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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 ExhibitsSecond Quarter 2018 Earnings ReleaseBy: /s/ Deanna D. Strable-SoethoutName: Deanna D. Strable-SoethoutTitle: Executive Vice President and Chief Financial OfficerDate: July 26, 2018EXHIBIT 99Company Highlights• Second quarter 2018 net income attributable to Principal Financial Group, Inc. (PFG) of $456.6 million, or $1.58 per diluted share• Second quarter 2018 non-GAAP operating earnings1 of $391.4 million, or $1.35 per diluted share• Assets under management (AUM) of $666.6 billion, up 6 percent over second quarter 2017• Company declares third quarter 2018 common stock dividend of $0.53 per share; a 13 percent increase over the third quarter 2017Retirement and Income Solutions - Fee(in millions except percentages or otherwise noted)QuarterTrailing Twelve Months2Q182Q17% ChangePre-tax operating earnings5(8)%Net revenue60%2%Pre-tax return on net revenue733.4%36.3%31.3%34.7%Retirement and Income Solutions - SpreadPre-tax operating earnings(16)%Net revenue(12)%(3)%Pre-tax return on net revenue63.9%66.4%68.4%66.0%Principal Global Investors10%6%Operating revenues less pass-through commissions7%5%Pre-tax return on operating revenues less pass-through commissions938.0%37.1%37.5%37.0%Total PGI assets under management (billions)PGI sourced assets under management (billions)4%Principal InternationalCombined10 net revenue(at PFG share)12%Pre-tax return on combined net revenue (at PFG share)33.3%35.6%38.3%Assets under management (billions)Specialty Benefits Insurance9%Premium and fees8%Pre-tax return on premium and fees1111.9%12.7%13.2%Incurred loss ratio62.8%63.7%61.9%64.1%Individual Life Insurance11%19%(1)%Pre-tax return on premium and fees16.9%15.1%12.3%10.9%CorporatePre-tax operating losses(4)%Summary of Principal Financial Group, Inc. and Segment ResultsPrincipal Financial Group, Inc. Results:(in millions)Three Months Ended,Trailing Twelve Months,6/30/186/30/17Net income attributable to PFGNet realized capital (gains) losses, as adjustedOther after-tax adjustmentsNon-GAAP Operating Earnings*Income taxesNon-GAAP Pre-Tax Operating EarningsSegment Pre-Tax Operating Earnings (Losses):Retirement and Income SolutionsU.S. Insurance SolutionsTotal Segment Pre-Tax Operating EarningsPer Diluted ShareSix Months Ended,Net incomeNon-GAAP Operating EarningsWeighted-average diluted common shares outstanding (in millions)*U.S. GAAP (GAAP) net income attributable to PFG versus non-GAAP operating earningsSelected Balance Sheet StatisticsPeriod Ended,12/31/17Total 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 adjustmentPrincipal Financial Group, Inc.Reconciliation of U.S. GAAP to Non-GAAP Financial Measures(in millions, except as indicated)Stockholders’ Equity, Excluding AOCI Other Than Foreign Currency Translation Adjustment, Available to Common Stockholders:Stockholders’ equityNoncontrolling interestStockholders’ equity available to common stockholdersNet unrealized capital (gains) lossesNet unrecognized postretirement benefit obligationStockholders’ equity, excluding AOCI other than foreign currency translation adjustment, available to common stockholdersBook Value Per Common Share, Excluding AOCI Other Than Foreign Currency Translation Adjustment:Book value per common share, excluding AOCI other than foreign currency translation adjustmentPrincipal Financial Group, Inc.Reconciliation of U.S. GAAP to Non-GAAP Financial Measures(in millions)Income Taxes:Total GAAP income taxes (benefits)Net realized capital gains (losses) tax adjustmentsTax benefit related to other after-tax adjustments—Income taxes related to equity method investments and noncontrolling interestNet Realized Capital Gains (Losses):GAAP net realized capital gains (losses)Recognition of front-end fee revenuesMarket value adjustments to fee revenuesNet realized capital gains (losses) related to equity method investmentsDerivative and hedging-related adjustmentsSponsored investment fund adjustmentsAmortization of deferred acquisition costsCapital gains distributed – operating expensesAmortization of other actuarial balancesMarket value adjustments of embedded derivativesCapital gains distributed – cost of interest creditedNet realized capital gains (losses) attributable to noncontrolling interest, after-taxTotal net realized capital gains (losses) after-tax adjustmentsNet realized capital gains (losses), as adjustedOther After-Tax Adjustments:Contribution to PFG FoundationPre-tax$—TaxTax Cuts and Jobs Act:Early extinguishment of debt:Total other after-tax adjustmentsPrincipal Global Investors Operating Revenues Less Pass-Through Commissions:Operating revenuesCommission expensePrincipal International Combined Net Revenue (at PFG Share)Combined operating expenses other than pass-through commissions (at PFG share)Combined net revenue (at PFG share)PK ! =q docProps/app.xml
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