate | Minimum
Unobservable inputs
Fixed maturities, available-for-sale, Input	3.3	1.9
Fair value hierarchy Level 3 | Corporate debt securities | Available-for-sale | Discount rate | Maximum
Unobservable inputs
Fixed maturities, available-for-sale, Input	4.5	7.5
Fair value hierarchy Level 3 | Corporate debt securities | Available-for-sale | Discount rate | Weighted average input
Unobservable inputs
Fixed maturities, available-for-sale, Input	3.9	4.6
Fair value hierarchy Level 3 | Corporate debt securities | Available-for-sale | Illiquidity premium | Minimum
Unobservable inputs
Fixed maturities, available-for-sale, Input	0	0
Fair value hierarchy Level 3 | Corporate debt securities | Available-for-sale | Illiquidity premium | Maximum
Unobservable inputs
Fixed maturities, available-for-sale, Input	0.60	0.60
Fair value hierarchy Level 3 | Corporate debt securities | Available-for-sale | Illiquidity premium | Weighted average input
Unobservable inputs
Fixed maturities, available-for-sale, Input	0.36	0.21
Fair value hierarchy Level 3 | Commercial mortgage-backed securities | Available-for-sale
Unobservable inputs
Assets measured at fair value		$ 0.5
Fixed maturities, available-for-sale, Valuation technique		us-gaap:ValuationTechniqueDiscountedCashFlowMember
Fair value hierarchy Level 3 | Commercial mortgage-backed securities | Available-for-sale | Discount rate
Unobservable inputs
Fixed maturities, available-for-sale, Input		6
Fair value hierarchy Level 3 | Commercial mortgage-backed securities | Available-for-sale | Discount rate | Weighted average input
Unobservable inputs
Fixed maturities, available-for-sale, Input		6
Fair value hierarchy Level 3 | Commercial mortgage-backed securities | Available-for-sale | Probability of default
Unobservable inputs
Fixed maturities, available-for-sale, Input		85
Fair value hierarchy Level 3 | Commercial mortgage-backed securities | Available-for-sale | Probability of default | Weighted average input
Unobservable inputs
Fixed maturities, available-for-sale, Input		85
Fair value hierarchy Level 3 | Commercial mortgage-backed securities | Available-for-sale | Potential loss severity
Unobservable inputs
Fixed maturities, available-for-sale, Input		32
Fair value hierarchy Level 3 | Commercial mortgage-backed securities | Available-for-sale | Potential loss severity | Weighted average input
Unobservable inputs
Fixed maturities, available-for-sale, Input		32
Fair value hierarchy Level 3 | Other debt obligations | Available-for-sale
Unobservable inputs
Assets measured at fair value	$ 1.7	$ 2.3
Fixed maturities, available-for-sale, Valuation technique	us-gaap:ValuationTechniqueDiscountedCashFlowMember	us-gaap:ValuationTechniqueDiscountedCashFlowMember
Fair value hierarchy Level 3 | Other debt obligations | Available-for-sale | Discount rate
Unobservable inputs
Fixed maturities, available-for-sale, Input	5	5
Fair value hierarchy Level 3 | Other debt obligations | Available-for-sale | Discount rate | Weighted average input
Unobservable inputs
Fixed maturities, available-for-sale, Input	5	5
Fair value hierarchy Level 3 | Other debt obligations | Available-for-sale | Illiquidity premium
Unobservable inputs
Fixed maturities, available-for-sale, Input	5	5
Fair value hierarchy Level 3 | Other debt obligations | Available-for-sale | Illiquidity premium | Weighted average input
Unobservable inputs
Fixed maturities, available-for-sale, Input	5	5
Fair value hierarchy Level 3 | Separate account assets
Unobservable inputs
Assets measured at fair value	$ 8,440.8	$ 7,484.6
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, mortgage loans | Discount rate | Minimum
Unobservable inputs
Separate account assets, Input	3.3	2.3
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, mortgage loans | Discount rate | Maximum
Unobservable inputs
Separate account assets, Input	4.7	8
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, mortgage loans | Discount rate | Weighted average input
Unobservable inputs
Separate account assets, Input	4.2	4.8
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, mortgage loans | Illiquidity premium | Minimum
Unobservable inputs
Separate account assets, Input	0	0
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, mortgage loans | Illiquidity premium | Maximum
Unobservable inputs
Separate account assets, Input	0.60	0.60
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, mortgage loans | Illiquidity premium | Weighted average input
Unobservable inputs
Separate account assets, Input	0.56	0.17
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, mortgage loans | Credit spread rate | Minimum
Unobservable inputs
Separate account assets, Input	0.85	0.62
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, mortgage loans | Credit spread rate | Maximum
Unobservable inputs
Separate account assets, Input	1.72	6.90
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, mortgage loans | Credit spread rate | Weighted average input
Unobservable inputs
Separate account assets, Input	1.68	2.93
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate | Discount rate | Minimum
Unobservable inputs
Separate account assets, Input	5.6	5.8
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate | Discount rate | Maximum
Unobservable inputs
Separate account assets, Input	11.5	17.2
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate | Discount rate | Weighted average input
Unobservable inputs
Separate account assets, Input	6.7	6.9
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate | Terminal capitalization rate | Minimum
Unobservable inputs
Separate account assets, Input	4.3	4.3
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate | Terminal capitalization rate | Maximum
Unobservable inputs
Separate account assets, Input	9.3	9.3
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate | Terminal capitalization rate | Weighted average input
Unobservable inputs
Separate account assets, Input	5.8	6.1
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate | Average market rent growth rate | Minimum
Unobservable inputs
Separate account assets, Input	2	0.5
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate | Average market rent growth rate | Maximum
Unobservable inputs
Separate account assets, Input	4.7	4.7
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate | Average market rent growth rate | Weighted average input
Unobservable inputs
Separate account assets, Input	2.9	2.9
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate debt | Loan to value | Minimum
Unobservable inputs
Separate account assets, Input	11	12.1
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate debt | Loan to value | Maximum
Unobservable inputs
Separate account assets, Input	69.3	71.4
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate debt | Loan to value | Weighted average input
Unobservable inputs
Separate account assets, Input	45.9	45.8
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate debt | Market interest rate | Minimum
Unobservable inputs
Separate account assets, Input	3.9	3.1
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate debt | Market interest rate | Maximum
Unobservable inputs
Separate account assets, Input	6	4.5
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate debt | Market interest rate | Weighted average input
Unobservable inputs
Separate account assets, Input	4.3	3.8

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Option on Consolidated VIEs and Equity Method Investments (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)item	Dec. 31, 2017USD ($)item	Dec. 31, 2016USD ($)
Commercial Mortgage Loans of Consolidated VIEs
Fair Value Option, Quantitative Disclosures
Fair value of assets for which fair value option was elected	$ 6.4	$ 9.3
Contractual principal amounts of assets for which the fair value option was elected	$ 6.5	$ 9.2
Number of loans which are more than 90 days past due or in nonaccrual status | item	0	0
Pre-tax gain (loss) due to change in fair value of assets and liabilities for which the fair value option was elected	$ (0.2)	$ (0.4)	$ (0.1)
Interest income	0.7	0.9	1.2
Obligations of Consolidated VIEs
Fair Value Option, Quantitative Disclosures
Credit risk portion of pre-tax gain (loss) due to change in fair value of liabilities for which the fair value option was elected		(0.1)	(9.8)
Pre-tax gain (loss) due to change in fair value of assets and liabilities for which the fair value option was elected		(0.1)	(9.8)
Interest expense		0.3	1.1
Real Estate Ventures
Fair Value Option, Quantitative Disclosures
Fair value of assets for which fair value option was elected	17.2	6.5
Pre-tax gain (loss) due to change in fair value of assets and liabilities for which the fair value option was elected	$ 1.7	3.8	1.5
Investment Funds
Fair Value Option, Quantitative Disclosures
Fair value of assets for which fair value option was elected		45.2
Pre-tax gain (loss) due to change in fair value of assets and liabilities for which the fair value option was elected		1.7	2.8
Dividend income		$ 1.9	$ 0.3

Fair Value Measurements - Finan

Fair Value Measurements - Financial Instruments Not Reported at Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Assets (liabilities)
Mortgage loans	$ 15,336.9	$ 14,150.5
Policy loans	801.4	808.3
Short-term debt	(42.9)	(39.5)
Long-term debt	(3,259.6)	(3,178.4)
Carrying amount
Assets (liabilities)
Mortgage loans	15,336.9	14,150.5
Policy loans	801.4	808.3
Other investments	247.4	236.8
Cash and cash equivalents not required to be reported at fair value	1,201.6	677.5
Investment contracts	(32,572.1)	(31,003)
Short-term debt	(42.9)	(39.5)
Long-term debt	(3,259.6)	(3,178.4)
Separate account liabilities	(132,562.9)	(145,552.5)
Bank deposits	(500)	(2,336.4)
Cash collateral payable	(79.5)	(125.8)
Assets (liabilities) measured at fair value
Assets (liabilities)
Mortgage loans	15,383.6	14,443.2
Policy loans	965.5	998.4
Other investments	239.8	234
Cash and cash equivalents not required to be reported at fair value	1,201.6	677.5
Investment contracts	(31,428.2)	(30,468.8)
Short-term debt	(42.9)	(39.5)
Long-term debt	(3,257.1)	(3,442.5)
Separate account liabilities	(131,491.4)	(144,300.5)
Bank deposits	(489.1)	(2,328.9)
Cash collateral payable	(79.5)	(125.8)
Assets (liabilities) measured at fair value | Fair value hierarchy Level 1
Assets (liabilities)
Cash and cash equivalents not required to be reported at fair value	1,148.6	659.9
Bank deposits		(1,780.3)
Cash collateral payable	(79.5)	(125.8)
Assets (liabilities) measured at fair value | Fair value hierarchy Level 2
Assets (liabilities)
Other investments	157.5	159.4
Cash and cash equivalents not required to be reported at fair value	53	17.6
Investment contracts	(4,085.7)	(4,736.1)
Short-term debt	(42.9)	(39.5)
Long-term debt	(3,129.3)	(3,393.5)
Bank deposits	(489.1)	(548.6)
Assets (liabilities) measured at fair value | Fair value hierarchy Level 3
Assets (liabilities)
Mortgage loans	15,383.6	14,443.2
Policy loans	965.5	998.4
Other investments	82.3	74.6
Investment contracts	(27,342.5)	(25,732.7)
Long-term debt	(127.8)	(49)
Separate account liabilities	$ (131,491.4)	$ (144,300.5)

Statutory Insurance Financial_3

Statutory Insurance Financial Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statutory disclosures
Impact of prescribed practices on statutory surplus	$ 546.3	$ 275.6
Impact of permitted practices on statutory surplus	(69.9)	(123.9)
Statutory reserves assumed by affiliated reinsurance subsidiaries	6,850.3	5,977.3
Admitted assets under prescribed and permitted statutory accounting practices	2,852	2,417.7
Statutory net income	1,017.6	1,976.7	$ 996.7
Statutory capital and surplus	$ 5,319.6	$ 4,946.8	$ 4,643.8

Segment Information - Reconcili

Segment Information - Reconciliation of Segment Assets to Consolidated (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Segment Information: Assets
Total assets	$ 243,036.1	$ 253,941.2
Retirement and Income Solutions
Segment Information: Assets
Total assets	163,833.6	169,757.8
Principal Global Investors
Segment Information: Assets
Total assets	2,301	2,322.9
Principal International
Segment Information: Assets
Total assets	46,701.2	51,684
U.S. Insurance Solutions
Segment Information: Assets
Total assets	25,388.2	25,092.9
Corporate
Segment Information: Assets
Total assets	$ 4,812.1	$ 5,083.6

Segment Information - Reconci_2

Segment Information - Reconciliation of Segment Operating Revenues and Earnings to Consolidated (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating Revenue And Profit (Loss) From Segments To Consolidated
Net realized capital gains (losses), net of related revenue adjustments									$ (132.3)	$ 472.2	$ 80.9
Total revenues	$ 3,770.6	$ 4,348.1	$ 3,234.9	$ 2,883.6	$ 3,237.7	$ 4,627.8	$ 3,178.3	$ 3,049.4	14,237.2	14,093.2	12,394.1
Pre-tax net realized capital gains (losses), as adjusted									(126.4)	520.3	46.3
Income (loss) before income taxes									1,784.4	2,252.2	1,591.7
Retirement and Income Solutions
Operating Revenue And Profit (Loss) From Segments To Consolidated
Inter-segment revenues									393.6	402.8	373.3
Principal Global Investors
Operating Revenue And Profit (Loss) From Segments To Consolidated
Inter-segment revenues									262.8	250.9	235.7
Operating Segments
Operating Revenue And Profit (Loss) From Segments To Consolidated
Operating revenues									14,424.8	13,703.3	12,380.8
Pre-tax operating earnings (losses)									1,954.5	1,873.7	1,668.7
Operating Segments | Retirement and Income Solutions
Operating Revenue And Profit (Loss) From Segments To Consolidated
Operating revenues									7,285.9	7,165.6	6,150.7
Pre-tax operating earnings (losses)									880.6	899.8	794.5
Operating Segments | Retirement and Income Solutions | Retirement and Income Solutions - Fee
Operating Revenue And Profit (Loss) From Segments To Consolidated
Operating revenues									1,831	1,821	1,743.2
Operating Segments | Retirement and Income Solutions | Retirement and Income Solutions - Spread
Operating Revenue And Profit (Loss) From Segments To Consolidated
Operating revenues									5,454.9	5,344.6	4,407.5
Operating Segments | Principal Global Investors
Operating Revenue And Profit (Loss) From Segments To Consolidated
Operating revenues									1,736.3	1,444.4	1,387.1
Pre-tax operating earnings (losses)									553.2	469.7	443.8
Operating Segments | Principal International
Operating Revenue And Profit (Loss) From Segments To Consolidated
Operating revenues									1,372.9	1,251.5	1,252
Pre-tax operating earnings (losses)									255.7	330	288.1
Operating Segments | U.S. Insurance Solutions
Operating Revenue And Profit (Loss) From Segments To Consolidated
Operating revenues									4,080.9	3,902.6	3,637.3
Pre-tax operating earnings (losses)									443.6	384.7	361.2
Operating Segments | U.S. Insurance Solutions | Specialty Benefits insurance
Operating Revenue And Profit (Loss) From Segments To Consolidated
Operating revenues									2,329.4	2,171.8	2,011.4
Operating Segments | U.S. Insurance Solutions | Individual Life insurance
Operating Revenue And Profit (Loss) From Segments To Consolidated
Operating revenues									1,751.7	1,731	1,626.1
Operating Segments | U.S. Insurance Solutions | U.S. Insurance Solutions Eliminations
Operating Revenue And Profit (Loss) From Segments To Consolidated
Operating revenues									(0.2)	(0.2)	(0.2)
Operating Segments | Corporate
Operating Revenue And Profit (Loss) From Segments To Consolidated
Operating revenues									(51.2)	(60.8)	(46.3)
Pre-tax operating earnings (losses)									(178.6)	(210.5)	(218.9)
Reconciling Items
Operating Revenue And Profit (Loss) From Segments To Consolidated
Net realized capital gains (losses), net of related revenue adjustments									(132.3)	472.2	80.9
Revenue adjustments related to equity method investments									(55.3)	(82.3)	(67.6)
Pre-tax net realized capital gains (losses), as adjusted									(126.4)	520.3	46.3
Pre-tax other adjustments										(70)	(86.4)
Earnings adjustments related to equity method investments and noncontrolling interest									$ (43.7)	$ (71.8)	$ (36.9)

Segment Information - Net Reali

Segment Information - Net Realized Capital Gains (Losses) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Information: Net realized capital gains (losses), as adjusted
Net realized capital gains (losses)	$ (75.4)	$ 524.2	$ 171.1
Derivative and hedging-related adjustments	(64.9)	(59.4)	(94.1)
Market value adjustments to fee revenues	0.1	(0.1)	(2.5)
Adjustments related to equity method investments	(5.4)	1.4	0.1
Adjustments related to sponsored investment funds	12.9	6.3	6.1
Recognition of front-end fee revenue	0.4	(0.2)	0.2
Net realized capital gains (losses), net of related revenue adjustments	(132.3)	472.2	80.9
Amortization of deferred acquisition costs and other actuarial balances	(27)	55	(77.4)
Capital (gains) losses distributed	14.4	(55)	(7.2)
Market value adjustments of embedded derivatives	18.5	48.1	50
Pre-tax net realized capital gains (losses), as adjusted	$ (126.4)	$ 520.3	$ 46.3

Segment Information - Income Ta

Segment Information - Income Tax Expense by Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Information: Income tax expense (benefit)
Income taxes (benefits)	$ 230.7	$ (72.3)	$ 229.9
Operating Segments
Segment Information: Income tax expense (benefit)
Total segment income tax expense (benefit) from operating earnings (losses)	357	395.1	337.6
Operating Segments | Retirement and Income Solutions
Segment Information: Income tax expense (benefit)
Total segment income tax expense (benefit) from operating earnings (losses)	76.9	109.5	98.6
Operating Segments | Principal Global Investors
Segment Information: Income tax expense (benefit)
Total segment income tax expense (benefit) from operating earnings (losses)	147.2	181.9	166.8
Operating Segments | Principal International
Segment Information: Income tax expense (benefit)
Total segment income tax expense (benefit) from operating earnings (losses)	69.8	81.8	62.7
Operating Segments | U.S. Insurance Solutions
Segment Information: Income tax expense (benefit)
Total segment income tax expense (benefit) from operating earnings (losses)	80.7	124.2	118.8
Operating Segments | Corporate
Segment Information: Income tax expense (benefit)
Total segment income tax expense (benefit) from operating earnings (losses)	(17.6)	(102.3)	(109.3)
Reconciling Items
Segment Information: Income tax expense (benefit)
Tax expense (benefit) related to net realized capital gains (losses), as adjusted	(71.4)	209.1	(6.6)
Tax expense (benefit) related to other after-tax adjustments		(594.5)	(34.4)
Tax expense (benefit) associated with certain adjustments related to equity method investments and noncontrolling interest	$ (54.9)	(82)	$ (66.7)
Tax benefit associated with the U.S. tax reform		$ 568.3

Segment Information - Depreciat

Segment Information - Depreciation and Amortization Expense by Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Information: Depreciation and amortization expense
Depreciation and amortization expense	$ 151	$ 139.8	$ 133.5
Retirement and Income Solutions
Segment Information: Depreciation and amortization expense
Depreciation and amortization expense	32.5	30.6	30.4
Principal Global Investors
Segment Information: Depreciation and amortization expense
Depreciation and amortization expense	21.9	19.8	18.8
Principal International
Segment Information: Depreciation and amortization expense
Depreciation and amortization expense	59.6	53.1	50.1
U.S. Insurance Solutions
Segment Information: Depreciation and amortization expense
Depreciation and amortization expense	26.2	28.1	26.8
Corporate
Segment Information: Depreciation and amortization expense
Depreciation and amortization expense	$ 10.8	$ 8.2	$ 7.4

Revenues from Contracts with _3

Revenues from Contracts with Customers - Disaggregation by Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues from Contracts with Customers - Disaggregation of Revenues
Total fees and other revenues per consolidated statements of operations	$ 4,273.8	$ 3,892.3	$ 3,627.4
Operating Segments
Revenues from Contracts with Customers - Disaggregation of Revenues
Total segment revenue from contracts with customers	2,658.9	2,299.2	2,191
Operating Segments | Retirement and Income Solutions
Revenues from Contracts with Customers - Disaggregation of Revenues
Total segment revenue from contracts with customers	262.9	268.2	267.9
Operating Segments | Principal Global Investors
Revenues from Contracts with Customers - Disaggregation of Revenues
Total segment revenue from contracts with customers	1,700.5	1,406.1	1,348.9
Fees and other revenues not within the scope of revenue recognition guidance	30.4	28.1	24.2
Total fees and other revenues per consolidated statements of operations	1,730.9	1,434.2	1,373.1
Operating Segments | Principal International
Revenues from Contracts with Customers - Disaggregation of Revenues
Total segment revenue from contracts with customers	477.1	426.4	398.7
Fees and other revenues not within the scope of revenue recognition guidance	7.3	7.1	8.7
Total fees and other revenues per consolidated statements of operations	484.4	433.5	407.4
Operating Segments | U.S. Insurance Solutions
Revenues from Contracts with Customers - Disaggregation of Revenues
Total segment revenue from contracts with customers	57	50.1	49.8
Operating Segments | Corporate
Revenues from Contracts with Customers - Disaggregation of Revenues
Total segment revenue from contracts with customers	161.4	148.4	125.7
Fees and other revenues not within the scope of revenue recognition guidance	(316.3)	(292.8)	(275.8)
Total fees and other revenues per consolidated statements of operations	(154.9)	(144.4)	(150.1)
Operating Segments | Retirement and Income Solutions - Fee | Retirement and Income Solutions
Revenues from Contracts with Customers - Disaggregation of Revenues
Total segment revenue from contracts with customers	252.4	258	259.1
Fees and other revenues not within the scope of revenue recognition guidance	1,132.9	1,111.2	1,021.5
Total fees and other revenues per consolidated statements of operations	1,385.3	1,369.2	1,280.6
Operating Segments | Retirement and Income Solutions - Spread | Retirement and Income Solutions
Revenues from Contracts with Customers - Disaggregation of Revenues
Total segment revenue from contracts with customers	10.5	10.2	8.8
Fees and other revenues not within the scope of revenue recognition guidance	12.5	15	15.3
Total fees and other revenues per consolidated statements of operations	23	25.2	24.1
Operating Segments | Specialty Benefits insurance | U.S. Insurance Solutions
Revenues from Contracts with Customers - Disaggregation of Revenues
Total segment revenue from contracts with customers	14.8	13.9	13.4
Fees and other revenues not within the scope of revenue recognition guidance	20.6	21.3	22.6
Total fees and other revenues per consolidated statements of operations	35.4	35.2	36
Operating Segments | Individual Life insurance | U.S. Insurance Solutions
Revenues from Contracts with Customers - Disaggregation of Revenues
Total segment revenue from contracts with customers	42.4	36.4	36.6
Fees and other revenues not within the scope of revenue recognition guidance	727	703.5	622.2
Total fees and other revenues per consolidated statements of operations	769.4	739.9	658.8
Operating Segments | U.S. Insurance Solutions Eliminations | U.S. Insurance Solutions
Revenues from Contracts with Customers - Disaggregation of Revenues
Total segment revenue from contracts with customers	(0.2)	(0.2)	(0.2)
Reconciling Items
Revenues from Contracts with Customers - Disaggregation of Revenues
Fees and other revenues not within the scope of revenue recognition guidance	1,614.4	1,593.4	1,438.7
Pre-tax other adjustments	$ 0.5	$ (0.3)	$ (2.3)

Revenues from Contracts with _4

Revenues from Contracts with Customers - Disaggregation within Segments (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues from Contracts with Customers - Disaggregation of Revenues
Total fees and other revenues		$ 4,273.8	$ 3,892.3	$ 3,627.4
Premiums and other considerations		6,409.6	6,217.4	5,299.1
Net investment income (loss)		3,629.2	3,459.3	3,296.5
Retirement and Income Solutions
Revenues from Contracts with Customers - Disaggregation of Revenues
Premiums and other considerations		3,635.9	3,671.1	2,860.9
Net investment income (loss)		2,204.1	2,069.2	1,931.2
Principal Global Investors
Revenues from Contracts with Customers - Disaggregation of Revenues
Net investment income (loss)		4.2	13.4	12.6
Principal International
Revenues from Contracts with Customers - Disaggregation of Revenues
Premiums and other considerations		317.2	218	274.6
Net investment income (loss)		494.9	510.6	491.4
U.S. Insurance Solutions
Revenues from Contracts with Customers - Disaggregation of Revenues
Premiums and other considerations		2,456.5	2,328.3	2,163.6
Net investment income (loss)		806.2	775	751.2
Corporate
Revenues from Contracts with Customers - Disaggregation of Revenues
Net investment income (loss)		119.8	91.1	110.1
Operating Segments
Revenues from Contracts with Customers - Disaggregation of Revenues
Total revenues from contracts with customers		2,658.9	2,299.2	2,191
Total operating revenues		14,424.8	13,703.3	12,380.8
Operating Segments | Retirement and Income Solutions
Revenues from Contracts with Customers - Disaggregation of Revenues
Total revenues from contracts with customers		262.9	268.2	267.9
Total operating revenues		7,285.9	7,165.6	6,150.7
Operating Segments | Retirement and Income Solutions | Retirement and Income Solutions - Fee
Revenues from Contracts with Customers - Disaggregation of Revenues
Total revenues from contracts with customers		252.4	258	259.1
Fees and other revenues not within the scope of revenue recognition guidance		1,132.9	1,111.2	1,021.5
Total fees and other revenues		1,385.3	1,369.2	1,280.6
Premiums and other considerations		4	3.8	0.3
Net investment income (loss)		441.7	448	462.3
Total operating revenues		1,831	1,821	1,743.2
Operating Segments | Retirement and Income Solutions | Retirement and Income Solutions - Fee | Administrative service fee revenue
Revenues from Contracts with Customers - Disaggregation of Revenues
Total revenues from contracts with customers		250.7	256.4	249.1
Operating Segments | Retirement and Income Solutions | Retirement and Income Solutions - Fee | Other fee revenue
Revenues from Contracts with Customers - Disaggregation of Revenues
Total revenues from contracts with customers		1.7	1.6	10
Operating Segments | Retirement and Income Solutions | Retirement and Income Solutions - Spread
Revenues from Contracts with Customers - Disaggregation of Revenues
Total revenues from contracts with customers		10.5	10.2	8.8
Fees and other revenues not within the scope of revenue recognition guidance		12.5	15	15.3
Total fees and other revenues		23	25.2	24.1
Premiums and other considerations		3,631.9	3,667.3	2,860.6
Net investment income (loss)		1,800	1,652.1	1,522.8
Total operating revenues		5,454.9	5,344.6	4,407.5
Operating Segments | Retirement and Income Solutions | Retirement and Income Solutions - Spread | Deposit account fee revenue
Revenues from Contracts with Customers - Disaggregation of Revenues
Total revenues from contracts with customers		10.5	10.2	8.8
Operating Segments | Principal Global Investors
Revenues from Contracts with Customers - Disaggregation of Revenues
Total revenues from contracts with customers		1,700.5	1,406.1	1,348.9
Fees and other revenues not within the scope of revenue recognition guidance		30.4	28.1	24.2
Total fees and other revenues		1,730.9	1,434.2	1,373.1
Net investment income (loss)		5.4	10.2	14
Total operating revenues		1,736.3	1,444.4	1,387.1
Operating Segments | Principal Global Investors | Management fee revenue
Revenues from Contracts with Customers - Disaggregation of Revenues
Total revenues from contracts with customers		1,244.5	1,217	1,120.2
Operating Segments | Principal Global Investors | Other fee revenue
Revenues from Contracts with Customers - Disaggregation of Revenues
Total revenues from contracts with customers		456	189.1	228.7
Performance fee recognized resulting from realignment of a real estate investment team	$ 253.1
Operating Segments | Principal International
Revenues from Contracts with Customers - Disaggregation of Revenues
Total revenues from contracts with customers		477.1	426.4	398.7
Fees and other revenues not within the scope of revenue recognition guidance		7.3	7.1	8.7
Total fees and other revenues		484.4	433.5	407.4
Premiums and other considerations		317.2	218	274.6
Net investment income (loss)		571.3	600	570
Total operating revenues		1,372.9	1,251.5	1,252
Operating Segments | Principal International | Latin America
Revenues from Contracts with Customers - Disaggregation of Revenues
Total revenues from contracts with customers		370.8	318.9	309.6
Operating Segments | Principal International | Asia
Revenues from Contracts with Customers - Disaggregation of Revenues
Total revenues from contracts with customers		106.3	108.3	89.7
Operating Segments | Principal International | Principal International Corporate / Regional Office
Revenues from Contracts with Customers - Disaggregation of Revenues
Total revenues from contracts with customers		0.9	0.7	0.9
Operating Segments | Principal International | Geographical Eliminations
Revenues from Contracts with Customers - Disaggregation of Revenues
Total revenues from contracts with customers		(0.9)	(1.5)	(1.5)
Operating Segments | Principal International | Management fee revenue
Revenues from Contracts with Customers - Disaggregation of Revenues
Total revenues from contracts with customers		472.1	414.6	392.8
Operating Segments | Principal International | Other fee revenue
Revenues from Contracts with Customers - Disaggregation of Revenues
Total revenues from contracts with customers		5	11.8	5.9
Operating Segments | U.S. Insurance Solutions
Revenues from Contracts with Customers - Disaggregation of Revenues
Total revenues from contracts with customers		57	50.1	49.8
Total operating revenues		4,080.9	3,902.6	3,637.3
Operating Segments | U.S. Insurance Solutions | Specialty Benefits insurance
Revenues from Contracts with Customers - Disaggregation of Revenues
Total revenues from contracts with customers		14.8	13.9	13.4
Fees and other revenues not within the scope of revenue recognition guidance		20.6	21.3	22.6
Total fees and other revenues		35.4	35.2	36
Premiums and other considerations		2,134.1	1,985.9	1,826.3
Net investment income (loss)		159.9	150.7	149.1
Total operating revenues		2,329.4	2,171.8	2,011.4
Operating Segments | U.S. Insurance Solutions | Specialty Benefits insurance | Administrative service fee revenue
Revenues from Contracts with Customers - Disaggregation of Revenues
Total revenues from contracts with customers		14.8	13.9	13.4
Operating Segments | U.S. Insurance Solutions | Individual Life insurance
Revenues from Contracts with Customers - Disaggregation of Revenues
Total revenues from contracts with customers		42.4	36.4	36.6
Fees and other revenues not within the scope of revenue recognition guidance		727	703.5	622.2
Total fees and other revenues		769.4	739.9	658.8
Premiums and other considerations		322.4	342.4	337.3
Net investment income (loss)		659.9	648.7	630
Total operating revenues		1,751.7	1,731	1,626.1
Operating Segments | U.S. Insurance Solutions | Individual Life insurance | Administrative service fee revenue
Revenues from Contracts with Customers - Disaggregation of Revenues
Total revenues from contracts with customers		22.8	21.5	19.6
Operating Segments | U.S. Insurance Solutions | Individual Life insurance | Commission income
Revenues from Contracts with Customers - Disaggregation of Revenues
Total revenues from contracts with customers		19.6	14.9	17
Operating Segments | Corporate
Revenues from Contracts with Customers - Disaggregation of Revenues
Total revenues from contracts with customers		161.4	148.4	125.7
Fees and other revenues not within the scope of revenue recognition guidance		(316.3)	(292.8)	(275.8)
Total fees and other revenues		(154.9)	(144.4)	(150.1)
Net investment income (loss)		103.7	83.6	103.8
Total operating revenues		(51.2)	(60.8)	(46.3)
Operating Segments | Corporate | Other fee revenue
Revenues from Contracts with Customers - Disaggregation of Revenues
Total revenues from contracts with customers		35.4	30.1	23.9
Operating Segments | Corporate | Commission income
Revenues from Contracts with Customers - Disaggregation of Revenues
Total revenues from contracts with customers		316.1	299.7	279.3
Operating Segments | Corporate | Revenue by type - Eliminations
Revenues from Contracts with Customers - Disaggregation of Revenues
Total revenues from contracts with customers		$ (190.1)	$ (181.4)	$ (177.5)

Revenues from Contracts with _5

Revenues from Contracts with Customers - Contract Costs (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)
Contract costs
Contract cost asset	$ 137.6
Practical expedient, incremental costs of obtaining a contract	true
Amortization expense of contract cost asset	$ 23.8
Impairment loss for contract cost asset	$ 0

Stock-Based Compensation Plan_2

Stock-Based Compensation Plans - Stock-Based Awards (Details) - USD ($) shares in Millions, $ in Millions	12 Months Ended			156 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2018	May 20, 2014
Stock-Based Compensation Plans
Stock-Based Compensation Plans - Disclosures
Compensation cost	$ 77.5	$ 80.6	$ 73.8
Related income tax benefit	16.7	27.1	21.5
Capitalized as part of an asset	$ 1.9	$ 2.5	$ 2.8
Amended and Restated 2010 Stock Incentive Plan and 2005 Directors Stock Plan
Stock-Based Compensation Plans - Disclosures
Number of shares that will be granted					0
Stock Incentive Plan and Directors Stock Plan
Stock-Based Compensation Plans - Disclosures
Options granted (in shares)				0
Awards or units granted (in shares)				0
2014 Stock Incentive Plan and 2014 Directors Stock Plan
Stock-Based Compensation Plans - Disclosures
Maximum number of new shares of common stock available for grant (in shares)	8.7			8.7

Stock-Based Compensation Plan_3

Stock-Based Compensation Plans - Nonqualified Stock Options, Activity (Details) - Nonqualified Stock Options - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Change in options outstanding
Options outstanding at beginning of period (in shares)	4.3
Options granted (in shares)	0.8
Options exercised (in shares)	0.8
Options expired (in shares)	0.1
Options outstanding at end of period (in shares)	4.2	4.3
Options vested or expected to vest at end of period (in shares)	4.2
Options exercisable at end of period (in shares)	2.8
Options outstanding at beginning of period, Weighted-average exercise price (in dollars per share)	$ 42.65
Options granted, Weighted-average exercise price (in dollars per share)	63.98
Options exercised, Weighted-average exercise price (in dollars per share)	39.23
Options expired, Weighted-average exercise price (in dollars per share)	57.26
Options outstanding at end of period, Weighted-average exercise price (in dollars per share)	46.77	$ 42.65
Options vested or expected to vest at end of period, Weighted-average exercise price (in dollars per share)	46.74
Options exercisable at end of period, Weighted-average exercise price (in dollars per share)	$ 41.43
Options outstanding at end of period, Intrinsic value	$ 20
Options vested or expected to vest at end of period, Intrinsic value	20
Options exercisable at end of period, Intrinsic value	17.5
Total intrinsic value of options exercised	$ 18.7	$ 53	$ 25.7
2014 Stock Incentive Plan, Amended and Restated 2010 Stock Incentive Plan and Stock Incentive Plan
Stock-Based Compensation Plans - Disclosures
Option expiration period	10 years
Vesting period	3 years
Change in options outstanding
Options granted (in shares)	0.8	0.7	1.1

Stock-Based Compensation Plan_4

Stock-Based Compensation Plans - Nonqualified Stock Options, Range of Exercise Prices (Details) - Nonqualified Stock Options - $ / shares shares in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Summary of weighted-average remaining contractual lives for stock options outstanding and range of exercise prices
Number of options outstanding (in shares)	4.2	4.3
Weighted-average remaining contractual life for stock options exercisable	5 years 4 months 24 days
Range of exercise prices, Range 1
Summary of weighted-average remaining contractual lives for stock options outstanding and range of exercise prices
Lower limit of exercise price range (in dollars per share)	$ 11.07
Upper limit of exercise price range (in dollars per share)	$ 21.69
Number of options outstanding (in shares)	0.1
Weighted-average remaining contractual life	1 month 6 days
Range of exercise prices, Range 2
Summary of weighted-average remaining contractual lives for stock options outstanding and range of exercise prices
Lower limit of exercise price range (in dollars per share)	$ 21.70
Upper limit of exercise price range (in dollars per share)	$ 32.32
Number of options outstanding (in shares)	0.7
Weighted-average remaining contractual life	3 years 6 months
Range of exercise prices, Range 3
Summary of weighted-average remaining contractual lives for stock options outstanding and range of exercise prices
Lower limit of exercise price range (in dollars per share)	$ 32.33
Upper limit of exercise price range (in dollars per share)	$ 42.95
Number of options outstanding (in shares)	1
Weighted-average remaining contractual life	6 years 4 months 24 days
Range of exercise prices, Range 4
Summary of weighted-average remaining contractual lives for stock options outstanding and range of exercise prices
Lower limit of exercise price range (in dollars per share)	$ 42.96
Upper limit of exercise price range (in dollars per share)	$ 53.58
Number of options outstanding (in shares)	1
Weighted-average remaining contractual life	5 years 8 months 12 days
Range of exercise prices, Range 5
Summary of weighted-average remaining contractual lives for stock options outstanding and range of exercise prices
Lower limit of exercise price range (in dollars per share)	$ 53.59
Upper limit of exercise price range (in dollars per share)	$ 64.22
Number of options outstanding (in shares)	1.4
Weighted-average remaining contractual life	8 years 8 months 12 days
Range of exercise prices, Total Range
Summary of weighted-average remaining contractual lives for stock options outstanding and range of exercise prices
Lower limit of exercise price range (in dollars per share)	$ 11.07
Upper limit of exercise price range (in dollars per share)	$ 64.22
Number of options outstanding (in shares)	4.2
Weighted-average remaining contractual life	0 years

Stock-Based Compensation Plan_5

Stock-Based Compensation Plans - Nonqualified Stock Options, Assumptions and Other Disclosures (Details) - Nonqualified Stock Options - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Assumptions used to estimate fair value of stock options granted during period
Weighted-average expected volatility (as a percent)	26.00%	27.60%	31.70%
Weighted-average expected term	7 years	7 years	6 years 6 months
Weighted-average risk-free interest rate (as a percent)	2.80%	2.20%	1.50%
Weighted-average expected dividend yield (as a percent)	3.19%	2.87%	4.07%
Weighted-average estimated fair value of stock options granted (in dollars per share)	$ 14.85	$ 15.31	$ 8.91
Other nonqualified stock option disclosures
Unrecognized compensation costs	$ 1.6
Weighted-average service period over which unrecognized compensation costs will be recognized	1 year 9 months 18 days
Cash received from stock options exercised	$ 29	$ 133.9	$ 15.3
Tax benefits realized for the tax deductions from options exercised	$ 3.9	$ 18.1	$ 9

Stock-Based Compensation Plan_6

Stock-Based Compensation Plans - Performance Share Awards and Restricted Stock Units (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Performance Share Awards
Stock-Based Compensation Plans - Disclosures
Performance period for goals	3 years
Change in nonvested units outstanding
Awards or units outstanding at beginning of period (in shares)	0.8
Awards or units granted (in shares)	0.2	0.2	0.3
Awards or units vested (in shares)	0.4
Awards or units outstanding at end of period (in shares)	0.6	0.8
Awards or units outstanding at beginning of period, Weighted-average grant-date fair value (in dollars per share)	$ 48.82
Awards or units granted, Weighted-average grant-date fair value (in dollars per share)	63.98	$ 62.98	$ 37.38
Awards or units vested, Weighted-average grant-date fair value (in dollars per share)	51.33
Awards or units outstanding at end of period, Weighted-average grant-date fair value (in dollars per share)	$ 52.50	$ 48.82
Other award and unit disclosures
Intrinsic value from awards or units vested	$ 21.5	$ 15.9	$ 18.1
Lower limit multiple of initial target awards (as a percent)	0.00%
Upper limit multiple of initial target awards (as a percent)	150.00%
Unrecognized compensation costs	$ 2
Weighted-average service period over which unrecognized compensation costs will be recognized	1 year 7 months 6 days
Tax benefits realized for the tax deductions from awards or units paid out	$ 3.3	$ 5.4	$ 4.8
Restricted Stock Units
Change in nonvested units outstanding
Awards or units outstanding at beginning of period (in shares)	2.8
Awards or units granted (in shares)	0.8	0.8	1.3
Awards or units vested (in shares)	0.8
Awards or units canceled (in shares)	0.1
Awards or units outstanding at end of period (in shares)	2.7	2.8
Awards or units outstanding at beginning of period, Weighted-average grant-date fair value (in dollars per share)	$ 48.70
Awards or units granted, Weighted-average grant-date fair value (in dollars per share)	63.68	$ 62.85	$ 37.59
Awards or units vested, Weighted-average grant-date fair value (in dollars per share)	51.63
Awards or units canceled, Weighted-average grant-date fair value (in dollars per share)	51.90
Awards or units outstanding at end of period, Weighted-average grant-date fair value (in dollars per share)	$ 52.17	$ 48.70
Other award and unit disclosures
Intrinsic value from awards or units vested	$ 51.1	$ 59.9	$ 46.2
Unrecognized compensation costs	$ 42.6
Weighted-average service period over which unrecognized compensation costs will be recognized	1 year 8 months 12 days
Tax benefits realized for the tax deductions from awards or units paid out	$ 10.8	$ 20.8	$ 16.1
2014 Stock Incentive Plan, Amended and Restated 2010 Stock Incentive Plan and Stock Incentive Plan | Restricted Stock Units
Other award and unit disclosures
Vesting period	3 years
2014 Directors Stock Plan and 2005 Directors Stock Plan | Restricted Stock Units
Other award and unit disclosures
Vesting period	1 year

Stock-Based Compensation Plan_7

Stock-Based Compensation Plans - Employee Stock Purchase Plan (Details) - Employee Stock Purchase Plan - USD ($) $ / shares in Units, shares in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Stock-Based Compensation Plans - Disclosures
Maximum value of company common stock that can be purchased by an employee per year	$ 25,000
Employee purchase price as a percent of fair market value (as a percent)	85.00%
Share purchases under employee stock purchase plan (in shares)	0.7	0.5	0.7
Weighted-average fair value of discount on employee stock purchase plan (in dollars per share)	$ 9.27	$ 14.72	$ 14
Intrinsic value from shares settled	$ 6,100,000	$ 7,900,000	$ 10,200,000
Cash received from shares issued	30,100,000	27,600,000	25,500,000
Tax benefits realized from the settlement of share-based payment arrangements	$ 700,000	$ 2,000,000	$ 600,000
Shares available to be issued under employee stock purchase plan (in shares)	2.2

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Net income (loss)	$ 231.7	$ 460	$ 459.5	$ 402.5	$ 842.9	$ 813.2	$ 314.8	$ 353.6	$ 1,553.7	$ 2,324.5	$ 1,361.8
Subtract:
Net income (loss) attributable to noncontrolling interest									7.2	14.1	45.3
Total									$ 1,546.5	$ 2,310.4	$ 1,316.5
Weighted-average shares outstanding:
Basic									285.8	288.9	289.4
Dilutive effects:
Diluted									288.8	293.1	292.7
Net income (loss) per common share:
Basic	$ 0.84	$ 1.60	$ 1.59	$ 1.37	$ 2.91	$ 2.80	$ 1.07	$ 1.21	$ 5.41	$ 8	$ 4.55
Diluted	$ 0.83	$ 1.59	$ 1.58	$ 1.36	$ 2.87	$ 2.76	$ 1.06	$ 1.19	$ 5.36	$ 7.88	$ 4.50
Nonqualified Stock Options
Dilutive effects:
Stock-based compensation awards									1	2	1.3
Restricted Stock Units
Dilutive effects:
Stock-based compensation awards									1.7	2	1.7
Performance Share Awards
Dilutive effects:
Stock-based compensation awards									0.3	0.2	0.3

Quarterly Results of Operatio_3

Quarterly Results of Operations (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Quarterly Results of Operations (Unaudited)
Total revenues	$ 3,770.6	$ 4,348.1	$ 3,234.9	$ 2,883.6	$ 3,237.7	$ 4,627.8	$ 3,178.3	$ 3,049.4	$ 14,237.2	$ 14,093.2	$ 12,394.1
Total expenses	3,527.7	3,779	2,719.5	2,426.6	2,922.9	3,470	2,812.7	2,635.4	12,452.8	11,841	10,802.4
Net income (loss)	231.7	460	459.5	402.5	842.9	813.2	314.8	353.6	1,553.7	2,324.5	1,361.8
Net income (loss) attributable to PFG	$ 236.5	$ 456.3	$ 456.6	$ 397.1	$ 841.8	$ 810.2	$ 309.5	$ 348.9	$ 1,546.5	$ 2,310.4	$ 1,316.5
Basic earnings per common share (in dollars per share)	$ 0.84	$ 1.60	$ 1.59	$ 1.37	$ 2.91	$ 2.80	$ 1.07	$ 1.21	$ 5.41	$ 8	$ 4.55
Diluted earnings per common share (in dollars per share)	$ 0.83	$ 1.59	$ 1.58	$ 1.36	$ 2.87	$ 2.76	$ 1.06	$ 1.19	$ 5.36	$ 7.88	$ 4.50

Condensed Consolidating Finan_3

Condensed Consolidating Financial Information - Guarantor, Statements of Financial Position (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Assets
Fixed maturities, available-for-sale	$ 60,108.5	$ 59,388.4
Fixed maturities, trading	636.1	566
Equity securities	1,843.7	1,866.6
Mortgage loans	15,336.9	14,150.5
Real estate	1,729.7	1,736.7
Policy loans	801.4	808.3
Investment in unconsolidated entities	868.8	820.6
Other investments	3,441.5	2,765.6
Cash and cash equivalents	2,977.5	2,470.8	$ 2,719.6	$ 2,564.8
Accrued investment income	636.2	610.6
Premiums due and other receivables	1,413.1	1,469.8
Deferred acquisition costs	3,693.5	3,540.7	3,380.2	3,276.1
Property and equipment	767.3	759.5
Goodwill	1,100	1,068.8	1,020.8
Other intangibles	1,315.1	1,314.7
Separate account assets	144,987.9	159,272.7
Other assets	1,378.9	1,330.9
Total assets	243,036.1	253,941.2
Liabilities
Contractholder funds	39,699.7	38,082.5
Future policy benefits and claims	35,664.8	33,019.3
Other policyholder funds	888.4	922.3
Short-term debt	42.9	39.5
Long-term debt	3,259.6	3,178.4
Income taxes currently payable	25.3	16.7
Deferred income taxes	958.4	1,092.5
Separate account liabilities	144,987.9	159,272.7
Other liabilities	5,661.9	5,294.1
Total liabilities	231,188.9	240,918
Redeemable noncontrolling interest	391.2	101.3	97.5	85.7
Stockholders' equity
Common stock	4.8	4.7
Additional paid-in capital	10,060.7	9,925.2
Retained earnings (accumulated deficit)	10,290.2	9,482.9
Accumulated other comprehensive income (loss)	(1,565.1)	165.5
Treasury stock, at cost	(7,400.6)	(6,729)
Total stockholders' equity attributable to Principal Financial Group, Inc.	11,390	12,849.3
Noncontrolling interest	66	72.6
Total stockholders' equity	11,456	12,921.9	10,293.8	9,377.4
Total liabilities and stockholders' equity	243,036.1	253,941.2
Principal Financial Group, Inc. Parent Only
Assets
Fixed maturities, available-for-sale	211.5
Fixed maturities, trading	308.9	351.8
Investment in unconsolidated entities	13,862.4	15,063.2
Other investments	10.7	10.2
Cash and cash equivalents	334.9	842.8	882.6	578.7
Accrued investment income	1.4	1.1
Other assets	375	389.7
Total assets	15,104.8	16,658.8
Liabilities
Long-term debt	3,129.8	3,128.1
Other liabilities	585	681.4
Total liabilities	3,714.8	3,809.5
Stockholders' equity
Common stock	4.8	4.7
Additional paid-in capital	10,060.7	9,925.2
Retained earnings (accumulated deficit)	10,290.2	9,482.9
Accumulated other comprehensive income (loss)	(1,565.1)	165.5
Treasury stock, at cost	(7,400.6)	(6,729)
Total stockholders' equity attributable to Principal Financial Group, Inc.	11,390	12,849.3
Total stockholders' equity	11,390	12,849.3
Total liabilities and stockholders' equity	15,104.8	16,658.8
Principal Life Insurance Company Only
Assets
Fixed maturities, available-for-sale	53,401.7	52,632.1
Fixed maturities, trading	165.5	49.1
Equity securities	84.8	100.1
Mortgage loans	14,478	13,389.6
Real estate	1.9	3
Policy loans	755.9	765.7
Investment in unconsolidated entities	2,324.4	2,658.2
Other investments	5,549.1	4,986
Cash and cash equivalents	1,323.9	426.7	675.1	1,127.9
Accrued investment income	563.2	538.8
Premiums due and other receivables	1,818.1	1,720.1
Deferred acquisition costs	3,680.2	3,331.5
Property and equipment	661.3	653.3
Goodwill	54.3	54.3
Other intangibles	19.7	21.6
Separate account assets	107,343	117,300.8
Other assets	1,135.1	1,177.5
Total assets	193,360.1	199,808.4
Liabilities
Contractholder funds	36,861.7	35,330.2
Future policy benefits and claims	30,690.3	27,794
Other policyholder funds	725.7	794.5
Deferred income taxes	405.3	731.6
Separate account liabilities	107,343	117,300.8
Other liabilities	8,503.2	7,910.9
Total liabilities	184,529.2	189,862
Stockholders' equity
Common stock	2.5	2.5
Additional paid-in capital	6,331.6	6,346
Retained earnings (accumulated deficit)	2,441.2	2,238.1
Accumulated other comprehensive income (loss)	55.6	1,359.8
Total stockholders' equity attributable to Principal Financial Group, Inc.	8,830.9	9,946.4
Total stockholders' equity	8,830.9	9,946.4
Total liabilities and stockholders' equity	193,360.1	199,808.4
Principal Financial Services, Inc. and Other Subsidiaries Combined
Assets
Fixed maturities, available-for-sale	6,857.9	7,120.3
Fixed maturities, trading	161.7	165.1
Equity securities	1,758.9	1,766.5
Mortgage loans	1,615.5	1,449.6
Real estate	1,727.8	1,733.7
Policy loans	45.5	42.6
Investment in unconsolidated entities	6,853.8	7,491.4
Other investments	2,517.6	2,231.9
Cash and cash equivalents	2,014.8	1,526.4	2,082.8	1,253.7
Accrued investment income	77.5	77.7
Premiums due and other receivables	3,781.3	3,362.4
Deferred acquisition costs	13.3	209.2
Property and equipment	106	106.2
Goodwill	1,045.7	1,014.5
Other intangibles	1,295.4	1,293.1
Separate account assets	37,644.9	41,971.9
Other assets	4,418.3	4,346
Total assets	71,935.9	75,908.5
Liabilities
Contractholder funds	3,189.2	3,092.8
Future policy benefits and claims	6,128.6	6,155
Other policyholder funds	165.3	128.6
Short-term debt	42.9	39.5
Long-term debt	851.2	710.4
Income taxes currently payable	80.7	166.2
Deferred income taxes	1,056.4	986.9
Separate account liabilities	37,644.9	41,971.9
Other liabilities	8,586.5	7,533.6
Total liabilities	57,745.7	60,784.9
Redeemable noncontrolling interest	391.2	101.3
Stockholders' equity
Additional paid-in capital	9,461.2	9,053.5
Retained earnings (accumulated deficit)	5,855	5,311.7
Accumulated other comprehensive income (loss)	(1,583.2)	579.4
Total stockholders' equity attributable to Principal Financial Group, Inc.	13,733	14,944.6
Noncontrolling interest	66	77.7
Total stockholders' equity	13,799	15,022.3
Total liabilities and stockholders' equity	71,935.9	75,908.5
Principal Financial Services, Inc. and Other Subsidiaries Combined | Nonqualified benefit plans
Stockholders' equity
Assets held in Rabbi trusts	671.7	643.3
Liabilities held in Rabbi trusts	542.4	524.7
Eliminations, Notes Guarantor
Assets
Fixed maturities, available-for-sale	(362.6)	(364)
Mortgage loans	(756.6)	(688.7)
Investment in unconsolidated entities	(22,171.8)	(24,392.2)
Other investments	(4,635.9)	(4,462.5)
Cash and cash equivalents	(696.1)	(325.1)	$ (920.9)	$ (395.5)
Accrued investment income	(5.9)	(7)
Premiums due and other receivables	(4,186.3)	(3,612.7)
Other assets	(4,549.5)	(4,582.3)
Total assets	(37,364.7)	(38,434.5)
Liabilities
Contractholder funds	(351.2)	(340.5)
Future policy benefits and claims	(1,154.1)	(929.7)
Other policyholder funds	(2.6)	(0.8)
Long-term debt	(721.4)	(660.1)
Income taxes currently payable	(55.4)	(149.5)
Deferred income taxes	(503.3)	(626)
Other liabilities	(12,012.8)	(10,831.8)
Total liabilities	(14,800.8)	(13,538.4)
Stockholders' equity
Common stock	(2.5)	(2.5)
Additional paid-in capital	(15,792.8)	(15,399.5)
Retained earnings (accumulated deficit)	(8,296.2)	(7,549.8)
Accumulated other comprehensive income (loss)	1,527.6	(1,939.2)
Total stockholders' equity attributable to Principal Financial Group, Inc.	(22,563.9)	(24,891)
Noncontrolling interest		(5.1)
Total stockholders' equity	(22,563.9)	(24,896.1)
Total liabilities and stockholders' equity	$ (37,364.7)	$ (38,434.5)

Condensed Consolidating Finan_4

Condensed Consolidating Financial Information - Guarantor, Statements of Operations (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues
Premiums and other considerations									$ 6,409.6	$ 6,217.4	$ 5,299.1
Fees and other revenues									4,273.8	3,892.3	3,627.4
Net investment income (loss)									3,629.2	3,459.3	3,296.5
Net realized capital gains (losses), excluding impairment losses on available-for-sale securities									(46.3)	606	269.5
Net other-than-temporary impairment (losses) recoveries on available-for-sale securities									10.6	(28.7)	(98.8)
Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified to (from) other comprehensive income									(39.7)	(53.1)	0.4
Net impairment (losses) recoveries on available-for-sale securities									(29.1)
Net impairment (losses) recoveries on available-for-sale securities										(81.8)	(98.4)
Net realized capital gains (losses)									(75.4)	524.2	171.1
Total revenues	$ 3,770.6	$ 4,348.1	$ 3,234.9	$ 2,883.6	$ 3,237.7	$ 4,627.8	$ 3,178.3	$ 3,049.4	14,237.2	14,093.2	12,394.1
Expenses
Benefits, claims and settlement expenses									8,192.5	7,822.6	6,913.2
Dividends to policyholders									123.6	124.6	156.6
Operating expenses									4,136.7	3,893.8	3,732.6
Total expenses	3,527.7	3,779	2,719.5	2,426.6	2,922.9	3,470	2,812.7	2,635.4	12,452.8	11,841	10,802.4
Income (loss) before income taxes									1,784.4	2,252.2	1,591.7
Income taxes (benefits)									230.7	(72.3)	229.9
Net income (loss)	231.7	460	459.5	402.5	842.9	813.2	314.8	353.6	1,553.7	2,324.5	1,361.8
Net income (loss) attributable to noncontrolling interest									7.2	14.1	45.3
Net income (loss) attributable to Principal Financial Group, Inc.	236.5	456.3	456.6	397.1	841.8	810.2	309.5	348.9	1,546.5	2,310.4	1,316.5
Net income (loss)	$ 231.7	$ 460	$ 459.5	$ 402.5	$ 842.9	$ 813.2	$ 314.8	$ 353.6	1,553.7	2,324.5	1,361.8
Other comprehensive income (loss)									(1,835.7)	844.3	221
Comprehensive income (loss)									(282)	3,168.8	1,582.8
Principal Financial Group, Inc. Parent Only
Revenues
Fees and other revenues										7.8
Net investment income (loss)									25.8	9.7	3.4
Net realized capital gains (losses), excluding impairment losses on available-for-sale securities									(8.2)	(0.6)
Net realized capital gains (losses)									(8.2)	(0.6)
Total revenues									17.6	16.9	3.4
Expenses
Operating expenses									191.9	238.1	312.3
Total expenses									191.9	238.1	312.3
Income (loss) before income taxes									(174.3)	(221.2)	(308.9)
Income taxes (benefits)									(62.5)	63.1	(134.9)
Equity in the net income (loss) of subsidiaries									1,658.3	2,594.7	1,490.5
Net income (loss)									1,546.5	2,310.4	1,316.5
Net income (loss) attributable to Principal Financial Group, Inc.									1,546.5	2,310.4	1,316.5
Net income (loss)									1,546.5	2,310.4	1,316.5
Other comprehensive income (loss)									(1,824.5)	840.3	218.8
Comprehensive income (loss)									(278)	3,150.7	1,535.3
Principal Life Insurance Company Only
Revenues
Premiums and other considerations									5,846	5,777.7	4,869
Fees and other revenues									2,174.4	2,140.9	1,956.1
Net investment income (loss)									2,655.7	2,533.1	2,300.2
Net realized capital gains (losses), excluding impairment losses on available-for-sale securities									118.8	(84.5)	210.4
Net other-than-temporary impairment (losses) recoveries on available-for-sale securities									14.1	(28.2)	(92.2)
Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified to (from) other comprehensive income									(40.1)	(46.4)	(3)
Net impairment (losses) recoveries on available-for-sale securities									(26)
Net impairment (losses) recoveries on available-for-sale securities										(74.6)	(95.2)
Net realized capital gains (losses)									92.8	(159.1)	115.2
Total revenues									10,768.9	10,292.6	9,240.5
Expenses
Benefits, claims and settlement expenses									7,346.3	7,153.5	6,177.9
Dividends to policyholders									123.6	124.6	156.6
Operating expenses									2,320.1	2,185.4	2,113.9
Total expenses									9,790	9,463.5	8,448.4
Income (loss) before income taxes									978.9	829.1	792.1
Income taxes (benefits)									60	(540.1)	97.9
Equity in the net income (loss) of subsidiaries									334.7	901.5	395.9
Net income (loss)									1,253.6	2,270.7	1,090.1
Net income (loss) attributable to Principal Financial Group, Inc.									1,253.6	2,270.7	1,090.1
Net income (loss)									1,253.6	2,270.7	1,090.1
Other comprehensive income (loss)									(1,548.5)	611.6	116.5
Comprehensive income (loss)									(294.9)	2,882.3	1,206.6
Income (loss) from discontinued operations, net of related income taxes										35.5	132.6
Principal Financial Services, Inc. and Other Subsidiaries Combined
Revenues
Premiums and other considerations									563.6	439.7	430.1
Fees and other revenues									2,487	2,163.4	2,061.1
Net investment income (loss)									2,192.6	3,180.9	2,004.7
Net realized capital gains (losses), excluding impairment losses on available-for-sale securities									(175.1)	691.8	48.1
Net other-than-temporary impairment (losses) recoveries on available-for-sale securities									(3.5)	(0.5)	(6.6)
Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified to (from) other comprehensive income									0.4	(6.7)	3.4
Net impairment (losses) recoveries on available-for-sale securities									(3.1)
Net impairment (losses) recoveries on available-for-sale securities										(7.2)	(3.2)
Net realized capital gains (losses)									(178.2)	684.6	44.9
Total revenues									5,065	6,468.6	4,540.8
Expenses
Benefits, claims and settlement expenses									857.1	679.9	746.3
Operating expenses									1,982.7	1,823.2	1,629.7
Total expenses									2,839.8	2,503.1	2,376
Income (loss) before income taxes									2,225.2	3,965.5	2,164.8
Income taxes (benefits)									235	376.4	270
Equity in the net income (loss) of subsidiaries									(335.3)	(1,005.3)	(366)
Net income (loss)									1,654.9	2,583.8	1,528.8
Net income (loss) attributable to noncontrolling interest									7.2	14.1	45.3
Net income (loss) attributable to Principal Financial Group, Inc.									1,647.7	2,569.7	1,483.5
Net income (loss)									1,654.9	2,583.8	1,528.8
Other comprehensive income (loss)									(1,928.5)	877.6	218.1
Comprehensive income (loss)									(273.6)	3,461.4	1,746.9
Eliminations, Notes Guarantor
Revenues
Fees and other revenues									(387.6)	(419.8)	(389.8)
Net investment income (loss)									(1,244.9)	(2,264.4)	(1,011.8)
Net realized capital gains (losses), excluding impairment losses on available-for-sale securities									18.2	(0.7)	11
Net realized capital gains (losses)									18.2	(0.7)	11
Total revenues									(1,614.3)	(2,684.9)	(1,390.6)
Expenses
Benefits, claims and settlement expenses									(10.9)	(10.8)	(11)
Operating expenses									(358)	(352.9)	(323.3)
Total expenses									(368.9)	(363.7)	(334.3)
Income (loss) before income taxes									(1,245.4)	(2,321.2)	(1,056.3)
Income taxes (benefits)									(1.8)	28.3	(3.1)
Equity in the net income (loss) of subsidiaries									(1,657.7)	(2,490.9)	(1,520.4)
Net income (loss)									(2,901.3)	(4,840.4)	(2,573.6)
Net income (loss) attributable to Principal Financial Group, Inc.									(2,901.3)	(4,840.4)	(2,573.6)
Net income (loss)									(2,901.3)	(4,840.4)	(2,573.6)
Other comprehensive income (loss)									3,465.8	(1,485.2)	(332.4)
Comprehensive income (loss)									$ 564.5	$ (6,325.6)	$ (2,906)

Condensed Consolidating Finan_5

Condensed Consolidating Financial Information - Guarantor, Statements of Cash Flows (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating activities
Net cash provided by (used in) operating activities	$ 5,156.5	$ 4,188	$ 3,857.8
Investing activities
Fixed maturities available-for-sale and equity securities with intent to hold: Purchases	(13,909.8)	(13,371.6)	(13,763.8)
Fixed maturities available-for-sale and equity securities with intent to hold: Sales	3,813.1	1,413.6	1,890.5
Fixed maturities available-for-sale and equity securities with intent to hold: Maturities	6,217.6	8,743.2	7,742.8
Mortgage loans acquired or originated	(3,447.5)	(2,755.8)	(2,889)
Mortgage loans sold or repaid	2,228.4	1,872	2,068.7
Real estate acquired	(88.1)	(200.5)	(109.7)
Real estate sold	63.5	481.9	35.5
Net (purchases) sales of property and equipment	(92.3)	(164.8)	(154.9)
Purchase of interests in subsidiaries, net of cash acquired	(184.7)
Net change in other investments	(302.7)	(70.8)	26
Net cash provided by (used in) investing activities	(5,702.5)	(4,052.8)	(5,153.9)
Financing activities
Issuance of common stock	64	162.5	37.8
Acquisition of treasury stock	(671.6)	(220.4)	(277.3)
Proceeds from financing element derivatives		0.1	0.4
Payments for financing element derivatives	(65.9)	(77.6)	(87.7)
Excess tax benefits from share-based payment arrangements			12
Purchase of subsidiary shares from noncontrolling interest	(31.1)	(13.3)	(2.4)
Dividends to common stockholders	(598.6)	(540)	(464.9)
Issuance of long-term debt	80.8	2.8	656.1
Principal repayments of long-term debt	(1.3)	(56.5)	(799.3)
Net proceeds from (repayments of) short-term borrowings	8.5	(15.5)	(131.4)
Investment contract deposits	8,308.8	10,154.4	10,770.9
Investment contract withdrawals	(6,589.6)	(9,914.6)	(8,392.7)
Net increase (decrease) in banking operation deposits	553	136.6	129
Other	(4.3)	(2.5)	0.4
Net cash provided by (used in) financing activities	1,052.7	(384)	1,450.9
Net increase (decrease) in cash and cash equivalents	506.7	(248.8)	154.8
Cash and cash equivalents at beginning of period	2,470.8	2,719.6	2,564.8
Cash and cash equivalents at end of period	2,977.5	2,470.8	2,719.6
Principal Financial Group, Inc. Parent Only
Operating activities
Net cash provided by (used in) operating activities	(132.4)	(443.2)	(188.6)
Investing activities
Fixed maturities available-for-sale and equity securities with intent to hold: Purchases	(210.9)
Fixed maturities available-for-sale and equity securities with intent to hold: Maturities	2.3
Net (purchases) sales of property and equipment	(0.1)	(0.1)	(0.1)
Dividends and returns of capital received from (contributed to) unconsolidated entities	1,041.6	1,002.5	1,295.3
Net change in other investments	(2.2)	(1.1)	1.3
Net cash provided by (used in) investing activities	830.7	1,001.3	1,296.5
Financing activities
Issuance of common stock	64	162.5	37.8
Acquisition of treasury stock	(671.6)	(220.4)	(277.3)
Excess tax benefits from share-based payment arrangements			0.7
Dividends to common stockholders	(598.6)	(540)	(464.9)
Issuance of long-term debt			644.2
Principal repayments of long-term debt			(744.5)
Net cash provided by (used in) financing activities	(1,206.2)	(597.9)	(804)
Net increase (decrease) in cash and cash equivalents	(507.9)	(39.8)	303.9
Cash and cash equivalents at beginning of period	842.8	882.6	578.7
Cash and cash equivalents at end of period	334.9	842.8	882.6
Principal Life Insurance Company Only
Operating activities
Net cash provided by (used in) operating activities	5,410.9	5,571.5	3,657.5
Investing activities
Fixed maturities available-for-sale and equity securities with intent to hold: Purchases	(11,457.5)	(12,054.5)	(12,771.1)
Fixed maturities available-for-sale and equity securities with intent to hold: Sales	2,557.9	1,005.3	1,312.7
Fixed maturities available-for-sale and equity securities with intent to hold: Maturities	5,660.9	7,894.7	7,097.4
Mortgage loans acquired or originated	(3,060)	(2,629.8)	(2,615.7)
Mortgage loans sold or repaid	1,967.4	1,696.2	1,843.6
Real estate sold			3.5
Net (purchases) sales of property and equipment	(50.5)	(108.1)	(113.2)
Dividends and returns of capital received from (contributed to) unconsolidated entities	50.1	149.7	3.1
Net change in other investments	(626.1)	281.9	314.2
Net cash provided by (used in) investing activities	(4,957.8)	(3,764.6)	(4,925.5)
Financing activities
Proceeds from financing element derivatives		0.1	0.4
Payments for financing element derivatives	(65.9)	(77.6)	(87.7)
Excess tax benefits from share-based payment arrangements			4.7
Capital received from (dividends and capital paid to) parent	(861.6)	(1,845.9)	(1,195)
Investment contract deposits	7,896	9,760.5	10,465.8
Investment contract withdrawals	(6,520.1)	(9,889.9)	(8,373.3)
Other	(4.3)	(2.5)	0.3
Net cash provided by (used in) financing activities	444.1	(2,055.3)	815.2
Net increase (decrease) in cash and cash equivalents	897.2	(248.4)	(452.8)
Cash and cash equivalents at beginning of period	426.7	675.1	1,127.9
Cash and cash equivalents at end of period	1,323.9	426.7	675.1
Principal Financial Services, Inc. and Other Subsidiaries Combined
Operating activities
Net cash provided by (used in) operating activities	473.1	(2,114.7)	1,601.1
Investing activities
Fixed maturities available-for-sale and equity securities with intent to hold: Purchases	(2,249.2)	(1,317.1)	(1,005.8)
Fixed maturities available-for-sale and equity securities with intent to hold: Sales	1,255.2	425.1	577.8
Fixed maturities available-for-sale and equity securities with intent to hold: Maturities	554.4	848.5	645.4
Mortgage loans acquired or originated	(497)	(448.1)	(333.5)
Mortgage loans sold or repaid	297.8	388.4	274.7
Real estate acquired	(88.1)	(200.5)	(109.7)
Real estate sold	63.5	481.9	32
Net (purchases) sales of property and equipment	(41.7)	(56.6)	(41.6)
Purchase of interests in subsidiaries, net of cash acquired	(184.7)
Dividends and returns of capital received from (contributed to) unconsolidated entities	861.6	1,845.9	1,195
Net change in other investments	120.7	155.4	(954.8)
Net cash provided by (used in) investing activities	92.5	2,122.9	279.5
Financing activities
Excess tax benefits from share-based payment arrangements			6.6
Purchase of subsidiary shares from noncontrolling interest	(31.1)	(16.2)	(4.3)
Sale of subsidiary shares to noncontrolling interest		2.9	1.9
Issuance of long-term debt	178.9	380.5	6.8
Principal repayments of long-term debt	(38.1)	(269.9)	(47.5)
Net proceeds from (repayments of) short-term borrowings	8.5	(15.5)	(131.4)
Capital received from (dividends and capital paid to) parent	(1,091.7)	(1,152.2)	(1,298.4)
Investment contract deposits	412.8	393.9	305.1
Investment contract withdrawals	(69.5)	(24.7)	(19.4)
Net increase (decrease) in banking operation deposits	553	136.6	129
Other			0.1
Net cash provided by (used in) financing activities	(77.2)	(564.6)	(1,051.5)
Net increase (decrease) in cash and cash equivalents	488.4	(556.4)	829.1
Cash and cash equivalents at beginning of period	1,526.4	2,082.8	1,253.7
Cash and cash equivalents at end of period	2,014.8	1,526.4	2,082.8
Eliminations, Notes Guarantor
Operating activities
Net cash provided by (used in) operating activities	(595.1)	1,174.4	(1,212.2)
Investing activities
Fixed maturities available-for-sale and equity securities with intent to hold: Purchases	7.8		13.1
Fixed maturities available-for-sale and equity securities with intent to hold: Sales		(16.8)
Mortgage loans acquired or originated	109.5	322.1	60.2
Mortgage loans sold or repaid	(36.8)	(212.6)	(49.6)
Dividends and returns of capital received from (contributed to) unconsolidated entities	(1,953.3)	(2,998.1)	(2,493.4)
Net change in other investments	204.9	(507)	665.3
Net cash provided by (used in) investing activities	(1,667.9)	(3,412.4)	(1,804.4)
Financing activities
Purchase of subsidiary shares from noncontrolling interest		2.9	1.9
Sale of subsidiary shares to noncontrolling interest		(2.9)	(1.9)
Issuance of long-term debt	(98.1)	(377.7)	5.1
Principal repayments of long-term debt	36.8	213.4	(7.3)
Capital received from (dividends and capital paid to) parent	1,953.3	2,998.1	2,493.4
Net cash provided by (used in) financing activities	1,892	2,833.8	2,491.2
Net increase (decrease) in cash and cash equivalents	(371)	595.8	(525.4)
Cash and cash equivalents at beginning of period	(325.1)	(920.9)	(395.5)
Cash and cash equivalents at end of period	$ (696.1)	$ (325.1)	$ (920.9)

Condensed Consolidating Finan_6

Condensed Consolidating Financial Information - Shelf Registration Guarantor, Statements of Financial Position (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Assets
Fixed maturities, available-for-sale	$ 60,108.5	$ 59,388.4
Fixed maturities, trading	636.1	566
Equity securities	1,843.7	1,866.6
Mortgage loans	15,336.9	14,150.5
Real estate	1,729.7	1,736.7
Policy loans	801.4	808.3
Investment in unconsolidated entities	868.8	820.6
Other investments	3,441.5	2,765.6
Cash and cash equivalents	2,977.5	2,470.8	$ 2,719.6	$ 2,564.8
Accrued investment income	636.2	610.6
Premiums due and other receivables	1,413.1	1,469.8
Deferred acquisition costs	3,693.5	3,540.7	3,380.2	3,276.1
Property and equipment	767.3	759.5
Goodwill	1,100	1,068.8	1,020.8
Other intangibles	1,315.1	1,314.7
Separate account assets	144,987.9	159,272.7
Other assets	1,378.9	1,330.9
Total assets	243,036.1	253,941.2
Liabilities
Contractholder funds	39,699.7	38,082.5
Future policy benefits and claims	35,664.8	33,019.3
Other policyholder funds	888.4	922.3
Short-term debt	42.9	39.5
Long-term debt	3,259.6	3,178.4
Income taxes currently payable	25.3	16.7
Deferred income taxes	958.4	1,092.5
Separate account liabilities	144,987.9	159,272.7
Other liabilities	5,661.9	5,294.1
Total liabilities	231,188.9	240,918
Redeemable noncontrolling interest	391.2	101.3	97.5	85.7
Stockholders' equity
Common stock	4.8	4.7
Additional paid-in capital	10,060.7	9,925.2
Retained earnings (accumulated deficit)	10,290.2	9,482.9
Accumulated other comprehensive income (loss)	(1,565.1)	165.5
Treasury stock, at cost	(7,400.6)	(6,729)
Total stockholders' equity attributable to Principal Financial Group, Inc.	11,390	12,849.3
Noncontrolling interest	66	72.6
Total stockholders' equity	11,456	12,921.9	10,293.8	9,377.4
Total liabilities and stockholders' equity	243,036.1	253,941.2
Principal Financial Group, Inc. Parent Only
Assets
Fixed maturities, available-for-sale	211.5
Fixed maturities, trading	308.9	351.8
Investment in unconsolidated entities	13,862.4	15,063.2
Other investments	10.7	10.2
Cash and cash equivalents	334.9	842.8	882.6	578.7
Accrued investment income	1.4	1.1
Other assets	375	389.7
Total assets	15,104.8	16,658.8
Liabilities
Long-term debt	3,129.8	3,128.1
Other liabilities	585	681.4
Total liabilities	3,714.8	3,809.5
Stockholders' equity
Common stock	4.8	4.7
Additional paid-in capital	10,060.7	9,925.2
Retained earnings (accumulated deficit)	10,290.2	9,482.9
Accumulated other comprehensive income (loss)	(1,565.1)	165.5
Treasury stock, at cost	(7,400.6)	(6,729)
Total stockholders' equity attributable to Principal Financial Group, Inc.	11,390	12,849.3
Total stockholders' equity	11,390	12,849.3
Total liabilities and stockholders' equity	15,104.8	16,658.8
Principal Financial Services, Inc. Only
Assets
Equity securities	11.9	5.7
Investment in unconsolidated entities	14,325.5	15,449.7
Other investments	100.9	131.3
Cash and cash equivalents	649	617.4	1,203.4	730.5
Accrued investment income	0.3	0.2
Premiums due and other receivables	0.5	2
Other assets	38.7	94.8
Total assets	15,126.8	16,301.1
Liabilities
Long-term debt	366.7	412.7
Income taxes currently payable	9.8	37.3
Deferred income taxes	13.9	12.4
Other liabilities	1,002.9	894.1
Total liabilities	1,393.3	1,356.5
Stockholders' equity
Additional paid-in capital	9,100	9,053.5
Retained earnings (accumulated deficit)	5,716.8	5,311.7
Accumulated other comprehensive income (loss)	(1,083.3)	579.4
Total stockholders' equity attributable to Principal Financial Group, Inc.	13,733.5	14,944.6
Total stockholders' equity	13,733.5	14,944.6
Total liabilities and stockholders' equity	15,126.8	16,301.1
Principal Life Insurance Company and Other Subsidiaries Combined
Assets
Fixed maturities, available-for-sale	59,897	59,388.4
Fixed maturities, trading	327.2	214.2
Equity securities	1,831.8	1,860.9
Mortgage loans	15,336.9	14,150.5
Real estate	1,729.7	1,736.7
Policy loans	801.4	808.3
Investment in unconsolidated entities	726	706.7
Other investments	3,329.9	2,624.1
Cash and cash equivalents	3,096.8	2,001.1	2,114.8	2,413.3
Accrued investment income	634.5	609.3
Premiums due and other receivables	1,779.6	1,880.3
Deferred acquisition costs	3,693.5	3,540.7
Property and equipment	767.3	759.5
Goodwill	1,100	1,068.8
Other intangibles	1,315.1	1,314.7
Separate account assets	144,987.9	159,272.7
Other assets	1,521.9	1,619.4
Total assets	242,876.5	253,556.3
Liabilities
Contractholder funds	39,699.7	38,082.5
Future policy benefits and claims	35,664.8	33,019.3
Other policyholder funds	888.4	922.3
Short-term debt	42.9	39.5
Long-term debt	129.9	50.3
Income taxes currently payable	61.5	105.9
Deferred income taxes	1,446.4	1,705.1
Separate account liabilities	144,987.9	159,272.7
Other liabilities	4,838.1	4,760.7
Total liabilities	227,759.6	237,958.3
Redeemable noncontrolling interest	391.2	101.3
Stockholders' equity
Common stock	11	11
Additional paid-in capital	12,004.5	11,336
Retained earnings (accumulated deficit)	3,549.8	3,394.1
Accumulated other comprehensive income (loss)	(903.6)	685
Treasury stock, at cost	(2)	(2)
Total stockholders' equity attributable to Principal Financial Group, Inc.	14,659.7	15,424.1
Noncontrolling interest	66	72.6
Total stockholders' equity	14,725.7	15,496.7
Total liabilities and stockholders' equity	242,876.5	253,556.3
Principal Life Insurance Company and Other Subsidiaries Combined | Nonqualified benefit plans
Stockholders' equity
Assets held in Rabbi trusts	671.7	643.3
Liabilities held in Rabbi trusts	542.4	524.7
Eliminations, Shelf Registration Debt Guarantor
Assets
Investment in unconsolidated entities	(28,045.1)	(30,399)
Cash and cash equivalents	(1,103.2)	(990.5)	$ (1,481.2)	$ (1,157.7)
Premiums due and other receivables	(367)	(412.5)
Other assets	(556.7)	(773)
Total assets	(30,072)	(32,575)
Liabilities
Long-term debt	(366.8)	(412.7)
Income taxes currently payable	(46)	(126.5)
Deferred income taxes	(501.9)	(625)
Other liabilities	(764.1)	(1,042.1)
Total liabilities	(1,678.8)	(2,206.3)
Stockholders' equity
Common stock	(11)	(11)
Additional paid-in capital	(21,104.5)	(20,389.5)
Retained earnings (accumulated deficit)	(9,266.6)	(8,705.8)
Accumulated other comprehensive income (loss)	1,986.9	(1,264.4)
Treasury stock, at cost	2	2
Total stockholders' equity attributable to Principal Financial Group, Inc.	(28,393.2)	(30,368.7)
Total stockholders' equity	(28,393.2)	(30,368.7)
Total liabilities and stockholders' equity	$ (30,072)	$ (32,575)

Condensed Consolidating Finan_7

Condensed Consolidating Financial Information - Shelf Registration Guarantor, Statements of Operations (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues
Premiums and other considerations									$ 6,409.6	$ 6,217.4	$ 5,299.1
Fees and other revenues									4,273.8	3,892.3	3,627.4
Net investment income (loss)									3,629.2	3,459.3	3,296.5
Net realized capital gains (losses), excluding impairment losses on available-for-sale securities									(46.3)	606	269.5
Net other-than-temporary impairment (losses) recoveries on available-for-sale securities									10.6	(28.7)	(98.8)
Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified to (from) other comprehensive income									(39.7)	(53.1)	0.4
Net impairment (losses) recoveries on available-for-sale securities									(29.1)
Net impairment (losses) recoveries on available-for-sale securities										(81.8)	(98.4)
Net realized capital gains (losses)									(75.4)	524.2	171.1
Total revenues	$ 3,770.6	$ 4,348.1	$ 3,234.9	$ 2,883.6	$ 3,237.7	$ 4,627.8	$ 3,178.3	$ 3,049.4	14,237.2	14,093.2	12,394.1
Expenses
Benefits, claims and settlement expenses									8,192.5	7,822.6	6,913.2
Dividends to policyholders									123.6	124.6	156.6
Operating expenses									4,136.7	3,893.8	3,732.6
Total expenses	3,527.7	3,779	2,719.5	2,426.6	2,922.9	3,470	2,812.7	2,635.4	12,452.8	11,841	10,802.4
Income (loss) before income taxes									1,784.4	2,252.2	1,591.7
Income taxes (benefits)									230.7	(72.3)	229.9
Net income (loss)	231.7	460	459.5	402.5	842.9	813.2	314.8	353.6	1,553.7	2,324.5	1,361.8
Net income (loss) attributable to noncontrolling interest									7.2	14.1	45.3
Net income (loss) attributable to Principal Financial Group, Inc.	236.5	456.3	456.6	397.1	841.8	810.2	309.5	348.9	1,546.5	2,310.4	1,316.5
Net income (loss)	$ 231.7	$ 460	$ 459.5	$ 402.5	$ 842.9	$ 813.2	$ 314.8	$ 353.6	1,553.7	2,324.5	1,361.8
Other comprehensive income (loss)									(1,835.7)	844.3	221
Comprehensive income (loss)									(282)	3,168.8	1,582.8
Principal Financial Group, Inc. Parent Only
Revenues
Fees and other revenues										7.8
Net investment income (loss)									25.8	9.7	3.4
Net realized capital gains (losses), excluding impairment losses on available-for-sale securities									(8.2)	(0.6)
Net realized capital gains (losses)									(8.2)	(0.6)
Total revenues									17.6	16.9	3.4
Expenses
Operating expenses									191.9	238.1	312.3
Total expenses									191.9	238.1	312.3
Income (loss) before income taxes									(174.3)	(221.2)	(308.9)
Income taxes (benefits)									(62.5)	63.1	(134.9)
Equity in the net income (loss) of subsidiaries									1,658.3	2,594.7	1,490.5
Net income (loss)									1,546.5	2,310.4	1,316.5
Net income (loss) attributable to Principal Financial Group, Inc.									1,546.5	2,310.4	1,316.5
Net income (loss)									1,546.5	2,310.4	1,316.5
Other comprehensive income (loss)									(1,824.5)	840.3	218.8
Comprehensive income (loss)									(278)	3,150.7	1,535.3
Principal Financial Services, Inc. Only
Revenues
Fees and other revenues									2.7	0.2	0.9
Net investment income (loss)									(6.7)	(2.8)	25.2
Net realized capital gains (losses), excluding impairment losses on available-for-sale securities									(3.5)	4.2	(4.5)
Net realized capital gains (losses)									(3.5)	4.2	(4.5)
Total revenues									(7.5)	1.6	21.6
Expenses
Operating expenses									29.1	48.4	9.7
Total expenses									29.1	48.4	9.7
Income (loss) before income taxes									(36.6)	(46.8)	11.9
Income taxes (benefits)									0.2	115.4	(24.3)
Equity in the net income (loss) of subsidiaries									1,684.5	2,731.9	1,447.3
Net income (loss)									1,647.7	2,569.7	1,483.5
Net income (loss) attributable to Principal Financial Group, Inc.									1,647.7	2,569.7	1,483.5
Net income (loss)									1,647.7	2,569.7	1,483.5
Other comprehensive income (loss)									(1,839.1)	809.8	174.3
Comprehensive income (loss)									(191.4)	3,379.5	1,657.8
Principal Life Insurance Company and Other Subsidiaries Combined
Revenues
Premiums and other considerations									6,409.6	6,217.4	5,299.1
Fees and other revenues									4,286.4	3,894.7	3,634
Net investment income (loss)									3,598	3,396.5	3,260.4
Net realized capital gains (losses), excluding impairment losses on available-for-sale securities									(34.6)	602.4	273.9
Net other-than-temporary impairment (losses) recoveries on available-for-sale securities									10.6	(28.7)	(98.8)
Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified to (from) other comprehensive income									(39.7)	(53.1)	0.4
Net impairment (losses) recoveries on available-for-sale securities									(29.1)
Net impairment (losses) recoveries on available-for-sale securities										(81.8)	(98.4)
Net realized capital gains (losses)									(63.7)	520.6	175.5
Total revenues									14,230.3	14,029.2	12,369
Expenses
Benefits, claims and settlement expenses									8,192.5	7,822.6	6,913.2
Dividends to policyholders									123.6	124.6	156.6
Operating expenses									3,929.5	3,616.9	3,417.5
Total expenses									12,245.6	11,564.1	10,487.3
Income (loss) before income taxes									1,984.7	2,465.1	1,881.7
Income taxes (benefits)									293	(280.9)	389.1
Net income (loss)									1,691.7	2,746	1,492.6
Net income (loss) attributable to noncontrolling interest									7.2	14.1	45.3
Net income (loss) attributable to Principal Financial Group, Inc.									1,684.5	2,731.9	1,447.3
Net income (loss)									1,691.7	2,746	1,492.6
Other comprehensive income (loss)									(1,856.4)	801.8	191.7
Comprehensive income (loss)									(164.7)	3,547.8	1,684.3
Eliminations, Shelf Registration Debt Guarantor
Revenues
Fees and other revenues									(15.3)	(10.4)	(7.5)
Net investment income (loss)									12.1	55.9	7.5
Net realized capital gains (losses), excluding impairment losses on available-for-sale securities											0.1
Net realized capital gains (losses)											0.1
Total revenues									(3.2)	45.5	0.1
Expenses
Operating expenses									(13.8)	(9.6)	(6.9)
Total expenses									(13.8)	(9.6)	(6.9)
Income (loss) before income taxes									10.6	55.1	7
Income taxes (benefits)										30.1
Equity in the net income (loss) of subsidiaries									(3,342.8)	(5,326.6)	(2,937.8)
Net income (loss)									(3,332.2)	(5,301.6)	(2,930.8)
Net income (loss) attributable to Principal Financial Group, Inc.									(3,332.2)	(5,301.6)	(2,930.8)
Net income (loss)									(3,332.2)	(5,301.6)	(2,930.8)
Other comprehensive income (loss)									3,684.3	(1,607.6)	(363.8)
Comprehensive income (loss)									$ 352.1	$ (6,909.2)	$ (3,294.6)

Condensed Consolidating Finan_8

Condensed Consolidating Financial Information - Shelf Registration Guarantor, Statements of Cash Flows (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating activities
Net cash provided by (used in) operating activities	$ 5,156.5	$ 4,188	$ 3,857.8
Investing activities
Fixed maturities available-for-sale and equity securities with intent to hold: Purchases	(13,909.8)	(13,371.6)	(13,763.8)
Fixed maturities available-for-sale and equity securities with intent to hold: Sales	3,813.1	1,413.6	1,890.5
Fixed maturities available-for-sale and equity securities with intent to hold: Maturities	6,217.6	8,743.2	7,742.8
Mortgage loans acquired or originated	(3,447.5)	(2,755.8)	(2,889)
Mortgage loans sold or repaid	2,228.4	1,872	2,068.7
Real estate acquired	(88.1)	(200.5)	(109.7)
Real estate sold	63.5	481.9	35.5
Net (purchases) sales of property and equipment	(92.3)	(164.8)	(154.9)
Purchase of interests in subsidiaries, net of cash acquired	(184.7)
Net change in other investments	(302.7)	(70.8)	26
Net cash provided by (used in) investing activities	(5,702.5)	(4,052.8)	(5,153.9)
Financing activities
Issuance of common stock	64	162.5	37.8
Acquisition of treasury stock	(671.6)	(220.4)	(277.3)
Proceeds from financing element derivatives		0.1	0.4
Payments for financing element derivatives	(65.9)	(77.6)	(87.7)
Excess tax benefits from share-based payment arrangements			12
Dividends to common stockholders	(598.6)	(540)	(464.9)
Purchase of subsidiary shares from noncontrolling interest	(31.1)	(13.3)	(2.4)
Issuance of long-term debt	80.8	2.8	656.1
Principal repayments of long-term debt	(1.3)	(56.5)	(799.3)
Net proceeds from (repayments of) short-term borrowings	8.5	(15.5)	(131.4)
Investment contract deposits	8,308.8	10,154.4	10,770.9
Investment contract withdrawals	(6,589.6)	(9,914.6)	(8,392.7)
Net increase (decrease) in banking operation deposits	553	136.6	129
Other	(4.3)	(2.5)	0.4
Net cash provided by (used in) financing activities	1,052.7	(384)	1,450.9
Net increase (decrease) in cash and cash equivalents	506.7	(248.8)	154.8
Cash and cash equivalents at beginning of period	2,470.8	2,719.6	2,564.8
Cash and cash equivalents at end of period	2,977.5	2,470.8	2,719.6
Principal Financial Group, Inc. Parent Only
Operating activities
Net cash provided by (used in) operating activities	(132.4)	(443.2)	(188.6)
Investing activities
Fixed maturities available-for-sale and equity securities with intent to hold: Purchases	(210.9)
Fixed maturities available-for-sale and equity securities with intent to hold: Maturities	2.3
Net (purchases) sales of property and equipment	(0.1)	(0.1)	(0.1)
Dividends and returns of capital received from (contributed to) unconsolidated entities	1,041.6	1,002.5	1,295.3
Net change in other investments	(2.2)	(1.1)	1.3
Net cash provided by (used in) investing activities	830.7	1,001.3	1,296.5
Financing activities
Issuance of common stock	64	162.5	37.8
Acquisition of treasury stock	(671.6)	(220.4)	(277.3)
Excess tax benefits from share-based payment arrangements			0.7
Dividends to common stockholders	(598.6)	(540)	(464.9)
Issuance of long-term debt			644.2
Principal repayments of long-term debt			(744.5)
Net cash provided by (used in) financing activities	(1,206.2)	(597.9)	(804)
Net increase (decrease) in cash and cash equivalents	(507.9)	(39.8)	303.9
Cash and cash equivalents at beginning of period	842.8	882.6	578.7
Cash and cash equivalents at end of period	334.9	842.8	882.6
Principal Financial Services, Inc. Only
Operating activities
Net cash provided by (used in) operating activities	696.3	(252.8)	255.7
Investing activities
Dividends and returns of capital received from (contributed to) unconsolidated entities	589.1	691.2	1,583.3
Net change in other investments	(166.2)	7.5	(56.8)
Net cash provided by (used in) investing activities	422.9	698.7	1,526.5
Financing activities
Issuance of long-term debt	11.1	9.4	6
Principal repayments of long-term debt	(57.1)	(38.8)	(20)
Capital received from (dividends and capital paid to) parent	(1,041.6)	(1,002.5)	(1,295.3)
Net cash provided by (used in) financing activities	(1,087.6)	(1,031.9)	(1,309.3)
Net increase (decrease) in cash and cash equivalents	31.6	(586)	472.9
Cash and cash equivalents at beginning of period	617.4	1,203.4	730.5
Cash and cash equivalents at end of period	649	617.4	1,203.4
Principal Life Insurance Company and Other Subsidiaries Combined
Operating activities
Net cash provided by (used in) operating activities	5,030.9	4,483.6	3,983.8
Investing activities
Fixed maturities available-for-sale and equity securities with intent to hold: Purchases	(13,698.9)	(13,371.6)	(13,763.8)
Fixed maturities available-for-sale and equity securities with intent to hold: Sales	3,813.1	1,413.6	1,890.5
Fixed maturities available-for-sale and equity securities with intent to hold: Maturities	6,215.3	8,743.2	7,742.8
Mortgage loans acquired or originated	(3,447.5)	(2,755.8)	(2,889)
Mortgage loans sold or repaid	2,228.4	1,872	2,068.7
Real estate acquired	(88.1)	(200.5)	(109.7)
Real estate sold	63.5	481.9	35.5
Net (purchases) sales of property and equipment	(92.2)	(164.7)	(154.8)
Purchase of interests in subsidiaries, net of cash acquired	(184.7)
Net change in other investments	(413.9)	(61.6)	258.2
Net cash provided by (used in) investing activities	(5,605)	(4,043.5)	(4,921.6)
Financing activities
Proceeds from financing element derivatives		0.1	0.4
Payments for financing element derivatives	(65.9)	(77.6)	(87.7)
Excess tax benefits from share-based payment arrangements			11.3
Purchase of subsidiary shares from noncontrolling interest	(31.1)	(13.3)	(2.4)
Issuance of long-term debt	80.8	2.8	11.9
Principal repayments of long-term debt	(1.3)	(56.5)	(54.8)
Net proceeds from (repayments of) short-term borrowings	8.5	(92)	(163.7)
Capital received from (dividends and capital paid to) parent	(589.1)	(691.2)	(1,583.3)
Investment contract deposits	8,308.8	10,154.4	10,770.9
Investment contract withdrawals	(6,589.6)	(9,914.6)	(8,392.7)
Net increase (decrease) in banking operation deposits	553	136.6	129
Other	(4.3)	(2.5)	0.4
Net cash provided by (used in) financing activities	1,669.8	(553.8)	639.3
Net increase (decrease) in cash and cash equivalents	1,095.7	(113.7)	(298.5)
Cash and cash equivalents at beginning of period	2,001.1	2,114.8	2,413.3
Cash and cash equivalents at end of period	3,096.8	2,001.1	2,114.8
Eliminations, Shelf Registration Debt Guarantor
Operating activities
Net cash provided by (used in) operating activities	(438.3)	400.4	(193.1)
Investing activities
Dividends and returns of capital received from (contributed to) unconsolidated entities	(1,630.7)	(1,693.7)	(2,878.6)
Net change in other investments	279.6	(15.6)	(176.7)
Net cash provided by (used in) investing activities	(1,351.1)	(1,709.3)	(3,055.3)
Financing activities
Issuance of long-term debt	(11.1)	(9.4)	(6)
Principal repayments of long-term debt	57.1	38.8	20
Net proceeds from (repayments of) short-term borrowings		76.5	32.3
Capital received from (dividends and capital paid to) parent	1,630.7	1,693.7	2,878.6
Net cash provided by (used in) financing activities	1,676.7	1,799.6	2,924.9
Net increase (decrease) in cash and cash equivalents	(112.7)	490.7	(323.5)
Cash and cash equivalents at beginning of period	(990.5)	(1,481.2)	(1,157.7)
Cash and cash equivalents at end of period	$ (1,103.2)	$ (990.5)	$ (1,481.2)

Schedule I - Summary of Inves_2

Schedule I - Summary of Investments - Other Than Investments in Related Parties (Details) $ in Millions	Dec. 31, 2018USD ($)
Summary of Investments - Other Than Investments in Related Parties
Cost	$ 84,383.9
Amount as shown in the Consolidated Statement of Financial Position	84,766.6
Fixed maturities | Available-for-sale
Summary of Investments - Other Than Investments in Related Parties
Cost	59,725.8
Value	60,108.5
Amount as shown in the Consolidated Statement of Financial Position	60,108.5
Fixed maturities | Trading
Summary of Investments - Other Than Investments in Related Parties
Cost	636.1
Value	636.1
Amount as shown in the Consolidated Statement of Financial Position	636.1
U.S. government and agencies | Available-for-sale
Summary of Investments - Other Than Investments in Related Parties
Cost	1,441.6
Value	1,441
Amount as shown in the Consolidated Statement of Financial Position	1,441
States and political subdivisions | Available-for-sale
Summary of Investments - Other Than Investments in Related Parties
Cost	6,125
Value	6,225.7
Amount as shown in the Consolidated Statement of Financial Position	6,225.7
Non-U.S. governments | Available-for-sale
Summary of Investments - Other Than Investments in Related Parties
Cost	833.4
Value	890.5
Amount as shown in the Consolidated Statement of Financial Position	890.5
Public utilities | Available-for-sale
Summary of Investments - Other Than Investments in Related Parties
Cost	4,545
Value	3,848.1
Amount as shown in the Consolidated Statement of Financial Position	3,848.1
Redeemable preferred stock | Available-for-sale
Summary of Investments - Other Than Investments in Related Parties
Cost	33.8
Value	34.7
Amount as shown in the Consolidated Statement of Financial Position	34.7
All other corporate bonds | Available-for-sale
Summary of Investments - Other Than Investments in Related Parties
Cost	30,555.8
Value	31,656.5
Amount as shown in the Consolidated Statement of Financial Position	31,656.5
Residential mortgage-backed pass-through securities | Available-for-sale
Summary of Investments - Other Than Investments in Related Parties
Cost	2,488.5
Value	2,460.6
Amount as shown in the Consolidated Statement of Financial Position	2,460.6
Commercial mortgage-backed securities | Available-for-sale
Summary of Investments - Other Than Investments in Related Parties
Cost	4,023.1
Value	3,945.6
Amount as shown in the Consolidated Statement of Financial Position	3,945.6
Collateralized debt obligations | Available-for-sale
Summary of Investments - Other Than Investments in Related Parties
Cost	2,451.3
Value	2,420.8
Amount as shown in the Consolidated Statement of Financial Position	2,420.8
Other debt obligations | Available-for-sale
Summary of Investments - Other Than Investments in Related Parties
Cost	7,228.3
Value	7,185
Amount as shown in the Consolidated Statement of Financial Position	7,185
Equity securities
Summary of Investments - Other Than Investments in Related Parties
Cost	1,843.7
Value	1,843.7
Amount as shown in the Consolidated Statement of Financial Position	1,843.7
Common stocks: Banks, trust and insurance companies
Summary of Investments - Other Than Investments in Related Parties
Cost	520.1
Value	520.1
Amount as shown in the Consolidated Statement of Financial Position	520.1
Common stocks: Industrial, miscellaneous and all other
Summary of Investments - Other Than Investments in Related Parties
Cost	713.6
Value	713.6
Amount as shown in the Consolidated Statement of Financial Position	713.6
Other corporate
Summary of Investments - Other Than Investments in Related Parties
Cost	463
Value	463
Amount as shown in the Consolidated Statement of Financial Position	463
Non-redeemable preferred stock
Summary of Investments - Other Than Investments in Related Parties
Cost	147
Value	147
Amount as shown in the Consolidated Statement of Financial Position	147
Mortgage loans
Summary of Investments - Other Than Investments in Related Parties
Cost	15,336.9
Amount as shown in the Consolidated Statement of Financial Position	15,336.9
Real estate acquired in satisfaction of debt
Summary of Investments - Other Than Investments in Related Parties
Cost	5.8
Amount as shown in the Consolidated Statement of Financial Position	5.8
Other real estate
Summary of Investments - Other Than Investments in Related Parties
Cost	1,723.9
Amount as shown in the Consolidated Statement of Financial Position	1,723.9
Policy loans
Summary of Investments - Other Than Investments in Related Parties
Cost	801.4
Amount as shown in the Consolidated Statement of Financial Position	801.4
Investments: Other investments
Summary of Investments - Other Than Investments in Related Parties
Cost	4,310.3
Amount as shown in the Consolidated Statement of Financial Position	$ 4,310.3

Schedule II - Condensed Finan_2

Schedule II - Condensed Financial Information of Registrant (Parent Only) - Statements of Financial Position (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Assets
Fixed maturities, available-for-sale	$ 60,108.5	$ 59,388.4
Fixed maturities, trading	636.1	566
Cash and cash equivalents	2,977.5	2,470.8	$ 2,719.6	$ 2,564.8
Other investments	4,310.3	3,586.2
Deferred income tax assets	141.3	48.4
Investment in unconsolidated entities	868.8	820.6
Total assets	243,036.1	253,941.2
Liabilities
Long-term debt	3,259.6	3,178.4
Total liabilities	231,188.9	240,918
Stockholders' equity
Common stock, par value $.01 per share - 2,500.0 million shares authorized, 476.7 million and 474.1 million shares issued, and 279.5 million and 289.0 million shares outstanding in 2018 and 2017	4.8	4.7
Additional paid-in capital	10,060.7	9,925.2
Retained earnings (accumulated deficit)	10,290.2	9,482.9
Accumulated other comprehensive income (loss)	(1,565.1)	165.5
Treasury stock, at cost (197.2 million and 185.1 million shares in 2018 and 2017)	(7,400.6)	(6,729)
Total stockholders' equity attributable to Principal Financial Group, Inc.	11,390	12,849.3
Total liabilities and stockholders' equity	243,036.1	253,941.2
Principal Financial Group, Inc. Parent Only
Assets
Fixed maturities, available-for-sale	211.5
Fixed maturities, trading	308.9	351.8
Cash and cash equivalents	334.9	842.8	$ 882.6	$ 578.7
Other investments	10.7	10.2
Income taxes receivable	16.9	44.2
Deferred income tax assets	331	329.4
Amounts receivable from subsidiaries	5.2	4.4
Other assets	23.3	12.8
Investment in unconsolidated entities	13,862.4	15,063.2
Total assets	15,104.8	16,658.8
Liabilities
Long-term debt	3,129.8	3,128.1
Accrued investment payable	23.1	23.1
Pension liability	557.9	658.3
Other liabilities	4
Total liabilities	3,714.8	3,809.5
Stockholders' equity
Common stock, par value $.01 per share - 2,500.0 million shares authorized, 476.7 million and 474.1 million shares issued, and 279.5 million and 289.0 million shares outstanding in 2018 and 2017	4.8	4.7
Additional paid-in capital	10,060.7	9,925.2
Retained earnings (accumulated deficit)	10,290.2	9,482.9
Accumulated other comprehensive income (loss)	(1,565.1)	165.5
Treasury stock, at cost (197.2 million and 185.1 million shares in 2018 and 2017)	(7,400.6)	(6,729)
Total stockholders' equity attributable to Principal Financial Group, Inc.	11,390	12,849.3
Total liabilities and stockholders' equity	$ 15,104.8	$ 16,658.8

Schedule II - Condensed Finan_3

Schedule II - Condensed Financial Information of Registrant (Parent Only) - Statements of Financial Position - Parenthetical (Details) - $ / shares shares in Millions	Dec. 31, 2018	Dec. 31, 2017
Condensed Financial Statements, Captions [Line Items]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	2,500	2,500
Common stock, issued (in shares)	476.7	474.1
Common stock, outstanding (in shares)	279.5	289
Treasury stock (in shares)	197.2	185.1
Principal Financial Group, Inc. Parent Only
Condensed Financial Statements, Captions [Line Items]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	2,500	2,500
Common stock, issued (in shares)	476.7	474.1
Common stock, outstanding (in shares)	279.5	289
Treasury stock (in shares)	197.2	185.1

Schedule II - Condensed Finan_4

Schedule II - Condensed Financial Information of Registrant (Parent Only) - Statements of Operations (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues
Fees and other revenues									$ 4,273.8	$ 3,892.3	$ 3,627.4
Net investment income (loss)									3,629.2	3,459.3	3,296.5
Net realized capital gains (losses)									(75.4)	524.2	171.1
Total revenues	$ 3,770.6	$ 4,348.1	$ 3,234.9	$ 2,883.6	$ 3,237.7	$ 4,627.8	$ 3,178.3	$ 3,049.4	14,237.2	14,093.2	12,394.1
Expenses
Other operating costs and expenses									4,136.7	3,893.8	3,732.6
Total expenses	3,527.7	3,779	2,719.5	2,426.6	2,922.9	3,470	2,812.7	2,635.4	12,452.8	11,841	10,802.4
Income (loss) before income taxes									1,784.4	2,252.2	1,591.7
Income taxes (benefits)									230.7	(72.3)	229.9
Net income (loss) attributable to Principal Financial Group, Inc.	$ 236.5	$ 456.3	$ 456.6	$ 397.1	$ 841.8	$ 810.2	$ 309.5	$ 348.9	1,546.5	2,310.4	1,316.5
Principal Financial Group, Inc. Parent Only
Revenues
Fees and other revenues										7.8
Net investment income (loss)									25.8	9.7	3.4
Net realized capital gains (losses)									(8.2)	(0.6)
Total revenues									17.6	16.9	3.4
Expenses
Other operating costs and expenses									191.9	238.1	312.3
Total expenses									191.9	238.1	312.3
Income (loss) before income taxes									(174.3)	(221.2)	(308.9)
Income taxes (benefits)									(62.5)	63.1	(134.9)
Equity in the net income (loss) of subsidiaries									1,658.3	2,594.7	1,490.5
Net income (loss) attributable to Principal Financial Group, Inc.									$ 1,546.5	$ 2,310.4	$ 1,316.5

Schedule II - Condensed Finan_5

Schedule II - Condensed Financial Information of Registrant (Parent Only) - Statements of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating activities
Net income (loss)	$ 231.7	$ 460	$ 459.5	$ 402.5	$ 842.9	$ 813.2	$ 314.8	$ 353.6	$ 1,553.7	$ 2,324.5	$ 1,361.8
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Net realized capital (gains) losses									75.4	(524.2)	(171.1)
Stock-based compensation									77.4	82.7	84.4
Changes in:
Net cash flows for trading securities and equity securities with operating intent									(133.7)	(332.2)	166.5
Current and deferred income taxes (benefits)									274.7	(164.4)	45.8
Other									(35.7)	17	(72.1)
Net cash provided by (used in) operating activities									5,156.5	4,188	3,857.8
Investing activities
Fixed maturities available-for-sale and equity securities with intent to hold: Purchases									(13,909.8)	(13,371.6)	(13,763.8)
Fixed maturities available-for-sale and equity securities with intent to hold: Maturities									6,217.6	8,743.2	7,742.8
Net (purchases) sales of property and equipment									(92.3)	(164.8)	(154.9)
Net change in other investments									(302.7)	(70.8)	26
Net cash provided by (used in) investing activities									(5,702.5)	(4,052.8)	(5,153.9)
Financing activities
Issuance of common stock									64	162.5	37.8
Acquisition of treasury stock									(671.6)	(220.4)	(277.3)
Excess tax benefits from share-based payment arrangements											12
Dividends to common stockholders									(598.6)	(540)	(464.9)
Principal repayments of long-term debt									(1.3)	(56.5)	(799.3)
Issuance of long-term debt									80.8	2.8	656.1
Net cash provided by (used in) financing activities									1,052.7	(384)	1,450.9
Net increase (decrease) in cash and cash equivalents									506.7	(248.8)	154.8
Cash and cash equivalents at beginning of period				2,470.8				2,719.6	2,470.8	2,719.6	2,564.8
Cash and cash equivalents at end of period	2,977.5				2,470.8				2,977.5	2,470.8	2,719.6
Principal Financial Group, Inc. Parent Only
Operating activities
Net income (loss)									1,546.5	2,310.4	1,316.5
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Net realized capital (gains) losses									8.2	0.6
Stock-based compensation									2.9	3	3.6
Equity in the net (income) loss of subsidiaries									(1,658.3)	(2,594.7)	(1,490.5)
Changes in:
Net cash flows for trading securities and equity securities with operating intent									32.4	(352.6)
Current and deferred income taxes (benefits)									15.7	163.8	(60.3)
Other									(79.8)	26.3	42.1
Net cash provided by (used in) operating activities									(132.4)	(443.2)	(188.6)
Investing activities
Fixed maturities available-for-sale and equity securities with intent to hold: Purchases									(210.9)
Fixed maturities available-for-sale and equity securities with intent to hold: Maturities									2.3
Net (purchases) sales of property and equipment									(0.1)	(0.1)	(0.1)
Net change in other investments									(2.2)	(1.1)	1.3
Dividends and returns of capital received from (contributed to) unconsolidated entities									1,041.6	1,002.5	1,295.3
Net cash provided by (used in) investing activities									830.7	1,001.3	1,296.5
Financing activities
Issuance of common stock									64	162.5	37.8
Acquisition of treasury stock									(671.6)	(220.4)	(277.3)
Excess tax benefits from share-based payment arrangements											0.7
Dividends to common stockholders									(598.6)	(540)	(464.9)
Principal repayments of long-term debt											(744.5)
Issuance of long-term debt											644.2
Net cash provided by (used in) financing activities									(1,206.2)	(597.9)	(804)
Net increase (decrease) in cash and cash equivalents									(507.9)	(39.8)	303.9
Cash and cash equivalents at beginning of period				$ 842.8				$ 882.6	842.8	882.6	578.7
Cash and cash equivalents at end of period	$ 334.9				$ 842.8				$ 334.9	$ 842.8	$ 882.6

Schedule II - Condensed Finan_6

Schedule II - Condensed Financial Information of Registrant (Parent Only) - Financial Statement Footnotes (Details) - Principal Financial Group, Inc. Parent Only - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Dividends and Returns of Capital Received from (Contributed to) Unconsolidated Entity
Dividends and returns of capital received from (contributed to) unconsolidated entities	$ 1,041.6	$ 1,002.5	$ 1,295.3
Supplemental Disclosures of Non-Cash Investing Activity
Non-cash increase in investment in subsidiaries		74.6
Nonqualified benefit plans
Condensed Financial Statements, Captions [Line Items]
Assets held in Rabbi trusts	671.7	643.3
Liabilities held in Rabbi trusts	$ 542.4	$ 524.7

Schedule III - Supplementary _2

Schedule III - Supplementary Insurance Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Supplementary Insurance Information
Deferred acquisition costs	$ 3,693.5	$ 3,540.7	$ 3,380.2	$ 3,276.1
Future policy benefits and claims	35,664.8	33,019.3
Contractholder and other policyholder funds	40,588.1	39,004.8
Premiums and other considerations	6,409.6	6,217.4	5,299.1
Net investment income	3,629.2	3,459.3	3,296.5
Benefits, claims and settlement expenses	8,192.5	7,822.6	6,913.2
Amortization of deferred acquisition costs	253.5	234.6	285.1
Other operating expenses	3,883.2	3,659.2	3,447.5
Retirement and Income Solutions
Supplementary Insurance Information
Deferred acquisition costs	988.3	887.5
Future policy benefits and claims	21,217.9	18,437.2
Contractholder and other policyholder funds	32,295.1	30,767.9
Premiums and other considerations	3,635.9	3,671.1	2,860.9
Net investment income	2,204.1	2,069.2	1,931.2
Benefits, claims and settlement expenses	5,099	4,972.6	4,108.3
Amortization of deferred acquisition costs	124.5	35.8	161.4
Other operating expenses	1,191.2	1,158.1	1,114.3
Principal Global Investors
Supplementary Insurance Information
Net investment income	4.2	13.4	12.6
Other operating expenses	1,176.9	974.7	935.8
Principal International
Supplementary Insurance Information
Deferred acquisition costs	13.1	209
Future policy benefits and claims	4,317.6	4,703.6
Contractholder and other policyholder funds	1,183.1	1,252.4
Premiums and other considerations	317.2	218	274.6
Net investment income	494.9	510.6	491.4
Benefits, claims and settlement expenses	646.6	507.1	584.6
Amortization of deferred acquisition costs	1.3	22.4	22.5
Other operating expenses	467.9	404.3	365.5
U.S. Insurance Solutions
Supplementary Insurance Information
Deferred acquisition costs	2,692.1	2,444.2
Future policy benefits and claims	9,950.3	9,700.1
Contractholder and other policyholder funds	7,458.4	7,322.3
Premiums and other considerations	2,456.5	2,328.3	2,163.6
Net investment income	806.2	775	751.2
Benefits, claims and settlement expenses	2,444.6	2,345.3	2,221.4
Amortization of deferred acquisition costs	127.7	176.4	101.2
Other operating expenses	939.9	867.7	796.4
Corporate
Supplementary Insurance Information
Future policy benefits and claims	179	178.4
Contractholder and other policyholder funds	(348.5)	(337.8)
Net investment income	119.8	91.1	110.1
Benefits, claims and settlement expenses	2.3	(2.4)	(1.1)
Other operating expenses	$ 107.3	$ 254.4	$ 235.5

Schedule IV - Reinsurance (Deta

Schedule IV - Reinsurance (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Life insurance in force
Life insurance in force gross amount	$ 530,828.6	$ 486,887.5	$ 437,977.4
Life insurance in force ceded to other companies	324,691.3	287,538.8	242,777.7
Life insurance in force assumed from other companies	1,028.6	1,059.5	1,087.8
Life insurance in force net amount	$ 207,165.9	$ 200,408.2	$ 196,287.5
Life insurance in force, percentage of amount assumed to net (as a percent)	0.50%	0.50%	0.60%
Premiums:
Premiums gross amount	$ 6,928.3	$ 6,699.3	$ 5,753.8
Premiums ceded to other companies	520.4	483.8	456.4
Premiums assumed from other companies	1.7	1.9	1.7
Premiums net amount	6,409.6	6,217.4	5,299.1
Life insurance and annuities
Premiums:
Premiums gross amount	5,055.8	4,945.7	4,137.1
Premiums ceded to other companies	359.9	320.7	285.2
Premiums assumed from other companies	1.7	1.9	1.7
Premiums net amount	4,697.6	4,626.9	3,853.6
Accident and health insurance premiums
Premiums:
Premiums gross amount	1,872.5	1,753.6	1,616.7
Premiums ceded to other companies	160.5	163.1	171.2
Premiums net amount	$ 1,712	$ 1,590.5	$ 1,445.5