Principal Financial (PFG) Quarterly Balance Sheet

Balance Sheet Summary

Principal Financial Group (PFG) quarterly balance sheet covering the six quarters from March 2025 to June 2026, as reported to the SEC.

Principal Financial Group had total assets of $352.75B and total liabilities of $339.86B as of June 30, 2026. That leaves shareholders' equity of $12.89B.
Total assets were up 9.2% from $323.1B a year earlier.
Cash and cash equivalents were $5.26B, up 43.7% from $3.66B. That is 1.5% of total assets.
Long-term debt was $4.32B, or 1.2% of total assets, up 10.2% from $3.92B.
Principal Financial Group has built up retained earnings of $18.54B.

A balance sheet shows what a company owns and what it owes on a single date. The difference between the two belongs to shareholders.

Figures in USD millions

						Jun'26	Mar'26	Dec'25	Sep'25	Jun'25	Mar'25
Assets
Fixed maturities, available-for-sale
73,986	72,910	73,360	71,322	70,558	69,726	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Fixed maturities, available-for-sale						73,986	72,910	73,360	71,322	70,558	69,726	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Fixed maturities, trading (2026 and 2025 include $150.6 million and $185.0 million related to consolidated variable interest entities)
1,087	1,268	1,243	1,356	1,235	1,307	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Fixed maturities, trading (2026 and 2025 include $150.6 million and $185.0 million related to consolidated variable interest entities)						1,087	1,268	1,243	1,356	1,235	1,307	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Equity securities (2026 and 2025 include $432.8 million and $428.6 million related to consolidated variable interest entities)
2,603	2,341	2,237	1,649	1,587	2,428	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Equity securities (2026 and 2025 include $432.8 million and $428.6 million related to consolidated variable interest entities)						2,603	2,341	2,237	1,649	1,587	2,428	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Equity securities, available-for-sale
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Equity securities, available-for-sale						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Mortgage loans (2026 and 2025 include $680.5 million and $726.5 million related to consolidated variable interest entities)
21,092	21,128	21,008	20,681	20,663	20,260	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Mortgage loans (2026 and 2025 include $680.5 million and $726.5 million related to consolidated variable interest entities)						21,092	21,128	21,008	20,681	20,663	20,260	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Real estate (2026 and 2025 include $854.0 million and $819.4 million related to consolidated variable interest entities)
2,447	2,406	2,409	2,387	2,496	2,480	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Real estate (2026 and 2025 include $854.0 million and $819.4 million related to consolidated variable interest entities)						2,447	2,406	2,409	2,387	2,496	2,480	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Policy loans
875	873	866	870	873	875	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Policy loans						875	873	866	870	873	875	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other investments (2026 and 2025 include $981.1 million and $838.4 million related to consolidated variable interest entities and $88.2 million and $167.1 million measured at fair value under the fair value option)
10,908	9,929	9,775	9,340	8,712	8,215	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other investments (2026 and 2025 include $981.1 million and $838.4 million related to consolidated variable interest entities and $88.2 million and $167.1 million measured at fair value under the fair value option)						10,908	9,929	9,775	9,340	8,712	8,215	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total investments
113,001	110,857	110,901	107,608	106,126	105,294	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total investments						113,001	110,857	110,901	107,608	106,126	105,294	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cash and cash equivalents (2026 and 2025 include $103.2 million and $89.1 million related to consolidated variable interest entities)
5,259	4,054	4,431	5,137	3,659	3,875	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cash and cash equivalents (2026 and 2025 include $103.2 million and $89.1 million related to consolidated variable interest entities)						5,259	4,054	4,431	5,137	3,659	3,875	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accrued investment income (2026 and 2025 include $48.9 million and $43.8 million related to consolidated variable interest entities)
917	910	870	899	877	887	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accrued investment income (2026 and 2025 include $48.9 million and $43.8 million related to consolidated variable interest entities)						917	910	870	899	877	887	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Reinsurance recoverable and deposit receivable
18,589	18,745	19,000	19,257	19,335	19,392	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Reinsurance recoverable and deposit receivable						18,589	18,745	19,000	19,257	19,335	19,392	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Premiums due and other receivables
3,796	3,643	3,894	3,771	3,789	3,726	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Premiums due and other receivables						3,796	3,643	3,894	3,771	3,789	3,726	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Deferred acquisition costs
4,102	4,089	4,071	4,057	4,048	4,034	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Deferred acquisition costs						4,102	4,089	4,071	4,057	4,048	4,034	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Market risk benefit asset
202	163	197	187	180	158	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Market risk benefit asset						202	163	197	187	180	158	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Property and equipment
778	714	701	716	724	742	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Property and equipment						778	714	701	716	724	742	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Goodwill
1,595	1,588	1,600	1,577	1,583	1,567	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Goodwill						1,595	1,588	1,600	1,577	1,583	1,567	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other intangibles
1,263	1,272	1,267	1,268	1,282	1,290	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other intangibles						1,263	1,272	1,267	1,268	1,282	1,290	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Separate account assets (2026 and 2025 include $43,323.8 million and $41,450.5 million related to consolidated variable interest entities)
202,396	185,788	193,622	189,251	180,728	171,266	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Separate account assets (2026 and 2025 include $43,323.8 million and $41,450.5 million related to consolidated variable interest entities)						202,396	185,788	193,622	189,251	180,728	171,266	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other assets
850	876	818	759	767	767	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other assets						850	876	818	759	767	767	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total assets
352,752	332,704	341,376	334,491	323,103	313,003	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total assets						352,752	332,704	341,376	334,491	323,103	313,003	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Liabilities
Contractholder funds
47,068	45,898	45,380	44,421	43,394	43,266	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Contractholder funds						47,068	45,898	45,380	44,421	43,394	43,266	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Future policy benefits and claims
51,248	50,938	51,749	50,732	49,945	49,359	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Future policy benefits and claims						51,248	50,938	51,749	50,732	49,945	49,359	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Market risk benefit liability
65	81	66	69	68	80	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Market risk benefit liability						65	81	66	69	68	80	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other policyholder funds
944	950	940	944	935	933	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other policyholder funds						944	950	940	944	935	933	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Short-term debt
16	18	27	13	24	28	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Short-term debt						16	18	27	13	24	28	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Long-term debt
4,324	3,927	3,926	3,924	3,923	4,321	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Long-term debt						4,324	3,927	3,926	3,924	3,923	4,321	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income taxes currently payable
16	46	29	26	18	8	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income taxes currently payable						16	46	29	26	18	8	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Deferred income taxes
1,932	1,864	1,856	1,794	1,768	1,786	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Deferred income taxes						1,932	1,864	1,856	1,794	1,768	1,786	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Separate account liabilities (2026 and 2025 include $43,323.8 million and $41,450.5 million related to consolidated variable interest entities)
202,396	185,788	193,622	189,251	180,728	171,266	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Separate account liabilities (2026 and 2025 include $43,323.8 million and $41,450.5 million related to consolidated variable interest entities)						202,396	185,788	193,622	189,251	180,728	171,266	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Funds withheld payable
17,370	17,453	17,783	18,113	18,010	18,212	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Funds withheld payable						17,370	17,453	17,783	18,113	18,010	18,212	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other liabilities (2026 and 2025 include $71.2 million and $69.4 million related to consolidated variable interest entities)
14,480	13,345	13,601	13,074	12,427	12,145	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other liabilities (2026 and 2025 include $71.2 million and $69.4 million related to consolidated variable interest entities)						14,480	13,345	13,601	13,074	12,427	12,145	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total liabilities
339,862	320,311	328,985	322,363	311,245	301,408	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total liabilities						339,862	320,311	328,985	322,363	311,245	301,408	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Redeemable noncontrolling interest (2026 and 2025 include $672.1 million and $440.9 million related to consolidated variable interest entities)
711	544	474	410	391	326	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Redeemable noncontrolling interest (2026 and 2025 include $672.1 million and $440.9 million related to consolidated variable interest entities)						711	544	474	410	391	326	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Stockholders' equity
Common stock, par value $0.01 per share; 2,500,000,000 shares authorized; 499,185,352 and 496,884,232 shares issued as of 2026 and 2025; 214,635,434 and 217,380,912 shares outstanding as of 2026 and 2025
5	5	5	5	5	5	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Common stock, par value $0.01 per share; 2,500,000,000 shares authorized; 499,185,352 and 496,884,232 shares issued as of 2026 and 2025; 214,635,434 and 217,380,912 shares outstanding as of 2026 and 2025						5	5	5	5	5	5	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Additional paid-in capital
11,429	11,350	11,275	11,238	11,202	11,157	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Additional paid-in capital						11,429	11,350	11,275	11,238	11,202	11,157	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Retained earnings (accumulated losses)
18,542	18,318	18,071	17,730	17,692	17,459	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Retained earnings (accumulated losses)						18,542	18,318	18,071	17,730	17,692	17,459	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accumulated other comprehensive loss
-4,065	-4,343	-4,188	-4,306	-4,713	-4,785	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accumulated other comprehensive loss						-4,065	-4,343	-4,188	-4,306	-4,713	-4,785	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Treasury stock, at cost; 284,549,918 and 279,503,320 shares as of 2026 and 2025
13,767	13,515	13,279	13,001	12,771	12,619	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Treasury stock, at cost; 284,549,918 and 279,503,320 shares as of 2026 and 2025						13,767	13,515	13,279	13,001	12,771	12,619	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total stockholders' equity attributable to Principal Financial Group, Inc.
12,142	11,815	11,883	11,665	11,415	11,216	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total stockholders' equity attributable to Principal Financial Group, Inc.						12,142	11,815	11,883	11,665	11,415	11,216	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Noncontrolling interest
35	33	33	52	52	51	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Noncontrolling interest						35	33	33	52	52	51	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total stockholders' equity
12,177	11,848	11,917	11,717	11,467	11,268	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total stockholders' equity						12,177	11,848	11,917	11,717	11,467	11,268	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total liabilities and stockholders' equity
352,752	332,704	341,376	334,491	323,103	313,003	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total liabilities and stockholders' equity						352,752	332,704	341,376	334,491	323,103	313,003	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx