Company Quick10K Filing
Principal Financial Group
Price57.37 EPS5
Shares281 P/E12
MCap16,144 P/FCF4
Net Debt595 EBIT1,558
TEV16,739 TEV/EBIT11
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-03-31 Filed 2020-04-29
10-K 2019-12-31 Filed 2020-02-14
10-Q 2019-09-30 Filed 2019-10-30
10-Q 2019-06-30 Filed 2019-07-31
10-Q 2019-03-31 Filed 2019-05-02
10-K 2018-12-31 Filed 2019-02-13
10-Q 2018-09-30 Filed 2018-10-31
10-Q 2018-06-30 Filed 2018-08-01
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10-K 2017-12-31 Filed 2018-02-09
10-Q 2017-09-30 Filed 2017-11-01
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10-K 2016-12-31 Filed 2017-02-08
10-Q 2016-09-30 Filed 2016-11-02
10-Q 2016-06-30 Filed 2016-08-03
10-Q 2016-03-31 Filed 2016-05-04
10-K 2015-12-31 Filed 2016-02-10
10-Q 2015-09-30 Filed 2015-10-28
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10-Q 2015-03-31 Filed 2015-04-29
10-K 2014-12-31 Filed 2015-02-11
10-Q 2014-09-30 Filed 2014-10-29
10-Q 2014-06-30 Filed 2014-07-30
10-Q 2014-03-31 Filed 2014-04-30
10-K 2013-12-31 Filed 2014-02-12
10-Q 2013-09-30 Filed 2013-10-30
10-Q 2013-06-30 Filed 2013-07-31
10-Q 2013-03-31 Filed 2013-05-01
10-K 2012-12-31 Filed 2013-02-13
10-Q 2012-09-30 Filed 2012-10-31
10-Q 2012-06-30 Filed 2012-08-01
10-Q 2012-03-31 Filed 2012-05-02
10-K 2011-12-31 Filed 2012-02-15
10-Q 2011-09-30 Filed 2011-11-02
10-Q 2011-06-30 Filed 2011-08-03
10-Q 2011-03-31 Filed 2011-05-04
10-K 2010-12-31 Filed 2011-02-16
10-Q 2010-09-30 Filed 2010-11-03
10-Q 2010-06-30 Filed 2010-08-04
10-Q 2010-03-31 Filed 2010-05-05
10-K 2009-12-31 Filed 2010-02-17
8-K 2020-06-09
8-K 2020-05-26
8-K 2020-05-19
8-K 2020-04-27
8-K 2020-04-21
8-K 2020-01-28
8-K 2020-01-21
8-K 2019-12-11
8-K 2019-10-24
8-K 2019-10-16
8-K 2019-10-15
8-K 2019-08-19
8-K 2019-07-25
8-K 2019-07-17
8-K 2019-05-21
8-K 2019-05-07
8-K 2019-04-25
8-K 2019-04-16
8-K 2019-04-09
8-K 2019-03-14
8-K 2019-02-22
8-K 2019-01-28
8-K 2019-01-16
8-K 2018-12-11
8-K 2018-12-03
8-K 2018-12-03
8-K 2018-11-28
8-K 2018-11-15
8-K 2018-11-12
8-K 2018-10-25
8-K 2018-10-15
8-K 2018-10-08
8-K 2018-09-27
8-K 2018-09-10
8-K 2018-08-03
8-K 2018-07-26
8-K 2018-07-23
8-K 2018-07-16
8-K 2018-06-04
8-K 2018-05-22
8-K 2018-04-26
8-K 2018-04-16
8-K 2018-04-16
8-K 2018-03-15
8-K 2018-02-27
8-K 2018-02-02
8-K 2018-01-29
8-K 2018-01-22
8-K 2015-08-18
8-K 2015-07-23
8-K 2015-07-17
8-K 2015-05-19
8-K 2015-05-19
8-K 2015-05-13
8-K 2015-05-04
8-K 2015-05-04
8-K 2015-04-23
8-K 2015-04-15
8-K 2015-03-18
8-K 2015-03-11
8-K 2015-01-29
8-K 2015-01-21

PFG 10Q Quarterly Report

Part I - Financial Information
Item 1. Financial Statements
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II - Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 6. Exhibits
EX-31 pfg-20200331xex31d1.htm
EX-31 pfg-20200331xex31d2.htm
EX-32 pfg-20200331xex32d1.htm
EX-32 pfg-20200331xex32d2.htm

Principal Financial Group Earnings 2020-03-31

Balance SheetIncome StatementCash Flow
2752201651105502012201420172020
Assets, Equity
4.73.82.81.90.90.02012201420172020
Rev, G Profit, Net Income
2.11.20.2-0.7-1.7-2.62012201420172020
Ops, Inv, Fin

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Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2020

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

1-16725

(Commission file number)

PRINCIPAL FINANCIAL GROUP, INC.

(Exact name of registrant as specified in its charter)

Delaware

    

42-1520346

(State or other jurisdiction of incorporation or organization)

(I.R.S. Employer Identification Number)

711 High Street, Des MoinesIowa 50392

(Address of principal executive offices)

(515) 247-5111

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading symbol(s)

Name of each exchange on which registered

Common Stock

PFG

Nasdaq Global Select Market

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes  No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes  No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer

Accelerated filer   

Non-accelerated filer   

Smaller reporting company   

Emerging growth company   

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No

The total number of shares of the registrant’s Common Stock, $0.01 par value, outstanding as of April 22, 2020, was 273,867,770.

Table of Contents

PRINCIPAL FINANCIAL GROUP, INC.

TABLE OF CONTENTS

    

Page

Part I - FINANCIAL INFORMATION

Item 1.

Financial Statements

3

Condensed Consolidated Statements of Financial Position as of March 31, 2020 (Unaudited) and December 31, 2019

3

Unaudited Condensed Consolidated Statements of Operations for the three months ended March 31, 2020 and 2019

4

Unaudited Condensed Consolidated Statements of Comprehensive Income for the three months ended March 31, 2020 and 2019

5

Unaudited Condensed Consolidated Statements of Stockholders’ Equity for the three  months ended March 31, 2020 and 2019

6

Unaudited Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2020 and 2019

7

Notes to Unaudited Condensed Consolidated Financial Statements — March 31, 2020

8

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

88

Item 3.

Quantitative and Qualitative Disclosures about Market Risk

118

Item 4.

Controls and Procedures

124

Part II — OTHER INFORMATION

Item 1.

Legal Proceedings

125

Item 1A.

Risk Factors

125

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

126

Item 6.

Exhibits

127

Signature

128

2

Table of Contents

PART I — FINANCIAL INFORMATION

Item 1. Financial Statements

Principal Financial Group, Inc.
Condensed Consolidated Statements of Financial Position

March 31, 

December 31, 

    

2020

    

2019

(Unaudited)

(in millions)

Assets

Fixed maturities, available-for-sale (2020 and 2019 include $34.8 million and $99.4 million related to consolidated variable interest entities)

$

68,707.8

$

70,106.2

Fixed maturities, trading

 

596.0

 

675.9

Equity securities (2020 and 2019 include $728.5 million and $810.9 million related to consolidated variable interest entities)

 

1,664.1

 

1,879.4

Mortgage loans

 

16,645.9

 

16,486.9

Real estate (2020 and 2019 include $395.7 million and $457.6 million related to consolidated variable interest entities)

 

1,657.5

 

1,714.8

Policy loans

 

797.0

 

798.0

Other investments (2020 and 2019 include $270.4 million and $263.7 million related to consolidated variable interest entities and $22.7 million and $22.8 million measured at fair value under the fair value option)

 

4,707.0

 

4,690.2

Total investments

 

94,775.3

 

96,351.4

Cash and cash equivalents

 

3,482.7

 

2,515.9

Accrued investment income

 

721.7

 

686.6

Premiums due and other receivables

 

1,691.0

 

1,740.3

Deferred acquisition costs

3,679.8

 

3,521.3

Property and equipment

973.8

 

967.7

Goodwill

1,616.4

 

1,693.8

Other intangibles

1,716.6

 

1,786.7

Separate account assets (2020 and 2019 include $30,858.6 million and $39,130.3 million related to consolidated variable interest entities)

 

136,836.0

 

165,468.0

Other assets