Company Quick10K Filing
Quick10K
Principal Financial Group
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$52.51 279 $14,627
10-Q 2019-06-30 Quarter: 2019-06-30
10-Q 2019-03-31 Quarter: 2019-03-31
10-K 2018-12-31 Annual: 2018-12-31
10-Q 2018-09-30 Quarter: 2018-09-30
10-Q 2018-06-30 Quarter: 2018-06-30
10-Q 2018-03-31 Quarter: 2018-03-31
10-K 2017-12-31 Annual: 2017-12-31
10-Q 2017-09-30 Quarter: 2017-09-30
10-Q 2017-06-30 Quarter: 2017-06-30
10-Q 2017-03-31 Quarter: 2017-03-31
10-K 2016-12-31 Annual: 2016-12-31
10-Q 2016-09-30 Quarter: 2016-09-30
10-Q 2016-06-30 Quarter: 2016-06-30
10-Q 2016-03-31 Quarter: 2016-03-31
10-K 2015-12-31 Annual: 2015-12-31
10-Q 2015-09-30 Quarter: 2015-09-30
10-Q 2015-06-30 Quarter: 2015-06-30
10-Q 2015-03-31 Quarter: 2015-03-31
10-K 2014-12-31 Annual: 2014-12-31
10-Q 2014-09-30 Quarter: 2014-09-30
10-Q 2014-06-30 Quarter: 2014-06-30
10-Q 2014-03-31 Quarter: 2014-03-31
10-K 2013-12-31 Annual: 2013-12-31
8-K 2019-08-19 Officers, Exhibits
8-K 2019-07-25 Earnings, Exhibits
8-K 2019-07-17 Regulation FD
8-K 2019-05-21 Shareholder Vote
8-K 2019-05-07 Enter Agreement, Off-BS Arrangement, Other Events, Exhibits
8-K 2019-04-25 Earnings, Exhibits
8-K 2019-04-16 Regulation FD
8-K 2019-04-09 Enter Agreement, Regulation FD, Exhibits
8-K 2019-03-14 Regulation FD
8-K 2019-02-22 Other Events, Exhibits
8-K 2019-01-28 Earnings, Exhibits
8-K 2019-01-16 Regulation FD
8-K 2018-12-11 Other Events, Exhibits
8-K 2018-12-03 Other Events, Exhibits
8-K 2018-11-28 Officers, Exhibits
8-K 2018-11-15 Earnings, Regulation FD, Exhibits
8-K 2018-11-12 Other Events, Exhibits
8-K 2018-10-25 Earnings, Exhibits
8-K 2018-10-15 Regulation FD
8-K 2018-10-08 Other Events, Exhibits
8-K 2018-09-27 Earnings, Regulation FD, Exhibits
8-K 2018-09-10 Officers, Exhibits
8-K 2018-08-03 Regulation FD
8-K 2018-07-26 Earnings, Exhibits
8-K 2018-07-23 Other Events, Exhibits
8-K 2018-07-16 Regulation FD
8-K 2018-06-04 Other Events, Exhibits
8-K 2018-05-22 Shareholder Vote
8-K 2018-04-26 Earnings, Exhibits
8-K 2018-04-16 Other Events, Exhibits
8-K 2018-03-15 Off-BS Arrangement
8-K 2018-02-27 Amend Bylaw, Exhibits
8-K 2018-02-02 Other Events, Exhibits
8-K 2018-01-29 Earnings, Exhibits
8-K 2018-01-22 Regulation FD
AFL Aflac 38,660
AIZ Assurant 7,430
UNM Unum Group 5,570
FHB First Hawaiian 3,432
CNO CNO Financial Group 2,254
GTS Triple-S Management 462
HRTG Heritage Insurance Holdings 439
BCML Baycom 232
FCCY 1st Constitution Bancorp 149
SCACU Saban Capital Acquisition 66
PFG 2019-06-30
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-31.1 pfg-20190630ex311207755.htm
EX-31.2 pfg-20190630ex312d2ea6b.htm
EX-32.1 pfg-20190630ex321c5fd3d.htm
EX-32.2 pfg-20190630ex3223bd790.htm

Principal Financial Group Earnings 2019-06-30

PFG 10Q Quarterly Report

Balance SheetIncome StatementCash Flow

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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 June 30, 2019

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 July 24, 2019, was 278,796,363.

Table of Contents

PRINCIPAL FINANCIAL GROUP, INC.

TABLE OF CONTENTS

    

Page

Part I - FINANCIAL INFORMATION

Item 1.

Financial Statements

3

Consolidated Statements of Financial Position as of June 30, 2019 (Unaudited) and December 31, 2018

3

Unaudited Consolidated Statements of Operations for the three and six months ended June 30, 2019 and 2018

4

Unaudited Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 2019 and 2018

5

Unaudited Consolidated Statements of Stockholders’ Equity for the three  and six months ended June 30, 2019 and 2018

6

Unaudited Consolidated Statements of Cash Flows for the six months ended June 30, 2019 and 2018

8

Notes to Unaudited Consolidated Financial Statements — June 30, 2019

9

Item 2.

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

102

Item 3.

Quantitative and Qualitative Disclosures about Market Risk

137

Item 4.

Controls and Procedures

143

Part II — OTHER INFORMATION

Item 1.

Legal Proceedings

144

Item 1A.

Risk Factors

144

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

146

Item 6.

Exhibits

147

Signature

148

2

Table of Contents

PART I — FINANCIAL INFORMATION

Item 1. Financial Statements

Principal Financial Group, Inc.
Consolidated Statements of Financial Position

December 31, 

    

June 30, 2019

    

2018

(Unaudited)

(in millions)

Assets

Fixed maturities, available-for-sale (2019 and 2018 include $97.9 million and $94.5 million related to consolidated variable interest entities)

$

65,268.1

$

60,108.5

Fixed maturities, trading

 

686.8

 

636.1

Equity securities (2019 and 2018 include $831.7 million and $774.8 million related to consolidated variable interest entities)

 

1,895.2

 

1,843.7

Mortgage loans

 

16,136.8

 

15,336.9

Real estate (2019 and 2018 include $384.8 million and $364.0 million related to consolidated variable interest entities)

 

1,740.4

 

1,729.7

Policy loans

 

800.9

 

801.4

Other investments (2019 and 2018 include $288.8 million and $457.9 million related to consolidated variable interest entities and $24.5 million and $23.6 million measured at fair value under the fair value option)

 

4,667.0

 

4,310.3

Total investments

 

91,195.2

 

84,766.6

Cash and cash equivalents

 

3,315.9

 

2,977.5

Accrued investment income

 

663.8

 

636.2

Premiums due and other receivables

 

1,549.2

 

1,413.1

Deferred acquisition costs

3,519.5

 

3,693.5

Property and equipment

959.5

 

767.3

Goodwill

1,111.5