Principal Financial Group 2009 Annual Report Download - page 24

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SuMMARy COnSOLiDATED STATEMEnTS OF inCOME
Principal Financial Group, Inc.
For the year ended December 31,
2009 2008 2007
(in millions, except per share data)
Revenues
Premiums and other considerations $ 3,750.6 $ 4,209.2 $ 4,634.1
Fees and other revenues 2,096.0 2,426.5 2,634.7
Net investment income 3,400.8 3,994.3 3,966.5
Net realized capital gains (losses), excluding impairment losses on available-for-sale securities 54.9 (214.8) (14.7)
Total other-than-temporary impairment losses on available-for-sale securities (714.1) (479.3) (314.1)
Portion of impairment losses on fixed maturities, available-for-sale recognized in other
comprehensive income 260.9 — —
Net impairment losses on available-for-sale securities (453.2) (479.3) (314.1)
Net realized capital losses (398.3) (694.1) (328.8)
Total revenues 8,849.1 9,935.9 10,906.5
Expenses
Benefits, claims and settlement expenses 5,334.5 6,219.9 6,435.3
Dividends to policyholders 242.2 267.3 293.8
Operating expenses 2,526.6 2,987.4 3,105.0
Total expenses 8,103.3 9,474.6 9,834.1
Income from continuing operations before income taxes 745.8 461.3 1,072.4
Income taxes (benefits) 100.1 (4.5) 208.1
Income from continuing operations, net of related income taxes 645.7 465.8 864.3
Income from discontinued operations, net of related income taxes — — 20.2
Net income 645.7 465.8 884.5
Net income attributable to noncontrolling interest 23.0 7.7 24.2
Net income attributable to Principal Financial Group, Inc. 622.7 458.1 860.3
Preferred stock dividends 33.0 33.0 33.0
Net income available to common stockholders $ 589.7 $ 425.1 $ 827.3
Earnings per common share
Basic earnings per common share:
Income from continuing operations, net of related income taxes $ 1.98 $ 1.64 $ 3.04
Income from discontinued operations, net of related income taxes — — 0.08
Net income $ 1.98 $ 1.64 $ 3.12
Diluted earnings per common share:
Income from continuing operations, net of related income taxes $ 1.97 $ 1.63 $ 3.01
Income from discontinued operations, net of related income taxes — — 0.08
Net income $ 1.97 $ 1.63 $ 3.09
The information in the summary consolidated statements of income shown above has been prepared in conformity with accounting principles generally accepted in the U.S. (“U.S. GAAP”).
It is a replication of the information in the consolidated statements of operations in the Principal Financial Group, Inc.’s 2009 Form 10-K. For complete financial statements, including notes
and management’s discussion and analysis of financial condition and results of operations, please refer to the 2009 Form 10-K filed by the company with the Securities and Exchange
Commission, which can be found at www.principal.com/10k.
the principal financial group
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