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PRINCIPAL FINANCIAL GROUP, INC.Delaware1-1672542-1520346(State or other jurisdiction(Commission file number)(I.R.S. Employerof incorporation)Identification Number)Item 9.01 Financial Statements and ExhibitsExhibit No.DescriptionSecond Quarter 2016 Earnings ReleaseBy: /s/ Terrance J. LillisName: Terrance J. LillisTitle: Executive Vice President and Chief Financial OfficerDate: July 28, 2016EXHIBIT 99Company Highlights• Second quarter 2016 net income available to common stockholders of $322.3 million, or $1.10 per diluted share;• Second quarter 2016 operating earnings1 of $337.1 million, or $1.15 per diluted share;• Record assets under management (AUM) of $572.7 billion• Company declares third quarter 2016 common stock dividend of $0.41 per share, a 5 percent increase over the second quarter 2016 dividend.• Repurchased 2.5 million shares of common stock at an average price of $42.06Retirement and Income Solutions - Fee(in millions except percentages or otherwise noted)QuarterTrailing Twelve Months2Q162Q15% ChangePre-tax operating earnings7(13)%(22)%Net revenue8(5)%(4)%Pre-tax return on net revenue932.6%35.7%29.3%*35.9%*Pre-tax return on net revenue - After adjusting for the third quarter 2015 actuarial assumption review, the trailing twelve month pre-tax return on net revenue was 31.6 percent.Retirement and Income Solutions - SpreadPre-tax operating earnings(3)%Net revenue(2)%Pre-tax return on net revenue57.7%58.7%56.5%*57.1%* Pre-tax return on net revenue - After adjusting for the third quarter 2015 actuarial assumption review, the trailing twelve month pre-tax return on net revenue was 55.0 percent.Principal Global Investors19%5%Adjusted revenue117%2%Pre-tax return on adjusted revenue1238.2%34.2%33.5%Total PGI assets under management (billions)6%Institutional assets under management(billions)Principal International(23)%Combined13 net revenue (at PFG share)0%(6)%Combined pre-tax return on net revenue36.1%37.3%33.7%41.1%(at PFG share)Assets under management (billions)11%Specialty Benefits Insurance29%Premium and fees8%Pre-tax return on premium and fees1414.3%12.0%12.8%*11.4%Incurred loss ratio61.7%65.2%62.5%64.4%*Pre-tax return on premium and fees - After adjusting for the third quarter 2015 actuarial assumption review, the trailing twelve month pre-tax return on premium and fees was 12.0 percent.Individual Life Insurance1%15%3%Pre-tax return on premium and fees14.8%15.3%22.0%*19.6%**Pre-tax return on premium and fees - After adjusting for the third quarter actuarial assumption reviews, the trailing twelve month pre-tax return on premium and fees was 15.4 percent for second quarter 2016 and 13.4 percent for second quarter 2015.CorporatePre-tax operating losses(18)%Summary of Segment and Principal Financial Group, Inc. ResultsSegment Pre-Tax Operating Earnings (Losses):(in millions)Three Months Ended,Trailing Twelve Months,6/30/166/30/15Retirement and Income SolutionsU.S. Insurance SolutionsPre-Tax Operating EarningsIncome taxesPreferred stock dividendsExcess of redemption value over carrying value of preferred shares redeemedOperating Earnings*Net realized capital gains (losses), as adjustedOther after-tax adjustmentsNet income available to common stockholdersPer Diluted ShareSix Months Ended,Operating EarningsNet incomeWeighted-average diluted common shares outstandingSelected Balance Sheet StatisticsPeriod Ended,12/31/15Total assets (in billions)Stockholders' equity (in millions)Total common equity (in millions)Total common equity excluding accumulated other comprehensive income (AOCI) other than foreign currency translation adjustment (in millions)End of period common shares outstanding (in millions)Book value per common shareBook value per common share excluding AOCI other than foreign currency translation adjustmentReconciliation of Non-GAAP Financial Measures to U.S. GAAPPeriod EndedStockholders’ Equity, Excluding AOCI Other Than Foreign Currency Translation Adjustment, Available to Common Stockholders:Stockholders’ equity, excluding AOCI other than foreign currency translation adjustment, available to common stockholdersNet unrealized capital gainsNet unrecognized postretirement benefit obligationStockholders’ equity available to common stockholdersNoncontrolling interestStockholders' equityBook Value Per Common Share, Excluding AOCI Other Than Foreign Currency Translation Adjustment:Book value per common share, excluding AOCI other than foreign currency translation adjustmentBook value per common share including AOCIIncome Taxes:Tax benefit related to net realized capital gains (losses), as adjustedTax benefit related to other after-tax adjustments—Certain adjustments related to equity method investments and noncontrolling interestTotal GAAP income taxesNet Realized Capital Gains (Losses):Certain derivative and hedging-related adjustmentsAmortization of DAC and other actuarial balancesCertain market value adjustments of embedded derivativesCertain adjustments related to sponsored investment fundsCapital gains (losses) distributedCertain adjustments related to equity method investmentsNoncontrolling interest capital gains (losses)Tax impactsRecognition of front-end fee revenuesNet realized capital losses associated with exited group medical insurance businessCertain market value adjustments to fee revenues$—GAAP net realized capital gains (losses)Other After-Tax Adjustments:Exited group medical insurance business:Pre-taxTaxImpact of a court ruling on some uncertain tax positions:Impact of enactment of tax legislation in Chile:Change in deferred tax balances related to merged Chilean entities:Total other after-tax adjustmentsPrincipal International Combined Net Revenue (at PFG Share) ReconciliationCombined net revenue (at PFG share)Less:Combined operating expenses (at PFG share)PK ! docProps/app.xml
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