Principal Financial (PFG) 10-Q 28 Oct 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 21, 2015
Document and Entity Information
Entity Registrant Name	PRINCIPAL FINANCIAL GROUP INC
Entity Central Index Key	1,126,328
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		292,751,140
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Assets
Fixed maturities, available-for-sale (2015 and 2014 include $261.1 million and $278.2 million related to consolidated variable interest entities)	$ 49,780.6	$ 49,670.8
Fixed maturities, trading (2015 and 2014 both include $100.4 million related to consolidated variable interest entities)	710.2	604.6
Equity securities, available-for-sale (2015 includes $315.8 million related to consolidated variable interest entities)	465.3	123
Equity securities, trading (2015 and 2014 include $321.2 million and $345.3 million related to consolidated variable interest entities)	869.1	840.2
Mortgage loans	12,232.1	11,811.6
Real estate (2015 and 2014 include $298.9 million and $284.9 million related to consolidated variable interest entities)	1,415	1,344.6
Policy loans	822.8	829.2
Other investments (2015 and 2014 include $36.8 million and $40.6 million related to consolidated variable interest entities and $56.6 million and $127.2 million measured at fair value under the fair value option)	3,270.4	3,209.8
Total investments	69,565.5	68,433.8
Cash and cash equivalents	2,514.2	1,863.9
Accrued investment income	566.8	505.9
Premiums due and other receivables	1,401.6	1,213
Deferred acquisition costs	3,145	2,993
Property and equipment	611.6	590.2
Goodwill	1,005.2	1,007.4
Other intangibles	1,398.9	1,323.5
Separate account assets (2015 and 2014 include $32,827.6 million and $34,655.4 million related to consolidated variable interest entities)	134,045.8	140,072.8
Other assets	1,110.8	1,083.5
Total assets	215,365.4	219,087
Liabilities
Contractholder funds (2015 includes $329.2 million related to consolidated variable interest entities)	35,115.2	34,726.7
Future policy benefits and claims	25,521.7	24,036.6
Other policyholder funds	819.5	812.7
Short-term debt	221.6	28
Long-term debt (2015 and 2014 include $38.2 million and $82.3 million related to consolidated variable interest entities)	3,286.1	2,531.2
Income taxes currently payable	16.7	11.5
Deferred income taxes	878.8	1,035.3
Separate account liabilities (2015 and 2014 include $32,827.6 million and $34,655.4 million related to consolidated variable interest entities)	134,045.8	140,072.8
Other liabilities (2015 and 2014 include $340.7 million and $344.0 million related to consolidated variable interest entities, of which $64.7 million and $71.0 million are measured at fair value under the fair value option)	5,696.2	5,542.2
Total liabilities	205,601.6	208,797
Redeemable noncontrolling interest	78	58
Stockholders' equity
Common stock, par value $.01 per share - 2,500.0 million shares authorized, 466.0 million and 462.7 million shares issued, and 293.5 million and 293.9 million shares outstanding in 2015 and 2014	4.7	4.6
Additional paid-in capital	9,524.2	9,945.5
Retained earnings (accumulated deficit)	6,734.7	6,114.1
Accumulated other comprehensive income (loss)	(524.4)	50.4
Treasury stock, at cost (172.5 million and 168.8 million shares in 2015 and 2014)	(6,118.9)	(5,930.7)
Total stockholders' equity attributable to Principal Financial Group, Inc.	9,620.3	10,184
Noncontrolling interest	65.5	48
Total stockholders' equity	9,685.8	10,232
Total liabilities and stockholders' equity	$ 215,365.4	$ 219,087
Series A
Stockholders' equity
Preferred stock, value
Series B
Stockholders' equity
Preferred stock, value		$ 0.1

Consolidated Statements of Fin3

Consolidated Statements of Financial Position (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Fixed maturities, available-for-sale	$ 49,780.6	$ 49,670.8
Fixed maturities, trading	710.2	604.6
Equity securities, available-for-sale	465.3	123
Equity securities, trading	869.1	840.2
Real estate	1,415	1,344.6
Other investments	3,270.4	3,209.8
Other investments measured at fair value under fair value option	56.6	127.2
Separate account assets	134,045.8	140,072.8
Contractholder funds	35,115.2	34,726.7
Long-term debt	3,286.1	2,531.2
Separate account liabilities	134,045.8	140,072.8
Other liabilities	$ 5,696.2	$ 5,542.2
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	2,500,000,000	2,500,000,000
Common stock, issued (in shares)	466,000,000	462,700,000
Common stock, outstanding (in shares)	293,500,000	293,900,000
Treasury stock (in shares)	172,500,000	168,800,000
Series A
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, liquidation preference (in dollars per share)	$ 100	$ 100
Preferred stock, authorized (in shares)	0	3,000,000
Preferred stock, issued (in shares)	0	3,000,000
Preferred stock, outstanding (in shares)	0	3,000,000
Series B
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, liquidation preference (in dollars per share)	$ 25	$ 25
Preferred stock, authorized (in shares)	0	10,000,000
Preferred stock, issued (in shares)	0	10,000,000
Preferred stock, outstanding (in shares)	0	10,000,000
Aggregate consolidated variable interest entities
Fixed maturities, available-for-sale	$ 261.1	$ 278.2
Fixed maturities, trading	100.4	100.4
Equity securities, available-for-sale	315.8
Equity securities, trading	321.2	345.3
Real estate	298.9	284.9
Other investments	36.8	40.6
Separate account assets	32,827.6	34,655.4
Contractholder funds	329.2
Long-term debt	38.2	82.3
Separate account liabilities	32,827.6	34,655.4
Other liabilities	340.7	344
Other liabilities measured at fair value under fair value option	$ 64.7	$ 71

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues
Premiums and other considerations	$ 1,557.1	$ 875.8	$ 4,155.9	$ 2,514.8
Fees and other revenues	891.9	884.5	2,744.2	2,569.7
Net investment income (loss)	753.5	770.4	2,267.3	2,444.1
Net realized capital gains (losses), excluding impairment losses on available-for-sale securities	46	(24.5)	11.1	105
Net other-than-temporary impairment (losses) recoveries on available-for-sale securities	(6.5)	(7.3)	6.9	18.5
Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified to (from) other comprehensive income	(1.1)	(14.6)	(28)	(82.5)
Net impairment (losses) recoveries on available-for-sale securities	(7.6)	(21.9)	(21.1)	(64)
Net realized capital gains (losses)	38.4	(46.4)	(10)	41
Total revenues	3,240.9	2,484.3	9,157.4	7,569.6
Expenses
Benefits, claims and settlement expenses	1,869.6	1,113.8	5,160.5	3,609.7
Dividends to policyholders	40.7	44.2	123.5	134.5
Operating expenses	961.4	932.5	2,751.6	2,647.7
Total expenses	2,871.7	2,090.5	8,035.6	6,391.9
Income (loss) before income taxes	369.2	393.8	1,121.8	1,177.7
Income taxes (benefits)	68.3	141	126.9	281.6
Net income (loss)	300.9	252.8	994.9	896.1
Net income (loss) attributable to noncontrolling interest	0.5	3.9	14.5	30.7
Net income (loss) attributable to Principal Financial Group, Inc.	300.4	248.9	980.4	865.4
Preferred stock dividends		8.2	16.5	24.7
Excess of redemption value over carrying value of preferred shares redeemed			8.2
Net income (loss) available to common stockholders	$ 300.4	$ 240.7	$ 955.7	$ 840.7
Earnings per common share
Basic earnings per common share (in dollars per share)	$ 1.02	$ 0.78	$ 3.24	$ 2.78
Diluted earnings per common share (in dollars per share)	1.01	0.77	3.20	2.75
Dividends declared per common share (in dollars per share)	$ 0.38	$ 0.34	$ 1.12	$ 0.94

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Consolidated Statements of Comprehensive Income
Net income (loss)	$ 300.9	$ 252.8	$ 994.9	$ 896.1
Other comprehensive income (loss), net:
Net unrealized gains (losses) on available-for-sale securities	28.3	(73.9)	(221)	296.6
Noncredit component of impairment losses on fixed maturities, available-for-sale	1	11	17.9	48.9
Net unrealized gains (losses) on derivative instruments	10.3	29.2	22	42.3
Foreign currency translation adjustment	(263.2)	(195.8)	(438.3)	(208.4)
Net unrecognized postretirement benefit obligation	11.9	3.6	35.9	10.7
Other comprehensive income (loss)	(211.7)	(225.9)	(583.5)	190.1
Comprehensive income (loss)	89.2	26.9	411.4	1,086.2
Comprehensive income (loss) attributable to noncontrolling interest	(13.8)	(2.7)	(4.5)	23.9
Comprehensive income (loss) attributable to Principal Financial Group, Inc.	$ 103	$ 29.6	$ 415.9	$ 1,062.3

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Millions	Series APreferred stock	Series BPreferred stock	Common stock	Additional paid-in capital	Retained earnings (accumulated deficit)	Accumulated other comprehensive income (loss)	Treasury stock	Noncontrolling interest	Total
Balances at Dec. 31, 2013	$ 0	$ 0.1	$ 4.6	$ 9,798.9	$ 5,405.4	$ 183.2	$ (5,708)	$ 92.8	$ 9,777
Increase (decrease) in stockholders' equity
Common stock issued				69.6					69.6
Stock-based compensation and additional related tax benefits				62.3	(4.5)				57.8
Treasury stock acquired, common							(222.5)		(222.5)
Dividends to common stockholders					(276.7)				(276.7)
Dividends to preferred stockholders					(24.7)				(24.7)
Distributions to noncontrolling interest								(22.9)	(22.9)
Contributions from noncontrolling interest								7.1	7.1
Purchase of subsidiary shares from noncontrolling interest				(0.4)				(41.5)	(41.9)
Adjustments to redemption amount of redeemable noncontrolling interest				(13.5)	(19.7)				(33.2)
Net income (loss) (excludes $1.5 million and $8.3 million attributable to redeemable noncontrolling interest in 2015 and 2014 respectively)					865.4			22.4	887.8
Other comprehensive income (loss) (excludes $(17.7) million and $(1.5) million attributable to redeemable noncontrolling interest in 2015 and 2014 respectively)						196.9		(5.3)	191.6
Balances at Sep. 30, 2014	0	0.1	4.6	9,916.9	5,945.2	380.1	(5,930.5)	52.6	10,369
Balances at Dec. 31, 2014	0	0.1	4.6	9,945.5	6,114.1	50.4	(5,930.7)	48	10,232
Increase (decrease) in stockholders' equity
Common stock issued			0.1	71.4					71.5
Stock-based compensation and additional related tax benefits				71.6	(4.9)				66.7
Treasury stock acquired, common							(188.2)		(188.2)
Dividends to common stockholders					(330.2)				(330.2)
Dividends to preferred stockholders					(16.5)				(16.5)
Preferred stock redemption		(0.1)		(541.7)	(8.2)				(550)
Distributions to noncontrolling interest								(13.7)	(13.7)
Contributions from noncontrolling interest								6.7	6.7
Purchase of subsidiary shares from noncontrolling interest				(19)		(10.3)		12.8	(16.5)
Adjustments to redemption amount of redeemable noncontrolling interest				(3.6)					(3.6)
Net income (loss) (excludes $1.5 million and $8.3 million attributable to redeemable noncontrolling interest in 2015 and 2014 respectively)					980.4			13	993.4
Other comprehensive income (loss) (excludes $(17.7) million and $(1.5) million attributable to redeemable noncontrolling interest in 2015 and 2014 respectively)						(564.5)		(1.3)	(565.8)
Balances at Sep. 30, 2015	$ 0	$ 0	$ 4.7	$ 9,524.2	$ 6,734.7	$ (524.4)	$ (6,118.9)	$ 65.5	$ 9,685.8

Consolidated Statements of Sto7

Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Consolidated Statements of Stockholders' Equity
Net income (loss) attributable to redeemable noncontrolling interest	$ 1.5	$ 8.3
Other comprehensive income (loss) attributable to redeemable noncontrolling interest	$ (17.7)	$ (1.5)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Operating activities
Net income (loss)	$ 994.9	$ 896.1
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Amortization of deferred acquisition costs	223.2	282.8
Additions to deferred acquisition costs	(289.4)	(291.8)
Accrued investment income	(60.9)	(13)
Net cash flows for trading securities	(177.5)	(47.8)
Premiums due and other receivables	(165.4)	85
Contractholder and policyholder liabilities and dividends	2,660.2	1,211.4
Current and deferred income taxes (benefits)	(95.3)	204.3
Net realized capital (gains) losses	10	(41)
Depreciation and amortization expense	149.3	122.8
Mortgage loans held for sale, sold or repaid, net of gain		8.4
Real estate acquired through operating activities	(32.4)	(43.6)
Real estate sold through operating activities	53.3	146.1
Stock-based compensation	66.7	58.4
Other	(13.7)	(380.5)
Net adjustments	2,328.1	1,301.5
Net cash provided by (used in) operating activities	3,323	2,197.6
Investing activities
Available-for-sale securities: Purchases	(7,052.6)	(6,596)
Available-for-sale securities: Sales	1,410.8	1,871.5
Available-for-sale securities: Maturities	5,020.5	4,499.3
Mortgage loans acquired or originated	(1,658)	(1,614.2)
Mortgage loans sold or repaid	1,175.3	1,319.8
Real estate acquired	(255.8)	(246.8)
Net (purchases) sales of property and equipment	(96.3)	(117.5)
Purchases of interest in subsidiaries, net of cash acquired	(293.7)
Net change in other investments	(17)	56.6
Net cash provided by (used in) investing activities	(1,766.8)	(827.3)
Financing activities
Issuance of common stock	71.5	69.6
Acquisition of treasury stock	(188.2)	(222.5)
Proceeds from financing element derivatives	0.2	14.9
Payments for financing element derivatives	(60.9)	(41.5)
Excess tax benefits from share-based payment arrangements	15.2	8.6
Purchase of subsidiary shares from noncontrolling interest	(22.5)	(222.4)
Dividends to common stockholders	(330.2)	(276.7)
Dividends to preferred stockholders	(16.5)	(24.7)
Preferred stock redemption	(550)
Issuance of long-term debt	800.4	36.5
Principal repayments of long-term debt	(52.6)	(100.3)
Net proceeds from (repayments of) short-term borrowings	197.2	(20.5)
Investment contract deposits	4,190.3	4,184.3
Investment contract withdrawals	(4,974.3)	(5,864.3)
Net increase (decrease) in banking operation deposits	24.9	(2.3)
Other	(10.4)	(10)
Net cash provided by (used in) financing activities	(905.9)	(2,471.3)
Net increase (decrease) in cash and cash equivalents	650.3	(1,101)
Cash and cash equivalents at beginning of period	1,863.9	2,371.8
Cash and cash equivalents at end of period	$ 2,514.2	$ 1,270.8

Nature of Operations and Signif

Nature of Operations and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
Nature of Operations and Significant Accounting Policies
Nature of Operations and Significant Accounting Policies	1. Nature of Operations and Significant Accounting Policies Basis of Presentation The accompanying unaudited consolidated financial statements of Principal Financial Group, Inc. (“PFG”), its majority-owned subsidiaries and its consolidated variable interest entities (“VIEs”), have been prepared in conformity with accounting principles generally accepted in the U.S. (“U.S. GAAP”) for interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2015, are not necessarily indicative of the results that may be expected for the year ended December 31, 2015. These interim unaudited consolidated financial statements should be read in conjunction with our annual audited financial statements as of December 31, 2014, included in our Form 10-K for the year ended December 31, 2014, filed with the United States Securities and Exchange Commission (“SEC”). The accompanying consolidated statement of financial position as of December 31, 2014, has been derived from the audited consolidated statement of financial position but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In February 2015, we announced planned changes to our organizational structure to better align businesses, distribution teams and product offerings for future growth. We plan to implement these changes during 2015 and will report our consolidated financial statements under the new structure in our December 31, 2015, Form 10-K. The changes are not expected to have a material impact on our consolidated financial statements. Recent Accounting Pronouncements Effect on our consolidated Date of financial statements or Description adoption other significant matters Standards not yet adopted: 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. January 1, 2018 We are currently evaluating the impact this guidance will have on our consolidated financial statements. Short-duration insurance contracts This authoritative guidance requires additional disclosures related to short-duration insurance contracts. December 31, 2016 We are currently evaluating the impact this guidance will have on our consolidated financial statements. 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 is not expected to have a material impact on our consolidated financial statements. 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 is not expected to have a material impact on our consolidated financial statements. Effect on our consolidated Date of financial statements or Description adoption other significant matters 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 We are currently evaluating the impact this guidance will have on our consolidated financial statements. Standards adopted: Discontinued operations This authoritative guidance amends the definition of discontinued operations and requires entities to provide additional disclosures associated with discontinued operations, as well as disposal transactions that do not meet the discontinued operations criteria. The guidance requires discontinued operations treatment for disposals of a component or group of components of an entity that represents a strategic shift that has or will have a major impact on an entity’s operations or financial results. The guidance also expands the scope to disposals of equity method investments and businesses that, upon initial acquisition, qualify as held for sale. January 1, 2015 This guidance was adopted prospectively and did not have a material impact on our consolidated financial statements. Foreign currency cumulative translation adjustment This authoritative guidance clarifies how the cumulative translation adjustment related to a parent’s investment in a foreign entity should be released when certain transactions related to the foreign entity occur. January 1, 2014 The guidance was adopted prospectively and did not have a material impact on our consolidated financial statements. 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. At September 30, 2015 and December 31, 2014, the separate account assets include a separate account valued at $173.3 million and $205.4 million, respectively, which primarily includes 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. Goodwill and Other Intangibles On September 1, 2015, we completed our purchase of AXA’s Mandatory Provident Fund (“MPF”) and Occupational Retirement Schemes Ordinance (“ORSO”) pension business in Hong Kong for $335.5 million. As part of the transaction, we entered into an exclusive 15-year distribution agreement with AXA to provide co-branded pension products through AXA’s agency network in Hong Kong. AXA’s MPF and ORSO pension business is consolidated within our Principal International segment. The purchase price resulted in intangible assets and goodwill.

Variable Interest Entities

Variable Interest Entities	9 Months Ended
	Sep. 30, 2015
Variable Interest Entities
Variable Interest Entities	2. Variable Interest Entities We have relationships with and may have a variable interest in various types of special purpose entities. Following is a discussion of our interest in entities that meet the definition of a VIE. When we are the primary beneficiary, we are required to consolidate the entity in our financial statements. The primary beneficiary of a VIE is defined as 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. For VIEs that are investment companies, the primary beneficiary is the enterprise who absorbs the majority of the entity’s expected losses, receives a majority of the expected residual returns or both. On an ongoing basis, we assess whether we are the primary beneficiary of VIEs in which we have a relationship. Consolidated Variable Interest Entities Grantor Trusts We contributed undated subordinated floating rate notes to three grantor trusts. The trusts separated the 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 have 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 continuing interest in the trusts. Collateralized Private Investment Vehicles We invest in synthetic collateralized debt obligations, collateralized bond obligations, collateralized loan obligations and other collateralized structures, which are VIEs due to insufficient equity to sustain the entities (collectively known as “collateralized private investment vehicles”). The performance of the notes of these structures is primarily linked to a synthetic portfolio by derivatives; each note has a specific loss attachment and detachment point. The notes and related derivatives are collateralized by a pool of permitted investments. The investments are held by a trustee and can only be liquidated to settle obligations of the trusts. These obligations primarily include derivatives and the notes due at maturity or termination of the trusts. We determined we are the primary beneficiary for one of these entities because we act as the investment manager of the underlying portfolio and we have an ownership interest. 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 mortgages it purchased. This is considered a VIE due to insufficient equity to sustain itself. We have 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 We hold an equity interest in Chilean mandatory privatized social security funds in which we provide asset management services. We determined that 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 that we are the primary beneficiary through our power to make decisions and our 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 client 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 MPF and ORSO 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 have 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 that we are the primary beneficiary because we have 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. 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 are as follows: Collateralized private Mandatory Grantor investment retirement trusts vehicles CMBS savings Real estate Total (in millions) September 30, 2015 Fixed maturities, available-for-sale $ $ — $ — $ — $ — $ Fixed maturities, trading — — — — Equity securities, available-for-sale — — — — Equity securities, trading — — — — Real estate — — — — Other investments — — — Cash — — — — Accrued investment income — — Premiums due and other receivables — — — — Separate account assets — — — — Other assets — — — — ) ) Total assets $ $ $ $ $ $ Contractholder funds $ — $ — $ — $ $ — $ Long-term debt — — — — Income taxes currently payable — — — — ) ) Deferred income taxes — — — ) Separate account liabilities — — — — Other liabilities (1) — — Total liabilities $ $ $ — $ $ $ December 31, 2014 Fixed maturities, available-for-sale $ $ — $ — $ — $ — $ Fixed maturities, trading — — — — Equity securities, trading — — — — Real estate — — — — Other investments — — — Cash — — — — Accrued investment income — — Separate account assets — — — — Other assets — — — — Total assets $ $ $ $ $ $ Long-term debt $ — $ — $ — $ — $ $ Income taxes currently payable — — — — Deferred income taxes — — — ) Separate account liabilities — — — — Other liabilities (1) — Total liabilities $ $ $ $ $ $ (1) Grantor trusts contain an embedded derivative of a forecasted transaction to deliver the underlying securities; the collateralized private investment vehicle includes derivative liabilities and an obligation to redeem notes at maturity or termination of the trusts. We did not provide financial or other support to investees designated as VIEs for the periods ended September 30, 2015 and December 31, 2014. Unconsolidated Variable Interest Entities Invested Securities 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 and other investments in the consolidated statements of financial position and are described below. Unconsolidated VIEs include 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. As previously discussed, we invest in several types of collateralized private investment vehicles, which are VIEs. These include cash and synthetic structures that we do not manage. We have determined we are not the primary beneficiary of these collateralized private investment vehicles 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 various VIE trusts as a debt holder. All of these entities are classified as VIEs due to insufficient equity to sustain them. 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, some of which are classified as VIEs. Some of these entities have returns in the form of income tax credits. These entities are classified as VIEs as the general partners do not have equity investments at risk in the entities. We have determined we are not the primary beneficiary because we are not the general partner, who makes all the significant decisions for the entities. Other limited partnerships and fund interests have returns from investment income. These entities are classified as VIEs as the decision makers do not have equity investments at risk in the entities. We have determined we are not the primary beneficiary because we do not make the significant decisions for the entities or our variable interest does not absorb the majority of the variability of the entities’ net assets. The carrying value and maximum loss exposure for our unconsolidated VIEs were as follows: Maximum exposure to Asset carrying value loss (1) (in millions) September 30, 2015 Fixed maturities, available-for-sale: Corporate $ $ Residential mortgage-backed pass-through securities Commercial mortgage-backed securities Collateralized debt obligations Other debt obligations Fixed maturities, trading: Residential mortgage-backed pass-through securities Commercial mortgage-backed securities Collateralized debt obligations Other investments: Other limited partnership and fund interests December 31, 2014 Fixed maturities, available-for-sale: Corporate $ $ Residential mortgage-backed pass-through securities Commercial mortgage-backed securities Collateralized debt obligations Other debt obligations Fixed maturities, trading: Residential mortgage-backed pass-through securities Commercial mortgage-backed securities Collateralized debt obligations Other debt obligations Other investments: Other limited partnership and fund interests (1) Our risk of loss is limited to our initial investment measured at amortized cost for fixed maturities, available-for-sale and other investments. Our risk of loss is limited to our investment measured at fair value for our fixed maturities, trading. Sponsored Investment Funds We are the investment manager for certain money market mutual funds that are deemed to be VIEs. We are not the primary beneficiary of these VIEs since our involvement is limited primarily to being a service provider, and our variable interest does not absorb the majority of the variability of the entities’ net assets. As of September 30, 2015 and December 31, 2014, these VIEs held $1.3 billion and $1.4 billion in total assets, respectively. We have no contractual obligation to contribute to the funds. We provide asset management and other services to certain investment structures for which we earn performance-based management fees. These structures are considered VIEs. We are not the primary beneficiary of these entities as we do not have the obligation to absorb losses of the entities that could be potentially significant to the VIE or the right to receive benefits from these entities that could be potentially significant.

Investments

Investments	9 Months Ended
	Sep. 30, 2015
Investments
Investments	3. Investments Fixed Maturities and Equity Securities Fixed maturities include bonds, ABS, redeemable preferred stock and certain nonredeemable preferred securities. Equity securities include mutual funds, common stock, nonredeemable preferred stock and regulatory required investments. We classify fixed maturities and equity securities as either available-for-sale or trading at the time of the purchase and, accordingly, carry them at fair value. See Note 10, Fair Value Measurements, for methodologies related to the determination of fair value. Unrealized gains and losses related to available-for-sale securities, excluding those in fair value hedging relationships, are reflected in stockholders’ equity, net of adjustments associated with deferred acquisition costs (“DAC”) and related actuarial balances , derivatives in cash flow hedge relationships and applicable income taxes. Unrealized gains and losses related to hedged portions of available-for-sale securities in fair value hedging relationships and mark-to-market adjustments on certain trading securities 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 and equity securities 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 other comprehensive income (“OCI”). For loan-backed and structured securities, we recognize income using a constant effective yield based on currently anticipated cash flows. The amortized cost, gross unrealized gains and losses, other-than-temporary impairments in accumulated other comprehensive income (“AOCI”) and fair value of fixed maturities and equity securities available-for-sale are summarized as follows: Other-than- Gross Gross temporary Amortized unrealized unrealized impairments in cost gains losses Fair value AOCI (1) (in millions) September 30, 2015 Fixed maturities, available-for-sale: U.S. government and agencies $ $ $ $ $ — Non-U.S. governments — States and political subdivisions — Corporate Residential mortgage-backed pass-through securities — Commercial mortgage-backed securities Collateralized debt obligations Other debt obligations Total fixed maturities, available-for-sale $ $ $ $ $ Total equity securities, available-for-sale $ $ $ $ December 31, 2014 Fixed maturities, available-for-sale: U.S. government and agencies $ $ $ $ $ — Non-U.S. governments — States and political subdivisions — Corporate Residential mortgage-backed pass-through securities — Commercial mortgage-backed securities Collateralized debt obligations Other debt obligations Total fixed maturities, available-for-sale $ $ $ $ $ Total equity securities, available-for-sale $ $ $ $ (1) Excludes $144.5 million and $167.5 million as of September 30, 2015 and December 31, 2014, 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. The amortized cost and fair value of fixed maturities available-for-sale at September 30, 2015, by expected maturity, were as follows: Amortized cost Fair value (in millions) Due in one year or less $ $ Due after one year through five years Due after five years through ten years Due after ten years Subtotal Mortgage-backed and other asset-backed securities Total $ $ 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 Realized Capital Gains and Losses 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 certain trading securities, mark-to-market adjustments on certain seed money investments, 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 and impairments of real estate held for investment. 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). The major components of net realized capital gains (losses) on investments are summarized as follows: For the three months ended For the nine months ended September 30, September 30, 2015 2014 2015 2014 (in millions) Fixed maturities, available-for-sale: Gross gains $ $ $ $ Gross losses ) ) ) ) Net impairment losses ) ) ) ) Hedging, net ) ) ) Fixed maturities, trading ) ) Equity securities, available-for-sale: Gross gains — Gross losses ) ) ) ) Net impairment recoveries (losses) — ) Equity securities, trading ) ) Mortgage loans ) ) ) ) Derivatives ) Other ) ) Net realized capital gains (losses) $ $ ) $ ) $ Proceeds from sales of investments (excluding call and maturity proceeds) in fixed maturities, available-for-sale were $331.7 million and $437.1 million for the three months ended September 30, 2015 and 2014, and $1,213.0 million and $1,744.6 million for the nine months ended September 30, 2015 and 2014, respectively. Other-Than-Temporary Impairments We have a process in place to identify fixed maturity and equity securities that could potentially have a credit impairment that is other than temporary. 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-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 that a security is deemed to be other than temporarily impaired, an impairment loss is recognized. Impairment losses on equity securities are recognized in net income and are measured as the difference between amortized cost and fair value. 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”). Total other-than-temporary impairment losses, net of recoveries from the sale of previously impaired securities, were as follows: For the three months ended For the nine months ended September 30, September 30, 2015 2014 2015 2014 (in millions) Fixed maturities, available-for-sale $ ) $ ) $ $ Equity securities, available-for-sale — ) Total other-than-temporary impairment losses, net of recoveries from the sale of previously impaired securities ) ) Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified from OCI (1) ) ) ) ) Net impairment losses on available-for-sale securities $ ) $ ) $ ) $ ) (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 three months ended For the nine months ended September 30, September 30, 2015 2014 2015 2014 (in millions) Beginning balance $ ) $ ) $ ) $ ) Credit losses for which an other-than-temporary impairment was not previously recognized ) ) ) ) Credit losses for which an other-than-temporary impairment was previously recognized ) ) ) ) Reduction for credit losses previously recognized on fixed maturities now sold, paid down or intended to be sold Net reduction for positive changes in cash flows expected to be collected and amortization (1) Foreign currency translation adjustment — — Ending balance $ ) $ ) $ ) $ ) (1) Amounts are recognized in net investment income. Gross Unrealized Losses for Fixed Maturities and Equity Securities For fixed maturities and equity securities available-for-sale 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 are summarized as follows: September 30, 2015 Less than Greater than or twelve months equal to 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 $ $ $ $ $ $ Non-U.S. governments States and political subdivisions Corporate Residential mortgage-backed pass-through securities Commercial mortgage-backed securities Collateralized debt obligations Other debt obligations Total fixed maturities, available-for-sale $ $ $ $ $ $ Total equity securities, available-for-sale $ $ $ $ $ $ Of the total amounts, Principal Life’s consolidated portfolio represented $10,100.0 million in available-for-sale fixed maturities with gross unrealized losses of $537.6 million. Of those fixed maturity securities in Principal Life’s consolidated portfolio with a gross unrealized loss position, 82% were investment grade (rated AAA through BBB-) with an average price of 95 (carrying value/amortized cost) at September 30, 2015. Gross unrealized losses in our fixed maturities portfolio increased during the nine months ended September 30, 2015, due primarily to widening 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 1,038 securities with a carrying value of $7,986.8 million and unrealized losses of $263.6 million reflecting an average price of 97 at September 30, 2015 . Of this portfolio, 85 % was investment grade (rated AAA through BBB-) at September 30, 2015, with associated unrealized losses of $182.4 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 356 securities with a carrying value of $2,113.2 million and unrealized losses of $274.0 million. The average rating of this portfolio was BBB+ with an average price of 89 at September 30, 2015. Of the $274.0 million in unrealized losses, the commercial mortgage-backed securities sector accounts for $43.4 million in unrealized losses with an average price of 87 and an average credit rating of BBB+. The remaining unrealized losses consist primarily of $189.8 million within the corporate sector at September 30, 2015. The average price of the corporate sector was 85 and the average credit rating was BBB. 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 maturity, we did not consider these investments to be other-than-temporarily impaired at September 30, 2015. December 31, 2014 Less than Greater than or twelve months equal to 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 $ $ $ $ $ $ Non-U.S. governments States and political subdivisions Corporate Residential mortgage-backed pass-through securities — Commercial mortgage-backed securities Collateralized debt obligations Other debt obligations Total fixed maturities, available-for-sale $ $ $ $ $ $ Total equity securities, available-for-sale $ $ — $ $ $ $ Of the total amounts, Principal Life’s consolidated portfolio represented $7,638.7 million in available-for-sale fixed maturities with gross unrealized losses of $310.8 million. Of those fixed maturity securities in Principal Life’s consolidated portfolio with a gross unrealized loss position, 80% were investment grade (rated AAA through BBB-) with an average price of 96 (carrying value/amortized cost) at December 31, 2014. Gross unrealized losses in our fixed maturities portfolio decreased during the year ended December 31, 2014, due primarily to a decrease 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 685 securities with a carrying value of $4,907.1 million and unrealized losses of $85.4 million reflecting an average price of 98 at December 31, 2014 . Of this portfolio, 77 % was investment grade (rated AAA through BBB-) at December 31, 2014, with associated unrealized losses of $44.4 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 429 securities with a carrying value of $2,731.6 million and unrealized losses of $225.4 million. The average rating of this portfolio was A with an average price of 92 at December 31, 2014. Of the $225.4 million in unrealized losses, the commercial mortgage-backed securities sector accounts for $59.9 million in unrealized losses with an average price of 87 and an average credit rating of A-. The remaining unrealized losses consist primarily of $113.0 million within the corporate sector at December 31, 2014. The average price of the corporate sector was 91 and the average credit rating was BBB+. 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 maturity, we did not consider these investments to be other-than-temporarily impaired at December 31, 2014. Net Unrealized Gains and Losses on Available-for-Sale Securities and Derivative Instruments The net unrealized gains and losses on investments in fixed maturities available-for-sale, equity securities available-for-sale and derivative instruments in cash flow hedge relationships are reported as a separate component 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 and applicable income taxes was as follows: September 30, 2015 December 31, 2014 (in millions) Net unrealized gains on fixed maturities, available-for-sale (1) $ $ Noncredit component of impairment losses on fixed maturities, available-for-sale ) ) Net unrealized losses on equity securities, available-for-sale ) ) Adjustments for assumed changes in amortization patterns ) ) Adjustments for assumed changes in policyholder liabilities ) ) Net unrealized gains on derivative instruments Net unrealized gains on equity method subsidiaries and noncontrolling interest adjustments Provision for deferred income taxes ) ) Net unrealized gains on available-for-sale securities and derivative instruments $ $ (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) home equity mortgages and (2) first lien mortgages. The carrying amount of our mortgage loan portfolio was as follows: September 30, 2015 December 31, 2014 (in millions) Commercial mortgage loans $ $ Residential mortgage loans Total amortized cost Valuation allowance ) ) Total carrying value $ $ We periodically purchase mortgage loans as well as sell mortgage loans we have originated. We purchased $73.2 million and $35.6 million of residential mortgage loans during the three months ended September 30, 2015 and 2014, and $216.3 million and $115.7 million during the nine months ended September 30, 2015 and 2014, respectively. We sold $17.5 million and $0.0 million of residential mortgage loans during the three months ended September 30, 2015 and 2014, and $60.3 million and $0.0 million during the nine months ended September 30, 2015 and 2014, respectively. We purchased $53.9 million and $0.0 million of commercial mortgage loans during the three months ended September 30, 2015 and 2014, and $200.8 million and $33.4 million during the nine months ended September 30, 2015 and 2014, respectively. We sold $0.0 million and $0.0 million of commercial mortgage loans during the three months ended September 30, 2015 and 2014, and $1.0 million and $1.1 million during the nine months ended September 30, 2015 and 2014, respectively. Our commercial mortgage loan portfolio consists primarily of non-recourse, fixed rate mortgages on stabilized properties. Our commercial mortgage loan portfolio is diversified by geographic region and specific collateral property type as follows: September 30, 2015 December 31, 2014 Amortized Percent Amortized Percent cost of total cost of total ($ in millions) Geographic distribution New England $ % $ % Middle Atlantic East North Central West North Central South Atlantic East South Central West South Central Mountain Pacific International Total $ % $ % Property type distribution Office $ % $ % Retail Industrial Apartments Hotel Mixed use/other Total $ % $ % Our residential mortgage loan portfolio is composed of home equity mortgages with an amortized cost of $234.1 million and $283.4 million and first lien mortgages with an amortized cost of $874.8 million and $860.9 million as of September 30, 2015 and December 31, 2014, respectively. 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. The majority of our first lien loans are concentrated in the Chilean market. 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 a Standard & Poor’s (“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 than other loans in our portfolio 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: September 30, 2015 Brick and mortar CTL Total (in millions) A- and above $ $ $ BBB+ thru BBB- BB+ thru BB- B+ and below Total $ $ $ December 31, 2014 Brick and mortar CTL Total (in millions) A- and above $ $ $ BBB+ thru BBB- BB+ thru BB- — B+ and below Total $ $ $ 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 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: September 30, 2015 Home equity First liens Total (in millions) Performing $ $ $ Nonperforming Total $ $ $ December 31, 2014 Home equity First liens Total (in millions) Performing $ $ $ Nonperforming Total $ $ $ 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 or according to the contractual terms of the loan. When a loan is placed on nonaccrual 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: September 30, 2015 December 31, 2014 (in millions) Commercial: Brick and mortar $ $ Residential: Home equity First liens Total $ $ The aging of our mortgage loans, based on amortized cost, was as follows: September 30, 2015 Recorded investment 90 days or 90 days or 30-59 days 60-89 days more past Total past more and past due past due due due Current Total loans accruing (in millions) Commercial-brick and mortar $ $ — $ $ $ $ $ — Commercial-CTL — — — — — Residential-home equity — Residential-first liens Total $ $ $ $ $ $ $ December 31, 2014 Recorded investment 90 days or 90 days or 30-59 days 60-89 days more past Total past more and past due past due due due Current Total loans accruing (in millions) Commercial-brick and mortar $ — $ $ $ $ $ $ — Commercial-CTL — — — — — Residential-home equity — Residential-first liens Total $ $ $ $ $ $ $ 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 that we will be unable to collect all amounts due according to contractual terms of the loan agreement. When we determine that 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 historic 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. We adjust these quantitative factors for qualitative factors of present conditions. Qualitative factors include items such as economic and business conditions, changes in the portfolio, value of underlying collateral and concentrations. Residential mortgage loan pools exclude loans that have been restructured or impaired, as those loans are evaluated individually. A rollforward of our valuation allowance and ending balances of the allowance and loan balance by basis of impairment method was as follows: For the three months ended September 30, 2015 Commercial Residential Total (in millions) Beginning balance $ $ $ Provision ) Charge-offs — ) ) Recoveries — Effect of exchange rates — ) ) Ending balance $ $ $ For the nine months ended September 30, 2015 Commercial Residential Total (in millions) Beginning balance $ $ $ Provision Charge-offs — ) ) Recoveries Effect of exchange rates — ) ) Ending bal

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2015
Derivative Financial Instruments
Derivative Financial Instruments	4. 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 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 collars to manage interest rate risk related to guaranteed minimum interest rate liabilities in our individual annuities contracts and lapse risk associated with higher interest rates. A swaption is an option to enter into an interest rate swap at a future date. We purchase 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 we issue, foreign currency-denominated fixed maturities we invest in and the financial results of our international operations, including 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 and to hedge the currency risk associated with a business combination. We used currency forwards during 2015 to hedge certain net investments in foreign operations. Currency forwards were not used for hedging any net investments in foreign operations during 2014. Equity Contracts Equity risk is the risk that we will incur economic losses due to adverse fluctuations in common stock. 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 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, as previously explained. 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 currently use 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 have investment-type insurance contracts in which the return is tied to a leveraged inflation index. We economically hedge the risk associated with these investment-type insurance 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 contracts 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 recognized 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. We posted $249.0 million and $271.6 million in cash and securities under collateral arrangements as of September 30, 2015 and December 31, 2014, respectively, to satisfy collateral requirements associated with our derivative credit support agreements and FCM agreements. These amounts include initial margin requirements. 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 September 30, 2015 and December 31, 2014, was $585.8 million and $656.2 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 $249.0 million and $271.6 million as of September 30, 2015 and December 31, 2014, 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 September 30, 2015, we would be required to post an additional $90.4 million of collateral to our counterparties. As of September 30, 2015 and December 31, 2014, we had received $273.9 million and $148.3 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: September 30, 2015 December 31, 2014 (in millions) Notional amounts of derivative instruments Interest rate contracts: Interest rate swaps $ $ Interest rate options Swaptions Interest rate futures Foreign exchange contracts: Currency swaps Currency forwards Equity contracts: Equity options Equity futures Credit contracts: Credit default swaps Total return swaps Futures Other contracts: Embedded derivatives Total notional amounts at end of period $ $ Credit exposure of derivative instruments Interest rate contracts: Interest rate swaps $ $ Interest rate options Foreign exchange contracts: Currency swaps Currency forwards Equity contracts: Equity options Credit contracts: Credit default swaps Total gross credit exposure Less: collateral received Net credit exposure $ $ The fair value of our derivative instruments classified as assets and liabilities was as follows: Derivative assets (1) Derivative liabilities (2) September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 (in millions) Derivatives designated as hedging instruments Interest rate contracts $ $ $ $ Foreign exchange contracts Total derivatives designated as hedging instruments $ $ $ $ Derivatives not designated as hedging instruments Interest rate contracts $ $ $ $ Foreign exchange contracts Equity contracts Credit contracts Other contracts — — Total derivatives not designated as hedging instruments Total derivative instruments $ $ $ $ (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 derivative liabilities with a fair value of $210.3 million and $176.4 million as of September 30, 2015 and December 31, 2014, 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. The majority of our credit derivative contracts sold reference a single name or reference security (referred to as “single name credit default swaps”). The remainder of our credit derivatives reference either a basket or index of securities. These instruments are either referenced in an over-the-counter 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 have purchased credit protection with identical underlyings to certain of our sold protection transactions. The effect of this purchased protection would reduce our total maximum future payments by $0.0 million as of September 30, 2015 and $10.0 million as of December 31, 2014. These purchased credit derivative transactions had a net asset (liability) fair value of $0.0 million as of September 30, 2015 and $(0.1) million as of December 31, 2014. In certain circumstances, our potential loss could also be reduced by any amount recovered in the default proceedings of the underlying credit name. We purchased an investment structure with embedded credit features that is fully consolidated into our financial statements. This consolidation results in recognition of the underlying credit derivatives and collateral within the structure, typically high quality fixed maturities that are owned by a special purpose vehicle. These credit derivatives reference several names in a basket structure. In the event of default, the collateral within the structure would typically be liquidated to pay the claims of the credit derivative counterparty. 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. September 30, 2015 Weighted Maximum average Notional Fair future expected life amount value payments (in years) (in millions) Single name credit default swaps Corporate debt AAA $ $ $ AA A BBB ) BB ) Government/municipalities AA Sovereign AA ) BBB ) Total single name credit default swaps Basket and index credit default swaps Corporate debt Near default (1) ) Government/municipalities AA ) Structured finance AAA Total basket and index credit default swaps ) Total credit default swap protection sold $ $ ) $ December 31, 2014 Weighted Maximum average Notional Fair future expected life amount value payments (in years) (in millions) Single name credit default swaps Corporate debt AAA $ $ $ AA A BBB BB Government/municipalities AA Sovereign AA BBB ) Total single name credit default swaps Basket and index credit default swaps Corporate debt Near default (1) ) Government/municipalities AA ) Structured finance BBB Total basket and index credit default swaps ) Total credit default swap protection sold $ $ ) $ (1) Includes $78.0 million as of both September 30, 2015 and December 31, 2014, notional of derivatives in consolidated collateralized private investment vehicle VIEs where the credit risk is borne by third party investors. We also have invested in fixed maturities classified as trading that contain credit default swaps. These securities are subject to the credit risk of the issuer, normally a special purpose vehicle, which consists of the underlying credit default swaps and high quality fixed maturities that serve as collateral. A default event occurs if the cumulative losses exceed a specified attachment point, which is typically not the first loss of the portfolio. If a default event occurs that exceeds the specified attachment point, our investment may not be fully returned. We would have no future potential payments under these investments. The following tables show, by the types of referenced/underlying asset class and external rating, our fixed maturities with embedded credit derivatives. September 30, 2015 Weighted average Amortized Carrying expected life cost value (in years) (in millions) Corporate debt A $ $ Total corporate debt Structured finance A BB CCC Total structured finance Total fixed maturities with credit derivatives $ $ December 31, 2014 Weighted average Amortized Carrying expected life cost value (in years) (in millions) Corporate debt A $ $ Total corporate debt Structured finance A BB CCC Total structured finance Total fixed maturities with credit derivatives $ $ Fair Value Hedges We use fixed-to-floating rate interest rate swaps to more closely align the interest rate characteristics of certain assets and 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. We enter into currency exchange swap agreements to convert certain foreign denominated assets and liabilities into U.S. dollar floating-rate denominated 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 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 related hedged item for the derivatives for the three months three months ended Derivatives in fair value hedging ended September 30, (1) Hedged items in fair value September 30, (1) relationships 2015 2014 hedging relationships 2015 2014 (in millions) (in millions) Interest rate contracts $ ) $ Fixed maturities, available-for-sale $ $ ) Interest rate contracts ) Investment-type insurance contracts ) Foreign exchange contracts — Fixed maturities, available-for-sale — ) Total $ ) $ Total $ $ ) Amount of loss Amount of gain recognized in net income on recognized in net income on related hedged item for the derivatives for the nine months for the nine months Derivatives in fair value hedging ended September 30, (1) Hedged items in fair value ended September 30, (1) relationships 2015 2014 hedging relationships 2015 2014 (in millions) (in millions) Interest rate contracts $ $ Fixed maturities, available-for-sale $ ) $ ) Interest rate contracts Investment-type insurance contracts ) ) Foreign exchange contracts Fixed maturities, available-for-sale ) ) Foreign exchange contracts — Investment-type insurance contracts — ) Total $ $ Total $ ) $ ) (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 three Amount of gain (loss) for the months ended September 30, nine months ended September 30, Hedged item 2015 2014 2015 2014 (in millions) Fixed maturities, available-for-sale (1) $ ) $ ) $ ) $ ) Investment-type insurance contracts (2) (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. Cash Flow Hedges We utilize 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 4.7 years. At September 30, 2015, we had $53.1 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 $0.0 million and $0.0 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 the nine months ended September 30, 2015 and 2014, 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) Derivatives in cash for the three months ended reclassified from AOCI for the three months ended flow hedging September 30, into net income September 30, relationships Related hedged item 2015 2014 (effective portion) 2015 2014 (in millions) (in millions) Interest rate contracts Fixed maturities, available-for-sale $ $ Net investment income $ $ Interest rate contracts Investment-type insurance contracts Benefits, claims and settlement expenses — — Interest rate contracts Debt — — Operating expense ) ) Foreign exchange contracts Fixed maturities, available-for-sale Net realized capital gains Foreign exchange contracts Investment-type insurance contracts ) Benefits, claims and settlement expenses — — Total $ $ Total $ $ 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) Derivatives in cash for the nine months ended reclassified from AOCI for the nine months ended flow hedging September 30, into net income September 30, relationships Related hedged item 2015 2014 (effective portion) 2015 2014 (in millions) (in millions) Interest rate contracts Fixed maturities, available-for-sale $ $ Net investment income $ $ Interest rate contracts Investment-type insurance contracts Benefits, claims and settlement expenses — — Interest rate contracts Debt — — Operating expense ) ) Foreign exchange contracts Fixed maturities, available-for-sale Net realized capital gains (losses) ) Foreign exchange contracts Investment-type insurance contracts ) Benefits, claims and settlement expenses — — Total $ $ Total $ $ ) 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 Amount of gain (loss) for the three months ended September 30, nine months ended September 30, Hedged item 2015 2014 2015 2014 (in millions) Fixed maturities, available-for-sale (1) $ $ $ $ Investment-type insurance contracts (2) ) ) ) ) (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 foreign currency contracts in cash flow hedging relationships was $0.0 million and $0.1 million for the three months ended September 30, 2015 and 2014, respectively. The net gain (loss) resulting from the ineffective portion of foreign currency contracts in cash flow hedging relationships was $0.1 million and $0.0 million for the nine months ended September 30, 2015 and 2014, respectively. We expect to reclassify net losses of $(1.3) 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. Net Investment Hedges We may take measures to hedge our net equity investments in our foreign operations from currency risk. This is accomplished with the use of currency forwards. Gains and losses associated with net investment hedges are recorded in AOCI and will be released into earnings if our investment in the foreign operation is sold or substantially liquidated. The following table shows the effect of derivatives in net investment hedging relationships on the consolidated statements of financial position. All gains or losses on derivatives were included in the assessment of hedge effectiveness. Amount of gain Amount of gain recognized in AOCI on recognized in AOCI on derivatives (effective portion) derivatives (effective portion) for the three months ended for the nine months ended September 30, September 30, Derivatives in net investment hedging relationships 2015 2014 2015 2014 (in millions) Foreign exchange contracts $ $ — $ $ — Total $ $ — $ $ — We did not have any ineffectiveness and did not reclassify any gains or losses from AOCI into net income related to our net investment hedges for the three and nine months ended September 30, 2015 and 2014. Derivatives Not Designated as Hedging Instruments Our use of futures, certain swaptions and s

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2015
Long-Term Debt
Long-Term Debt	5. Long-Term Debt The components of long-term debt were as follows: September 30, 2015 December 31, 2014 (in millions) 1.85% notes payable, due 2017 $ $ 8.875% notes payable, due 2019 3.3% notes payable, due 2022 3.125% notes payable, due 2023 3.4% notes payable, due in 2025 — 6.05% notes payable, due 2036 4.625% notes payable, due 2042 4.35% notes payable, due 2043 4.7% notes payable, due 2055 — Non-recourse mortgages and notes payable Total long-term debt $ $ The amounts included above are net of the discount and premium associated with issuing these notes, which are being amortized to expense over the respective terms using the interest method. 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 our series A and series B preferred stock with the remainder available for general corporate purposes.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2015
Income Taxes
Income Taxes	6. Income Taxes The effective income tax rate for the three months ended September 30, 2015, was lower than the U.S. corporate income tax rate of 35% (“U.S. statutory rate”) primarily due to income tax deductions allowed for corporate dividends received and the presentation of taxes on our share of earnings generated from equity method investments reflected in net investment income . The effective income tax rate for the three months ended September 30, 2014, was higher than the U.S. statutory rate primarily due to an increase in net deferred tax liabilities resulting from the third quarter 2014 enactment of tax legislation in Chile, partially offset by income tax deductions allowed for corporate dividends received, the presentation of taxes on our share of earnings generated from equity method investments reflected in net investment income and lower tax rates of foreign jurisdictions. The effective income tax rate for the nine months ended September 30, 2015, was lower than the U.S. statutory rate primarily due to income tax deductions allowed for corporate dividends received, a change in deferred tax balances related to the merger of two of our Chilean legal entities and the presentation of taxes on our share of earnings generated from equity method investments reflected in net investment income, partially offset by the negative impact of a court ruling on some uncertain tax positions. The effective income tax rate for the nine months ended September 30, 2014, was lower than the U.S. statutory rate primarily due to income tax deductions allowed for corporate dividends received, the presentation of taxes on our share of earnings generated from equity method investments reflected in net investment income and tax credits, partially offset by an increase in net deferred tax liabilities resulting from the third quarter 2014 enactment of tax legislation in Chile. We are a U.S. shareholder in various foreign entities classified as controlled foreign corporations (“CFCs”) for U.S. tax purposes. U.S. shareholders of CFCs are generally required to take into account as gross income in the U.S. certain passive income earned by the CFCs (“Subpart F income”) even if the income is not currently distributed. Temporary exceptions (the “active financing” and “look through” exceptions) were applicable for tax years beginning before January 1, 2015 to avoid the current recognition of Subpart F income derived in either the active conduct of a banking, financing, insurance or similar business or for certain payments between related corporations in different foreign jurisdictions. The U.S. Congress and the President have yet to enact extenders legislation as of September 30, 2015. Therefore, current tax expense has increased by an immaterial amount associated with the U.S. recognition of Subpart F income from our foreign operations. We will reverse any tax expense subject to the active financing and look through exceptions during the fourth quarter, assuming the legislation is enacted in 2015 retroactive to January 1, 2015. The U.S. Court of Federal Claims denied cross-motions for partial summary judgment on February 4, 2015, and ordered a trial on the previously taxed income issue in the case of Principal Life Insurance Company and Subsidiaries (“Principal Life”) v. the United States. Previously, in the same case, the court had ruled against Principal Life’s tax treatment of transactions involving the purchase and sale of principal-only certificates. These recent events caused re-evaluation of all our pending uncertain tax positions. The overall re-evaluation resulted in a $30.3 million reduction in net income in the first quarter of 2015. We do not believe there is a reasonable possibility the total amount of uncertain tax benefits will significantly increase or decrease in the next twelve months. Unrecognized Tax Benefits A summary of the changes in unrecognized tax benefits follows: For the nine months ended For the year ended September 30, 2015 December 31, 2014 (in millions) Balance at beginning of period $ $ Additions based on tax positions related to the current year Additions for tax positions of prior years Reductions for tax positions related to the current year ) ) Reductions for tax positions of prior years ) ) Settlements — ) Balance at end of period (1) $ $ (1) Of this amount, $81.0 million, if recognized, would reduce the 2015 effective income tax rate. We recognize interest and penalties related to uncertain tax positions in operating expenses. As of September 30, 2015 and December 31, 2014, we had recognized $137.4 million and $100.4 million of accumulated pre-tax interest and penalties related to unrecognized tax benefits, respectively.

Employee and Agent Benefits

Employee and Agent Benefits	9 Months Ended
	Sep. 30, 2015
Employee and Agent Benefits
Employee and Agent Benefits	7. Employee and Agent Benefits Components of Net Periodic Benefit Cost Other postretirement Pension benefits benefits For the three months ended For the three months ended September 30, September 30, 2015 2014 2015 2014 (in millions) Service cost $ $ $ $ Interest cost Expected return on plan assets ) ) ) ) Amortization of prior service benefit ) ) ) ) Recognized net actuarial (gain) loss ) ) Net periodic benefit cost (income) $ $ $ ) $ ) Other postretirement Pension benefits benefits For the nine months ended For the nine months ended September 30, September 30, 2015 2014 2015 2014 (in millions) Service cost $ $ $ $ Interest cost Expected return on plan assets ) ) ) ) Amortization of prior service benefit ) ) ) ) Recognized net actuarial (gain) loss ) ) Net periodic benefit cost (income) $ $ $ ) $ ) Contributions Our funding policy for our qualified pension plan is to fund the plan annually in an amount 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 federal income tax purposes. The minimum annual contribution for 2015 will be zero so we will not be required to fund our qualified pension plan during 2015. However, it is possible that we may fund the qualified and nonqualified pension plans in 2015 for a combined total of up to $150.0 million. During the three and nine months ended September 30, 2015, we contributed $25.2 million and $67.8 million to these plans, respectively.

Contingencies, Guarantees and I

Contingencies, Guarantees and Indemnifications	9 Months Ended
	Sep. 30, 2015
Contingencies, Guarantees and Indemnifications
Contingencies, Guarantees and Indemnifications	8. 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, the Department of Labor and other regulatory agencies 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. On March 18, 2014, McCaffree Financial Corp. Employee Retirement Program (“McCaffree”) filed a putative class action lawsuit in the United States District Court for the Southern District of Iowa against Principal Life. The complaint alleged, among other things, breach of duty of loyalty, breach of duty of prudence and prohibited transactions under ERISA. McCaffree seeks a nationwide class action on behalf of all participants and beneficiaries of defined contribution retirement plans that invested in any Principal Separate Account in the last six years. McCaffree seeks disgorgement of all fees it alleges Principal Life improperly retained in addition to other general claims for relief. Principal Life filed a motion to dismiss the case and on December 11, 2014, the court granted the motion. McCaffree filed a notice of appeal on December 22, 2014. Principal Life will continue to aggressively defend the case. On August 29, 2013, American Chemicals & Equipment, Inc. 401(k) Retirement Plan (“ACE”) filed a lawsuit in the United States District Court for the Northern District of Alabama against Principal Management Corporation and Principal Global Investors, LLC (the “ACE Defendants”). The lawsuit alleges the ACE Defendants breached their fiduciary duty under Section 36(b) of the Investment Company Act by charging excessive fees on certain of the LifeTime series target date funds. On January 24, 2014, the court granted the motion filed by the ACE Defendants to transfer the case to the Southern District of Iowa. The case is set for trial on April 11, 2016. The ACE Defendants continue to aggressively defend the lawsuit. In 2008, Principal Life received approximately $440.0 million in connection with the termination of certain structured transactions and the resulting prepayment of Principal Life’s investment in those transactions. The transactions involved Lehman Brothers Special Financing Inc. and Lehman Brothers Holdings Inc. (collectively, “Lehman”) in various capacities. Subsequent to Lehman’s 2008 bankruptcy filing, its bankruptcy estate initiated several lawsuits seeking to recover from numerous sources significant amounts to which it claims entitlement under various theories. We are one of a large group of defendants to this action, and believe that we have meritorious defenses to Lehman’s claims and intend to aggressively defend against them. The estate’s claim against Principal Life, including interest through November 2014 (which we also dispute), was approximately $550.0 million. While the outcome of any pending or future litigation or regulatory matter cannot be predicted, management does not believe that any such matter will have a material adverse effect on our business or financial position. As of September 30, 2015, there were no estimated losses accrued related to the legal matters discussed above because we believe the loss from these matters is not probable and cannot be reasonably estimated. We believe all of the litigation contingencies discussed above involve a chance of loss that is either remote or reasonably possible. Unless otherwise noted, all of these matters involve unspecified claim amounts, in which the respective plaintiffs seek an indeterminate amount of damages. To the extent such matters present a reasonably possible chance of loss, we are generally not able to estimate the possible loss or range of loss associated therewith. The outcome of such matters is always uncertain, and unforeseen results can occur. It is possible that such outcomes could require us to pay damages or make other expenditures or establish accruals in amounts that we could not estimate at September 30, 2015. Guarantees and Indemnifications In the normal course of business, we have provided guarantees to third parties primarily related to former subsidiaries and joint ventures. These agreements generally expire through 2019. The maximum exposure under these agreements as of September 30, 2015 , was approximately $205.0 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 that 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. 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.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2015
Stockholders' Equity
Stockholders' Equity	9. Stockholders’ Equity Reconciliation of Outstanding Shares Series A Series B Common preferred stock preferred stock stock (in millions) Outstanding shares at January 1, 2014 Shares issued — — Treasury stock acquired — — ) Outstanding shares at September 30, 2014 Outstanding shares at January 1, 2015 Shares issued — — Treasury stock acquired — — ) Preferred stock redemption ) ) — Outstanding shares at September 30, 2015 — — On June 30, 2015 we redeemed our 3.0 million shares of series A preferred stock for $250.0 million and our 10.0 million shares of series B preferred stock for $300.0 million. At redemption, we recognized $8.2 million excess redemption value over carrying value of the preferred shares redeemed as an adjustment to determine net income available to common stockholders. In February 2013, 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 2014. In February 2014, our Board of Directors authorized a share repurchase program of up to $200.0 million of our outstanding common stock, which was completed in March 2015. In February 2015, our Board of Directors authorized a share repurchase program of up to $150.0 million of our outstanding common stock. 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 three months ended For the nine months ended September 30, 2015 September 30, 2015 Pre-Tax Tax After-Tax Pre-Tax Tax After-Tax (in millions) Net unrealized losses on available-for-sale securities during the period $ ) $ $ ) $ ) $ $ ) Reclassification adjustment for (gains) losses included in net income (1) ) ) ) Adjustments for assumed changes in amortization patterns ) ) Adjustments for assumed changes in policyholder liabilities ) ) Net unrealized gains (losses) on available-for-sale securities ) ) ) Noncredit component of impairment losses on fixed maturities, available-for-sale during the period ) ) Adjustments for assumed changes in amortization patterns — — — ) ) Adjustments for assumed changes in policyholder liabilities ) ) Noncredit component of impairment losses on fixed maturities, available-for-sale (2) ) ) Net unrealized gains on derivative instruments during the period ) ) Reclassification adjustment for gains included in net income (3) ) ) ) ) Adjustments for assumed changes in amortization patterns ) ) Adjustments for assumed changes in policyholder liabilities ) ) ) ) Net unrealized gains on derivative instruments ) ) Foreign currency translation adjustment ) ) ) ) Amortization of prior service cost and actuarial loss included in net periodic benefit cost (4) ) ) Net unrecognized postretirement benefit obligation ) ) Other comprehensive loss $ ) $ $ ) $ ) $ $ ) For the three months ended For the nine months ended September 30, 2014 September 30, 2014 Pre-Tax Tax After-Tax Pre-Tax Tax After-Tax (in millions) Net unrealized gains (losses) on available-for-sale securities during the period $ ) $ $ ) $ $ ) $ Reclassification adjustment for (gains) losses included in net income (1) ) ) ) Adjustments for assumed changes in amortization patterns ) ) ) Adjustments for assumed changes in policyholder liabilities ) ) ) Net unrealized gains (losses) on available-for-sale securities ) ) ) Noncredit component of impairment losses on fixed maturities, available-for-sale during the period ) ) Adjustments for assumed changes in amortization patterns ) ) ) Adjustments for assumed changes in policyholder liabilities ) ) ) ) Noncredit component of impairment losses on fixed maturities, available-for-sale (2) ) ) Net unrealized gains on derivative instruments during the period ) ) Reclassification adjustment for (gains) losses included in net income (3) ) ) ) Adjustments for assumed changes in amortization patterns ) ) ) ) Adjustments for assumed changes in policyholder liabilities ) ) Net unrealized gains on derivative instruments ) ) Foreign currency translation adjustment ) ) ) ) Amortization of prior service cost and actuarial loss included in net periodic benefit cost (4) ) ) Net unrecognized postretirement benefit obligation ) ) Other comprehensive income (loss) $ ) $ $ ) $ $ ) $ (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 4, Derivative Financial Instruments — Cash Flow Hedges, for further details. (4) Pre-tax amortization of prior service cost and actuarial loss included in net periodic benefit cost, which is comprised of amortization of prior service cost (benefit) and recognized net actuarial (gain) loss, is reported in operating expenses on the consolidated statements of operations. See Note 7, 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 (losses) on currency postretirement other available-for-sale on fixed maturities derivative translation benefit comprehensive securities available-for-sale instruments adjustment obligation income (loss) (in millions) Balances at January 1, 2014 $ $ ) $ ) $ ) $ ) $ Other comprehensive income during the period, net of adjustments — ) — Amounts reclassified from AOCI ) — Other comprehensive income ) Balances at September 30, 2014 $ $ ) $ $ ) $ ) $ Balances at January 1, 2015 $ $ ) $ $ ) $ ) $ Other comprehensive loss during the period, net of adjustments ) — ) — ) Amounts reclassified from AOCI ) ) — Other comprehensive loss ) ) ) Purchase of subsidiary shares from noncontrolling interest — — — ) — ) Balances at September 30, 2015 $ $ ) $ $ ) $ ) $ ) 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 presented on the consolidated statements of financial position line item titled “Redeemable noncontrolling interest.” If the interest were to be redeemed, we would be required to purchase such interest at a redemption value based on fair value or a formula that management intended to reasonably approximate fair value based on a fixed multiple of earnings over a measurement period. As such, 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): Balance at January 1, 2014 $ Net income attributable to redeemable noncontrolling interest Contributions from redeemable noncontrolling interest Distributions to redeemable noncontrolling interest ) Purchase of subsidiary shares from redeemable noncontrolling interest (1) ) Change in redemption value of redeemable noncontrolling interest Foreign currency translation adjustment ) Balance at September 30, 2014 $ Balance at January 1, 2015 $ Net income attributable to redeemable noncontrolling interest Contributions from redeemable noncontrolling interest Distributions to redeemable noncontrolling interest ) Purchase of subsidiary shares from redeemable noncontrolling interest ) Change in redemption value of redeemable noncontrolling interest Foreign currency translation adjustment ) Balance at September 30, 2015 $ (1) During the third quarter of 2014, we increased our ownership stake in Columbus Circle Investors.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2015
Fair Value Measurements
Fair Value Measurements	10. 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-type insurance 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, derivatives and other investments for which public quotations are not available but that are priced by third party pricing services or internal models using substantially all observable inputs. Our level 2 assets also include commercial mortgage loan investments of consolidated VIEs for which the fair value option was elected. · Level 3 — Fair values are based on at least one significant unobservable input for the asset or liability. Our Level 3 assets and liabilities include certain assets and liabilities priced using broker quotes or other valuation methods that utilize at least one significant unobservable input. These include fixed maturities, private equity securities, real estate and commercial mortgage loan investments of our separate accounts, obligations of consolidated VIEs for which the fair value option was elected, complex derivatives, embedded derivatives and equity method real estate investments for which the fair value option was elected. 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 values 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. Beginning in 2015 a measurement alternative is used for consolidated collateralized financing entities (“CCFEs”) utilizing the more observable of the fair value of the financial assets or the financial liabilities for both the financial assets and financial liabilities. We did not make any other significant changes to our valuation processes during 2015. Fixed Maturities Fixed maturities include bonds, ABS, redeemable preferred stock and certain nonredeemable 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 where 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 actually 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, which are reflected in Level 3 and can include fixed maturities across all asset classes. As of September 30, 2015, less than 1% of our fixed maturities were valued using internal pricing models, which were classified as Level 3 assets accordingly. 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 recently 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. Treasury 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, nonredeemable preferred stock and regulatory required 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 net asset value (“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 such that their fair value is not reflected in the consolidated statements of financial position. The fair values of derivative instruments cleared through centralized clearinghouses 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. 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 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 a limited number of complex inflation-linked interest rate swaps, interest rate collars 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 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 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. In addition, we have a limited number of total return swaps that are valued based on the observable quoted price of underlying equity indices. These are reflected in Level 2. Other Investments Other investments reported at fair value include seed money investments, other investment funds, commercial mortgage loans of consolidated VIEs and equity method real estate investments for which the fair value option was elected. The fair value of seed money and other investment funds is determined using the NAV of the fund. The NAV of the fund represents the price at which we feel we would be able to initiate a transaction. Seed money investments in mutual funds for which the NAV represents a quoted price in an active market for identical assets are reflected in Level 1. Seed money investments in mutual funds that do not have a quoted price in an active market and other investment funds, which are relatively illiquid due to restrictions on sale, are reflected in Level 2. Commercial mortgage loans of consolidated VIEs valued using the measurement alternative for CCFEs are reflected in Level 2. These investments are based on the more observable fair value of the liabilities of the consolidated VIEs. Prior to 2015, commercial mortgage loans of consolidated VIEs for which the fair value option was elected were reflected in Level 3. The fair value of the commercial mortgage loans was computed utilizing a discount rate based on the current market. The market discount rate was then adjusted based on various factors that differentiate it from our pool of loans. 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. Cash and 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 less than three months. 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 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-Type Insurance Contracts Certain annuity contracts and other investment-type insurance contracts include embedded derivatives that have been bifurcated from the host contract and that 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-type insurance contracts and any embedded derivatives bifurcated from certain annuity and investment-type insurance contracts is based on the current market credit spreads for debt-like instruments that 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. Additionally, obligations of consolidated VIEs for which the fair value option was elected are included in other liabilities. The VIEs’ obligations are valued either based on prices obtained from third party pricing vendors which are reflected in Level 2, or internal pricing models, which are 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 are summarized below. September 30, 2015 Assets/ (liabilities) Fair value hierarchy level measured at fair value Level 1 Level 2 Level 3 (in millions) Assets Fixed maturities, available-for-sale: U.S. government and agencies $ $ $ $ — Non-U.S. governments States and political subdivisions — — Corporate Residential mortgage-backed securities — — Commercial mortgage-backed securities — Collateralized debt obligations — Other debt obligations — Total fixed maturities, available-for-sale Fixed maturities, trading Equity securities, available-for-sale Equity securities, trading — Derivative assets (1) — Other investments (2) Cash equivalents (3) — — Sub-total excluding separate account assets Separate account assets Total assets $ $ $ $ Liabilities Investment-type insurance contracts (4) $ ) $ — $ — $ ) Derivative liabilities (1) ) — ) ) Other liabilities (4) ) — ) ) Total liabilities $ ) $ — $ ) $ ) Net assets $ $ $ $ December 31, 2014 Assets/ (liabilities) Fair value hierarchy level measured at fair value Level 1 Level 2 Level 3 (in millions) Assets Fixed maturities, available-for-sale: U.S. government and agencies $ $ $ $ — Non-U.S. governments — States and political subdivisions — — Corporate Residential mortgage-backed securities — — Commercial mortgage-backed securities — — Collateralized debt obligations — Other debt obligations — Total fixed maturities, available-for-sale Fixed maturities, trading — Equity securities, available-for-sale Equity securities, trading — Derivative assets (1) — Other investments (2) Cash equivalents (3) — — Sub-total excluding separate account assets Separate account assets Total assets $ $ $ $ Liabilities Investment-type insurance contracts (4) $ ) $ — $ — $ ) Derivative liabilities (1) ) — ) ) Other liabilities (4) ) — ) ) Total liabilities $ ) $ — $ ) $ ) Net assets $ $ $ $ (1) Within the consolidated statements of financial position, derivative assets are reported with other investments and derivative liabilities are reported with other liabilities. Refer to Note 4, Derivative Financial Instruments, for further information on fair value by class of derivative instruments. Our derivatives are primarily Level 2, with the exception of certain credit default swaps and other swaps that are Level 3. (2) Primarily includes seed money investments, other investment funds, commercial mortgage loans of consolidated VIEs and equity method investments reported at fair value. (3) Includes money market instruments and short-term investments with a maturity date of three months or less when purchased. (4) Includes bifurcated embedded derivatives that are reported at fair value within the same line item in the consolidated statements of financial position in which the host contract is reported. Other liabilities also include obligations of consolidated VIEs reported at fair value. 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) are summarized as follows: For the three months ended September 30, 2015 Total realized/unrealized Changes in Beginning gains (losses) Net Ending unrealized asset/ purchases, asset/ gains (losses) (liability) sales, (liability) included in balance Included in issuances balance net income as of Included in other and Transfers Transfers as of relating to June 30, net income comprehensive settlements into out of September 30, positions still 2015 (1) income (4) Level 3 Level 3 2015 held (1) (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ $ ) $ $ $ — $ — $ $ ) Corporate ) ) ) ) Commercial mortgage-backed securities — — — — — Collateralized debt obligations — ) — — — Other debt obligations — — ) — Total fixed maturities, available-for-sale ) ) ) ) Fixed maturities, trading ) — — — — ) Equity securities, available-for-sale — — — — — — Derivative assets — — — — Other investments — — — Separate account assets (2) — ) ) Liabilities Investment-type insurance contracts ) ) — — — ) ) Derivative liabilities ) ) — — — ) ) Other liabilities (3) ) — — — — ) For the three months ended September 30, 2014 Total realized/unrealized Changes in Beginning gains (losses) Net Ending unrealized asset/ purchases, asset/ gains (losses) (liability) sales, (liability) included in balance Included in Included in issuances balance net income as of net other and Transfers Transfers as of relating to June 30, income comprehensive settlements into out of September 30, positions still 2014 (1) income (4) Level 3 Level 3 2014 held (1) (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ $ — $ ) $ $ — $ — $ $ — States and political subdivisions — — — — — — Corporate ) ) — ) Commercial mortgage-backed securities ) ) ) Collateralized debt obligations — — ) — Other debt obligations — — ) — — — Total fixed maturities, available-for-sale ) ) ) ) Fixed maturities, trading — ) — — Equity securities, available-for-sale ) — — — ) Derivative assets ) — — — ) Other investments — ) — — Separate account assets (2) ) ) Liabilities Investment-type insurance contracts ) ) — — — ) ) Derivative liabilities ) ) ) — — ) ) Other liabilities (3) ) — — — ) For the nine months ended September 30, 2015 Total realized/unrealized Changes in Beginning gains (losses) Net Ending unrealized asset/ purchases, asset/ gains (losses) (liability) sales, (liability) included in balance Included Included in issuances balance net income as of in net other and Transfers Transfers as of relating to December 31, income comprehensive settlements into out of September 30, positions still 2014 (1) income (4) Level 3 Level 3 2015 held (1) (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ $ ) $ $ $ — $ — $ $ ) Corporate ) ) ) ) Commercial mortgage-backed securities — — — — — Collateralized debt obligations ) ) — — — Other debt obligations — — ) — Total fixed maturities, available-for-sale ) ) ) ) Fixed maturities, trading ) — ) — — ) Equity securities, available-for-sale — — — — — — Derivative assets ) — — — ) Other investments — ) — ) Separate account assets (2) — ) Liabilities Investment-type insurance contracts ) ) — — — ) ) Derivative liabilities ) ) — — ) ) Other liabilities (3) ) — — — — ) For the nine months ended September 30, 2014 Total realized/unrealized Changes in Beginning gains (losses) Net Ending unrealized asset/ purchases, asset/ gains (losses) (liability) sales, (liability) included in balance Included Included in issuances balance net income as of in net other and Transfers Transfers as of relating to December 31, income comprehensive settlements into out of September 30, positions still 2013 (1) income (4) Level 3 Level 3 2014 held (1) (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ $ ) $ ) $ ) $ — $ — $ $ ) States and political subdivisions — — ) — — — Corporate ) ) ) ) Commercial mortgage-backed securities ) ) ) ) Collateralized debt obligations — — ) — Other debt obligations — ) — ) — Total fixed maturities, available-for-sale ) ) ) Fixed maturities, trading — ) — — Equity securities, available-for-sale ) — — ) Derivative assets ) — — — ) Other investments — ) — — Separate account assets (2) ) ) Liabilities Investment-type insurance contracts ) ) — — — ) ) Derivative liabilities ) — — ) ) Other liabilities (3) ) — — — ) (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 fixed maturities, trading and certain derivatives used in relation to certain trading portfolios 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) Certain embedded derivatives reported in other liabilities are part of a cash flow hedge, with the effective portion of the unrealized gains (losses) recorded in AOCI. (4) Gross purchases, sales, issuances and settlements were: For the three months ended September 30, 2015 Net purchases, sales, issuances Purchases Sales Issuances Settlements and settlements (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ $ — $ — $ ) $ Corporate — — ) Commercial mortgage-backed securities — — — Collateralized debt obligations — — — ) ) Other debt obligations — — ) Total fixed maturities, available-for-sale — — ) Other investments — — — Separate account assets (5) ) ) ) Liabilities Investment-type insurance contracts — — For the three months ended September 30, 2014 Net purchases, sales, issuances Purchases Sales Issuances Settlements and settlements (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ $ — $ — $ ) $ Corporate ) — ) Commercial mortgage-backed securities — — — Collateralized debt obligations — — ) Other debt obligations — — — ) ) Total fixed maturities, available-for-sale ) — ) Fixed maturities, trading — ) — ) ) Derivative assets — — — Other investments — — — ) ) Separate account assets (5) ) ) Liabilities Investment-type insurance contracts — — Derivative liabilities ) — — Other liabilities — — — For the nine months ended September 30, 2015 Net purchases, sales, issuances Purchases Sales Issuances Settlements and settlements (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ $ — $ — $ ) $ Corporate ) — ) Commercial mortgage-backed securities — — — Collateralized debt obligations — — — ) ) Other debt obligations — — ) Total fixed maturities, available-for-sale ) — ) Fixed maturities, trading — ) — ) Derivative assets ) — — Other investments ) — — ) Separate account assets (5) ) ) Liabilities Investment-type insurance contracts — — Derivative liabilities — — — For the nine months ended September 30, 2014 Net purchases, sales, issuances Purchases Sales Issuances Settlements and settlements (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ $ ) $ — $ ) $ ) States and political subdivisions — — — ) ) Corporate ) — ) Commercial mortgage-backed securities — — — ) ) Collateralized debt obligations — — ) Other debt obligations — — — ) ) Total fixed maturities, available-for-sale ) — ) Fixed maturities, trading — ) — ) ) Derivative assets — — — Other investments — — ) ) Separate account assets (5) ) ) Liabilities Investment-type insurance contracts — — Derivative liabilities ) — — Other liabilities — — — (5) Issuances and settlements include amounts related to mortgage encumbrances associated with real estate in our separate accounts. Transfers Transfers of assets and liabilities measured at fair value on a recurring basis between fair value hierarchy levels are summarized below. For the three months ended September 30, 2015 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: Corporate $ — $ — $ — $ $ — $ Other debt obligations — — — — — Total fixed maturities, available-for-sale — — — — Other investments — — — — — Separate account assets — — For the three months ended September 30, 2014 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: Corporate $ — $ — $ — $ $ — $ — Commercial mortgage-backed securities — — — — Collateralized debt obligations — — — — — Total fixed maturities, available-for-sale — — — — Separate account assets — — For the nine months September 30, 2015 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: Corporate $ — $ — $ — $ $ — $ Other debt obligations — — — — — Total fixed maturities, available-for-sale — — — — Other investments — — — — Separate account assets — — For the nine months September 30, 2014 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: Corporate $ — $ — $ — $ $ — $ Commercial mortgage-backed securities — — — — Collateralized debt obligations — — — — — Other debt obligations — — — — — Total fixed maturities, available-for-sale — — — — Equity securities, available-for-sale — — — — — Separate account assets — — Transfers between fair value hierarchy levels are recognized at the beginning of the reporting period. Assets transferred from Level 2 into Level 1 for the three and nine months ended September 30, 2015, primarily included assets valued using a NAV with a quoted price in an active market for identical assets as a result of additional analysis to clarify the source of the quoted price. A

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2015
Segment Information
Segment Information	11. Segment Information We provide financial products and services through the following segments: Retirement and Investor Services, 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 Investor Services segment provides retirement and related financial products and services primarily to businesses, their employees and other individuals. The Principal Global Investors segment provides asset management services to our asset accumulation business, our insurance operations, the Corporate segment and third party clients. The Principal International segment has operations in Brazil, Chile, China, Hong Kong Special Administrative Region, India, Mexico and Southeast Asia. We focus on countries with large middle classes, favorable demographics and growing long-term savings, ideally with defined contribution markets. We entered these countries through acquisitions, start-up operations and joint ventures. The U.S. Insurance Solutions segment provides individual life insurance and specialty benefits insurance, which consists of group dental and vision insurance, individual and group disability insurance, group life insurance and non-medical fee-for-service claims administration, throughout the United States. The 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 interest expense and preferred stock dividends), income on capital not allocated to other segments, inter-segment eliminations, income tax risks and certain income, expenses and other after-tax adjustments not allocated to the segments based on the nature of such items. Results of our exited group medical insurance business are reported in this segment. As described in Note 1, Nature of Operations and Significant Accounting Policies, planned changes to our organizational structure will be reflected in our December 31, 2015, Form 10-K. Management uses segment operating earnings in goal setting, as a basis for determining employee compensation and in evaluating performance on a basis comparable to that used by securities analysts. We determine segment operating earnings by adjusting U.S. GAAP net income for net realized capital gains (losses), as adjusted, and other after-tax adjustments which management believes are not indicative of overall operating trends. Net realized capital gains (losses), as adjusted, are net of income taxes, related changes in the amortization pattern of DAC and related actuarial balances, recognition of deferred front-end fee revenues for sales charges on retirement and life insurance products and services, amortization of hedge accounting book value adjustments for certain discontinued hedges, net realized capital gains and losses distributed, noncontrolling interest capital gains and losses, certain adjustments related to seed money and certain market value adjustments to fee revenues. Net realized capital gains (losses), as adjusted, exclude periodic settlements and accruals on derivative instruments not designated as hedging instruments and exclude certain market value adjustments of embedded derivatives and realized capital gains (losses) associated with our exited group medical insurance business. Segment operating revenues exclude net realized capital gains (losses) (except periodic settlements and accruals on derivatives not designated as hedging instruments), including their impact on recognition of front-end fee revenues, certain market value adjustments to fee revenues and amortization of hedge accounting book value adjustments for certain discontinued hedges, certain adjustments related to seed money and revenue from our exited group medical insurance business. Segment operating revenues include operating revenues from real estate properties that qualify for discontinued operations. While these items may be significant components in understanding and assessing the consolidated financial performance, management believes the presentation of segment operating earnings enhances the understanding of our results of operations by highlighting earnings attributable to the normal, ongoing operations of the business. The accounting policies of the segments are consistent with the accounting policies for the consolidated financial statements, with the exception of income tax allocation. The Corporate segment functions to absorb the risk inherent in interpreting and applying tax law. 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 and reconcile segment totals to those reported in the consolidated financial statements: September 30, 2015 December 31, 2014 (in millions) Assets: Retirement and Investor Services $ $ Principal Global Investors Principal International U.S. Insurance Solutions Corporate Total consolidated assets $ $ For the three months ended For the nine months ended September 30, September 30, 2015 2014 2015 2014 (in millions) Operating revenues by segment: Retirement and Investor Services $ $ $ $ Principal Global Investors Principal International U.S. Insurance Solutions Corporate ) ) ) ) Total segment operating revenues Net realized capital gains (losses), net of related revenue adjustments ) ) ) Other income on a tax indemnification — — — Exited group medical insurance business ) — Total revenues per consolidated statements of operations $ $ $ $ Operating earnings (loss) by segment, net of related income taxes: Retirement and Investor Services $ $ $ $ Principal Global Investors Principal International U.S. Insurance Solutions Corporate ) ) ) ) Total segment operating earnings, net of related income taxes Net realized capital losses, as adjusted (1) ) ) ) ) Other after-tax adjustments (2) ) ) ) Net income available to common stockholders per consolidated statements of operations $ $ $ $ (1) Net realized capital gains (losses), as adjusted, is derived as follows: For the three months ended For the nine months ended September 30, September 30, 2015 2014 2015 2014 (in millions) Net realized capital gains (losses): Net realized capital gains (losses) $ $ ) $ ) $ Certain derivative and hedging-related adjustments ) ) ) ) Certain market value adjustments to fee revenues — — ) — Certain adjustments related to seed money — — Recognition of front-end fee (revenue) expense — Net realized capital gains (losses), net of related revenue adjustments ) ) ) Amortization of deferred acquisition costs and other actuarial balances ) ) ) ) Capital (gains) losses distributed ) ) Certain market value adjustments of embedded derivatives ) ) Net realized capital losses associated with exited group medical insurance business — — Noncontrolling interest capital gains ) ) ) ) Income tax effect ) Net realized capital losses, as adjusted $ ) $ ) $ ) $ ) (2) For the three months ended September 30, 2015, other after-tax adjustments included the negative effect of losses associated with our exited group medical insurance business that did not qualify for discontinued operations accounting treatment under U.S. GAAP. For the three months ended September 30, 2014, other after-tax adjustments included the negative effect of an increase in net deferred tax liabilities resulting from the third quarter 2014 enactment of tax legislation in Chile ($58.1 million) and the positive effect of gains associated with our exited group medical insurance business that did not qualify for discontinued operations accounting treatment under U.S. GAAP ($0.3 million). For the nine months ended September 30, 2015, other after-tax adjustments included the positive effect of a change in deferred tax balances related to the merger of two of our Chilean legal entities ($105.2 million) and the negative effect of: (1) the impact of a court ruling on some uncertain tax positions ($30.3 million) and (2) losses associated with our exited group medical insurance business that did not qualify for discontinued operations accounting treatment under U.S. GAAP ($0.3 million). For the nine months ended September 30, 2014, other after-tax adjustments included the negative effect of: (a) an increase in net deferred tax liabilities resulting from the third quarter 2014 enactment of tax legislation in Chile ($58.1 million); (b) the impact of a court ruling on some uncertain tax positions ($47.5 million) and (c) losses associated with our exited group medical insurance business that did not qualify for discontinued operations accounting treatment under U.S. GAAP ($0.3 million). The following table summarizes operating revenues for our products and services: For the three months ended For the nine months ended September 30, September 30, 2015 2014 2015 2014 (in millions) Retirement and Investor Services: Full service accumulation $ $ $ $ Principal Funds Individual annuities Bank and trust services Eliminations ) ) ) ) Total Accumulation Investment only Full service payout Total Guaranteed Total Retirement and Investor Services Principal Global Investors (1) Principal International U.S. Insurance Solutions: Individual life insurance Specialty benefits insurance Eliminations — — ) ) Total U.S. Insurance Solutions Corporate ) ) ) ) Total operating revenues $ $ $ $ Total operating revenues $ $ $ $ Net realized capital gains (losses), net of related revenue adjustments ) ) ) Other income on a tax indemnification — — — Exited group medical insurance business ) — Total revenues per consolidated statements of operations $ $ $ $ (1) Reflects inter-segment revenues of $76.1 million and $71.0 million for the three months ended September 30, 2015 and 2014, respectively, and $237.7 million and $214.4 million for the nine months ended September 30, 2015 and 2014, respectively.

Stock-Based Compensation Plans

Stock-Based Compensation Plans	9 Months Ended
	Sep. 30, 2015
Stock-Based Compensation Plans
Stock-Based Compensation Plans	12. Stock-Based Compensation Plans As of September 30, 2015, we have the 2014 Stock Incentive Plan, the Employee Stock Purchase Plan, the 2014 Directors Stock Plan, the Long-Term Performance 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, the Directors Stock Plan or the Long-Term Performance 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 September 30, 2015, the maximum number of new shares of common stock that were available for grant under the 2014 Stock Incentive Plan and the 2014 Directors Stock Plan was 12.0 million. For awards with graded vesting, we use an accelerated expense attribution method. The compensation cost that was charged against income for stock-based awards granted under the Stock-Based Compensation Plans was as follows: For the nine months ended September 30, 2015 2014 (in millions) Compensation cost $ $ Related income tax benefit Capitalized as part of an asset Nonqualified Stock Options Nonqualified stock options were granted to certain employees under the 2014 Stock Incentive Plan. Total options granted were 0.6 million for the nine months ended September 30, 2015. 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 nine months ended September 30, 2015 Expected volatility % Expected term (in years) Risk-free interest rate % Expected dividend yield % Weighted average estimated fair value per common share $ As of September 30, 2015, we had $5.5 million of total unrecognized compensation cost related to nonvested stock options. The cost is expected to be recognized over a weighted-average service period of approximately 1.4 years. Performance Share Awards Performance share awards were granted to certain employees under the 2014 Stock Incentive Plan. Total performance share awards granted were 0.3 million for the nine months ended September 30, 2015. The performance share awards granted represent initial target awards and do not reflect potential increases or decreases resulting from the final performance results to be determined at the end of the performance period. The actual number of common 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 these performance share awards granted was $51.33 per common share. As of September 30, 2015, we had $9.6 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. Restricted Stock Units Restricted stock units were issued to certain employees and agents pursuant to the 2014 Stock Incentive Plan and non-employee directors pursuant to the 2015 Directors Stock Plan. Total restricted stock units granted were 0.9 million for the nine months ended September 30, 2015. 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 these restricted stock units granted was $51.35 per common share. As of September 30, 2015, we had $54.6 million of total unrecognized compensation cost related to nonvested restricted stock unit awards granted. The cost is expected to be recognized over a weighted-average period of approximately 1.8 years. Employee Stock Purchase Plan Under the Employee Stock Purchase Plan, employees purchased 0.3 million shares for the nine months ended September 30, 2015. The weighted average fair value of the discount on the stock purchased was $7.69 per share. As of September 30, 2015, a total of 4.4 million of new shares are available to be made issuable by us for this plan.

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Common Share
Earnings Per Common Share	13. Earnings Per Common Share The computations of the basic and diluted per share amounts were as follows: For the three months ended For the nine months ended September 30, September 30, 2015 2014 2015 2014 (in millions, except per share data) Net income $ $ $ $ Subtract: Net income attributable to noncontrolling interest Preferred stock dividends — Excess of redemption value over carrying value of preferred shares redeemed — — — Adjustments to redemption amounts of redeemable noncontrolling interests — — Total $ $ $ $ Weighted-average shares outstanding: Basic Dilutive effects: Stock options Restricted stock units Performance share awards Diluted Net income per common share: Basic $ $ $ $ Diluted $ $ $ $ The calculation of diluted earnings per share for the three and nine months ended September 30, 2015 and 2014, excludes the incremental effect related to certain outstanding stock-based compensation grants due to their anti-dilutive effect.

Condensed Consolidating Financi

Condensed Consolidating Financial Information	9 Months Ended
	Sep. 30, 2015
Condensed Consolidating Financial Information
Condensed Consolidating Financial Information	14. 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) Principal Financial Services, Inc. (“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 September 30, 2015 and December 31, 2014, and for the nine months ended September 30, 2015 and 2014. 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. Condensed Consolidating Statements of Financial Position September 30, 2015 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) Assets Fixed maturities, available-for-sale $ — $ $ $ ) $ Fixed maturities, trading — — Equity securities, available-for-sale — — Equity securities, trading — — Mortgage loans — ) Real estate — — Policy loans — — Investment in unconsolidated entities ) Other investments ) Cash and cash equivalents ) Accrued investment income — ) Premiums due and other receivables — ) Deferred acquisition costs — — Property and equipment — — Goodwill — — Other intangibles — — Separate account assets — — Other assets ) Total assets $ $ $ $ ) $ Liabilities Contractholder funds $ — $ $ $ ) $ Future policy benefits and claims — ) Other policyholder funds — ) Short-term debt — — — Long-term debt — ) Income taxes currently payable — ) Deferred income taxes — ) Separate account liabilities — — Other liabilities ) Total liabilities ) Redeemable noncontrolling interest — — — Stockholders’ equity Common stock — ) Additional paid-in capital ) Retained earnings ) Accumulated other comprehensive income (loss) ) ) ) ) Treasury stock, at cost ) — — — ) Total stockholders’ equity attributable to PFG ) Noncontrolling interest — — ) Total stockholders’ equity ) Total liabilities and stockholders’ equity $ $ $ $ ) $ Condensed Consolidating Statements of Financial Position December 31, 2014 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) Assets Fixed maturities, available-for-sale $ — $ $ $ ) $ Fixed maturities, trading — — Equity securities, available-for-sale — — Equity securities, trading — — Mortgage loans — ) Real estate — — Policy loans — — Investment in unconsolidated entities ) Other investments ) Cash and cash equivalents ) Accrued investment income — ) Premiums due and other receivables — ) Deferred acquisition costs — — Property and equipment — — Goodwill — — Other intangibles — — Separate account assets — — Other assets ) Total assets $ $ $ $ ) $ Liabilities Contractholder funds $ — $ $ $ ) $ Future policy benefits and claims — ) Other policyholder funds — ) Short-term debt — — — Long-term debt — ) Income taxes currently payable — — ) Deferred income taxes — ) Separate account liabilities — — Other liabilities ) Total liabilities ) Redeemable noncontrolling interest — — — Stockholders’ equity Series A preferred stock — — — — — Series B preferred stock — — — Common stock — ) Additional paid-in capital ) Retained earnings ) Accumulated other comprehensive income ) Treasury stock, at cost ) — — — ) Total stockholders’ equity attributable to PFG ) Noncontrolling interest — — ) Total stockholders’ equity ) Total liabilities and stockholders’ equity $ $ $ $ ) $ Condensed Consolidating Statements of Operations For the nine months ended September 30, 2015 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 $ — $ $ $ — $ Fees and other revenues — ) Net investment income ) Net realized capital gains (losses), excluding impairment losses on available-for-sale securities — ) — Net other-than-temporary impairment recoveries on available-for-sale securities — — — Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified from other comprehensive income — ) ) — ) Net impairment losses on available-for-sale securities — ) ) — ) Net realized capital gains (losses) — ) — ) Total revenues ) Expenses Benefits, claims and settlement expenses — ) Dividends to policyholders — — — Operating expenses ) Total expenses ) Income (loss) before income taxes ) ) Income taxes (benefits) ) ) Equity in the net income (loss) of subsidiaries ) ) — Net income ) Net income attributable to noncontrolling interest — — — Net income attributable to PFG ) Preferred stock dividends — — — Excess of redemption value over carrying value of preferred shares redeemed — — — Net income available to common stockholders $ $ $ $ ) $ Net income $ $ $ $ ) $ Other comprehensive loss ) ) ) ) Comprehensive income $ $ $ $ ) $ Condensed Consolidating Statements of Operations For the nine months ended September 30, 2014 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 $ — $ $ $ — $ Fees and other revenues — ) Net investment income ) Net realized capital gains (losses), excluding impairment losses on available-for-sale securities — ) — Net other-than-temporary impairment (losses) recoveries on available-for-sale securities — ) — Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified to (from) other comprehensive income — ) — ) Net impairment losses on available-for-sale securities — ) ) — ) Net realized capital gains (losses) — ) — Total revenues ) Expenses Benefits, claims and settlement expenses — ) Dividends to policyholders — — — Operating expenses ) Total expenses ) Income (loss) before income taxes ) ) Income taxes (benefits) ) ) Equity in the net income (loss) of subsidiaries ) ) — Net income ) Net income attributable to noncontrolling interest — — — Net income attributable to PFG ) Preferred stock dividends — — — Net income available to common stockholders $ $ $ $ ) $ Net income $ $ $ $ ) $ Other comprehensive income ) Comprehensive income $ $ $ $ ) $ Condensed Consolidating Statements of Cash Flows For the nine months ended September 30, 2015 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 $ ) $ $ $ $ Investing activities Available-for-sale securities: Purchases — ) ) ) Sales — — Maturities — — Mortgage loans acquired or originated — ) ) ) Mortgage loans sold or repaid — ) Real estate acquired — ) ) — ) Net purchases of property and equipment — ) ) — ) Purchases of interests in subsidiaries, net of cash acquired — — ) — ) Dividends and returns of capital received from (contributed to) unconsolidated entities ) ) — Net change in other investments ) ) ) Net cash provided by (used in) investing activities ) ) ) ) Financing activities Issuance of common stock — — — Acquisition of treasury stock ) — — — ) Proceeds from financing element derivatives — — — Payments for financing element derivatives — ) — — ) Excess tax benefits from share-based payment arrangements — Purchase of subsidiary shares from noncontrolling interest — — ) ) Sale of subsidiary shares to noncontrolling interest — — ) — Dividends to common stockholders ) — — — ) Dividends to preferred stockholders ) — — — ) Preferred stock redemption ) — — — ) Issuance of long-term debt — ) Principal repayments of long-term debt — — ) ) Net proceeds from short-term borrowings — — — Dividends and capital paid to parent — ) ) — Investment contract deposits — — Investment contract withdrawals — ) ) — ) Net increase in banking operation deposits — — — Other — ) — — ) Net cash provided by (used in) financing activities ) ) ) Net increase in cash and cash equivalents ) Cash and cash equivalents at beginning of period ) Cash and cash equivalents at end of period $ $ $ $ ) $ Condensed Consolidating Statements of Cash Flows For the nine months ended September 30, 2014 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 $ ) $ $ $ $ Investing activities Available-for-sale securities: Purchases — ) ) ) Sales — — Maturities — — Mortgage loans acquired or originated — ) ) ) Mortgage loans sold or repaid — ) Real estate acquired — ) ) — ) Net purchases of property and equipment — ) ) — ) Dividends and returns of capital received from unconsolidated entities ) — Net change in other investments ) ) Net cash provided by (used in) investing activities ) ) ) Financing activities Issuance of common stock ) — Acquisition of treasury stock ) — — — ) Proceeds from financing element derivatives — — — Payments for financing element derivatives — ) — — ) Excess tax benefits from share-based payment arrangements — Purchase of subsidiary shares from noncontrolling interest — — ) ) Sale of subsidiary shares to noncontrolling interest — — ) — Dividends to common stockholders ) — — — ) Dividends to preferred stockholders ) — — — ) Issuance of long-term debt — — ) Principal repayments of long-term debt — ) ) ) Net repayments of short-term borrowings — — ) — ) Dividends and capital paid to parent — ) ) — Investment contract deposits — — Investment contract withdrawals — ) ) — ) Net decrease in banking operation deposits — — ) — ) Other — ) — ) Net cash used in financing activities ) ) ) ) Net increase (decrease) in cash and cash equivalents ) ) ) Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period $ $ $ $ $ On May 7, 2014, our shelf registration statement was filed with the SEC and became effective replacing the shelf registration that had been in effect since May 2011. Under our current shelf registration, 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, depository shares, stock purchase contracts and stock purchase units of PFG, trust preferred securities of three subsidiary trusts and guarantees by PFG of these trust preferred securities. 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 September 30, 2015 and December 31, 2014, and for the nine months ended September 30, 2015 and 2014. 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. Condensed Consolidating Statements of Financial Position September 30, 2015 Principal Life Principal Principal Insurance Company Principal Financial Financial and Other Financial Group, Inc. Services, Inc. Subsidiaries Group, Inc. Parent Only Only Combined Eliminations Consolidated (in millions) Assets Fixed maturities, available-for-sale $ — $ — $ $ — $ Fixed maturities, trading — — — Equity securities, available-for-sale — — — Equity securities, trading — — Mortgage loans — — — Real estate — — — Policy loans — — — Investment in unconsolidated entities ) Other investments — Cash and cash equivalents ) Accrued investment income — — Premiums due and other receivables — ) Deferred acquisition costs — — — Property and equipment — — — Goodwill — — — Other intangibles — — — Separate account assets — — — Other assets ) Total assets $ $ $ $ ) $ Liabilities Contractholder funds $ — $ — $ $ — $ Future policy benefits and claims — — — Other policyholder funds — — — Short-term debt — — ) Long-term debt ) Income taxes currently payable — — ) Deferred income taxes — ) Separate account liabilities — — — Other liabilities ) Total liabilities ) Redeemable noncontrolling interest — — — Stockholders’ equity Common stock — ) Additional paid-in capital ) Retained earnings ) Accumulated other comprehensive loss ) ) ) ) Treasury stock, at cost ) — ) ) Total stockholders’ equity attributable to PFG ) Noncontrolling interest — — — Total stockholders’ equity ) Total liabilities and stockholders’ equity $ $ $ $ ) $ Condensed Consolidating Statements of Financial Position December 31, 2014 Principal Life Principal Principal Insurance Company Principal Financial Financial and Other Financial Group, Inc. Services, Inc. Subsidiaries Group, Inc. Parent Only Only Combined Eliminations Consolidated (in millions) Assets Fixed maturities, available-for-sale $ — $ — $ $ — $ Fixed maturities, trading — — — Equity securities, available-for-sale — — — Equity securities, trading — — — Mortgage loans — — — Real estate — — — Policy loans — — — Investment in unconsolidated entities ) Other investments — Cash and cash equivalents ) Accrued investment income — — — Premiums due and other receivables — Deferred acquisition costs — — — Property and equipment — — — Goodwill — — — Other intangibles — — — Separate account assets — — — Other assets ) Total assets $ $ $ $ ) $ Liabilities Contractholder funds $ — $ — $ $ — $ Future policy benefits and claims — — — Other policyholder funds — — — Short-term debt — — ) Long-term debt — — Income taxes currently payable — ) Deferred income taxes — — ) Separate account liabilities — — — Other liabilities ) Total liabilities ) Redeemable noncontrolling interest — — — Stockholders’ equity Series A preferred stock — — — — — Series B preferred stock — — — Common stock — ) Additional paid-in capital ) Retained earnings ) Accumulated other comprehensive income ) Treasury stock, at cost ) — ) ) Total stockholders’ equity attributable to PFG ) Noncontrolling interest — — — Total stockholders’ equity ) Total liabilities and stockholders’ equity $ $ $ $ ) $ Condensed Consolidating Statements of Operations For the nine months ended September 30, 2015 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 $ — $ — $ $ — $ Fees and other revenues — ) Net investment income — Net realized capital gains (losses), excluding impairment losses on available-for-sale securities — ) ) Net other-than-temporary impairment recoveries on available-for-sale securities — — — Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified from other comprehensive income — — ) — ) Net impairment losses on available-for-sale securities — — ) — ) Net realized capital losses — ) ) ) ) Total revenues ) Expenses Benefits, claims and settlement expenses — — — Dividends to policyholders — — — Operating expenses — Total expenses — Income (loss) before income taxes ) ) Income taxes (benefits) ) — Equity in the net income of subsidiaries — ) — Net income ) Net income attributable to noncontrolling interest — — — Net income attributable to PFG ) Preferred stock dividends — — — Excess of redemption value over carrying value of preferred shares redeemed — — — Net income available to common stockholders $ $ $ $ ) $ Net income $ $ $ $ ) $ Other comprehensive loss ) ) ) ) Comprehensive income $ $ $ $ ) $ Condensed Consolidating Statements of Operations For the nine months ended September 30, 2014 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 $ — $ — $ $ — $ Fees and other revenues — — Net investment income — Net realized capital gains, excluding impairment losses on available-for-sale securities — — — Net other-than-temporary impairment recoveries on available-for-sale securities — — — Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified from other comprehensive income — — ) — ) Net impairment losses on available-for-sale securities — — ) — ) Net realized capital gains — — — Total revenues — Expenses Benefits, claims and settlement expenses — — — Dividends to policyholders — — — Operating expenses — Total expenses — Income (loss) before income taxes ) ) — Income taxes (benefits) ) ) — Equity in the net income of subsidiaries — ) — Net income ) Net income attributable to noncontrolling interest — — — Net income attributable to PFG ) Preferred stock dividends — — — Net income available to common stockholders $ $ $ $ ) $ Net income $ $ $ $ ) $ Other comprehensive income ) Comprehensive income $ $ $ $ ) $ Condensed Consolidating Statements of Cash Flows For the nine months ended September 30, 2015 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 $ ) $ $ $ ) $ Investing activities Available-for-sale securities: Purchases — — ) — ) Sales — — — Maturities — — — Mortgage loans acquired or originated — — ) — ) Mortgage loans sold or repaid — — — Real estate acquired — — ) — ) Net purchases of property and equipment — — ) — ) Purchases of interests in subsidiaries, net of cash acquired — — ) — ) Dividends and returns of capital received from unconsolidated entities — ) — Net change in other investments ) ) Net cash provided by (used in) investing activities ) ) ) ) Financing activities Issuance of common stock — — — Acquisition of treasury stock ) — — — ) Proceeds from financing element derivatives — — — Payments for financing element derivatives — — ) — ) Excess tax benefits from share-based payment arrangements — — Purchase of subsidiary shares from noncontrolling interest — — ) — ) Dividends to common stockholders ) — — — ) Dividends to preferred stockholders ) — — — ) Preferred stock redemption ) — — — ) Issuance of long-term debt ) Principal repayments of long-term debt — — ) ) Net proceeds from short-term borrowings — — Dividends and capital paid to parent — ) ) — Investment contract deposits — — — Investment contract withdrawals — — ) — ) Net increase in banking operation deposits — — — Other — — ) — ) Net cash used in financing activities ) ) ) ) Net increase (decrease) in cash and cash equivalents ) ) Cash and cash equivalents at beginning of period ) Cash and cash equivalents at end of period $ $ $ $ ) $ Condensed Consolidating Statements of Cash Flows For the nine months ended September 30, 2014 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 $ ) $ ) $ $ $ Investing activities Available-for-sale securities: Purchases — — ) — ) Sales — — — Maturities — — — Mortgage loans acquired or originated — — ) — ) Mortgage loans sold or repaid — — — Real estate acquired — — ) — ) Net purchases of property and equipment — — ) — ) Dividends and returns of capital received from unconsolidated entities — ) — Net change in other investments ) ) ) Net cash provided by (used in) investing activities ) ) ) Financing activities Issuance of common stock — — — Acquisition of treasury stock ) — — — ) Proceeds from financing element derivatives — — — Payments for financing element derivatives — — ) — ) Excess tax benefits from share-based payment arrangements — — Purchase of subsidiary shares from noncontrolling interest — — ) — ) Dividends to common stockholders ) — — — ) Dividends to preferred stockholders ) — — — ) Issuance of long-term debt — — — Principal repayments of long-term debt — — ) — ) Net repayments of short-term borrowings — — ) ) Dividends and capital paid to parent — ) ) — Investment contract deposits — — — Investment contract withdrawals — — ) — ) Net decrease in banking operation deposits — — ) — ) Other — — ) — ) Net cash used in financing activities ) ) ) ) Net increase (decrease) in cash and cash equivalents ) ) ) Cash and cash equivalents at beginning of period ) Cash and cash equivalents at end of period $ $ $ $ ) $

Nature of Operations and Sign23

Nature of Operations and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Nature of Operations and Significant Accounting Policies
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. At September 30, 2015 and December 31, 2014, the separate account assets include a separate account valued at $173.3 million and $205.4 million, respectively, which primarily includes 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.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2015
Variable Interest Entities
Carrying Amounts of Assets and Liabilities of Consolidated Variable Interest Entities (Table)	Collateralized private Mandatory Grantor investment retirement trusts vehicles CMBS savings Real estate Total (in millions) September 30, 2015 Fixed maturities, available-for-sale $ $ — $ — $ — $ — $ Fixed maturities, trading — — — — Equity securities, available-for-sale — — — — Equity securities, trading — — — — Real estate — — — — Other investments — — — Cash — — — — Accrued investment income — — Premiums due and other receivables — — — — Separate account assets — — — — Other assets — — — — ) ) Total assets $ $ $ $ $ $ Contractholder funds $ — $ — $ — $ $ — $ Long-term debt — — — — Income taxes currently payable — — — — ) ) Deferred income taxes — — — ) Separate account liabilities — — — — Other liabilities (1) — — Total liabilities $ $ $ — $ $ $ December 31, 2014 Fixed maturities, available-for-sale $ $ — $ — $ — $ — $ Fixed maturities, trading — — — — Equity securities, trading — — — — Real estate — — — — Other investments — — — Cash — — — — Accrued investment income — — Separate account assets — — — — Other assets — — — — Total assets $ $ $ $ $ $ Long-term debt $ — $ — $ — $ — $ $ Income taxes currently payable — — — — Deferred income taxes — — — ) Separate account liabilities — — — — Other liabilities (1) — Total liabilities $ $ $ $ $ $ (1) Grantor trusts contain an embedded derivative of a forecasted transaction to deliver the underlying securities; the collateralized private investment vehicle includes derivative liabilities and an obligation to redeem notes at maturity or termination of the trusts.
Asset Carrying Value and Maximum Loss Exposure of Unconsolidated Variable Interest Entities (Table)	Maximum exposure to Asset carrying value loss (1) (in millions) September 30, 2015 Fixed maturities, available-for-sale: Corporate $ $ Residential mortgage-backed pass-through securities Commercial mortgage-backed securities Collateralized debt obligations Other debt obligations Fixed maturities, trading: Residential mortgage-backed pass-through securities Commercial mortgage-backed securities Collateralized debt obligations Other investments: Other limited partnership and fund interests December 31, 2014 Fixed maturities, available-for-sale: Corporate $ $ Residential mortgage-backed pass-through securities Commercial mortgage-backed securities Collateralized debt obligations Other debt obligations Fixed maturities, trading: Residential mortgage-backed pass-through securities Commercial mortgage-backed securities Collateralized debt obligations Other debt obligations Other investments: Other limited partnership and fund interests (1) Our risk of loss is limited to our initial investment measured at amortized cost for fixed maturities, available-for-sale and other investments. Our risk of loss is limited to our investment measured at fair value for our fixed maturities, trading.

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2015
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) September 30, 2015 Fixed maturities, available-for-sale: U.S. government and agencies $ $ $ $ $ — Non-U.S. governments — States and political subdivisions — Corporate Residential mortgage-backed pass-through securities — Commercial mortgage-backed securities Collateralized debt obligations Other debt obligations Total fixed maturities, available-for-sale $ $ $ $ $ Total equity securities, available-for-sale $ $ $ $ December 31, 2014 Fixed maturities, available-for-sale: U.S. government and agencies $ $ $ $ $ — Non-U.S. governments — States and political subdivisions — Corporate Residential mortgage-backed pass-through securities — Commercial mortgage-backed securities Collateralized debt obligations Other debt obligations Total fixed maturities, available-for-sale $ $ $ $ $ Total equity securities, available-for-sale $ $ $ $ (1) Excludes $144.5 million and $167.5 million as of September 30, 2015 and December 31, 2014, 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.
Fixed Maturities Available-for-Sale by Contractual Maturity (Table)	Amortized cost Fair value (in millions) Due in one year or less $ $ Due after one year through five years Due after five years through ten years Due after ten years Subtotal Mortgage-backed and other asset-backed securities Total $ $
Net Realized Capital Gains and Losses (Table)	For the three months ended For the nine months ended September 30, September 30, 2015 2014 2015 2014 (in millions) Fixed maturities, available-for-sale: Gross gains $ $ $ $ Gross losses ) ) ) ) Net impairment losses ) ) ) ) Hedging, net ) ) ) Fixed maturities, trading ) ) Equity securities, available-for-sale: Gross gains — Gross losses ) ) ) ) Net impairment recoveries (losses) — ) Equity securities, trading ) ) Mortgage loans ) ) ) ) Derivatives ) Other ) ) Net realized capital gains (losses) $ $ ) $ ) $
Other-Than-Temporary Impairment Losses, Net of Recoveries (Table)	For the three months ended For the nine months ended September 30, September 30, 2015 2014 2015 2014 (in millions) Fixed maturities, available-for-sale $ ) $ ) $ $ Equity securities, available-for-sale — ) Total other-than-temporary impairment losses, net of recoveries from the sale of previously impaired securities ) ) Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified from OCI (1) ) ) ) ) Net impairment losses on available-for-sale securities $ ) $ ) $ ) $ ) (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 three months ended For the nine months ended September 30, September 30, 2015 2014 2015 2014 (in millions) Beginning balance $ ) $ ) $ ) $ ) Credit losses for which an other-than-temporary impairment was not previously recognized ) ) ) ) Credit losses for which an other-than-temporary impairment was previously recognized ) ) ) ) Reduction for credit losses previously recognized on fixed maturities now sold, paid down or intended to be sold Net reduction for positive changes in cash flows expected to be collected and amortization (1) Foreign currency translation adjustment — — Ending balance $ ) $ ) $ ) $ ) (1) Amounts are recognized in net investment income.
Gross Unrealized Losses for Fixed Maturities and Equity Securities (Table)	September 30, 2015 Less than Greater than or twelve months equal to 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 $ $ $ $ $ $ Non-U.S. governments States and political subdivisions Corporate Residential mortgage-backed pass-through securities Commercial mortgage-backed securities Collateralized debt obligations Other debt obligations Total fixed maturities, available-for-sale $ $ $ $ $ $ Total equity securities, available-for-sale $ $ $ $ $ $ December 31, 2014 Less than Greater than or twelve months equal to 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 $ $ $ $ $ $ Non-U.S. governments States and political subdivisions Corporate Residential mortgage-backed pass-through securities — Commercial mortgage-backed securities Collateralized debt obligations Other debt obligations Total fixed maturities, available-for-sale $ $ $ $ $ $ Total equity securities, available-for-sale $ $ — $ $ $ $
Net Unrealized Gains and Losses on Available-for-Sale Securities and Derivative Instruments (Table)	September 30, 2015 December 31, 2014 (in millions) Net unrealized gains on fixed maturities, available-for-sale (1) $ $ Noncredit component of impairment losses on fixed maturities, available-for-sale ) ) Net unrealized losses on equity securities, available-for-sale ) ) Adjustments for assumed changes in amortization patterns ) ) Adjustments for assumed changes in policyholder liabilities ) ) Net unrealized gains on derivative instruments Net unrealized gains on equity method subsidiaries and noncontrolling interest adjustments Provision for deferred income taxes ) ) Net unrealized gains on available-for-sale securities and derivative instruments $ $ (1) Excludes net unrealized gains (losses) on fixed maturities, available-for-sale included in fair value hedging relationships.
Mortgage Loans (Table)	September 30, 2015 December 31, 2014 (in millions) Commercial mortgage loans $ $ Residential mortgage loans Total amortized cost Valuation allowance ) ) Total carrying value $ $
Commercial Mortgage Loans by Geographic Distribution and Property Type Distribution (Table)	September 30, 2015 December 31, 2014 Amortized Percent Amortized Percent cost of total cost of total ($ in millions) Geographic distribution New England $ % $ % Middle Atlantic East North Central West North Central South Atlantic East South Central West South Central Mountain Pacific International Total $ % $ % Property type distribution Office $ % $ % Retail Industrial Apartments Hotel Mixed use/other Total $ % $ %
Commercial Mortgage Loan Portfolio by Credit Risk (Table)	September 30, 2015 Brick and mortar CTL Total (in millions) A- and above $ $ $ BBB+ thru BBB- BB+ thru BB- B+ and below Total $ $ $ December 31, 2014 Brick and mortar CTL Total (in millions) A- and above $ $ $ BBB+ thru BBB- BB+ thru BB- — B+ and below Total $ $ $
Performing and Non-Performing Residential Mortgage Loans (Table)	September 30, 2015 Home equity First liens Total (in millions) Performing $ $ $ Nonperforming Total $ $ $ December 31, 2014 Home equity First liens Total (in millions) Performing $ $ $ Nonperforming Total $ $ $
Non-Accrual Mortgage Loans (Table)	September 30, 2015 December 31, 2014 (in millions) Commercial: Brick and mortar $ $ Residential: Home equity First liens Total $ $
Mortgage Loans Aging (Table)	September 30, 2015 Recorded investment 90 days or 90 days or 30-59 days 60-89 days more past Total past more and past due past due due due Current Total loans accruing (in millions) Commercial-brick and mortar $ $ — $ $ $ $ $ — Commercial-CTL — — — — — Residential-home equity — Residential-first liens Total $ $ $ $ $ $ $ December 31, 2014 Recorded investment 90 days or 90 days or 30-59 days 60-89 days more past Total past more and past due past due due due Current Total loans accruing (in millions) Commercial-brick and mortar $ — $ $ $ $ $ $ — Commercial-CTL — — — — — Residential-home equity — Residential-first liens Total $ $ $ $ $ $ $
Mortgage Loan Valuation Allowance (Table)	For the three months ended September 30, 2015 Commercial Residential Total (in millions) Beginning balance $ $ $ Provision ) Charge-offs — ) ) Recoveries — Effect of exchange rates — ) ) Ending balance $ $ $ For the nine months ended September 30, 2015 Commercial Residential Total (in millions) Beginning balance $ $ $ Provision Charge-offs — ) ) Recoveries Effect of exchange rates — ) ) Ending balance $ $ $ Allowance ending balance by basis of impairment method: Individually evaluated for impairment $ $ $ Collectively evaluated for impairment Allowance ending balance $ $ $ Loan balance by basis of impairment method: Individually evaluated for impairment $ $ $ Collectively evaluated for impairment Loan ending balance $ $ $ For the three months ended September 30, 2014 Commercial Residential Total (in millions) Beginning balance $ $ $ Provision Charge-offs — ) ) Recoveries — Ending balance $ $ $ For the nine months ended September 30, 2014 Commercial Residential Total (in millions) Beginning balance $ $ $ Provision ) Charge-offs ) ) ) Recoveries — Effect of exchange rates — ) ) Ending balance $ $ $ Allowance ending balance by basis of impairment method: Individually evaluated for impairment $ $ $ Collectively evaluated for impairment Allowance ending balance $ $ $ Loan balance by basis of impairment method: Individually evaluated for impairment $ $ $ Collectively evaluated for impairment Loan ending balance $ $ $
Impaired Mortgage Loans (Table)	September 30, 2015 Unpaid Recorded principal Related investment balance allowance (in millions) With no related allowance recorded: Residential-first liens $ $ $ — With an allowance recorded: Commercial-brick and mortar Residential-home equity Residential-first liens Total: Commercial $ $ $ Residential $ $ $ December 31, 2014 Unpaid Recorded principal Related investment balance allowance (in millions) With no related allowance recorded: Commercial-brick and mortar $ $ $ — Residential-first liens — With an allowance recorded: Commercial-brick and mortar Residential-home equity Residential-first liens Total: Commercial $ $ $ Residential $ $ $ For the three months ended For the nine months ended September 30, 2015 September 30, 2015 Average Average recorded Interest income recorded Interest income investment recognized investment recognized (in millions) With no related allowance recorded: Commercial-brick and mortar $ — $ — $ $ — Residential-first liens — — With an allowance recorded: Commercial-brick and mortar — Residential-home equity Residential-first liens — Total: Commercial $ $ — $ $ Residential $ $ $ $ For the three months ended For the nine months ended September 30, 2014 September 30, 2014 Average Average recorded Interest income recorded Interest income investment recognized investment recognized (in millions) With no related allowance recorded: Commercial-brick and mortar $ $ — $ $ Residential-first liens — — With an allowance recorded: Commercial-brick and mortar Residential-home equity Residential-first liens — Total: Commercial $ $ $ $ Residential $ $ $ $
Mortgage Loans Modified as a Troubled Debt Restructuring (Table)	For the three months ended September 30, 2015 TDRs TDRs in payment default Number of Recorded Number of Recorded contracts investment contracts investment (in millions) (in millions) Residential-home equity $ — $ — Total $ — $ — For the three months ended September 30, 2014 TDRs TDRs in payment default Number of Recorded Number of Recorded contracts investment contracts investment (in millions) (in millions) Commercial-brick and mortar $ $ Residential-home equity — Total $ $ For the nine months ended September 30, 2015 TDRs TDRs in payment default Number of Recorded Number of Recorded contracts investment contracts investment (in millions) (in millions) Residential-home equity $ $ — Total $ $ — For the nine months ended September 30, 2014 TDRs TDRs in payment default Number of Recorded Number of Recorded contracts investment contracts investment (in millions) (in millions) Commercial-brick and mortar $ $ Residential-home equity — Residential-first liens — — Total $ $
Financial Assets Subject to Netting Agreements (Table)	Gross amounts not offset in the consolidated statements Gross amount of financial position of recognized Financial Collateral assets (1) instruments (2) received Net amount (in millions) September 30, 2015 Derivative assets $ $ ) $ ) $ Reverse repurchase agreements — ) — Total $ $ ) $ ) $ December 31, 2014 Derivative assets $ $ ) $ ) $ Reverse repurchase agreements — ) — Total $ $ ) $ ) $ (1) The gross amount of recognized derivative and reverse repurchase agreement assets are reported with other investments and cash and cash equivalents on the consolidated statements of financial position. The above excludes $1.1 million and $0.0 million of derivative assets as of September 30, 2015 and December 31, 2014, 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 Gross amount of financial position of recognized Financial Collateral liabilities (1) instruments (2) pledged Net amount (in millions) September 30, 2015 Derivative liabilities $ $ ) $ ) $ December 31, 2014 Derivative liabilities $ $ ) $ ) $ (1) The gross amount of recognized derivative liabilities are reported with other liabilities on the consolidated statements of financial position. The above excludes $458.7 million and $421.3 million of derivative liabilities as of September 30, 2015 and December 31, 2014, 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 Instrume26

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2015
Derivative Financial Instruments
Derivative Financial Instruments, Exposure (Table)	September 30, 2015 December 31, 2014 (in millions) Notional amounts of derivative instruments Interest rate contracts: Interest rate swaps $ $ Interest rate options Swaptions Interest rate futures Foreign exchange contracts: Currency swaps Currency forwards Equity contracts: Equity options Equity futures Credit contracts: Credit default swaps Total return swaps Futures Other contracts: Embedded derivatives Total notional amounts at end of period $ $ Credit exposure of derivative instruments Interest rate contracts: Interest rate swaps $ $ Interest rate options Foreign exchange contracts: Currency swaps Currency forwards Equity contracts: Equity options Credit contracts: Credit default swaps Total gross credit exposure Less: collateral received Net credit exposure $ $
Derivative Financial Instruments, Fair Value Disclosures (Table)	Derivative assets (1) Derivative liabilities (2) September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 (in millions) Derivatives designated as hedging instruments Interest rate contracts $ $ $ $ Foreign exchange contracts Total derivatives designated as hedging instruments $ $ $ $ Derivatives not designated as hedging instruments Interest rate contracts $ $ $ $ Foreign exchange contracts Equity contracts Credit contracts Other contracts — — Total derivatives not designated as hedging instruments Total derivative instruments $ $ $ $ (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 derivative liabilities with a fair value of $210.3 million and $176.4 million as of September 30, 2015 and December 31, 2014, respectively, are reported with contractholder funds on the consolidated statements of financial position.
Credit Derivatives Sold (Table)	September 30, 2015 Weighted Maximum average Notional Fair future expected life amount value payments (in years) (in millions) Single name credit default swaps Corporate debt AAA $ $ $ AA A BBB ) BB ) Government/municipalities AA Sovereign AA ) BBB ) Total single name credit default swaps Basket and index credit default swaps Corporate debt Near default (1) ) Government/municipalities AA ) Structured finance AAA Total basket and index credit default swaps ) Total credit default swap protection sold $ $ ) $ December 31, 2014 Weighted Maximum average Notional Fair future expected life amount value payments (in years) (in millions) Single name credit default swaps Corporate debt AAA $ $ $ AA A BBB BB Government/municipalities AA Sovereign AA BBB ) Total single name credit default swaps Basket and index credit default swaps Corporate debt Near default (1) ) Government/municipalities AA ) Structured finance BBB Total basket and index credit default swaps ) Total credit default swap protection sold $ $ ) $ (1) Includes $78.0 million as of both September 30, 2015 and December 31, 2014, notional of derivatives in consolidated collateralized private investment vehicle VIEs where the credit risk is borne by third party investors.
Hybrid Instruments (Table)	September 30, 2015 Weighted average Amortized Carrying expected life cost value (in years) (in millions) Corporate debt A $ $ Total corporate debt Structured finance A BB CCC Total structured finance Total fixed maturities with credit derivatives $ $ December 31, 2014 Weighted average Amortized Carrying expected life cost value (in years) (in millions) Corporate debt A $ $ Total corporate debt Structured finance A BB CCC Total structured finance Total fixed maturities with credit derivatives $ $
Fair Value Hedges (Table)	Amount of gain (loss) Amount of gain (loss) recognized in net income on recognized in net income on related hedged item for the derivatives for the three months three months ended Derivatives in fair value hedging ended September 30, (1) Hedged items in fair value September 30, (1) relationships 2015 2014 hedging relationships 2015 2014 (in millions) (in millions) Interest rate contracts $ ) $ Fixed maturities, available-for-sale $ $ ) Interest rate contracts ) Investment-type insurance contracts ) Foreign exchange contracts — Fixed maturities, available-for-sale — ) Total $ ) $ Total $ $ ) Amount of loss Amount of gain recognized in net income on recognized in net income on related hedged item for the derivatives for the nine months for the nine months Derivatives in fair value hedging ended September 30, (1) Hedged items in fair value ended September 30, (1) relationships 2015 2014 hedging relationships 2015 2014 (in millions) (in millions) Interest rate contracts $ $ Fixed maturities, available-for-sale $ ) $ ) Interest rate contracts Investment-type insurance contracts ) ) Foreign exchange contracts Fixed maturities, available-for-sale ) ) Foreign exchange contracts — Investment-type insurance contracts — ) Total $ $ Total $ ) $ ) (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 three Amount of gain (loss) for the months ended September 30, nine months ended September 30, Hedged item 2015 2014 2015 2014 (in millions) Fixed maturities, available-for-sale (1) $ ) $ ) $ ) $ ) Investment-type insurance contracts (2) (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.
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) Derivatives in cash for the three months ended reclassified from AOCI for the three months ended flow hedging September 30, into net income September 30, relationships Related hedged item 2015 2014 (effective portion) 2015 2014 (in millions) (in millions) Interest rate contracts Fixed maturities, available-for-sale $ $ Net investment income $ $ Interest rate contracts Investment-type insurance contracts Benefits, claims and settlement expenses — — Interest rate contracts Debt — — Operating expense ) ) Foreign exchange contracts Fixed maturities, available-for-sale Net realized capital gains Foreign exchange contracts Investment-type insurance contracts ) Benefits, claims and settlement expenses — — Total $ $ Total $ $ 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) Derivatives in cash for the nine months ended reclassified from AOCI for the nine months ended flow hedging September 30, into net income September 30, relationships Related hedged item 2015 2014 (effective portion) 2015 2014 (in millions) (in millions) Interest rate contracts Fixed maturities, available-for-sale $ $ Net investment income $ $ Interest rate contracts Investment-type insurance contracts Benefits, claims and settlement expenses — — Interest rate contracts Debt — — Operating expense ) ) Foreign exchange contracts Fixed maturities, available-for-sale Net realized capital gains (losses) ) Foreign exchange contracts Investment-type insurance contracts ) Benefits, claims and settlement expenses — — Total $ $ Total $ $ )
Cash Flow Hedges, Periodic Settlements Disclosures (Table)	Amount of gain (loss) for the Amount of gain (loss) for the three months ended September 30, nine months ended September 30, Hedged item 2015 2014 2015 2014 (in millions) Fixed maturities, available-for-sale (1) $ $ $ $ Investment-type insurance contracts (2) ) ) ) ) (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.
Net Investment Hedges (Table)	Amount of gain Amount of gain recognized in AOCI on recognized in AOCI on derivatives (effective portion) derivatives (effective portion) for the three months ended for the nine months ended September 30, September 30, Derivatives in net investment hedging relationships 2015 2014 2015 2014 (in millions) Foreign exchange contracts $ $ — $ $ — Total $ $ — $ $ —
Derivatives Not Designated as Hedging Instruments (Table)	Amount of gain (loss) recognized in Amount of gain (loss) recognized in net income on derivatives for the net income on derivatives for the three months ended September 30, nine months ended September 30, Derivatives not designated as hedging instruments 2015 2014 2015 2014 (in millions) Interest rate contracts $ $ $ $ Foreign exchange contracts ) ) ) ) Equity contracts Credit contracts ) ) ) Other contracts ) ) ) ) Total $ $ ) $ $ )

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2015
Long-Term Debt
Long-Term Debt (Table)	September 30, 2015 December 31, 2014 (in millions) 1.85% notes payable, due 2017 $ $ 8.875% notes payable, due 2019 3.3% notes payable, due 2022 3.125% notes payable, due 2023 3.4% notes payable, due in 2025 — 6.05% notes payable, due 2036 4.625% notes payable, due 2042 4.35% notes payable, due 2043 4.7% notes payable, due 2055 — Non-recourse mortgages and notes payable Total long-term debt $ $

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2015
Income Taxes
Changes in Unrecognized Tax Benefits (Table)	For the nine months ended For the year ended September 30, 2015 December 31, 2014 (in millions) Balance at beginning of period $ $ Additions based on tax positions related to the current year Additions for tax positions of prior years Reductions for tax positions related to the current year ) ) Reductions for tax positions of prior years ) ) Settlements — ) Balance at end of period (1) $ $ (1) Of this amount, $81.0 million, if recognized, would reduce the 2015 effective income tax rate. We recognize interest and penalties related to uncertain tax positions in operating expenses.

Employee and Agent Benefits (Ta

Employee and Agent Benefits (Tables)	9 Months Ended
	Sep. 30, 2015
Employee and Agent Benefits
Components of Net Periodic Benefit Cost (Income) (Table)	Other postretirement Pension benefits benefits For the three months ended For the three months ended September 30, September 30, 2015 2014 2015 2014 (in millions) Service cost $ $ $ $ Interest cost Expected return on plan assets ) ) ) ) Amortization of prior service benefit ) ) ) ) Recognized net actuarial (gain) loss ) ) Net periodic benefit cost (income) $ $ $ ) $ ) Other postretirement Pension benefits benefits For the nine months ended For the nine months ended September 30, September 30, 2015 2014 2015 2014 (in millions) Service cost $ $ $ $ Interest cost Expected return on plan assets ) ) ) ) Amortization of prior service benefit ) ) ) ) Recognized net actuarial (gain) loss ) ) Net periodic benefit cost (income) $ $ $ ) $ )

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2015
Stockholders' Equity
Reconciliation of Outstanding Shares (Table)	Series A Series B Common preferred stock preferred stock stock (in millions) Outstanding shares at January 1, 2014 Shares issued — — Treasury stock acquired — — ) Outstanding shares at September 30, 2014 Outstanding shares at January 1, 2015 Shares issued — — Treasury stock acquired — — ) Preferred stock redemption ) ) — Outstanding shares at September 30, 2015 — —
Other Comprehensive Income (Loss) (Table)	For the three months ended For the nine months ended September 30, 2015 September 30, 2015 Pre-Tax Tax After-Tax Pre-Tax Tax After-Tax (in millions) Net unrealized losses on available-for-sale securities during the period $ ) $ $ ) $ ) $ $ ) Reclassification adjustment for (gains) losses included in net income (1) ) ) ) Adjustments for assumed changes in amortization patterns ) ) Adjustments for assumed changes in policyholder liabilities ) ) Net unrealized gains (losses) on available-for-sale securities ) ) ) Noncredit component of impairment losses on fixed maturities, available-for-sale during the period ) ) Adjustments for assumed changes in amortization patterns — — — ) ) Adjustments for assumed changes in policyholder liabilities ) ) Noncredit component of impairment losses on fixed maturities, available-for-sale (2) ) ) Net unrealized gains on derivative instruments during the period ) ) Reclassification adjustment for gains included in net income (3) ) ) ) ) Adjustments for assumed changes in amortization patterns ) ) Adjustments for assumed changes in policyholder liabilities ) ) ) ) Net unrealized gains on derivative instruments ) ) Foreign currency translation adjustment ) ) ) ) Amortization of prior service cost and actuarial loss included in net periodic benefit cost (4) ) ) Net unrecognized postretirement benefit obligation ) ) Other comprehensive loss $ ) $ $ ) $ ) $ $ ) For the three months ended For the nine months ended September 30, 2014 September 30, 2014 Pre-Tax Tax After-Tax Pre-Tax Tax After-Tax (in millions) Net unrealized gains (losses) on available-for-sale securities during the period $ ) $ $ ) $ $ ) $ Reclassification adjustment for (gains) losses included in net income (1) ) ) ) Adjustments for assumed changes in amortization patterns ) ) ) Adjustments for assumed changes in policyholder liabilities ) ) ) Net unrealized gains (losses) on available-for-sale securities ) ) ) Noncredit component of impairment losses on fixed maturities, available-for-sale during the period ) ) Adjustments for assumed changes in amortization patterns ) ) ) Adjustments for assumed changes in policyholder liabilities ) ) ) ) Noncredit component of impairment losses on fixed maturities, available-for-sale (2) ) ) Net unrealized gains on derivative instruments during the period ) ) Reclassification adjustment for (gains) losses included in net income (3) ) ) ) Adjustments for assumed changes in amortization patterns ) ) ) ) Adjustments for assumed changes in policyholder liabilities ) ) Net unrealized gains on derivative instruments ) ) Foreign currency translation adjustment ) ) ) ) Amortization of prior service cost and actuarial loss included in net periodic benefit cost (4) ) ) Net unrecognized postretirement benefit obligation ) ) Other comprehensive income (loss) $ ) $ $ ) $ $ ) $ (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 4, Derivative Financial Instruments — Cash Flow Hedges, for further details. (4) Pre-tax amortization of prior service cost and actuarial loss included in net periodic benefit cost, which is comprised of amortization of prior service cost (benefit) and recognized net actuarial (gain) loss, is reported in operating expenses on the consolidated statements of operations. See Note 7, 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 (losses) on currency postretirement other available-for-sale on fixed maturities derivative translation benefit comprehensive securities available-for-sale instruments adjustment obligation income (loss) (in millions) Balances at January 1, 2014 $ $ ) $ ) $ ) $ ) $ Other comprehensive income during the period, net of adjustments — ) — Amounts reclassified from AOCI ) — Other comprehensive income ) Balances at September 30, 2014 $ $ ) $ $ ) $ ) $ Balances at January 1, 2015 $ $ ) $ $ ) $ ) $ Other comprehensive loss during the period, net of adjustments ) — ) — ) Amounts reclassified from AOCI ) ) — Other comprehensive loss ) ) ) Purchase of subsidiary shares from noncontrolling interest — — — ) — ) Balances at September 30, 2015 $ $ ) $ $ ) $ ) $ )
Redeemable Noncontrolling Interest (Table)	Following is a reconciliation of the changes in the redeemable noncontrolling interest (in millions): Balance at January 1, 2014 $ Net income attributable to redeemable noncontrolling interest Contributions from redeemable noncontrolling interest Distributions to redeemable noncontrolling interest ) Purchase of subsidiary shares from redeemable noncontrolling interest (1) ) Change in redemption value of redeemable noncontrolling interest Foreign currency translation adjustment ) Balance at September 30, 2014 $ Balance at January 1, 2015 $ Net income attributable to redeemable noncontrolling interest Contributions from redeemable noncontrolling interest Distributions to redeemable noncontrolling interest ) Purchase of subsidiary shares from redeemable noncontrolling interest ) Change in redemption value of redeemable noncontrolling interest Foreign currency translation adjustment ) Balance at September 30, 2015 $ (1) During the third quarter of 2014, we increased our ownership stake in Columbus Circle Investors.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Measurements
Fair Value (Table)	September 30, 2015 Assets/ (liabilities) Fair value hierarchy level measured at fair value Level 1 Level 2 Level 3 (in millions) Assets Fixed maturities, available-for-sale: U.S. government and agencies $ $ $ $ — Non-U.S. governments States and political subdivisions — — Corporate Residential mortgage-backed securities — — Commercial mortgage-backed securities — Collateralized debt obligations — Other debt obligations — Total fixed maturities, available-for-sale Fixed maturities, trading Equity securities, available-for-sale Equity securities, trading — Derivative assets (1) — Other investments (2) Cash equivalents (3) — — Sub-total excluding separate account assets Separate account assets Total assets $ $ $ $ Liabilities Investment-type insurance contracts (4) $ ) $ — $ — $ ) Derivative liabilities (1) ) — ) ) Other liabilities (4) ) — ) ) Total liabilities $ ) $ — $ ) $ ) Net assets $ $ $ $ December 31, 2014 Assets/ (liabilities) Fair value hierarchy level measured at fair value Level 1 Level 2 Level 3 (in millions) Assets Fixed maturities, available-for-sale: U.S. government and agencies $ $ $ $ — Non-U.S. governments — States and political subdivisions — — Corporate Residential mortgage-backed securities — — Commercial mortgage-backed securities — — Collateralized debt obligations — Other debt obligations — Total fixed maturities, available-for-sale Fixed maturities, trading — Equity securities, available-for-sale Equity securities, trading — Derivative assets (1) — Other investments (2) Cash equivalents (3) — — Sub-total excluding separate account assets Separate account assets Total assets $ $ $ $ Liabilities Investment-type insurance contracts (4) $ ) $ — $ — $ ) Derivative liabilities (1) ) — ) ) Other liabilities (4) ) — ) ) Total liabilities $ ) $ — $ ) $ ) Net assets $ $ $ $ (1) Within the consolidated statements of financial position, derivative assets are reported with other investments and derivative liabilities are reported with other liabilities. Refer to Note 4, Derivative Financial Instruments, for further information on fair value by class of derivative instruments. Our derivatives are primarily Level 2, with the exception of certain credit default swaps and other swaps that are Level 3. (2) Primarily includes seed money investments, other investment funds, commercial mortgage loans of consolidated VIEs and equity method investments reported at fair value. (3) Includes money market instruments and short-term investments with a maturity date of three months or less when purchased. (4) Includes bifurcated embedded derivatives that are reported at fair value within the same line item in the consolidated statements of financial position in which the host contract is reported. Other liabilities also include obligations of consolidated VIEs reported at fair value.
Reconciliation for All Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Table)	For the three months ended September 30, 2015 Total realized/unrealized Changes in Beginning gains (losses) Net Ending unrealized asset/ purchases, asset/ gains (losses) (liability) sales, (liability) included in balance Included in issuances balance net income as of Included in other and Transfers Transfers as of relating to June 30, net income comprehensive settlements into out of September 30, positions still 2015 (1) income (4) Level 3 Level 3 2015 held (1) (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ $ ) $ $ $ — $ — $ $ ) Corporate ) ) ) ) Commercial mortgage-backed securities — — — — — Collateralized debt obligations — ) — — — Other debt obligations — — ) — Total fixed maturities, available-for-sale ) ) ) ) Fixed maturities, trading ) — — — — ) Equity securities, available-for-sale — — — — — — Derivative assets — — — — Other investments — — — Separate account assets (2) — ) ) Liabilities Investment-type insurance contracts ) ) — — — ) ) Derivative liabilities ) ) — — — ) ) Other liabilities (3) ) — — — — ) For the three months ended September 30, 2014 Total realized/unrealized Changes in Beginning gains (losses) Net Ending unrealized asset/ purchases, asset/ gains (losses) (liability) sales, (liability) included in balance Included in Included in issuances balance net income as of net other and Transfers Transfers as of relating to June 30, income comprehensive settlements into out of September 30, positions still 2014 (1) income (4) Level 3 Level 3 2014 held (1) (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ $ — $ ) $ $ — $ — $ $ — States and political subdivisions — — — — — — Corporate ) ) — ) Commercial mortgage-backed securities ) ) ) Collateralized debt obligations — — ) — Other debt obligations — — ) — — — Total fixed maturities, available-for-sale ) ) ) ) Fixed maturities, trading — ) — — Equity securities, available-for-sale ) — — — ) Derivative assets ) — — — ) Other investments — ) — — Separate account assets (2) ) ) Liabilities Investment-type insurance contracts ) ) — — — ) ) Derivative liabilities ) ) ) — — ) ) Other liabilities (3) ) — — — ) For the nine months ended September 30, 2015 Total realized/unrealized Changes in Beginning gains (losses) Net Ending unrealized asset/ purchases, asset/ gains (losses) (liability) sales, (liability) included in balance Included Included in issuances balance net income as of in net other and Transfers Transfers as of relating to December 31, income comprehensive settlements into out of September 30, positions still 2014 (1) income (4) Level 3 Level 3 2015 held (1) (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ $ ) $ $ $ — $ — $ $ ) Corporate ) ) ) ) Commercial mortgage-backed securities — — — — — Collateralized debt obligations ) ) — — — Other debt obligations — — ) — Total fixed maturities, available-for-sale ) ) ) ) Fixed maturities, trading ) — ) — — ) Equity securities, available-for-sale — — — — — — Derivative assets ) — — — ) Other investments — ) — ) Separate account assets (2) — ) Liabilities Investment-type insurance contracts ) ) — — — ) ) Derivative liabilities ) ) — — ) ) Other liabilities (3) ) — — — — ) For the nine months ended September 30, 2014 Total realized/unrealized Changes in Beginning gains (losses) Net Ending unrealized asset/ purchases, asset/ gains (losses) (liability) sales, (liability) included in balance Included Included in issuances balance net income as of in net other and Transfers Transfers as of relating to December 31, income comprehensive settlements into out of September 30, positions still 2013 (1) income (4) Level 3 Level 3 2014 held (1) (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ $ ) $ ) $ ) $ — $ — $ $ ) States and political subdivisions — — ) — — — Corporate ) ) ) ) Commercial mortgage-backed securities ) ) ) ) Collateralized debt obligations — — ) — Other debt obligations — ) — ) — Total fixed maturities, available-for-sale ) ) ) Fixed maturities, trading — ) — — Equity securities, available-for-sale ) — — ) Derivative assets ) — — — ) Other investments — ) — — Separate account assets (2) ) ) Liabilities Investment-type insurance contracts ) ) — — — ) ) Derivative liabilities ) — — ) ) Other liabilities (3) ) — — — ) (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 fixed maturities, trading and certain derivatives used in relation to certain trading portfolios 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) Certain embedded derivatives reported in other liabilities are part of a cash flow hedge, with the effective portion of the unrealized gains (losses) recorded in AOCI. (4) Gross purchases, sales, issuances and settlements were: For the three months ended September 30, 2015 Net purchases, sales, issuances Purchases Sales Issuances Settlements and settlements (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ $ — $ — $ ) $ Corporate — — ) Commercial mortgage-backed securities — — — Collateralized debt obligations — — — ) ) Other debt obligations — — ) Total fixed maturities, available-for-sale — — ) Other investments — — — Separate account assets (5) ) ) ) Liabilities Investment-type insurance contracts — — For the three months ended September 30, 2014 Net purchases, sales, issuances Purchases Sales Issuances Settlements and settlements (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ $ — $ — $ ) $ Corporate ) — ) Commercial mortgage-backed securities — — — Collateralized debt obligations — — ) Other debt obligations — — — ) ) Total fixed maturities, available-for-sale ) — ) Fixed maturities, trading — ) — ) ) Derivative assets — — — Other investments — — — ) ) Separate account assets (5) ) ) Liabilities Investment-type insurance contracts — — Derivative liabilities ) — — Other liabilities — — — For the nine months ended September 30, 2015 Net purchases, sales, issuances Purchases Sales Issuances Settlements and settlements (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ $ — $ — $ ) $ Corporate ) — ) Commercial mortgage-backed securities — — — Collateralized debt obligations — — — ) ) Other debt obligations — — ) Total fixed maturities, available-for-sale ) — ) Fixed maturities, trading — ) — ) Derivative assets ) — — Other investments ) — — ) Separate account assets (5) ) ) Liabilities Investment-type insurance contracts — — Derivative liabilities — — — For the nine months ended September 30, 2014 Net purchases, sales, issuances Purchases Sales Issuances Settlements and settlements (in millions) Assets Fixed maturities, available-for-sale: Non-U.S. governments $ $ ) $ — $ ) $ ) States and political subdivisions — — — ) ) Corporate ) — ) Commercial mortgage-backed securities — — — ) ) Collateralized debt obligations — — ) Other debt obligations — — — ) ) Total fixed maturities, available-for-sale ) — ) Fixed maturities, trading — ) — ) ) Derivative assets — — — Other investments — — ) ) Separate account assets (5) ) ) Liabilities Investment-type insurance contracts — — Derivative liabilities ) — — Other liabilities — — — (5) Issuances and settlements include amounts related to mortgage encumbrances associated with real estate in our separate accounts.
Transfers (Table)	For the three months ended September 30, 2015 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: Corporate $ — $ — $ — $ $ — $ Other debt obligations — — — — — Total fixed maturities, available-for-sale — — — — Other investments — — — — — Separate account assets — — For the three months ended September 30, 2014 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: Corporate $ — $ — $ — $ $ — $ — Commercial mortgage-backed securities — — — — Collateralized debt obligations — — — — — Total fixed maturities, available-for-sale — — — — Separate account assets — — For the nine months September 30, 2015 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: Corporate $ — $ — $ — $ $ — $ Other debt obligations — — — — — Total fixed maturities, available-for-sale — — — — Other investments — — — — Separate account assets — — For the nine months September 30, 2014 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: Corporate $ — $ — $ — $ $ — $ Commercial mortgage-backed securities — — — — Collateralized debt obligations — — — — — Other debt obligations — — — — — Total fixed maturities, available-for-sale — — — — Equity securities, available-for-sale — — — — — Separate account assets — —
Quantitative Information about Level 3 Fair Value Measurements (Table)	As of September 30, 2015 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 $ Discounted cash flow Discount rate (1) % Illiquidity premium 50 basis points ("bps") bps Corporate Discounted cash flow Discount rate (1) 1.6%-7.6% % Comparability adjustment 0bps-14bps bps Illiquidity premium 0bps-60bps bps Commercial mortgage-backed securities Discounted cash flow Discount rate (1) 3.7%-4.9% % Collateralized debt obligations Discounted cash flow Discount rate (1) % Probability of default % Potential loss severity % Other debt obligations Discounted cash flow Discount rate (1) % Illiquidity premium 750bps bps Fixed maturities, trading Discounted cash flow Discount rate (1) 2.1%-16.0% % Illiquidity premium 200bps-800bps bps Other investments Discounted cash flow - equity method real estate investments Discount rate (1) % Terminal capitalization rate % Average market rent growth rate % Discounted cash flow - equity method real estate investments - debt Loan to value % Credit spread rate % As of September 30, 2015 Assets / (liabilities) measured at Valuation Unobservable Input/range of Weighted fair value technique(s) input description inputs average (in millions) Separate account assets Discounted cash flow - mortgage loans Discount rate (1) 1.1%-7.1% % Illiquidity premium 0bps-60bps bps Credit spread rate 85bps-665bps bps Discounted cash flow - real estate Discount rate (1) 5.6%-38.1% % Terminal capitalization rate 4.3%-9.5% % Average market rent growth rate 0%-4.4% % Discounted cash flow - real estate debt Loan to value 15.3%-65.2% % Credit spread rate 1.6%-4.3% % Liabilities Investment-type insurance contracts ) Discounted cash flow Long duration interest rate 2.4%-2.5% (3) Long-term equity market volatility 14.9%-44.9% Non-performance risk 0.5%-1.9% Utilization rate See note (4) Lapse rate 0.5%-14.1% Mortality rate See note (5) December 31, 2014 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 $ Discounted cash flow Discount rate (1) % Illiquidity premium 50 bps bps Corporate Discounted cash flow Discount rate (1) 1.8%-6.7% % Comparability adjustment 0bps-1bps bps Illiquidity premium 0bps-25bps bps December 31, 2014 Assets / (liabilities) measured at Valuation Unobservable Input/range of Weighted fair value technique(s) input description inputs average (in millions) Collateralized debt obligations Discounted cash flow Discount rate (1) 2.7%-17.1% % Probability of default 0%-100% % Potential loss severity 0%-70.0% % Other debt obligations Discounted cash flow Discount rate (1) 1.4%-5.0% % Illiquidity premium 0bps-1,000bps bps Fixed maturities, trading Discounted cash flow Discount rate (1) 1.8%-126.9% % Illiquidity premium 200bps-1,400bps bps See note (2) Other investments Discounted cash flow - commercial mortgage loans of consolidated VIEs Discount rate (1) % Illiquidity premium 76bps bps Discounted cash flow - equity method real estate investments Discount rate (1) 7.3%-8.0% % Terminal capitalization rate 5.5%-6.8% % Average market rent growth rate 3.3%-3.7% % Discounted cash flow - equity method real estate investments - debt Loan to value 34.2%-58.9% % Credit spread rate 1.8%-2.0% % December 31, 2014 Assets / (liabilities) measured at Valuation Unobservable Input/range of Weighted fair value technique(s) input description inputs average (in millions) Separate account assets Discounted cash flow - mortgage loans Discount rate (1) 1.1%-6.9% % Illiquidity premium 0bps-60bps bps Credit spread rate 70bps-632bps bps Discounted cash flow - real estate Discount rate (1) 6.0%-24.6% % Terminal capitalization rate 4.5%-9.5% % Average market rent growth rate 1.3%-4.4% % Discounted cash flow - real estate debt Loan to value 6.8%-64.1% % Credit spread rate 2.1%-4.8% % Liabilities Investment-type insurance contracts ) Discounted cash flow Long duration interest rate 2.6%-2.7% (3) Long-term equity market volatility 14.9%-39.5% Non-performance risk 0.1%-1.4% Utilization rate See note (4) Lapse rate 0.5%-14.1% Mortality rate See note (5) Derivative liabilities ) See note (2) Other liabilities ) See note (2) (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 credit spread, illiquidity or other adjustments, where applicable. (2) Prior to 2015, the assets and liabilities fair values relate to a consolidated collateralized private investment vehicle that is a VIE. Fixed maturities, trading represents the underlying collateral of the investment structure and consists of high-grade fixed maturity investments, which are over-collateralized based on outstanding notes priced at par. The derivative liability represents credit default swaps that are valued using a correlation model to the credit default swap (“CDS”) Index (“CDX”) and inputs to the valuation are based on observable market data such as the end of period swap curve, CDS constituents of the index and spread levels of the index, as well as CDX tranche spreads. The value of the obligations, which are due at maturity or termination of the trust, reflect the third parties’ interest in the investment structure. (3) 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. (4) 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. (5) This input is based on an appropriate industry mortality table and a range does not provide a meaningful presentation.
Financial Instruments Not Reported at Fair Value (Table)	September 30, 2015 Fair value hierarchy level Carrying amount Fair value Level 1 Level 2 Level 3 (in millions) Assets (liabilities) Mortgage loans $ $ $ — $ — $ Policy loans — — Other investments — Cash and cash equivalents — — Investment-type insurance contracts ) ) — ) ) Short-term debt ) ) — ) — Long-term debt ) ) — ) ) Separate account liabilities ) ) — — ) Bank deposits ) ) ) ) — Cash collateral payable ) ) ) — — December 31, 2014 Fair value hierarchy level Carrying amount Fair value Level 1 Level 2 Level 3 (in millions) Assets (liabilities) Mortgage loans $ $ $ — $ — $ Policy loans — — Other investments — Cash and cash equivalents — — Investment-type insurance contracts ) ) — ) ) Short-term debt ) ) — ) — Long-term debt ) ) — ) ) Separate account liabilities ) ) — — ) Bank deposits ) ) ) ) — Cash collateral payable ) ) ) — —

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Information
Reconciliation of Assets from Segment to Consolidated (Table)	September 30, 2015 December 31, 2014 (in millions) Assets: Retirement and Investor Services $ $ Principal Global Investors Principal International U.S. Insurance Solutions Corporate Total consolidated assets $ $
Reconciliation of Operating Revenues and Operating Earnings (Losses) by Segment (Table)	For the three months ended For the nine months ended September 30, September 30, 2015 2014 2015 2014 (in millions) Operating revenues by segment: Retirement and Investor Services $ $ $ $ Principal Global Investors Principal International U.S. Insurance Solutions Corporate ) ) ) ) Total segment operating revenues Net realized capital gains (losses), net of related revenue adjustments ) ) ) Other income on a tax indemnification — — — Exited group medical insurance business ) — Total revenues per consolidated statements of operations $ $ $ $ Operating earnings (loss) by segment, net of related income taxes: Retirement and Investor Services $ $ $ $ Principal Global Investors Principal International U.S. Insurance Solutions Corporate ) ) ) ) Total segment operating earnings, net of related income taxes Net realized capital losses, as adjusted (1) ) ) ) ) Other after-tax adjustments (2) ) ) ) Net income available to common stockholders per consolidated statements of operations $ $ $ $ (1) Net realized capital gains (losses), as adjusted, is derived as follows: For the three months ended For the nine months ended September 30, September 30, 2015 2014 2015 2014 (in millions) Net realized capital gains (losses): Net realized capital gains (losses) $ $ ) $ ) $ Certain derivative and hedging-related adjustments ) ) ) ) Certain market value adjustments to fee revenues — — ) — Certain adjustments related to seed money — — Recognition of front-end fee (revenue) expense — Net realized capital gains (losses), net of related revenue adjustments ) ) ) Amortization of deferred acquisition costs and other actuarial balances ) ) ) ) Capital (gains) losses distributed ) ) Certain market value adjustments of embedded derivatives ) ) Net realized capital losses associated with exited group medical insurance business — — Noncontrolling interest capital gains ) ) ) ) Income tax effect ) Net realized capital losses, as adjusted $ ) $ ) $ ) $ ) (2) For the three months ended September 30, 2015, other after-tax adjustments included the negative effect of losses associated with our exited group medical insurance business that did not qualify for discontinued operations accounting treatment under U.S. GAAP. For the three months ended September 30, 2014, other after-tax adjustments included the negative effect of an increase in net deferred tax liabilities resulting from the third quarter 2014 enactment of tax legislation in Chile ($58.1 million) and the positive effect of gains associated with our exited group medical insurance business that did not qualify for discontinued operations accounting treatment under U.S. GAAP ($0.3 million). For the nine months ended September 30, 2015, other after-tax adjustments included the positive effect of a change in deferred tax balances related to the merger of two of our Chilean legal entities ($105.2 million) and the negative effect of: (1) the impact of a court ruling on some uncertain tax positions ($30.3 million) and (2) losses associated with our exited group medical insurance business that did not qualify for discontinued operations accounting treatment under U.S. GAAP ($0.3 million). For the nine months ended September 30, 2014, other after-tax adjustments included the negative effect of: (a) an increase in net deferred tax liabilities resulting from the third quarter 2014 enactment of tax legislation in Chile ($58.1 million); (b) the impact of a court ruling on some uncertain tax positions ($47.5 million) and (c) losses associated with our exited group medical insurance business that did not qualify for discontinued operations accounting treatment under U.S. GAAP ($0.3 million).
Operating Revenue for Products and Services by Segment (Table)	For the three months ended For the nine months ended September 30, September 30, 2015 2014 2015 2014 (in millions) Retirement and Investor Services: Full service accumulation $ $ $ $ Principal Funds Individual annuities Bank and trust services Eliminations ) ) ) ) Total Accumulation Investment only Full service payout Total Guaranteed Total Retirement and Investor Services Principal Global Investors (1) Principal International U.S. Insurance Solutions: Individual life insurance Specialty benefits insurance Eliminations — — ) ) Total U.S. Insurance Solutions Corporate ) ) ) ) Total operating revenues $ $ $ $ Total operating revenues $ $ $ $ Net realized capital gains (losses), net of related revenue adjustments ) ) ) Other income on a tax indemnification — — — Exited group medical insurance business ) — Total revenues per consolidated statements of operations $ $ $ $ (1) Reflects inter-segment revenues of $76.1 million and $71.0 million for the three months ended September 30, 2015 and 2014, respectively, and $237.7 million and $214.4 million for the nine months ended September 30, 2015 and 2014, respectively.

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	9 Months Ended
	Sep. 30, 2015
Stock-Based Compensation Plans
Stock-Based Compensation Disclosures (Table)	For the nine months ended September 30, 2015 2014 (in millions) Compensation cost $ $ Related income tax benefit Capitalized as part of an asset
Nonqualified Stock Options Fair Value (Table)	For the nine months ended September 30, 2015 Expected volatility % Expected term (in years) Risk-free interest rate % Expected dividend yield % Weighted average estimated fair value per common share $

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Common Share
Earnings Per Common Share (Table)	For the three months ended For the nine months ended September 30, September 30, 2015 2014 2015 2014 (in millions, except per share data) Net income $ $ $ $ Subtract: Net income attributable to noncontrolling interest Preferred stock dividends — Excess of redemption value over carrying value of preferred shares redeemed — — — Adjustments to redemption amounts of redeemable noncontrolling interests — — Total $ $ $ $ Weighted-average shares outstanding: Basic Dilutive effects: Stock options Restricted stock units Performance share awards Diluted Net income per common share: Basic $ $ $ $ Diluted $ $ $ $

Condensed Consolidating Finan35

Condensed Consolidating Financial Information (Tables)	9 Months Ended
	Sep. 30, 2015
Condensed Consolidating Financial Information
Condensed Consolidating Financial Information, Notes Guarantor (Table)	Condensed Consolidating Statements of Financial Position September 30, 2015 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) Assets Fixed maturities, available-for-sale $ — $ $ $ ) $ Fixed maturities, trading — — Equity securities, available-for-sale — — Equity securities, trading — — Mortgage loans — ) Real estate — — Policy loans — — Investment in unconsolidated entities ) Other investments ) Cash and cash equivalents ) Accrued investment income — ) Premiums due and other receivables — ) Deferred acquisition costs — — Property and equipment — — Goodwill — — Other intangibles — — Separate account assets — — Other assets ) Total assets $ $ $ $ ) $ Liabilities Contractholder funds $ — $ $ $ ) $ Future policy benefits and claims — ) Other policyholder funds — ) Short-term debt — — — Long-term debt — ) Income taxes currently payable — ) Deferred income taxes — ) Separate account liabilities — — Other liabilities ) Total liabilities ) Redeemable noncontrolling interest — — — Stockholders’ equity Common stock — ) Additional paid-in capital ) Retained earnings ) Accumulated other comprehensive income (loss) ) ) ) ) Treasury stock, at cost ) — — — ) Total stockholders’ equity attributable to PFG ) Noncontrolling interest — — ) Total stockholders’ equity ) Total liabilities and stockholders’ equity $ $ $ $ ) $ Condensed Consolidating Statements of Financial Position December 31, 2014 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) Assets Fixed maturities, available-for-sale $ — $ $ $ ) $ Fixed maturities, trading — — Equity securities, available-for-sale — — Equity securities, trading — — Mortgage loans — ) Real estate — — Policy loans — — Investment in unconsolidated entities ) Other investments ) Cash and cash equivalents ) Accrued investment income — ) Premiums due and other receivables — ) Deferred acquisition costs — — Property and equipment — — Goodwill — — Other intangibles — — Separate account assets — — Other assets ) Total assets $ $ $ $ ) $ Liabilities Contractholder funds $ — $ $ $ ) $ Future policy benefits and claims — ) Other policyholder funds — ) Short-term debt — — — Long-term debt — ) Income taxes currently payable — — ) Deferred income taxes — ) Separate account liabilities — — Other liabilities ) Total liabilities ) Redeemable noncontrolling interest — — — Stockholders’ equity Series A preferred stock — — — — — Series B preferred stock — — — Common stock — ) Additional paid-in capital ) Retained earnings ) Accumulated other comprehensive income ) Treasury stock, at cost ) — — — ) Total stockholders’ equity attributable to PFG ) Noncontrolling interest — — ) Total stockholders’ equity ) Total liabilities and stockholders’ equity $ $ $ $ ) $ Condensed Consolidating Statements of Operations For the nine months ended September 30, 2015 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 $ — $ $ $ — $ Fees and other revenues — ) Net investment income ) Net realized capital gains (losses), excluding impairment losses on available-for-sale securities — ) — Net other-than-temporary impairment recoveries on available-for-sale securities — — — Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified from other comprehensive income — ) ) — ) Net impairment losses on available-for-sale securities — ) ) — ) Net realized capital gains (losses) — ) — ) Total revenues ) Expenses Benefits, claims and settlement expenses — ) Dividends to policyholders — — — Operating expenses ) Total expenses ) Income (loss) before income taxes ) ) Income taxes (benefits) ) ) Equity in the net income (loss) of subsidiaries ) ) — Net income ) Net income attributable to noncontrolling interest — — — Net income attributable to PFG ) Preferred stock dividends — — — Excess of redemption value over carrying value of preferred shares redeemed — — — Net income available to common stockholders $ $ $ $ ) $ Net income $ $ $ $ ) $ Other comprehensive loss ) ) ) ) Comprehensive income $ $ $ $ ) $ Condensed Consolidating Statements of Operations For the nine months ended September 30, 2014 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 $ — $ $ $ — $ Fees and other revenues — ) Net investment income ) Net realized capital gains (losses), excluding impairment losses on available-for-sale securities — ) — Net other-than-temporary impairment (losses) recoveries on available-for-sale securities — ) — Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified to (from) other comprehensive income — ) — ) Net impairment losses on available-for-sale securities — ) ) — ) Net realized capital gains (losses) — ) — Total revenues ) Expenses Benefits, claims and settlement expenses — ) Dividends to policyholders — — — Operating expenses ) Total expenses ) Income (loss) before income taxes ) ) Income taxes (benefits) ) ) Equity in the net income (loss) of subsidiaries ) ) — Net income ) Net income attributable to noncontrolling interest — — — Net income attributable to PFG ) Preferred stock dividends — — — Net income available to common stockholders $ $ $ $ ) $ Net income $ $ $ $ ) $ Other comprehensive income ) Comprehensive income $ $ $ $ ) $ Condensed Consolidating Statements of Cash Flows For the nine months ended September 30, 2015 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 $ ) $ $ $ $ Investing activities Available-for-sale securities: Purchases — ) ) ) Sales — — Maturities — — Mortgage loans acquired or originated — ) ) ) Mortgage loans sold or repaid — ) Real estate acquired — ) ) — ) Net purchases of property and equipment — ) ) — ) Purchases of interests in subsidiaries, net of cash acquired — — ) — ) Dividends and returns of capital received from (contributed to) unconsolidated entities ) ) — Net change in other investments ) ) ) Net cash provided by (used in) investing activities ) ) ) ) Financing activities Issuance of common stock — — — Acquisition of treasury stock ) — — — ) Proceeds from financing element derivatives — — — Payments for financing element derivatives — ) — — ) Excess tax benefits from share-based payment arrangements — Purchase of subsidiary shares from noncontrolling interest — — ) ) Sale of subsidiary shares to noncontrolling interest — — ) — Dividends to common stockholders ) — — — ) Dividends to preferred stockholders ) — — — ) Preferred stock redemption ) — — — ) Issuance of long-term debt — ) Principal repayments of long-term debt — — ) ) Net proceeds from short-term borrowings — — — Dividends and capital paid to parent — ) ) — Investment contract deposits — — Investment contract withdrawals — ) ) — ) Net increase in banking operation deposits — — — Other — ) — — ) Net cash provided by (used in) financing activities ) ) ) Net increase in cash and cash equivalents ) Cash and cash equivalents at beginning of period ) Cash and cash equivalents at end of period $ $ $ $ ) $ Condensed Consolidating Statements of Cash Flows For the nine months ended September 30, 2014 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 $ ) $ $ $ $ Investing activities Available-for-sale securities: Purchases — ) ) ) Sales — — Maturities — — Mortgage loans acquired or originated — ) ) ) Mortgage loans sold or repaid — ) Real estate acquired — ) ) — ) Net purchases of property and equipment — ) ) — ) Dividends and returns of capital received from unconsolidated entities ) — Net change in other investments ) ) Net cash provided by (used in) investing activities ) ) ) Financing activities Issuance of common stock ) — Acquisition of treasury stock ) — — — ) Proceeds from financing element derivatives — — — Payments for financing element derivatives — ) — — ) Excess tax benefits from share-based payment arrangements — Purchase of subsidiary shares from noncontrolling interest — — ) ) Sale of subsidiary shares to noncontrolling interest — — ) — Dividends to common stockholders ) — — — ) Dividends to preferred stockholders ) — — — ) Issuance of long-term debt — — ) Principal repayments of long-term debt — ) ) ) Net repayments of short-term borrowings — — ) — ) Dividends and capital paid to parent — ) ) — Investment contract deposits — — Investment contract withdrawals — ) ) — ) Net decrease in banking operation deposits — — ) — ) Other — ) — ) Net cash used in financing activities ) ) ) ) Net increase (decrease) in cash and cash equivalents ) ) ) Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period $ $ $ $ $
Condensed Consolidating Financial Information, Shelf Registration Guarantor (Table)	Condensed Consolidating Statements of Financial Position September 30, 2015 Principal Life Principal Principal Insurance Company Principal Financial Financial and Other Financial Group, Inc. Services, Inc. Subsidiaries Group, Inc. Parent Only Only Combined Eliminations Consolidated (in millions) Assets Fixed maturities, available-for-sale $ — $ — $ $ — $ Fixed maturities, trading — — — Equity securities, available-for-sale — — — Equity securities, trading — — Mortgage loans — — — Real estate — — — Policy loans — — — Investment in unconsolidated entities ) Other investments — Cash and cash equivalents ) Accrued investment income — — Premiums due and other receivables — ) Deferred acquisition costs — — — Property and equipment — — — Goodwill — — — Other intangibles — — — Separate account assets — — — Other assets ) Total assets $ $ $ $ ) $ Liabilities Contractholder funds $ — $ — $ $ — $ Future policy benefits and claims — — — Other policyholder funds — — — Short-term debt — — ) Long-term debt ) Income taxes currently payable — — ) Deferred income taxes — ) Separate account liabilities — — — Other liabilities ) Total liabilities ) Redeemable noncontrolling interest — — — Stockholders’ equity Common stock — ) Additional paid-in capital ) Retained earnings ) Accumulated other comprehensive loss ) ) ) ) Treasury stock, at cost ) — ) ) Total stockholders’ equity attributable to PFG ) Noncontrolling interest — — — Total stockholders’ equity ) Total liabilities and stockholders’ equity $ $ $ $ ) $ Condensed Consolidating Statements of Financial Position December 31, 2014 Principal Life Principal Principal Insurance Company Principal Financial Financial and Other Financial Group, Inc. Services, Inc. Subsidiaries Group, Inc. Parent Only Only Combined Eliminations Consolidated (in millions) Assets Fixed maturities, available-for-sale $ — $ — $ $ — $ Fixed maturities, trading — — — Equity securities, available-for-sale — — — Equity securities, trading — — — Mortgage loans — — — Real estate — — — Policy loans — — — Investment in unconsolidated entities ) Other investments — Cash and cash equivalents ) Accrued investment income — — — Premiums due and other receivables — Deferred acquisition costs — — — Property and equipment — — — Goodwill — — — Other intangibles — — — Separate account assets — — — Other assets ) Total assets $ $ $ $ ) $ Liabilities Contractholder funds $ — $ — $ $ — $ Future policy benefits and claims — — — Other policyholder funds — — — Short-term debt — — ) Long-term debt — — Income taxes currently payable — ) Deferred income taxes — — ) Separate account liabilities — — — Other liabilities ) Total liabilities ) Redeemable noncontrolling interest — — — Stockholders’ equity Series A preferred stock — — — — — Series B preferred stock — — — Common stock — ) Additional paid-in capital ) Retained earnings ) Accumulated other comprehensive income ) Treasury stock, at cost ) — ) ) Total stockholders’ equity attributable to PFG ) Noncontrolling interest — — — Total stockholders’ equity ) Total liabilities and stockholders’ equity $ $ $ $ ) $ Condensed Consolidating Statements of Operations For the nine months ended September 30, 2015 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 $ — $ — $ $ — $ Fees and other revenues — ) Net investment income — Net realized capital gains (losses), excluding impairment losses on available-for-sale securities — ) ) Net other-than-temporary impairment recoveries on available-for-sale securities — — — Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified from other comprehensive income — — ) — ) Net impairment losses on available-for-sale securities — — ) — ) Net realized capital losses — ) ) ) ) Total revenues ) Expenses Benefits, claims and settlement expenses — — — Dividends to policyholders — — — Operating expenses — Total expenses — Income (loss) before income taxes ) ) Income taxes (benefits) ) — Equity in the net income of subsidiaries — ) — Net income ) Net income attributable to noncontrolling interest — — — Net income attributable to PFG ) Preferred stock dividends — — — Excess of redemption value over carrying value of preferred shares redeemed — — — Net income available to common stockholders $ $ $ $ ) $ Net income $ $ $ $ ) $ Other comprehensive loss ) ) ) ) Comprehensive income $ $ $ $ ) $ Condensed Consolidating Statements of Operations For the nine months ended September 30, 2014 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 $ — $ — $ $ — $ Fees and other revenues — — Net investment income — Net realized capital gains, excluding impairment losses on available-for-sale securities — — — Net other-than-temporary impairment recoveries on available-for-sale securities — — — Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified from other comprehensive income — — ) — ) Net impairment losses on available-for-sale securities — — ) — ) Net realized capital gains — — — Total revenues — Expenses Benefits, claims and settlement expenses — — — Dividends to policyholders — — — Operating expenses — Total expenses — Income (loss) before income taxes ) ) — Income taxes (benefits) ) ) — Equity in the net income of subsidiaries — ) — Net income ) Net income attributable to noncontrolling interest — — — Net income attributable to PFG ) Preferred stock dividends — — — Net income available to common stockholders $ $ $ $ ) $ Net income $ $ $ $ ) $ Other comprehensive income ) Comprehensive income $ $ $ $ ) $ Condensed Consolidating Statements of Cash Flows For the nine months ended September 30, 2015 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 $ ) $ $ $ ) $ Investing activities Available-for-sale securities: Purchases — — ) — ) Sales — — — Maturities — — — Mortgage loans acquired or originated — — ) — ) Mortgage loans sold or repaid — — — Real estate acquired — — ) — ) Net purchases of property and equipment — — ) — ) Purchases of interests in subsidiaries, net of cash acquired — — ) — ) Dividends and returns of capital received from unconsolidated entities — ) — Net change in other investments ) ) Net cash provided by (used in) investing activities ) ) ) ) Financing activities Issuance of common stock — — — Acquisition of treasury stock ) — — — ) Proceeds from financing element derivatives — — — Payments for financing element derivatives — — ) — ) Excess tax benefits from share-based payment arrangements — — Purchase of subsidiary shares from noncontrolling interest — — ) — ) Dividends to common stockholders ) — — — ) Dividends to preferred stockholders ) — — — ) Preferred stock redemption ) — — — ) Issuance of long-term debt ) Principal repayments of long-term debt — — ) ) Net proceeds from short-term borrowings — — Dividends and capital paid to parent — ) ) — Investment contract deposits — — — Investment contract withdrawals — — ) — ) Net increase in banking operation deposits — — — Other — — ) — ) Net cash used in financing activities ) ) ) ) Net increase (decrease) in cash and cash equivalents ) ) Cash and cash equivalents at beginning of period ) Cash and cash equivalents at end of period $ $ $ $ ) $ Condensed Consolidating Statements of Cash Flows For the nine months ended September 30, 2014 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 $ ) $ ) $ $ $ Investing activities Available-for-sale securities: Purchases — — ) — ) Sales — — — Maturities — — — Mortgage loans acquired or originated — — ) — ) Mortgage loans sold or repaid — — — Real estate acquired — — ) — ) Net purchases of property and equipment — — ) — ) Dividends and returns of capital received from unconsolidated entities — ) — Net change in other investments ) ) ) Net cash provided by (used in) investing activities ) ) ) Financing activities Issuance of common stock — — — Acquisition of treasury stock ) — — — ) Proceeds from financing element derivatives — — — Payments for financing element derivatives — — ) — ) Excess tax benefits from share-based payment arrangements — — Purchase of subsidiary shares from noncontrolling interest — — ) — ) Dividends to common stockholders ) — — — ) Dividends to preferred stockholders ) — — — ) Issuance of long-term debt — — — Principal repayments of long-term debt — — ) — ) Net repayments of short-term borrowings — — ) ) Dividends and capital paid to parent — ) ) — Investment contract deposits — — — Investment contract withdrawals — — ) — ) Net decrease in banking operation deposits — — ) — ) Other — — ) — ) Net cash used in financing activities ) ) ) ) Net increase (decrease) in cash and cash equivalents ) ) ) Cash and cash equivalents at beginning of period ) Cash and cash equivalents at end of period $ $ $ $ ) $

Nature of Operations and Sign36

Nature of Operations and Significant Accounting Policies (Details) - USD ($) $ in Millions	Sep. 01, 2015	Sep. 30, 2015	Dec. 31, 2014
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		$ 173.3	$ 205.4
AXA pension business
Goodwill and Other Intangible Assets
Purchase price of acquired business	$ 335.5
Distribution agreements | AXA pension business
Goodwill and Other Intangible Assets
Exclusive distribution agreement period	15 years

Variable Interest Entities (Det

Variable Interest Entities (Details) $ in Millions	Sep. 30, 2015USD ($)item	Dec. 31, 2014USD ($)
Carrying amounts of consolidated VIE assets and liabilities
Fixed maturities, available-for-sale	$ 49,780.6	$ 49,670.8
Fixed maturities, trading	710.2	604.6
Equity securities, available-for-sale	465.3	123
Equity securities, trading	869.1	840.2
Real estate	1,415	1,344.6
Other investments	3,270.4	3,209.8
Accrued investment income	566.8	505.9
Premiums due and other receivables	1,401.6	1,213
Separate account assets	134,045.8	140,072.8
Other assets	1,110.8	1,083.5
Total assets	215,365.4	219,087
Contractholder funds	35,115.2	34,726.7
Long-term debt	3,286.1	2,531.2
Income taxes currently payable	16.7	11.5
Deferred income taxes	878.8	1,035.3
Separate account liabilities	134,045.8	140,072.8
Other liabilities	5,696.2	5,542.2
Total liabilities	205,601.6	208,797
Aggregate consolidated variable interest entities
Carrying amounts of consolidated VIE assets and liabilities
Fixed maturities, available-for-sale	261.1	278.2
Fixed maturities, trading	100.4	100.4
Equity securities, available-for-sale	315.8
Equity securities, trading	321.2	345.3
Real estate	298.9	284.9
Other investments	36.8	40.6
Cash	7.8	4.7
Accrued investment income	2.5	2
Premiums due and other receivables	2
Separate account assets	32,827.6	34,655.4
Other assets	(0.9)	0.3
Total assets	34,173.2	35,711.8
Contractholder funds	329.2
Long-term debt	38.2	82.3
Income taxes currently payable	(0.1)	10.6
Deferred income taxes	0.6	1.1
Separate account liabilities	32,827.6	34,655.4
Other liabilities	340.7	344
Total liabilities	$ 33,536.2	35,093.4
Grantor trusts
Consolidated Variable Interest Entity disclosures
Number of consolidated variable interest entities | item	3
Carrying amounts of consolidated VIE assets and liabilities
Fixed maturities, available-for-sale	$ 261.1	278.2
Accrued investment income	0.4	0.4
Total assets	261.5	278.6
Deferred income taxes	1.6	1.5
Other liabilities	236.7	239.1
Total liabilities	$ 238.3	240.6
Collateralized private investment vehicle
Consolidated Variable Interest Entity disclosures
Number of entities for which the reporting entity acts as primary beneficiary | item	1
Carrying amounts of consolidated VIE assets and liabilities
Fixed maturities, trading	$ 100.4	100.4
Total assets	100.4	100.4
Other liabilities	87.2	85.6
Total liabilities	87.2	85.6
Commercial mortgage-backed securities VIE
Carrying amounts of consolidated VIE assets and liabilities
Other investments	25.1	35
Accrued investment income	0.2	0.2
Total assets	25.3	35.2
Other liabilities		4.8
Total liabilities		4.8
Mandatory retirement savings
Carrying amounts of consolidated VIE assets and liabilities
Equity securities, available-for-sale	315.8
Equity securities, trading	321.2	345.3
Separate account assets	32,827.6	34,655.4
Total assets	33,464.6	35,000.7
Contractholder funds	329.2
Separate account liabilities	32,827.6	34,655.4
Total liabilities	33,156.8	34,655.4
Real estate VIE
Carrying amounts of consolidated VIE assets and liabilities
Real estate	298.9	284.9
Other investments	11.7	5.6
Cash	7.8	4.7
Accrued investment income	1.9	1.4
Premiums due and other receivables	2
Other assets	(0.9)	0.3
Total assets	321.4	296.9
Long-term debt	38.2	82.3
Income taxes currently payable	(0.1)	10.6
Deferred income taxes	(1)	(0.4)
Other liabilities	16.8	14.5
Total liabilities	$ 53.9	$ 107

Variable Interest Entities (D38

Variable Interest Entities (Details 2) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Sponsored Investment Funds
Total assets of unconsolidated money market mutual fund variable interest entities	$ 1,300	$ 1,400
Other investments: Other limited partnership and fund interests
Unconsolidated Variable Interest Entity disclosures
Asset carrying value	210.7	188.2
Maximum exposure to loss	210.7	188.2
Available-for-sale | Corporate debt securities
Unconsolidated Variable Interest Entity disclosures
Asset carrying value	462.3	456.7
Maximum exposure to loss	358.6	353.3
Available-for-sale | Residential mortgage-backed pass-through securities
Unconsolidated Variable Interest Entity disclosures
Asset carrying value	2,680.2	2,822.9
Maximum exposure to loss	2,572.2	2,702.9
Available-for-sale | Commercial mortgage-backed securities
Unconsolidated Variable Interest Entity disclosures
Asset carrying value	3,861.2	3,975.5
Maximum exposure to loss	3,808.8	3,896.9
Available-for-sale | Collateralized debt obligations
Unconsolidated Variable Interest Entity disclosures
Asset carrying value	633	504.1
Maximum exposure to loss	655.9	521.2
Available-for-sale | Other debt obligations
Unconsolidated Variable Interest Entity disclosures
Asset carrying value	4,535.6	4,616.4
Maximum exposure to loss	4,494.5	4,583.4
Trading | Residential mortgage-backed pass-through securities
Unconsolidated Variable Interest Entity disclosures
Asset carrying value	27.6	34.4
Maximum exposure to loss	27.6	34.4
Trading | Commercial mortgage-backed securities
Unconsolidated Variable Interest Entity disclosures
Asset carrying value	44.1	1.5
Maximum exposure to loss	44.1	1.5
Trading | Collateralized debt obligations
Unconsolidated Variable Interest Entity disclosures
Asset carrying value	38.6	39.4
Maximum exposure to loss	$ 38.6	39.4
Trading | Other debt obligations
Unconsolidated Variable Interest Entity disclosures
Asset carrying value		0.2
Maximum exposure to loss		$ 0.2

Investments (Details)

Investments (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Fixed maturities
Available-for-sale securities disclosures
Amortized cost	$ 47,785.5	$ 46,719.5
Gross unrealized gains	2,561.3	3,290.1
Gross unrealized losses	566.2	338.8
Fair value	49,780.6	49,670.8
Other-than-temporary impairments in AOCI	147.5	175.5
Net unrealized gains (losses) on impaired fixed maturities, available-for-sale related to changes in fair value subsequent to the impairment date	144.5	167.5
U.S. government and agencies
Available-for-sale securities disclosures
Amortized cost	1,507.6	1,085.6
Gross unrealized gains	39.7	39.1
Gross unrealized losses	3.7	2.9
Fair value	1,543.6	1,121.8
Non-U.S. governments
Available-for-sale securities disclosures
Amortized cost	645.6	704.4
Gross unrealized gains	145.3	188.3
Gross unrealized losses	3.2	1.6
Fair value	787.7	891.1
States and political subdivisions
Available-for-sale securities disclosures
Amortized cost	4,245	3,916.8
Gross unrealized gains	231.4	291.3
Gross unrealized losses	20.7	4.1
Fair value	4,455.7	4,204
Corporate debt securities
Available-for-sale securities disclosures
Amortized cost	29,851	29,308.3
Gross unrealized gains	1,866.9	2,442.6
Gross unrealized losses	439.2	215.9
Fair value	31,278.7	31,535
Other-than-temporary impairments in AOCI	4.8	18.4
Residential mortgage-backed pass-through securities
Available-for-sale securities disclosures
Amortized cost	2,572.2	2,702.9
Gross unrealized gains	113	126.3
Gross unrealized losses	5	6.3
Fair value	2,680.2	2,822.9
Commercial mortgage-backed securities
Available-for-sale securities disclosures
Amortized cost	3,808.8	3,896.9
Gross unrealized gains	103	141.5
Gross unrealized losses	50.6	62.9
Fair value	3,861.2	3,975.5
Other-than-temporary impairments in AOCI	81.2	88.9
Collateralized debt obligations
Available-for-sale securities disclosures
Amortized cost	655.9	521.2
Gross unrealized gains	1.2	3.5
Gross unrealized losses	24.1	20.6
Fair value	633	504.1
Other-than-temporary impairments in AOCI	1.3	1.3
Other debt obligations
Available-for-sale securities disclosures
Amortized cost	4,499.4	4,583.4
Gross unrealized gains	60.8	57.5
Gross unrealized losses	19.7	24.5
Fair value	4,540.5	4,616.4
Other-than-temporary impairments in AOCI	60.2	66.9
Equity securities
Available-for-sale securities disclosures
Amortized cost	469.1	125.1
Gross unrealized gains	8.5	7.7
Gross unrealized losses	12.3	9.8
Fair value	$ 465.3	$ 123

Investments (Details 2)

Investments (Details 2) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Amortized cost of fixed maturities available-for-sale
Due in one year or less	$ 2,649.9
Due after one year through five years	13,017
Due after five years through ten years	8,303.2
Due after ten years	12,279.1
Subtotal	36,249.2
Mortgage-backed and other asset-backed securities	11,536.3
Total	47,785.5
Fair value of fixed maturities available-for-sale
Due in one year or less	2,679.5
Due after one year through five years	13,461.3
Due after five years through ten years	8,581.8
Due after ten years	13,343.1
Subtotal	38,065.7
Mortgage-backed and other asset-backed securities	11,714.9
Total	$ 49,780.6	$ 49,670.8

Investments (Details 3)

Investments (Details 3) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Major components of net realized capital gains (losses) on investments
Net impairment (losses) recoveries on available-for-sale securities	$ (7.6)	$ (21.9)	$ (21.1)	$ (64)
Net realized capital gains (losses)	38.4	(46.4)	(10)	41
Mortgage loans
Major components of net realized capital gains (losses) on investments
Realized capital gains (losses)	(1.3)	(12)	(1.4)	(10.6)
Derivatives
Major components of net realized capital gains (losses) on investments
Realized capital gains (losses)	54	(2)	59	1.9
Other investment types
Major components of net realized capital gains (losses) on investments
Realized capital gains (losses)	4.4	(10.6)	(9)	58.8
Available-for-sale | Fixed maturities
Major components of net realized capital gains (losses) on investments
Gross gains	2.5	6	15.7	45
Gross losses	(2.3)	(2.9)	(5.6)	(20.8)
Net impairment (losses) recoveries on available-for-sale securities	(7.6)	(21.7)	(21.4)	(69.5)
Hedging, net	4.7	(21.5)	(31.2)	(20)
Proceeds from sales of investments
Proceeds from sales of investments in fixed maturities, available-for-sale	331.7	437.1	1,213	1,744.6
Available-for-sale | Equity securities
Major components of net realized capital gains (losses) on investments
Gross gains	0.3		0.3	0.2
Gross losses	(1.8)	(0.1)	(1.8)	(0.2)
Net impairment (losses) recoveries on available-for-sale securities		(0.2)	0.3	5.5
Trading | Fixed maturities
Major components of net realized capital gains (losses) on investments
Realized gains (losses) on trading securities	(2.1)	9.5	(6.4)	32
Trading | Equity securities
Major components of net realized capital gains (losses) on investments
Realized gains (losses) on trading securities	$ (12.4)	$ 9.1	$ (8.5)	$ 18.7

Investments (Details 4)

Investments (Details 4) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Other-than-temporary impairment losses, net of recoveries
Net other-than-temporary impairment (losses) recoveries on available-for-sale securities	$ (6.5)	$ (7.3)	$ 6.9	$ 18.5
Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified to (from) other comprehensive income	(1.1)	(14.6)	(28)	(82.5)
Net impairment (losses) recoveries on available-for-sale securities	(7.6)	(21.9)	(21.1)	(64)
Fixed maturities
Other-than-temporary impairment losses, net of recoveries
Net other-than-temporary impairment (losses) recoveries on available-for-sale securities	$ (6.5)	(7.1)	6.6	13
Equity securities
Other-than-temporary impairment losses, net of recoveries
Net other-than-temporary impairment (losses) recoveries on available-for-sale securities		$ (0.2)	$ 0.3	$ 5.5

Investments (Details 5)

Investments (Details 5) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Other-Than-Temporary Impairment Credit Losses Recognized in Net Income - Rollforward
Beginning balance	$ (134.7)	$ (185.7)	$ (144.4)	$ (235.4)
Credit losses for which an other-than-temporary impairment was not previously recognized	(4.3)	(2.2)	(5.9)	(6.1)
Credit losses for which an other-than-temporary impairment was previously recognized	(3.2)	(21)	(11.3)	(65.5)
Reduction for credit losses previously recognized on fixed maturities now sold, paid down or intended to be sold	3.8	18	20	112
Net reduction (increase) for positive changes in cash flows expected to be collected and amortization	2.2	1.5	5.2	5.6
Foreign currency translation adjustment	0.4		0.6
Ending balance	$ (135.8)	$ (189.4)	$ (135.8)	$ (189.4)

Investments (Details 6)

Investments (Details 6) $ in Millions	Sep. 30, 2015USD ($)item	Dec. 31, 2014USD ($)item
Fixed maturities
Gross Unrealized Losses for Fixed Maturities and Equity Securities
Less than twelve months, Fair value	$ 8,357.4	$ 4,991.3
Less than twelve months, Gross unrealized losses	270	87.1
Greater than or equal to twelve months, Fair value	2,250.3	2,886.3
Greater than or equal to twelve months, Gross unrealized losses	296.2	251.7
Total, Fair value	10,607.7	7,877.6
Total, Gross unrealized losses	566.2	338.8
U.S. government and agencies
Gross Unrealized Losses for Fixed Maturities and Equity Securities
Less than twelve months, Fair value	218	211.5
Less than twelve months, Gross unrealized losses	3.5	0.7
Greater than or equal to twelve months, Fair value	39.7	95
Greater than or equal to twelve months, Gross unrealized losses	0.2	2.2
Total, Fair value	257.7	306.5
Total, Gross unrealized losses	3.7	2.9
Non-U.S. governments
Gross Unrealized Losses for Fixed Maturities and Equity Securities
Less than twelve months, Fair value	42	20.3
Less than twelve months, Gross unrealized losses	1.3	1.4
Greater than or equal to twelve months, Fair value	18.6	7.5
Greater than or equal to twelve months, Gross unrealized losses	1.9	0.2
Total, Fair value	60.6	27.8
Total, Gross unrealized losses	3.2	1.6
States and political subdivisions
Gross Unrealized Losses for Fixed Maturities and Equity Securities
Less than twelve months, Fair value	582.4	208.1
Less than twelve months, Gross unrealized losses	20.1	0.7
Greater than or equal to twelve months, Fair value	6.4	210.5
Greater than or equal to twelve months, Gross unrealized losses	0.6	3.4
Total, Fair value	588.8	418.6
Total, Gross unrealized losses	20.7	4.1
Corporate debt securities
Gross Unrealized Losses for Fixed Maturities and Equity Securities
Less than twelve months, Fair value	5,446.5	3,072.1
Less than twelve months, Gross unrealized losses	229.1	76.8
Greater than or equal to twelve months, Fair value	1,223.3	1,238.3
Greater than or equal to twelve months, Gross unrealized losses	210.1	139.1
Total, Fair value	6,669.8	4,310.4
Total, Gross unrealized losses	439.2	215.9
Residential mortgage-backed pass-through securities
Gross Unrealized Losses for Fixed Maturities and Equity Securities
Less than twelve months, Fair value	260.3	18
Less than twelve months, Gross unrealized losses	1.6
Greater than or equal to twelve months, Fair value	154.8	395.3
Greater than or equal to twelve months, Gross unrealized losses	3.4	6.3
Total, Fair value	415.1	413.3
Total, Gross unrealized losses	5	6.3
Commercial mortgage-backed securities
Gross Unrealized Losses for Fixed Maturities and Equity Securities
Less than twelve months, Fair value	682.6	375.3
Less than twelve months, Gross unrealized losses	7.2	3
Greater than or equal to twelve months, Fair value	296	395
Greater than or equal to twelve months, Gross unrealized losses	43.4	59.9
Total, Fair value	978.6	770.3
Total, Gross unrealized losses	50.6	62.9
Collateralized debt obligations
Gross Unrealized Losses for Fixed Maturities and Equity Securities
Less than twelve months, Fair value	372.6	114.8
Less than twelve months, Gross unrealized losses	2.9	1
Greater than or equal to twelve months, Fair value	151.2	112
Greater than or equal to twelve months, Gross unrealized losses	21.2	19.6
Total, Fair value	523.8	226.8
Total, Gross unrealized losses	24.1	20.6
Other debt obligations
Gross Unrealized Losses for Fixed Maturities and Equity Securities
Less than twelve months, Fair value	753	971.2
Less than twelve months, Gross unrealized losses	4.3	3.5
Greater than or equal to twelve months, Fair value	360.3	432.7
Greater than or equal to twelve months, Gross unrealized losses	15.4	21
Total, Fair value	1,113.3	1,403.9
Total, Gross unrealized losses	19.7	24.5
Equity securities
Gross Unrealized Losses for Fixed Maturities and Equity Securities
Less than twelve months, Fair value	0.7	10
Less than twelve months, Gross unrealized losses	0.2
Greater than or equal to twelve months, Fair value	33.7	36
Greater than or equal to twelve months, Gross unrealized losses	12.1	9.8
Total, Fair value	34.4	46
Total, Gross unrealized losses	12.3	9.8
Principal Life Insurance Company | Fixed maturities
Gross Unrealized Losses for Fixed Maturities and Equity Securities
Less than twelve months, Fair value	7,986.8	4,907.1
Less than twelve months, Gross unrealized losses	263.6	85.4
Greater than or equal to twelve months, Fair value	2,113.2	2,731.6
Greater than or equal to twelve months, Gross unrealized losses	274	225.4
Total, Fair value	10,100	7,638.7
Total, Gross unrealized losses	$ 537.6	$ 310.8
Available-for-sale Securities, Continuous Unrealized Loss Position, Qualitative Disclosure
Available-for-sale Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less Than Twelve Months | item	1,038	685
Available-for-sale Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Twelve Months or Longer | item	356	429
Available-for-sale Securities in Unrealized Loss Position, Aggregate Losses On Investment Grade Investments, Less Than Twelve Months	$ 182.4	$ 44.4
Available-for-sale Securities in Unrealized Loss Positions, Qualitative Disclosure, Percent Investment Grade (as a percent)	82.00%	80.00%
Available-for-sale Securities in Unrealized Loss Positions, Qualitative Disclosure, Average Price (percent of carrying value to amortized cost) | item	95	96
Available-for-sale Securities in Unrealized Loss Positions, Percent Investment Grade, Less Than Twelve Months (as a percent)	85.00%	77.00%
Available-for-sale Securities in Unrealized Loss Positions, Average Price, Less Than Twelve Months (percent of carrying value to amortized cost) | item	97	98
Available-for-sale Securities in Unrealized Loss Positions, Average Price, Twelve Months or Longer (percent of carrying value to amortized cost) | item	89	92
Principal Life Insurance Company | Corporate debt securities
Gross Unrealized Losses for Fixed Maturities and Equity Securities
Greater than or equal to twelve months, Gross unrealized losses	$ 189.8	$ 113
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	85	91
Principal Life Insurance Company | Commercial mortgage-backed securities
Gross Unrealized Losses for Fixed Maturities and Equity Securities
Greater than or equal to twelve months, Gross unrealized losses	$ 43.4	$ 59.9
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	87	87

Investments (Details 7)

Investments (Details 7) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Net Unrealized Gains and Losses on Available-for-Sale Securities and Derivative Instruments
Net unrealized gains (losses) on fixed maturities, available-for-sale	$ 2,076.3	$ 3,079.1
Noncredit component of impairment losses on fixed maturities, available-for-sale	(147.5)	(175.5)
Net unrealized gains (losses) on equity securities, available-for-sale	(3.8)	(2.1)
Adjustments for assumed changes in amortization patterns	(211.5)	(346.8)
Adjustments for assumed changes in policyholder liabilities	(542.3)	(1,078.6)
Net unrealized gains (losses) on derivative instruments	188.1	160.1
Net unrealized gains (losses) on equity method subsidiaries and noncontrolling interest adjustments	92.7	88.9
Provision for deferred income tax benefits (taxes)	(484.8)	(576.8)
Net unrealized gains (losses) on available-for-sale securities and derivative instruments	$ 967.2	$ 1,148.3

Investments (Details 8)

Investments (Details 8) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 12,288.7	$ 11,802.9	$ 12,288.7	$ 11,802.9		$ 11,868.1
Mortgage loan valuation allowance	(56.6)	(58)	(56.6)	(58)	$ (55.9)	(56.5)	$ (64.9)	$ (69.8)
Mortgage loans, Total carrying value	12,232.1		12,232.1			11,811.6
Commercial mortgage loans
Mortgage loan disclosures
Mortgage loans, Total amortized cost	11,179.8	10,596.8	11,179.8	10,596.8		10,723.8
Mortgage loan valuation allowance	(30.5)	(27.8)	(30.5)	(27.8)	(28.5)	$ (26.9)	(26.4)	(28.7)
Mortgage loans, purchased	53.9	0	200.8	33.4
Mortgage loans, sold	$ 0	0	$ 1	1.1
Percent of mortgage loans (as a percent)	100.00%		100.00%			100.00%
Commercial mortgage loans | Office
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 3,863.4		$ 3,863.4			$ 3,646.1
Percent of mortgage loans (as a percent)	34.60%		34.60%			34.00%
Commercial mortgage loans | Retail
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 2,633.8		$ 2,633.8			$ 2,512.1
Percent of mortgage loans (as a percent)	23.60%		23.60%			23.40%
Commercial mortgage loans | Industrial
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 1,839.7		$ 1,839.7			$ 1,918.7
Percent of mortgage loans (as a percent)	16.50%		16.50%			17.90%
Commercial mortgage loans | Apartments
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 2,379.8		$ 2,379.8			$ 2,200.5
Percent of mortgage loans (as a percent)	21.30%		21.30%			20.50%
Commercial mortgage loans | Hotel
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 323.1		$ 323.1			$ 331.5
Percent of mortgage loans (as a percent)	2.80%		2.80%			3.10%
Commercial mortgage loans | Mixed use/other
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 140		$ 140			$ 114.9
Percent of mortgage loans (as a percent)	1.20%		1.20%			1.10%
Commercial mortgage loans | New England
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 522.4		$ 522.4			$ 528
Percent of mortgage loans (as a percent)	4.70%		4.70%			4.90%
Commercial mortgage loans | Middle Atlantic
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 3,149.7		$ 3,149.7			$ 2,951
Percent of mortgage loans (as a percent)	28.20%		28.20%			27.50%
Commercial mortgage loans | East North Central
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 444.1		$ 444.1			$ 442.1
Percent of mortgage loans (as a percent)	4.00%		4.00%			4.10%
Commercial mortgage loans | West North Central
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 275.8		$ 275.8			$ 233.3
Percent of mortgage loans (as a percent)	2.50%		2.50%			2.20%
Commercial mortgage loans | South Atlantic
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 2,004.5		$ 2,004.5			$ 1,970.9
Percent of mortgage loans (as a percent)	17.90%		17.90%			18.40%
Commercial mortgage loans | East South Central
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 214.9		$ 214.9			$ 197.4
Percent of mortgage loans (as a percent)	1.90%		1.90%			1.80%
Commercial mortgage loans | West South Central
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 1,079.5		$ 1,079.5			$ 1,023.9
Percent of mortgage loans (as a percent)	9.70%		9.70%			9.50%
Commercial mortgage loans | Mountain
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 879.7		$ 879.7			$ 772
Percent of mortgage loans (as a percent)	7.90%		7.90%			7.20%
Commercial mortgage loans | Pacific
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 2,545.6		$ 2,545.6			$ 2,565.5
Percent of mortgage loans (as a percent)	22.70%		22.70%			24.00%
Commercial mortgage loans | International
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 63.6		$ 63.6			$ 39.7
Percent of mortgage loans (as a percent)	0.50%		0.50%			0.40%
Residential mortgage loans
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 1,108.9	1,206.1	$ 1,108.9	1,206.1		$ 1,144.3
Mortgage loan valuation allowance	(26.1)	(30.2)	(26.1)	(30.2)	$ (27.4)	(29.6)	$ (38.5)	$ (41.1)
Mortgage loans, purchased	73.2	35.6	216.3	115.7
Mortgage loans, sold	17.5	$ 0	60.3	$ 0
Home equity
Mortgage loan disclosures
Mortgage loans, Total amortized cost	234.1		234.1			283.4
First liens
Mortgage loan disclosures
Mortgage loans, Total amortized cost	$ 874.8		$ 874.8			$ 860.9

Investments (Details 9)

Investments (Details 9) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	$ 12,288.7	$ 11,868.1	$ 11,802.9
Commercial mortgage loans
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	11,179.8	10,723.8	10,596.8
Commercial mortgage loans | A- and above
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	9,942.7	9,284.6
Commercial mortgage loans | BBB+ thru BBB-
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	1,038	1,219.5
Commercial mortgage loans | BB+ thru BB-
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	152.8	148.3
Commercial mortgage loans | B+ and below
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	46.3	71.4
Brick and mortar
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	10,864.2	10,374.9
Brick and mortar | A- and above
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	9,755.2	9,115.8
Brick and mortar | BBB+ thru BBB-
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	910.7	1,041
Brick and mortar | BB+ thru BB-
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	152.7	148.3
Brick and mortar | B+ and below
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	45.6	69.8
Credit tenant loans
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	315.6	348.9
Credit tenant loans | A- and above
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	187.5	168.8
Credit tenant loans | BBB+ thru BBB-
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	127.3	178.5
Credit tenant loans | BB+ thru BB-
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	0.1
Credit tenant loans | B+ and below
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	0.7	1.6
Residential mortgage loans
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	1,108.9	1,144.3	$ 1,206.1
Residential mortgage loans | Performing
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	1,085.3	1,116
Residential mortgage loans | Nonperforming
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	$ 23.6	$ 28.3
Mortgage loans, Days delinquent to be considered nonperforming	90 days	90 days
Home equity
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	$ 234.1	$ 283.4
Home equity | Performing
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	222.2	268.4
Home equity | Nonperforming
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	11.9	15
First liens
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	874.8	860.9
First liens | Performing
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	863.1	847.6
First liens | Nonperforming
Mortgage loan credit quality disclosures
Mortgage loans, Total amortized cost	$ 11.7	$ 13.3

Investments (Details 10)

Investments (Details 10) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Mortgage loan non-accrual and aging disclosures
Mortgage loans, Non-accrual status	$ 51.2	$ 33.4
Past due	70.8	55.4
Current	12,217.9	11,812.7
Mortgage loans, Total amortized cost	12,288.7	11,868.1	$ 11,802.9
Recorded investment 90 days or more past due and accruing	4.1	4.5
30 to 59 Days Past Due
Mortgage loan non-accrual and aging disclosures
Past due	48.2	26.5
60 to 89 Days Past Due
Mortgage loan non-accrual and aging disclosures
Past due	6.3	12.7
90 Days or More Past Due
Mortgage loan non-accrual and aging disclosures
Past due	16.3	16.2
Commercial mortgage loans
Mortgage loan non-accrual and aging disclosures
Mortgage loans, Total amortized cost	11,179.8	10,723.8	10,596.8
Brick and mortar
Mortgage loan non-accrual and aging disclosures
Mortgage loans, Non-accrual status	31.7	9.6
Past due	31.8	5.2
Current	10,832.4	10,369.7
Mortgage loans, Total amortized cost	10,864.2	10,374.9
Brick and mortar | 30 to 59 Days Past Due
Mortgage loan non-accrual and aging disclosures
Past due	27.4
Brick and mortar | 60 to 89 Days Past Due
Mortgage loan non-accrual and aging disclosures
Past due		4.5
Brick and mortar | 90 Days or More Past Due
Mortgage loan non-accrual and aging disclosures
Past due	4.4	0.7
Credit tenant loans
Mortgage loan non-accrual and aging disclosures
Current	315.6	348.9
Mortgage loans, Total amortized cost	315.6	348.9
Residential mortgage loans
Mortgage loan non-accrual and aging disclosures
Mortgage loans, Total amortized cost	1,108.9	1,144.3	$ 1,206.1
Home equity
Mortgage loan non-accrual and aging disclosures
Mortgage loans, Non-accrual status	11.9	15
Past due	3.9	6.9
Current	230.2	276.5
Mortgage loans, Total amortized cost	234.1	283.4
Home equity | 30 to 59 Days Past Due
Mortgage loan non-accrual and aging disclosures
Past due	1.9	2.3
Home equity | 60 to 89 Days Past Due
Mortgage loan non-accrual and aging disclosures
Past due	0.5	1.2
Home equity | 90 Days or More Past Due
Mortgage loan non-accrual and aging disclosures
Past due	1.5	3.4
First liens
Mortgage loan non-accrual and aging disclosures
Mortgage loans, Non-accrual status	7.6	8.8
Past due	35.1	43.3
Current	839.7	817.6
Mortgage loans, Total amortized cost	874.8	860.9
Recorded investment 90 days or more past due and accruing	4.1	4.5
First liens | 30 to 59 Days Past Due
Mortgage loan non-accrual and aging disclosures
Past due	18.9	24.2
First liens | 60 to 89 Days Past Due
Mortgage loan non-accrual and aging disclosures
Past due	5.8	7
First liens | 90 Days or More Past Due
Mortgage loan non-accrual and aging disclosures
Past due	$ 10.4	$ 12.1

Investments (Details 11)

Investments (Details 11) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Changes in mortgage loan valuation allowance
Beginning balance, Mortgage loan valuation allowance	$ 55.9	$ 64.9	$ 56.5	$ 69.8
Provision: Mortgage loan valuation allowance	1	7.9	5	6.7
Charge-offs: Mortgage loan valuation allowance	(1)	(15.1)	(7.5)	(21.1)
Recoveries: Mortgage loan valuation allowance	0.8	0.3	2.7	2.7
Effect of exchange rates: Mortgage loan valuation allowance	(0.1)		(0.1)	(0.1)
Ending balance, Mortgage loan valuation allowance	56.6	58	56.6	58
Individually evaluated for impairment, Mortgage loan valuation allowance	11.5	12.5	11.5	12.5
Collectively evaluated for impairment, Mortgage loan valuation allowance	45.1	45.5	45.1	45.5
Individually evaluated for impairment, Mortgage loans	29.1	39.4	29.1	39.4
Collectively evaluated for impairment, Mortgage loans	12,259.6	11,763.5	12,259.6	11,763.5
Mortgage loans, Total amortized cost	12,288.7	11,802.9	$ 12,288.7	11,802.9	$ 11,868.1
Commercial mortgage loans
Mortgage loan valuation allowance disclosures
Mortgage loans, Days delinquent to be analyzed for valuation allowance			60 days
Changes in mortgage loan valuation allowance
Beginning balance, Mortgage loan valuation allowance	28.5	26.4	$ 26.9	28.7
Provision: Mortgage loan valuation allowance	2	1.4	3.5	(0.6)
Charge-offs: Mortgage loan valuation allowance				(0.3)
Recoveries: Mortgage loan valuation allowance			0.1
Ending balance, Mortgage loan valuation allowance	30.5	27.8	30.5	27.8
Individually evaluated for impairment, Mortgage loan valuation allowance	3.5	3.1	3.5	3.1
Collectively evaluated for impairment, Mortgage loan valuation allowance	27	24.7	27	24.7
Individually evaluated for impairment, Mortgage loans	4.4	9.8	4.4	9.8
Collectively evaluated for impairment, Mortgage loans	11,175.4	10,587	11,175.4	10,587
Mortgage loans, Total amortized cost	11,179.8	10,596.8	11,179.8	10,596.8	10,723.8
Residential mortgage loans
Changes in mortgage loan valuation allowance
Beginning balance, Mortgage loan valuation allowance	27.4	38.5	29.6	41.1
Provision: Mortgage loan valuation allowance	(1)	6.5	1.5	7.3
Charge-offs: Mortgage loan valuation allowance	(1)	(15.1)	(7.5)	(20.8)
Recoveries: Mortgage loan valuation allowance	0.8	0.3	2.6	2.7
Effect of exchange rates: Mortgage loan valuation allowance	(0.1)		(0.1)	(0.1)
Ending balance, Mortgage loan valuation allowance	26.1	30.2	26.1	30.2
Individually evaluated for impairment, Mortgage loan valuation allowance	8	9.4	8	9.4
Collectively evaluated for impairment, Mortgage loan valuation allowance	18.1	20.8	18.1	20.8
Individually evaluated for impairment, Mortgage loans	24.7	29.6	24.7	29.6
Collectively evaluated for impairment, Mortgage loans	1,084.2	1,176.5	1,084.2	1,176.5
Mortgage loans, Total amortized cost	$ 1,108.9	$ 1,206.1	$ 1,108.9	$ 1,206.1	$ 1,144.3

Investments (Details 12)

Investments (Details 12) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Commercial mortgage loans
Impaired mortgage loans
Recorded investment in impaired mortgage loans	$ 4.4		$ 4.4		$ 9.6
Unpaid principal balance of impaired mortgage loans	4.4		4.4		11.1
Related allowance for impaired mortgage loans	3.5		3.5		2.4
Average investment in impaired mortgage loans	4.4	$ 8	7	$ 18.3
Interest income recognized on impaired mortgage loans		0.1	0.2	0.3
Brick and mortar
Impaired mortgage loans
Recorded investment in impaired mortgage loans with no related allowance					5.2
Recorded investment in impaired mortgage loans with related allowance	4.4		4.4		4.4
Unpaid principal balance of impaired mortgage loans with no related allowance					6.7
Unpaid principal balance of impaired mortgage loans with related allowance	4.4		4.4		4.4
Related allowance for impaired mortgage loans	3.5		3.5		2.4
Average investment in impaired mortgage loans with no related allowance		0.9	2.6	11.2
Average investment in impaired mortgage loans with related allowance	4.4	7.1	4.4	7.1
Interest income recognized on impaired mortgage loans with no related allowance				0.1
Interest income recognized on impaired mortgage loans with related allowance		0.1	0.2	0.2
Residential mortgage loans
Impaired mortgage loans
Recorded investment in impaired mortgage loans	24.7		24.7		27.1
Unpaid principal balance of impaired mortgage loans	25.5		25.5		27.7
Related allowance for impaired mortgage loans	8		8		9
Average investment in impaired mortgage loans	25.4	30.1	26	31.4
Interest income recognized on impaired mortgage loans	0.1	0.2	0.4	0.6
Home equity
Impaired mortgage loans
Recorded investment in impaired mortgage loans with related allowance	14.4		14.4		16.5
Unpaid principal balance of impaired mortgage loans with related allowance	15.4		15.4		17.1
Related allowance for impaired mortgage loans	7.4		7.4		8.2
Average investment in impaired mortgage loans with related allowance	14.9	18	15.5	18.6
Interest income recognized on impaired mortgage loans with related allowance	0.1	0.2	0.3	0.5
First liens
Impaired mortgage loans
Recorded investment in impaired mortgage loans with no related allowance	3.2		3.2		3.4
Recorded investment in impaired mortgage loans with related allowance	7.1		7.1		7.2
Unpaid principal balance of impaired mortgage loans with no related allowance	3.2		3.2		3.4
Unpaid principal balance of impaired mortgage loans with related allowance	6.9		6.9		7.2
Related allowance for impaired mortgage loans	0.6		0.6		$ 0.8
Average investment in impaired mortgage loans with no related allowance	3.6	4.1	3.3	4.3
Average investment in impaired mortgage loans with related allowance	$ 6.9	$ 8	7.2	8.5
Interest income recognized on impaired mortgage loans with related allowance			$ 0.1	$ 0.1

Investments (Details 13)

Investments (Details 13) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015item	Sep. 30, 2014USD ($)item	Sep. 30, 2015USD ($)item	Sep. 30, 2014USD ($)item
Mortgage Loan Modifications
Number of mortgage loans modified as a troubled debt restructuring	2	39	13	80
Recorded investment of mortgage loans modified as a troubled debt restructuring | $		$ 7	$ 0.5	$ 13.5
Number of mortgage loans modified as a troubled debt restructuring in payment default	1	2	2	4
Recorded investment of mortgage loans modified as a troubled debt restructuring in payment default | $		$ 0.7		$ 0.7
Brick and mortar
Mortgage Loan Modifications
Number of mortgage loans modified as a troubled debt restructuring		2		4
Recorded investment of mortgage loans modified as a troubled debt restructuring | $		$ 5.4		$ 10.5
Number of mortgage loans modified as a troubled debt restructuring in payment default		1		1
Recorded investment of mortgage loans modified as a troubled debt restructuring in payment default | $		$ 0.7		$ 0.7
Home equity
Mortgage Loan Modifications
Number of mortgage loans modified as a troubled debt restructuring	2	37	13	75
Recorded investment of mortgage loans modified as a troubled debt restructuring | $		$ 1.6	$ 0.5	$ 2.9
Number of mortgage loans modified as a troubled debt restructuring in payment default	1	1	2	3
First liens
Mortgage Loan Modifications
Number of mortgage loans modified as a troubled debt restructuring				1
Recorded investment of mortgage loans modified as a troubled debt restructuring | $				$ 0.1

Investments (Details 14)

Investments (Details 14) $ in Millions	Sep. 30, 2015USD ($)
Securities Posted as Collateral
Fixed maturity 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 the Federal Home Loan Bank of Des Moines	$ 947.7
Commercial mortgage loans and home equity mortgages posted as collateral associated with obligation under funding agreements with the Federal Home Loan Bank of Des Moines	2,480.2
Securities posted as collateral eligible to be sold or repledged	$ 110

Investments (Details 15)

Investments (Details 15) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Financial Asset Offsetting
Gross amount of recognized assets subject to netting agreements	$ 892.8	$ 713.3
Amount of liabilities that offset the gross amount of assets subject to netting agreements not offset in statement of financial position	(511.6)	(479.5)
Collateral received, financial assets	(364.6)	(220.5)
Net amount of assets subject to netting agreements	16.6	13.3
Derivative assets
Financial Asset Offsetting
Gross amount of recognized assets subject to netting agreements	820.2	661.8
Amount of liabilities that offset the gross amount of assets subject to netting agreements not offset in statement of financial position	(511.6)	(479.5)
Collateral received, financial assets	(292)	(169)
Net amount of assets subject to netting agreements	16.6	13.3
Gross amount of assets not subject to netting agreements	1.1	0
Reverse repurchase agreements
Financial Asset Offsetting
Gross amount of recognized assets subject to netting agreements	72.6	51.5
Collateral received, financial assets	$ (72.6)	$ (51.5)

Investments (Details 16)

Investments (Details 16) - Derivative liabilities - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Financial Liability Offsetting
Gross amount of recognized liabilities subject to netting agreements	$ 805.2	$ 786
Amount of assets that offset the gross amount of liabilities subject to netting agreements not offset in statement of financial position	(511.6)	(479.5)
Collateral pledged, financial liabilities	(164.5)	(220.6)
Net amount of liabilities subject to netting agreements	129.1	85.9
Gross amount of liabilities not subject to netting agreements	$ 458.7	$ 421.3

Derivative Financial Instrume55

Derivative Financial Instruments (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Derivative Financial Instruments, exposure
Cash and securities posted under collateral arrangements associated with derivative credit support agreements and Futures Commission Merchant agreements	$ 249	$ 271.6
Aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a liability position	585.8	656.2
Collateral and initial margin posted supporting derivatives with credit-risk-related contingent features that were in a liability position	249	271.6
Additional collateral required to be posted if derivative credit-risk-related contingent features were triggered	90.4
Cash collateral received associated with derivative credit support annex agreements and Futures Commission Merchant agreements	273.9	148.3
Notional amount	45,054.4	41,098.5
Gross credit exposure	875	693.8
Less: collateral received	308.4	183.5
Net credit exposure	566.6	510.3
Interest rate swaps
Derivative Financial Instruments, exposure
Cash exchanged under contract	0
Principal payments made under contract	0
Notional amount	21,931	19,182.6
Gross credit exposure	632.9	510.8
Interest rate options
Derivative Financial Instruments, exposure
Notional amount	4,900	4,900
Gross credit exposure	40.1	41
Swaptions
Derivative Financial Instruments, exposure
Notional amount	159	260
Interest rate futures
Derivative Financial Instruments, exposure
Notional amount	173.5	147.5
Currency swaps
Derivative Financial Instruments, exposure
Notional amount	1,831.6	1,975.5
Gross credit exposure	112.6	97.1
Currency forwards
Derivative Financial Instruments, exposure
Notional amount	963	270.7
Gross credit exposure	3.9	1.4
Equity options
Derivative Financial Instruments, exposure
Notional amount	3,558.2	3,293.4
Gross credit exposure	72.4	30.2
Equity futures
Derivative Financial Instruments, exposure
Notional amount	563.4	498.1
Credit default swaps
Derivative Financial Instruments, exposure
Notional amount	1,095.9	1,234.5
Gross credit exposure	13.1	13.3
Total return swaps
Derivative Financial Instruments, exposure
Notional amount	90	90
Credit Futures
Derivative Financial Instruments, exposure
Notional amount	15.6	10.5
Embedded derivative financial instruments
Derivative Financial Instruments, exposure
Notional amount	$ 9,773.2	$ 9,235.7

Derivative Financial Instrume56

Derivative Financial Instruments (Details 2) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Derivatives, fair value disclosures
Total derivative instruments, assets	$ 821.3	$ 661.8
Total derivative instruments, liabilities	1,263.9	1,207.3
Fair value of embedded derivative liabilities reported with contractholder funds	210.3	176.4
Derivatives designated as hedging instrument
Derivatives, fair value disclosures
Total derivative instruments, assets	120.7	88.8
Total derivative instruments, liabilities	308.7	263
Derivatives not designated as hedging instrument
Derivatives, fair value disclosures
Total derivative instruments, assets	700.6	573
Total derivative instruments, liabilities	955.2	944.3
Interest rate contracts | Derivatives designated as hedging instrument
Derivatives, fair value disclosures
Total derivative instruments, assets	15.7	8.8
Total derivative instruments, liabilities	162.2	193.9
Interest rate contracts | Derivatives not designated as hedging instrument
Derivatives, fair value disclosures
Total derivative instruments, assets	597.8	508.7
Total derivative instruments, liabilities	314.1	321.4
Foreign exchange contracts | Derivatives designated as hedging instrument
Derivatives, fair value disclosures
Total derivative instruments, assets	105	80
Total derivative instruments, liabilities	146.5	69.1
Foreign exchange contracts | Derivatives not designated as hedging instrument
Derivatives, fair value disclosures
Total derivative instruments, assets	17.2	20.8
Total derivative instruments, liabilities	63.8	40.1
Equity contracts | Derivatives not designated as hedging instrument
Derivatives, fair value disclosures
Total derivative instruments, assets	72.5	30.2
Total derivative instruments, liabilities	91.7	131.7
Credit contracts | Derivatives not designated as hedging instrument
Derivatives, fair value disclosures
Total derivative instruments, assets	13.1	13.3
Total derivative instruments, liabilities	38.7	35.6
Other contracts | Derivatives not designated as hedging instrument
Derivatives, fair value disclosures
Total derivative instruments, liabilities	$ 446.9	$ 415.5

Derivative Financial Instrume57

Derivative Financial Instruments (Details 3) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Credit derivatives sold disclosures
Reduction in total maximum future payments due to purchased credit protection	$ 0	$ 10
Net asset (liability) fair value of purchased credit derivative transactions	0	(0.1)
Credit default swaps
Credit derivatives sold disclosures
Notional amount	882.7	945.8
Fair value	(22.7)	(12.2)
Maximum future payments	$ 882.7	$ 945.8
Weighted average expected life	2 years 9 months 18 days	3 years 3 months 18 days
Single name credit default swaps
Credit derivatives sold disclosures
Notional amount	$ 738.5	$ 798.5
Fair value	0.9	8.6
Maximum future payments	$ 738.5	$ 798.5
Weighted average expected life	3 years	3 years 6 months
Single name credit default swaps | Corporate debt securities | AAA
Credit derivatives sold disclosures
Notional amount	$ 30	$ 30
Fair value	0.8	1
Maximum future payments	$ 30	$ 30
Weighted average expected life	3 years 6 months	4 years 2 months 12 days
Single name credit default swaps | Corporate debt securities | AA
Credit derivatives sold disclosures
Notional amount	$ 74	$ 79
Fair value	1.2	1.6
Maximum future payments	$ 74	$ 79
Weighted average expected life	2 years 6 months	3 years 3 months 18 days
Single name credit default swaps | Corporate debt securities | A
Credit derivatives sold disclosures
Notional amount	$ 204.5	$ 254.5
Fair value	2.9	3.3
Maximum future payments	$ 204.5	$ 254.5
Weighted average expected life	2 years 4 months 24 days	2 years 9 months 18 days
Single name credit default swaps | Corporate debt securities | BBB
Credit derivatives sold disclosures
Notional amount	$ 340	$ 345
Fair value	(1.3)	1.2
Maximum future payments	$ 340	$ 345
Weighted average expected life	3 years 2 months 12 days	3 years 7 months 6 days
Single name credit default swaps | Corporate debt securities | BB
Credit derivatives sold disclosures
Notional amount	$ 10	$ 10
Fair value	(2.1)	0.9
Maximum future payments	$ 10	$ 10
Weighted average expected life	4 years 2 months 12 days	5 years
Single name credit default swaps | Government/municipalities | AA
Credit derivatives sold disclosures
Notional amount	$ 30	$ 30
Fair value	0.6	0.6
Maximum future payments	$ 30	$ 30
Weighted average expected life	3 years 7 months 6 days	4 years 3 months 18 days
Single name credit default swaps | Sovereign | AA
Credit derivatives sold disclosures
Notional amount	$ 10	$ 10
Fair value	(0.1)	0.1
Maximum future payments	$ 10	$ 10
Weighted average expected life	4 years	4 years 8 months 12 days
Single name credit default swaps | Sovereign | BBB
Credit derivatives sold disclosures
Notional amount	$ 40	$ 40
Fair value	(1.1)	(0.1)
Maximum future payments	$ 40	$ 40
Weighted average expected life	4 years	4 years 8 months 12 days
Basket and index credit default swaps
Credit derivatives sold disclosures
Notional amount	$ 144.2	$ 147.3
Fair value	(23.6)	(20.8)
Maximum future payments	$ 144.2	$ 147.3
Weighted average expected life	1 year 6 months	2 years 6 months
Basket and index credit default swaps | Corporate debt securities | Near default
Credit derivatives sold disclosures
Notional amount	$ 100.4	$ 100.4
Fair value	(22.5)	(19.1)
Maximum future payments	$ 100.4	$ 100.4
Weighted average expected life	1 year 6 months	2 years 2 months 12 days
Notional amount of derivative whose credit risk is borne by third party investors	$ 78	$ 78
Basket and index credit default swaps | Government/municipalities | AA
Credit derivatives sold disclosures
Notional amount	30	30
Fair value	(1.2)	(1.8)
Maximum future payments	$ 30	$ 30
Weighted average expected life	2 years	2 years 8 months 12 days
Basket and index credit default swaps | Structured finance | AAA
Credit derivatives sold disclosures
Notional amount	$ 13.8
Fair value	0.1
Maximum future payments	$ 13.8
Weighted average expected life	10 months 24 days
Basket and index credit default swaps | Structured finance | BBB
Credit derivatives sold disclosures
Notional amount		$ 16.9
Fair value		0.1
Maximum future payments		$ 16.9
Weighted average expected life		3 years 6 months

Derivative Financial Instrume58

Derivative Financial Instruments (Details 4) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Derivative Financial Instruments
Future potential payments in the event of default of an investment in fixed maturity securities that contain embedded credit derivatives	$ 0
Hybrid instruments disclosures
Amortized cost	100.7	$ 95.5
Carrying value	$ 100.7	$ 95.5
Weighted average expected life	1 year 6 months	2 years
Corporate debt securities
Hybrid instruments disclosures
Amortized cost	$ 24.4	$ 24.1
Carrying value	$ 24.4	$ 24.1
Weighted average expected life	1 year 3 months 18 days	2 years
Corporate debt securities | A
Hybrid instruments disclosures
Amortized cost	$ 24.4	$ 24.1
Carrying value	$ 24.4	$ 24.1
Weighted average expected life	1 year 3 months 18 days	2 years
Structured finance
Hybrid instruments disclosures
Amortized cost	$ 76.3	$ 71.4
Carrying value	$ 76.3	$ 71.4
Weighted average expected life	1 year 6 months	2 years 1 month 6 days
Structured finance | A
Hybrid instruments disclosures
Amortized cost	$ 62.1	$ 56.1
Carrying value	$ 62.1	$ 56.1
Weighted average expected life	1 year 1 month 6 days	1 year 6 months
Structured finance | BB
Hybrid instruments disclosures
Amortized cost	$ 5.8	$ 5.8
Carrying value	$ 5.8	$ 5.8
Weighted average expected life	1 year 7 months 6 days	2 years 8 months 12 days
Structured finance | CCC
Hybrid instruments disclosures
Amortized cost	$ 8.4	$ 9.5
Carrying value	$ 8.4	$ 9.5
Weighted average expected life	4 years 9 months 18 days	4 years 8 months 12 days

Derivative Financial Instrume59

Derivative Financial Instruments (Details 5) - Fair Value Hedges - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Effect of derivatives in fair value hedging relationships and the related hedged items on the consolidated statements of operations
Amount of gain (loss) recognized in net income on derivatives	$ (4.6)	$ 19.1	$ 18.8	$ 31.4
Amount of gain (loss) recognized in net income on related hedged item	4.3	(19)	(18.6)	(32.5)
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	(17.6)	(22.2)	(56.9)	(71.5)
Gain (loss) on periodic settlements on interest rate and foreign exchange contracts in fair value hedge of investment-type insurance contracts reported in benefits, claims and settlement expenses	0.9	1	2.8	3.4
Interest rate contracts | Fixed maturities, available-for-sale
Effect of derivatives in fair value hedging relationships and the related hedged items on the consolidated statements of operations
Amount of gain (loss) recognized in net income on derivatives	(7)	18.5	11.1	27.2
Amount of gain (loss) recognized in net income on related hedged item	6.7	(18.3)	(11)	(28.4)
Interest rate contracts | Investment-type insurance contracts
Effect of derivatives in fair value hedging relationships and the related hedged items on the consolidated statements of operations
Amount of gain (loss) recognized in net income on derivatives	2.4	(2.4)	3.9	0.2
Amount of gain (loss) recognized in net income on related hedged item	$ (2.4)	2.4	(3.8)	(0.1)
Foreign exchange contracts | Fixed maturities, available-for-sale
Effect of derivatives in fair value hedging relationships and the related hedged items on the consolidated statements of operations
Amount of gain (loss) recognized in net income on derivatives		3	3.8	3.8
Amount of gain (loss) recognized in net income on related hedged item		$ (3.1)	$ (3.8)	(3.8)
Foreign exchange contracts | Investment-type insurance contracts
Effect of derivatives in fair value hedging relationships and the related hedged items on the consolidated statements of operations
Amount of gain (loss) recognized in net income on derivatives				0.2
Amount of gain (loss) recognized in net income on related hedged item				$ (0.2)

Derivative Financial Instrume60

Derivative Financial Instruments (Details 6) - Cash Flow Hedges - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Effect of derivatives in cash flow 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			4 years 8 months 12 days
Gross unrealized gains (losses) reported in accumulated OCI related to active hedges of forecasted transactions	$ 53.1		$ 53.1
Gross unrealized gains (losses) reclassified from accumulated OCI into net income due to forecasted transaction probable of not occurring			0	$ 0
Amount of gain (loss) recognized in accumulated OCI on derivatives (effective portion)	24.6	$ 54.9	50.3	67.6
Amount of gain (loss) reclassified from accumulated OCI on derivatives (effective portion)	4.3	1.8	22.1	(6.3)
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	1.5	1.1	4.6	3.9
Gain (loss) on periodic settlements on interest rate and foreign exchange contracts in cash flow hedge of investment-type insurance contracts reported in benefits, claims and settlement expenses	(4.8)	(2.6)	(13.5)	(8.4)
Net gains (losses) expected to be reclassified from accumulated OCI into net income in the next 12 months			(1.3)
Interest rate contracts | Fixed maturities, available-for-sale | Net investment income
Effect of derivatives in cash flow 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)	12.6	8.8	23.7	10.8
Amount of gain (loss) reclassified from accumulated OCI on derivatives (effective portion)	4.4	3.5	12.3	10.1
Interest rate contracts | Investment-type insurance contracts | Benefits, claims and settlement expenses
Effect of derivatives in cash flow 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)	1.1	0.2	3.4	2.6
Interest rate contracts | Hedged debt | Operating expense
Effect of derivatives in cash flow 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)	(2.1)	(1.9)	(6.1)	(5.5)
Foreign exchange contracts | Net realized capital gains (losses)
Effect of derivatives in cash flow hedging relationships and the related hedged items on the consolidated statements of operations
Gain (loss) resulting from the ineffective portion in cash flow hedging relationships	0	0.1	0.1	0
Foreign exchange contracts | Fixed maturities, available-for-sale | Net realized capital gains (losses)
Effect of derivatives in cash flow 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)	11.4	44.6	24.9	44.4
Amount of gain (loss) reclassified from accumulated OCI on derivatives (effective portion)	2	0.2	15.9	(10.9)
Foreign exchange contracts | Investment-type insurance contracts | Benefits, claims and settlement expenses
Effect of derivatives in cash flow 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)	$ (0.5)	$ 1.3	$ (1.7)	$ 9.8

Derivative Financial Instrume61

Derivative Financial Instruments (Details 7) - Net investment hedges - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015
Effect of derivatives on the consolidated financial statements
Amount of gain (loss) recognized in accumulated OCI on derivatives (effective portion)	$ 1.7	$ 1.7
Foreign exchange contracts
Effect of derivatives on the consolidated financial statements
Amount of gain (loss) recognized in accumulated OCI on derivatives (effective portion)	$ 1.7	$ 1.7

Derivative Financial Instrume62

Derivative Financial Instruments (Details 8) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Effect of derivatives not designated as hedging instruments on the consolidated statements of operations
Amount of gain (loss) recognized in net income on derivatives	$ 54.6	$ (51.4)	$ 16.4	$ (41.1)
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	150.8	38.3	84.7	134.7
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	(27)	(43.7)	(39.2)	(56.6)
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	39.7	37.7	7.5	0.1
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	(11)	(21.7)	2.4	(10.8)
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	$ (97.9)	$ (62)	$ (39)	$ (108.5)

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($)	Sep. 30, 2015	May. 07, 2015	Dec. 31, 2014
Long-Term Debt
Long-term debt	$ 3,286,100,000		$ 2,531,200,000
1.85% notes payable, due 2017
Long-Term Debt
Long-term debt interest rate (as a percent)	1.85%		1.85%
Long-term debt	$ 299,900,000		$ 299,800,000
8.875% notes payable, due 2019
Long-Term Debt
Long-term debt interest rate (as a percent)	8.875%		8.875%
Long-term debt	$ 350,000,000		$ 350,000,000
3.3% notes payable, due 2022
Long-Term Debt
Long-term debt interest rate (as a percent)	3.30%		3.30%
Long-term debt	$ 299,200,000		$ 299,100,000
3.125% notes payable, due 2023
Long-Term Debt
Long-term debt interest rate (as a percent)	3.125%		3.125%
Long-term debt	$ 299,700,000		$ 299,600,000
3.4% notes payable, due 2025
Long-Term Debt
Long-term debt interest rate (as a percent)	3.40%
Long-term debt	$ 398,800,000
3.4% notes payable, due 2025 | Senior notes
Long-Term Debt
Long-term debt interest rate (as a percent)		3.40%
Long-term debt issued		$ 400,000,000
6.05% notes payable, due 2036
Long-Term Debt
Long-term debt interest rate (as a percent)	6.05%		6.05%
Long-term debt	$ 601,600,000		$ 601,600,000
4.625% notes payable, due 2042
Long-Term Debt
Long-term debt interest rate (as a percent)	4.625%		4.625%
Long-term debt	$ 299,500,000		$ 299,500,000
4.35% notes payable, due 2043
Long-Term Debt
Long-term debt interest rate (as a percent)	4.35%		4.35%
Long-term debt	$ 299,300,000		$ 299,300,000
4.7% notes payable, due 2055
Long-Term Debt
Long-term debt interest rate (as a percent)	4.70%
Long-term debt	$ 400,000,000
4.7% notes payable, due 2055 | Junior subordinated notes
Long-Term Debt
Long-term debt interest rate (as a percent)		4.70%
Long-term debt issued		$ 400,000,000
Reference rate for floating rate of debt instrument		3-month LIBOR
Spread added to floating reference interest rate (as a percent)		3.044%
4.7% notes payable, due 2055 | Junior subordinated notes | Maximum
Long-Term Debt
Years interest payments on debt can be deferred	5 years
Non-recourse mortgages and notes payable
Long-Term Debt
Long-term debt	$ 38,100,000		$ 82,300,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2015	Mar. 31, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Income Taxes
U.S. corporate statutory income tax rate (as a percent)	35.00%		35.00%	35.00%	35.00%
Impact of court ruling on uncertain tax positions		$ (30.3)		$ (30.3)	$ (47.5)
Changes in Unrecognized Tax Benefits
Beginning balance, Unrecognized tax benefits		$ 172.4		172.4	$ 108.9	$ 108.9
Additions based on tax positions related to the current year				11		12.9
Additions for tax positions of prior years				46.7		62.5
Reductions for tax positions related to the current year				(7.1)		(8.4)
Reductions for tax positions of prior years				(3.5)		(0.2)
Settlements						(3.3)
Ending balance, Unrecognized tax benefits	$ 219.5			219.5		172.4
Amount of unrecognized tax benefits that would reduce the effective income tax rate, if recognized	81			81
Accumulated pre-tax interest and penalties related to unrecognized tax benefits	$ 137.4			$ 137.4		$ 100.4

Employee and Agent Benefits (De

Employee and Agent Benefits (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Contributions
Minimum annual contribution required in current fiscal year for qualified pension plan			$ 0
The high end of the range of possible contributions to be made during the current fiscal year to the qualified and nonqualified pension plans combined	$ 150		150
Contributions made by employer to fund qualified and nonqualified pension plans	25.2		67.8
Pension benefits
Components of Net Periodic Benefit Cost (Income)
Service cost	15.8	$ 13.5	47.4	$ 40.5
Interest cost	30	29.2	90.2	87.8
Expected return on plan assets	(40.2)	(33)	(120.5)	(99)
Amortization of prior service (benefit) cost	(0.5)	(1)	(1.4)	(3.4)
Recognized net actuarial (gain) loss	25.7	12.5	76.8	37.8
Net periodic benefit cost (income)	30.8	21.2	92.5	63.7
Other postretirement benefits
Components of Net Periodic Benefit Cost (Income)
Service cost	0.5	0.4	1.5	1.1
Interest cost	1.6	1.7	4.9	5
Expected return on plan assets	(8.5)	(8.2)	(25.5)	(24.5)
Amortization of prior service (benefit) cost	(4.6)	(5)	(13.8)	(15.2)
Recognized net actuarial (gain) loss	(0.3)	(1)	(0.7)	(2.7)
Net periodic benefit cost (income)	$ (11.3)	$ (12.1)	$ (33.6)	$ (36.3)

Contingencies, Guarantees and66

Contingencies, Guarantees and Indemnifications (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2008	Sep. 30, 2015
Loss contingencies - disclosures
Proceeds from termination of certain structured transactions and the resulting prepayment	$ 440
Amount, including interest, attempted to be recovered		$ 550
Estimated losses accrued related to legal matters		0
Maximum exposure under guarantees		$ 205

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) shares in Millions, $ in Millions	Jun. 30, 2015	Feb. 28, 2015	Feb. 28, 2014	Feb. 28, 2013	Sep. 30, 2015	Sep. 30, 2014
Preferred Stock
Preferred stock redemption					$ 550
Excess of redemption value over carrying value of preferred shares redeemed					$ 8.2
Preferred stock
Preferred Stock
Excess of redemption value over carrying value of preferred shares redeemed	$ 8.2
Common stock
Reconciliation of Outstanding Shares
Outstanding shares at beginning of period					293.9	295.2
Shares issued					3.3	3.1
Treasury stock acquired					(3.7)	(4.7)
Outstanding shares at end of period					293.5	293.6
Common stock share repurchase disclosures
Share repurchase program, maximum authorized amount (in dollars)		$ 150	$ 200	$ 150
Series A | Preferred stock
Reconciliation of Outstanding Shares
Outstanding shares at beginning of period					3	3
Preferred stock redemption	(3)				(3)
Outstanding shares at end of period						3
Preferred Stock
Preferred stock redemption	$ 250
Series B | Preferred stock
Reconciliation of Outstanding Shares
Outstanding shares at beginning of period					10	10
Preferred stock redemption	(10)				(10)
Outstanding shares at end of period						10
Preferred Stock
Preferred stock redemption	$ 300				$ 0.1

Stockholders' Equity (Details 2

Stockholders' Equity (Details 2) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Other Comprehensive Income (Loss)
Other comprehensive income (loss), pre-tax	$ (227.5)	$ (262.3)	$ (724.8)	$ 373.4
Other comprehensive income (loss), tax	15.8	36.4	141.3	(183.3)
Other comprehensive income (loss)	(211.7)	(225.9)	(583.5)	190.1
Net unrealized gains (losses) on available-for-sale securities including NCI
Other Comprehensive Income (Loss)
Other comprehensive income (loss) before reclassifications, pre-tax	(191.9)	(301.8)	(999)	1,009.9
Adjustments for assumed changes in amortization patterns, pre-tax	35.7	28.2	118.1	(71)
Adjustments for assumed changes in policyholder liabilities, pre-tax	190.5	149.8	547.8	(434.7)
Other comprehensive income (loss), pre-tax	41.1	(119.5)	(334.8)	446.8
Other comprehensive income (loss) before reclassifications, tax	66.4	103.8	340.7	(340.7)
Reclassification from accumulated other comprehensive income, tax	(2.5)	(1.4)	0.5	18.8
Adjustments for assumed changes in amortization patterns, tax	(12.5)	(9.8)	(41.3)	24.9
Adjustments for assumed changes in policyholder liabilities, tax	(64.2)	(47)	(186.1)	146.8
Other comprehensive income (loss), tax	(12.8)	45.6	113.8	(150.2)
Other comprehensive income (loss) before reclassifications, after-tax	(125.5)	(198)	(658.3)	669.2
Reclassification from accumulated other comprehensive income, after-tax	4.3	2.9	(1.2)	(38.6)
Adjustments for assumed changes in amortization patterns, after-tax	23.2	18.4	76.8	(46.1)
Adjustments for assumed changes in policyholder liabilities, after-tax	126.3	102.8	361.7	(287.9)
Other comprehensive income (loss)	28.3	(73.9)	(221)	296.6
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	6.8	4.3	(1.7)	(57.4)
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	1.1	14.7	28	82.6
Adjustments for assumed changes in amortization patterns, pre-tax		3.1	(1.3)	(5.3)
Adjustments for assumed changes in policyholder liabilities, pre-tax	0.3	(0.9)	0.5	(1.5)
Other comprehensive income (loss), pre-tax	1.4	16.9	27.2	75.8
Other comprehensive income (loss) before reclassifications, tax	(0.3)	(5)	(9.7)	(29.3)
Adjustments for assumed changes in amortization patterns, tax		(1.2)	0.5	1.9
Adjustments for assumed changes in policyholder liabilities, tax	(0.1)	0.3	(0.1)	0.5
Other comprehensive income (loss), tax	(0.4)	(5.9)	(9.3)	(26.9)
Other comprehensive income (loss) before reclassifications, after-tax	0.8	9.7	18.3	53.3
Adjustments for assumed changes in amortization patterns, after-tax		1.9	(0.8)	(3.4)
Adjustments for assumed changes in policyholder liabilities, after-tax	0.2	(0.6)	0.4	(1)
Other comprehensive income (loss)	1	11	17.9	48.9
Net unrealized gains (losses) on derivative instruments including NCI
Other Comprehensive Income (Loss)
Other comprehensive income (loss) before reclassifications, pre-tax	21.7	48.4	50.1	67.7
Reclassification from accumulated other comprehensive income, pre-tax	(4.3)	(1.8)	(22.1)	6.3
Adjustments for assumed changes in amortization patterns, pre-tax	6	(8.4)	18.5	(8.9)
Adjustments for assumed changes in policyholder liabilities, pre-tax	(7.2)	6.9	(12)	0.4
Other comprehensive income (loss), pre-tax	16.2	45.1	34.5	65.5
Other comprehensive income (loss) before reclassifications, tax	(7.6)	(17)	(17.5)	(23.8)
Reclassification from accumulated other comprehensive income, tax	1.3	0.6	7.3	(2.4)
Adjustments for assumed changes in amortization patterns, tax	(2.1)	2.9	(6.5)	3.1
Adjustments for assumed changes in policyholder liabilities, tax	2.5	(2.4)	4.2	(0.1)
Other comprehensive income (loss), tax	(5.9)	(15.9)	(12.5)	(23.2)
Other comprehensive income (loss) before reclassifications, after-tax	14.1	31.4	32.6	43.9
Reclassification from accumulated other comprehensive income, after-tax	(3)	(1.2)	(14.8)	3.9
Adjustments for assumed changes in amortization patterns, after-tax	3.9	(5.5)	12	(5.8)
Adjustments for assumed changes in policyholder liabilities, after-tax	(4.7)	4.5	(7.8)	0.3
Other comprehensive income (loss)	10.3	29.2	22	42.3
Foreign currency translation adjustment including NCI
Other Comprehensive Income (Loss)
Other comprehensive income (loss), pre-tax	(306.5)	(210.3)	(512.6)	(231.2)
Other comprehensive income (loss), tax	43.3	14.5	74.3	22.8
Other comprehensive income (loss)	(263.2)	(195.8)	(438.3)	(208.4)
Unrecognized postretirement benefit obligation including NCI
Other Comprehensive Income (Loss)
Other comprehensive income (loss), pre-tax	20.3	5.5	60.9	16.5
Other comprehensive income (loss) before reclassifications, tax	(8.4)	(1.9)	(25)	(5.8)
Other comprehensive income (loss), tax	(8.4)	(1.9)	(25)	(5.8)
Other comprehensive income (loss) before reclassifications, after-tax	11.9	3.6	35.9	10.7
Other comprehensive income (loss)	11.9	3.6	35.9	10.7
Unrecognized postretirement benefit obligation including NCI | Operating expense
Other Comprehensive Income (Loss)
Other comprehensive income (loss) before reclassifications, pre-tax	$ 20.3	$ 5.5	$ 60.9	$ 16.5

Stockholders' Equity (Details 3

Stockholders' Equity (Details 3) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Change in accumulated other comprehensive income (loss) rollforward
Balances	$ 10,184
Purchase of subsidiary shares from noncontrolling interest	(16.5)	$ (41.9)
Balances	9,620.3
Change in redeemable noncontrolling interest rollforward
Redeemable noncontrolling interest, balance at beginning of period	58	247.2
Net income (loss) attributable to redeemable noncontrolling interest	1.5	8.3
Contributions from redeemable noncontrolling interest	49.3	0.1
Distributions to redeemable noncontrolling interest	(10.7)	(14.4)
Purchase of subsidiary shares from redeemable noncontrolling interest	(6)	(216.8)
Change in redemption value of redeemable noncontrolling interest	3.6	33.2
Foreign currency translation adjustment, redeemable noncontrolling interest	(17.7)	(1.5)
Redeemable noncontrolling interest, balance at end of period	78	56.1
Accumulated other comprehensive income (loss)
Change in accumulated other comprehensive income (loss) rollforward
Balances	50.4	183.2
Other comprehensive income (loss) during the period, net of adjustments	(602.3)	172
Amounts reclassified from accumulated other comprehensive income (loss)	37.8	24.9
Other comprehensive income (loss) attributable to Principal Financial Group, Inc.	(564.5)	196.9
Purchase of subsidiary shares from noncontrolling interest	(10.3)
Balances	(524.4)	380.1
Net unrealized gains (losses) on available-for-sale securities
Change in accumulated other comprehensive income (loss) rollforward
Balances	1,202.8	878.1
Other comprehensive income (loss) during the period, net of adjustments	(219.8)	335.2
Amounts reclassified from accumulated other comprehensive income (loss)	(1.2)	(38.6)
Other comprehensive income (loss) attributable to Principal Financial Group, Inc.	(221)	296.6
Balances	981.8	1,174.7
Noncredit component of impairment losses on fixed maturities available-for-sale
Change in accumulated other comprehensive income (loss) rollforward
Balances	(105.1)	(167)
Amounts reclassified from accumulated other comprehensive income (loss)	17.9	48.9
Other comprehensive income (loss) attributable to Principal Financial Group, Inc.	17.9	48.9
Balances	(87.2)	(118.1)
Net unrealized gains (losses) on derivative instruments
Change in accumulated other comprehensive income (loss) rollforward
Balances	50.6	(10.5)
Other comprehensive income (loss) during the period, net of adjustments	36.8	38.4
Amounts reclassified from accumulated other comprehensive income (loss)	(14.8)	3.9
Other comprehensive income (loss) attributable to Principal Financial Group, Inc.	22	42.3
Balances	72.6	31.8
Foreign currency translation adjustment
Change in accumulated other comprehensive income (loss) rollforward
Balances	(686.8)	(361.5)
Other comprehensive income (loss) during the period, net of adjustments	(419.3)	(201.6)
Other comprehensive income (loss) attributable to Principal Financial Group, Inc.	(419.3)	(201.6)
Purchase of subsidiary shares from noncontrolling interest	(10.3)
Balances	(1,116.4)	(563.1)
Unrecognized postretirement benefit obligation
Change in accumulated other comprehensive income (loss) rollforward
Balances	(411.1)	(155.9)
Amounts reclassified from accumulated other comprehensive income (loss)	35.9	10.7
Other comprehensive income (loss) attributable to Principal Financial Group, Inc.	35.9	10.7
Balances	$ (375.2)	$ (145.2)

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Assets (liabilities) measured at fair value on a recurring basis
Derivative assets	$ 821.3	$ 661.8
Separate account assets	134,045.8	140,072.8
Investment-type insurance contracts	$ (210.3)	(176.4)
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%
Fixed maturities
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	$ 49,780.6	49,670.8
U.S. government and agencies
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	1,543.6	1,121.8
Non-U.S. governments
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	787.7	891.1
States and political subdivisions
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	4,455.7	4,204
Corporate debt securities
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	31,278.7	31,535
Residential mortgage-backed pass-through securities
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	2,680.2	2,822.9
Commercial mortgage-backed securities
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	3,861.2	3,975.5
Collateralized debt obligations
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	633	504.1
Other debt obligations
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	4,540.5	4,616.4
Equity securities
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	465.3	123
Recurring Fair Value Measurements
Assets (liabilities) measured at fair value on a recurring basis
Derivative assets	821.3	661.8
Other investments	425.4	478.9
Cash equivalents	1,153.6	1,041.7
Sub-total excluding separate account assets	54,225.5	53,421
Separate account assets	134,045.8	140,072.8
Total assets	188,271.3	193,493.8
Investment-type insurance contracts	(210.3)	(176.4)
Derivative liabilities	(816.9)	(791.8)
Other liabilities	(301.4)	(310.1)
Total liabilities	(1,328.6)	(1,278.3)
Net assets (liabilities)	186,942.7	192,215.5
Recurring Fair Value Measurements | Fair value hierarchy Level 1
Assets (liabilities) measured at fair value on a recurring basis
Other investments	177.8	3.3
Sub-total excluding separate account assets	1,424.2	934.2
Separate account assets	69,860.6	73,363.4
Total assets	71,284.8	74,297.6
Net assets (liabilities)	71,284.8	74,297.6
Recurring Fair Value Measurements | Fair value hierarchy Level 2
Assets (liabilities) measured at fair value on a recurring basis
Derivative assets	768.8	608.1
Other investments	216.1	348.4
Cash equivalents	1,153.6	1,041.7
Sub-total excluding separate account assets	52,196.5	51,749.9
Separate account assets	57,449.1	60,818
Total assets	109,645.6	112,567.9
Derivative liabilities	(771.2)	(756.3)
Other liabilities	(236.7)	(243.8)
Total liabilities	(1,007.9)	(1,000.1)
Net assets (liabilities)	108,637.7	111,567.8
Recurring Fair Value Measurements | Fair value hierarchy Level 3
Assets (liabilities) measured at fair value on a recurring basis
Derivative assets	52.5	53.7
Other investments	31.5	127.2
Sub-total excluding separate account assets	604.8	736.9
Separate account assets	6,736.1	5,891.4
Total assets	7,340.9	6,628.3
Investment-type insurance contracts	(210.3)	(176.4)
Derivative liabilities	(45.7)	(35.5)
Other liabilities	(64.7)	(66.3)
Total liabilities	(320.7)	(278.2)
Net assets (liabilities)	7,020.2	6,350.1
Recurring Fair Value Measurements | Fixed maturities
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	49,780.6	49,670.8
Trading	710.2	604.6
Recurring Fair Value Measurements | Fixed maturities | Fair value hierarchy Level 1
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	937.1	760.8
Trading	101.7
Recurring Fair Value Measurements | Fixed maturities | Fair value hierarchy Level 2
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	48,465.8	48,497.8
Trading	469.5	464.9
Recurring Fair Value Measurements | Fixed maturities | Fair value hierarchy Level 3
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	377.7	412.2
Trading	139	139.7
Recurring Fair Value Measurements | U.S. government and agencies
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	1,543.6	1,121.8
Recurring Fair Value Measurements | U.S. government and agencies | Fair value hierarchy Level 1
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	895.7	720.5
Recurring Fair Value Measurements | U.S. government and agencies | Fair value hierarchy Level 2
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	647.9	401.3
Recurring Fair Value Measurements | Non-U.S. governments
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	787.7	891.1
Recurring Fair Value Measurements | Non-U.S. governments | Fair value hierarchy Level 1
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	2.8
Recurring Fair Value Measurements | Non-U.S. governments | Fair value hierarchy Level 2
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	736	852.4
Recurring Fair Value Measurements | Non-U.S. governments | Fair value hierarchy Level 3
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	48.9	38.7
Recurring Fair Value Measurements | States and political subdivisions
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	4,455.7	4,204
Recurring Fair Value Measurements | States and political subdivisions | Fair value hierarchy Level 2
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	4,455.7	4,204
Recurring Fair Value Measurements | Corporate debt securities
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	31,278.7	31,535
Recurring Fair Value Measurements | Corporate debt securities | Fair value hierarchy Level 1
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	38.6	40.3
Recurring Fair Value Measurements | Corporate debt securities | Fair value hierarchy Level 2
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	31,003.3	31,249.1
Recurring Fair Value Measurements | Corporate debt securities | Fair value hierarchy Level 3
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	236.8	245.6
Recurring Fair Value Measurements | Residential mortgage-backed pass-through securities
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	2,680.2	2,822.9
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
Available-for-sale	2,680.2	2,822.9
Recurring Fair Value Measurements | Commercial mortgage-backed securities
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	3,861.2	3,975.5
Recurring Fair Value Measurements | Commercial mortgage-backed securities | Fair value hierarchy Level 2
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	3,845.9	3,975.5
Recurring Fair Value Measurements | Commercial mortgage-backed securities | Fair value hierarchy Level 3
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	15.3
Recurring Fair Value Measurements | Collateralized debt obligations
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	633	504.1
Recurring Fair Value Measurements | Collateralized debt obligations | Fair value hierarchy Level 2
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	569.8	439.9
Recurring Fair Value Measurements | Collateralized debt obligations | Fair value hierarchy Level 3
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	63.2	64.2
Recurring Fair Value Measurements | Other debt obligations
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	4,540.5	4,616.4
Recurring Fair Value Measurements | Other debt obligations | Fair value hierarchy Level 2
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	4,527	4,552.7
Recurring Fair Value Measurements | Other debt obligations | Fair value hierarchy Level 3
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	13.5	63.7
Recurring Fair Value Measurements | Equity securities
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	465.3	123
Trading	869.1	840.2
Recurring Fair Value Measurements | Equity securities | Fair value hierarchy Level 1
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	105.8	64.2
Trading	101.8	105.9
Recurring Fair Value Measurements | Equity securities | Fair value hierarchy Level 2
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	355.4	54.7
Trading	767.3	734.3
Recurring Fair Value Measurements | Equity securities | Fair value hierarchy Level 3
Assets (liabilities) measured at fair value on a recurring basis
Available-for-sale	$ 4.1	$ 4.1

Fair Value Measurements (Deta71

Fair Value Measurements (Details 2) - Recurring Fair Value Measurements - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Available-for-sale | Fixed maturities
Changes in Level 3 fair value measurements rollforward, assets and liabilities
Beginning balance, assets	$ 377.3	$ 333.6	$ 412.2	$ 336.8
Total realized/unrealized gains (losses) included in net income, assets	(0.1)	(2.4)	(0.3)	(3.3)
Total realized/unrealized gains (losses) included in other comprehensive income, assets	(1.1)	(2.7)	(2.1)	1.9
Net purchases, sales, issuances and settlements, assets	26.7	50.9	58.6	51.4
Transfers into Level 3, assets	15	16.4	41.2	53.4
Transfers out of Level 3, assets	(40.1)	(17.9)	(131.9)	(62.3)
Ending balance, assets	377.7	377.9	377.7	377.9
Changes in unrealized gains (losses) included in net income relating to positions still held, assets	(0.2)	(2.3)	(0.4)	(3.1)
Gross purchases, sales, issuances and settlements
Purchases, assets	30.5	58.4	89.7	131.6
Sales, assets		(5.5)	(5.7)	(50)
Settlements, assets	(3.8)	(2)	(25.4)	(30.2)
Net purchases, sales, issuances and settlements, assets	26.7	50.9	58.6	51.4
Available-for-sale | Non-U.S. governments
Changes in Level 3 fair value measurements rollforward, assets and liabilities
Beginning balance, assets	45.6	39.6	38.7	47.5
Total realized/unrealized gains (losses) included in net income, assets	(0.1)		(0.2)	(0.1)
Total realized/unrealized gains (losses) included in other comprehensive income, assets	0.3	(0.2)	0.4	(0.2)
Net purchases, sales, issuances and settlements, assets	3.1	1.9	10	(5.9)
Ending balance, assets	48.9	41.3	48.9	41.3
Changes in unrealized gains (losses) included in net income relating to positions still held, assets	(0.1)		(0.2)	(0.1)
Gross purchases, sales, issuances and settlements
Purchases, assets	3.4	2.2	10.9	5.8
Sales, assets				(10.8)
Settlements, assets	(0.3)	(0.3)	(0.9)	(0.9)
Net purchases, sales, issuances and settlements, assets	3.1	1.9	10	(5.9)
Available-for-sale | States and political subdivisions
Changes in Level 3 fair value measurements rollforward, assets and liabilities
Beginning balance, assets		1.7		1.8
Net purchases, sales, issuances and settlements, assets				(0.1)
Ending balance, assets		1.7		1.7
Gross purchases, sales, issuances and settlements
Settlements, assets				(0.1)
Net purchases, sales, issuances and settlements, assets				(0.1)
Available-for-sale | Corporate debt securities
Changes in Level 3 fair value measurements rollforward, assets and liabilities
Beginning balance, assets	227	170	245.6	164
Total realized/unrealized gains (losses) included in net income, assets	(0.1)	(1.4)	(0.2)	(1.6)
Total realized/unrealized gains (losses) included in other comprehensive income, assets	(2.4)	(2.8)	(3.3)	(1.7)
Net purchases, sales, issuances and settlements, assets	3.4	40.7	27.1	21
Transfers into Level 3, assets	15	15.7	41.2	46.6
Transfers out of Level 3, assets	(6.1)		(73.6)	(6.1)
Ending balance, assets	236.8	222.2	236.8	222.2
Changes in unrealized gains (losses) included in net income relating to positions still held, assets	(0.1)	(1.4)	(0.2)	(1.5)
Gross purchases, sales, issuances and settlements
Purchases, assets	5.5	46.5	47.1	64.5
Sales, assets		(5.5)	(5.7)	(39.2)
Settlements, assets	(2.1)	(0.3)	(14.3)	(4.3)
Net purchases, sales, issuances and settlements, assets	3.4	40.7	27.1	21
Available-for-sale | Commercial mortgage-backed securities
Changes in Level 3 fair value measurements rollforward, assets and liabilities
Beginning balance, assets		6.7		1.6
Total realized/unrealized gains (losses) included in net income, assets		(1)		(1.6)
Total realized/unrealized gains (losses) included in other comprehensive income, assets	0.1	0.2	0.1	1.3
Net purchases, sales, issuances and settlements, assets	15.2	0.2	15.2	(0.2)
Transfers into Level 3, assets		0.7		6.8
Transfers out of Level 3, assets		(1.4)		(2.5)
Ending balance, assets	15.3	5.4	15.3	5.4
Changes in unrealized gains (losses) included in net income relating to positions still held, assets		(0.9)		(1.5)
Gross purchases, sales, issuances and settlements
Purchases, assets	15.2		15.2
Settlements, assets		0.2		(0.2)
Net purchases, sales, issuances and settlements, assets	15.2	0.2	15.2	(0.2)
Available-for-sale | Collateralized debt obligations
Changes in Level 3 fair value measurements rollforward, assets and liabilities
Beginning balance, assets	63.3	68.5	64.2	37.8
Total realized/unrealized gains (losses) included in net income, assets	0.1		0.1
Total realized/unrealized gains (losses) included in other comprehensive income, assets		0.1	(0.1)	1.4
Net purchases, sales, issuances and settlements, assets	(0.2)	9.5	(1)	46.4
Transfers out of Level 3, assets		(16.5)		(24)
Ending balance, assets	63.2	61.6	63.2	61.6
Gross purchases, sales, issuances and settlements
Purchases, assets		9.7		61.3
Settlements, assets	(0.2)	(0.2)	(1)	(14.9)
Net purchases, sales, issuances and settlements, assets	(0.2)	9.5	(1)	46.4
Available-for-sale | Other debt obligations
Changes in Level 3 fair value measurements rollforward, assets and liabilities
Beginning balance, assets	41.4	47.1	63.7	84.1
Total realized/unrealized gains (losses) included in other comprehensive income, assets	0.9		0.8	1.1
Net purchases, sales, issuances and settlements, assets	5.2	(1.4)	7.3	(9.8)
Transfers out of Level 3, assets	(34)		(58.3)	(29.7)
Ending balance, assets	13.5	45.7	13.5	45.7
Gross purchases, sales, issuances and settlements
Purchases, assets	6.4		16.5
Settlements, assets	(1.2)	(1.4)	(9.2)	(9.8)
Net purchases, sales, issuances and settlements, assets	5.2	(1.4)	7.3	(9.8)
Available-for-sale | Equity securities
Changes in Level 3 fair value measurements rollforward, assets and liabilities
Beginning balance, assets	4.1	17.5	4.1	16.9
Total realized/unrealized gains (losses) included in net income, assets		(0.3)		(0.3)
Total realized/unrealized gains (losses) included in other comprehensive income, assets		0.2		0.6
Transfers into Level 3, assets				0.2
Ending balance, assets	4.1	17.4	4.1	17.4
Changes in unrealized gains (losses) included in net income relating to positions still held, assets		(0.3)		(0.3)
Trading | Fixed maturities
Changes in Level 3 fair value measurements rollforward, assets and liabilities
Beginning balance, assets	139.8	159.6	139.7	169.9
Total realized/unrealized gains (losses) included in net income, assets	(0.8)	3.7	(0.6)	9.5
Net purchases, sales, issuances and settlements, assets		(24)	(0.1)	(40.1)
Ending balance, assets	139	139.3	139	139.3
Changes in unrealized gains (losses) included in net income relating to positions still held, assets	(0.8)	0.2	(0.7)	0.8
Gross purchases, sales, issuances and settlements
Sales, assets		(10)	(0.2)	(10)
Settlements, assets		(14)	0.1	(30.1)
Net purchases, sales, issuances and settlements, assets		(24)	(0.1)	(40.1)
Derivative assets
Changes in Level 3 fair value measurements rollforward, assets and liabilities
Beginning balance, assets	45.1	62.3	53.7	74.2
Total realized/unrealized gains (losses) included in net income, assets	7.4	(14.4)	(3.6)	(26.4)
Net purchases, sales, issuances and settlements, assets		9.8	2.4	9.9
Ending balance, assets	52.5	57.7	52.5	57.7
Changes in unrealized gains (losses) included in net income relating to positions still held, assets	7.4	(14.3)	(3.4)	(26.4)
Gross purchases, sales, issuances and settlements
Purchases, assets		9.8	2.5	9.9
Sales, assets			(0.1)
Net purchases, sales, issuances and settlements, assets		9.8	2.4	9.9
Other investments
Changes in Level 3 fair value measurements rollforward, assets and liabilities
Beginning balance, assets	29.7	134.6	127.2	142.9
Total realized/unrealized gains (losses) included in net income, assets	0.5	3.8	4.5	6.6
Net purchases, sales, issuances and settlements, assets	1.3	(14.1)	(65.2)	(25.2)
Transfers out of Level 3, assets			(35)
Ending balance, assets	31.5	124.3	31.5	124.3
Changes in unrealized gains (losses) included in net income relating to positions still held, assets	0.5	3.8	4.5	6.6
Gross purchases, sales, issuances and settlements
Purchases, assets	1.3		2.5	0.2
Sales, assets			(67.7)
Settlements, assets		(14.1)		(25.4)
Net purchases, sales, issuances and settlements, assets	1.3	(14.1)	(65.2)	(25.2)
Separate account assets
Changes in Level 3 fair value measurements rollforward, assets and liabilities
Beginning balance, assets	6,406	5,533.6	5,891.4	5,265.2
Total realized/unrealized gains (losses) included in net income, assets	344.4	167	799.3	358.4
Total realized/unrealized gains (losses) included in other comprehensive income, assets		(0.3)		(0.2)
Net purchases, sales, issuances and settlements, assets	(14.3)	79	45.4	161.3
Transfers into Level 3, assets	0.1	2.3	0.2	4.4
Transfers out of Level 3, assets	(0.1)	(4.2)	(0.2)	(11.7)
Ending balance, assets	6,736.1	5,777.4	6,736.1	5,777.4
Changes in unrealized gains (losses) included in net income relating to positions still held, assets	267.5	163.7	705.2	359.9
Gross purchases, sales, issuances and settlements
Purchases, assets	69.6	228.5	430.6	467.2
Sales, assets	(29.7)	(127.3)	(189.1)	(257.5)
Issuances, assets	(54.7)	(196.5)	(200.5)	(290.1)
Settlements, assets	0.5	174.3	4.4	241.7
Net purchases, sales, issuances and settlements, assets	(14.3)	79	45.4	161.3
Investment-type insurance contracts
Changes in Level 3 fair value measurements rollforward, assets and liabilities
Beginning balance, liabilities	(117)	(37.6)	(176.4)	(6.9)
Total realized/unrealized gains (losses) included in net income, liabilities	(98.1)	(62.8)	(40.5)	(109.9)
Net purchases, sales, issuances and settlements, liabilities	4.8	6.3	6.6	22.7
Ending balance, liabilities	(210.3)	(94.1)	(210.3)	(94.1)
Changes in unrealized gains (losses) included in net income relating to positions still held, liabilities	(98.9)	(56.1)	(43.8)	(109.9)
Gross purchases, sales, issuances and settlements
Issuances, liabilities	3.7	4.2	1.4	18.7
Settlements, liabilities	1.1	2.1	5.2	4
Net purchases, sales, issuances and settlements, liabilities	4.8	6.3	6.6	22.7
Derivative liabilities
Changes in Level 3 fair value measurements rollforward, assets and liabilities
Beginning balance, liabilities	(37)	(24.7)	(35.5)	(39.6)
Total realized/unrealized gains (losses) included in net income, liabilities	(9.1)	(13.3)	(12)	0.5
Total realized/unrealized gains (losses) included in other comprehensive income, liabilities	0.4	(0.6)	1.6	0.7
Net purchases, sales, issuances and settlements, liabilities		0.8	0.2	0.6
Ending balance, liabilities	(45.7)	(37.8)	(45.7)	(37.8)
Changes in unrealized gains (losses) included in net income relating to positions still held, liabilities	(9.5)	(14.5)	(12.6)	(3.7)
Gross purchases, sales, issuances and settlements
Purchases, liabilities		(0.6)		(0.8)
Sales, liabilities		1.4	0.2	1.4
Net purchases, sales, issuances and settlements, liabilities		0.8	0.2	0.6
Other liabilities
Changes in Level 3 fair value measurements rollforward, assets and liabilities
Beginning balance, liabilities	(67.5)	(79.9)	(66.3)	(73.9)
Total realized/unrealized gains (losses) included in net income, liabilities	2.8	9.9	1.6	3.9
Net purchases, sales, issuances and settlements, liabilities		9		9
Ending balance, liabilities	(64.7)	(61)	(64.7)	(61)
Changes in unrealized gains (losses) included in net income relating to positions still held, liabilities	$ 2.8	9.8	$ 1.5	4.5
Gross purchases, sales, issuances and settlements
Sales, liabilities		9		9
Net purchases, sales, issuances and settlements, liabilities		$ 9		$ 9

Fair Value Measurements (Deta72

Fair Value Measurements (Details 3) - Recurring Fair Value Measurements - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Available-for-sale | Fixed maturities
Fair Value Hierarchy Levels Transfers
Transfers out of Level 2 into Level 3	$ 15	$ 16.4	$ 41.2	$ 53.4
Transfers out of Level 3 into Level 2	40.1	17.9	131.9	62.3
Available-for-sale | Corporate debt securities
Fair Value Hierarchy Levels Transfers
Transfers out of Level 2 into Level 3	15	15.7	41.2	46.6
Transfers out of Level 3 into Level 2	6.1		73.6	6.1
Available-for-sale | Commercial mortgage-backed securities
Fair Value Hierarchy Levels Transfers
Transfers out of Level 2 into Level 3		0.7		6.8
Transfers out of Level 3 into Level 2		1.4		2.5
Available-for-sale | Collateralized debt obligations
Fair Value Hierarchy Levels Transfers
Transfers out of Level 3 into Level 2		16.5		24
Available-for-sale | Other debt obligations
Fair Value Hierarchy Levels Transfers
Transfers out of Level 3 into Level 2	34		58.3	29.7
Available-for-sale | Equity securities
Fair Value Hierarchy Levels Transfers
Transfers out of Level 2 into Level 3				0.2
Separate account assets
Fair Value Hierarchy Levels Transfers
Transfers out of Level 1 into Level 2	24.6	2.1	26.6	17.5
Transfers out of Level 2 into Level 1	1.2	17.5	8	71.3
Transfers out of Level 2 into Level 3	0.1	2.3	0.2	4.4
Transfers out of Level 3 into Level 2	0.1	$ 4.2	0.2	$ 11.7
Other investments
Fair Value Hierarchy Levels Transfers
Transfers out of Level 2 into Level 1	$ 141.4		141.4
Transfers out of Level 3 into Level 2			$ 35

Fair Value Measurements (Deta73

Fair Value Measurements (Details 4) - Recurring Fair Value Measurements - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Unobservable inputs
Assets measured at fair value	$ 188,271.3	$ 193,493.8
Liabilities measured at fair value	(1,328.6)	(1,278.3)
Fair value hierarchy Level 3
Unobservable inputs
Assets measured at fair value	7,340.9	6,628.3
Liabilities measured at fair value	(320.7)	(278.2)
Fair value hierarchy Level 3 | Available-for-sale | Non-U.S. governments | Discounted cash flow
Unobservable inputs
Assets measured at fair value	$ 9.4	$ 10.3
Discount rate (as a percent)	1.70%	2.20%
Illiquidity premium (as a percent)	0.50%	0.50%
Fair value hierarchy Level 3 | Available-for-sale | Non-U.S. governments | Discounted cash flow | Weighted average input
Unobservable inputs
Discount rate (as a percent)	1.70%	2.20%
Illiquidity premium (as a percent)	0.50%	0.50%
Fair value hierarchy Level 3 | Available-for-sale | Corporate debt securities | Discounted cash flow
Unobservable inputs
Assets measured at fair value	$ 42	$ 83
Fair value hierarchy Level 3 | Available-for-sale | Corporate debt securities | Discounted cash flow | Minimum
Unobservable inputs
Discount rate (as a percent)	1.60%	1.80%
Illiquidity premium (as a percent)	0.00%	0.00%
Comparability adjustment (as a percent)	0.00%	0.00%
Fair value hierarchy Level 3 | Available-for-sale | Corporate debt securities | Discounted cash flow | Maximum
Unobservable inputs
Discount rate (as a percent)	7.60%	6.70%
Illiquidity premium (as a percent)	0.60%	0.25%
Comparability adjustment (as a percent)	0.14%	0.01%
Fair value hierarchy Level 3 | Available-for-sale | Corporate debt securities | Discounted cash flow | Weighted average input
Unobservable inputs
Discount rate (as a percent)	4.80%	4.00%
Illiquidity premium (as a percent)	0.34%	0.13%
Comparability adjustment (as a percent)	0.03%	0.00%
Fair value hierarchy Level 3 | Available-for-sale | Commercial mortgage-backed securities | Discounted cash flow
Unobservable inputs
Assets measured at fair value	$ 15.3
Fair value hierarchy Level 3 | Available-for-sale | Commercial mortgage-backed securities | Discounted cash flow | Minimum
Unobservable inputs
Discount rate (as a percent)	3.70%
Fair value hierarchy Level 3 | Available-for-sale | Commercial mortgage-backed securities | Discounted cash flow | Maximum
Unobservable inputs
Discount rate (as a percent)	4.90%
Fair value hierarchy Level 3 | Available-for-sale | Commercial mortgage-backed securities | Discounted cash flow | Weighted average input
Unobservable inputs
Discount rate (as a percent)	4.30%
Fair value hierarchy Level 3 | Available-for-sale | Collateralized debt obligations | Discounted cash flow
Unobservable inputs
Assets measured at fair value	$ 3.1	$ 12.7
Discount rate (as a percent)	12.10%
Probability of default (as a percent)	100.00%
Potential loss severity (as a percent)	67.00%
Fair value hierarchy Level 3 | Available-for-sale | Collateralized debt obligations | Discounted cash flow | Minimum
Unobservable inputs
Discount rate (as a percent)		2.70%
Probability of default (as a percent)		0.00%
Potential loss severity (as a percent)		0.00%
Fair value hierarchy Level 3 | Available-for-sale | Collateralized debt obligations | Discounted cash flow | Maximum
Unobservable inputs
Discount rate (as a percent)		17.10%
Probability of default (as a percent)		100.00%
Potential loss severity (as a percent)		70.00%
Fair value hierarchy Level 3 | Available-for-sale | Collateralized debt obligations | Discounted cash flow | Weighted average input
Unobservable inputs
Discount rate (as a percent)	12.10%	6.10%
Probability of default (as a percent)	100.00%	23.50%
Potential loss severity (as a percent)	67.00%	16.40%
Fair value hierarchy Level 3 | Available-for-sale | Other debt obligations | Discounted cash flow
Unobservable inputs
Assets measured at fair value	$ 7.8	$ 49.3
Discount rate (as a percent)	5.00%
Illiquidity premium (as a percent)	7.50%
Fair value hierarchy Level 3 | Available-for-sale | Other debt obligations | Discounted cash flow | Minimum
Unobservable inputs
Discount rate (as a percent)		1.40%
Illiquidity premium (as a percent)		0.00%
Fair value hierarchy Level 3 | Available-for-sale | Other debt obligations | Discounted cash flow | Maximum
Unobservable inputs
Discount rate (as a percent)		5.00%
Illiquidity premium (as a percent)		10.00%
Fair value hierarchy Level 3 | Available-for-sale | Other debt obligations | Discounted cash flow | Weighted average input
Unobservable inputs
Discount rate (as a percent)	5.00%	2.30%
Illiquidity premium (as a percent)	7.50%	1.75%
Fair value hierarchy Level 3 | Trading | Fixed maturities | Discounted cash flow
Unobservable inputs
Assets measured at fair value	$ 14.2	$ 15.2
Fair value hierarchy Level 3 | Trading | Fixed maturities | Discounted cash flow | Minimum
Unobservable inputs
Discount rate (as a percent)	2.10%	1.80%
Illiquidity premium (as a percent)	2.00%	2.00%
Fair value hierarchy Level 3 | Trading | Fixed maturities | Discounted cash flow | Maximum
Unobservable inputs
Discount rate (as a percent)	16.00%	126.90%
Illiquidity premium (as a percent)	8.00%	14.00%
Fair value hierarchy Level 3 | Trading | Fixed maturities | Discounted cash flow | Weighted average input
Unobservable inputs
Discount rate (as a percent)	6.40%	3.50%
Illiquidity premium (as a percent)	4.30%	4.60%
Fair value hierarchy Level 3 | Trading | Collateralized private investment vehicle | Fixed maturities
Unobservable inputs
Assets measured at fair value		$ 100.4
Fair value hierarchy Level 3 | Other investments | Discounted cash flow, commercial mortgage loans of consolidated VIEs
Unobservable inputs
Assets measured at fair value		$ 35
Discount rate (as a percent)		4.20%
Illiquidity premium (as a percent)		0.76%
Fair value hierarchy Level 3 | Other investments | Discounted cash flow, commercial mortgage loans of consolidated VIEs | Weighted average input
Unobservable inputs
Discount rate (as a percent)		4.20%
Illiquidity premium (as a percent)		0.76%
Fair value hierarchy Level 3 | Other investments | Discounted cash flow, equity method real estate investment and equity method real estate investment debt
Unobservable inputs
Assets measured at fair value	$ 31.5	$ 92.2
Fair value hierarchy Level 3 | Other investments | Discounted cash flow, equity method real estate investment
Unobservable inputs
Discount rate (as a percent)	7.90%
Terminal capitalization rate (as a percent)	6.80%
Average market rent growth rate (as a percent)	3.30%
Fair value hierarchy Level 3 | Other investments | Discounted cash flow, equity method real estate investment | Minimum
Unobservable inputs
Discount rate (as a percent)		7.30%
Terminal capitalization rate (as a percent)		5.50%
Average market rent growth rate (as a percent)		3.30%
Fair value hierarchy Level 3 | Other investments | Discounted cash flow, equity method real estate investment | Maximum
Unobservable inputs
Discount rate (as a percent)		8.00%
Terminal capitalization rate (as a percent)		6.80%
Average market rent growth rate (as a percent)		3.70%
Fair value hierarchy Level 3 | Other investments | Discounted cash flow, equity method real estate investment | Weighted average input
Unobservable inputs
Discount rate (as a percent)	7.90%	7.60%
Terminal capitalization rate (as a percent)	6.80%	6.10%
Average market rent growth rate (as a percent)	3.30%	3.50%
Fair value hierarchy Level 3 | Other investments | Discounted cash flow, equity method real estate investment debt
Unobservable inputs
Loan to value (as a percent)	54.90%
Credit spread rate (as a percent)	2.30%
Fair value hierarchy Level 3 | Other investments | Discounted cash flow, equity method real estate investment debt | Minimum
Unobservable inputs
Loan to value (as a percent)		34.20%
Credit spread rate (as a percent)		1.80%
Fair value hierarchy Level 3 | Other investments | Discounted cash flow, equity method real estate investment debt | Maximum
Unobservable inputs
Loan to value (as a percent)		58.90%
Credit spread rate (as a percent)		2.00%
Fair value hierarchy Level 3 | Other investments | Discounted cash flow, equity method real estate investment debt | Weighted average input
Unobservable inputs
Loan to value (as a percent)	54.90%	46.50%
Credit spread rate (as a percent)	2.30%	1.90%
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, mortgage loans, real estate and real estate debt
Unobservable inputs
Assets measured at fair value	$ 6,616.4	$ 5,857.4
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, mortgage loans | Minimum
Unobservable inputs
Discount rate (as a percent)	1.10%	1.10%
Illiquidity premium (as a percent)	0.00%	0.00%
Credit spread rate (as a percent)	0.85%	0.70%
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, mortgage loans | Maximum
Unobservable inputs
Discount rate (as a percent)	7.10%	6.90%
Illiquidity premium (as a percent)	0.60%	0.60%
Credit spread rate (as a percent)	6.65%	6.32%
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, mortgage loans | Weighted average input
Unobservable inputs
Discount rate (as a percent)	3.30%	3.20%
Illiquidity premium (as a percent)	0.07%	0.07%
Credit spread rate (as a percent)	2.26%	2.21%
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate | Minimum
Unobservable inputs
Discount rate (as a percent)	5.60%	6.00%
Terminal capitalization rate (as a percent)	4.30%	4.50%
Average market rent growth rate (as a percent)	0.00%	1.30%
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate | Maximum
Unobservable inputs
Discount rate (as a percent)	38.10%	24.60%
Terminal capitalization rate (as a percent)	9.50%	9.50%
Average market rent growth rate (as a percent)	4.40%	4.40%
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate | Weighted average input
Unobservable inputs
Discount rate (as a percent)	7.30%	7.40%
Terminal capitalization rate (as a percent)	6.20%	6.40%
Average market rent growth rate (as a percent)	3.10%	3.00%
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate debt | Minimum
Unobservable inputs
Loan to value (as a percent)	15.30%	6.80%
Credit spread rate (as a percent)	1.60%	2.10%
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate debt | Maximum
Unobservable inputs
Loan to value (as a percent)	65.20%	64.10%
Credit spread rate (as a percent)	4.30%	4.80%
Fair value hierarchy Level 3 | Separate account assets | Discounted cash flow, real estate debt | Weighted average input
Unobservable inputs
Loan to value (as a percent)	45.80%	46.50%
Credit spread rate (as a percent)	2.30%	3.40%
Fair value hierarchy Level 3 | Investment-type insurance contracts | Discounted cash flow
Unobservable inputs
Liabilities measured at fair value	$ (210.3)	$ (176.4)
Fair value hierarchy Level 3 | Investment-type insurance contracts | Discounted cash flow | Minimum
Unobservable inputs
Long duration interest rate (as a percent)	2.40%	2.60%
Long-term equity market volatility (as a percent)	14.90%	14.90%
Non-performance risk (as a percent)	0.50%	0.10%
Lapse rate (as a percent)	0.50%	0.50%
Fair value hierarchy Level 3 | Investment-type insurance contracts | Discounted cash flow | Maximum
Unobservable inputs
Long duration interest rate (as a percent)	2.50%	2.70%
Long-term equity market volatility (as a percent)	44.90%	39.50%
Non-performance risk (as a percent)	1.90%	1.40%
Lapse rate (as a percent)	14.10%	14.10%
Fair value hierarchy Level 3 | Derivative liabilities
Unobservable inputs
Liabilities measured at fair value		$ (19.3)
Fair value hierarchy Level 3 | Other liabilities
Unobservable inputs
Liabilities measured at fair value		$ (66.3)

Fair Value Measurements (Deta74

Fair Value Measurements (Details 5) - Nonrecurring Fair Value Measurements - Fair value hierarchy Level 3 - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Mortgage loans
Assets and liabilities measured at fair value on a nonrecurring basis
Fair value of assets measured on nonrecurring basis	$ 13.9	$ 63.8	$ 13.9	$ 63.8
Mortgage loans | Minimum
Assets and liabilities measured at fair value on a nonrecurring basis
Discount rate (as a percent)				8.80%
Terminal capitalization rate (as a percent)				7.30%
Average market rent growth rate (as a percent)				2.50%
Mortgage loans | Maximum
Assets and liabilities measured at fair value on a nonrecurring basis
Discount rate (as a percent)				11.00%
Terminal capitalization rate (as a percent)				9.00%
Average market rent growth rate (as a percent)				10.90%
Mortgage loans | Net realized capital gains (losses)
Assets and liabilities measured at fair value on a nonrecurring basis
Net (gain) loss due to change in fair value of assets measured on nonrecurring basis	1.5	$ 9.7	3.3	$ 9.1
Intangible assets
Assets and liabilities measured at fair value on a nonrecurring basis
Fair value of assets measured on nonrecurring basis	0		0
Intangible assets | Operating expense
Assets and liabilities measured at fair value on a nonrecurring basis
Net (gain) loss due to change in fair value of assets measured on nonrecurring basis	$ 23		$ 23

Fair Value Measurements (Deta75

Fair Value Measurements (Details 6) item in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)item	Sep. 30, 2014USD ($)item	Sep. 30, 2015USD ($)item	Sep. 30, 2014USD ($)item	Dec. 31, 2014USD ($)
Commercial Mortgage Loans of Consolidated VIEs
Fair Value Option, Quantitative Disclosures
Fair value of assets for which fair value option was elected	$ 25.1		$ 25.1		$ 35
Contractual principal amounts of assets for which the fair value option was elected	23.6		23.6		32.4
Pre-tax gain (loss) due to change in fair value of assets and liabilities for which the fair value option was elected	1	$ (0.2)	(1.1)	$ (0.8)
Credit risk portion of pre-tax gain (loss) due to change in fair value of assets for which the fair value option was elected	$ 0	$ 0	$ 0	$ 0
Number of loans which are more than 90 days past due or in nonaccrual status | item	0	0	0	0
Interest income	$ 0.7	$ 3.2	$ 2.2	$ 5.4
Obligations of Consolidated VIEs
Fair Value Option, Quantitative Disclosures
Pre-tax gain (loss) due to change in fair value of assets and liabilities for which the fair value option was elected	1.5	10.4	1.3	4.7
Fair value of liabilities for which the fair value option was elected	64.7		64.7		71
Aggregate unpaid principal amounts of obligations for which the fair value option was elected	124		124		132.8
Credit risk portion of pre-tax gain (loss) due to change in fair value of liabilities for which the fair value option was elected	2.8	8.9	1.5	2.9
Interest expense	0.4	2.7	0.8	3.8
Equity Method Investment
Fair Value Option, Quantitative Disclosures
Fair value of assets for which fair value option was elected	31.5		31.5		$ 92.2
Pre-tax gain (loss) due to change in fair value of assets and liabilities for which the fair value option was elected	$ 0.5	$ 4	$ 4.5	$ 7.6

Fair Value Measurements (Deta76

Fair Value Measurements (Details 7) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Assets (liabilities)
Mortgage loans	$ 12,232.1	$ 11,811.6
Policy loans	822.8	829.2
Short-term debt	(221.6)	(28)
Long-term debt	(3,286.1)	(2,531.2)
Carrying amount
Assets (liabilities)
Mortgage loans	12,232.1	11,811.6
Policy loans	822.8	829.2
Other investments	238.2	211.2
Cash and cash equivalents not required to be reported at fair value	1,360.6	822.2
Investment-type insurance contracts	(28,483.4)	(28,256.3)
Short-term debt	(221.6)	(28)
Long-term debt	(3,286.1)	(2,531.2)
Separate account liabilities	(122,714.6)	(128,480.5)
Bank deposits	(2,004.6)	(1,979.7)
Cash collateral payable	(267.5)	(148.3)
Assets (liabilities) measured at fair value
Assets (liabilities)
Mortgage loans	12,752.8	12,350.2
Policy loans	1,049	1,083.2
Other investments	251.2	211.6
Cash and cash equivalents not required to be reported at fair value	1,360.6	822.2
Investment-type insurance contracts	(28,281.9)	(28,322.7)
Short-term debt	(221.6)	(28)
Long-term debt	(3,431)	(2,786.1)
Separate account liabilities	(121,486.1)	(127,131)
Bank deposits	(2,008.7)	(1,985.5)
Cash collateral payable	(267.5)	(148.3)
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	1,360.6	822.2
Bank deposits	(1,388.3)	(1,343.8)
Cash collateral payable	(267.5)	(148.3)
Assets (liabilities) measured at fair value | Fair value hierarchy Level 2
Assets (liabilities)
Other investments	170.8	183.7
Investment-type insurance contracts	(4,733.5)	(5,455.4)
Short-term debt	(221.6)	(28)
Long-term debt	(3,392.7)	(2,703.8)
Bank deposits	(620.4)	(641.7)
Assets (liabilities) measured at fair value | Fair value hierarchy Level 3
Assets (liabilities)
Mortgage loans	12,752.8	12,350.2
Policy loans	1,049	1,083.2
Other investments	80.4	27.9
Investment-type insurance contracts	(23,548.4)	(22,867.3)
Long-term debt	(38.2)	(82.3)
Separate account liabilities	$ (121,486.1)	$ (127,131)

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Segment Information: Assets
Total assets	$ 215,365.4	$ 219,087
Retirement and Investor Services
Segment Information: Assets
Total assets	137,404.4	138,549.4
Principal Global Investors
Segment Information: Assets
Total assets	1,149.9	1,175.1
Principal International
Segment Information: Assets
Total assets	50,458	53,531.8
U.S. Insurance Solutions
Segment Information: Assets
Total assets	22,180.7	21,554.5
Corporate
Segment Information: Assets
Total assets	$ 4,172.4	$ 4,276.2

Segment Information (Details 2)

Segment Information (Details 2) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2015	Mar. 31, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting Information
Net realized capital gains (losses), net of related revenue adjustments	$ 4.8		$ (68.2)	$ (90.9)	$ (25)
Other income on a tax indemnification				60.2
Total revenues	3,240.9		2,484.3	9,157.4	7,569.6
Net realized capital gains (losses), as adjusted	(16.5)		(55.2)	(86.2)	(47.3)
Net income (loss) available to common stockholders	300.4		240.7	955.7	840.7
Change in deferred tax balances related to merger of legal entities				105.2
Impact of enactment of tax legislation			(58.1)		(58.1)
Impact of court ruling on uncertain tax positions		$ (30.3)		(30.3)	(47.5)
After-tax gains (losses) associated with exited group medical insurance business that does not qualify for discontinued operations	(0.1)		0.3	(0.3)	(0.3)
Operating Segments
Segment Reporting Information
Operating revenues	3,235.7		2,552.7	9,187.1	7,594.6
Operating earnings (loss)	317		353.7	967.3	993.9
Operating Segments | Retirement and Investor Services
Segment Reporting Information
Operating revenues	1,957.5		1,324.7	5,385.5	3,851
Operating earnings (loss)	163.3		204.3	590.9	632.9
Operating Segments | Principal Global Investors
Segment Reporting Information
Operating revenues	182.8		173.6	557.8	517.9
Operating earnings (loss)	30.4		25.3	92.6	79.6
Operating Segments | Principal International
Segment Reporting Information
Operating revenues	311.2		294.5	862.4	952.2
Operating earnings (loss)	45.8		73.8	165	205.1
Operating Segments | U.S. Insurance Solutions
Segment Reporting Information
Operating revenues	853.2		821	2,572.7	2,436.8
Operating earnings (loss)	114.5		83.3	228.4	175.7
Operating Segments | Corporate
Segment Reporting Information
Operating revenues	(69)		(61.1)	(191.3)	(163.3)
Operating earnings (loss)	(37)		(33)	(109.6)	(99.4)
Reconciling Items
Segment Reporting Information
Net realized capital gains (losses), net of related revenue adjustments	4.8		(68.2)	(90.9)	(25)
Other income on a tax indemnification				60.2
Exited group medical insurance business	0.4		(0.2)	1
Net realized capital gains (losses), as adjusted	(16.5)		(55.2)	(86.2)	(47.3)
Other after-tax adjustments	$ (0.1)		$ (57.8)	$ 74.6	$ (105.9)

Segment Information (Details 3)

Segment Information (Details 3) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Information: Net realized capital gains (losses), as adjusted
Net realized capital gains (losses)	$ 38.4	$ (46.4)	$ (10)	$ 41
Certain derivative and hedging-related adjustments	(34.2)	(21.9)	(80.3)	(66.4)
Certain market value adjustments to fee revenues			(1.1)
Certain adjustments related to seed money	0.5		0.5
Recognition of front-end fee (revenue) expense	0.1	0.1		0.4
Net realized capital gains (losses), net of related revenue adjustments	4.8	(68.2)	(90.9)	(25)
Amortization of deferred acquisition costs and other actuarial balances	(28.6)	(3.6)	(28.4)	(26.8)
Capital (gains) losses distributed	12.9	(8.8)	14.8	(18.1)
Certain market value adjustments of embedded derivatives	(1.1)	5.7	(2)	6
Net realized capital (gains) losses associated with exited group medical insurance business	0.1		0.1
Noncontrolling interest capital (gains) losses	(3.7)	(0.1)	(5.7)	(0.2)
Tax expense/benefit related to net realized capital gains (losses), as adjusted	(0.9)	19.8	25.9	16.8
Net realized capital gains (losses), as adjusted	$ (16.5)	$ (55.2)	$ (86.2)	$ (47.3)

Segment Information (Details 4)

Segment Information (Details 4) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Operating Revenues for Products and Services
Net realized capital gains (losses), net of related revenue adjustments	$ 4.8	$ (68.2)	$ (90.9)	$ (25)
Other income on a tax indemnification			60.2
Total revenues	3,240.9	2,484.3	9,157.4	7,569.6
Principal Global Investors
Operating Revenues for Products and Services
Inter-segment revenues	76.1	71	237.7	214.4
Operating Segments
Operating Revenues for Products and Services
Operating revenues	3,235.7	2,552.7	9,187.1	7,594.6
Operating Segments | Retirement and Investor Services
Operating Revenues for Products and Services
Operating revenues	1,957.5	1,324.7	5,385.5	3,851
Operating Segments | Retirement and Investor Services | Total Accumulation
Operating Revenues for Products and Services
Operating revenues	1,074.5	930.5	3,326.9	2,838.5
Operating Segments | Retirement and Investor Services | Full service accumulation
Operating Revenues for Products and Services
Operating revenues	383	392.1	1,153.8	1,170
Operating Segments | Retirement and Investor Services | Principal Funds
Operating Revenues for Products and Services
Operating revenues	231.8	219.7	699.9	638.2
Operating Segments | Retirement and Investor Services | Individual annuities
Operating Revenues for Products and Services
Operating revenues	476.7	335.6	1,524	1,082.9
Operating Segments | Retirement and Investor Services | Bank and trust services
Operating Revenues for Products and Services
Operating revenues	19.9	21.9	64.2	63.7
Operating Segments | Retirement and Investor Services | Accumulation Eliminations
Operating Revenues for Products and Services
Operating revenues	(36.9)	(38.8)	(115)	(116.3)
Operating Segments | Retirement and Investor Services | Total Guaranteed
Operating Revenues for Products and Services
Operating revenues	883	394.2	2,058.6	1,012.5
Operating Segments | Retirement and Investor Services | Investment only
Operating Revenues for Products and Services
Operating revenues	63.8	73.4	199.9	234.5
Operating Segments | Retirement and Investor Services | Full service payout
Operating Revenues for Products and Services
Operating revenues	819.2	320.8	1,858.7	778
Operating Segments | Principal Global Investors
Operating Revenues for Products and Services
Operating revenues	182.8	173.6	557.8	517.9
Operating Segments | Principal International
Operating Revenues for Products and Services
Operating revenues	311.2	294.5	862.4	952.2
Operating Segments | U.S. Insurance Solutions
Operating Revenues for Products and Services
Operating revenues	853.2	821	2,572.7	2,436.8
Operating Segments | U.S. Insurance Solutions | Individual life insurance
Operating Revenues for Products and Services
Operating revenues	389.6	382.7	1,178.2	1,148.5
Operating Segments | U.S. Insurance Solutions | Specialty benefits insurance
Operating Revenues for Products and Services
Operating revenues	463.6	438.3	1,394.6	1,288.4
Operating Segments | U.S. Insurance Solutions | U.S. Insurance Solutions Eliminations
Operating Revenues for Products and Services
Operating revenues			(0.1)	(0.1)
Operating Segments | Corporate
Operating Revenues for Products and Services
Operating revenues	(69)	(61.1)	(191.3)	(163.3)
Reconciling Items
Operating Revenues for Products and Services
Net realized capital gains (losses), net of related revenue adjustments	4.8	(68.2)	(90.9)	$ (25)
Other income on a tax indemnification			60.2
Exited group medical insurance business	$ 0.4	$ (0.2)	$ 1

Stock-Based Compensation Plan81

Stock-Based Compensation Plans (Details) - USD ($) $ in Millions	9 Months Ended		117 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	May. 20, 2014
Stock-Based Compensation Plans
Stock-Based Compensation Plans - Disclosures
Compensation cost	$ 52.5	$ 50.3
Related income tax benefit	17	16.4
Capitalized as part of an asset	$ 1.7	$ 1.9
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)	12,000,000		12,000,000
Stock Incentive Plan, Directors Stock Plan and Long-Term Performance Plan
Stock-Based Compensation Plans - Disclosures
Options granted (in shares)			0
Awards or units granted (in shares)			0
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-Based Compensation Plan82

Stock-Based Compensation Plans (Details 2) - Nonqualified Stock Options $ / shares in Units, shares in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)$ / sharesshares
Change in options outstanding
Options granted (in shares) | shares	0.6
Assumptions used to estimate fair value of stock options granted during period
Weighted-average expected volatility (as a percent)	52.20%
Weighted-average expected term	6 years 6 months
Weighted-average risk-free interest rate (as a percent)	1.80%
Weighted-average expected dividend yield (as a percent)	2.81%
Weighted-average estimated fair value of stock options granted (in dollars per share)	$ 20.43
Other nonqualified stock option disclosures
Unrecognized compensation costs | $	$ 5.5
Weighted-average service period over which unrecognized compensation costs will be recognized	1 year 4 months 24 days

Stock-Based Compensation Plan83

Stock-Based Compensation Plans (Details 3) $ / shares in Units, shares in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)$ / sharesshares
Performance Share Awards
Change in nonvested units outstanding
Awards or units granted (in shares)	0.3
Awards or units granted weighted-average grant-date fair value (in dollars per share) | $ / shares	$ 51.33
Other award and unit disclosures
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 | $	$ 9.6
Weighted-average service period over which unrecognized compensation costs will be recognized	1 year 7 months 6 days
Restricted Stock Units
Change in nonvested units outstanding
Awards or units granted (in shares)	0.9
Awards or units granted weighted-average grant-date fair value (in dollars per share) | $ / shares	$ 51.35
Other award and unit disclosures
Unrecognized compensation costs | $	$ 54.6
Weighted-average service period over which unrecognized compensation costs will be recognized	1 year 9 months 18 days
Employee Stock Purchase Plan
Stock-Based Compensation Plans - Disclosures
Share purchases under employee stock purchase plan (in shares)	0.3
Weighted-average fair value of discount on employee stock purchase plan (in dollars per share) | $ / shares	$ 7.69
Shares available to be issued under employee stock purchase plan (in shares)	4.4

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Common Share
Net income (loss)	$ 300.9	$ 252.8	$ 994.9	$ 896.1
Subtract:
Net income (loss) attributable to noncontrolling interest	0.5	3.9	14.5	30.7
Preferred stock dividends		8.2	16.5	24.7
Excess of redemption value over carrying value of preferred shares redeemed			8.2
Adjustments to redemption amounts of redeemable noncontrolling interests		10.3		19.7
Total	$ 300.4	$ 230.4	$ 955.7	$ 821
Weighted-average shares outstanding
Basic	295	294.2	295	294.9
Dilutive effects:
Stock options	1.6	1.8	1.6	1.7
Restricted stock units	1.6	1.8	1.6	1.7
Performance share awards	0.3	0.4	0.3	0.4
Diluted	298.5	298.2	298.5	298.7
Net income (loss) per common share:
Basic	$ 1.02	$ 0.78	$ 3.24	$ 2.78
Diluted	$ 1.01	$ 0.77	$ 3.20	$ 2.75

Condensed Consolidating Finan85

Condensed Consolidating Financial Information (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Assets
Fixed maturities, available-for-sale	$ 49,780.6	$ 49,670.8
Fixed maturities, trading	710.2	604.6
Equity securities, available-for-sale	465.3	123
Equity securities, trading	869.1	840.2
Mortgage loans	12,232.1	11,811.6
Real estate	1,415	1,344.6
Policy loans	822.8	829.2
Investment in unconsolidated entities	590.4	815.8
Other investments	2,680	2,394
Cash and cash equivalents	2,514.2	1,863.9	$ 1,270.8	$ 2,371.8
Accrued investment income	566.8	505.9
Premiums due and other receivables	1,401.6	1,213
Deferred acquisition costs	3,145	2,993
Property and equipment	611.6	590.2
Goodwill	1,005.2	1,007.4
Other intangibles	1,398.9	1,323.5
Separate account assets	134,045.8	140,072.8
Other assets	1,110.8	1,083.5
Total assets	215,365.4	219,087
Liabilities
Contractholder funds	35,115.2	34,726.7
Future policy benefits and claims	25,521.7	24,036.6
Other policyholder funds	819.5	812.7
Short-term debt	221.6	28
Long-term debt	3,286.1	2,531.2
Income taxes currently payable	16.7	11.5
Deferred income taxes	878.8	1,035.3
Separate account liabilities	134,045.8	140,072.8
Other liabilities	5,696.2	5,542.2
Total liabilities	205,601.6	208,797
Redeemable noncontrolling interest	78	58	56.1	247.2
Stockholders' equity
Common stock	4.7	4.6
Additional paid-in capital	9,524.2	9,945.5
Retained earnings (accumulated deficit)	6,734.7	6,114.1
Accumulated other comprehensive income	(524.4)	50.4
Treasury stock, at cost	(6,118.9)	(5,930.7)
Total stockholders' equity attributable to Principal Financial Group, Inc.	9,620.3	10,184
Noncontrolling interest	65.5	48
Total stockholders' equity	9,685.8	10,232	10,369	9,777
Total liabilities and stockholders' equity	215,365.4	219,087
Principal Financial Group, Inc. Parent Only
Assets
Investment in unconsolidated entities	12,494	12,446.5
Other investments	9.7	9.5
Cash and cash equivalents	578.1	412.4	150.7	131.5
Other assets	452.7	450.7
Total assets	13,534.5	13,319.1
Liabilities
Long-term debt	3,247.9	2,448.9
Other liabilities	666.3	686.2
Total liabilities	3,914.2	3,135.1
Stockholders' equity
Common stock	4.7	4.6
Additional paid-in capital	9,524.2	9,945.5
Retained earnings (accumulated deficit)	6,734.7	6,114.1
Accumulated other comprehensive income	(524.4)	50.4
Treasury stock, at cost	(6,118.9)	(5,930.7)
Total stockholders' equity attributable to Principal Financial Group, Inc.	9,620.3	10,184
Total stockholders' equity	9,620.3	10,184
Total liabilities and stockholders' equity	13,534.5	13,319.1
Principal Life Insurance Company Only
Assets
Fixed maturities, available-for-sale	43,723.9	43,649.7
Fixed maturities, trading	358.7	298.5
Equity securities, available-for-sale	101.5	108.9
Equity securities, trading	0.3	0.3
Mortgage loans	11,527	10,972.6
Real estate	6.4	7
Policy loans	792.7	799
Investment in unconsolidated entities	2,701.4	2,787.9
Other investments	3,827.7	3,416.7
Cash and cash equivalents	928.6	602.7	149.1	1,332.2
Accrued investment income	500.3	449.2
Premiums due and other receivables	1,455.3	1,237.4
Deferred acquisition costs	2,925.9	2,754.6
Property and equipment	530.6	505.8
Goodwill	54.3	54.3
Other intangibles	24.9	25.7
Separate account assets	92,088.8	94,328.4
Other assets	913.8	873.2
Total assets	162,462.1	162,871.9
Liabilities
Contractholder funds	32,593	33,428.3
Future policy benefits and claims	21,564	19,768.1
Other policyholder funds	737.9	742.8
Income taxes currently payable	10.1
Deferred income taxes	465.9	629.9
Separate account liabilities	92,088.8	94,328.4
Other liabilities	6,480.9	5,793
Total liabilities	153,940.6	154,690.5
Stockholders' equity
Common stock	2.5	2.5
Additional paid-in capital	5,322.2	5,275
Retained earnings (accumulated deficit)	2,289.7	1,817.2
Accumulated other comprehensive income	907.1	1,086.7
Total stockholders' equity attributable to Principal Financial Group, Inc.	8,521.5	8,181.4
Total stockholders' equity	8,521.5	8,181.4
Total liabilities and stockholders' equity	162,462.1	162,871.9
Principal Financial Services, Inc. and Other Subsidiaries Combined
Assets
Fixed maturities, available-for-sale	6,433.3	6,411.6
Fixed maturities, trading	351.5	306.1
Equity securities, available-for-sale	363.8	14.1
Equity securities, trading	868.8	839.9
Mortgage loans	1,174.3	1,188.6
Real estate	1,408.6	1,337.6
Policy loans	30.1	30.2
Investment in unconsolidated entities	5,957.4	5,745.7
Other investments	1,573.9	1,578.5
Cash and cash equivalents	1,420	1,253.6	833.5	894.5
Accrued investment income	68.2	58.1
Premiums due and other receivables	2,390.3	2,165.6
Deferred acquisition costs	219.1	238.4
Property and equipment	81	84.4
Goodwill	950.9	953.1
Other intangibles	1,374	1,297.8
Separate account assets	41,957	45,744.4
Other assets	3,093.7	2,768.6
Total assets	69,715.9	72,016.3
Liabilities
Contractholder funds	2,838.1	1,607.5
Future policy benefits and claims	4,461.2	4,718.2
Other policyholder funds	82.6	70.4
Short-term debt	221.6	28
Long-term debt	489.9	417.5
Income taxes currently payable	117.2	83.1
Deferred income taxes	1,030.2	1,022.5
Separate account liabilities	41,957	45,744.4
Other liabilities	5,958.8	5,845.5
Total liabilities	57,156.6	59,537.1
Redeemable noncontrolling interest	78	58
Stockholders' equity
Additional paid-in capital	8,984.8	8,964.2
Retained earnings (accumulated deficit)	3,504.1	2,858.6
Accumulated other comprehensive income	(77.8)	545.9
Total stockholders' equity attributable to Principal Financial Group, Inc.	12,411.1	12,368.7
Noncontrolling interest	70.2	52.5
Total stockholders' equity	12,481.3	12,421.2
Total liabilities and stockholders' equity	69,715.9	72,016.3
Eliminations, Notes Guarantor
Assets
Fixed maturities, available-for-sale	(376.6)	(390.5)
Mortgage loans	(469.2)	(349.6)
Investment in unconsolidated entities	(20,562.4)	(20,164.3)
Other investments	(2,731.3)	(2,610.7)
Cash and cash equivalents	(412.5)	(404.8)	$ 137.5	$ 13.6
Accrued investment income	(1.7)	(1.4)
Premiums due and other receivables	(2,444)	(2,190)
Other assets	(3,349.4)	(3,009)
Total assets	(30,347.1)	(29,120.3)
Liabilities
Contractholder funds	(315.9)	(309.1)
Future policy benefits and claims	(503.5)	(449.7)
Other policyholder funds	(1)	(0.5)
Long-term debt	(451.7)	(335.2)
Income taxes currently payable	(110.6)	(71.6)
Deferred income taxes	(617.3)	(617.1)
Other liabilities	(7,409.8)	(6,782.5)
Total liabilities	(9,409.8)	(8,565.7)
Stockholders' equity
Common stock	(2.5)	(2.5)
Additional paid-in capital	(14,307)	(14,239.2)
Retained earnings (accumulated deficit)	(5,793.8)	(4,675.8)
Accumulated other comprehensive income	(829.3)	(1,632.6)
Total stockholders' equity attributable to Principal Financial Group, Inc.	(20,932.6)	(20,550.1)
Noncontrolling interest	(4.7)	(4.5)
Total stockholders' equity	(20,937.3)	(20,554.6)
Total liabilities and stockholders' equity	$ (30,347.1)	$ (29,120.3)
Series A
Stockholders' equity
Preferred stock, value
Series B
Stockholders' equity
Preferred stock, value		$ 0.1
Series B | Principal Financial Group, Inc. Parent Only
Stockholders' equity
Preferred stock, value		$ 0.1

Condensed Consolidating Finan86

Condensed Consolidating Financial Information (Details 2) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues
Premiums and other considerations	$ 1,557.1	$ 875.8	$ 4,155.9	$ 2,514.8
Fees and other revenues	891.9	884.5	2,744.2	2,569.7
Net investment income (loss)	753.5	770.4	2,267.3	2,444.1
Net realized capital gains (losses), excluding impairment losses on available-for-sale securities	46	(24.5)	11.1	105
Net other-than-temporary impairment (losses) recoveries on available-for-sale securities	(6.5)	(7.3)	6.9	18.5
Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified to (from) other comprehensive income	(1.1)	(14.6)	(28)	(82.5)
Net impairment (losses) recoveries on available-for-sale securities	(7.6)	(21.9)	(21.1)	(64)
Net realized capital gains (losses)	38.4	(46.4)	(10)	41
Total revenues	3,240.9	2,484.3	9,157.4	7,569.6
Expenses
Benefits, claims and settlement expenses	1,869.6	1,113.8	5,160.5	3,609.7
Dividends to policyholders	40.7	44.2	123.5	134.5
Operating expenses	961.4	932.5	2,751.6	2,647.7
Total expenses	2,871.7	2,090.5	8,035.6	6,391.9
Income (loss) before income taxes	369.2	393.8	1,121.8	1,177.7
Income taxes (benefits)	68.3	141	126.9	281.6
Net income (loss)	300.9	252.8	994.9	896.1
Net income (loss) attributable to noncontrolling interest	0.5	3.9	14.5	30.7
Net income (loss) attributable to Principal Financial Group, Inc.	300.4	248.9	980.4	865.4
Preferred stock dividends		8.2	16.5	24.7
Excess of redemption value over carrying value of preferred shares redeemed			8.2
Net income (loss) available to common stockholders	300.4	240.7	955.7	840.7
Net income (loss)	300.9	252.8	994.9	896.1
Other comprehensive income (loss)	(211.7)	(225.9)	(583.5)	190.1
Comprehensive income (loss)	$ 89.2	$ 26.9	411.4	1,086.2
Principal Financial Group, Inc. Parent Only
Revenues
Net investment income (loss)			1.3	0.4
Total revenues			1.3	0.4
Expenses
Operating expenses			128.5	106.8
Total expenses			128.5	106.8
Income (loss) before income taxes			(127.2)	(106.4)
Income taxes (benefits)			(52.5)	(42.7)
Equity in the net income (loss) of subsidiaries			1,055.1	929.1
Net income (loss)			980.4	865.4
Net income (loss) attributable to Principal Financial Group, Inc.			980.4	865.4
Preferred stock dividends			16.5	24.7
Excess of redemption value over carrying value of preferred shares redeemed			8.2
Net income (loss) available to common stockholders			955.7	840.7
Net income (loss)			980.4	865.4
Other comprehensive income (loss)			(633.8)	129.6
Comprehensive income (loss)			346.6	995
Principal Life Insurance Company Only
Revenues
Premiums and other considerations			3,885.3	2,200.5
Fees and other revenues			1,522	1,407.5
Net investment income (loss)			1,606.8	1,719.4
Net realized capital gains (losses), excluding impairment losses on available-for-sale securities			50.4	674.1
Net other-than-temporary impairment (losses) recoveries on available-for-sale securities			6.9	27.7
Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified to (from) other comprehensive income			(27.9)	(84.5)
Net impairment (losses) recoveries on available-for-sale securities			(21)	(56.8)
Net realized capital gains (losses)			29.4	617.3
Total revenues			7,043.5	5,944.7
Expenses
Benefits, claims and settlement expenses			4,685.3	3,083.8
Dividends to policyholders			123.5	134.5
Operating expenses			1,658.7	1,624.3
Total expenses			6,467.5	4,842.6
Income (loss) before income taxes			576	1,102.1
Income taxes (benefits)			106	260.6
Equity in the net income (loss) of subsidiaries			262.6	(125)
Net income (loss)			732.6	716.5
Net income (loss) attributable to Principal Financial Group, Inc.			732.6	716.5
Net income (loss) available to common stockholders			732.6	716.5
Net income (loss)			732.6	716.5
Other comprehensive income (loss)			(181.1)	334.8
Comprehensive income (loss)			551.5	1,051.3
Principal Financial Services, Inc. and Other Subsidiaries Combined
Revenues
Premiums and other considerations			270.6	314.3
Fees and other revenues			1,523.9	1,451.5
Net investment income (loss)			1,212	1,260.1
Net realized capital gains (losses), excluding impairment losses on available-for-sale securities			(39.3)	(569.1)
Net other-than-temporary impairment (losses) recoveries on available-for-sale securities				(9.2)
Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified to (from) other comprehensive income			(0.1)	2
Net impairment (losses) recoveries on available-for-sale securities			(0.1)	(7.2)
Net realized capital gains (losses)			(39.4)	(576.3)
Total revenues			2,967.1	2,449.6
Expenses
Benefits, claims and settlement expenses			483.8	534.5
Operating expenses			1,216.9	1,156.4
Total expenses			1,700.7	1,690.9
Income (loss) before income taxes			1,266.4	758.7
Income taxes (benefits)			74.4	65.3
Equity in the net income (loss) of subsidiaries			(127.5)	266.4
Net income (loss)			1,064.5	959.8
Net income (loss) attributable to noncontrolling interest			14.5	30.7
Net income (loss) attributable to Principal Financial Group, Inc.			1,050	929.1
Net income (loss) available to common stockholders			1,050	929.1
Net income (loss)			1,064.5	959.8
Other comprehensive income (loss)			(606.7)	275.7
Comprehensive income (loss)			457.8	1,235.5
Eliminations, Notes Guarantor
Revenues
Fees and other revenues			(301.7)	(289.3)
Net investment income (loss)			(552.8)	(535.8)
Total revenues			(854.5)	(825.1)
Expenses
Benefits, claims and settlement expenses			(8.6)	(8.6)
Operating expenses			(252.5)	(239.8)
Total expenses			(261.1)	(248.4)
Income (loss) before income taxes			(593.4)	(576.7)
Income taxes (benefits)			(1)	(1.6)
Equity in the net income (loss) of subsidiaries			(1,190.2)	(1,070.5)
Net income (loss)			(1,782.6)	(1,645.6)
Net income (loss) attributable to Principal Financial Group, Inc.			(1,782.6)	(1,645.6)
Net income (loss) available to common stockholders			(1,782.6)	(1,645.6)
Net income (loss)			(1,782.6)	(1,645.6)
Other comprehensive income (loss)			838.1	(550)
Comprehensive income (loss)			$ (944.5)	$ (2,195.6)

Condensed Consolidating Finan87

Condensed Consolidating Financial Information (Details 3) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Operating activities
Net cash provided by (used in) operating activities	$ 3,323	$ 2,197.6
Investing activities
Available-for-sale securities: Purchases	(7,052.6)	(6,596)
Available-for-sale securities: Sales	1,410.8	1,871.5
Available-for-sale securities: Maturities	5,020.5	4,499.3
Mortgage loans acquired or originated	(1,658)	(1,614.2)
Mortgage loans sold or repaid	1,175.3	1,319.8
Real estate acquired	(255.8)	(246.8)
Net (purchases) sales of property and equipment	(96.3)	(117.5)
Purchases of interest in subsidiaries, net of cash acquired	(293.7)
Net change in other investments	(17)	56.6
Net cash provided by (used in) investing activities	(1,766.8)	(827.3)
Financing activities
Issuance of common stock	71.5	69.6
Acquisition of treasury stock	(188.2)	(222.5)
Proceeds from financing element derivatives	0.2	14.9
Payments for financing element derivatives	(60.9)	(41.5)
Excess tax benefits from share-based payment arrangements	15.2	8.6
Purchase of subsidiary shares from noncontrolling interest	(22.5)	(222.4)
Dividends to common stockholders	(330.2)	(276.7)
Dividends to preferred stockholders	(16.5)	(24.7)
Preferred stock redemption	(550)
Issuance of long-term debt	800.4	36.5
Principal repayments of long-term debt	(52.6)	(100.3)
Net proceeds from (repayments of) short-term borrowings	197.2	(20.5)
Investment contract deposits	4,190.3	4,184.3
Investment contract withdrawals	(4,974.3)	(5,864.3)
Net increase (decrease) in banking operation deposits	24.9	(2.3)
Other	(10.4)	(10)
Net cash provided by (used in) financing activities	(905.9)	(2,471.3)
Net increase (decrease) in cash and cash equivalents	650.3	(1,101)
Cash and cash equivalents at beginning of period	1,863.9	2,371.8
Cash and cash equivalents at end of period	2,514.2	1,270.8
Principal Financial Group, Inc. Parent Only
Operating activities
Net cash provided by (used in) operating activities	(40.4)	(42.3)
Investing activities
Dividends and returns of capital received from (contributions to) unconsolidated entities	425.5	517.5
Net change in other investments	1.5	(2)
Net cash provided by (used in) investing activities	427	515.5
Financing activities
Issuance of common stock	71.5	69.6
Acquisition of treasury stock	(188.2)	(222.5)
Excess tax benefits from share-based payment arrangements	0.7	0.3
Dividends to common stockholders	(330.2)	(276.7)
Dividends to preferred stockholders	(16.5)	(24.7)
Preferred stock redemption	(550)
Issuance of long-term debt	791.8
Net cash provided by (used in) financing activities	(220.9)	(454)
Net increase (decrease) in cash and cash equivalents	165.7	19.2
Cash and cash equivalents at beginning of period	412.4	131.5
Cash and cash equivalents at end of period	578.1	150.7
Principal Life Insurance Company Only
Operating activities
Net cash provided by (used in) operating activities	3,038.3	1,729.9
Investing activities
Available-for-sale securities: Purchases	(6,241.4)	(5,902.2)
Available-for-sale securities: Sales	834.3	1,559.7
Available-for-sale securities: Maturities	4,436.6	4,149.4
Mortgage loans acquired or originated	(1,573.8)	(1,620.6)
Mortgage loans sold or repaid	1,011.2	1,291.5
Real estate acquired	(0.3)	(0.6)
Net (purchases) sales of property and equipment	(77.7)	(90.3)
Dividends and returns of capital received from (contributions to) unconsolidated entities	(1.5)	263.5
Net change in other investments	169.7	(83.6)
Net cash provided by (used in) investing activities	(1,442.9)	(433.2)
Financing activities
Issuance of common stock		(0.2)
Proceeds from financing element derivatives	0.2	14.9
Payments for financing element derivatives	(60.9)	(41.5)
Excess tax benefits from share-based payment arrangements	5.5	3.7
Principal repayments of long-term debt		(100)
Capital received from (dividends and capital paid to) parent	(225.6)	(467.5)
Investment contract deposits	3,988	3,978.2
Investment contract withdrawals	(4,966.3)	(5,857.3)
Other	(10.4)	(10.1)
Net cash provided by (used in) financing activities	(1,269.5)	(2,479.8)
Net increase (decrease) in cash and cash equivalents	325.9	(1,183.1)
Cash and cash equivalents at beginning of period	602.7	1,332.2
Cash and cash equivalents at end of period	928.6	149.1
Principal Financial Services, Inc. and Other Subsidiaries Combined
Operating activities
Net cash provided by (used in) operating activities	316.7	504.6
Investing activities
Available-for-sale securities: Purchases	(811.3)	(705.1)
Available-for-sale securities: Sales	576.5	311.8
Available-for-sale securities: Maturities	583.9	349.9
Mortgage loans acquired or originated	(246.5)	(118.1)
Mortgage loans sold or repaid	205.1	137.6
Real estate acquired	(255.5)	(246.2)
Net (purchases) sales of property and equipment	(18.6)	(27.2)
Purchases of interest in subsidiaries, net of cash acquired	(293.7)
Dividends and returns of capital received from (contributions to) unconsolidated entities	225.6	467.5
Net change in other investments	(167.1)	34.9
Net cash provided by (used in) investing activities	(201.6)	205.1
Financing activities
Issuance of common stock		0.2
Excess tax benefits from share-based payment arrangements	9	4.6
Purchase of subsidiary shares from noncontrolling interest	(23.1)	(222.7)
Sale of subsidiary shares to noncontrolling interest	0.6	0.3
Issuance of long-term debt	167.2	138.9
Principal repayments of long-term debt	(94.8)	(87.4)
Net proceeds from (repayments of) short-term borrowings	197.2	(20.5)
Capital received from (dividends and capital paid to) parent	(424)	(781)
Investment contract deposits	202.3	206.1
Investment contract withdrawals	(8)	(7)
Net increase (decrease) in banking operation deposits	24.9	(2.3)
Other		0.1
Net cash provided by (used in) financing activities	51.3	(770.7)
Net increase (decrease) in cash and cash equivalents	166.4	(61)
Cash and cash equivalents at beginning of period	1,253.6	894.5
Cash and cash equivalents at end of period	1,420	833.5
Eliminations, Notes Guarantor
Operating activities
Net cash provided by (used in) operating activities	8.4	5.4
Investing activities
Available-for-sale securities: Purchases	0.1	11.3
Mortgage loans acquired or originated	162.3	124.5
Mortgage loans sold or repaid	(41)	(109.3)
Dividends and returns of capital received from (contributions to) unconsolidated entities	(649.6)	(1,248.5)
Net change in other investments	(21.1)	107.3
Net cash provided by (used in) investing activities	(549.3)	(1,114.7)
Financing activities
Purchase of subsidiary shares from noncontrolling interest	0.6	0.3
Sale of subsidiary shares to noncontrolling interest	(0.6)	(0.3)
Issuance of long-term debt	(158.6)	(102.4)
Principal repayments of long-term debt	42.2	87.1
Capital received from (dividends and capital paid to) parent	649.6	1,248.5
Net cash provided by (used in) financing activities	533.2	1,233.2
Net increase (decrease) in cash and cash equivalents	(7.7)	123.9
Cash and cash equivalents at beginning of period	(404.8)	13.6
Cash and cash equivalents at end of period	$ (412.5)	$ 137.5

Condensed Consolidating Finan88

Condensed Consolidating Financial Information (Details 4) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Assets
Fixed maturities, available-for-sale	$ 49,780.6	$ 49,670.8
Fixed maturities, trading	710.2	604.6
Equity securities, available-for-sale	465.3	123
Equity securities, trading	869.1	840.2
Mortgage loans	12,232.1	11,811.6
Real estate	1,415	1,344.6
Policy loans	822.8	829.2
Investment in unconsolidated entities	590.4	815.8
Other investments	2,680	2,394
Cash and cash equivalents	2,514.2	1,863.9	$ 1,270.8	$ 2,371.8
Accrued investment income	566.8	505.9
Premiums due and other receivables	1,401.6	1,213
Deferred acquisition costs	3,145	2,993
Property and equipment	611.6	590.2
Goodwill	1,005.2	1,007.4
Other intangibles	1,398.9	1,323.5
Separate account assets	134,045.8	140,072.8
Other assets	1,110.8	1,083.5
Total assets	215,365.4	219,087
Liabilities
Contractholder funds	35,115.2	34,726.7
Future policy benefits and claims	25,521.7	24,036.6
Other policyholder funds	819.5	812.7
Short-term debt	221.6	28
Long-term debt	3,286.1	2,531.2
Income taxes currently payable	16.7	11.5
Deferred income taxes	878.8	1,035.3
Separate account liabilities	134,045.8	140,072.8
Other liabilities	5,696.2	5,542.2
Total liabilities	205,601.6	208,797
Redeemable noncontrolling interest	78	58	56.1	247.2
Stockholders' equity
Common stock	4.7	4.6
Additional paid-in capital	9,524.2	9,945.5
Retained earnings (accumulated deficit)	6,734.7	6,114.1
Accumulated other comprehensive income	(524.4)	50.4
Treasury stock, at cost	(6,118.9)	(5,930.7)
Total stockholders' equity attributable to Principal Financial Group, Inc.	9,620.3	10,184
Noncontrolling interest	65.5	48
Total stockholders' equity	9,685.8	10,232	10,369	9,777
Total liabilities and stockholders' equity	215,365.4	219,087
Principal Financial Group, Inc. Parent Only
Assets
Investment in unconsolidated entities	12,494	12,446.5
Other investments	9.7	9.5
Cash and cash equivalents	578.1	412.4	150.7	131.5
Other assets	452.7	450.7
Total assets	13,534.5	13,319.1
Liabilities
Long-term debt	3,247.9	2,448.9
Other liabilities	666.3	686.2
Total liabilities	3,914.2	3,135.1
Stockholders' equity
Common stock	4.7	4.6
Additional paid-in capital	9,524.2	9,945.5
Retained earnings (accumulated deficit)	6,734.7	6,114.1
Accumulated other comprehensive income	(524.4)	50.4
Treasury stock, at cost	(6,118.9)	(5,930.7)
Total stockholders' equity attributable to Principal Financial Group, Inc.	9,620.3	10,184
Total stockholders' equity	9,620.3	10,184
Total liabilities and stockholders' equity	13,534.5	13,319.1
Principal Financial Services, Inc. Only
Assets
Equity securities, trading	4.2
Investment in unconsolidated entities	12,498.9	12,042.5
Other investments	176.3	128.2
Cash and cash equivalents	577.2	907.2	413	688.7
Accrued investment income	0.1
Premiums due and other receivables	13.1	0.3
Other assets	232.1	167.6
Total assets	13,501.9	13,245.8
Liabilities
Long-term debt	156
Income taxes currently payable		4.3
Deferred income taxes	1
Other liabilities	933.8	872.8
Total liabilities	1,090.8	877.1
Stockholders' equity
Additional paid-in capital	8,984.8	8,964.2
Retained earnings (accumulated deficit)	3,504.1	2,858.6
Accumulated other comprehensive income	(77.8)	545.9
Total stockholders' equity attributable to Principal Financial Group, Inc.	12,411.1	12,368.7
Total stockholders' equity	12,411.1	12,368.7
Total liabilities and stockholders' equity	13,501.9	13,245.8
Principal Life Insurance Company and Other Subsidiaries Combined
Assets
Fixed maturities, available-for-sale	49,780.6	49,670.8
Fixed maturities, trading	710.2	604.6
Equity securities, available-for-sale	465.3	123
Equity securities, trading	864.9	840.2
Mortgage loans	12,232.1	11,811.6
Real estate	1,415	1,344.6
Policy loans	822.8	829.2
Investment in unconsolidated entities	546.2	781.9
Other investments	2,494	2,256.3
Cash and cash equivalents	2,450	1,598	1,196.4	2,384
Accrued investment income	566.7	505.9
Premiums due and other receivables	1,544.5	1,211.8
Deferred acquisition costs	3,145	2,993
Property and equipment	611.6	590.2
Goodwill	1,005.2	1,007.4
Other intangibles	1,398.9	1,323.5
Separate account assets	134,045.8	140,072.8
Other assets	1,091.8	1,117.7
Total assets	215,190.6	218,682.5
Liabilities
Contractholder funds	35,115.2	34,726.7
Future policy benefits and claims	25,521.7	24,036.6
Other policyholder funds	819.5	812.7
Short-term debt	367.4	182.5
Long-term debt	38.2	82.3
Income taxes currently payable	83.3	54.1
Deferred income taxes	1,471.5	1,626.1
Separate account liabilities	134,045.8	140,072.8
Other liabilities	5,002.7	4,862.4
Total liabilities	202,465.3	206,456.2
Redeemable noncontrolling interest	78	58
Stockholders' equity
Common stock	17.8	17.8
Additional paid-in capital	9,847.5	9,341
Retained earnings (accumulated deficit)	2,930.6	2,283.2
Accumulated other comprehensive income	(212.1)	480.3
Treasury stock, at cost	(2)	(2)
Total stockholders' equity attributable to Principal Financial Group, Inc.	12,581.8	12,120.3
Noncontrolling interest	65.5	48
Total stockholders' equity	12,647.3	12,168.3
Total liabilities and stockholders' equity	215,190.6	218,682.5
Eliminations, Shelf Registration Debt Guarantor
Assets
Investment in unconsolidated entities	(24,948.7)	(24,455.1)
Cash and cash equivalents	(1,091.1)	(1,053.7)	$ (489.3)	$ (832.4)
Premiums due and other receivables	(156)	0.9
Other assets	(665.8)	(652.5)
Total assets	(26,861.6)	(26,160.4)
Liabilities
Short-term debt	(145.8)	(154.5)
Long-term debt	(156)
Income taxes currently payable	(66.6)	(46.9)
Deferred income taxes	(593.7)	(590.8)
Other liabilities	(906.6)	(879.2)
Total liabilities	(1,868.7)	(1,671.4)
Stockholders' equity
Common stock	(17.8)	(17.8)
Additional paid-in capital	(18,832.3)	(18,305.2)
Retained earnings (accumulated deficit)	(6,434.7)	(5,141.8)
Accumulated other comprehensive income	289.9	(1,026.2)
Treasury stock, at cost	2	2
Total stockholders' equity attributable to Principal Financial Group, Inc.	(24,992.9)	(24,489)
Total stockholders' equity	(24,992.9)	(24,489)
Total liabilities and stockholders' equity	$ (26,861.6)	$ (26,160.4)
Series A
Stockholders' equity
Preferred stock, value
Series B
Stockholders' equity
Preferred stock, value		$ 0.1
Series B | Principal Financial Group, Inc. Parent Only
Stockholders' equity
Preferred stock, value		$ 0.1

Condensed Consolidating Finan89

Condensed Consolidating Financial Information (Details 5) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues
Premiums and other considerations	$ 1,557.1	$ 875.8	$ 4,155.9	$ 2,514.8
Fees and other revenues	891.9	884.5	2,744.2	2,569.7
Net investment income (loss)	753.5	770.4	2,267.3	2,444.1
Net realized capital gains (losses), excluding impairment losses on available-for-sale securities	46	(24.5)	11.1	105
Net other-than-temporary impairment (losses) recoveries on available-for-sale securities	(6.5)	(7.3)	6.9	18.5
Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified to (from) other comprehensive income	(1.1)	(14.6)	(28)	(82.5)
Net impairment (losses) recoveries on available-for-sale securities	(7.6)	(21.9)	(21.1)	(64)
Net realized capital gains (losses)	38.4	(46.4)	(10)	41
Total revenues	3,240.9	2,484.3	9,157.4	7,569.6
Expenses
Benefits, claims and settlement expenses	1,869.6	1,113.8	5,160.5	3,609.7
Dividends to policyholders	40.7	44.2	123.5	134.5
Operating expenses	961.4	932.5	2,751.6	2,647.7
Total expenses	2,871.7	2,090.5	8,035.6	6,391.9
Income (loss) before income taxes	369.2	393.8	1,121.8	1,177.7
Income taxes (benefits)	68.3	141	126.9	281.6
Net income (loss)	300.9	252.8	994.9	896.1
Net income (loss) attributable to noncontrolling interest	0.5	3.9	14.5	30.7
Net income (loss) attributable to Principal Financial Group, Inc.	300.4	248.9	980.4	865.4
Preferred stock dividends		8.2	16.5	24.7
Excess of redemption value over carrying value of preferred shares redeemed			8.2
Net income (loss) available to common stockholders	300.4	240.7	955.7	840.7
Net income (loss)	300.9	252.8	994.9	896.1
Other comprehensive income (loss)	(211.7)	(225.9)	(583.5)	190.1
Comprehensive income (loss)	$ 89.2	$ 26.9	411.4	1,086.2
Principal Financial Group, Inc. Parent Only
Revenues
Net investment income (loss)			1.3	0.4
Total revenues			1.3	0.4
Expenses
Operating expenses			128.5	106.8
Total expenses			128.5	106.8
Income (loss) before income taxes			(127.2)	(106.4)
Income taxes (benefits)			(52.5)	(42.7)
Equity in the net income (loss) of subsidiaries			1,055.1	929.1
Net income (loss)			980.4	865.4
Net income (loss) attributable to Principal Financial Group, Inc.			980.4	865.4
Preferred stock dividends			16.5	24.7
Excess of redemption value over carrying value of preferred shares redeemed			8.2
Net income (loss) available to common stockholders			955.7	840.7
Net income (loss)			980.4	865.4
Other comprehensive income (loss)			(633.8)	129.6
Comprehensive income (loss)			346.6	995
Principal Financial Services, Inc. Only
Revenues
Fees and other revenues			0.2	0.3
Net investment income (loss)				0.5
Net realized capital gains (losses), excluding impairment losses on available-for-sale securities			(4.1)
Net realized capital gains (losses)			(4.1)
Total revenues			(3.9)	0.8
Expenses
Operating expenses			9.3	3.1
Total expenses			9.3	3.1
Income (loss) before income taxes			(13.2)	(2.3)
Income taxes (benefits)			0.2	(3.2)
Equity in the net income (loss) of subsidiaries			1,063.4	928.2
Net income (loss)			1,050	929.1
Net income (loss) attributable to Principal Financial Group, Inc.			1,050	929.1
Net income (loss) available to common stockholders			1,050	929.1
Net income (loss)			1,050	929.1
Other comprehensive income (loss)			(621.7)	183.5
Comprehensive income (loss)			428.3	1,112.6
Principal Life Insurance Company and Other Subsidiaries Combined
Revenues
Premiums and other considerations			4,155.9	2,514.8
Fees and other revenues			2,744.7	2,569.4
Net investment income (loss)			2,258.6	2,443.2
Net realized capital gains (losses), excluding impairment losses on available-for-sale securities			16.8	105
Net other-than-temporary impairment (losses) recoveries on available-for-sale securities			6.9	18.5
Other-than-temporary impairment losses on fixed maturities, available-for-sale reclassified to (from) other comprehensive income			(28)	(82.5)
Net impairment (losses) recoveries on available-for-sale securities			(21.1)	(64)
Net realized capital gains (losses)			(4.3)	41
Total revenues			9,154.9	7,568.4
Expenses
Benefits, claims and settlement expenses			5,160.5	3,609.7
Dividends to policyholders			123.5	134.5
Operating expenses			2,613.8	2,537.8
Total expenses			7,897.8	6,282
Income (loss) before income taxes			1,257.1	1,286.4
Income taxes (benefits)			179.2	327.5
Net income (loss)			1,077.9	958.9
Net income (loss) attributable to noncontrolling interest			14.5	30.7
Net income (loss) attributable to Principal Financial Group, Inc.			1,063.4	928.2
Net income (loss) available to common stockholders			1,063.4	928.2
Net income (loss)			1,077.9	958.9
Other comprehensive income (loss)			(700.7)	163.9
Comprehensive income (loss)			377.2	1,122.8
Eliminations, Shelf Registration Debt Guarantor
Revenues
Fees and other revenues			(0.7)
Net investment income (loss)			7.4
Net realized capital gains (losses), excluding impairment losses on available-for-sale securities			(1.6)
Net realized capital gains (losses)			(1.6)
Total revenues			5.1
Expenses
Income (loss) before income taxes			5.1
Equity in the net income (loss) of subsidiaries			(2,118.5)	(1,857.3)
Net income (loss)			(2,113.4)	(1,857.3)
Net income (loss) attributable to Principal Financial Group, Inc.			(2,113.4)	(1,857.3)
Net income (loss) available to common stockholders			(2,113.4)	(1,857.3)
Net income (loss)			(2,113.4)	(1,857.3)
Other comprehensive income (loss)			1,372.7	(286.9)
Comprehensive income (loss)			$ (740.7)	$ (2,144.2)

Condensed Consolidating Finan90

Condensed Consolidating Financial Information (Details 6) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Operating activities
Net cash provided by (used in) operating activities	$ 3,323	$ 2,197.6
Investing activities
Available-for-sale securities: Purchases	(7,052.6)	(6,596)
Available-for-sale securities: Sales	1,410.8	1,871.5
Available-for-sale securities: Maturities	5,020.5	4,499.3
Mortgage loans acquired or originated	(1,658)	(1,614.2)
Mortgage loans sold or repaid	1,175.3	1,319.8
Real estate acquired	(255.8)	(246.8)
Net (purchases) sales of property and equipment	(96.3)	(117.5)
Purchases of interest in subsidiaries, net of cash acquired	(293.7)
Net change in other investments	(17)	56.6
Net cash provided by (used in) investing activities	(1,766.8)	(827.3)
Financing activities
Issuance of common stock	71.5	69.6
Acquisition of treasury stock	(188.2)	(222.5)
Proceeds from financing element derivatives	0.2	14.9
Payments for financing element derivatives	(60.9)	(41.5)
Excess tax benefits from share-based payment arrangements	15.2	8.6
Purchase of subsidiary shares from noncontrolling interest	(22.5)	(222.4)
Dividends to common stockholders	(330.2)	(276.7)
Dividends to preferred stockholders	(16.5)	(24.7)
Preferred stock redemption	(550)
Issuance of long-term debt	800.4	36.5
Principal repayments of long-term debt	(52.6)	(100.3)
Net proceeds from (repayments of) short-term borrowings	197.2	(20.5)
Investment contract deposits	4,190.3	4,184.3
Investment contract withdrawals	(4,974.3)	(5,864.3)
Net increase (decrease) in banking operation deposits	24.9	(2.3)
Other	(10.4)	(10)
Net cash provided by (used in) financing activities	(905.9)	(2,471.3)
Net increase (decrease) in cash and cash equivalents	650.3	(1,101)
Cash and cash equivalents at beginning of period	1,863.9	2,371.8
Cash and cash equivalents at end of period	2,514.2	1,270.8
Principal Financial Group, Inc. Parent Only
Operating activities
Net cash provided by (used in) operating activities	(40.4)	(42.3)
Investing activities
Dividends and returns of capital received from (contributions to) unconsolidated entities	425.5	517.5
Net change in other investments	1.5	(2)
Net cash provided by (used in) investing activities	427	515.5
Financing activities
Issuance of common stock	71.5	69.6
Acquisition of treasury stock	(188.2)	(222.5)
Excess tax benefits from share-based payment arrangements	0.7	0.3
Dividends to common stockholders	(330.2)	(276.7)
Dividends to preferred stockholders	(16.5)	(24.7)
Preferred stock redemption	(550)
Issuance of long-term debt	791.8
Net cash provided by (used in) financing activities	(220.9)	(454)
Net increase (decrease) in cash and cash equivalents	165.7	19.2
Cash and cash equivalents at beginning of period	412.4	131.5
Cash and cash equivalents at end of period	578.1	150.7
Principal Financial Services, Inc. Only
Operating activities
Net cash provided by (used in) operating activities	185.2	(373.5)
Investing activities
Dividends and returns of capital received from (contributions to) unconsolidated entities	212.7	714
Net change in other investments	(458.4)	(98.7)
Net cash provided by (used in) investing activities	(245.7)	615.3
Financing activities
Issuance of long-term debt	156
Capital received from (dividends and capital paid to) parent	(425.5)	(517.5)
Net cash provided by (used in) financing activities	(269.5)	(517.5)
Net increase (decrease) in cash and cash equivalents	(330)	(275.7)
Cash and cash equivalents at beginning of period	907.2	688.7
Cash and cash equivalents at end of period	577.2	413
Principal Life Insurance Company and Other Subsidiaries Combined
Operating activities
Net cash provided by (used in) operating activities	3,462.8	2,335.4
Investing activities
Available-for-sale securities: Purchases	(7,052.6)	(6,596)
Available-for-sale securities: Sales	1,410.8	1,871.5
Available-for-sale securities: Maturities	5,020.5	4,499.3
Mortgage loans acquired or originated	(1,658)	(1,614.2)
Mortgage loans sold or repaid	1,175.3	1,319.8
Real estate acquired	(255.8)	(246.8)
Net (purchases) sales of property and equipment	(96.3)	(117.5)
Purchases of interest in subsidiaries, net of cash acquired	(293.7)
Net change in other investments	45.5	185.2
Net cash provided by (used in) investing activities	(1,704.3)	(698.7)
Financing activities
Proceeds from financing element derivatives	0.2	14.9
Payments for financing element derivatives	(60.9)	(41.5)
Excess tax benefits from share-based payment arrangements	14.5	8.3
Purchase of subsidiary shares from noncontrolling interest	(22.5)	(222.4)
Issuance of long-term debt	50.9	36.5
Principal repayments of long-term debt	(94.9)	(100.3)
Net proceeds from (repayments of) short-term borrowings	188.4	(113.5)
Capital received from (dividends and capital paid to) parent	(212.7)	(714)
Investment contract deposits	4,190.3	4,184.3
Investment contract withdrawals	(4,974.3)	(5,864.3)
Net increase (decrease) in banking operation deposits	24.9	(2.3)
Other	(10.4)	(10)
Net cash provided by (used in) financing activities	(906.5)	(2,824.3)
Net increase (decrease) in cash and cash equivalents	852	(1,187.6)
Cash and cash equivalents at beginning of period	1,598	2,384
Cash and cash equivalents at end of period	2,450	1,196.4
Eliminations, Shelf Registration Debt Guarantor
Operating activities
Net cash provided by (used in) operating activities	(284.6)	278
Investing activities
Dividends and returns of capital received from (contributions to) unconsolidated entities	(638.2)	(1,231.5)
Net change in other investments	394.4	(27.9)
Net cash provided by (used in) investing activities	(243.8)	(1,259.4)
Financing activities
Issuance of long-term debt	(198.3)
Principal repayments of long-term debt	42.3
Net proceeds from (repayments of) short-term borrowings	8.8	93
Capital received from (dividends and capital paid to) parent	638.2	1,231.5
Net cash provided by (used in) financing activities	491	1,324.5
Net increase (decrease) in cash and cash equivalents	(37.4)	343.1
Cash and cash equivalents at beginning of period	(1,053.7)	(832.4)
Cash and cash equivalents at end of period	$ (1,091.1)	$ (489.3)