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– Release Delayed ·As Of Filer Filing For·On·As Docs:Size 10/09/14 Principal Life Ins Co Sep Acct B N-4/A¶ 7:22M → Principal Life Insurance Co. Separate Account B ⇒ Principal Pivot Series Variable Annuity |
Document/Exhibit Description Pages Size 1: N-4/A Pivot-N4/A-2014 Pre-Eff #3 HTML 7.23M 7: COVER ¶ Comment-Response or Cover Letter to the SEC HTML 7K 5: EX-99.(B)(10)(A) Consent of Ernst & Young, LLP HTML 7K 6: EX-99.(B)(11) Financial Statement Schedules HTML 116K 2: EX-99.(B)(8)(D)(2) Calvert Consolidated Fund Pa 043014 HTML 19K 3: EX-99.(B)(8)(D)(4) Calvert Amendment to Consolidated Services HTML 16K Agrmt 043014 4: EX-99.(B)(9) Opinion of Counsel HTML 11K
VA PIVOT-N4/A-2014 Pre-Eff #3 Combined Document |
American Century Variable Portfolios, Inc. | Invesco
Variable Insurance Funds — Series II |
• Inflation Protection Fund — Class II | • Balanced-Risk Allocation Fund |
• Value Fund — Class II | • Global Health Care Fund |
American Funds Insurance Series | • International Growth Fund |
• Blue Chip Income & Growth Fund — Class 4 | Janus Aspen Series — Service Shares |
• Global Small Capitalization Fund — Class 4 | • Flexible
Bond Portfolio |
• Managed Risk Asset Allocation Fund — Class P2 | MFS Variable Insurance Trust — Service Class |
• Managed Risk Growth Fund — Class P2 | • International Value Portfolio |
• Managed Risk International Fund — Class P2 | • Utilities Series |
• New World Fund — Class 4 | PIMCO Variable Insurance Trust — Administrative Class |
Calvert Variable Products — Class F | • High
Yield Portfolio |
• EAFE International Index Portfolio | • Total Return Portfolio |
• Russell 2000 Small Cap Index Portfolio | Principal Variable Contracts Funds — Class 2 |
• S&P MidCap 400 Index Portfolio | • Diversified Balanced Managed Volatility Account(2) |
Deutsche Variable Insurance Portfolio(1) | • Diversified Growth Managed Volatility Account(2) |
• Alternative
Asset Allocation VIP — Class B | • Diversified International Account |
• Equity 500 Index VIP — Class B2 | • Equity Income Account |
• Small MidCap Value VIP — Class B | • Government & High Quality Bond Account |
Fidelity Variable Insurance Products — Service Class 2 | • LargeCap Blend Account II |
• Contrafund® Portfolio | • LargeCap Growth Account |
• MidCap
Portfolio | • Money Market Account |
• Overseas Portfolio | • Principal Capital Appreciation Division |
Franklin Templeton Variable Insurance Products Trust | • Real Estate Securities Account |
• Franklin Global Real Estate VIP Fund — Class 2 | • Short-Term Income Account |
• Franklin Rising Dividends VIP Fund — Class 4 | • SmallCap Growth Account II |
• Templeton
Global Bond VIP Fund — Class 4 | • SmallCap Value Account I |
Goldman Sachs Variable Insurance Trust — Service Shares | • Strategic Asset Management Balanced Portfolio(2) |
• MidCap Value Fund | • Strategic Asset Management Conservative Balanced Portfolio(2) |
• SmallCap Equity Insights Fund | • Strategic Asset Management Conservative Growth Portfolio(2) |
Guggenheim
Investments Variable Insurance Funds | • Strategic Asset Management Flexible Income Portfolio(2) |
• Series F (Guggenheim Floating Rate Strategies Series) | • Strategic Asset Management Strategic Growth Portfolio(2) |
• Global Managed Futures Strategy Fund | Rydex Variable Insurance |
• Series M (Guggenheim Macro Opportunities Series) | • Commodities Strategy Fund |
• Multi-Hedge
Strategies Fund | • NASDAQ 100 Fund |
• Long Short Equity Fund | Van Eck VIP Global Insurance Trust — Class S Shares |
• Global Hard Assets Fund |
(1) | Formally known as DWS Variable Insurance Portfolio. |
(2) | This
underlying mutual fund is a fund of funds. The fund of funds expenses may be higher than other fund types because the expenses of the selected fund include the expenses of the funds it holds. |
SEPARATE
ACCOUNT INVESTMENT OPTIONS | 2 |
GLOSSARY | |
SUMMARY OF EXPENSE INFORMATION | |
SUMMARY | |
1. THE
CONTRACT | |
How To Buy a Contract | |
Premium Payments | |
Allocating Premium Payments | |
Exchange Credit (for exchanges from our fixed deferred annuities) | |
Right
to Examine the Contract (free look) | |
Accumulated Value | |
Telephone and Internet Services | |
2. CHARGES AND DEDUCTIONS | |
Liquidity
Max | |
Surrender Charge | |
Free Surrender Amount | |
When Surrender Charges Do Not Apply | |
Waiver of Surrender Charge Rider | |
Transaction
Fee | |
Premium Taxes | |
Annual Fee | |
Separate Account Annual Expenses | |
Mortality and Expense Risks Charge | |
Administration
Charge | |
Liquidity Max | |
Optional Death Benefit Riders | |
Return of Premium Death Benefit Rider | |
Annual Step-Up Death Benefit Rider | |
3. TRANSFERS
AND SURRENDERS | |
Division Transfers | |
Unscheduled Transfers | |
Scheduled Transfers (Dollar Cost Averaging) | |
Automatic Portfolio Rebalancing (APR) | |
Deferred
Income Transfers | |
Surrenders | |
Total Surrender with Deferred Income Rider | |
Total Surrender without Deferred Income Rider | |
Unscheduled Partial Surrender | |
Scheduled
Partial Surrender | |
4. DEFERRED
INCOME RIDER | |
Deferred Income Rider Terms | |
Deferred Income Transfers | |
Initial Deferred Income Transfer | |
Subsequent Deferred Income Transfers | |
Deferred
Income Transfer Cancellation Period | |
Inactive Contract Status | |
Income Start Date | |
Income Start Date Change | |
Deferred Income Payments | |
Deferred
Income Payment Options | |
Deferred Income Payment Advancement | |
Optional Cost of Living Adjustment Features | |
Optional CPI-U Based Adjustment | |
Optional Fixed Percentage
Adjustment | |
Death Provisions of the Deferred Income Rider | |
Death Occurs Prior to the Income Start Date | |
Death Occurs After the Income Start Date | |
Notice of Death | |
Summary
Report | |
Termination | |
Delay of Deferred Income Transfer | |
5. THE ANNUITIZATION PERIOD | |
Annuitization
Date | |
Full Annuitization | |
Partial Annuitization | |
Annuity Benefit Payment Options | |
Death of Annuitant (During the Annuitization Period) | |
6. DEATH
BENEFIT | |
Payment of Death Benefit | |
Standard Death Benefit | |
Optional Death Benefit Riders | |
Return of Premium Death Benefit | |
Annual
Step-Up Death Benefit | |
7. ADDITIONAL
INFORMATION ABOUT THE CONTRACT | |
The Contract | |
Delay of Payments | |
Misstatement of Age or Gender | |
Assignment | |
Change
of Owner or Annuitant | |
Beneficiary | |
Contract Termination | |
Reinstatement | |
Reports | |
Important
Information About Customer Identification Procedures | |
Frequent Trading and Market-Timing (Abusive Trading Practices) | |
Distribution of the Contract | |
Performance Calculation | |
8. FEDERAL
TAX MATTERS | |
Taxation of Non-Qualified Contracts | |
Taxation of Qualified Contracts | |
Withholding | |
9. GENERAL
INFORMATION ABOUT THE COMPANY | |
Corporate Organization and Operation | |
Legal Opinions | |
Legal Proceedings | |
Other Variable Annuity Contracts | |
Householding | |
Payments
to Financial Intermediaries | |
Service Arrangements and Compensation | |
Mutual Fund Diversification | |
State Regulation | |
Independent Registered Public Accounting
Firm | |
Financial Statements | |
10. TABLE OF SEPARATE ACCOUNT DIVISIONS | |
11. REGISTRATION STATEMENT | |
12. TABLE
OF CONTENTS OF THE SAI | |
APPENDIX A — CONDENSED FINANCIAL INFORMATION |
Contract owner transaction expenses(1) | ||
Maximum | Current | |
Surrender
charge without the No Surrender Charge Rider ("Liquidity Max") (as a percentage of amount surrendered)(2) | 6% | 6% |
Surrender charge with Liquidity Max (as a percentage of amount surrendered) | 0% | 0% |
Transaction Fees | ||
• for each unscheduled partial surrender | the lesser
of $25 or 2% of each unscheduled partial surrender after the 12th unscheduled partial surrender in a contract year | $0 |
• for each unscheduled transfer(3) | the lesser of $25 or 2% of each unscheduled transfer after the first unscheduled transfer in a contract year | $0 |
State Premium Taxes (vary by state)(4) | 3.50% of premium payments made | 0% |
(1)
| For additional information about the fees and expenses described in the table, see 2. CHARGES AND DEDUCTIONS. |
(2) | Surrender charge for contracts without Liquidity Max (as a percentage of amounts surrendered): |
Table of surrender charges | |
Number of completed contract years since
each premium payment was made | Surrender charge applied to all premium payments received in that contract year |
0 (year of premium payment) | 6% |
1 | 6% |
2 | 6% |
3 | 5% |
4 | 4% |
5 | 3% |
6 | 2% |
7
and later | 0% |
(3) | Note that in addition to the fees shown, the Separate Account and/or sponsors of the underlying mutual funds may adopt requirements pursuant to rules and/or regulations adopted by federal and/or state regulators which require us to collect additional transaction fees and/or impose restrictions on transfers. |
(4) | We do not currently assess premium taxes for any Contract issued, but
reserve the right in the future to assess up to 3.50% of premium payments made for Contract owners in those states where a premium tax is assessed. |
Periodic Expenses | ||
Maximum
Annual Charge | Current Annual Charge | |
Annual Fee (waived for Contracts with accumulated value of $30,000 or more) | The lesser of $30 or 2.00% of the accumulated value | The lesser of $30 or 2.00% of the accumulated value |
Separate Account Annual Expenses | ||
Maximum Annual Charge | Current
Annual Charge | |
Mortality and Expense Risks Charge (as a percentage of average daily Separate Account value) | 1.15% | 1.00% |
Administration Charge (as a percentage of average daily Separate Account value) | 0.30% | 0.15% |
Total Separate Account Annual Expense | 1.45% | 1.15% |
Optional
Riders(1) | ||
Maximum Annual Charge | Current Annual Charge | |
Liquidity Max (as a percentage of average daily Separate Account value) | 0.55% | 0.25% |
Return of Premium Death Benefit Rider(2) (as a percentage of the average quarterly accumulated value) | 0.35% | 0.20% |
Annual
Step-up Death Benefit Rider(2) (as a percentage of the average quarterly accumulated value) | 0.50% | 0.35% |
(1) | Not all riders may be available in all states or through all broker dealers and may be subject to additional restrictions. Some rider provisions may vary from state to state. |
Minimum and Maximum Annual Underlying Mutual Fund Operating Expenses as of December 31, 2013 | ||
Minimum | Maximum | |
Total
annual underlying mutual fund operating expenses (expenses that are deducted from underlying mutual fund assets, including management fees, distribution and/or service (12b-1) fees and other expenses)* | 0.65% | 2.63% |
* | Some of the funds available are structured as a “fund of funds”. A fund of funds is a mutual fund that invests primarily in a portfolio of other mutual funds. The expenses shown include all the fees and expenses of the funds that a fund of funds holds in its portfolio. |
• | a
$10,000 premium payment to issue the Contract and no subsequent premium payments; |
• | a 5% return each year; |
• | an annual Contract fee of $30 (expressed as a percentage of the average accumulated value); |
• | the minimum and maximum annual underlying mutual fund operating expenses as of December
31, 2013 (without voluntary waivers of fees by the underlying funds, if any); |
• | no premium taxes are deducted. |
If
you surrender your Contract at the end of the applicable time period | If you do not surrender your Contract | If you fully annuitize your Contract at the end of the applicable time period | ||||||||||
1 Yr. | 3 Yrs. | 5 Yrs. | 10 Yrs. | 1 Yr. | 3 Yrs. | 5 Yrs. | 10 Yrs. | 1 Yr. | 3 Yrs. | 5 Yrs. | 10 Yrs. | |
Maximum
Total Underlying Mutual Fund Operating Expenses (2.63%) | $994 | $1,906 | $2,642 | $4,594 | $451 | $1,359 | $2,274 | $4,594 | $451 | $1,359 | $2,274 | $4,594 |
Minimum
Total Underlying Mutual Fund Operating Expenses (0.65%) | $812 | $1,375 | $1,750 | $2,869 | $258 | $791 | $1,350 | $2,869 | $258 | $791 | $1,350 | $2,869 |
• | a $10,000 premium payment to issue the Contract and no subsequent premium payments; |
• | a
5% return each year; |
• | an annual Contract fee of $30 (expressed as a percentage of the average accumulated value); |
• | the minimum and maximum annual underlying mutual fund operating expenses as of December 31, 2013 (without voluntary waivers of fees by the underlying funds, if any); |
• | no
premium taxes are deducted. |
If you surrender your Contract at the end of the applicable time period | If
you do not surrender your Contract | If you fully annuitize your Contract at the end of the applicable time period | ||||||||||
1 Yr. | 3 Yrs. | 5 Yrs. | 10 Yrs. | 1 Yr. | 3 Yrs. | 5 Yrs. | 10 Yrs. | 1 Yr. | 3 Yrs. | 5 Yrs. | 10 Yrs. | |
Maximum
Total Underlying Mutual Fund Operating Expenses (2.63%) | $505 | $1,513 | $2,517 | $5,016 | $505 | $1,513 | $2,517 | $5,016 | $505 | $1,513 | $2,517 | $5,016 |
Minimum
Total Underlying Mutual Fund Operating Expenses (0.65%) | $312 | $951 | $1,615 | $3,382 | $312 | $951 | $1,615 | $3,382 | $312 | $951 | $1,615 | $3,382 |
• | non-qualified retirement programs; and |
• | Individual
Retirement Annuities (“IRA”), Simplified Employee Pension plans (“SEPs”) and Savings Incentive Match Plan for Employees (“SIMPLE”) IRAs adopted according to Section 408 of the Internal Revenue Code (see 8. FEDERAL TAX MATTERS). The Contract does not provide any additional tax deferral if you purchase it to fund an IRA or other investment vehicle that already provides tax deferral. |
• | Initial
premium payment must be at least $5,000 for non-qualified contracts. |
• | Initial premium payment must be at least $2,000 for all other contracts. |
• | Each subsequent premium payment must be at least $500. |
• | If you are a member of a retirement plan covering three or more persons and premium payments
are made through an automatic investment program, the initial and subsequent premium payments for the Contract must average at least $100 and not be less than $50. |
• | The total sum of all premium payments may not be greater than $2,000,000 without prior home office approval. |
• | The amount refunded will be a full refund of your accumulated value plus any Contract charges and premium taxes you paid unless state law (if applicable) requires otherwise. The underlying mutual fund fees and charges are not refunded to you as they are already factored into the Separate Account division value. |
• | The
amount refunded may be more or less than the premium payments made. |
• | a dollar amount or percentage of transfer must be specified; |
• | a transfer may occur on a scheduled or unscheduled basis. |
• | Deferred income transfers are not allowed during the first two contract years. |
• | Deferred
income transfer values are calculated using the price next determined after we receive your request in good order. |
• | Minimum initial deferred income transfer is $5,000 and $1,000 for each subsequent deferred income transfer. |
• | Maximum number of deferred income transfers is 15 per year and 125 total for the life of the Contract. |
• | A
deferred income transfer may be canceled by you within 10 days after receipt of the deferred income confirmation for that deferred income transfer. After these 10 days, you cannot access this amount except through receipt of the future stream of income payments under the deferred income payment option you elected. The deferred income transfers are maintained in the Company’s General Account and are guaranteed solely by the claims paying ability of the Company. |
• | the
gross dollar amount to be surrendered must be specified; |
• | surrendered amounts may be subject to surrender charges: |
• | for contracts without Liquidity Max, the maximum surrender charge is 6% of the amount(s) surrendered; or |
• | for contracts with Liquidity
Max there are no surrender charges for amounts surrendered; |
• | full surrender of the Contract accumulated value may be subject to an annual Contract fee; |
• | for contracts without Liquidity Max, if surrender charges are applicable, each partial surrender that is less than the Free Surrender Amount is not subject to a surrender charge (See 2. CHARGES AND DEDUCTIONS); |
• | surrenders
before age 59½ may involve an income tax penalty (See 8. FEDERAL TAX MATTERS); and |
• | deferred income transfers are not subject to surrender charges (See 4. DEFERRED INCOME RIDER). |
• | No
sales charge is deducted from premium payments at the time received. However, the Contract may impose a surrender charge on surrenders greater than the Free Surrender Amount. |
• | A contingent deferred surrender charge is imposed on certain total or partial surrenders. |
• | Currently, an annual mortality and expense risks charge equal to 1.00% of amounts in the Separate Account divisions is imposed daily. |
• | Currently,
an annual Separate Account administration charge equal to 0.15% of amounts in the Separate Account divisions is imposed daily. |
• | The following optional riders are available at an additional cost: |
• | Liquidity Max ("No Surrender Charge Rider") – The current annual rider charge is 0.25% of the average daily accumulated value in the Separate Account divisions, deducted daily. The maximum annual rider charge is 0.55% of the average daily accumulated value in the Separate Account
divisions, deducted daily. |
• | Return of Premium Death Benefit Rider – The current annual rider charge is 0.20% of the average accumulated value, deducted quarterly. The maximum annual rider charge is 0.35%. |
• | Annual Step-Up Death Benefit Rider – The current annual rider charge is 0.35% of the average accumulated value, deducted quarterly. The maximum annual rider charge is 0.50%. |
• | There
are underlying mutual fund expenses. More detailed information about the underlying mutual fund expenses may be found in the current prospectus for each underlying mutual fund. |
• | Contracts with an accumulated value of less than $30,000 are subject to an annual fee of the lesser of $30 or 2% of the accumulated value. Currently we do not charge the annual fee if your accumulated value is $30,000 or more. If you own more than one variable annuity contract with us, all the contracts you own or jointly own are aggregated on each contract’s anniversary to determine if the $30,000 minimum has been met and whether that contract will be charged. |
• | Certain
states and local governments impose a premium tax. We reserve the right to deduct the amount of the tax from premium payments or the accumulated value. |
• | You may choose from several fixed annuity benefit payment options which are described in 5. THE ANNUITIZATION PERIOD. |
• | Payments
are made to the owner (or beneficiary depending on the annuity benefit payment option selected). You should carefully consider the tax implications of each annuity benefit payment option. See 5. THE ANNUITIZATION PERIOD and 8. FEDERAL TAX MATTERS. |
• | The standard death benefit is the accumulated value. At the time of issue, you may instead select one of the following death benefit riders if the oldest owner is younger than age 71: |
1. | Return
of Premium Death Benefit Rider - the death benefit under this rider is the greater of: |
2. | Annual Step-Up Death Benefit Rider - the death benefit under this rider is the greatest of: |
(c) | the highest
accumulated value on any Contract anniversary prior to the lock-in date. |
• | If no premium payments are made during two consecutive calendar years and the accumulated value (or total premium payments less partial surrenders and applicable surrender charges) is less than $2,000. The Company will first notify you of its intent to exercise this right and give you 60 days to increase the accumulated value to at least $2,000. |
• | If you fully annuitize and your accumulated value on the annuitization date is less than $2,000 or
if the amount applied under an annuity benefit payment option is less than the minimum requirement. |
• | The initial premium payment must be at least $5,000 for non-qualified contracts. |
• | The initial premium payment must be at least $2,000 for all other contracts. |
• | Subsequent
premium payments must be at least $500 and can be made until the earlier of the annuitization date or the date the Contract changes to inactive contract status. |
• | If you are making premium payments through a payroll deduction plan or through a bank (or similar financial institution) account under an automated investment program, your initial and subsequent premium payments must be at least $100. |
• | Premium payments are to be made by personal or financial institution check (for example, a cashier’s
check). We reserve the right to refuse any premium payment that we feel presents a fraud or money laundering risk. Examples of the types of premium payments we will not accept are cash, money orders, starter checks, travelers checks, credit card checks, and foreign checks. |
• | If you are a member of a retirement plan covering three or more persons, the initial and subsequent premium payments for the Contract must average at least $100 and cannot be less than $50. |
• | If Liquidity Max is elected, premium
payments are not subject to surrender charges. |
• | If Liquidity Max is not elected, all premium payments are subject to a surrender charge period that begins in the contract year each premium payment is received. |
• | The total sum of all premium payments for a Contract may not be greater than $2,000,000 (maximum premium limit) without our prior approval. For further information, please call 1-800-852-4450. |
• | The
Company reserves the right to increase the minimum amount for each premium payment with advance notice. |
• | Premium payments are credited on the basis of the unit value next determined after we receive a premium payment. |
• | If no premium payments are made during two consecutive calendar years and the accumulated value is less than $2,000, we reserve the right to terminate the Contract unless you have the Deferred Income Rider and have made deferred income transfers. See 4.
DEFERRED INCOME RIDER and 7. ADDITIONAL INFORMATION ABOUT THE CONTRACT. |
• | On your application, you direct how your premium payments will be allocated to the investment options. |
• | Allocations
must be in percentages. |
• | Percentages must be in whole numbers and total 100%. |
• | Subsequent premium payments are allocated according to your then current allocation instructions. |
• | Changes to the allocation instructions are made
without charge. |
• | A change is effective on the next valuation period after we receive your new instructions in good order. |
• | You can change the current allocations and future allocation instructions by: |
• | Changes to premium payment allocations do not result in the transfer of any existing investment option accumulated values. You must provide specific instructions to transfer existing accumulated values. We currently do not charge a transaction fee for these
transfers but reserve the right to charge such a fee in the future. |
• | Premium payments are credited on the basis of the unit value next determined after we receive a premium payment. |
NOTE: | The exchange may not be suitable for you if you do not want to accept market risk. Fixed deferred annuities provide a fixed rate of accumulation. This Contract provides Separate Account divisions. The value of this Contract will increase or decrease depending on the investment performance of the Separate Account divisions you select. |
NOTE: | The
charges and provisions of a fixed annuity contract and this Contract differ. In some instances, your existing fixed annuity contract may have benefits that are not available under this Contract. |
NOTE: | This exchange credit may not be available in all states. In addition, we reserve the right to change or discontinue the exchange credit. You may obtain more specific information regarding the exchange credit from your registered representative or by calling us at 1-800-852-4450. |
• | the total premium payment(s) made; or |
• | your
accumulated value plus any premium tax charge deducted, less any applicable federal and state income tax withholding and depending upon the state in which the Contract was issued, any applicable fees and charges. |
a = | the share price (net asset value) of the underlying mutual fund at the end of the valuation period; |
b = | the per share amount of any dividend* (or other distribution) made by
the mutual fund during the valuation period; |
c = | the share price (net asset value) of the underlying mutual fund at the end of the previous valuation period; and |
d = | the daily charge for Total Separate Account Annual Expenses. The daily charge is calculated by dividing the annual amount of these expenses by 365 and multiplying by the number of days in the valuation period. |
* | When
an investment owned by an underlying mutual fund pays a dividend, the dividend increases the net asset value of a share of the underlying mutual fund as of the date the dividend is recorded. As the net asset value of a share of an underlying mutual fund increases, the unit value of the corresponding division also reflects an increase. Payment of a dividend under these circumstances does not increase the number of units you own in the division. |
• | make premium payment allocation changes; |
• | set
up Dollar Cost Averaging (DCA) scheduled transfers; |
• | make transfers; and |
• | make changes to Automatic Portfolio Rebalancing (APR). |
• | may be given by calling us at 1-800-852-4450 while we are open for business (generally, between 8 a.m. and 6 p.m. Eastern Time on any day that the NYSE is open). |
• | that are in good order and received by us before the close of a valuation period will receive the price next determined (the value as of the close of that valuation period). |
• | that
are in good order and received by us after the close of a valuation period will receive the price next determined (the value as of the close of the next valuation period). |
• | that are not in good order when received by us will be effective the next valuation date that we receive good order instructions. |
• | that are in good order and received by us before the close of a valuation period will receive the price next determined (the value as of the close of that valuation period). |
• | that are in good order and received by us after the
close of a valuation period will receive the price next determined (the value as of the close of the next valuation period). |
• | that are not in good order when received by us will be effective the next valuation day that we receive good order instructions. |
NOTE: | If you plan to make multiple premium payments, you need to be aware that each premium payment has its own surrender charge period (shown below). The surrender charge for any total or partial surrender is a percentage of all premium payments surrendered which were received by us during the contract years prior to the surrender. The applicable percentage which is applied to the premium payments surrendered is determined by the following tables. |
Number
of completed contract years since each premium payment was made | Surrender charge applied to all premium payments received in that contract year |
0 (year of premium payment) | 6% |
1 | 6% |
2 | 6% |
3 | 5% |
4 | 4% |
5 | 3% |
6 | 2% |
7
and later | 0 |
• | first
from premium payments no longer subject to a surrender charge; |
• | then from the free surrender privilege (first from the earnings, then from the oldest premium payments (i.e., on a first-in, first-out basis)) described in this section; and |
• | then from premium payments subject to a surrender charge on a first-in, first-out basis. |
• | earnings in the Contract (earnings equal accumulated value less unsurrendered premium payments as of the date of the surrender); or |
• | 10% of the premium payments, decreased by any partial surrenders, partial annuitizations,
and deferred income transfers since the last Contract anniversary. |
• | amounts
applied under an annuity benefit payment option; or |
• | deferred income transfers applied to a deferred income payment option; or |
• | payment of any death benefit, however, the surrender charge does apply to premium payments made by a surviving spouse after an owner’s death; or |
• | amounts
distributed to satisfy the minimum distribution requirement of Section 401(a)9 of the Internal Revenue Code, provided that the amount surrendered does not exceed the minimum distribution amount which would have been calculated based on the value of this Contract alone; or |
• | an amount transferred from a Contract used to fund an IRA to another annuity contract issued by the Company to fund an IRA of the participant’s spouse when the distribution is made pursuant to a divorce decree. |
• | the owner or annuitant has a critical need; and |
• | the
critical need did not exist before the contract issue date. |
• | health care facility — a licensed hospital or inpatient nursing facility providing daily medical treatment and keeping daily medical records for each patient (not primarily providing just residency or retirement care). This does not include a facility owned or operated by the owner, annuitant or a member of their immediate family. If the critical need is confinement to a health care facility, the confinement must continue for at least 60 consecutive days after the contract issue date and the surrender must occur within 90 days of the confinement’s end. Notice
must be provided within 90 days after confinement ends. |
• | terminal illness — sickness or injury that results in the owner’s or annuitant’s life expectancy being 12 months or less from the date notice to receive a distribution from the Contract is received by the Company. |
• | total and permanent disability — the owner or annuitant is unable to
engage in any occupation for pay or profit due to sickness or injury. |
• | furnishing periodic Contract statements, confirmations and other customer communications; |
• | preparation and filing of regulatory documents (such as this prospectus); |
• | preparing,
distributing and tabulating proxy voting materials related to the underlying mutual funds; and |
• | providing computer, actuarial and accounting services. |
• | You may request an unscheduled transfer or set up a scheduled transfer by |
• | You must specify the dollar amount or percentage to transfer from each division. |
• | The minimum transfer amount is the lesser of $100 or the value of your division. |
• | In
states where allowed, we reserve the right to reject transfer instructions from someone providing them for multiple contracts for which he or she is not the owner. |
• | Transfer values are calculated using the price next determined after we receive your request in good order. |
• | We
reserve the right to impose a fee of the lesser of $25 or 2% of the amount transferred on each unscheduled transfer after the first unscheduled transfer in a contract year. If we elect to begin charging for the transaction fee, we will provide you with written notice at least 30 days in advance. |
• | requiring
a minimum time period between each transfer; |
• | imposing the transaction fee; |
• | limiting the dollar amount that an owner may transfer at any one time; or |
• | not accepting transfer requests from someone providing requests for multiple
contracts for which he or she is not the owner. |
• | You may elect to have transfers made on a scheduled basis. |
• | There is no charge for scheduled transfers and no charge for participating in the scheduled transfer program. |
• | You
must specify the dollar amount of the transfer. |
• | You select the transfer date (other than the 29th, 30th or 31st) and the transfer period (monthly, quarterly, semi-annually or annually). |
• | If the selected date is not a valuation date, the transfer is completed on the next valuation date. |
• | If
you want to stop a scheduled transfer, you must provide us notice prior to the date of the scheduled transfer. |
• | Transfers continue until your value in the division is zero or we receive notice to stop the transfers. |
• | The number of divisions available for simultaneous transfers will never be less than two. When we have more than two divisions available, we reserve the right to limit the number of divisions from which simultaneous transfers are made. |
Month | Amount Invested | Share Price | Shares Purchased |
January | $100 | $25.00 | 4 |
February | $100 | $20.00 | 5 |
March | $100 | $20.00 | 5 |
April | $100 | $10.00 | 10 |
May | $100 | $25.00 | 4 |
June | $100 | $20.00 | 5 |
Total | $600 | $120.00 | 33 |
• | APR allows you to maintain a specific percentage of your Separate Account division value in specified divisions over time. |
• | You
may elect APR at any time after the examination offer period has expired. |
• | APR is not available if you have arranged scheduled transfers from the same division. |
• | There is no charge for APR transfers and no charge for participating in the APR program. |
• | APR
will be done on the frequency you specify: |
• | You may rebalance by |
• | Divisions are rebalanced at the end of the next valuation period following your request. |
Example: | You elect APR to maintain your Separate Account division value with 50% in the LargeCap
Growth division and 50% in the Government & High Quality Bond division. At the end of the specified period, 60% of the accumulated value is in the LargeCap Growth division, with the remaining 40% in the Government & High Quality Bond division. By rebalancing, units from the LargeCap Growth division are redeemed and applied to the Government & High Quality Bond division so that 50% of the Separate Account division value is once again in each division. |
• | Deferred
income transfers are not allowed during the first two contract years. |
• | Deferred income transfer values are calculated using the price next determined after we receive your request in good order. |
• | Minimum initial deferred income transfer is $5,000 and $1,000 for each subsequent deferred income transfer. |
• | Maximum
number of deferred income transfers is 15 per year and 125 total for the life of the Contract. |
• | A deferred income transfer may be canceled within 10 days after receipt of the deferred income confirmation for that deferred income transfer. After these 10 days, you cannot access this amount except through receipt of the future stream of income payments under the deferred income payment option you elected. The deferred income transfers are maintained in the Company’s General Account and are guaranteed solely by the claims paying ability of the Company. |
• | You may surrender the Contract at any time before the annuitization date. |
• | Surrender values are calculated using the price next determined after we receive your
request in good order. |
• | The cash surrender value is your accumulated value minus any applicable surrender charges and fee(s) (Contract fee and/or prorated share of the charge(s) for optional rider(s)). |
• | We reserve the right to require you to return the Contract. |
• | If
you have collaterally assigned this Contract, you must obtain written consent of all collateral assignees prior to surrender. A collateral assignment is an agreement under which you assign these annuity benefits to a lender as collateral for a loan. |
• | You may surrender the Contract accumulated value at any time before the annuitization date. Except for the Deferred Income Rider and its benefits, all other Contract provisions will then change to inactive contract status. Any deferred income payments will be paid according to the deferred income payment option and frequency you selected. If the Contract changes to inactive contract status during the deferred
income transfer 10 day cancellation period and you elect to cancel that deferred income transfer, the Contract will return to active status. See 4. DEFERRED INCOME RIDER for additional information. |
• | Surrender values are calculated using the price next determined after we receive your request in good order. |
• | The cash surrender value is your accumulated value minus any applicable surrender charges and fee(s) (Contract fee and/or prorated share of the charge(s) for optional
rider(s)). |
• | The written consent of all collateral assignees must be obtained prior to surrender. |
• | You may surrender the Contract at any time before the annuitization date. |
• | Surrender
values are calculated using the price next determined after we receive your request in good order. |
• | The cash surrender value is your accumulated value minus any applicable surrender charges and fee(s) (Contract fee and/or prorated share of the charge(s) for optional rider(s)). |
• | We reserve the right to require you to return the Contract. |
• | The
written consent of all collateral assignees must be obtained prior to surrender. |
• | You may surrender a part of your accumulated value at any time before the annuitization date. |
• | You must specify the dollar amount of the surrender (which must be at least $100). |
• | The
surrender is effective at the end of the valuation period during which we receive your written request for surrender. |
• | The surrender is deducted from your investment options according to your surrender allocation percentages. |
• | If surrender allocation percentages are not specified, we use your premium payment allocation percentages. |
• | We
surrender units from your investment options to equal the dollar amount of the surrender request plus any applicable surrender charge and transaction fee, if any. |
• | We will not allow an unscheduled partial surrender that will result in your accumulated value being less than $5,000; we reserve the right to increase this amount up to and including $10,000. |
• | The written consent of all collateral assignees must be obtained prior to surrender. |
• | You may elect partial surrenders from any of your investment options on a scheduled basis. |
• | Your accumulated value must be at least $5,000 when the scheduled partial surrenders begin. |
• | You may specify monthly, quarterly, semi-annually
or annually and choose a surrender date (other than the 29th, 30th or 31st). |
• | If the selected date is not a valuation date, the partial surrender is completed on the next valuation date. |
• | We surrender units from your investment options to equal the dollar amount of the partial surrender request plus any applicable partial surrender charge. |
• | The
partial surrenders continue until your value in the investment option is zero or we receive written notice to stop the partial surrenders. |
• | The written consent of all collateral assignees must be obtained prior to partial surrender. |
• | Deferred income transfers will be treated as partial surrenders under the contract. |
• | Deferred
income transfers are not subject to surrender charges and neither federal nor state income taxes are withheld; however, deferred income transfers are subject to applicable premium taxes. |
• | Deferred income transfers are not allowed during the first two contract years. |
• | You cannot make deferred income transfers if there are joint owners and/or joint annuitants. |
• | You
can make deferred income transfers only when the owner and annuitant are the same (except for a non-natural owner, in which case they can be different). |
• | If there is an ownership change after deferred income transfers have been made, no additional deferred income transfers can be made. |
• | Deferred income transfer amounts are calculated using the price next determined after we receive your request in good order. |
• | Minimum
initial deferred income transfer is $5,000 and $1,000 for each subsequent deferred income transfer. |
• | Maximum number of deferred income transfers is 15 per year and 125 total for the life of the Contract. |
• | The deferred income transfers may be canceled within 10 days after receipt of the deferred income confirmation. After these 10 days, you cannot access these amounts except through receipt of the future stream of income payments under the deferred income payment option you elected. The
deferred income transfers are maintained in the Company’s General Account and are guaranteed solely by the claims paying ability of the Company. |
1. | The deferred income transfers made; |
2. | The
income start date you selected; |
3. | The deferred income payment option and the frequency of deferred income payments you elected; |
4. | The annuitant's gender (unless not permitted under applicable unisex laws) and attained age for each deferred income transfer made; and |
5. | The current interest
rate environment for each deferred income transfer made. |
1. | The deferred income payment on the income start date, multiplied by |
2. | The CPI-U value for the month that is three calendar months preceding the current anniversary of the income start date, divided by |
3. | The
CPI-U value for the month that is three calendar months preceding the income start date. |
1. | The CPI-U is discontinued, delayed, or otherwise not available for this use; or |
2. | The
composition or base of, or method of calculating, the CPI-U changes so that we consider it not appropriate for calculating future changes. |
1. | The beginning and end dates of the current period; |
2. | The
deferred income transfers made, by date received; |
3. | The deferred income payment purchased by each deferred income transfer during the current period; |
4. | The income start date; |
5. | The deferred income payment option; and |
6. | The
amount of the deferred income death benefit, if any, at the end of the then current period. |
1. | The contract terminates; or |
2. | Upon
a death that results in termination of this rider, as described in the Death Provisions of the Deferred Income Rider. |
• | trading on the NYSE
is restricted as determined by the SEC or when the NYSE is closed for other than weekends and holidays; or |
• | an emergency exists, as determined by the SEC, as a result of which: |
• | disposal by a mutual fund of securities owned by it is not reasonably practicable; |
• | it is not reasonably practicable
for a mutual fund to fairly determine the value of its net assets; or |
• | the SEC permits suspension for the protection of security holders. |
• | amount
of accumulated value applied to the annuity benefit payment option; |
• | annuity benefit payment option selected; |
• | age and gender of the annuitant (unless fixed income option is selected); |
• | frequency
of the annuity benefit payments; and |
• | duration of the annuity benefit payments. |
• | for
Contracts with one annuitant — Life Income with payments guaranteed for a period of 10 years. |
• | for Contracts with joint annuitants — Joint and Full Survivor Life Income with payments guaranteed for a period of 10 years. |
• | Life Income – Level payments continue for the annuitant’s lifetime. If you defer the first payment
date, it is possible that you would receive no payments if the annuitant dies before the first payment date. NOTE: There is no death benefit value remaining and there are no further payments when the annuitant dies. |
• | Life Income with Period Certain – Level payments continue during the annuitant’s lifetime with a guaranteed payment period of 5 to 30 years. If the annuitant dies before all of the guaranteed payments have been made, the guaranteed payments continue to you or the person(s) you designate until the end of the guaranteed payment period. |
• | Joint
and Survivor – Payments continue as long as either the annuitant or the joint annuitant is alive. You may also choose an option that lowers the amount of income after the death of a joint annuitant. It is possible that you would only receive one payment under this option if both annuitants die before the second payment is due. If you defer the first payment date, it is possible that you would receive no payments if both the annuitants die before the first payment date. NOTE: There is no death benefit value remaining and there are no further payments after both annuitants die. |
• | Joint and Survivor with Period Certain – Payments continue
as long as either the annuitant or the joint annuitant is alive with a guaranteed payment period of 5 to 30 years. You may choose an option that lowers the amount of income after the death of a joint annuitant. If both annuitants die before all guaranteed payments have been made, the guaranteed payments continue to you or the person(s) you designate until the end of the guaranteed payment period. |
• | Fixed Period Income – Level payments continue for a fixed period. You may select a range from 5 to 30 years (state variations may apply). If the annuitant dies before the selected period expires, payments continue to you or the person(s) you designate until the end of the fixed period. Payments stop after all guaranteed payments are received. |
• | Life with Cash Refund –Level payments continue for the annuitant’s lifetime. If
the annuitant dies and the total of all payments received is less than the amount of the accumulated value applied, the balance is paid to you or the person(s) you designate. |
• | Life with Installment Refund –Level payments continue for the annuitant’s lifetime. If the annuitant dies and the total of all payments received is less than the amount of the accumulated value applied, payments continue to you or the person(s) you designate until they equal the amount of the accumulated value applied. |
If you die and... | And... | Then... |
You
are the sole owner | Your spouse is not named as the sole primary beneficiary | The beneficiary(ies) receives the death benefit under the Contract. If a beneficiary dies before you, upon your death we will make equal payments to the surviving beneficiaries unless you provided us with other written instructions. If no beneficiary(ies) survives you, the death benefit is paid to your estate in a single payment. Upon your death, only your beneficiary’s(ies’) right to the death benefit will continue; all other rights and benefits under the Contract will terminate. |
If... | And... | Then... |
You
are the sole owner | Your spouse is named as the sole primary beneficiary | Your spouse may either a. continue the Contract; or b. receive the death benefit under the Contract. If a beneficiary dies before you, upon your death we will make equal payments to the surviving contingent beneficiaries unless you provided us with other written instructions. If no beneficiary(ies) survives you, the death benefit is paid to your estate in a single payment. Unless your spouse elects to continue the Contract, only your spouse’s right to the death benefit will continue; all other rights
and benefits under the Contract will terminate. If you elected one of the optional death benefit riders, the rider will terminate at the original owner's death. |
You are a joint owner | The surviving joint owner is not your spouse | The surviving owner receives the death benefit under the Contract. Upon your death, only the surviving owner’s right to the death benefit will continue; all other rights and benefits under the Contract will terminate. |
You are a joint owner | The
surviving joint owner is your spouse | Your spouse may either a. continue the Contract; or b. receive the death benefit under the Contract. Unless your surviving spouse owner elects to continue the Contract, upon your death, only your spouse’s right to the death benefit will continue; all other rights and benefits under the Contract will terminate. If you elected one of the optional death benefit riders, the rider will terminate at the death of the first owner to die. |
If the annuitant dies | The
owner is not a natural person | The beneficiary(ies) receives the death benefit under the Contract. If a beneficiary dies before the annuitant, upon the annuitant’s death we will make equal payments to the surviving beneficiaries unless the owner provided us with other written instructions. Upon the annuitant’s death, only the beneficiary’s(ies’) right to the death benefit will continue; all other rights and benefits under the Contract will terminate. |
NOTE: | Proof of death includes: a certified copy of a death certificate; a certified copy of a court order; a written statement by a medical doctor; or other proof satisfactory to us. |
1. | the date we receive your request in good order to cancel it in our office (you may terminate this rider at any time); or |
2. | the death of the owner; or |
3. | the date the Contract owner is changed (unless changed to a non-natural owner);
or |
4. | the date the Contract accumulated value reduces to zero. |
a = | the accumulated value on the date we receive proof of death and all required documents; and |
b = | the total of premium payments minus an adjustment for each partial surrender (and any applicable surrender charges and fees) and minus an adjustment for each partial annuitization made prior to the date we receive proof of death and all required documents. |
NOTE:
| If an amount is transferred from the Deferred Income Rider back to the accumulated value (as described in 4. DEFERRED INCOME RIDER), this amount will impact the above death benefit similar to premium payments. |
x = | the
amount of the partial surrender (and any applicable surrender charges and fees) or the amount of the partial annuitization; and |
y = | the accumulated value immediately prior to the partial surrender or partial annuitization; and |
z = | the amount determined in b above immediately prior to the partial surrender or partial annuitization. |
Example: | Your
accumulated value is $10,000 and you take a partial surrender of $2,000 (20% of your accumulated value). For purposes of calculating the death benefit, we reduce the amount determined in b above by 20%. |
a = | the
accumulated value on the date we receive proof of death and all required documents; |
b = | the total of premium payments minus an adjustment for each partial surrender (and any applicable surrender charges and fees) and minus an adjustment for each partial annuitization made prior to the date we receive proof of death and all required documents; and |
c = | the highest accumulated value on any Contract anniversary prior to the Lock-In Date plus any premium payments since that Contract anniversary and minus an adjustment for each
partial surrender (and any applicable surrender charges and fees) and minus an adjustment for each partial annuitization made after that Contract anniversary. |
NOTE: | If an amount is transferred from the Deferred Income Rider back to the accumulated value (as described in 4.
DEFERRED INCOME RIDER), this amount will impact the above death benefit similar to premium payments. |
x = | the amount of the partial surrender (and any applicable surrender charges and fees) or the amount of the partial annuitization; and |
y = | the
accumulated value immediately prior to the partial surrender or partial annuitization; and |
z = | the amounts determined in b or c above immediately prior to the partial surrender or partial annuitization. |
Example: | Your accumulated value is $10,000 and you take a partial surrender of $2,000 (20% of your accumulated value). For purposes of calculating the death benefit, we reduce the amounts determined in b or c above by 20%. |
• | trading on the NYSE is restricted as determined by the SEC or when the NYSE is closed for other than weekends and holidays; or |
• | an
emergency exists, as determined by the SEC, as a result of which: |
• | disposal by a mutual fund of securities owned by it is not reasonably practicable; |
• | it is not reasonably practicable for a mutual fund to fairly determine the value of its net assets; or |
• | the
SEC permits suspension for the protection of security holders. |
• | we reinstate the Contract effective on the original surrender date; |
• | we
apply the amount received from the other company (“reinstatement amount”) and the amount of the surrender charge you paid when you surrendered the Contract; |
• | these amounts are priced on the valuation date the money from the other company is received by us; |
• | commissions are not paid on the amounts reinstated; and |
• | new
data page is sent to your address of record. |
• | Disrupt the management of the underlying mutual funds by: |
• | forcing
the fund to hold short-term (liquid) assets rather than investing for long term growth, which results in lost investment opportunities for the fund; and |
• | causing unplanned portfolio turnover; |
• | Hurt the portfolio performance of the underlying mutual funds; and |
• | Increase
expenses of the underlying mutual fund and Separate Account due to: |
• | increased broker-dealer commissions; and |
• | increased record keeping and related costs. |
• | Rejecting transfer instructions
from a Contract owner or other person authorized by the owner to direct transfers; |
• | Restricting submission of transfer requests by, for example, allowing transfer requests to be submitted by 1st class U.S. mail only and disallowing requests made via the internet, by facsimile, by overnight courier or by telephone; |
• | Limiting the number of unscheduled transfers during a contract year to no more than 12; |
• | Prohibiting
you from requesting a transfer among the divisions for a minimum of thirty days where there is evidence of at least one round-trip transaction (exchange or redemption of shares that were purchased within 30 days of the exchange/redemption) by you; and |
• | Taking such other action as directed by the underlying mutual fund. |
• | Premium payments made under non-qualified contracts are not excludable or
deductible from your gross income or any other person’s gross income. |
• | An increase in the accumulated value of a non-qualified contract owned by a natural person resulting from the investment performance of the Separate Account is generally not taxable until paid out as surrender proceeds, death benefit proceeds, or otherwise. |
• | Generally, owners who are not natural persons are immediately taxed on any increase in the accumulated value. |
• | Surrenders or partial surrenders are taxed as ordinary income to the extent of the accumulated income or gain under the Contract. |
• | The value of the Contract pledged or assigned is taxed as ordinary income to the same extent as a partial surrender. |
• | Annuity
benefit payments and deferred income payments: |
• | The “investment in the Contract” is generally the total of the premium payments made. |
• | The basic rule for taxing annuity benefit payments/deferred income payments is that part of each annuity benefit payment/deferred income payment is considered a nontaxable return of the investment in the Contract and part is considered taxable income. An “exclusion ratio” is applied to each annuity benefit payment/deferred income
payment to determine how much of the payment is excludable from gross income. The remainder of the annuity benefit payment/deferred income payment is includable in gross income for the year received. |
• | After the premium payment(s) in the Contract is paid out, the full amount of any annuity benefit payment/deferred income payment is taxable. |
• | If the person receiving payments dies on or after the annuitization date but prior to the time the entire interest in the Contract has been distributed, the remaining portion of the interest is distributed at least as rapidly as under the method of distribution being used as of the date of that person’s death. |
• | If
you die prior to the annuitization date, the entire interest in the Contract will be distributed: |
• | as annuity benefit payments which begin within one year of your death and which are made over the life of your designated beneficiary or over a period not extending beyond the life expectancy of that beneficiary. |
• | If you take a distribution from the Contract
before you are 59½, you may incur an income tax penalty. |
• | IRA – An Individual Retirement Annuity (IRA) is a retirement savings annuity. Contributions grow tax deferred. |
• | SEP-IRA – A SEP is a form of IRA. A SEP allows you, as an employer, to provide retirement benefits for your employees by contributing to their IRAs. |
• | SIMPLE-IRA
– SIMPLE stands for Savings Incentive Match Plan for Employers. A SIMPLE-IRA allows employees to save for retirement by deferring salary on a pre-tax basis and receiving predetermined company contributions. |
• | made on or after you reach age 59½; |
• | made to a beneficiary on or after your death; |
• | made
upon your disability; |
• | part of a series of substantially equal periodic payments for the life or life expectancy of you or you and the beneficiary; |
• | made to pay certain medical expenses; |
• | for health insurance premiums while
unemployed; |
• | for first home purchases (up to $10,000); |
• | for qualified higher education expenses; |
• | for qualified disaster tax relief distributions (up to $100,000); |
• | for
qualified reservist distributions; |
• | for amounts levied by the IRS directly against your IRA; |
• | for earnings associated with refunds of excess IRA contributions paid prior to your tax filing deadline; |
• | for Roth IRA conversions
(assuming the conversion remains in the Roth IRA for 5 years); or |
• | for transfer of IRA incident to divorce. |
• | if a participant in such a welfare benefit or retirement plan or an employee covered under an employer sponsored benefit purchases an individual product with the assistance of a registered representative of an affiliate of ours; |
• | if a participant in such a retirement
plan establishes a rollover individual retirement account with the assistance of a registered representative of an affiliate of ours; |
• | if the broker or dealer sold the funding vehicle the welfare benefit or retirement plan or employer sponsored benefit utilizes; or |
• | based on the broker's or dealer's relationship to the welfare benefit or retirement plan or employer sponsored benefit. |
Invests in: | American Century VP Inflation Protection Fund – Class II |
Investment Advisor: | American Century Investment Management, Inc. |
Investment Objective: | seeks long-term total return using a strategy that seeks to protect against U.S. inflation. |
Invests in: | American Century VP Value Fund – Class II |
Investment Advisor: | American Century Investment Management, Inc. |
Investment Objective: | seeks long-term capital growth. Income is a secondary objective. |
Invests in: | American Funds Insurance Series Blue Chip Income & Growth – Class 4 |
Investment Advisor: | Capital Research and Management Company |
Investment Objective: | seeks to produce income exceeding the average yield on U.S. stocks generally and to provide an opportunity for growth of principal
consistent with sound common stock investing. |
Invests in: | American Funds Insurance Series Global Small Capitalization – Class 4 |
Investment Advisor: | Capital Research and Management Company |
Investment
Objective: | seeks long-term growth of capital. |
Invests in: | American Funds Insurance Series Managed Risk Asset Allocation Fund – Class P2 |
Investment Advisor: | Capital Research and Management
Company through a sub-advisory agreement with Milliman Financial Risk Management LLC |
Investment Objective: | seeks high total return (including income and capital gains) consistent with preservation of capital over the long term while seeking to manage volatility and provide downside protection. |
Invests
in: | American Funds Insurance Series Managed Risk Growth Fund – Class P2 |
Investment Advisor: | Capital Research and Management Company through a sub-advisory agreement with Milliman Financial Risk Management LLC |
Investment Objective: | seeks growth of capital while seeking to manage volatility and provide downside protection. |
Invests
in: | American Funds Insurance Series Managed Risk International Fund – Class P2 |
Investment Advisor: | Capital Research and Management Company through a sub-advisory agreement with Milliman Financial Risk Management LLC |
Investment Objective: | seeks long-term grown of capital while seeking to manage volatility and provide downside protection. |
Invests
in: | American Funds Insurance Series New World Fund – Class 4 |
Investment Advisor: | Capital Research and Management Company |
Investment Objective: | seeks long-term capital appreciation. |
Invests
in: | Calvert VP EAFE International Index Fund – Class F |
Investment Advisor: | World Asset Management, Inc. through a sub-advisory agreement with Calvert Investment Management, Inc. |
Investment Objective: | seeks investment results that correspond to the total return performance of common stocks as represented by the MSCI EAFE (Standard) Index (“MSCI EAFE Index”). The MSCI EAFE Index emphasizes the stocks of companies in major markets in Europe, Australasia, and the Far East. This objective may be changed by the Portfolio’s Board of Directors without shareholder approval. |
Invests in: | Calvert VP Russell 2000 SmallCap Index Fund – Class F |
Investment Advisor: | Ameritas Investment Partners, Inc. through a sub-advisory agreement with Calvert Investment Management, Inc. |
Investment Objective: | seeks investment results that correspond to the investment performance of U.S. common stocks, as represented by the Russell 2000
Index. This objective may be changed by the Portfolio’s Board of Directors without shareholder approval. |
Invests in: | Calvert VP S&P MidCap 400 Index Fund – Class F |
Investment Advisor: | Ameritas Investment Partners, Inc. through a sub-advisory agreement with Calvert Investment
Management, Inc. |
Investment Objective: | seeks investment results that correspond to the total return performance of U.S. common stocks, as represented by the S&P MidCap 400 Index. This objective may be changed by the Portfolio’s Board of Directors without shareholder approval. |
Invests
in: | Deutsche Alternative Asset Allocation VIP – Class B |
Investment Advisor: | RREEF America LLC through a sub-advisory agreement with Deutsche Investment Management Americas Inc. |
Investment Objective: | seeks capital appreciation. |
Invests
in: | Deutsche Equity 500 Index VIP – Class B2 |
Investment Advisor: | Deutsche Investment Management Americas Inc. and Northern Trust Investment, Inc. |
Investment Objective: | seeks to replicate, as closely as possible, before the deduction of expenses, the performance of the Standard & Poor’s 500 Composite Stock Price Index (the “S&P 500® Index”), which emphasizes stocks of large US companies. |
Invests in: | Deutsche Small MidCap Value VIP – Class B |
Investment Advisor: | Dreman Value Management, L.L.C. through a sub-advisory agreement with Deutsche Investment Management Americas Inc. |
Investment Objective: | seeks long-term capital appreciation. |
Invests in: | Fidelity VIP Contrafund® Portfolio – Service Class 2 |
Investment Advisor: | Fidelity Management & Research Company |
Investment Objective: | seeks long-term capital appreciation. |
Invests in: | Fidelity VIP Mid Cap Portfolio – Service Class 2 |
Investment Advisor: | Fidelity Management & Research Company |
Investment Objective: | seeks long-term growth of capital. |
Invests in: | Fidelity VIP Overseas Portfolio – Service Class 2 |
Investment Advisor: | Fidelity Management & Research Company |
Investment Objective: | seeks long-term growth of capital. |
Invests in: | Franklin Global Real Estate VIP Fund – Class 2 |
Investment Advisor: | Franklin Templeton Institutional LLC |
Investment Objective: | seeks high total return. |
Invests in: | Franklin Rising Dividends VIP Fund – Class 4 |
Investment Advisor: | Franklin Advisory Services LLC |
Investment Objective: | seeks long-term capital appreciation. Preservation of capital, while not a goal, is also an important consideration. |
Invests in: | Goldman Sachs VIT – Goldman Sachs Mid Cap Value Fund – Service Shares |
Investment Advisor: | Goldman Sachs Asset Management, L.P. |
Investment Objective: | seeks long-term capital appreciation. |
Invests in: | Goldman Sachs VIT – Goldman Sachs Small Cap Equity Insights Fund – Service Shares |
Investment Advisor: | Goldman Sachs Asset Management, L.P. |
Investment Objective: | seeks long-term growth of capital. |
Invests in: | Guggenheim Investments VIF – Series F (Guggenheim Floating Rate Strategies Series) |
Investment Advisor: | Guggenheim Partners Investment Management LLC d/b/a Guggenheim Investments |
Investment Objective: | seeks to provide a high level of current income while maximizing total return. |
Invests in: | Guggenheim Investments VIF Global Managed Futures Strategy Fund |
Investment Advisor: | Security Investors, LLC, which operates under the name of Guggenheim Investments |
Investment Objective: | seeks to generate positive returns over time. |
Invests in: | Guggenheim Investments VIF – Series M (Guggenheim Macro Opportunities Series) |
Investment Advisor: | Guggenheim Partners Investment Management, LLC d/b/a Guggenheim Investments |
Investment Objective: | seeks to provide total return, comprised of current income and capital appreciation. |
Invests in: | Guggenheim Investments VIF Multi-Hedge Strategies Fund |
Investment Advisor: | Security Investors, LLC, which operates under the name of Guggenheim Investments |
Investment Objective: | seeks long-term capital appreciation with less risk than traditional equity funds. |
Invests in: | Guggenheim Investments VIF Long Short Equity Fund |
Investment Advisor: | Security Investors, LLC, which operates under the name of Guggenheim Investments |
Investment Objective: | seeks long-term capital appreciation. |
Invests in: | Invesco V.I. Balanced-Risk Allocation Fund – Series II Shares |
Investment Advisor: | Invesco Advisors, Inc. |
Investment Objective: | seeks total return with a low to moderate correlation to traditional financial market indices. |
Invests in: | Invesco V.I. Global Health Care Fund – Series II Shares |
Investment Advisor: | Invesco Advisors, Inc. |
Investment Objective: | seeks long-term capital growth. |
Invests in: | Invesco V.I. International Growth Fund – Series II Shares |
Investment Advisor: | Invesco Advisors, Inc. |
Investment Objective: | seeks long-term growth of capital. |
Invests in: | Janus Aspen Series Flexible Bond Portfolio – Service Shares |
Investment Advisor: | Janus Capital Management LLC |
Investment Objective: | seeks to obtain maximum total return, consistent with preservation of capital. |
Invests in: | MFS® VIT International Value Portfolio – Service Class |
Investment Advisor: | Massachusetts Financial Services Company |
Investment Objective: | seeks capital appreciation. |
Invests in: | MFS VIT Utilities Series – Service Class |
Investment Advisor: | Massachusetts Financial Services Company |
Investment Objective: | seeks total return. |
Invests in: | PIMCO VIT High Yield Portfolio – Administrative Class |
Investment Advisor: | Pacific Investment Management Company LLC |
Investment Objective: | seeks maximum total return, consistent with preservation of capital and prudent investment management. |
Invests in: | PIMCO VIT Total Return Portfolio – Administrative Class |
Investment Advisor: | Pacific Investment Management Company, LLC |
Investment Objective: | seeks maximum total return, consistent with preservation of capital and prudent investment management. |
Invests in: | Principal Variable Contracts Funds Diversified Balanced Managed Volatility Account – Class 2 |
Investment Advisor: | Principal Management Corporation |
Investment Objective: | seeks to provide as high a level of total return (consisting of reinvested income and capital appreciation) as
is consistent with reasonable risk, with an emphasis on managing volatility. |
Invests in: | Principal Variable Contracts Funds Diversified Growth Managed Volatility Account – Class 2 |
Investment Advisor: | Principal Management Corporation |
Investment
Objective: | seeks to provide long-term capital appreciation, with an emphasis on managing volatility. |
Invests in: | Principal Variable Contracts Funds Diversified International Account – Class 2 |
Investment Advisor: | Principal Global Investors, LLC through a sub-advisory
agreement with Principal Management Corporation |
Investment Objective: | seeks long-term growth of capital. |
Invests in: | Principal Variable Contracts Funds Equity Income Account – Class 2 |
Investment Advisor: | Edge
Asset Management, Inc. through a sub-advisory agreement with Principal Management Corporation |
Investment Objective: | seeks to seek to provide a relatively high level of current income and long-term growth of income and capital. |
Invests
in: | Principal Variable Contracts Funds Government & High Quality Bond Account – Class 2 |
Investment Advisor: | Principal Global Investors, LLC through a sub-advisory agreement with Principal Management Corporation |
Investment Objective: | seeks a high level of current income consistent with safety and liquidity. |
Invests
in: | Principal Variable Contracts Funds LargeCap Blend Account II – Class 2 |
Investment Advisor: | T. Rowe Price Associates, Inc. and ClearBridge Investments, LLC through sub-advisory agreements with Principal Management Corporation |
Investment Objective: | seeks long-term growth of capital. |
Invests
in: | Principal Variable Contracts Funds LargeCap Growth Account – Class 2 |
Investment Advisor: | Columbus Circle Investors through a sub-advisory agreement with Principal Management Corporation |
Investment Objective: | seeks long-term growth of capital. |
Invests
in: | Principal Variable Contracts Funds Money Market Account – Class 2 |
Investment Advisor: | Principal Global Investors, LLC through a sub-advisory agreement with Principal Management Corporation |
Investment Objective: | seeks as high a level of current income as is considered consistent with preservation of principal and maintenance of liquidity. |
Invests
in: | Principal Variable Contracts Funds Principal Capital Appreciation Account – Class 2 |
Investment Advisor: | Edge Asset Management, LLC through a sub-advisory agreement with Principal Management Corporation |
Investment Objective: | seeks to provide long-term growth capital. |
Invests in: | Principal Variable Contracts Funds Real Estate Securities Account – Class 2 |
Investment Advisor: | Principal Real Estate Investors, LLC through a sub-advisory agreement with Principal Management Corporation |
Investment Objective: | seeks to generate a total return. |
Invests in: | Principal Variable Contracts Funds Short-Term Income Account – Class 2 |
Investment Advisor: | Edge Asset Management, Inc. through a sub-advisory agreement with Principal Management Corporation |
Investment Objective: | seeks to provide as high a level of current income as is consistent with prudent investment management and stability of principal. |
Invests in: | Principal Variable Contracts Funds SmallCap Growth Account II – Class 2 |
Investment Advisor: | Emerald Advisors, Inc. through a sub-advisory agreement with Principal Management Corporation |
Investment Objective: | seeks long-term growth of capital. |
Invests in: | Principal Variable Contracts Funds SmallCap Value Account I – Class 2 |
Investment Advisor: | J.P. Morgan Investment Management, Inc., through a sub-advisory agreement with Principal Management Corporation |
Investment Objective: | seeks long-term growth of capital. |
Invests in: | Principal Variable Contracts Funds Strategic Asset Management Balanced Portfolio – Class 2 |
Investment Advisor: | Edge Asset Management, Inc. through a sub-advisory agreement with Principal Management Corporation |
Investment Objective: | seeks to provide a high level of total return (consisting of reinvested
income and capital appreciation), as is consistent with reasonable risk. In general, relative to the other Portfolios, the Balanced Portfolio should offer investors the potential for a medium level of income and medium level of capital growth, while exposing them to a medium level of principal risk. |
Invests in: | Principal Variable Contracts Funds Strategic Asset Management
Portfolios – Conservative Balanced Portfolio – Class 2 |
Investment Advisor: | Edge Asset Management, Inc. through a sub-advisory agreement with Principal Management Corporation |
Investment Objective: | seeks to provide a high level of total return (consisting of reinvestment of income and capital appreciation), consistent with a moderate degree of principal risk. In general, relative to the other Portfolios, the Conservative Balanced Portfolio should offer investors the potential for a medium to high level of income and a medium to low level of capital growth, while exposing them to a medium to low level of principal risk. |
Invests in: | Principal Variable Contracts Funds Strategic Asset Management Portfolios – Conservative Growth Portfolio – Class 2 |
Investment Advisor: | Edge Asset Management, Inc. through a sub-advisory agreement with Principal Management Corporation |
Investment Objective: | seeks to provide long-term capital
appreciation. In general, relative to the other Portfolios, the Conservative Growth Portfolio should offer investors the potential for a low to medium level of income and a medium to high level of capital growth, while exposing them to a medium to high level of principal risk. |
Invests
in: | Principal Variable Contracts Funds Strategic Asset Management Portfolios – Flexible Income Portfolio – Class 2 |
Investment Advisor: | Edge Asset Management, Inc. through a sub-advisory agreement with Principal Management Corporation |
Investment Objective: | seeks to provide a high level of total return (consisting of reinvestment of income with some capital appreciation). In general, relative to the other Portfolios, the Flexible Income Portfolio should offer investors the potential for a high level of income and a low level of capital growth, while exposing them to a low level of principal risk. |
Invests in: | Principal Variable Contracts Funds Strategic Asset Management Portfolios –Strategic Growth Portfolio – Class 2 |
Investment Advisor: | Edge Asset Management, Inc. through a sub-advisory agreement with Principal Management Corporation |
Investment Objective: | seeks to provide long-term capital appreciation.
In general, relative to the other Portfolios, the Strategic Growth Portfolio should offer investors the potential for a high level of capital growth, and a corresponding level of principal risk.. |
Invests in: | Rydex VI Commodities Strategy Fund |
Investment Advisor: | Security Investors,
LLC, which operates under the name of Guggenheim Investments |
Investment Objective: | seeks to provide investment results that correlate, before fees and expenses, to the performance of a benchmark for commodities. |
Invests in: | Rydex VI NASDAQ 100 Fund |
Investment
Advisor: | Security Investors, LLC, which operates under the name of Guggenheim Investments |
Investment Objective: | seeks to provide investment results that correspond, before fees and expenses, to a benchmark for over-the-counter securities on a daily basis. |
Invests
in: | Franklin Templeton VIP Trust – Templeton Global Bond VIP Fund – Class 4 |
Investment Advisor: | Franklin Advisors, Inc. |
Investment Objective: | seeks high current income, consistent with preservation of capital. Capital appreciation is a secondary consideration. |
Invests
in: | Van Eck VIP Global Hard Assets Fund – Class S Shares |
Investment Advisor: | Van Eck Associates Corporation |
Investment Objective: | seeks long-term capital appreciation by investing primarily in "hard asset" securities. Income is a secondary consideration. |
General
Information and History | 3 |
Independent Registered Public Accounting Firm | 3 |
Principal Underwriter | 3 |
Calculation of Performance Data | 3 |
Taxation Under Certain Retirement Plans | 4 |
Deferred Income Disclosure | 7 |
Principal
Life Insurance Company Separate Account B | |
Report of Independent Registered Public Accounting Firm | 9 |
Financial Statements | 10 |
Principal Life Insurance Company | |
Report of Independent Registered Public Accounting Firm | 137 |
Consolidated Financial Statements | 138 |
Accumulation Unit Value | ||||
Division | Beginning of Period | End
of Period | Percentage Change from Prior Period | Number of Accumulation Units Outstanding End of Period (in thousands) |
American Century VP Inflation Protection | ||||
2013 | ||||
American
Century VP Mid Cap Value | ||||
2013 | ||||
American Funds Blue Chip Income & Growth | ||||
2013 | ||||
American
Funds Global Small Capitalization | ||||
2013 | ||||
American Funds Managed Risk Asset Allocation | ||||
2013 | ||||
American
Funds Managed Risk Growth | ||||
2013 | ||||
American Funds Managed Risk International | ||||
2013 | ||||
American
Funds New World | ||||
2013 | ||||
Calvert EAFE International Index | ||||
2013 | ||||
Calvert
Russell 2000 Small Cap | ||||
2013 | ||||
Calvert S&P MidCap 400 | ||||
2013 | ||||
Deutsche
Alternative Asset Allocation VIP | ||||
2013 | ||||
Deutsche Equity 500 Index VIP | ||||
2013 | ||||
Deutsche
Small Mid Cap Value VIP | ||||
2013 | ||||
Fidelity VIP Contrafund® | ||||
2013 | ||||
Fidelity
VIP MidCap | ||||
2013 | ||||
Fidelity VIP Overseas | ||||
2013 | ||||
Franklin
Global Real Estate VIP | ||||
2013 | ||||
Franklin Rising Dividends VIP | ||||
2013 | ||||
Franklin
Templeton Global Bond VIP | ||||
2013 | ||||
Goldman Sachs VIT MidCap Value | ||||
2013 |
Accumulation Unit Value | ||||
Division | Beginning of Period | End of Period | Percentage
Change from Prior Period | Number of Accumulation Units Outstanding End of Period (in thousands) |
Goldman Sachs VIT SmallCap Equity Insights | ||||
2013 | ||||
Guggenheim
Series F (Floating Rate Strategies) | ||||
2013 | ||||
Guggenheim Global Managed Futures Strategy | ||||
2013 | ||||
Guggenheim
Series M (Macro Opportunities) | ||||
2013 | ||||
Guggenheim Multi-Hedge Strategies | ||||
2013 | ||||
Guggenheim
Long Short Equity | ||||
2013 | ||||
Invesco V.I. Balanced-Risk Allocation | ||||
2013 | ||||
Invesco
V.I. Global Health Care | ||||
2013 | ||||
Invesco V.I. International Growth | ||||
2013 | ||||
Janus
Aspen Flexible Bond | ||||
2013 | ||||
MFS International Value | ||||
2013 | ||||
MFS
Utilities | ||||
2013 | ||||
PIMCO VIT High Yield Portfolio | ||||
2013 | ||||
PIMCO
VIT Total Return | ||||
2013 | ||||
Rydex Commodities Strategy | ||||
2013 | ||||
Rydex
NASDAQ 100 | ||||
2013 | ||||
Van Eck VIP Global Hard Assets | ||||
2013 | ||||
Diversified
Balanced Managed Volatility | ||||
2013 | ||||
Diversified Growth Managed Volatility | ||||
2013 | ||||
Diversified
International | ||||
2013 | ||||
Equity Income | ||||
2013 | ||||
Government
& High Quality Bond | ||||
2013 | ||||
LargeCap Blend II | ||||
2013 | ||||
LargeCap
Growth | ||||
2013 |
Accumulation
Unit Value | ||||
Division | Beginning of Period | End of Period | Percentage Change from Prior Period | Number of Accumulation Units Outstanding End of Period (in thousands) |
Money Market | ||||
2013 | ||||
Principal
Capital Appreciation | ||||
2013 | ||||
Real Estate Securities | ||||
2013 | ||||
SAM
Balanced | ||||
2013 | ||||
SAM Conservative Balanced | ||||
2013 | ||||
SAM
Conservative Growth | ||||
2013 | ||||
SAM Flexible Income | ||||
2013 | ||||
SAM
Strategic Growth | ||||
2013 | ||||
Short-Term Income | ||||
2013 | ||||
SmallCap
Growth II | ||||
2013 | ||||
SmallCap Value I | ||||
2013 |
Page | |
GENERAL
INFORMATION AND HISTORY | 3 |
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM | 3 |
PRINCIPAL UNDERWRITER | 3 |
CALCULATION OF PERFORMANCE DATA | 3 |
TAXATION UNDER CERTAIN RETIREMENT PLANS | 4 |
DEFERRED INCOME DISCLOSURE | 7 |
Principal
Life Insurance Company Separate Account B | |
Report of Independent Registered Public Accounting Firm | 9 |
Financial Statements | 10 |
Principal Life Insurance Company | |
Report of Independent Registered Public Accounting Firm | 137 |
Financial Statements | 138 |
Yield
For the Period Ended December 31, 2013 | ||
For Contracts: | 7-Day Annualized Yield | 7-Day Effective Yield |
without a surrender charge or a Purchase Payment Credit Rider | ||
with a surrender charge but without a Purchase Payment Credit Rider | ||
without a surrender charge
but with a Purchase Payment Credit Rider |
IRA- Maximum Annual Contribution | ||
Year | Individual IRA | Individual IRA + Spousal IRA |
2013 | $5,500 | $11,000 |
2014 | $5,500 | $11,000 |
Deductibility
of Traditional IRA Contributions for Active Participants | |||||
Married Individuals (Filing Jointly) | Single Individual | ||||
Year | Limited Deduction | No Deduction | Year | Limited Deduction | No Deduction |
2013 | $95,000 | $115,000 | 2013 | $59,000 | $69,000 |
2014 | $96,000 | $116,000 | 2014 | $60,000 | $70,000 |
Salary
Reduction Simplified Employee Pension Plan (SAR/SEP) | ||
Year | Elective Deferral | Catch-up Contribution |
2013 | $17,500 | $5,500 |
2014 | $17,500 | $5,500 |
Savings
Incentive Match Plan for Employees (SIMPLE IRA) | |||
Year | Elective Deferral | Catch-up Contribution | 401(k) Elective Deferral |
2013 | $12,000 | $2,500 | $17,500 |
2014 | $12,000 | $2,500 | $17,500 |
Roth
IRA - Maximum Annual Contribution | ||
Year | Individual Roth IRA | Catch-up Contribution |
2013 | $5,500 | $1,000 |
2014 | $5,500 | $1,000 |
Modified Adjusted Gross Income Limits - 2014 | ||
Single | Married Filing Joint | ROTH
IRA Contribution |
$114,000 or less | $181,000 or less | Full Contribution |
$114,000 – $129,000 | $181,000 – $191,000 | Partial Contribution* |
$129,000 & over | $191,000 & over | No Contribution |
* | Those
entitled to only a partial contribution should check with a tax advisor to determine the allowable contribution. |
(a) | Amounts used to purchase deferred income payments are not liquid once the deferred income transfer is made. |
(b) | Deferred income payments made pursuant to the Deferred Income Rider are subject to the claims paying ability of the Company. |
(c) | The
deferred income payment amount that the owner receives from the Company may be higher or lower than the amount the owner might receive if he or she purchased a similar product offered by the Company or by another company. When making a deferred income transfer, the owner should consider, in consultation with his or her financial adviser, payment amounts for similar products, as well as the owner’s future income needs, tax situation, contract terms, and the claims paying ability of the insurance company. |
(d) | The deferred income payment amount is based on various factors disclosed in your prospectus. The confirmation the Company will send the owner with respect to the deferred income transfer will provide the owner with the deferred income payment
amount for the amount transferred. |
(a) | The amount of the deferred income payment purchased. |
(b) | The lack of liquidity of amounts transferred to the Deferred Income Rider. |
(c) | The owner’s ability to consider other products offered by the Company or by another company and the right to cancel the deferred income transfer within the 10 day cancellation period. |
(d) | The compensation, if any, paid to the broker/dealer or any other person as a result of the deferred income transfer. |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Assets and Liabilities | ||||||||
AllianceBernstein | AllianceBernstein | |||||||
Small
Cap | Small/Mid Cap | |||||||
Growth | Value | |||||||
Class A | Class A | |||||||
Division | Division | |||||||
Assets | ||||||||
Investments
in shares of mutual funds, at market | $ | 6,182,753 | $ | 1,075,332 | ||||
Liabilities | — | — | ||||||
Net
assets | $ | 6,182,753 | $ | 1,075,332 | ||||
Net
assets | ||||||||
Applicable to accumulation units: | ||||||||
Bankers Flexible Annuity | $ | — | $ | — | ||||
Pension
Builder Plus | — | — | ||||||
Pension Builder Plus – Rollover IRA | — | — | ||||||
Personal
Variable | — | — | ||||||
Premier Variable | — | — | ||||||
Principal
Freedom Variable Annuity | — | — | ||||||
Principal Freedom Variable Annuity 2 | — | — | ||||||
The
Principal Variable Annuity | — | 198,058 | ||||||
The Principal Variable Annuity with Purchase Payment Credit Rider | — | — | ||||||
Principal
Investment Plus Variable Annuity | 4,641,204 | 648,020 | ||||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 1,541,549 | 229,254 | ||||||
Principal
Lifetime Income Solutions | — | — | ||||||
Applicable to contracts in annuitization period: | ||||||||
Bankers
Flexible Annuity | — | — | ||||||
Pension Builder Plus – Rollover IRA | — | — | ||||||
Total
net assets | $ | 6,182,753 | $ | 1,075,332 | ||||
Investments
in shares of mutual funds, at cost | $ | 4,991,452 | $ | 1,009,877 | ||||
Shares of mutual fund owned | 263,432 | 46,978 | ||||||
Accumulation
units outstanding: | ||||||||
Bankers Flexible Annuity | — | — | ||||||
Pension
Builder Plus | — | — | ||||||
Pension Builder Plus - Rollover IRA | — | — | ||||||
Personal
Variable | — | — | ||||||
Premier Variable | — | — | ||||||
Principal
Freedom Variable Annuity | — | — | ||||||
Principal Freedom Variable Annuity 2 | — | — | ||||||
The
Principal Variable Annuity | — | 17,417 | ||||||
The Principal Variable Annuity with Purchase Payment Credit Rider | — | — | ||||||
Principal
Investment Plus Variable Annuity | 174,332 | 57,009 | ||||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 61,252 | 20,244 | ||||||
Principal
Lifetime Income Solutions | — | — | ||||||
Accumulation unit value: | ||||||||
Bankers
Flexible Annuity | $ | — | $ | — | ||||
Pension Builder Plus | — | — | ||||||
Pension
Builder Plus - Rollover IRA | — | — | ||||||
Personal Variable | — | — | ||||||
Premier
Variable | — | — | ||||||
Principal Freedom Variable Annuity | — | — | ||||||
Principal
Freedom Variable Annuity 2 | — | — | ||||||
The Principal Variable Annuity | — | 11.37 | ||||||
The
Principal Variable Annuity with Purchase Payment Credit Rider | — | 11.33 | ||||||
Principal Investment Plus Variable Annuity | 26.62 | 11.37 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 25.17 | 11.32 | ||||||
Principal Lifetime Income Solutions | — | — | ||||||
Annuitized
units outstanding: | ||||||||
Bankers Flexible Annuity | — | — | ||||||
Pension
Builder Plus – Rollover IRA | — | — | ||||||
Annuitized unit value: | ||||||||
Bankers
Flexible Annuity | $ | — | $ | — | ||||
Pension Builder Plus – Rollover IRA | — | — | ||||||
See
accompanying notes. |
American | American | American | ||||||||||||||||||||||||
Century
VP | Century VP | Century VP | American | American | American | American | ||||||||||||||||||||
Income
& | Inflation | MidCap | Century VP | Century VP | Century VP | Century VP | ||||||||||||||||||||
Growth | Protection | Value | Ultra | Ultra | Value | Vista | ||||||||||||||||||||
Class
I | Class II | Class II | Class I | Class II | Class II | Class I | ||||||||||||||||||||
Division | Division | Division | Division | Division | Division | Division | ||||||||||||||||||||
$ | 14,985,421 | $ | 78,840,003 | $ | 3,814,515 | $ | 4,099,519 | $ | 54,398,488 | $ | 19,713,172 | $ | 2,757,660 | |||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | 14,985,421 | $ | 78,840,003 | $ | 3,814,515 | $ | 4,099,519 | $ | 54,398,488 | $ | 19,713,172 | $ | 2,757,660 | |||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
3,215,711 | — | — | — | — | — | — | ||||||||||||||||||||
63,545 | — | — | — | — | — | — | ||||||||||||||||||||
11,610,021 | — | 1,214,822 | 4,015,178 | — | 19,208,287 | — | ||||||||||||||||||||
96,144 | — | 70,631 | 84,341 | — | 504,885 | — | ||||||||||||||||||||
— | 65,364,484 | 2,010,144 | — | 44,189,948 | — | 2,005,396 | ||||||||||||||||||||
— | 13,475,519 | 518,918 | — | 10,208,540 | — | 752,264 | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | 14,985,421 | $ | 78,840,003 | $ | 3,814,515 | $ | 4,099,519 | $ | 54,398,488 | $ | 19,713,172 | $ | 2,757,660 | |||||||||||||
$ | 10,175,633 | $ | 82,721,618 | $ | 3,153,361 | $ | 2,453,146 | $ | 31,930,148 | $ | 15,470,587 | $ | 2,021,490 | |||||||||||||
1,634,179 | 7,544,498 | 206,413 | 278,500 | 3,746,452 | 2,330,162 | 121,751 | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
194,694 | — | — | — | — | — | — | ||||||||||||||||||||
4,262 | — | — | — | — | — | — | ||||||||||||||||||||
736,164 | — | 72,783 | 277,755 | — | 1,006,999 | — | ||||||||||||||||||||
6,576 | — | 4,325 | 6,294 | — | 28,382 | — | ||||||||||||||||||||
— | 5,078,747 | 120,483 | — | 2,594,026 | — | 107,912 | ||||||||||||||||||||
— | 1,107,569 | 31,785 | — | 633,911 | — | 42,821 | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
16.52 | — | — | — | — | — | — | ||||||||||||||||||||
14.91 | — | — | — | — | — | — | ||||||||||||||||||||
15.77 | — | 16.69 | 14.45 | — | 19.07 | — | ||||||||||||||||||||
14.62 | — | 16.33 | 13.40 | — | 17.79 | — | ||||||||||||||||||||
— | 12.87 | 16.68 | — | 17.04 | — | 18.58 | ||||||||||||||||||||
— | 12.17 | 16.33 | — | 16.10 | — | 17.57 | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
— | — | — | — | — | — | — |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Assets and Liabilities (continued) | ||||||||
Bond & | ||||||||
Mortgage | ||||||||
Balanced | Securities | |||||||
Class
1 | Class 1 | |||||||
Division | Division | |||||||
Assets | ||||||||
Investments
in shares of mutual funds, at market | $ | 36,506,670 | $ | 201,686,143 | ||||
Liabilities | — | — | ||||||
Net
assets | $ | 36,506,670 | $ | 201,686,143 | ||||
Net
assets | ||||||||
Applicable to accumulation units: | ||||||||
Bankers Flexible Annuity | $ | — | $ | — | ||||
Pension
Builder Plus | — | — | ||||||
Pension Builder Plus – Rollover IRA | — | — | ||||||
Personal
Variable | 572,230 | 255,355 | ||||||
Premier Variable | 2,817,316 | 2,711,405 | ||||||
Principal
Freedom Variable Annuity | — | 6,118,742 | ||||||
Principal Freedom Variable Annuity 2 | — | 389,257 | ||||||
The
Principal Variable Annuity | 32,873,809 | 80,110,978 | ||||||
The Principal Variable Annuity with Purchase Payment Credit Rider | 243,315 | 1,624,135 | ||||||
Principal
Investment Plus Variable Annuity | — | 90,704,657 | ||||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | — | 19,771,614 | ||||||
Principal
Lifetime Income Solutions | — | — | ||||||
Applicable to contracts in annuitization period: | ||||||||
Bankers
Flexible Annuity | — | — | ||||||
Pension Builder Plus – Rollover IRA | — | — | ||||||
Total
net assets | $ | 36,506,670 | $ | 201,686,143 | ||||
Investments
in shares of mutual funds, at cost | $ | 28,167,624 | $ | 196,655,065 | ||||
Shares of mutual fund owned | 2,027,023 | 17,943,607 | ||||||
Accumulation
units outstanding: | ||||||||
Bankers Flexible Annuity | — | — | ||||||
Pension
Builder Plus | — | — | ||||||
Pension Builder Plus - Rollover IRA | — | — | ||||||
Personal
Variable | 195,992 | 98,559 | ||||||
Premier Variable | 925,037 | 1,003,076 | ||||||
Principal
Freedom Variable Annuity | — | 356,897 | ||||||
Principal Freedom Variable Annuity 2 | — | 30,397 | ||||||
The
Principal Variable Annuity | 1,238,396 | 3,497,931 | ||||||
The Principal Variable Annuity with Purchase Payment Credit Rider | 9,916 | 76,718 | ||||||
Principal
Investment Plus Variable Annuity | — | 3,962,240 | ||||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | — | 934,344 | ||||||
Principal
Lifetime Income Solutions | — | — | ||||||
Accumulation unit value: | ||||||||
Bankers
Flexible Annuity | $ | — | $ | — | ||||
Pension Builder Plus | — | — | ||||||
Pension
Builder Plus - Rollover IRA | — | — | ||||||
Personal Variable | 2.92 | 2.59 | ||||||
Premier
Variable | 3.05 | 2.70 | ||||||
Principal Freedom Variable Annuity | — | 17.14 | ||||||
Principal
Freedom Variable Annuity 2 | — | 12.81 | ||||||
The Principal Variable Annuity | 26.55 | 22.90 | ||||||
The
Principal Variable Annuity with Purchase Payment Credit Rider | 24.54 | 21.17 | ||||||
Principal Investment Plus Variable Annuity | — | 22.89 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | — | 21.16 | ||||||
Principal Lifetime Income Solutions | — | — | ||||||
Annuitized
units outstanding: | ||||||||
Bankers Flexible Annuity | — | — | ||||||
Pension
Builder Plus – Rollover IRA | — | — | ||||||
Annuitized unit value: | ||||||||
Bankers
Flexible Annuity | $ | — | $ | — | ||||
Pension Builder Plus – Rollover IRA | — | — | ||||||
See
accompanying notes. |
Diversified | Diversified | |||||||||||||||||||||||||
Delaware | Balanced | Growth | ||||||||||||||||||||||||
Small
Cap | Diversified | Managed | Diversified | Managed | Diversified | Diversified | ||||||||||||||||||||
Value | Balanced | Volatility | Growth | Volatility | Income | International | ||||||||||||||||||||
Service
Class | Class 2 | Class 2 | Class 2 | Class 2 | Class 2 | Class 1 | ||||||||||||||||||||
Division | Division | Division | Division | Division | Division | Division | ||||||||||||||||||||
$ | 262,065 | $ | 856,503,597 | $ | 876,873 | $ | 2,202,298,019 | $ | 3,978,950 | $ | 112,080,682 | $ | 183,014,987 | |||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | 262,065 | $ | 856,503,597 | $ | 876,873 | $ | 2,202,298,019 | $ | 3,978,950 | $ | 112,080,682 | $ | 183,014,987 | |||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | 356,616 | ||||||||||||||||||||
— | — | — | — | — | — | 3,557,592 | ||||||||||||||||||||
— | — | — | — | — | — | 2,740,588 | ||||||||||||||||||||
— | — | — | — | — | — | 536,573 | ||||||||||||||||||||
14,336 | — | — | — | — | — | 115,639,919 | ||||||||||||||||||||
4,775 | — | — | — | — | — | 1,783,853 | ||||||||||||||||||||
164,385 | 758,560,955 | 649,301 | 2,010,178,826 | 3,127,713 | 99,369,150 | 46,683,619 | ||||||||||||||||||||
78,569 | 65,631,340 | — | 155,029,634 | 259,064 | 7,405,577 | 11,716,227 | ||||||||||||||||||||
— | 32,311,302 | 227,572 | 37,089,559 | 592,173 | 5,305,955 | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | 262,065 | $ | 856,503,597 | $ | 876,873 | $ | 2,202,298,019 | $ | 3,978,950 | $ | 112,080,682 | $ | 183,014,987 | |||||||||||||
$ | 243,598 | $ | 735,078,244 | $ | 869,666 | $ | 1,835,543,838 | $ | 3,932,711 | $ | 106,313,280 | $ | 141,184,368 | |||||||||||||
6,303 | 62,701,581 | 86,137 | 150,842,330 | 387,434 | 9,848,918 | 12,307,665 | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | 112,069 | ||||||||||||||||||||
— | — | — | — | — | — | 1,071,805 | ||||||||||||||||||||
— | — | — | — | — | — | 155,905 | ||||||||||||||||||||
— | — | — | — | — | — | 41,544 | ||||||||||||||||||||
1,258 | — | — | — | — | — | 4,066,996 | ||||||||||||||||||||
421 | — | — | — | — | — | 67,872 | ||||||||||||||||||||
14,429 | 56,391,896 | 64,472 | 140,583,241 | 309,065 | 8,875,417 | 1,642,541 | ||||||||||||||||||||
6,922 | 4,997,634 | — | 11,105,529 | 25,619 | 667,914 | 445,971 | ||||||||||||||||||||
— | 2,402,100 | 22,597 | 2,593,937 | 58,515 | 473,922 | — | ||||||||||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | 3.18 | ||||||||||||||||||||
— | — | — | — | — | — | 3.32 | ||||||||||||||||||||
— | — | — | — | — | — | 17.58 | ||||||||||||||||||||
— | — | — | — | — | — | 12.91 | ||||||||||||||||||||
11.40 | — | — | — | — | — | 28.43 | ||||||||||||||||||||
11.36 | — | — | — | — | — | 26.28 | ||||||||||||||||||||
11.39 | 13.45 | 10.07 | 14.30 | 10.12 | 11.20 | 28.42 | ||||||||||||||||||||
11.35 | 13.13 | 10.06 | 13.96 | 10.11 | 11.09 | 26.27 | ||||||||||||||||||||
— | 13.45 | 10.07 | 14.30 | 10.12 | 11.20 | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
— | — | — | — | — | — | — |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Assets and Liabilities (continued) | ||||||||
Dreyfus IP | DWS | |||||||
Technology | Small
Mid | |||||||
Growth | Cap Value | |||||||
Service Shares | Class B | |||||||
Division | Division | |||||||
Assets | ||||||||
Investments
in shares of mutual funds, at market | $ | 4,605,048 | $ | 146,421 | ||||
Liabilities | — | — | ||||||
Net
assets | $ | 4,605,048 | $ | 146,421 | ||||
Net
assets | ||||||||
Applicable to accumulation units: | ||||||||
Bankers Flexible Annuity | $ | — | $ | — | ||||
Pension
Builder Plus | — | — | ||||||
Pension Builder Plus – Rollover IRA | — | — | ||||||
Personal
Variable | — | — | ||||||
Premier Variable | — | — | ||||||
Principal
Freedom Variable Annuity | — | — | ||||||
Principal Freedom Variable Annuity 2 | — | — | ||||||
The
Principal Variable Annuity | — | 12,134 | ||||||
The Principal Variable Annuity with Purchase Payment Credit Rider | — | — | ||||||
Principal
Investment Plus Variable Annuity | 3,639,451 | 88,855 | ||||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 965,597 | 45,432 | ||||||
Principal
Lifetime Income Solutions | — | — | ||||||
Applicable to contracts in annuitization period: | ||||||||
Bankers
Flexible Annuity | — | — | ||||||
Pension Builder Plus – Rollover IRA | — | — | ||||||
Total
net assets | $ | 4,605,048 | $ | 146,421 | ||||
Investments
in shares of mutual funds, at cost | $ | 3,546,681 | $ | 133,344 | ||||
Shares of mutual fund owned | 258,420 | 8,578 | ||||||
Accumulation
units outstanding: | ||||||||
Bankers Flexible Annuity | — | — | ||||||
Pension
Builder Plus | — | — | ||||||
Pension Builder Plus - Rollover IRA | — | — | ||||||
Personal
Variable | — | — | ||||||
Premier Variable | — | — | ||||||
Principal
Freedom Variable Annuity | — | — | ||||||
Principal Freedom Variable Annuity 2 | — | — | ||||||
The
Principal Variable Annuity | — | 1,066 | ||||||
The Principal Variable Annuity with Purchase Payment Credit Rider | — | — | ||||||
Principal
Investment Plus Variable Annuity | 169,659 | 7,806 | ||||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 47,616 | 4,006 | ||||||
Principal
Lifetime Income Solutions | — | — | ||||||
Accumulation unit value: | ||||||||
Bankers
Flexible Annuity | $ | — | $ | — | ||||
Pension Builder Plus | — | — | ||||||
Pension
Builder Plus - Rollover IRA | — | — | ||||||
Personal Variable | — | — | ||||||
Premier
Variable | — | — | ||||||
Principal Freedom Variable Annuity | — | — | ||||||
Principal
Freedom Variable Annuity 2 | — | — | ||||||
The Principal Variable Annuity | — | 11.39 | ||||||
The
Principal Variable Annuity with Purchase Payment Credit Rider | — | 11.35 | ||||||
Principal Investment Plus Variable Annuity | 21.45 | 11.38 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 20.28 | 11.34 | ||||||
Principal Lifetime Income Solutions | — | — | ||||||
Annuitized
units outstanding: | ||||||||
Bankers Flexible Annuity | — | — | ||||||
Pension
Builder Plus – Rollover IRA | — | — | ||||||
Annuitized unit value: | ||||||||
Bankers
Flexible Annuity | $ | — | $ | — | ||||
Pension Builder Plus – Rollover IRA | — | — | ||||||
See
accompanying notes. |
Fidelity
VIP | Fidelity VIP | Fidelity VIP | Fidelity VIP | Fidelity VIP | Fidelity VIP | |||||||||||||||||||||
Equity | Contrafund | Contrafund | Equity-Income | Growth | Growth | Mid
Cap | ||||||||||||||||||||
Income | Service | Service | Service | Service | Service | Service | ||||||||||||||||||||
Class
1 | Class | Class 2 | Class 2 | Class | Class 2 | Class 2 | ||||||||||||||||||||
Division | Division | Division | Division | Division | Division | Division | ||||||||||||||||||||
$ | 293,599,834 | $ | 51,075,598 | $ | 55,839,729 | $ | 39,708,357 | $ | 16,637,391 | $ | 8,345,883 | $ | 15,323,458 | |||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | 293,599,834 | $ | 51,075,598 | $ | 55,839,729 | $ | 39,708,357 | $ | 16,637,391 | $ | 8,345,883 | $ | 15,323,458 | |||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
69,772 | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
60,882,901 | 50,512,722 | — | 27,765,291 | 16,527,940 | — | — | ||||||||||||||||||||
876,253 | 562,876 | — | 475,155 | 109,451 | — | — | ||||||||||||||||||||
191,596,482 | — | 46,913,865 | 9,137,194 | — | 6,103,626 | 13,017,027 | ||||||||||||||||||||
40,174,426 | — | 8,925,864 | 2,330,717 | — | 2,242,257 | 2,306,431 | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | 293,599,834 | $ | 51,075,598 | $ | 55,839,729 | $ | 39,708,357 | $ | 16,637,391 | $ | 8,345,883 | $ | 15,323,458 | |||||||||||||
$ | 219,224,932 | $ | 37,453,599 | $ | 37,910,737 | $ | 35,541,943 | $ | 11,794,977 | $ | 5,335,390 | $ | 13,070,780 | |||||||||||||
13,980,944 | 1,491,694 | 1,653,531 | 1,735,505 | 291,884 | 147,532 | 430,434 | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
39,857 | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
4,527,434 | 2,343,489 | — | 1,668,947 | 1,238,644 | — | — | ||||||||||||||||||||
67,954 | 28,251 | — | 30,626 | 8,874 | — | — | ||||||||||||||||||||
14,253,886 | — | 2,257,915 | 549,497 | — | 336,335 | 524,852 | ||||||||||||||||||||
3,116,916 | — | 454,436 | 150,300 | — | 130,703 | 98,374 | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
1.75 | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
13.45 | 21.55 | — | 16.64 | 13.34 | — | — | ||||||||||||||||||||
12.89 | 19.92 | — | 15.51 | 12.33 | — | — | ||||||||||||||||||||
13.44 | — | 20.78 | 16.63 | — | 18.15 | 24.80 | ||||||||||||||||||||
12.89 | — | 19.64 | 15.51 | — | 17.16 | 23.45 | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
— | — | — | — | — | — | — |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Assets and Liabilities (continued) | ||||||||
Fidelity VIP | Franklin | |||||||
Overseas | Small
Cap | |||||||
Service | Value Securities | |||||||
Class 2 | Class 2 | |||||||
Division | Division | |||||||
Assets | ||||||||
Investments
in shares of mutual funds, at market | $ | 45,762,035 | $ | 3,494,447 | ||||
Liabilities | — | — | ||||||
Net
assets | $ | 45,762,035 | $ | 3,494,447 | ||||
Net
assets | ||||||||
Applicable to accumulation units: | ||||||||
Bankers Flexible Annuity | $ | — | $ | — | ||||
Pension
Builder Plus | — | — | ||||||
Pension Builder Plus – Rollover IRA | — | — | ||||||
Personal
Variable | — | — | ||||||
Premier Variable | — | — | ||||||
Principal
Freedom Variable Annuity | — | — | ||||||
Principal Freedom Variable Annuity 2 | — | — | ||||||
The
Principal Variable Annuity | — | 159,023 | ||||||
The Principal Variable Annuity with Purchase Payment Credit Rider | — | 1,276 | ||||||
Principal
Investment Plus Variable Annuity | 35,847,260 | 2,891,245 | ||||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 9,914,775 | 442,903 | ||||||
Principal
Lifetime Income Solutions | — | — | ||||||
Applicable to contracts in annuitization period: | ||||||||
Bankers
Flexible Annuity | — | — | ||||||
Pension Builder Plus – Rollover IRA | — | — | ||||||
Total
net assets | $ | 45,762,035 | $ | 3,494,447 | ||||
Investments
in shares of mutual funds, at cost | $ | 33,560,719 | $ | 2,714,767 | ||||
Shares of mutual fund owned | 2,235,566 | 145,179 | ||||||
Accumulation
units outstanding: | ||||||||
Bankers Flexible Annuity | — | — | ||||||
Pension
Builder Plus | — | — | ||||||
Pension Builder Plus - Rollover IRA | — | — | ||||||
Personal
Variable | — | — | ||||||
Premier Variable | — | — | ||||||
Principal
Freedom Variable Annuity | — | — | ||||||
Principal Freedom Variable Annuity 2 | — | — | ||||||
The
Principal Variable Annuity | — | 8,402 | ||||||
The Principal Variable Annuity with Purchase Payment Credit Rider | — | 69 | ||||||
Principal
Investment Plus Variable Annuity | 2,015,435 | 152,820 | ||||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 589,677 | 23,979 | ||||||
Principal
Lifetime Income Solutions | — | — | ||||||
Accumulation unit value: | ||||||||
Bankers
Flexible Annuity | $ | — | $ | — | ||||
Pension Builder Plus | — | — | ||||||
Pension
Builder Plus - Rollover IRA | — | — | ||||||
Personal Variable | — | — | ||||||
Premier
Variable | — | — | ||||||
Principal Freedom Variable Annuity | — | — | ||||||
Principal
Freedom Variable Annuity 2 | — | — | ||||||
The Principal Variable Annuity | — | 18.93 | ||||||
The
Principal Variable Annuity with Purchase Payment Credit Rider | — | 18.48 | ||||||
Principal Investment Plus Variable Annuity | 17.79 | 18.92 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 16.81 | 18.47 | ||||||
Principal Lifetime Income Solutions | — | — | ||||||
Annuitized
units outstanding: | ||||||||
Bankers Flexible Annuity | — | — | ||||||
Pension
Builder Plus – Rollover IRA | — | — | ||||||
Annuitized unit value: | ||||||||
Bankers
Flexible Annuity | $ | — | $ | — | ||||
Pension Builder Plus – Rollover IRA | — | — | ||||||
See
accompanying notes. |
Goldman
Sachs | Goldman Sachs | Government | ||||||||||||||||||||||||
VIT Mid Cap | VIT
Structured | & High | International | Invesco | Invesco | |||||||||||||||||||||
Value | Small
Cap | Quality | Emerging | American | Invesco | Global | ||||||||||||||||||||
Service | Equity
Service | Bond | Markets | Franchise | Core Equity | Health Care | ||||||||||||||||||||
Class I | Class
I | Class 1 | Class 1 | Series I | Series I | Series I | ||||||||||||||||||||
Division | Division | Division | Division | Division | Division | Division | ||||||||||||||||||||
$ | 18,015,044 | $ | 7,163,725 | $ | 159,943,979 | $ | 74,988,427 | $ | 5,160,121 | $ | 23,622,775 | $ | 10,479,072 | |||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | 18,015,044 | $ | 7,163,725 | $ | 159,943,979 | $ | 74,988,427 | $ | 5,160,121 | $ | 23,622,775 | $ | 10,479,072 | |||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
— | — | 111,432 | — | — | — | — | ||||||||||||||||||||
— | — | 31,257 | — | — | — | — | ||||||||||||||||||||
— | — | 160,353 | — | — | — | — | ||||||||||||||||||||
— | — | 2,775,555 | 460,791 | — | — | — | ||||||||||||||||||||
— | — | 3,024,920 | — | — | — | — | ||||||||||||||||||||
— | — | 319,201 | — | — | — | — | ||||||||||||||||||||
57,465 | 95,451 | 84,760,017 | 32,689,231 | 5,128,291 | 23,603,115 | 10,296,757 | ||||||||||||||||||||
— | — | 1,338,979 | 1,083,229 | 31,830 | 19,660 | 182,315 | ||||||||||||||||||||
13,564,476 | 5,488,874 | 55,566,232 | 32,890,763 | — | — | — | ||||||||||||||||||||
4,393,103 | 1,579,400 | 11,856,033 | 7,864,413 | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | 18,015,044 | $ | 7,163,725 | $ | 159,943,979 | $ | 74,988,427 | $ | 5,160,121 | $ | 23,622,775 | $ | 10,479,072 | |||||||||||||
$ | 14,207,679 | $ | 5,562,613 | $ | 163,861,265 | $ | 74,677,973 | $ | 3,812,097 | $ | 15,801,481 | $ | 6,649,572 | |||||||||||||
966,472 | 475,363 | 15,483,444 | 4,704,418 | 101,918 | 614,696 | 357,404 | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | 34,914 | — | — | — | — | ||||||||||||||||||||
— | — | 8,587 | — | — | — | — | ||||||||||||||||||||
— | — | 63,128 | — | — | — | — | ||||||||||||||||||||
— | — | 1,042,314 | 122,125 | — | — | — | ||||||||||||||||||||
— | — | 253,843 | — | — | — | — | ||||||||||||||||||||
— | — | 26,926 | — | — | — | — | ||||||||||||||||||||
2,649 | 5,482 | 7,261,224 | 975,856 | 383,029 | 1,604,926 | 540,294 | ||||||||||||||||||||
— | — | 118,280 | 34,984 | 2,401 | 1,446 | 10,320 | ||||||||||||||||||||
625,442 | 315,357 | 4,762,345 | 982,339 | — | — | — | ||||||||||||||||||||
214,274 | 95,991 | 1,047,773 | 254,107 | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
— | — | 3.19 | — | — | — | — | ||||||||||||||||||||
— | — | 3.64 | — | — | — | — | ||||||||||||||||||||
— | — | 2.54 | — | — | — | — | ||||||||||||||||||||
— | — | 2.66 | 3.77 | — | — | — | ||||||||||||||||||||
— | — | 11.92 | — | — | — | — | ||||||||||||||||||||
— | — | 11.86 | — | — | — | — | ||||||||||||||||||||
21.70 | 17.41 | 11.67 | 33.50 | 13.39 | 14.71 | 19.06 | ||||||||||||||||||||
20.51 | 16.46 | 11.32 | 30.96 | 13.26 | 13.59 | 17.67 | ||||||||||||||||||||
21.69 | 17.41 | 11.67 | 33.48 | — | — | — | ||||||||||||||||||||
20.50 | 16.45 | 11.32 | 30.95 | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
— | — | — | — | — | — | — |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Assets and Liabilities (continued) | ||||||||
Invesco | Invesco | |||||||
International | Midcap | |||||||
Growth | Growth | |||||||
Series
I | Series I | |||||||
Division | Division | |||||||
Assets | ||||||||
Investments
in shares of mutual funds, at market | $ | 8,853,384 | $ | 1,672,057 | ||||
Liabilities | — | — | ||||||
Net
assets | $ | 8,853,384 | $ | 1,672,057 | ||||
Net
assets | ||||||||
Applicable to accumulation units: | ||||||||
Bankers Flexible Annuity | $ | — | $ | — | ||||
Pension
Builder Plus | — | — | ||||||
Pension Builder Plus – Rollover IRA | — | — | ||||||
Personal
Variable | — | — | ||||||
Premier Variable | — | — | ||||||
Principal
Freedom Variable Annuity | — | — | ||||||
Principal Freedom Variable Annuity 2 | — | — | ||||||
The
Principal Variable Annuity | — | 1,556,027 | ||||||
The Principal Variable Annuity with Purchase Payment Credit Rider | — | 116,030 | ||||||
Principal
Investment Plus Variable Annuity | 8,079,342 | — | ||||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 774,042 | — | ||||||
Principal
Lifetime Income Solutions | — | — | ||||||
Applicable to contracts in annuitization period: | ||||||||
Bankers
Flexible Annuity | — | — | ||||||
Pension Builder Plus – Rollover IRA | — | — | ||||||
Total
net assets | $ | 8,853,384 | $ | 1,672,057 | ||||
Investments
in shares of mutual funds, at cost | $ | 7,145,529 | $ | 257,055 | ||||
Shares of mutual fund owned | 250,662 | 312,534 | ||||||
Accumulation
units outstanding: | ||||||||
Bankers Flexible Annuity | — | — | ||||||
Pension
Builder Plus | — | — | ||||||
Pension Builder Plus - Rollover IRA | — | — | ||||||
Personal
Variable | — | — | ||||||
Premier Variable | — | — | ||||||
Principal
Freedom Variable Annuity | — | — | ||||||
Principal Freedom Variable Annuity 2 | — | — | ||||||
The
Principal Variable Annuity | — | 117,437 | ||||||
The Principal Variable Annuity with Purchase Payment Credit Rider | — | 8,846 | ||||||
Principal
Investment Plus Variable Annuity | 720,094 | — | ||||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 71,359 | — | ||||||
Principal
Lifetime Income Solutions | — | — | ||||||
Accumulation unit value: | ||||||||
Bankers
Flexible Annuity | $ | — | $ | — | ||||
Pension Builder Plus | — | — | ||||||
Pension
Builder Plus - Rollover IRA | — | — | ||||||
Personal Variable | — | — | ||||||
Premier
Variable | — | — | ||||||
Principal Freedom Variable Annuity | — | — | ||||||
Principal
Freedom Variable Annuity 2 | — | — | ||||||
The Principal Variable Annuity | — | 13.25 | ||||||
The
Principal Variable Annuity with Purchase Payment Credit Rider | — | 13.12 | ||||||
Principal Investment Plus Variable Annuity | 11.22 | — | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 10.85 | — | ||||||
Principal Lifetime Income Solutions | — | — | ||||||
Annuitized
units outstanding: | ||||||||
Bankers Flexible Annuity | — | — | ||||||
Pension
Builder Plus – Rollover IRA | — | — | ||||||
Annuitized unit value: | ||||||||
Bankers
Flexible Annuity | $ | — | $ | — | ||||
Pension Builder Plus – Rollover IRA | — | — | ||||||
See
accompanying notes. |
Invesco | Invesco | |||||||||||||||||||||||||
Small
Cap | Invesco | Value | Janus Aspen | LargeCap | LargeCap | LargeCap | ||||||||||||||||||||
Equity | Technology | Opportunities | Enterprise | Blend
II | Growth | Growth I | ||||||||||||||||||||
Series I | Series I | Series I | Service Shares | Class
1 | Class 1 | Class 1 | ||||||||||||||||||||
Division | Division | Division | Division | Division | Division | Division | ||||||||||||||||||||
$ | 10,622,696 | $ | 3,425,535 | $ | 5,665,937 | $ | 9,930,569 | $ | 135,701,373 | $ | 55,521,900 | $ | 114,517,790 | |||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | 10,622,696 | $ | 3,425,535 | $ | 5,665,937 | $ | 9,930,569 | $ | 135,701,373 | $ | 55,521,900 | $ | 114,517,790 | |||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | 769,023 | — | ||||||||||||||||||||
— | — | — | — | — | 4,182,518 | 489,848 | ||||||||||||||||||||
— | — | — | — | — | — | 1,867,099 | ||||||||||||||||||||
— | — | — | — | — | — | 120,279 | ||||||||||||||||||||
3,934,074 | 3,334,214 | — | 9,842,091 | 44,715,603 | 35,840,890 | 94,550,178 | ||||||||||||||||||||
59,570 | 91,321 | — | 88,478 | 1,068,356 | 185,181 | 516,616 | ||||||||||||||||||||
5,517,665 | — | 4,629,975 | — | 72,435,727 | 11,430,181 | 13,978,073 | ||||||||||||||||||||
1,111,387 | — | 1,035,962 | — | 17,481,687 | 3,114,107 | 2,995,697 | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | 10,622,696 | $ | 3,425,535 | $ | 5,665,937 | $ | 9,930,569 | $ | 135,701,373 | $ | 55,521,900 | $ | 114,517,790 | |||||||||||||
$ | 7,444,357 | $ | 2,635,187 | $ | 3,890,583 | $ | 5,001,872 | $ | 107,549,438 | $ | 38,015,807 | $ | 65,194,672 | |||||||||||||
417,559 | 176,392 | 605,335 | 174,834 | 13,449,095 | 2,494,245 | 3,514,972 | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | 267,931 | — | ||||||||||||||||||||
— | — | — | — | — | 1,396,885 | 256,211 | ||||||||||||||||||||
— | — | — | — | — | — | 112,980 | ||||||||||||||||||||
— | — | — | — | — | — | 7,326 | ||||||||||||||||||||
172,624 | 398,173 | — | 737,022 | 2,527,895 | 1,343,457 | 1,848,395 | ||||||||||||||||||||
2,765 | 11,765 | — | 7,168 | 64,763 | 7,510 | 10,926 | ||||||||||||||||||||
242,232 | — | 324,619 | — | 4,096,717 | 428,653 | 273,377 | ||||||||||||||||||||
51,613 | — | 76,836 | — | 1,060,182 | 126,345 | 63,385 | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | 2.87 | — | ||||||||||||||||||||
— | — | — | — | — | 2.99 | 1.91 | ||||||||||||||||||||
— | — | — | — | — | — | 16.53 | ||||||||||||||||||||
— | — | — | — | — | — | 16.42 | ||||||||||||||||||||
22.79 | 8.37 | — | 13.35 | 17.69 | 26.68 | 51.15 | ||||||||||||||||||||
21.54 | 7.76 | — | 12.34 | 16.50 | 24.66 | 47.28 | ||||||||||||||||||||
22.78 | — | 14.26 | — | 17.68 | 26.67 | 51.13 | ||||||||||||||||||||
21.53 | — | 13.48 | — | 16.49 | 24.65 | 47.26 | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
— | — | — | — | — | — | — |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Assets and Liabilities (continued) | ||||||||
LargeCap | ||||||||
S&P 500 | LargeCap | |||||||
Index | Value | |||||||
Class
1 | Class 1 | |||||||
Division | Division | |||||||
Assets | ||||||||
Investments
in shares of mutual funds, at market | $ | 101,189,377 | $ | 95,525,368 | ||||
Liabilities | — | — | ||||||
Net
assets | $ | 101,189,377 | $ | 95,525,368 | ||||
Net
assets | ||||||||
Applicable to accumulation units: | ||||||||
Bankers Flexible Annuity | $ | — | $ | 1,034,313 | ||||
Pension
Builder Plus | — | 2,118,950 | ||||||
Pension Builder Plus – Rollover IRA | — | 188,759 | ||||||
Personal
Variable | — | 404,727 | ||||||
Premier Variable | 334,326 | 6,548,131 | ||||||
Principal
Freedom Variable Annuity | 8,606,447 | 3,176,431 | ||||||
Principal Freedom Variable Annuity 2 | 529,046 | 358,140 | ||||||
The
Principal Variable Annuity | 51,517,053 | 62,655,011 | ||||||
The Principal Variable Annuity with Purchase Payment Credit Rider | 497,988 | 334,819 | ||||||
Principal
Investment Plus Variable Annuity | 32,949,885 | 13,957,520 | ||||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 6,754,632 | 4,628,820 | ||||||
Principal
Lifetime Income Solutions | — | — | ||||||
Applicable to contracts in annuitization period: | ||||||||
Bankers
Flexible Annuity | — | (6) | ||||||
Pension Builder Plus – Rollover IRA | — | 119,753 | ||||||
Total
net assets | $ | 101,189,377 | $ | 95,525,368 | ||||
Investments
in shares of mutual funds, at cost | $ | 64,508,595 | $ | 72,375,261 | ||||
Shares of mutual fund owned | 7,562,734 | 2,643,935 | ||||||
Accumulation
units outstanding: | ||||||||
Bankers Flexible Annuity | — | 18,355 | ||||||
Pension
Builder Plus | — | 238,580 | ||||||
Pension Builder Plus - Rollover IRA | — | 17,904 | ||||||
Personal
Variable | — | 88,822 | ||||||
Premier Variable | 189,433 | 1,370,925 | ||||||
Principal
Freedom Variable Annuity | 563,697 | 204,071 | ||||||
Principal Freedom Variable Annuity 2 | 34,316 | 25,120 | ||||||
The
Principal Variable Annuity | 3,579,035 | 1,726,014 | ||||||
The Principal Variable Annuity with Purchase Payment Credit Rider | 37,428 | 9,978 | ||||||
Principal
Investment Plus Variable Annuity | 2,290,149 | 384,665 | ||||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 507,898 | 138,009 | ||||||
Principal
Lifetime Income Solutions | — | — | ||||||
Accumulation unit value: | ||||||||
Bankers
Flexible Annuity | $ | — | $ | 55.42 | ||||
Pension Builder Plus | — | 8.88 | ||||||
Pension
Builder Plus - Rollover IRA | — | 10.60 | ||||||
Personal Variable | — | 4.56 | ||||||
Premier
Variable | 1.76 | 4.78 | ||||||
Principal Freedom Variable Annuity | 15.27 | 15.57 | ||||||
Principal
Freedom Variable Annuity 2 | 15.42 | 14.26 | ||||||
The Principal Variable Annuity | 14.39 | 36.30 | ||||||
The
Principal Variable Annuity with Purchase Payment Credit Rider | 13.31 | 33.55 | ||||||
Principal Investment Plus Variable Annuity | 14.39 | 36.29 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 13.30 | 33.54 | ||||||
Principal Lifetime Income Solutions | — | — | ||||||
Annuitized
units outstanding: | ||||||||
Bankers Flexible Annuity | — | — | ||||||
Pension
Builder Plus – Rollover IRA | — | 11,298 | ||||||
Annuitized unit value: | ||||||||
Bankers
Flexible Annuity | $ | — | $ | 55.42 | ||||
Pension Builder Plus – Rollover IRA | — | 10.59 | ||||||
See
accompanying notes. |
Neuberger | Neuberger | ||||||||||||||||||||||||
Berman
AMT | Berman AMT | ||||||||||||||||||||||||
MFS VIT | MFS VIT | MFS VIT | Money | Large
Cap | Small-Cap | ||||||||||||||||||||
New Discovery | Utilities | Value | MidCap | Market | Value | Growth | |||||||||||||||||||
Service
Class | Service Class | Service Class | Class 1 | Class 1 | I Class | S Class | |||||||||||||||||||
Division | Division | Division | Division | Division | Division | Division | |||||||||||||||||||
$ | 598,176 | $ | 8,630,767 | $ | 4,442,463 | $ | 412,319,056 | $ | 65,639,356 | $ | 5,443,204 | $ | 3,748,069 | ||||||||||||
— | — | — | — | — | — | — | |||||||||||||||||||
$ | 598,176 | $ | 8,630,767 | $ | 4,442,463 | $ | 412,319,056 | $ | 65,639,356 | $ | 5,443,204 | $ | 3,748,069 | ||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||
— | — | — | — | 98,627 | — | — | |||||||||||||||||||
— | — | — | — | 1 | — | — | |||||||||||||||||||
— | — | — | 1,141,613 | 461,113 | — | — | |||||||||||||||||||
— | — | — | 7,032,462 | 3,421,301 | — | — | |||||||||||||||||||
— | — | — | 9,810,250 | 2,265,135 | — | — | |||||||||||||||||||
— | — | — | 702,992 | 266,413 | — | — | |||||||||||||||||||
221,155 | — | — | 235,044,769 | 29,244,834 | — | — | |||||||||||||||||||
4,861 | — | — | 2,411,659 | 680,382 | — | — | |||||||||||||||||||
252,003 | 7,284,778 | 3,688,098 | 129,767,944 | 24,907,568 | 4,369,967 | 2,712,855 | |||||||||||||||||||
120,157 | 1,345,989 | 754,365 | 26,407,367 | 4,293,982 | 1,073,237 | 1,035,214 | |||||||||||||||||||
— | — | — | — | — | — | — | |||||||||||||||||||
— | — | — | — | — | — | — | |||||||||||||||||||
— | — | — | — | — | — | — | |||||||||||||||||||
$ | 598,176 | $ | 8,630,767 | $ | 4,442,463 | $ | 412,319,056 | $ | 65,639,356 | $ | 5,443,204 | $ | 3,748,069 | ||||||||||||
$ | 555,965 | $ | 7,802,627 | $ | 3,551,221 | $ | 238,921,738 | $ | 65,639,355 | $ | 3,926,142 | $ | 2,401,149 | ||||||||||||
28,457 | 274,254 | 233,445 | 6,944,906 | 65,639,355 | 361,915 | 194,705 | |||||||||||||||||||
— | — | — | — | — | — | — | |||||||||||||||||||
— | — | — | — | 45,628 | — | — | |||||||||||||||||||
— | — | — | — | — | — | — | |||||||||||||||||||
— | — | — | 141,599 | 287,812 | — | — | |||||||||||||||||||
— | — | — | 836,042 | 2,035,317 | — | — | |||||||||||||||||||
— | — | — | 247,200 | 188,818 | — | — | |||||||||||||||||||
— | — | — | 32,643 | 25,626 | — | — | |||||||||||||||||||
18,679 | — | — | 3,211,498 | 2,147,550 | — | — | |||||||||||||||||||
412 | — | — | 35,648 | 54,051 | — | — | |||||||||||||||||||
21,294 | 357,526 | 183,628 | 1,773,817 | 1,829,946 | 247,413 | 182,483 | |||||||||||||||||||
10,191 | 67,920 | 38,617 | 390,504 | 341,292 | 64,278 | 73,662 | |||||||||||||||||||
— | — | — | — | — | — | — | |||||||||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||
— | — | — | — | 2.16 | — | — | |||||||||||||||||||
— | — | — | — | 2.42 | — | — | |||||||||||||||||||
— | — | — | 8.06 | 1.60 | — | — | |||||||||||||||||||
— | — | — | 8.41 | 1.68 | — | — | |||||||||||||||||||
— | — | — | 39.69 | 12.00 | — | — | |||||||||||||||||||
— | — | — | 21.53 | 10.41 | — | — | |||||||||||||||||||
11.84 | — | — | 73.19 | 13.62 | — | — | |||||||||||||||||||
11.80 | — | — | 67.65 | 12.59 | — | — | |||||||||||||||||||
11.83 | 20.38 | 20.09 | 73.16 | 13.61 | 17.66 | 14.87 | |||||||||||||||||||
11.79 | 19.82 | 19.54 | 67.62 | 12.58 | 16.70 | 14.05 | |||||||||||||||||||
— | — | — | — | 13.61 | — | — | |||||||||||||||||||
— | — | — | — | — | — | — | |||||||||||||||||||
— | — | — | — | — | — | — | |||||||||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||
— | — | — | — | — | — | — |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Assets and Liabilities (continued) | ||||||||
Neuberger | ||||||||
Berman AMT | Oppenheimer | |||||||
Socially | Main
Street | |||||||
Responsive | Small Cap | |||||||
I Class | Service Shares | |||||||
Division | Division | |||||||
Assets | ||||||||
Investments
in shares of mutual funds, at market | $ | 7,438,725 | $ | 377,606 | ||||
Liabilities | — | — | ||||||
Net
assets | $ | 7,438,725 | $ | 377,606 | ||||
Net
assets | ||||||||
Applicable to accumulation units: | ||||||||
Bankers Flexible Annuity | $ | — | $ | — | ||||
Pension
Builder Plus | — | — | ||||||
Pension Builder Plus – Rollover IRA | — | — | ||||||
Personal
Variable | — | — | ||||||
Premier Variable | — | — | ||||||
Principal
Freedom Variable Annuity | — | — | ||||||
Principal Freedom Variable Annuity 2 | — | — | ||||||
The
Principal Variable Annuity | — | 372,827 | ||||||
The Principal Variable Annuity with Purchase Payment Credit Rider | — | 4,779 | ||||||
Principal
Investment Plus Variable Annuity | 6,118,307 | — | ||||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 1,320,418 | — | ||||||
Principal
Lifetime Income Solutions | — | — | ||||||
Applicable to contracts in annuitization period: | ||||||||
Bankers
Flexible Annuity | — | — | ||||||
Pension Builder Plus – Rollover IRA | — | — | ||||||
Total
net assets | $ | 7,438,725 | $ | 377,606 | ||||
Investments
in shares of mutual funds, at cost | $ | 4,794,611 | $ | 354,684 | ||||
Shares of mutual fund owned | 342,483 | 13,716 | ||||||
Accumulation
units outstanding: | ||||||||
Bankers Flexible Annuity | — | — | ||||||
Pension
Builder Plus | — | — | ||||||
Pension Builder Plus - Rollover IRA | — | — | ||||||
Personal
Variable | — | — | ||||||
Premier Variable | — | — | ||||||
Principal
Freedom Variable Annuity | — | — | ||||||
Principal Freedom Variable Annuity 2 | — | — | ||||||
The
Principal Variable Annuity | — | 32,324 | ||||||
The Principal Variable Annuity with Purchase Payment Credit Rider | — | 416 | ||||||
Principal
Investment Plus Variable Annuity | 315,141 | — | ||||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 71,946 | — | ||||||
Principal
Lifetime Income Solutions | — | — | ||||||
Accumulation unit value: | ||||||||
Bankers
Flexible Annuity | $ | — | $ | — | ||||
Pension Builder Plus | — | — | ||||||
Pension
Builder Plus - Rollover IRA | — | — | ||||||
Personal Variable | — | — | ||||||
Premier
Variable | — | — | ||||||
Principal Freedom Variable Annuity | — | — | ||||||
Principal
Freedom Variable Annuity 2 | — | — | ||||||
The Principal Variable Annuity | — | 11.53 | ||||||
The
Principal Variable Annuity with Purchase Payment Credit Rider | — | 11.49 | ||||||
Principal Investment Plus Variable Annuity | 19.42 | — | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 18.35 | — | ||||||
Principal Lifetime Income Solutions | — | — | ||||||
Annuitized
units outstanding: | ||||||||
Bankers Flexible Annuity | — | — | ||||||
Pension
Builder Plus – Rollover IRA | — | — | ||||||
Annuitized unit value: | ||||||||
Bankers
Flexible Annuity | $ | — | $ | — | ||||
Pension Builder Plus – Rollover IRA | — | — | ||||||
See
accompanying notes. |
Principal | ||||||||||||||||||||||||||
PIMCO | PIMCO | PIMCO | Principal | LifeTime | Principal | Principal | ||||||||||||||||||||
All
Asset | High Yield | Total Return | Capital | Strategic | LifeTime | LifeTime | ||||||||||||||||||||
Administrative | Administrative | Administrative | Appreciation | Income | 2010 | 2020 | ||||||||||||||||||||
Class | Class | Class | Class
1 | Class 1 | Class 1 | Class 1 | ||||||||||||||||||||
Division | Division | Division | Division | Division | Division | Division | ||||||||||||||||||||
$ | 4,993,775 | $ | 14,203,857 | $ | 31,116,303 | $ | 16,817,350 | $ | 24,405,646 | $ | 36,993,565 | $ | 176,093,682 | |||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | 4,993,775 | $ | 14,203,857 | $ | 31,116,303 | $ | 16,817,350 | $ | 24,405,646 | $ | 36,993,565 | $ | 176,093,682 | |||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | 44,666 | 819,145 | 2,297,840 | 4,721,574 | ||||||||||||||||||||
— | — | — | — | 3,614,551 | 1,932,907 | 6,338,764 | ||||||||||||||||||||
— | — | — | — | 549 | 574 | 596 | ||||||||||||||||||||
4,235,298 | 12,671,065 | 28,610,677 | 13,552,211 | 17,175,816 | 29,526,163 | 132,929,962 | ||||||||||||||||||||
758,477 | 1,532,792 | 2,505,626 | 3,220,473 | 2,795,585 | 3,236,081 | 32,102,786 | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | 4,993,775 | $ | 14,203,857 | $ | 31,116,303 | $ | 16,817,350 | $ | 24,405,646 | $ | 36,993,565 | $ | 176,093,682 | |||||||||||||
$ | 5,204,755 | $ | 14,099,138 | $ | 32,522,182 | $ | 15,036,955 | $ | 21,758,934 | $ | 31,851,454 | $ | 147,045,225 | |||||||||||||
458,987 | 1,760,081 | 2,833,907 | 687,826 | 2,161,705 | 3,010,054 | 12,929,052 | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | 3,019 | 66,603 | 176,250 | 342,638 | ||||||||||||||||||||
— | — | — | — | 265,737 | 130,400 | 392,709 | ||||||||||||||||||||
— | — | — | — | 43 | 41 | 39 | ||||||||||||||||||||
291,810 | 932,325 | 2,344,538 | 934,986 | 1,263,258 | 1,993,170 | 8,238,620 | ||||||||||||||||||||
53,731 | 115,522 | 211,113 | 231,268 | 217,465 | 231,046 | 2,104,351 | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | 14.80 | 12.30 | 13.04 | 13.78 | ||||||||||||||||||||
— | — | — | — | 13.60 | 14.82 | 16.14 | ||||||||||||||||||||
— | — | — | — | 12.86 | 14.01 | 15.26 | ||||||||||||||||||||
14.51 | 13.60 | 12.21 | 14.50 | 13.60 | 14.81 | 16.14 | ||||||||||||||||||||
14.12 | 13.28 | 11.87 | 13.93 | 12.86 | 14.01 | 15.26 | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
— | — | — | — | — | — | — |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Assets and Liabilities (continued) | ||||||||
Principal | Principal | |||||||
LifeTime | LifeTime | |||||||
2030 | 2040 | |||||||
Class
1 | Class 1 | |||||||
Division | Division | |||||||
Assets | ||||||||
Investments
in shares of mutual funds, at market | $ | 72,233,052 | $ | 13,052,660 | ||||
Liabilities | — | — | ||||||
Net
assets | $ | 72,233,052 | $ | 13,052,660 | ||||
Net
assets | ||||||||
Applicable to accumulation units: | ||||||||
Bankers Flexible Annuity | $ | — | $ | — | ||||
Pension
Builder Plus | — | — | ||||||
Pension Builder Plus – Rollover IRA | — | — | ||||||
Personal
Variable | — | — | ||||||
Premier Variable | — | — | ||||||
Principal
Freedom Variable Annuity | — | — | ||||||
Principal Freedom Variable Annuity 2 | 2,910,963 | 345,204 | ||||||
The
Principal Variable Annuity | 2,185,465 | 432,820 | ||||||
The Principal Variable Annuity with Purchase Payment Credit Rider | 607 | 624 | ||||||
Principal
Investment Plus Variable Annuity | 55,835,404 | 10,588,542 | ||||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 11,300,613 | 1,685,470 | ||||||
Principal
Lifetime Income Solutions | — | — | ||||||
Applicable to contracts in annuitization period: | ||||||||
Bankers
Flexible Annuity | — | — | ||||||
Pension Builder Plus – Rollover IRA | — | — | ||||||
Total
net assets | $ | 72,233,052 | $ | 13,052,660 | ||||
Investments
in shares of mutual funds, at cost | $ | 49,589,286 | $ | 10,147,326 | ||||
Shares of mutual fund owned | 5,141,143 | 873,672 | ||||||
Accumulation
units outstanding: | ||||||||
Bankers Flexible Annuity | — | — | ||||||
Pension
Builder Plus | — | — | ||||||
Pension Builder Plus - Rollover IRA | — | — | ||||||
Personal
Variable | — | — | ||||||
Premier Variable | — | — | ||||||
Principal
Freedom Variable Annuity | — | — | ||||||
Principal Freedom Variable Annuity 2 | 210,829 | 24,493 | ||||||
The
Principal Variable Annuity | 135,148 | 25,761 | ||||||
The Principal Variable Annuity with Purchase Payment Credit Rider | 40 | 39 | ||||||
Principal
Investment Plus Variable Annuity | 3,454,139 | 630,466 | ||||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 739,394 | 106,143 | ||||||
Principal
Lifetime Income Solutions | — | — | ||||||
Accumulation unit value: | ||||||||
Bankers
Flexible Annuity | $ | — | $ | — | ||||
Pension Builder Plus | — | — | ||||||
Pension
Builder Plus - Rollover IRA | — | — | ||||||
Personal Variable | — | — | ||||||
Premier
Variable | — | — | ||||||
Principal Freedom Variable Annuity | — | — | ||||||
Principal
Freedom Variable Annuity 2 | 13.81 | 14.09 | ||||||
The Principal Variable Annuity | 16.17 | 16.80 | ||||||
The
Principal Variable Annuity with Purchase Payment Credit Rider | 15.29 | 15.89 | ||||||
Principal Investment Plus Variable Annuity | 16.16 | 16.79 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 15.28 | 15.88 | ||||||
Principal Lifetime Income Solutions | — | — | ||||||
Annuitized
units outstanding: | ||||||||
Bankers Flexible Annuity | — | — | ||||||
Pension
Builder Plus – Rollover IRA | — | — | ||||||
Annuitized unit value: | ||||||||
Bankers
Flexible Annuity | $ | — | $ | — | ||||
Pension Builder Plus – Rollover IRA | — | — | ||||||
See
accompanying notes. |
SAM | SAM | SAM | SAM | |||||||||||||||||||||||
Principal | SAM | Conservative | Conservative | Flexible | Strategic | |||||||||||||||||||||
LifeTime | Real
Estate | Balanced | Balanced | Growth | Income | Growth | ||||||||||||||||||||
2050 | Securities | Portfolio | Portfolio | Portfolio | Portfolio | Portfolio | ||||||||||||||||||||
Class
1 | Class 1 | Class 1 | Class 1 | Class 1 | Class 1 | Class 1 | ||||||||||||||||||||
Division | Division | Division | Division | Division | Division | Division | ||||||||||||||||||||
$ | 8,353,861 | $ | 72,397,893 | $ | 775,902,638 | $ | 177,876,103 | $ | 89,641,980 | $ | 185,636,430 | $ | 57,654,411 | |||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | 8,353,861 | $ | 72,397,893 | $ | 775,902,638 | $ | 177,876,103 | $ | 89,641,980 | $ | 185,636,430 | $ | 57,654,411 | |||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | 125,507 | 316,450 | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
195,264 | 186,487 | 1,781,850 | 1,721,431 | 1,519,973 | 2,149,923 | 1,045,249 | ||||||||||||||||||||
625,685 | 41,966,026 | 67,867,922 | 18,226,645 | 15,506,277 | 33,322,120 | 10,761,399 | ||||||||||||||||||||
13,712 | 908,119 | 1,567,052 | 350,319 | 427,876 | 732,765 | 38,314 | ||||||||||||||||||||
6,301,969 | 23,366,063 | 623,189,233 | 136,844,914 | 56,621,599 | 124,190,572 | 32,707,571 | ||||||||||||||||||||
1,217,231 | 5,845,691 | 81,180,131 | 20,732,794 | 15,566,255 | 25,241,050 | 13,101,878 | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | 8,353,861 | $ | 72,397,893 | $ | 775,902,638 | $ | 177,876,103 | $ | 89,641,980 | $ | 185,636,430 | $ | 57,654,411 | |||||||||||||
$ | 6,523,263 | $ | 60,195,214 | $ | 575,097,332 | $ | 147,483,870 | $ | 65,733,577 | $ | 167,296,596 | $ | 39,655,763 | |||||||||||||
558,413 | 4,238,752 | 41,872,782 | 13,284,250 | 4,351,552 | 13,530,352 | 2,448,170 | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | 34,159 | 166,508 | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
13,849 | 13,484 | 131,136 | 127,330 | 114,864 | 157,701 | 79,891 | ||||||||||||||||||||
37,061 | 1,058,375 | 5,096,703 | 1,375,692 | 1,195,769 | 2,494,163 | 839,346 | ||||||||||||||||||||
859 | 24,777 | 122,491 | 27,522 | 34,345 | 57,089 | 3,111 | ||||||||||||||||||||
373,429 | 589,562 | 46,819,317 | 10,333,074 | 4,368,166 | 9,299,491 | 2,552,074 | ||||||||||||||||||||
76,287 | 159,567 | 6,348,226 | 1,629,507 | 1,249,978 | 1,967,317 | 1,064,098 | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | 3.67 | 1.90 | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
14.10 | 13.83 | 13.59 | 13.52 | 13.23 | 13.63 | 13.08 | ||||||||||||||||||||
16.88 | 39.65 | 13.32 | 13.25 | 12.97 | 13.36 | 12.82 | ||||||||||||||||||||
15.96 | 36.65 | 12.79 | 12.73 | 12.46 | 12.84 | 12.32 | ||||||||||||||||||||
16.88 | 39.63 | 13.31 | 13.24 | 12.96 | 13.35 | 12.82 | ||||||||||||||||||||
15.96 | 36.64 | 12.79 | 12.72 | 12.45 | 12.83 | 12.31 | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
— | — | — | — | — | — | — |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Assets and Liabilities (continued) | ||||||||
Short-Term | SmallCap | |||||||
Income | Blend | |||||||
Class
1 | Class 1 | |||||||
Division | Division | |||||||
Assets | ||||||||
Investments
in shares of mutual funds, at market | $ | 153,215,845 | $ | 34,644,304 | ||||
Liabilities | — | — | ||||||
Net
assets | $ | 153,215,845 | $ | 34,644,304 | ||||
Net
assets | ||||||||
Applicable to accumulation units: | ||||||||
Bankers Flexible Annuity | $ | — | $ | — | ||||
Pension
Builder Plus | — | — | ||||||
Pension Builder Plus – Rollover IRA | — | — | ||||||
Personal
Variable | — | — | ||||||
Premier Variable | — | 93,709 | ||||||
Principal
Freedom Variable Annuity | 1,873,115 | 3,457,694 | ||||||
Principal Freedom Variable Annuity 2 | 91,365 | 112,539 | ||||||
The
Principal Variable Annuity | 23,341,628 | 29,405,009 | ||||||
The Principal Variable Annuity with Purchase Payment Credit Rider | 543,808 | 288,602 | ||||||
Principal
Investment Plus Variable Annuity | 107,451,938 | 808,311 | ||||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 19,913,991 | 478,440 | ||||||
Principal
Lifetime Income Solutions | — | — | ||||||
Applicable to contracts in annuitization period: | ||||||||
Bankers
Flexible Annuity | — | — | ||||||
Pension Builder Plus – Rollover IRA | — | — | ||||||
Total
net assets | $ | 153,215,845 | $ | 34,644,304 | ||||
Investments
in shares of mutual funds, at cost | $ | 151,185,432 | $ | 21,593,319 | ||||
Shares of mutual fund owned | 59,156,697 | 2,512,277 | ||||||
Accumulation
units outstanding: | ||||||||
Bankers Flexible Annuity | — | — | ||||||
Pension
Builder Plus | — | — | ||||||
Pension Builder Plus - Rollover IRA | — | — | ||||||
Personal
Variable | — | — | ||||||
Premier Variable | — | 45,078 | ||||||
Principal
Freedom Variable Annuity | 158,638 | 133,110 | ||||||
Principal Freedom Variable Annuity 2 | 7,779 | 7,050 | ||||||
The
Principal Variable Annuity | 2,018,056 | 1,468,802 | ||||||
The Principal Variable Annuity with Purchase Payment Credit Rider | 48,480 | 15,596 | ||||||
Principal
Investment Plus Variable Annuity | 9,294,215 | 40,394 | ||||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 1,776,137 | 25,867 | ||||||
Principal
Lifetime Income Solutions | — | — | ||||||
Accumulation unit value: | ||||||||
Bankers
Flexible Annuity | $ | — | $ | — | ||||
Pension Builder Plus | — | — | ||||||
Pension
Builder Plus - Rollover IRA | — | — | ||||||
Personal Variable | — | — | ||||||
Premier
Variable | — | 2.08 | ||||||
Principal Freedom Variable Annuity | 11.81 | 25.98 | ||||||
Principal
Freedom Variable Annuity 2 | 11.75 | 15.96 | ||||||
The Principal Variable Annuity | 11.57 | 20.02 | ||||||
The
Principal Variable Annuity with Purchase Payment Credit Rider | 11.22 | 18.51 | ||||||
Principal Investment Plus Variable Annuity | 11.56 | 20.01 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 11.21 | 18.50 | ||||||
Principal Lifetime Income Solutions | — | — | ||||||
Annuitized
units outstanding: | ||||||||
Bankers Flexible Annuity | — | — | ||||||
Pension
Builder Plus – Rollover IRA | — | — | ||||||
Annuitized unit value: | ||||||||
Bankers
Flexible Annuity | $ | — | $ | — | ||||
Pension Builder Plus – Rollover IRA | — | — | ||||||
See
accompanying notes. |
Van
Eck | ||||||||||||||||||||||
T. Rowe Price | T. Rowe Price | Templeton | Global | |||||||||||||||||||
SmallCap | SmallCap | Blue
Chip | Health | Growth | Hard Assets | |||||||||||||||||
Growth II | Value I | Growth | Sciences | Securities | Service | |||||||||||||||||
Class
1 | Class 1 | Portfolio II | Portfolio II | Class 2 | Class | |||||||||||||||||
Division | Division | Division | Division | Division | Division | |||||||||||||||||
$ | 33,879,548 | $ | 83,431,804 | $ | 11,456,244 | $ | 21,392,561 | $ | 1,071,086 | $ | 8,885,166 | |||||||||||
— | — | — | — | — | — | |||||||||||||||||
$ | 33,879,548 | $ | 83,431,804 | $ | 11,456,244 | $ | 21,392,561 | $ | 1,071,086 | $ | 8,885,166 | |||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||
— | — | — | — | — | — | |||||||||||||||||
— | — | — | — | — | — | |||||||||||||||||
— | — | — | — | — | — | |||||||||||||||||
158,552 | 351,675 | — | — | — | — | |||||||||||||||||
944,133 | — | — | — | 1,071,086 | — | |||||||||||||||||
45,455 | 212,936 | — | — | — | — | |||||||||||||||||
21,379,568 | 32,739,736 | — | — | — | 2,305,663 | |||||||||||||||||
184,656 | 422,664 | — | — | — | 19,008 | |||||||||||||||||
9,192,390 | 41,214,751 | 9,755,482 | 17,024,351 | — | 5,523,673 | |||||||||||||||||
1,974,794 | 8,490,042 | 1,700,762 | 4,368,210 | — | 1,036,822 | |||||||||||||||||
— | — | — | — | — | — | |||||||||||||||||
— | — | — | — | — | — | |||||||||||||||||
— | — | — | — | — | — | |||||||||||||||||
$ | 33,879,548 | $ | 83,431,804 | $ | 11,456,244 | $ | 21,392,561 | $ | 1,071,086 | $ | 8,885,166 | |||||||||||
$ | 21,738,841 | $ | 47,795,310 | $ | 7,392,234 | $ | 14,416,736 | $ | 819,443 | $ | 9,073,654 | |||||||||||
1,850,330 | 3,837,709 | 617,587 | 717,871 | 70,327 | 290,840 | |||||||||||||||||
— | — | — | — | — | — | |||||||||||||||||
— | — | — | — | — | — | |||||||||||||||||
— | — | — | — | — | — | |||||||||||||||||
— | — | — | — | — | — | |||||||||||||||||
121,181 | 121,670 | — | — | — | — | |||||||||||||||||
61,236 | — | — | — | 48,820 | — | |||||||||||||||||
2,881 | 14,180 | — | — | — | — | |||||||||||||||||
1,281,085 | 928,629 | — | — | — | 150,968 | |||||||||||||||||
11,971 | 12,970 | — | — | — | 1,280 | |||||||||||||||||
551,072 | 1,169,491 | 477,519 | 496,684 | — | 361,828 | |||||||||||||||||
128,081 | 260,625 | 88,065 | 134,811 | — | 69,831 | |||||||||||||||||
— | — | — | — | — | — | |||||||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||
— | — | — | — | — | — | |||||||||||||||||
— | — | — | — | — | — | |||||||||||||||||
— | — | — | — | — | — | |||||||||||||||||
1.31 | 2.89 | — | — | — | — | |||||||||||||||||
15.42 | — | — | — | 21.94 | — | |||||||||||||||||
15.78 | 15.02 | — | — | — | — | |||||||||||||||||
16.69 | 35.26 | — | — | — | 15.27 | |||||||||||||||||
15.43 | 32.59 | — | — | — | 14.85 | |||||||||||||||||
16.68 | 35.24 | 20.43 | 34.28 | — | 15.27 | |||||||||||||||||
15.42 | 32.58 | 19.31 | 32.40 | — | 14.85 | |||||||||||||||||
— | — | — | — | — | — | |||||||||||||||||
— | — | — | — | — | — | |||||||||||||||||
— | — | — | — | — | — | |||||||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||
— | — | — | — | — | — |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Operations | ||||||||
Year
ended December 31, 2013 | ||||||||
AllianceBernstein | AllianceBernstein | |||||||
Small
Cap | Small/Mid Cap | |||||||
Growth | Value | |||||||
Class A | Class A | |||||||
Division | Division
(1) | |||||||
Investment income (loss) | ||||||||
Income: | ||||||||
Dividends | $ | — | $ | 1,067 | ||||
Expenses: | ||||||||
Mortality
and expense risks | 62,911 | 3,224 | ||||||
Administrative charges | 3,526 | 318 | ||||||
Separate
account rider charges | 7,648 | 308 | ||||||
Net investment income (loss) | (74,085) | (2,783) | ||||||
Realized
gains (losses) on investments | ||||||||
Realized gains (losses) on sale of fund shares | 168,000 | 764 | ||||||
Capital
gains distributions | 771,697 | 9,902 | ||||||
Total realized gains (losses) on investments | 939,697 | 10,666 | ||||||
Change
in net unrealized appreciation or depreciation of | ||||||||
investments | 953,491 | 65,455 | ||||||
Net
gains (losses) on investments | 1,819,103 | 73,338 | ||||||
Payment
from affiliate | — | — | ||||||
Net
increase (decrease) in net assets resulting from operations | $ | 1,819,103 | $ | 73,338 | ||||
(1) Commenced
operations May 20, 2013. | ||||||||
See
accompanying notes. | ||||||||
American | American | American | ||||||||||||||||||||||||
Century
VP | Century VP | Century VP | American | American | American | American | ||||||||||||||||||||
Income
& | Inflation | MidCap | Century VP | Century VP | Century VP | Century VP | ||||||||||||||||||||
Growth | Protection | Value | Ultra | Ultra | Value | Vista | ||||||||||||||||||||
Class
I | Class II | Class II | Class I | Class II | Class II | Class I | ||||||||||||||||||||
Division | Division | Division | Division | Division | Division | Division | ||||||||||||||||||||
$ | 307,135 | $ | 1,326,390 | $ | 33,944 | $ | 21,550 | $ | 240,984 | $ | 293,062 | $ | — | |||||||||||||
162,706 | 1,026,323 | 39,967 | 48,168 | 706,417 | 246,787 | 32,593 | ||||||||||||||||||||
2,353 | 48,672 | 1,621 | 830 | 35,075 | 4,092 | 1,699 | ||||||||||||||||||||
2,200 | 95,640 | 2,194 | 1,029 | 74,551 | 7,203 | 4,420 | ||||||||||||||||||||
139,876 | 155,755 | (9,838) | (28,477) | (575,059) | 34,980 | (38,712) | ||||||||||||||||||||
566,865 | 1,350,225 | 186,084 | 296,679 | 4,590,171 | 109,311 | 112,367 | ||||||||||||||||||||
— | 2,986,444 | 44,564 | — | — | — | — | ||||||||||||||||||||
566,865 | 4,336,669 | 230,648 | 296,679 | 4,590,171 | 109,311 | 112,367 | ||||||||||||||||||||
3,377,547 | (12,950,643) | 548,170 | 900,103 | 12,826,675 | 4,970,892 | 568,574 | ||||||||||||||||||||
4,084,288 | (8,458,219) | 768,980 | 1,168,305 | 16,841,787 | 5,115,183 | 642,229 | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | 4,084,288 | $ | (8,458,219) | $ | 768,980 | $ | 1,168,305 | $ | 16,841,787 | $ | 5,115,183 | $ | 642,229 |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Operations (continued) | ||||||||
Year
ended December 31, 2013 | ||||||||
Bond
& | ||||||||
Mortgage | ||||||||
Balanced | Securities | |||||||
Class 1 | Class
1 | |||||||
Division | Division | |||||||
Investment income (loss) | ||||||||
Income: | ||||||||
Dividends | $ | 643,034 | $ | 7,082,507 | ||||
Expenses: | ||||||||
Mortality
and expense risks | 428,368 | 2,640,380 | ||||||
Administrative charges | 6,846 | 86,102 | ||||||
Separate
account rider charges | 3,303 | 159,233 | ||||||
Net investment income (loss) | 204,517 | 4,196,792 | ||||||
Realized
gains (losses) on investments | ||||||||
Realized gains (losses) on sale of fund shares | 840,371 | (797,542) | ||||||
Capital
gains distributions | — | — | ||||||
Total realized gains (losses) on investments | 840,371 | (797,542) | ||||||
Change
in net unrealized appreciation or depreciation of | ||||||||
investments | 4,978,572 | (8,309,052) | ||||||
Net
gains (losses) on investments | 6,023,460 | (4,909,802) | ||||||
Payment
from affiliate | — | — | ||||||
Net
increase (decrease) in net assets resulting from operations | $ | 6,023,460 | $ | (4,909,802) | ||||
(1) Commenced
operations May 20, 2013. | ||||||||
(2) Commenced operations December 2, 2013. | ||||||||
See
accompanying notes. |
Diversified | Diversified | |||||||||||||||||||||||||
Delaware | Balanced | Growth | ||||||||||||||||||||||||
Small
Cap | Diversified | Managed | Diversified | Managed | Diversified | Diversified | ||||||||||||||||||||
Value | Balanced | Volatility | Growth | Volatility | Income | International | ||||||||||||||||||||
Service
Class | Class 2 | Class 2 | Class 2 | Class 2 | Class 2 | Class 1 | ||||||||||||||||||||
Division
(1) | Division | Division (2) | Division | Division (2) | Division | Division | ||||||||||||||||||||
$ | — | $ | 2,454,104 | $ | — | $ | 7,696,695 | $ | — | $ | 92,208 | $ | 5,119,533 | |||||||||||||
724 | 9,072,446 | 395 | 20,894,385 | 1,399 | 1,022,195 | 2,221,359 | ||||||||||||||||||||
76 | 504,813 | 47 | 1,238,726 | 168 | 60,968 | 60,271 | ||||||||||||||||||||
142 | 329,400 | — | 700,409 | 57 | 37,191 | 96,989 | ||||||||||||||||||||
(942) | (7,452,555) | (442) | (15,136,825) | (1,624) | (1,028,146) | 2,740,914 | ||||||||||||||||||||
129 | 4,210,131 | 2 | 2,364,561 | 1,546 | 883,672 | (3,372,412) | ||||||||||||||||||||
— | 9,062,571 | — | 15,426,166 | — | 46,498 | — | ||||||||||||||||||||
129 | 13,272,702 | 2 | 17,790,727 | 1,546 | 930,170 | (3,372,412) | ||||||||||||||||||||
18,467 | 71,783,424 | 7,207 | 248,211,765 | 46,239 | 5,186,608 | 29,465,643 | ||||||||||||||||||||
17,654 | 77,603,571 | 6,767 | 250,865,667 | 46,161 | 5,088,632 | 28,834,145 | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | 17,654 | $ | 77,603,571 | $ | 6,767 | $ | 250,865,667 | $ | 46,161 | $ | 5,088,632 | $ | 28,834,145 |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Operations (continued) | ||||||||
Year
ended December 31, 2013 | ||||||||
Dreyfus
IP | DWS | |||||||
Technology | Small Mid | |||||||
Growth | Cap Value | |||||||
Service
Shares | Class B | |||||||
Division | Division (1) | |||||||
Investment income (loss) | ||||||||
Income: | ||||||||
Dividends | $ | — | $ | — | ||||
Expenses: | ||||||||
Mortality
and expense risks | 46,089 | 477 | ||||||
Administrative charges | 2,505 | 50 | ||||||
Separate
account rider charges | 4,714 | 51 | ||||||
Net investment income (loss) | (53,308) | (578) | ||||||
Realized
gains (losses) on investments | ||||||||
Realized gains (losses) on sale of fund shares | 167,341 | (5) | ||||||
Capital
gains distributions | — | — | ||||||
Total realized gains (losses) on investments | 167,341 | (5) | ||||||
Change
in net unrealized appreciation or depreciation of | ||||||||
investments | 901,028 | 13,077 | ||||||
Net
gains (losses) on investments | 1,015,061 | 12,494 | ||||||
Payment
from affiliate | — | — | ||||||
Net
increase (decrease) in net assets resulting from operations | $ | 1,015,061 | $ | 12,494 | ||||
(1) Commenced
operations May 20, 2013. | ||||||||
See
accompanying notes. | ||||||||
Fidelity
VIP | Fidelity VIP | Fidelity VIP | Fidelity VIP | Fidelity VIP | Fidelity VIP | |||||||||||||||||||||
Equity | Contrafund | Contrafund | Equity-Income | Growth | Growth | Mid
Cap | ||||||||||||||||||||
Income | Service | Service | Service | Service | Service | Service | ||||||||||||||||||||
Class
1 | Class | Class 2 | Class 2 | Class | Class 2 | Class 2 | ||||||||||||||||||||
Division | Division | Division | Division | Division | Division | Division | ||||||||||||||||||||
$ | 9,025,938 | $ | 455,628 | $ | 430,259 | $ | 853,078 | $ | 28,385 | $ | 3,435 | $ | 37,518 | |||||||||||||
3,676,176 | 613,639 | 664,811 | 488,431 | 192,677 | 93,213 | 157,393 | ||||||||||||||||||||
157,354 | 10,359 | 34,238 | 12,806 | 3,347 | 4,971 | 8,613 | ||||||||||||||||||||
292,292 | 7,027 | 54,400 | 21,504 | 1,445 | 13,285 | 12,540 | ||||||||||||||||||||
4,900,116 | (175,397) | (323,190) | 330,337 | (169,084) | (108,034) | (141,028) | ||||||||||||||||||||
5,435,449 | 1,483,384 | 520,355 | (61,046) | 447,115 | 302,431 | 424,433 | ||||||||||||||||||||
— | 13,357 | 15,067 | 2,521,423 | 10,242 | 5,227 | 1,782,474 | ||||||||||||||||||||
5,435,449 | 1,496,741 | 535,422 | 2,460,377 | 457,357 | 307,658 | 2,206,907 | ||||||||||||||||||||
56,391,519 | 11,345,847 | 13,331,309 | 6,221,646 | 4,285,177 | 1,986,013 | 1,625,887 | ||||||||||||||||||||
66,727,084 | 12,667,191 | 13,543,541 | 9,012,360 | 4,573,450 | 2,185,637 | 3,691,766 | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | 66,727,084 | $ | 12,667,191 | $ | 13,543,541 | $ | 9,012,360 | $ | 4,573,450 | $ | 2,185,637 | $ | 3,691,766 |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Operations (continued) | ||||||||
Year
ended December 31, 2013 | ||||||||
Fidelity
VIP | Franklin | |||||||
Overseas | Small Cap | |||||||
Service | Value Securities | |||||||
Class
2 | Class 2 | |||||||
Division | Division | |||||||
Investment income (loss) | ||||||||
Income: | ||||||||
Dividends | $ | 496,547 | $ | 30,767 | ||||
Expenses: | ||||||||
Mortality
and expense risks | 565,494 | 31,789 | ||||||
Administrative charges | 28,583 | 1,774 | ||||||
Separate
account rider charges | 64,716 | 2,024 | ||||||
Net investment income (loss) | (162,246) | (4,820) | ||||||
Realized
gains (losses) on investments | ||||||||
Realized gains (losses) on sale of fund shares | (1,160,927) | 199,684 | ||||||
Capital
gains distributions | 160,710 | 39,706 | ||||||
Total realized gains (losses) on investments | (1,000,217) | 239,390 | ||||||
Change
in net unrealized appreciation or depreciation of | ||||||||
investments | 12,489,974 | 515,433 | ||||||
Net
gains (losses) on investments | 11,327,511 | 750,003 | ||||||
Payment
from affiliate | — | — | ||||||
Net
increase (decrease) in net assets resulting from operations | $ | 11,327,511 | $ | 750,003 | ||||
(1) Represented
the operations of Invesco Van Kampen American Franchise Series I Division until May 20, 2013. | ||||||||
See accompanying notes. | ||||||||
Goldman
Sachs | Goldman Sachs | Government | ||||||||||||||||||||||||
VIT Mid Cap | VIT
Structured | & High | International | Invesco | Invesco | |||||||||||||||||||||
Value | Small
Cap | Quality | Emerging | American | Invesco | Global | ||||||||||||||||||||
Service | Equity
Service | Bond | Markets | Franchise | Core Equity | Health Care | ||||||||||||||||||||
Class I | Class
I | Class 1 | Class 1 | Series I | Series I | Series I | ||||||||||||||||||||
Division | Division | Division | Division | Division
(1) | Division | Division | ||||||||||||||||||||
$ | 141,371 | $ | 65,139 | $ | 6,823,232 | $ | 1,844,242 | $ | 19,899 | $ | 310,402 | $ | 65,231 | |||||||||||||
211,823 | 82,117 | 2,187,337 | 975,847 | 58,358 | 289,748 | 116,782 | ||||||||||||||||||||
10,809 | 4,302 | 62,057 | 32,396 | 1,008 | 4,830 | 2,080 | ||||||||||||||||||||
27,231 | 9,058 | 101,858 | 62,414 | 213 | 939 | 1,715 | ||||||||||||||||||||
(108,492) | (30,338) | 4,471,980 | 773,585 | (39,680) | 14,885 | (55,346) | ||||||||||||||||||||
422,757 | 554,269 | 304,154 | (786,418) | 114,082 | 1,222,944 | 803,614 | ||||||||||||||||||||
1,364,067 | 822,223 | — | — | — | — | — | ||||||||||||||||||||
1,786,824 | 1,376,492 | 304,154 | (786,418) | 114,082 | 1,222,944 | 803,614 | ||||||||||||||||||||
2,866,707 | 545,201 | (9,029,643) | (4,916,429) | 1,455,481 | 4,405,622 | 2,224,613 | ||||||||||||||||||||
4,545,039 | 1,891,355 | (4,253,509) | (4,929,262) | 1,529,883 | 5,643,451 | 2,972,881 | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | 4,545,039 | $ | 1,891,355 | $ | (4,253,509) | $ | (4,929,262) | $ | 1,529,883 | $ | 5,643,451 | $ | 2,972,881 |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Operations (continued) | ||||||||
Year
ended December 31, 2013 | ||||||||
Invesco | Invesco | |||||||
International | MidCap | |||||||
Growth | Growth | |||||||
Series
I | Series I | |||||||
Division | Division (1) | |||||||
Investment income (loss) | ||||||||
Income: | ||||||||
Dividends | $ | 106,808 | $ | 5,832 | ||||
Expenses: | ||||||||
Mortality
and expense risks | 98,185 | 18,678 | ||||||
Administrative charges | 5,227 | 322 | ||||||
Separate
account rider charges | 4,360 | 904 | ||||||
Net investment income (loss) | (964) | (14,072) | ||||||
Realized
gains (losses) on investments | ||||||||
Realized gains (losses) on sale of fund shares | 163,042 | (120,251) | ||||||
Capital
gains distributions | — | — | ||||||
Total realized gains (losses) on investments | 163,042 | (120,251) | ||||||
Change
in net unrealized appreciation or depreciation of | ||||||||
investments | 1,131,331 | 589,044 | ||||||
Net
gains (losses) on investments | 1,293,409 | 454,721 | ||||||
Payment
from affiliate | — | — | ||||||
Net
increase (decrease) in net assets resulting from operations | $ | 1,293,409 | $ | 454,721 | ||||
(1) Represented
the operations of Invesco Van Kampen MidCap Growth Series I Division until May 20, 2013. | ||||||||
(2) Represented the operations of Invesco Van Kampen Value Opportunities Series I Division until May 20, 2013. | ||||||||
See
accompanying notes. | ||||||||
Invesco | Invesco | |||||||||||||||||||||||||
Small
Cap | Invesco | Value | Janus Aspen | LargeCap | LargeCap | LargeCap | ||||||||||||||||||||
Equity | Technology | Opportunities | Enterprise | Blend
II | Growth | Growth I | ||||||||||||||||||||
Series I | Series I | Series I | Service Shares | Class
1 | Class 1 | Class 1 | ||||||||||||||||||||
Division | Division | Division (2) | Division | Division | Division | Division | ||||||||||||||||||||
$ | 802 | $ | — | $ | 76,882 | $ | 35,016 | $ | 1,919,155 | $ | 753,811 | $ | 395,976 | |||||||||||||
120,344 | 40,815 | 65,786 | 119,790 | 1,709,799 | 616,766 | 1,300,728 | ||||||||||||||||||||
4,693 | 685 | 3,464 | 2,033 | 66,101 | 16,195 | 28,873 | ||||||||||||||||||||
6,433 | 1,145 | 5,618 | 1,010 | 134,126 | 19,232 | 24,610 | ||||||||||||||||||||
(130,668) | (42,645) | 2,014 | (87,817) | 9,129 | 101,618 | (958,235) | ||||||||||||||||||||
886,207 | 387,924 | 335,007 | 1,023,234 | (1,917,902) | 3,119,062 | 6,524,910 | ||||||||||||||||||||
96,332 | 266,089 | — | — | — | — | 3,113,998 | ||||||||||||||||||||
982,539 | 654,013 | 335,007 | 1,023,234 | (1,917,902) | 3,119,062 | 9,638,908 | ||||||||||||||||||||
2,058,859 | 82,670 | 1,099,438 | 1,599,808 | 37,257,959 | 11,305,021 | 22,384,228 | ||||||||||||||||||||
2,910,730 | 694,038 | 1,436,459 | 2,535,225 | 35,349,186 | 14,525,701 | 31,064,901 | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | 2,910,730 | $ | 694,038 | $ | 1,436,459 | $ | 2,535,225 | $ | 35,349,186 | $ | 14,525,701 | $ | 31,064,901 |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Operations (continued) | ||||||||
Year
ended December 31, 2013 | ||||||||
LargeCap | ||||||||
S&P
500 | LargeCap | |||||||
Index | Value | |||||||
Class 1 | Class 1 | |||||||
Division | Division | |||||||
Investment
income (loss) | ||||||||
Income: | ||||||||
Dividends | $ | 1,161,376 | $ | 2,319,601 | ||||
Expenses: | ||||||||
Mortality
and expense risks | 1,147,938 | 1,078,122 | ||||||
Administrative charges | 34,302 | 24,404 | ||||||
Separate
account rider charges | 48,225 | 31,684 | ||||||
Net investment income (loss) | (69,089) | 1,185,391 | ||||||
Realized
gains (losses) on investments | ||||||||
Realized gains (losses) on sale of fund shares | 3,777,203 | 1,162,324 | ||||||
Capital
gains distributions | 741,254 | — | ||||||
Total realized gains (losses) on investments | 4,518,457 | 1,162,324 | ||||||
Change
in net unrealized appreciation or depreciation of | ||||||||
investments | 20,455,869 | 20,967,543 | ||||||
Net
gains (losses) on investments | 24,905,237 | 23,315,258 | ||||||
Payment
from affiliate | — | — | ||||||
Net
increase (decrease) in net assets resulting from operations | $ | 24,905,237 | $ | 23,315,258 | ||||
(1) Commenced
operations May 20, 2013. | ||||||||
(2) Represented the operations of MidCap Blend Class 1 Division until May 20, 2013. | ||||||||
See
accompanying notes. | ||||||||
Neuberger | Neuberger | |||||||||||||||||||||||||
Berman
AMT | Berman AMT | |||||||||||||||||||||||||
MFS VIT | MFS VIT | MFS VIT | Money | Large
Cap | Small-Cap | |||||||||||||||||||||
New Discovery | Utilities | Value | MidCap | Market | Value | Growth | ||||||||||||||||||||
Service
Class | Service Class | Service Class | Class 1 | Class 1 | I Class | S Class | ||||||||||||||||||||
Division
(1) | Division | Division | Division (2) | Division | Division | Division | ||||||||||||||||||||
$ | — | $ | 147,148 | $ | 41,963 | $ | 5,711,868 | $ | 23 | $ | 59,156 | $ | — | |||||||||||||
1,754 | 89,441 | 46,466 | 4,839,091 | 832,502 | 66,974 | 42,829 | ||||||||||||||||||||
145 | 4,679 | 2,705 | 144,980 | 25,783 | 3,320 | 2,296 | ||||||||||||||||||||
164 | 6,733 | 4,012 | 202,295 | 40,724 | 7,178 | 6,012 | ||||||||||||||||||||
(2,063) | 46,295 | (11,220) | 525,502 | (898,986) | (18,316) | (51,137) | ||||||||||||||||||||
1,983 | 312,351 | 242,697 | 23,144,674 | — | 368,928 | 402,088 | ||||||||||||||||||||
985 | 130,941 | 12,877 | 18,214,847 | — | — | — | ||||||||||||||||||||
2,968 | 443,292 | 255,574 | 41,359,521 | — | 368,928 | 402,088 | ||||||||||||||||||||
42,211 | 632,778 | 755,665 | 67,513,872 | — | 1,032,904 | 890,343 | ||||||||||||||||||||
43,116 | 1,122,365 | 1,000,019 | 109,398,895 | (898,986) | 1,383,516 | 1,241,294 | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | 43,116 | $ | 1,122,365 | $ | 1,000,019 | $ | 109,398,895 | $ | (898,986) | $ | 1,383,516 | $ | 1,241,294 |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Operations (continued) | ||||||||
Year
ended December 31, 2013 | ||||||||
Neuberger | ||||||||
Berman
AMT | Oppenheimer | |||||||
Socially | Main Street | |||||||
Responsive | Small Cap | |||||||
I
Class | Service Shares | |||||||
Division | Division (1) | |||||||
Investment income (loss) | ||||||||
Income: | ||||||||
Dividends | $ | 48,903 | $ | 71 | ||||
Expenses: | ||||||||
Mortality
and expense risks | 90,050 | 1,245 | ||||||
Administrative charges | 4,636 | 47 | ||||||
Separate
account rider charges | 7,539 | 2 | ||||||
Net investment income (loss) | (53,322) | (1,223) | ||||||
Realized
gains (losses) on investments | ||||||||
Realized gains (losses) on sale of fund shares | 902,466 | 2,078 | ||||||
Capital
gains distributions | — | 123 | ||||||
Total realized gains (losses) on investments | 902,466 | 2,201 | ||||||
Change
in net unrealized appreciation or depreciation of | ||||||||
investments | 1,328,000 | 22,922 | ||||||
Net
gains (losses) on investments | 2,177,144 | 23,900 | ||||||
Payment
from affiliate | — | — | ||||||
Net
increase (decrease) in net assets resulting from operations | $ | 2,177,144 | $ | 23,900 | ||||
(1) Commenced
operations May 20, 2013. | ||||||||
See
accompanying notes. | ||||||||
Principal | ||||||||||||||||||||||||||
PIMCO | PIMCO | PIMCO | Principal | LifeTime | Principal | Principal | ||||||||||||||||||||
All
Asset | High Yield | Total Return | Capital | Strategic | LifeTime | LifeTime | ||||||||||||||||||||
Administrative | Administrative | Administrative | Appreciation | Income | 2010 | 2020 | ||||||||||||||||||||
Class | Class | Class | Class
1 | Class 1 | Class 1 | Class 1 | ||||||||||||||||||||
Division | Division | Division | Division | Division | Division | Division | ||||||||||||||||||||
$ | 245,463 | $ | 872,473 | $ | 802,773 | $ | 952,544 | $ | 682,461 | $ | 891,975 | $ | 3,726,816 | |||||||||||||
68,836 | 199,599 | 460,793 | 174,765 | 312,323 | 461,982 | 2,169,923 | ||||||||||||||||||||
3,012 | 8,554 | 20,276 | 9,573 | 13,465 | 21,028 | 103,613 | ||||||||||||||||||||
5,863 | 16,689 | 25,044 | 15,149 | 17,695 | 26,335 | 215,498 | ||||||||||||||||||||
167,752 | 647,631 | 296,660 | 753,057 | 338,978 | 382,630 | 1,237,782 | ||||||||||||||||||||
66,220 | 390,539 | (33,561) | 305,209 | (13,705) | 4,592 | 719,851 | ||||||||||||||||||||
— | — | 271,861 | 2,242,752 | — | — | — | ||||||||||||||||||||
66,220 | 390,539 | 238,300 | 2,547,961 | (13,705) | 4,592 | 719,851 | ||||||||||||||||||||
(354,729) | (644,617) | (1,931,417) | 407,023 | 558,681 | 2,957,518 | 21,489,175 | ||||||||||||||||||||
(120,757) | 393,553 | (1,396,457) | 3,708,041 | 883,954 | 3,344,740 | 23,446,808 | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | (120,757) | $ | 393,553 | $ | (1,396,457) | $ | 3,708,041 | $ | 883,954 | $ | 3,344,740 | $ | 23,446,808 |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Operations (continued) | ||||||||
Year
ended December 31, 2013 | ||||||||
Principal | Principal | |||||||
LifeTime | LifeTime | |||||||
2030 | 2040 | |||||||
Class
1 | Class 1 | |||||||
Division | Division | |||||||
Investment income (loss) | ||||||||
Income: | ||||||||
Dividends | $ | 1,336,672 | $ | 198,883 | ||||
Expenses: | ||||||||
Mortality
and expense risks | 853,299 | 156,635 | ||||||
Administrative charges | 41,583 | 7,781 | ||||||
Separate
account rider charges | 64,963 | 10,530 | ||||||
Net investment income (loss) | 376,827 | 23,937 | ||||||
Realized
gains (losses) on investments | ||||||||
Realized gains (losses) on sale of fund shares | 924,780 | 158,490 | ||||||
Capital
gains distributions | 338,414 | — | ||||||
Total realized gains (losses) on investments | 1,263,194 | 158,490 | ||||||
Change
in net unrealized appreciation or depreciation of | ||||||||
investments | 9,357,480 | 2,183,099 | ||||||
Net
gains (losses) on investments | 10,997,501 | 2,365,526 | ||||||
Payment
from affiliate | — | — | ||||||
Net
increase (decrease) in net assets resulting from operations | $ | 10,997,501 | $ | 2,365,526 | ||||
See
accompanying notes. | ||||||||
SAM | SAM | SAM | SAM | |||||||||||||||||||||||
Principal | SAM | Conservative | Conservative | Flexible | Strategic | |||||||||||||||||||||
LifeTime | Real
Estate | Balanced | Balanced | Growth | Income | Growth | ||||||||||||||||||||
2050 | Securities | Portfolio | Portfolio | Portfolio | Portfolio | Portfolio | ||||||||||||||||||||
Class
1 | Class 1 | Class 1 | Class 1 | Class 1 | Class 1 | Class 1 | ||||||||||||||||||||
Division | Division | Division | Division | Division | Division | Division | ||||||||||||||||||||
$ | 116,785 | $ | 998,394 | $ | 18,361,257 | $ | 4,944,638 | $ | 1,429,712 | $ | 6,474,168 | $ | 725,559 | |||||||||||||
91,353 | 976,394 | 9,385,574 | 2,146,344 | 968,718 | 2,350,952 | 626,055 | ||||||||||||||||||||
4,550 | 27,848 | 452,716 | 100,867 | 45,061 | 99,938 | 29,404 | ||||||||||||||||||||
7,477 | 50,916 | 490,092 | 131,975 | 85,666 | 161,572 | 67,100 | ||||||||||||||||||||
13,405 | (56,764) | 8,032,875 | 2,565,452 | 330,267 | 3,861,706 | 3,000 | ||||||||||||||||||||
44,470 | 1,306,500 | 15,276,759 | 5,956,939 | 2,286,381 | 7,806,237 | 1,108,086 | ||||||||||||||||||||
— | — | 8,948,529 | 1,768,404 | — | 2,436,903 | — | ||||||||||||||||||||
44,470 | 1,306,500 | 24,225,288 | 7,725,343 | 2,286,381 | 10,243,140 | 1,108,086 | ||||||||||||||||||||
1,416,208 | 894,250 | 79,238,189 | 6,022,942 | 12,434,806 | (2,827,391) | 10,293,258 | ||||||||||||||||||||
1,474,083 | 2,143,986 | 111,496,352 | 16,313,737 | 15,051,454 | 11,277,455 | 11,404,344 | ||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||
$ | 1,474,083 | $ | 2,143,986 | $ | 111,496,352 | $ | 16,313,737 | $ | 15,051,454 | $ | 11,277,455 | $ | 11,404,344 |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Operations (continued) | ||||||||
Year
ended December 31, 2013 | ||||||||
Short-Term | SmallCap | |||||||
Income | Blend | |||||||
Class
1 | Class 1 | |||||||
Division | Division | |||||||
Investment income (loss) | ||||||||
Income: | ||||||||
Dividends | $ | 2,999,080 | $ | 100,622 | ||||
Expenses: | ||||||||
Mortality
and expense risks | 1,991,975 | 369,597 | ||||||
Administrative charges | 85,799 | 6,555 | ||||||
Separate
account rider charges | 143,504 | 4,725 | ||||||
Net investment income (loss) | 777,802 | (280,255) | ||||||
Realized
gains (losses) on investments | ||||||||
Realized gains (losses) on sale of fund shares | 1,251,473 | 1,474,158 | ||||||
Capital
gains distributions | — | — | ||||||
Total realized gains (losses) on investments | 1,251,473 | 1,474,158 | ||||||
Change
in net unrealized appreciation or depreciation of | ||||||||
investments | (2,420,046) | 10,375,393 | ||||||
Net
gains (losses) on investments | (390,771) | 11,569,296 | ||||||
Payment
from affiliate | — | — | ||||||
Net
increase (decrease) in net assets resulting from operations | $ | (390,771) | $ | 11,569,296 | ||||
See
accompanying notes. | ||||||||
Van
Eck | ||||||||||||||||||||||
T. Rowe Price | T. Rowe Price | Templeton | Global | |||||||||||||||||||
SmallCap | SmallCap | Blue
Chip | Health | Growth | Hard Assets | |||||||||||||||||
Growth II | Value I | Growth | Sciences | Securities | Service | |||||||||||||||||
Class
1 | Class 1 | Portfolio II | Portfolio II | Class 2 | Class | |||||||||||||||||
Division | Division | Division | Division | Division | Division | |||||||||||||||||
$ | — | $ | 851,948 | $ | — | $ | — | $ | 27,083 | $ | 40,372 | |||||||||||
367,892 | 1,013,647 | 119,874 | 212,403 | 8,708 | 102,085 | |||||||||||||||||
10,830 | 37,733 | 6,556 | 12,360 | — | 4,422 | |||||||||||||||||
13,155 | 64,182 | 7,986 | 21,453 | — | 6,117 | |||||||||||||||||
(391,877) | (263,614) | (134,416) | (246,216) | 18,375 | (72,252) | |||||||||||||||||
1,265,464 | 3,523,697 | 742,074 | 1,580,886 | 17,674 | (573,782) | |||||||||||||||||
— | — | — | 859,798 | — | 156,511 | |||||||||||||||||
1,265,464 | 3,523,697 | 742,074 | 2,440,684 | 17,674 | (417,271) | |||||||||||||||||
10,184,722 | 22,658,070 | 2,585,049 | 4,258,517 | 236,298 | 1,189,309 | |||||||||||||||||
11,058,309 | 25,918,153 | 3,192,707 | 6,452,985 | 272,347 | 699,786 | |||||||||||||||||
— | — | — | — | — | — | |||||||||||||||||
$ | 11,058,309 | $ | 25,918,153 | $ | 3,192,707 | $ | 6,452,985 | $ | 272,347 | $ | 699,786 |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Changes
in Net Assets | ||||||||
Years ended December 31, 2013 and 2012, except as noted | ||||||||
AllianceBernstein | ||||||||
Small
Cap | ||||||||
Growth | ||||||||
Class A | ||||||||
Division | ||||||||
2013 | 2012 | |||||||
Increase
(decrease) in net assets | ||||||||
Operations: | ||||||||
Net investment income (loss) | $ | (74,085) | $ | (62,154) | ||||
Total
realized gains (losses) on investments | 939,697 | 559,171 | ||||||
Change in net unrealized appreciation or depreciation of investments | 953,491 | 19,940 | ||||||
Net
gains (losses) from investments | 1,819,103 | 516,957 | ||||||
Payment
from affiliate | — | — | ||||||
Net
increase (decrease) in net assets resulting from operations | 1,819,103 | 516,957 | ||||||
Policy
related transactions: | ||||||||
Purchase payments, less sales charges, per payment fees | ||||||||
and
applicable premium taxes | 1,367,497 | 1,923,650 | ||||||
Administration charges | (697) | (486) | ||||||
Contingent
sales charges | (4,681) | (2,237) | ||||||
Contract terminations | (329,539) | (93,744) | ||||||
Death
benefit payments | — | — | ||||||
Flexible withdrawal option payments | (19,931) | (19,452) | ||||||
Transfers
to other contracts | (796,987) | (2,360,395) | ||||||
Annuity payments | — | — | ||||||
Increase
(decrease) in net assets from policy related transactions | 215,662 | (552,664) | ||||||
Total increase (decrease) | 2,034,765 | (35,707) | ||||||
Net
assets at beginning of period | 4,147,988 | 4,183,695 | ||||||
Net assets at end of period | $ | 6,182,753 | $ | 4,147,988 | ||||
(1) Commenced
operations May 20, 2013. | ||||||||
See
accompanying notes. |
American | American | |||||||||||||||
AllianceBernstein | Century
VP | Century VP | ||||||||||||||
Small/Mid Cap | Income & | Inflation | ||||||||||||||
Value | Growth | Protection | ||||||||||||||
Class
A | Class I | Class II | ||||||||||||||
Division (1) | Division | Division | ||||||||||||||
2013 | 2013 | 2012 | 2013 | 2012 | ||||||||||||
$ | (2,783) | $ | 139,876 | $ | 111,890 | $ | 155,755 | $ | 943,370 | |||||||
10,666 | 566,865 | 125,196 | 4,336,669 | 3,533,562 | ||||||||||||
65,455 | 3,377,547 | 1,459,859 | (12,950,643) | 671,859 | ||||||||||||
73,338 | 4,084,288 | 1,696,945 | (8,458,219) | 5,148,791 | ||||||||||||
— | — | — | — | — | ||||||||||||
73,338 | 4,084,288 | 1,696,945 | (8,458,219) | 5,148,791 | ||||||||||||
1,018,060 | 2,135,473 | 1,703,575 | 25,339,967 | 17,887,469 | ||||||||||||
— | (1,855) | (2,210) | (438,184) | (626,414) | ||||||||||||
(4) | (3,559) | (5,118) | (90,331) | (86,777) | ||||||||||||
(887) | (1,879,657) | (1,795,709) | (6,359,227) | (3,637,068) | ||||||||||||
— | (74,554) | (273,576) | (303,050) | (407,407) | ||||||||||||
(1,324) | (181,392) | (198,916) | (2,108,167) | (2,124,307) | ||||||||||||
(13,851) | (1,838,559) | (1,838,022) | (17,902,858) | (9,764,779) | ||||||||||||
— | — | — | — | — | ||||||||||||
1,001,994 | (1,844,103) | (2,409,976) | (1,861,850) | 1,240,717 | ||||||||||||
1,075,332 | 2,240,185 | (713,031) | (10,320,069) | 6,389,508 | ||||||||||||
— | 12,745,236 | 13,458,267 | 89,160,072 | 82,770,564 | ||||||||||||
$ | 1,075,332 | $ | 14,985,421 | $ | 12,745,236 | $ | 78,840,003 | $ | 89,160,072 |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Changes
in Net Assets (continued) | ||||||||
Years ended December 31, 2013 and 2012, except as noted | ||||||||
American | ||||||||
Century
VP | ||||||||
MidCap | ||||||||
Value | ||||||||
Class II | ||||||||
Division | ||||||||
2013 | 2012 | |||||||
Increase
(decrease) in net assets | ||||||||
Operations: | ||||||||
Net investment income (loss) | $ | (9,838) | $ | 13,063 | ||||
Total
realized gains (losses) on investments | 230,648 | 92,641 | ||||||
Change in net unrealized appreciation or depreciation of investments | 548,170 | 184,917 | ||||||
Net
gains (losses) from investments | 768,980 | 290,621 | ||||||
Payment
from affiliate | — | — | ||||||
Net
increase (decrease) in net assets resulting from operations | 768,980 | 290,621 | ||||||
Policy
related transactions: | ||||||||
Purchase payments, less sales charges, per payment fees | ||||||||
and
applicable premium taxes | 2,001,893 | 1,832,419 | ||||||
Administration charges | (321) | (250) | ||||||
Contingent
sales charges | (3,785) | (896) | ||||||
Contract terminations | (450,282) | (179,701) | ||||||
Death
benefit payments | (5,577) | (2,610) | ||||||
Flexible withdrawal option payments | (19,048) | (9,912) | ||||||
Transfers
to other contracts | (1,069,551) | (1,113,906) | ||||||
Annuity payments | — | — | ||||||
Increase
(decrease) in net assets from policy related transactions | 453,329 | 525,144 | ||||||
Total increase (decrease) | 1,222,309 | 815,765 | ||||||
Net
assets at beginning of period | 2,592,206 | 1,776,441 | ||||||
Net assets at end of period | $ | 3,814,515 | $ | 2,592,206 | ||||
See
accompanying notes. | ||||||||
American | American | American | |||||||||||||||||
Century
VP | Century VP | Century VP | |||||||||||||||||
Ultra | Ultra | Value | |||||||||||||||||
Class I | Class II | Class
II | |||||||||||||||||
Division | Division | Division | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
$ | (28,477) | $ | (54,260) | $ | (575,059) | $ | (789,329) | $ | 34,980 | $ | 76,580 | ||||||||
296,679 | 144,995 | 4,590,171 | 1,157,043 | 109,311 | (935,375) | ||||||||||||||
900,103 | 378,505 | 12,826,675 | 6,537,287 | 4,970,892 | 3,361,937 | ||||||||||||||
1,168,305 | 469,240 | 16,841,787 | 6,905,001 | 5,115,183 | 2,503,142 | ||||||||||||||
— | — | — | — | — | — | ||||||||||||||
1,168,305 | 469,240 | 16,841,787 | 6,905,001 | 5,115,183 | 2,503,142 | ||||||||||||||
511,488 | 1,008,607 | 5,026,808 | 5,647,056 | 2,765,007 | 3,293,141 | ||||||||||||||
(607) | (905) | (347,785) | (486,103) | (3,991) | (5,561) | ||||||||||||||
(1,007) | (2,054) | (64,968) | (61,512) | (6,457) | (8,741) | ||||||||||||||
(513,202) | (686,201) | (4,573,711) | (2,578,131) | (3,291,486) | (2,920,457) | ||||||||||||||
(34,953) | (21,126) | (167,401) | (272,143) | (133,904) | (89,778) | ||||||||||||||
(61,911) | (62,938) | (1,501,761) | (1,439,836) | (215,425) | (224,258) | ||||||||||||||
(684,119) | (982,051) | (16,186,129) | (8,678,782) | (3,389,138) | (4,597,608) | ||||||||||||||
— | — | — | — | — | — | ||||||||||||||
(784,311) | (746,668) | (17,814,947) | (7,869,451) | (4,275,394) | (4,553,262) | ||||||||||||||
383,994 | (277,428) | (973,160) | (964,450) | 839,789 | (2,050,120) | ||||||||||||||
3,715,525 | 3,992,953 | 55,371,648 | 56,336,098 | 18,873,383 | 20,923,503 | ||||||||||||||
$ | 4,099,519 | $ | 3,715,525 | $ | 54,398,488 | $ | 55,371,648 | $ | 19,713,172 | $ | 18,873,383 |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Changes
in Net Assets (continued) | ||||||||
Years ended December 31, 2013 and 2012, except as noted | ||||||||
American | ||||||||
Century
VP | ||||||||
Vista | ||||||||
Class I | ||||||||
Division | ||||||||
2013 | 2012 | |||||||
Increase
(decrease) in net assets | ||||||||
Operations: | ||||||||
Net investment income (loss) | $ | (38,712) | $ | (36,627) | ||||
Total
realized gains (losses) on investments | 112,367 | 61,302 | ||||||
Change in net unrealized appreciation or depreciation of investments | 568,574 | 299,208 | ||||||
Net
gains (losses) from investments | 642,229 | 323,883 | ||||||
Payment
from affiliate | — | — | ||||||
Net
increase (decrease) in net assets resulting from operations | 642,229 | 323,883 | ||||||
Policy
related transactions: | ||||||||
Purchase payments, less sales charges, per payment fees | ||||||||
and
applicable premium taxes | 241,162 | 834,319 | ||||||
Administration charges | (1,678) | (1,971) | ||||||
Contingent
sales charges | (1,746) | (2,575) | ||||||
Contract terminations | (122,896) | (107,921) | ||||||
Death
benefit payments | — | (31,685) | ||||||
Flexible withdrawal option payments | (16,939) | (16,802) | ||||||
Transfers
to other contracts | (310,919) | (986,920) | ||||||
Annuity payments | — | — | ||||||
Increase
(decrease) in net assets from policy related transactions | (213,016) | (313,555) | ||||||
Total increase (decrease) | 429,213 | 10,328 | ||||||
Net
assets at beginning of period | 2,328,447 | 2,318,119 | ||||||
Net assets at end of period | $ | 2,757,660 | $ | 2,328,447 | ||||
(1) Commenced
operations May 20, 2013. | ||||||||
See accompanying notes. |
Bond
& | Delaware | |||||||||||||||
Mortgage | Small Cap | |||||||||||||||
Balanced | Securities | Value | ||||||||||||||
Class
1 | Class 1 | Service Class | ||||||||||||||
Division | Division | Division (1) | ||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | ||||||||||||
$ | 204,517 | $ | 301,372 | $ | 4,196,792 | $ | 5,849,477 | $ | (942) | |||||||
840,371 | 117,601 | (797,542) | (87,378) | 129 | ||||||||||||
4,978,572 | 3,712,405 | (8,309,052) | 8,531,969 | 18,467 | ||||||||||||
6,023,460 | 4,131,378 | (4,909,802) | 14,294,068 | 17,654 | ||||||||||||
— | — | — | — | — | ||||||||||||
6,023,460 | 4,131,378 | (4,909,802) | 14,294,068 | 17,654 | ||||||||||||
2,864,886 | 3,297,805 | 39,895,677 | 44,413,994 | 254,157 | ||||||||||||
(13,980) | (16,994) | (529,368) | (748,025) | — | ||||||||||||
(8,253) | (11,110) | (157,531) | (183,605) | (11) | ||||||||||||
(5,024,275) | (4,131,652) | (25,488,711) | (22,081,199) | (763) | ||||||||||||
(709,236) | (571,032) | (1,190,731) | (1,826,565) | — | ||||||||||||
(625,647) | (669,924) | (4,632,691) | (5,027,970) | (94) | ||||||||||||
(1,867,013) | (2,940,483) | (37,560,967) | (28,298,451) | (8,878) | ||||||||||||
— | — | — | — | — | ||||||||||||
(5,383,518) | (5,043,390) | (29,664,322) | (13,751,821) | 244,411 | ||||||||||||
639,942 | (912,012) | (34,574,124) | 542,247 | 262,065 | ||||||||||||
35,866,728 | 36,778,740 | 236,260,267 | 235,718,020 | — | ||||||||||||
$ | 36,506,670 | $ | 35,866,728 | $ | 201,686,143 | $ | 236,260,267 | $ | 262,065 |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Changes
in Net Assets (continued) | ||||||||
Years ended December 31, 2013 and 2012, except as noted | ||||||||
Diversified | ||||||||
Balanced | ||||||||
Class
2 | ||||||||
Division | ||||||||
2013 | 2012 | |||||||
Increase (decrease) in net assets | ||||||||
Operations: | ||||||||
Net
investment income (loss) | $ | (7,452,555) | $ | (1,417,807) | ||||
Total realized gains (losses) on investments | 13,272,702 | 967,046 | ||||||
Change
in net unrealized appreciation or depreciation of investments | 71,783,424 | 33,770,850 | ||||||
Net gains (losses) from investments | 77,603,571 | 33,320,089 | ||||||
Payment
from affiliate | — | — | ||||||
Net
increase (decrease) in net assets resulting from operations | 77,603,571 | 33,320,089 | ||||||
Policy
related transactions: | ||||||||
Purchase payments, less sales charges, per payment fees | ||||||||
and
applicable premium taxes | 271,823,146 | 253,062,913 | ||||||
Administration charges | (6,857,010) | (5,116,414) | ||||||
Contingent
sales charges | (225,064) | (261,047) | ||||||
Contract terminations | (15,802,606) | (10,944,991) | ||||||
Death
benefit payments | (1,817,652) | (1,044,504) | ||||||
Flexible withdrawal option payments | (7,121,027) | (3,935,173) | ||||||
Transfers
to other contracts | (42,819,384) | (15,184,303) | ||||||
Annuity payments | — | — | ||||||
Increase
(decrease) in net assets from policy related transactions | 197,180,403 | 216,576,481 | ||||||
Total increase (decrease) | 274,783,974 | 249,896,570 | ||||||
Net
assets at beginning of period | 581,719,623 | 331,823,053 | ||||||
Net assets at end of period | $ | 856,503,597 | $ | 581,719,623 | ||||
(1) Commenced
operations December 2, 2013. | ||||||||
See accompanying notes. |
Diversified | Diversified | ||||||||||||
Balanced | Diversified | Growth | |||||||||||
Managed
Volatility | Growth | Managed Volatility | |||||||||||
Class 2 | Class 2 | Class 2 | |||||||||||
Division (1) | Division | Division
(1) | |||||||||||
2013 | 2013 | 2012 | 2013 | ||||||||||
$ | (442) | $ | (15,136,825) | $ | (4,153,572) | $ | (1,624) | ||||||
2 | 17,790,727 | 1,524,608 | 1,546 | ||||||||||
7,207 | 248,211,765 | 91,137,012 | 46,239 | ||||||||||
6,767 | 250,865,667 | 88,508,048 | 46,161 | ||||||||||
— | — | — | — | ||||||||||
6,767 | 250,865,667 | 88,508,048 | 46,161 | ||||||||||
870,582 | 835,748,039 | 451,649,600 | 3,935,060 | ||||||||||
(461) | (15,808,785) | (11,044,949) | (2,022) | ||||||||||
— | (503,201) | (401,138) | — | ||||||||||
— | (35,377,246) | (16,813,330) | — | ||||||||||
— | (3,080,922) | (1,070,536) | — | ||||||||||
— | (10,994,748) | (6,231,910) | — | ||||||||||
(15) | (37,206,902) | (33,413,970) | (249) | ||||||||||
— | — | — | — | ||||||||||
870,106 | 732,776,235 | 382,673,767 | 3,932,789 | ||||||||||
876,873 | 983,641,902 | 471,181,815 | 3,978,950 | ||||||||||
— | 1,218,656,117 | 747,474,302 | — | ||||||||||
$ | 876,873 | $ | 2,202,298,019 | $ | 1,218,656,117 | $ | 3,978,950 |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Changes
in Net Assets (continued) | ||||||||
Years ended December 31, 2013 and 2012, except as noted | ||||||||
Diversified | ||||||||
Income | ||||||||
Class
2 | ||||||||
Division (2) | ||||||||
2013 | 2012 | |||||||
Increase (decrease) in net assets | ||||||||
Operations: | ||||||||
Net
investment income (loss) | $ | (1,028,146) | $ | (138,421) | ||||
Total realized gains (losses) on investments | 930,170 | 12,567 | ||||||
Change
in net unrealized appreciation or depreciation of investments | 5,186,608 | 580,794 | ||||||
Net gains (losses) from investments | 5,088,632 | 454,940 | ||||||
Payment
from affiliate | — | — | ||||||
Net
increase (decrease) in net assets resulting from operations | 5,088,632 | 454,940 | ||||||
Policy
related transactions: | ||||||||
Purchase payments, less sales charges, per payment fees | ||||||||
and
applicable premium taxes | 81,818,875 | 58,722,517 | ||||||
Administration charges | (773,702) | (146,547) | ||||||
Contingent
sales charges | (48,957) | (18,006) | ||||||
Contract terminations | (3,446,527) | (754,701) | ||||||
Death
benefit payments | (24,240) | (12,650) | ||||||
Flexible withdrawal option payments | (835,855) | (113,025) | ||||||
Transfers
to other contracts | (24,488,064) | (3,342,008) | ||||||
Annuity payments | — | — | ||||||
Increase
(decrease) in net assets from policy related transactions | 52,201,530 | 54,335,580 | ||||||
Total increase (decrease) | 57,290,162 | 54,790,520 | ||||||
Net
assets at beginning of period | 54,790,520 | — | ||||||
Net assets at end of period | $ | 112,080,682 | $ | 54,790,520 | ||||
(1) Commenced
operations May 20, 2013. | ||||||||
(2) Commenced operations May 21, 2012. | ||||||||
See
accompanying notes. |
Dreyfus
IP | DWS | |||||||||||||||
Diversified | Technology | Small Mid | ||||||||||||||
International | Growth | Cap Value | ||||||||||||||
Class
1 | Service Shares | Class B | ||||||||||||||
Division | Division | Division (1) | ||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | ||||||||||||
$ | 2,740,914 | $ | 1,452,145 | $ | (53,308) | $ | (44,122) | $ | (578) | |||||||
(3,372,412) | (8,466,311) | 167,341 | 182,268 | (5) | ||||||||||||
29,465,643 | 35,690,556 | 901,028 | 189,626 | 13,077 | ||||||||||||
28,834,145 | 28,676,390 | 1,015,061 | 327,772 | 12,494 | ||||||||||||
— | — | — | — | — | ||||||||||||
28,834,145 | 28,676,390 | 1,015,061 | 327,772 | 12,494 | ||||||||||||
16,841,519 | 21,533,398 | 1,364,853 | 1,238,410 | 147,241 | ||||||||||||
(152,518) | (196,108) | (294) | (521) | — | ||||||||||||
(108,428) | (117,667) | (3,814) | (2,476) | — | ||||||||||||
(22,904,761) | (19,779,981) | (268,507) | (103,794) | — | ||||||||||||
(724,731) | (945,036) | — | (10,607) | — | ||||||||||||
(1,814,928) | (1,960,709) | (31,369) | (26,477) | — | ||||||||||||
(19,304,059) | (27,583,071) | (770,783) | (847,966) | (13,314) | ||||||||||||
— | — | — | — | — | ||||||||||||
(28,167,906) | (29,049,174) | 290,086 | 246,569 | 133,927 | ||||||||||||
666,239 | (372,784) | 1,305,147 | 574,341 | 146,421 | ||||||||||||
182,348,748 | 182,721,532 | 3,299,901 | 2,725,560 | — | ||||||||||||
$ | 183,014,987 | $ | 182,348,748 | $ | 4,605,048 | $ | 3,299,901 | $ | 146,421 |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Changes
in Net Assets (continued) | ||||||||
Years ended December 31, 2013 and 2012, except as noted | ||||||||
Equity | ||||||||
Income | ||||||||
Class
1 | ||||||||
Division | ||||||||
2013 | 2012 | |||||||
Increase (decrease) in net assets | ||||||||
Operations: | ||||||||
Net
investment income (loss) | $ | 4,900,116 | $ | 4,761,926 | ||||
Total realized gains (losses) on investments | 5,435,449 | (6,174,959) | ||||||
Change
in net unrealized appreciation or depreciation of investments | 56,391,519 | 32,945,898 | ||||||
Net gains (losses) from investments | 66,727,084 | 31,532,865 | ||||||
Payment
from affiliate | — | — | ||||||
Net
increase (decrease) in net assets resulting from operations | 66,727,084 | 31,532,865 | ||||||
Policy
related transactions: | ||||||||
Purchase payments, less sales charges, per payment fees | ||||||||
and
applicable premium taxes | 34,160,205 | 24,933,966 | ||||||
Administration charges | (1,205,871) | (1,675,810) | ||||||
Contingent
sales charges | (259,977) | (274,031) | ||||||
Contract terminations | (25,890,673) | (18,724,217) | ||||||
Death
benefit payments | (1,497,481) | (1,649,422) | ||||||
Flexible withdrawal option payments | (6,334,731) | (6,205,584) | ||||||
Transfers
to other contracts | (55,096,787) | (36,163,630) | ||||||
Annuity payments | — | — | ||||||
Increase
(decrease) in net assets from policy related transactions | (56,125,315) | (39,758,728) | ||||||
Total increase (decrease) | 10,601,769 | (8,225,863) | ||||||
Net
assets at beginning of period | 282,998,065 | 291,223,928 | ||||||
Net assets at end of period | $ | 293,599,834 | $ | 282,998,065 | ||||
See
accompanying notes. | ||||||||
Fidelity
VIP | Fidelity VIP | Fidelity VIP | |||||||||||||||||
Contrafund | Contrafund | Equity-Income | |||||||||||||||||
Service | Service | Service | |||||||||||||||||
Class | Class
2 | Class 2 | |||||||||||||||||
Division | Division | Division | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
$ | (175,397) | $ | (66,994) | $ | (323,190) | $ | (129,657) | $ | 330,337 | $ | 542,984 | ||||||||
1,496,741 | 2,312 | 535,422 | (907,253) | 2,460,377 | 1,246,772 | ||||||||||||||
11,345,847 | 7,190,520 | 13,331,309 | 7,727,861 | 6,221,646 | 3,723,990 | ||||||||||||||
12,667,191 | 7,125,838 | 13,543,541 | 6,690,951 | 9,012,360 | 5,513,746 | ||||||||||||||
— | — | — | — | — | — | ||||||||||||||
12,667,191 | 7,125,838 | 13,543,541 | 6,690,951 | 9,012,360 | 5,513,746 | ||||||||||||||
3,900,598 | 4,515,846 | 6,028,034 | 6,098,369 | 5,669,130 | 7,803,257 | ||||||||||||||
(10,810) | (13,848) | (145,409) | (193,262) | (7,870) | (10,611) | ||||||||||||||
(14,910) | (21,565) | (49,561) | (51,866) | (26,544) | (28,513) | ||||||||||||||
(7,600,179) | (7,205,241) | (3,489,034) | (2,173,871) | (6,216,860) | (4,901,001) | ||||||||||||||
(194,550) | (483,192) | (65,325) | (221,063) | (169,676) | (197,594) | ||||||||||||||
(527,386) | (582,195) | (782,597) | (711,683) | (407,039) | (431,366) | ||||||||||||||
(4,327,259) | (6,971,052) | (8,374,845) | (7,043,415) | (5,098,409) | (8,586,085) | ||||||||||||||
— | — | — | — | — | — | ||||||||||||||
(8,774,496) | (10,761,247) | (6,878,737) | (4,296,791) | (6,257,268) | (6,351,913) | ||||||||||||||
3,892,695 | (3,635,409) | 6,664,804 | 2,394,160 | 2,755,092 | (838,167) | ||||||||||||||
47,182,903 | 50,818,312 | 49,174,925 | 46,780,765 | 36,953,265 | 37,791,432 | ||||||||||||||
$ | 51,075,598 | $ | 47,182,903 | $ | 55,839,729 | $ | 49,174,925 | $ | 39,708,357 | $ | 36,953,265 |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Changes
in Net Assets (continued) | ||||||||
Years ended December 31, 2013 and 2012, except as noted | ||||||||
Fidelity
VIP | ||||||||
Growth | ||||||||
Service | ||||||||
Class | ||||||||
Division | ||||||||
2013 | 2012 | |||||||
Increase
(decrease) in net assets | ||||||||
Operations: | ||||||||
Net investment income (loss) | $ | (169,084) | $ | (126,170) | ||||
Total
realized gains (losses) on investments | 457,357 | (23,284) | ||||||
Change in net unrealized appreciation or depreciation of investments | 4,285,177 | 2,064,345 | ||||||
Net
gains (losses) from investments | 4,573,450 | 1,914,891 | ||||||
Payment
from affiliate | — | — | ||||||
Net
increase (decrease) in net assets resulting from operations | 4,573,450 | 1,914,891 | ||||||
Policy
related transactions: | ||||||||
Purchase payments, less sales charges, per payment fees | ||||||||
and
applicable premium taxes | 1,182,465 | 1,667,924 | ||||||
Administration charges | (3,137) | (4,059) | ||||||
Contingent
sales charges | (4,095) | (5,969) | ||||||
Contract terminations | (2,087,351) | (1,994,226) | ||||||
Death
benefit payments | (123,544) | (149,796) | ||||||
Flexible withdrawal option payments | (146,602) | (152,454) | ||||||
Transfers
to other contracts | (1,301,322) | (1,652,626) | ||||||
Annuity payments | — | — | ||||||
Increase
(decrease) in net assets from policy related transactions | (2,483,586) | (2,291,206) | ||||||
Total increase (decrease) | 2,089,864 | (376,315) | ||||||
Net
assets at beginning of period | 14,547,527 | 14,923,842 | ||||||
Net assets at end of period | $ | 16,637,391 | $ | 14,547,527 | ||||
See
accompanying notes. | ||||||||
Fidelity
VIP | Fidelity VIP | Fidelity VIP | |||||||||||||||||
Growth | Mid Cap | Overseas | |||||||||||||||||
Service | Service | Service | |||||||||||||||||
Class
2 | Class 2 | Class 2 | |||||||||||||||||
Division | Division | Division | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
$ | (108,034) | $ | (78,469) | $ | (141,028) | $ | (108,914) | $ | (162,246) | $ | 174,676 | ||||||||
307,658 | 213,028 | 2,206,907 | 892,370 | (1,000,217) | (2,336,625) | ||||||||||||||
1,986,013 | 716,521 | 1,625,887 | 536,705 | 12,489,974 | 9,907,707 | ||||||||||||||
2,185,637 | 851,080 | 3,691,766 | 1,320,161 | 11,327,511 | 7,745,758 | ||||||||||||||
— | — | — | — | — | — | ||||||||||||||
2,185,637 | 851,080 | 3,691,766 | 1,320,161 | 11,327,511 | 7,745,758 | ||||||||||||||
1,182,478 | 1,378,758 | 3,437,254 | 1,312,494 | 4,762,307 | 4,543,725 | ||||||||||||||
(1,216) | (1,354) | (1,425) | (1,027) | (195,191) | (269,518) | ||||||||||||||
(10,047) | (13,178) | (11,827) | (16,439) | (50,954) | (56,498) | ||||||||||||||
(707,295) | (552,343) | (832,639) | (688,989) | (3,587,130) | (2,368,008) | ||||||||||||||
(28,359) | (41,586) | (7,359) | (15,222) | (185,766) | (192,853) | ||||||||||||||
(27,687) | (21,995) | (85,440) | (73,494) | (841,138) | (816,918) | ||||||||||||||
(913,419) | (1,542,301) | (1,721,737) | (1,414,927) | (9,527,285) | (5,673,641) | ||||||||||||||
— | — | — | — | — | — | ||||||||||||||
(505,545) | (793,999) | 776,827 | (897,604) | (9,625,157) | (4,833,711) | ||||||||||||||
1,680,092 | 57,081 | 4,468,593 | 422,557 | 1,702,354 | 2,912,047 | ||||||||||||||
6,665,791 | 6,608,710 | 10,854,865 | 10,432,308 | 44,059,681 | 41,147,634 | ||||||||||||||
$ | 8,345,883 | $ | 6,665,791 | $ | 15,323,458 | $ | 10,854,865 | $ | 45,762,035 | $ | 44,059,681 |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Changes
in Net Assets (continued) | ||||||||
Years ended December 31, 2013 and 2012, except as noted | ||||||||
Franklin | ||||||||
Small
Cap | ||||||||
Value Securities | ||||||||
Class 2 | ||||||||
Division | ||||||||
2013 | 2012 | |||||||
Increase
(decrease) in net assets | ||||||||
Operations: | ||||||||
Net investment income (loss) | $ | (4,820) | $ | (11,547) | ||||
Total
realized gains (losses) on investments | 239,390 | (31,930) | ||||||
Change in net unrealized appreciation or depreciation of investments | 515,433 | 307,205 | ||||||
Net
gains (losses) from investments | 750,003 | 263,728 | ||||||
Payment
from affiliate | — | — | ||||||
Net
increase (decrease) in net assets resulting from operations | 750,003 | 263,728 | ||||||
Policy
related transactions: | ||||||||
Purchase payments, less sales charges, per payment fees | ||||||||
and
applicable premium taxes | 2,014,923 | 1,451,939 | ||||||
Administration charges | (226) | (310) | ||||||
Contingent
sales charges | (1,820) | (2,075) | ||||||
Contract terminations | (128,714) | (86,990) | ||||||
Death
benefit payments | — | — | ||||||
Flexible withdrawal option payments | (4,916) | (4,626) | ||||||
Transfers
to other contracts | (1,125,032) | (1,357,287) | ||||||
Annuity payments | — | — | ||||||
Increase
(decrease) in net assets from policy related transactions | 754,215 | 651 | ||||||
Total increase (decrease) | 1,504,218 | 264,379 | ||||||
Net
assets at beginning of period | 1,990,229 | 1,725,850 | ||||||
Net assets at end of period | $ | 3,494,447 | $ | 1,990,229 | ||||
See
accompanying notes. | ||||||||
Goldman
Sachs | Goldman Sachs | Government | |||||||||||||||||
VIT Mid Cap | VIT Structured | & High | |||||||||||||||||
Value | Small Cap | Quality | |||||||||||||||||
Service | Equity
Service | Bond | |||||||||||||||||
Class I | Class I | Class 1 | |||||||||||||||||
Division | Division | Division | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
$ | (108,492) | $ | (48,822) | $ | (30,338) | $ | (15,225) | $ | 4,471,980 | $ | 5,305,181 | ||||||||
1,786,824 | (163,901) | 1,376,492 | (75,367) | 304,154 | 1,074,171 | ||||||||||||||
2,866,707 | 2,689,432 | 545,201 | 759,282 | (9,029,643) | (1,344,323) | ||||||||||||||
4,545,039 | 2,476,709 | 1,891,355 | 668,690 | (4,253,509) | 5,035,029 | ||||||||||||||
— | — | — | — | — | — | ||||||||||||||
4,545,039 | 2,476,709 | 1,891,355 | 668,690 | (4,253,509) | 5,035,029 | ||||||||||||||
2,340,951 | 659,910 | 1,098,323 | 767,968 | 27,222,387 | 45,412,625 | ||||||||||||||
(1,727) | (2,072) | (151) | (262) | (254,016) | (350,677) | ||||||||||||||
(22,397) | (28,129) | (8,533) | (5,926) | (91,407) | (143,461) | ||||||||||||||
(1,577,057) | (1,178,957) | (600,708) | (248,375) | (20,550,032) | (22,297,945) | ||||||||||||||
(55,533) | (36,235) | (11,729) | (10,315) | (1,338,626) | (1,453,922) | ||||||||||||||
(121,185) | (105,462) | (44,986) | (42,495) | (3,905,842) | (4,416,644) | ||||||||||||||
(2,810,600) | (1,530,048) | (1,027,668) | (1,445,512) | (33,050,827) | (23,485,202) | ||||||||||||||
— | — | — | — | — | — | ||||||||||||||
(2,247,548) | (2,220,993) | (595,452) | (984,917) | (31,968,363) | (6,735,226) | ||||||||||||||
2,297,491 | 255,716 | 1,295,903 | (316,227) | (36,221,872) | (1,700,197) | ||||||||||||||
15,717,553 | 15,461,837 | 5,867,822 | 6,184,049 | 196,165,851 | 197,866,048 | ||||||||||||||
$ | 18,015,044 | $ | 15,717,553 | $ | 7,163,725 | $ | 5,867,822 | $ | 159,943,979 | $ | 196,165,851 |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Changes
in Net Assets (continued) | ||||||||
Years ended December 31, 2013 and 2012, except as noted | ||||||||
International | ||||||||
Emerging | ||||||||
Markets | ||||||||
Class
1 | ||||||||
Division | ||||||||
2013 | 2012 | |||||||
Increase (decrease) in net assets | ||||||||
Operations: | ||||||||
Net
investment income (loss) | $ | 773,585 | $ | (42,539) | ||||
Total realized gains (losses) on investments | (786,418) | (1,369,514) | ||||||
Change
in net unrealized appreciation or depreciation of investments | (4,916,429) | 16,145,458 | ||||||
Net gains (losses) from investments | (4,929,262) | 14,733,405 | ||||||
Payment
from affiliate | — | — | ||||||
Net
increase (decrease) in net assets resulting from operations | (4,929,262) | 14,733,405 | ||||||
Policy
related transactions: | ||||||||
Purchase payments, less sales charges, per payment fees | ||||||||
and
applicable premium taxes | 16,654,206 | 16,975,686 | ||||||
Administration charges | (11,881) | (19,458) | ||||||
Contingent
sales charges | (62,021) | (77,868) | ||||||
Contract terminations | (9,994,501) | (8,125,276) | ||||||
Death
benefit payments | (241,483) | (282,037) | ||||||
Flexible withdrawal option payments | (505,137) | (571,301) | ||||||
Transfers
to other contracts | (12,234,290) | (16,983,170) | ||||||
Annuity payments | — | — | ||||||
Increase
(decrease) in net assets from policy related transactions | (6,395,107) | (9,083,424) | ||||||
Total increase (decrease) | (11,324,369) | 5,649,981 | ||||||
Net
assets at beginning of period | 86,312,796 | 80,662,815 | ||||||
Net assets at end of period | $ | 74,988,427 | $ | 86,312,796 | ||||
(1) Represented
the operations of Invesco Van Kampen American Franchise Series I Division until May 20, 2013. | ||||||||
(2) Commenced operations April 27, 2012. | ||||||||
See accompanying notes. |
Invesco | Invesco | ||||||||||||||||||
American | Invesco | Global | |||||||||||||||||
Franchise | Core
Equity | Health Care | |||||||||||||||||
Series I | Series I | Series I | |||||||||||||||||
Division (1) (2) | Division | Division | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
$ | (39,680) | $ | (40,161) | $ | 14,885 | $ | (76,018) | $ | (55,346) | $ | (94,378) | ||||||||
114,082 | (35,386) | 1,222,944 | 519,049 | 803,614 | 259,492 | ||||||||||||||
1,455,481 | (107,457) | 4,405,622 | 2,310,920 | 2,224,613 | 1,086,911 | ||||||||||||||
1,529,883 | (183,004) | 5,643,451 | 2,753,951 | 2,972,881 | 1,252,025 | ||||||||||||||
— | — | — | — | — | — | ||||||||||||||
1,529,883 | (183,004) | 5,643,451 | 2,753,951 | 2,972,881 | 1,252,025 | ||||||||||||||
299,690 | 5,502,144 | 969,204 | 1,421,544 | 3,331,626 | 1,781,178 | ||||||||||||||
(1,069) | (821) | (5,476) | (6,595) | (2,339) | (2,941) | ||||||||||||||
(1,233) | (1,076) | (6,088) | (8,663) | (2,482) | (2,224) | ||||||||||||||
(628,479) | (359,493) | (3,103,624) | (2,894,531) | (1,265,387) | (742,957) | ||||||||||||||
(55,717) | (32,023) | (163,999) | (141,112) | (55,203) | (55,583) | ||||||||||||||
(49,643) | (45,252) | (322,660) | (347,939) | (132,761) | (121,126) | ||||||||||||||
(365,709) | (448,077) | (1,651,257) | (1,975,526) | (1,914,008) | (1,312,310) | ||||||||||||||
— | — | — | — | — | — | ||||||||||||||
(802,160) | 4,615,402 | (4,283,900) | (3,952,822) | (40,554) | (455,963) | ||||||||||||||
727,723 | 4,432,398 | 1,359,551 | (1,198,871) | 2,932,327 | 796,062 | ||||||||||||||
4,432,398 | — | 22,263,224 | 23,462,095 | 7,546,745 | 6,750,683 | ||||||||||||||
$ | 5,160,121 | $ | 4,432,398 | $ | 23,622,775 | $ | 22,263,224 | $ | 10,479,072 | $ | 7,546,745 |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Changes
in Net Assets (continued) | ||||||||
Years ended December 31, 2013 and 2012, except as noted | ||||||||
Invesco | ||||||||
International | ||||||||
Growth | ||||||||
Series
I | ||||||||
Division | ||||||||
2013 | 2012 | |||||||
Increase (decrease) in net assets | ||||||||
Operations: | ||||||||
Net
investment income (loss) | $ | (964) | $ | 22,269 | ||||
Total realized gains (losses) on investments | 163,042 | 81,543 | ||||||
Change
in net unrealized appreciation or depreciation of investments | 1,131,331 | 745,234 | ||||||
Net gains (losses) from investments | 1,293,409 | 849,046 | ||||||
Payment
from affiliate | — | — | ||||||
Net
increase (decrease) in net assets resulting from operations | 1,293,409 | 849,046 | ||||||
Policy
related transactions: | ||||||||
Purchase payments, less sales charges, per payment fees | ||||||||
and
applicable premium taxes | 2,695,801 | 1,891,865 | ||||||
Administration charges | (24,600) | (30,337) | ||||||
Contingent
sales charges | (4,706) | (4,875) | ||||||
Contract terminations | (331,272) | (204,319) | ||||||
Death
benefit payments | (19,991) | (6,281) | ||||||
Flexible withdrawal option payments | (55,607) | (56,732) | ||||||
Transfers
to other contracts | (1,698,586) | (1,270,871) | ||||||
Annuity payments | — | — | ||||||
Increase
(decrease) in net assets from policy related transactions | 561,039 | 318,450 | ||||||
Total increase (decrease) | 1,854,448 | 1,167,496 | ||||||
Net
assets at beginning of period | 6,998,936 | 5,831,440 | ||||||
Net assets at end of period | $ | 8,853,384 | $ | 6,998,936 | ||||
(1) Represented
the operations of Invesco Van Kampen MidCap Growth Series I Division until May 20, 2013. | ||||||||
(2) Commenced operations April 27, 2012. | ||||||||
See accompanying notes. |
Invesco | Invesco | ||||||||||||||||||
MidCap | Small
Cap | Invesco | |||||||||||||||||
Growth | Equity | Technology | |||||||||||||||||
Series I | Series I | Series I | |||||||||||||||||
Division
(1) (2) | Division | Division | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
$ | (14,072) | $ | (16,870) | $ | (130,668) | $ | (116,526) | $ | (42,645) | $ | (49,958) | ||||||||
(120,251) | (880,832) | 982,539 | 403,325 | 654,013 | 458,761 | ||||||||||||||
589,044 | 825,958 | 2,058,859 | 732,083 | 82,670 | (73,421) | ||||||||||||||
454,721 | (71,744) | 2,910,730 | 1,018,882 | 694,038 | 335,382 | ||||||||||||||
— | — | — | — | — | — | ||||||||||||||
454,721 | (71,744) | 2,910,730 | 1,018,882 | 694,038 | 335,382 | ||||||||||||||
372,542 | 2,346,273 | 2,023,949 | 2,028,504 | 679,213 | 1,222,081 | ||||||||||||||
(330) | (207) | (11,817) | (14,194) | (354) | (494) | ||||||||||||||
(837) | (369) | (6,105) | (5,695) | (838) | (1,595) | ||||||||||||||
(426,668) | (123,201) | (974,488) | (585,956) | (427,236) | (532,772) | ||||||||||||||
(2,398) | (44,143) | (20,190) | (76,214) | (2,639) | (81,705) | ||||||||||||||
(14,499) | (13,300) | (93,222) | (81,709) | (27,379) | (32,065) | ||||||||||||||
(299,762) | (504,021) | (1,707,831) | (2,556,318) | (839,748) | (1,149,209) | ||||||||||||||
— | — | — | — | — | — | ||||||||||||||
(371,952) | 1,661,032 | (789,704) | (1,291,582) | (618,981) | (575,759) | ||||||||||||||
82,769 | 1,589,288 | 2,121,026 | (272,700) | 75,057 | (240,377) | ||||||||||||||
1,589,288 | — | 8,501,670 | 8,774,370 | 3,350,478 | 3,590,855 | ||||||||||||||
$ | 1,672,057 | $ | 1,589,288 | $ | 10,622,696 | $ | 8,501,670 | $ | 3,425,535 | $ | 3,350,478 |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Changes
in Net Assets (continued) | ||||||||
Years ended December 31, 2013 and 2012, except as noted | ||||||||
Invesco | ||||||||
Value | ||||||||
Opportunities | ||||||||
Series
I | ||||||||
Division (1) | ||||||||
2013 | 2012 | |||||||
Increase (decrease) in net assets | ||||||||
Operations: | ||||||||
Net
investment income (loss) | $ | 2,014 | $ | 3,853 | ||||
Total realized gains (losses) on investments | 335,007 | 256,615 | ||||||
Change
in net unrealized appreciation or depreciation of investments | 1,099,438 | 410,721 | ||||||
Net gains (losses) from investments | 1,436,459 | 671,189 | ||||||
Payment
from affiliate | — | — | ||||||
Net
increase (decrease) in net assets resulting from operations | 1,436,459 | 671,189 | ||||||
Policy
related transactions: | ||||||||
Purchase payments, less sales charges, per payment fees | ||||||||
and
applicable premium taxes | 931,326 | 1,114,249 | ||||||
Administration charges | (20,514) | (24,790) | ||||||
Contingent
sales charges | (4,315) | (5,465) | ||||||
Contract terminations | (303,766) | (229,047) | ||||||
Death
benefit payments | (7,806) | — | ||||||
Flexible withdrawal option payments | (63,298) | (47,511) | ||||||
Transfers
to other contracts | (884,264) | (1,291,324) | ||||||
Annuity payments | — | — | ||||||
Increase
(decrease) in net assets from policy related transactions | (352,637) | (483,888) | ||||||
Total increase (decrease) | 1,083,822 | 187,301 | ||||||
Net
assets at beginning of period | 4,582,115 | 4,394,814 | ||||||
Net assets at end of period | $ | 5,665,937 | $ | 4,582,115 | ||||
(1) Represented
the operations of Invesco Van Kampen Value Opportunities Series I Division until May 20, 2013. | ||||||||
See accompanying notes. |
Janus
Aspen | LargeCap | LargeCap | |||||||||||||||||
Enterprise | Blend II | Growth | |||||||||||||||||
Service Shares | Class 1 | Class
1 | |||||||||||||||||
Division | Division | Division | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
$ | (87,817) | $ | (123,898) | $ | 9,129 | $ | (123,908) | $ | 101,618 | $ | (475,533) | ||||||||
1,023,234 | 810,165 | (1,917,902) | (7,684,322) | 3,119,062 | 1,236,159 | ||||||||||||||
1,599,808 | 712,378 | 37,257,959 | 25,976,889 | 11,305,021 | 6,433,431 | ||||||||||||||
2,535,225 | 1,398,645 | 35,349,186 | 18,168,659 | 14,525,701 | 7,194,057 | ||||||||||||||
— | — | — | — | — | — | ||||||||||||||
2,535,225 | 1,398,645 | 35,349,186 | 18,168,659 | 14,525,701 | 7,194,057 | ||||||||||||||
1,097,137 | 1,136,342 | 10,616,163 | 14,413,547 | 5,967,596 | 6,833,009 | ||||||||||||||
(2,697) | (3,215) | (436,445) | (604,711) | (41,114) | (48,663) | ||||||||||||||
(3,029) | (3,368) | (114,829) | (138,459) | (21,715) | (23,556) | ||||||||||||||
(1,544,086) | (1,125,394) | (13,896,972) | (12,251,127) | (8,453,832) | (6,764,569) | ||||||||||||||
(51,440) | (72,381) | (515,086) | (814,451) | (351,611) | (804,109) | ||||||||||||||
(58,803) | (74,788) | (2,543,032) | (2,541,864) | (663,757) | (677,517) | ||||||||||||||
(1,125,140) | (1,735,951) | (25,390,625) | (23,417,674) | (3,452,788) | (5,461,797) | ||||||||||||||
— | — | — | — | — | — | ||||||||||||||
(1,688,058) | (1,878,755) | (32,280,826) | (25,354,739) | (7,017,221) | (6,947,202) | ||||||||||||||
847,167 | (480,110) | 3,068,360 | (7,186,080) | 7,508,480 | 246,855 | ||||||||||||||
9,083,402 | 9,563,512 | 132,633,013 | 139,819,093 | 48,013,420 | 47,766,565 | ||||||||||||||
$ | 9,930,569 | $ | 9,083,402 | $ | 135,701,373 | $ | 132,633,013 | $ | 55,521,900 | $ | 48,013,420 |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Changes
in Net Assets (continued) | ||||||||
Years ended December 31, 2013 and 2012, except as noted | ||||||||
LargeCap | ||||||||
Growth
I | ||||||||
Class 1 | ||||||||
Division | ||||||||
2013 | 2012 | |||||||
Increase
(decrease) in net assets | ||||||||
Operations: | ||||||||
Net investment income (loss) | $ | (958,234) | $ | (1,243,764) | ||||
Total
realized gains (losses) on investments | 9,638,907 | 4,691,008 | ||||||
Change in net unrealized appreciation or depreciation of investments | 22,384,228 | 10,727,581 | ||||||
Net
gains (losses) from investments | 31,064,901 | 14,174,825 | ||||||
Payment
from affiliate | — | — | ||||||
Net
increase (decrease) in net assets resulting from operations | 31,064,901 | 14,174,825 | ||||||
Policy
related transactions: | ||||||||
Purchase payments, less sales charges, per payment fees | ||||||||
and
applicable premium taxes | 8,351,296 | 8,858,844 | ||||||
Administration charges | (36,084) | (43,855) | ||||||
Contingent
sales charges | (37,032) | (47,030) | ||||||
Contract terminations | (12,445,589) | (10,725,083) | ||||||
Death
benefit payments | (621,243) | (569,735) | ||||||
Flexible withdrawal option payments | (975,229) | (1,032,727) | ||||||
Transfers
to other contracts | (7,967,738) | (11,016,041) | ||||||
Annuity payments | — | — | ||||||
Increase
(decrease) in net assets from policy related transactions | (13,731,619) | (14,575,627) | ||||||
Total increase (decrease) | 17,333,282 | (400,802) | ||||||
Net
assets at beginning of period | 97,184,508 | 97,585,310 | ||||||
Net assets at end of period | $ | 114,517,790 | $ | 97,184,508 | ||||
(1) Commenced
operations May 20, 2013. | ||||||||
See accompanying notes. |
LargeCap | ||||||||||||||||
S&P
500 | LargeCap | MFS VIT | ||||||||||||||
Index | Value | New Discovery | ||||||||||||||
Class 1 | Class 1 | Service
Class | ||||||||||||||
Division | Division | Division (1) | ||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | ||||||||||||
$ | (69,089) | $ | (196,956) | $ | 1,185,391 | $ | 50,020 | $ | (2,063) | |||||||
4,518,457 | 1,891,828 | 1,162,324 | (2,833,319) | 2,968 | ||||||||||||
20,455,869 | 10,175,493 | 20,967,543 | 16,267,615 | 42,211 | ||||||||||||
24,905,237 | 11,870,365 | 23,315,258 | 13,484,316 | 43,116 | ||||||||||||
— | — | — | — | — | ||||||||||||
24,905,237 | 11,870,365 | 23,315,258 | 13,484,316 | 43,116 | ||||||||||||
12,730,081 | 12,672,605 | 8,208,233 | 8,785,185 | 647,917 | ||||||||||||
(84,151) | (106,357) | (87,281) | (108,424) | — | ||||||||||||
(50,840) | (71,338) | (31,891) | (33,451) | (38) | ||||||||||||
(10,199,220) | (9,846,187) | (10,078,969) | (9,320,291) | (2,642) | ||||||||||||
(409,167) | (440,489) | (777,249) | (961,477) | (6,731) | ||||||||||||
(1,291,000) | (1,257,399) | (1,257,940) | (1,314,588) | (1,398) | ||||||||||||
(10,239,324) | (15,069,967) | (8,094,644) | (9,442,537) | (82,048) | ||||||||||||
— | — | — | — | — | ||||||||||||
(9,543,621) | (14,119,132) | (12,119,741) | (12,395,583) | 555,060 | ||||||||||||
15,361,616 | (2,248,767) | 11,195,517 | 1,088,733 | 598,176 | ||||||||||||
85,827,761 | 88,076,528 | 84,329,851 | 83,241,118 | — | ||||||||||||
$ | 101,189,377 | $ | 85,827,761 | $ | 95,525,368 | $ | 84,329,851 | $ | 598,176 |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Changes
in Net Assets (continued) | ||||||||
Years ended December 31, 2013 and 2012, except as noted | ||||||||
MFS
VIT | ||||||||
Utilities | ||||||||
Service Class | ||||||||
Division | ||||||||
2013 | 2012 | |||||||
Increase
(decrease) in net assets | ||||||||
Operations: | ||||||||
Net investment income (loss) | $ | 46,295 | $ | 250,681 | ||||
Total
realized gains (losses) on investments | 443,292 | 19,598 | ||||||
Change in net unrealized appreciation or depreciation of investments | 632,778 | 228,909 | ||||||
Net
gains (losses) from investments | 1,122,365 | 499,188 | ||||||
Payment
from affiliate | — | — | ||||||
Net
increase (decrease) in net assets resulting from operations | 1,122,365 | 499,188 | ||||||
Policy
related transactions: | ||||||||
Purchase payments, less sales charges, per payment fees | ||||||||
and
applicable premium taxes | 5,465,498 | 3,299,862 | ||||||
Administration charges | (828) | (805) | ||||||
Contingent
sales charges | (7,742) | (7,428) | ||||||
Contract terminations | (545,050) | (311,313) | ||||||
Death
benefit payments | (8,606) | — | ||||||
Flexible withdrawal option payments | (63,208) | (41,064) | ||||||
Transfers
to other contracts | (2,655,613) | (1,357,168) | ||||||
Annuity payments | — | — | ||||||
Increase
(decrease) in net assets from policy related transactions | 2,184,451 | 1,582,084 | ||||||
Total increase (decrease) | 3,306,816 | 2,081,272 | ||||||
Net
assets at beginning of period | 5,323,951 | 3,242,679 | ||||||
Net assets at end of period | $ | 8,630,767 | $ | 5,323,951 | ||||
(1) Represented
the operations of MidCap Blend Class 1 Division until May 20, 2013. | ||||||||
See accompanying notes. |
MFS
VIT | Money | ||||||||||||||||||
Value | MidCap | Market | |||||||||||||||||
Service Class | Class 1 | Class
1 | |||||||||||||||||
Division | Division (1) | Division | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
$ | (11,220) | $ | (475) | $ | 525,502 | $ | (1,585,630) | $ | (898,986) | $ | (1,131,698) | ||||||||
255,574 | 87,623 | 41,359,521 | 17,121,613 | — | 138 | ||||||||||||||
755,665 | 143,116 | 67,513,872 | 44,578,942 | — | (144) | ||||||||||||||
1,000,019 | 230,264 | 109,398,895 | 60,114,925 | (898,986) | (1,131,704) | ||||||||||||||
— | — | — | — | — | — | ||||||||||||||
1,000,019 | 230,264 | 109,398,895 | 60,114,925 | (898,986) | (1,131,704) | ||||||||||||||
2,942,627 | 1,065,520 | 40,410,092 | 38,208,326 | 87,369,403 | 73,969,048 | ||||||||||||||
(60) | (60) | (561,585) | (747,111) | (66,155) | (93,556) | ||||||||||||||
(2,882) | (1,712) | (214,158) | (231,826) | (106,511) | (178,648) | ||||||||||||||
(202,882) | (71,764) | (42,382,256) | (33,086,783) | (25,396,285) | (25,855,076) | ||||||||||||||
— | — | (1,790,109) | (2,117,664) | (719,282) | (590,974) | ||||||||||||||
(39,250) | (14,283) | (5,028,529) | (4,888,634) | (1,449,537) | (1,941,134) | ||||||||||||||
(1,241,696) | (718,977) | (50,370,748) | (49,957,338) | (74,100,192) | (64,856,985) | ||||||||||||||
— | — | — | — | — | — | ||||||||||||||
1,455,857 | 258,724 | (59,937,293) | (52,821,030) | (14,468,559) | (19,547,325) | ||||||||||||||
2,455,876 | 488,988 | 49,461,602 | 7,293,895 | (15,367,545) | (20,679,029) | ||||||||||||||
1,986,587 | 1,497,599 | 362,857,454 | 355,563,559 | 81,006,901 | 101,685,930 | ||||||||||||||
$ | 4,442,463 | $ | 1,986,587 | $ | 412,319,056 | $ | 362,857,454 | $ | 65,639,356 | $ | 81,006,901 |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Changes
in Net Assets (continued) | ||||||||
Years ended December 31, 2013 and 2012, except as noted | ||||||||
Neuberger | ||||||||
Berman
AMT | ||||||||
Large Cap | ||||||||
Value | ||||||||
I Class | ||||||||
Division | ||||||||
2013 | 2012 | |||||||
Increase
(decrease) in net assets | ||||||||
Operations: | ||||||||
Net investment income (loss) | $ | (18,316) | $ | (48,123) | ||||
Total
realized gains (losses) on investments | 368,928 | (401,582) | ||||||
Change in net unrealized appreciation or depreciation of investments | 1,032,904 | 1,125,337 | ||||||
Net
gains (losses) from investments | 1,383,516 | 675,632 | ||||||
Payment
from affiliate | — | — | ||||||
Net
increase (decrease) in net assets resulting from operations | 1,383,516 | 675,632 | ||||||
Policy
related transactions: | ||||||||
Purchase payments, less sales charges, per payment fees | ||||||||
and
applicable premium taxes | 849,016 | 1,023,060 | ||||||
Administration charges | (1,103) | (1,439) | ||||||
Contingent
sales charges | (12,382) | (10,693) | ||||||
Contract terminations | (871,697) | (448,177) | ||||||
Death
benefit payments | — | (766) | ||||||
Flexible withdrawal option payments | (43,473) | (44,047) | ||||||
Transfers
to other contracts | (1,177,530) | (518,378) | ||||||
Annuity payments | — | — | ||||||
Increase
(decrease) in net assets from policy related transactions | (1,257,169) | (440) | ||||||
Total increase (decrease) | 126,347 | 675,192 | ||||||
Net
assets at beginning of period | 5,316,857 | 4,641,665 | ||||||
Net assets at end of period | $ | 5,443,204 | $ | 5,316,857 | ||||
(1) Commenced
operations May 20, 2013. | ||||||||
See accompanying notes. |
Neuberger | Neuberger | |||||||||||||||
Berman
AMT | Berman AMT | Oppenheimer | ||||||||||||||
Small-Cap | Socially | Main Street | ||||||||||||||
Growth | Responsive | Small
Cap | ||||||||||||||
S Class | I Class | Service Shares | ||||||||||||||
Division | Division | Division (1) | ||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | ||||||||||||
$ | (51,137) | $ | (45,600) | $ | (53,322) | $ | (73,490) | $ | (1,223) | |||||||
402,088 | (12,931) | 902,466 | 4,408 | 2,201 | ||||||||||||
890,343 | 290,020 | 1,328,000 | 663,817 | 22,922 | ||||||||||||
1,241,294 | 231,489 | 2,177,144 | 594,735 | 23,900 | ||||||||||||
— | — | — | — | — | ||||||||||||
1,241,294 | 231,489 | 2,177,144 | 594,735 | 23,900 | ||||||||||||
705,642 | 369,273 | 1,068,352 | 505,590 | 398,977 | ||||||||||||
(5,068) | (6,367) | (31,812) | (41,118) | (42) | ||||||||||||
(4,753) | (5,265) | (4,298) | (4,431) | (2) | ||||||||||||
(334,604) | (220,671) | (302,557) | (185,729) | (968) | ||||||||||||
(18,490) | (19,931) | (2,113) | — | — | ||||||||||||
(30,102) | (23,731) | (111,868) | (109,981) | (1,404) | ||||||||||||
(844,167) | (332,441) | (1,872,530) | (641,603) | (42,855) | ||||||||||||
— | — | — | — | — | ||||||||||||
(531,542) | (239,133) | (1,256,826) | (477,272) | 353,706 | ||||||||||||
709,752 | (7,644) | 920,318 | 117,463 | 377,606 | ||||||||||||
3,038,317 | 3,045,961 | 6,518,407 | 6,400,944 | — | ||||||||||||
$ | 3,748,069 | $ | 3,038,317 | $ | 7,438,725 | $ | 6,518,407 | $ | 377,606 |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Changes
in Net Assets (continued) | ||||||||
Years ended December 31, 2013 and 2012, except as noted | ||||||||
PIMCO | ||||||||
All
Asset | ||||||||
Administrative | ||||||||
Class | ||||||||
Division | ||||||||
2013 | 2012 | |||||||
Increase
(decrease) in net assets | ||||||||
Operations: | ||||||||
Net investment income (loss) | $ | 167,752 | $ | 159,448 | ||||
Total
realized gains (losses) on investments | 66,220 | (2,213) | ||||||
Change in net unrealized appreciation or depreciation of investments | (354,729) | 271,281 | ||||||
Net
gains (losses) from investments | (120,757) | 428,516 | ||||||
Payment
from affiliate | — | — | ||||||
Net
increase (decrease) in net assets resulting from operations | (120,757) | 428,516 | ||||||
Policy
related transactions: | ||||||||
Purchase payments, less sales charges, per payment fees | ||||||||
and
applicable premium taxes | 4,199,092 | 2,615,409 | ||||||
Administration charges | (261) | (170) | ||||||
Contingent
sales charges | (6,720) | (4,435) | ||||||
Contract terminations | (473,104) | (185,883) | ||||||
Death
benefit payments | (22,206) | (21,318) | ||||||
Flexible withdrawal option payments | (56,050) | (34,568) | ||||||
Transfers
to other contracts | (3,229,006) | (691,617) | ||||||
Annuity payments | — | — | ||||||
Increase
(decrease) in net assets from policy related transactions | 411,745 | 1,677,418 | ||||||
Total increase (decrease) | 290,988 | 2,105,934 | ||||||
Net
assets at beginning of period | 4,702,787 | 2,596,853 | ||||||
Net assets at end of period | $ | 4,993,775 | $ | 4,702,787 | ||||
See
accompanying notes. | ||||||||
PIMCO | PIMCO | Principal | |||||||||||||||||
High
Yield | Total Return | Capital | |||||||||||||||||
Administrative | Administrative | Appreciation | |||||||||||||||||
Class | Class | Class
1 | |||||||||||||||||
Division | Division | Division | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
$ | 647,631 | $ | 728,487 | $ | 296,660 | $ | 401,779 | $ | 753,057 | $ | (25,364) | ||||||||
390,539 | 28,171 | 238,300 | 860,476 | 2,547,961 | 646,686 | ||||||||||||||
(644,617) | 1,237,308 | (1,931,417) | 1,100,406 | 407,023 | 551,683 | ||||||||||||||
393,553 | 1,993,966 | (1,396,457) | 2,362,661 | 3,708,041 | 1,173,005 | ||||||||||||||
— | — | — | — | — | — | ||||||||||||||
393,553 | 1,993,966 | (1,396,457) | 2,362,661 | 3,708,041 | 1,173,005 | ||||||||||||||
11,224,100 | 7,497,025 | 8,711,032 | 22,700,445 | 3,889,231 | 3,701,736 | ||||||||||||||
(1,224) | (1,049) | (3,216) | (4,178) | (1,174) | (1,222) | ||||||||||||||
(26,863) | (18,187) | (26,046) | (30,563) | (7,354) | (9,848) | ||||||||||||||
(1,891,159) | (762,285) | (1,833,583) | (1,280,999) | (526,401) | (425,089) | ||||||||||||||
(84,033) | (20,914) | (179,535) | (110,399) | (51,804) | (97,742) | ||||||||||||||
(252,547) | (337,002) | (379,217) | (321,979) | (65,598) | (57,526) | ||||||||||||||
(9,755,214) | (9,150,798) | (19,267,125) | (4,486,673) | (1,545,635) | (2,028,776) | ||||||||||||||
— | — | — | — | — | — | ||||||||||||||
(786,940) | (2,793,210) | (12,977,690) | 16,465,654 | 1,691,265 | 1,081,533 | ||||||||||||||
(393,387) | (799,244) | (14,374,147) | 18,828,315 | 5,399,306 | 2,254,538 | ||||||||||||||
14,597,244 | 15,396,488 | 45,490,450 | 26,662,135 | 11,418,044 | 9,163,506 | ||||||||||||||
$ | 14,203,857 | $ | 14,597,244 | $ | 31,116,303 | $ | 45,490,450 | $ | 16,817,350 | $ | 11,418,044 |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Changes
in Net Assets (continued) | ||||||||
Years ended December 31, 2013 and 2012, except as noted | ||||||||
Principal | ||||||||
LifeTime | ||||||||
Strategic | ||||||||
Income | ||||||||
Class
1 | ||||||||
Division | ||||||||
2013 | 2012 | |||||||
Increase (decrease) in net assets | ||||||||
Operations: | ||||||||
Net
investment income (loss) | $ | 338,978 | $ | 115,724 | ||||
Total realized gains (losses) on investments | (13,705) | (59,569) | ||||||
Change
in net unrealized appreciation or depreciation of investments | 558,681 | 1,954,637 | ||||||
Net gains (losses) from investments | 883,954 | 2,010,792 | ||||||
Payment
from affiliate | — | — | ||||||
Net
increase (decrease) in net assets resulting from operations | 883,954 | 2,010,792 | ||||||
Policy
related transactions: | ||||||||
Purchase payments, less sales charges, per payment fees | ||||||||
and
applicable premium taxes | 3,459,823 | 3,312,386 | ||||||
Administration charges | (78,752) | (107,919) | ||||||
Contingent
sales charges | (13,103) | (26,341) | ||||||
Contract terminations | (1,234,356) | (1,526,759) | ||||||
Death
benefit payments | (100,283) | (121,760) | ||||||
Flexible withdrawal option payments | (1,023,662) | (944,196) | ||||||
Transfers
to other contracts | (3,142,319) | (1,760,904) | ||||||
Annuity payments | — | — | ||||||
Increase
(decrease) in net assets from policy related transactions | (2,132,652) | (1,175,493) | ||||||
Total increase (decrease) | (1,248,698) | 835,299 | ||||||
Net
assets at beginning of period | 25,654,344 | 24,819,045 | ||||||
Net assets at end of period | $ | 24,405,646 | $ | 25,654,344 | ||||
See
accompanying notes. | ||||||||
Principal | Principal | Principal | |||||||||||||||||
LifeTime | LifeTime | LifeTime | |||||||||||||||||
2010 | 2020 | 2030 | |||||||||||||||||
Class
1 | Class 1 | Class 1 | |||||||||||||||||
Division | Division | Division | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
$ | 382,630 | $ | 220,307 | $ | 1,237,782 | $ | 573,714 | $ | 376,827 | $ | 163,142 | ||||||||
4,592 | (352,620) | 719,851 | (1,319,056) | 1,263,194 | 97,428 | ||||||||||||||
2,957,518 | 3,879,751 | 21,489,175 | 21,643,092 | 9,357,480 | 7,834,921 | ||||||||||||||
3,344,740 | 3,747,438 | 23,446,808 | 20,897,750 | 10,997,501 | 8,095,491 | ||||||||||||||
— | — | — | — | — | — | ||||||||||||||
3,344,740 | 3,747,438 | 23,446,808 | 20,897,750 | 10,997,501 | 8,095,491 | ||||||||||||||
5,181,775 | 2,314,810 | 14,023,102 | 6,926,124 | 4,810,585 | 2,700,995 | ||||||||||||||
(153,508) | (226,256) | (966,812) | (1,325,593) | (361,719) | (441,905) | ||||||||||||||
(30,565) | (47,540) | (124,072) | (134,570) | (57,959) | (63,344) | ||||||||||||||
(2,315,306) | (2,369,467) | (9,667,525) | (7,042,181) | (4,660,680) | (3,284,622) | ||||||||||||||
(244,129) | (297,172) | (2,289,224) | (515,118) | (47,718) | (270,423) | ||||||||||||||
(1,205,317) | (1,118,863) | (3,583,733) | (3,431,376) | (529,267) | (456,182) | ||||||||||||||
(5,617,217) | (1,695,459) | (16,417,861) | (6,766,706) | (1,841,125) | (1,168,487) | ||||||||||||||
— | — | — | — | — | — | ||||||||||||||
(4,384,267) | (3,439,947) | (19,026,125) | (12,289,420) | (2,687,883) | (2,983,968) | ||||||||||||||
(1,039,527) | 307,491 | 4,420,683 | 8,608,330 | 8,309,618 | 5,111,523 | ||||||||||||||
38,033,092 | 37,725,601 | 171,672,999 | 163,064,669 | 63,923,434 | 58,811,911 | ||||||||||||||
$ | 36,993,565 | $ | 38,033,092 | $ | 176,093,682 | $ | 171,672,999 | $ | 72,233,052 | $ | 63,923,434 |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Changes
in Net Assets (continued) | ||||||||
Years ended December 31, 2013 and 2012, except as noted | ||||||||
Principal | ||||||||
LifeTime | ||||||||
2040 | ||||||||
Class
1 | ||||||||
Division | ||||||||
2013 | 2012 | |||||||
Increase (decrease) in net assets | ||||||||
Operations: | ||||||||
Net
investment income (loss) | $ | 23,937 | $ | 25,137 | ||||
Total realized gains (losses) on investments | 158,490 | (221,639) | ||||||
Change
in net unrealized appreciation or depreciation of investments | 2,183,099 | 1,754,811 | ||||||
Net gains (losses) from investments | 2,365,526 | 1,558,309 | ||||||
Payment
from affiliate | — | — | ||||||
Net
increase (decrease) in net assets resulting from operations | 2,365,526 | 1,558,309 | ||||||
Policy
related transactions: | ||||||||
Purchase payments, less sales charges, per payment fees | ||||||||
and
applicable premium taxes | 1,818,346 | 1,828,057 | ||||||
Administration charges | (4,916) | (5,471) | ||||||
Contingent
sales charges | (25,356) | (16,014) | ||||||
Contract terminations | (1,852,516) | (686,304) | ||||||
Death
benefit payments | (15,089) | (4,471) | ||||||
Flexible withdrawal option payments | (25,298) | (22,424) | ||||||
Transfers
to other contracts | (909,776) | (1,362,205) | ||||||
Annuity payments | — | — | ||||||
Increase
(decrease) in net assets from policy related transactions | (1,014,605) | (268,832) | ||||||
Total increase (decrease) | 1,350,921 | 1,289,477 | ||||||
Net
assets at beginning of period | 11,701,739 | 10,412,262 | ||||||
Net assets at end of period | $ | 13,052,660 | $ | 11,701,739 | ||||
See
accompanying notes. | ||||||||
Principal | SAM | ||||||||||||||||||
LifeTime | Real
Estate | Balanced | |||||||||||||||||
2050 | Securities | Portfolio | |||||||||||||||||
Class 1 | Class 1 | Class 1 | |||||||||||||||||
Division | Division | Division | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
$ | 13,405 | $ | 5,233 | $ | (56,764) | $ | 43,601 | $ | 8,032,875 | $ | (4,402,611) | ||||||||
44,470 | (57,691) | 1,306,500 | 203,398 | 24,225,288 | 12,595,940 | ||||||||||||||
1,416,208 | 919,356 | 894,250 | 10,904,789 | 79,238,189 | 65,046,625 | ||||||||||||||
1,474,083 | 866,898 | 2,143,986 | 11,151,788 | 111,496,352 | 73,239,954 | ||||||||||||||
— | — | — | — | — | — | ||||||||||||||
1,474,083 | 866,898 | 2,143,986 | 11,151,788 | 111,496,352 | 73,239,954 | ||||||||||||||
1,186,897 | 1,257,256 | 17,187,195 | 19,320,245 | 94,742,603 | 35,151,343 | ||||||||||||||
(4,479) | (4,454) | (24,215) | (35,056) | (4,526,460) | (5,751,750) | ||||||||||||||
(7,144) | (10,314) | (46,765) | (51,564) | (447,751) | (515,593) | ||||||||||||||
(509,652) | (433,708) | (10,101,489) | (8,355,412) | (40,040,639) | (29,300,229) | ||||||||||||||
(7,679) | (12,189) | (198,450) | (429,575) | (1,724,592) | (1,107,166) | ||||||||||||||
(9,374) | (11,886) | (834,721) | (826,408) | (12,438,174) | (10,260,274) | ||||||||||||||
(386,635) | (566,841) | (12,634,209) | (17,632,826) | (68,516,534) | (24,971,419) | ||||||||||||||
— | — | — | — | — | — | ||||||||||||||
261,934 | 217,864 | (6,652,654) | (8,010,596) | (32,951,547) | (36,755,088) | ||||||||||||||
1,736,017 | 1,084,762 | (4,508,668) | 3,141,192 | 78,544,805 | 36,484,866 | ||||||||||||||
6,617,844 | 5,533,082 | 76,906,561 | 73,765,369 | 697,357,833 | 660,872,967 | ||||||||||||||
$ | 8,353,861 | $ | 6,617,844 | $ | 72,397,893 | $ | 76,906,561 | $ | 775,902,638 | $ | 697,357,833 |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Changes
in Net Assets (continued) | ||||||||
Years ended December 31, 2013 and 2012, except as noted | ||||||||
SAM | ||||||||
Conservative | ||||||||
Balanced | ||||||||
Portfolio | ||||||||
Class
1 | ||||||||
Division | ||||||||
2013 | 2012 | |||||||
Increase (decrease) in net assets | ||||||||
Operations: | ||||||||
Net
investment income (loss) | $ | 2,565,452 | $ | (828,924) | ||||
Total realized gains (losses) on investments | 7,725,343 | 4,313,765 | ||||||
Change
in net unrealized appreciation or depreciation of investments | 6,022,942 | 11,218,987 | ||||||
Net gains (losses) from investments | 16,313,737 | 14,703,828 | ||||||
Payment
from affiliate | — | — | ||||||
Net
increase (decrease) in net assets resulting from operations | 16,313,737 | 14,703,828 | ||||||
Policy
related transactions: | ||||||||
Purchase payments, less sales charges, per payment fees | ||||||||
and
applicable premium taxes | 33,135,119 | 20,844,153 | ||||||
Administration charges | (741,932) | (977,448) | ||||||
Contingent
sales charges | (89,749) | (193,907) | ||||||
Contract terminations | (9,767,863) | (12,749,752) | ||||||
Death
benefit payments | (446,800) | (349,065) | ||||||
Flexible withdrawal option payments | (3,493,013) | (2,944,448) | ||||||
Transfers
to other contracts | (19,507,849) | (9,160,534) | ||||||
Annuity payments | — | — | ||||||
Increase
(decrease) in net assets from policy related transactions | (912,087) | (5,531,001) | ||||||
Total increase (decrease) | 15,401,650 | 9,172,827 | ||||||
Net
assets at beginning of period | 162,474,453 | 153,301,626 | ||||||
Net assets at end of period | $ | 177,876,103 | $ | 162,474,453 | ||||
See
accompanying notes. | ||||||||
SAM | SAM | SAM | |||||||||||||||||
Conservative | Flexible | Strategic | |||||||||||||||||
Growth | Income | Growth | |||||||||||||||||
Portfolio | Portfolio | Portfolio | |||||||||||||||||
Class
1 | Class 1 | Class 1 | |||||||||||||||||
Division | Division | Division | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
$ | 330,267 | $ | (595,294) | $ | 3,861,706 | $ | (354,779) | $ | 3,000 | $ | (475,008) | ||||||||
2,286,381 | 1,044,910 | 10,243,140 | 4,606,745 | 1,108,086 | 733,872 | ||||||||||||||
12,434,806 | 7,041,443 | (2,827,391) | 10,741,686 | 10,293,258 | 5,207,269 | ||||||||||||||
15,051,454 | 7,491,059 | 11,277,455 | 14,993,652 | 11,404,344 | 5,466,133 | ||||||||||||||
— | — | — | — | — | — | ||||||||||||||
15,051,454 | 7,491,059 | 11,277,455 | 14,993,652 | 11,404,344 | 5,466,133 | ||||||||||||||
17,364,595 | 14,668,004 | 43,692,410 | 37,630,418 | 10,568,485 | 6,827,430 | ||||||||||||||
(14,179) | (14,236) | (551,867) | (772,967) | (11,591) | (11,816) | ||||||||||||||
(35,397) | (57,684) | (129,129) | (158,948) | (28,639) | (44,591) | ||||||||||||||
(4,597,380) | (4,155,275) | (13,279,976) | (11,762,051) | (2,857,543) | (2,948,772) | ||||||||||||||
(172,539) | (259,536) | (2,333,983) | (903,083) | (158,066) | (47,415) | ||||||||||||||
(591,953) | (436,371) | (3,927,719) | (3,488,484) | (244,854) | (211,171) | ||||||||||||||
(5,271,329) | (7,281,096) | (34,826,796) | (10,806,998) | (3,205,257) | (7,924,371) | ||||||||||||||
— | — | — | — | — | — | ||||||||||||||
6,681,818 | 2,463,806 | (11,357,060) | 9,737,887 | 4,062,535 | (4,360,706) | ||||||||||||||
21,733,272 | 9,954,865 | (79,605) | 24,731,539 | 15,466,879 | 1,105,427 | ||||||||||||||
67,908,708 | 57,953,843 | 185,716,035 | 160,984,496 | 42,187,532 | 41,082,105 | ||||||||||||||
$ | 89,641,980 | $ | 67,908,708 | $ | 185,636,430 | $ | 185,716,035 | $ | 57,654,411 | $ | 42,187,532 |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Changes
in Net Assets (continued) | ||||||||
Years ended December 31, 2013 and 2012, except as noted | ||||||||
Short-Term | ||||||||
Income | ||||||||
Class
1 | ||||||||
Division | ||||||||
2013 | 2012 | |||||||
Increase (decrease) in net assets | ||||||||
Operations: | ||||||||
Net
investment income (loss) | $ | 777,802 | $ | 1,211,017 | ||||
Total realized gains (losses) on investments | 1,251,473 | 593,209 | ||||||
Change
in net unrealized appreciation or depreciation of investments | (2,420,046) | 3,921,362 | ||||||
Net gains (losses) from investments | (390,771) | 5,725,588 | ||||||
Payment
from affiliate | — | — | ||||||
Net
increase (decrease) in net assets resulting from operations | (390,771) | 5,725,588 | ||||||
Policy
related transactions: | ||||||||
Purchase payments, less sales charges, per payment fees | ||||||||
and
applicable premium taxes | 46,084,233 | 42,487,972 | ||||||
Administration charges | (640,566) | (885,609) | ||||||
Contingent
sales charges | (178,858) | (164,462) | ||||||
Contract terminations | (18,677,383) | (11,944,019) | ||||||
Death
benefit payments | (586,473) | (916,943) | ||||||
Flexible withdrawal option payments | (4,400,320) | (4,303,193) | ||||||
Transfers
to other contracts | (34,180,790) | (20,934,739) | ||||||
Annuity payments | — | — | ||||||
Increase
(decrease) in net assets from policy related transactions | (12,580,157) | 3,339,007 | ||||||
Total increase (decrease) | (12,970,928) | 9,064,595 | ||||||
Net
assets at beginning of period | 166,186,773 | 157,122,178 | ||||||
Net assets at end of period | $ | 153,215,845 | $ | 166,186,773 | ||||
See
accompanying notes. | ||||||||
SmallCap | SmallCap | SmallCap | |||||||||||||||||
Blend | Growth
II | Value I | |||||||||||||||||
Class 1 | Class 1 | Class 1 | |||||||||||||||||
Division | Division | Division | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
$ | (280,255) | $ | (351,128) | $ | (391,877) | $ | (351,047) | $ | (263,614) | $ | (414,919) | ||||||||
1,474,158 | 205,076 | 1,265,464 | 105,591 | 3,523,697 | (1,231,272) | ||||||||||||||
10,375,393 | 3,649,193 | 10,184,722 | 3,918,613 | 22,658,070 | 15,698,204 | ||||||||||||||
11,569,296 | 3,503,141 | 11,058,309 | 3,673,157 | 25,918,153 | 14,052,013 | ||||||||||||||
— | — | — | — | — | — | ||||||||||||||
11,569,296 | 3,503,141 | 11,058,309 | 3,673,157 | 25,918,153 | 14,052,013 | ||||||||||||||
4,475,144 | 2,835,309 | 5,461,131 | 3,601,746 | 9,468,049 | 6,466,959 | ||||||||||||||
(5,204) | (5,376) | (3,848) | (3,865) | (206,429) | (284,195) | ||||||||||||||
(7,963) | (8,460) | (17,970) | (20,624) | (65,405) | (65,151) | ||||||||||||||
(3,877,297) | (2,945,653) | (4,131,424) | (2,759,327) | (8,697,592) | (6,532,246) | ||||||||||||||
(129,266) | (127,971) | (90,042) | (190,080) | (342,688) | (406,002) | ||||||||||||||
(361,106) | (376,702) | (231,931) | (259,079) | (1,226,100) | (1,208,626) | ||||||||||||||
(3,693,408) | (3,979,946) | (3,880,766) | (3,865,804) | (16,777,647) | (12,862,469) | ||||||||||||||
— | — | — | — | — | — | ||||||||||||||
(3,599,100) | (4,608,799) | (2,894,850) | (3,497,033) | (17,847,812) | (14,891,730) | ||||||||||||||
7,970,196 | (1,105,658) | 8,163,459 | 176,124 | 8,070,341 | (839,717) | ||||||||||||||
26,674,108 | 27,779,766 | 25,716,089 | 25,539,965 | 75,361,463 | 76,201,180 | ||||||||||||||
$ | 34,644,304 | $ | 26,674,108 | $ | 33,879,548 | $ | 25,716,089 | $ | 83,431,804 | $ | 75,361,463 |
Principal
Life Insurance Company | ||||||||
Separate Account B | ||||||||
Statements of Changes
in Net Assets (continued) | ||||||||
Years ended December 31, 2013 and 2012, except as noted | ||||||||
T.
Rowe Price | ||||||||
Blue Chip | ||||||||
Growth | ||||||||
Portfolio II | ||||||||
Division | ||||||||
2013 | 2012 | |||||||
Increase
(decrease) in net assets | ||||||||
Operations: | ||||||||
Net investment income (loss) | $ | (134,416) | $ | (107,785) | ||||
Total
realized gains (losses) on investments | 742,074 | 651,012 | ||||||
Change in net unrealized appreciation or depreciation of investments | 2,585,049 | 619,012 | ||||||
Net
gains (losses) from investments | 3,192,707 | 1,162,239 | ||||||
Payment
from affiliate | — | — | ||||||
Net
increase (decrease) in net assets resulting from operations | 3,192,707 | 1,162,239 | ||||||
Policy
related transactions: | ||||||||
Purchase payments, less sales charges, per payment fees | ||||||||
and
applicable premium taxes | 2,794,710 | 2,867,443 | ||||||
Administration charges | (28,933) | (35,329) | ||||||
Contingent
sales charges | (6,008) | (9,013) | ||||||
Contract terminations | (422,992) | (377,748) | ||||||
Death
benefit payments | (12,308) | (6,084) | ||||||
Flexible withdrawal option payments | (116,236) | (98,259) | ||||||
Transfers
to other contracts | (2,222,607) | (2,277,505) | ||||||
Annuity payments | — | — | ||||||
Increase
(decrease) in net assets from policy related transactions | (14,374) | 63,505 | ||||||
Total increase (decrease) | 3,178,333 | 1,225,744 | ||||||
Net
assets at beginning of period | 8,277,911 | 7,052,167 | ||||||
Net assets at end of period | $ | 11,456,244 | $ | 8,277,911 | ||||
See
accompanying notes. | ||||||||
Van
Eck | |||||||||||||||||||
T. Rowe Price | Templeton | Global | |||||||||||||||||
Health | Growth | Hard Assets | |||||||||||||||||
Sciences | Securities | Service | |||||||||||||||||
Portfolio
II | Class 2 | Class | |||||||||||||||||
Division | Division | Division | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
$ | (246,216) | $ | (146,708) | $ | 18,375 | $ | 13,601 | $ | (72,252) | $ | (52,542) | ||||||||
2,440,684 | 1,072,399 | 17,674 | (26,456) | (417,271) | 160,954 | ||||||||||||||
4,258,517 | 1,497,336 | 236,298 | 196,294 | 1,189,309 | 50,120 | ||||||||||||||
6,452,985 | 2,423,027 | 272,347 | 183,439 | 699,786 | 158,532 | ||||||||||||||
— | — | — | — | — | — | ||||||||||||||
6,452,985 | 2,423,027 | 272,347 | 183,439 | 699,786 | 158,532 | ||||||||||||||
9,276,923 | 5,996,414 | 41,431 | 32,377 | 2,468,486 | 3,432,766 | ||||||||||||||
(18,303) | (22,399) | — | — | (812) | (958) | ||||||||||||||
(8,397) | (14,232) | (376) | (175) | (5,184) | (6,504) | ||||||||||||||
(591,159) | (596,511) | (228,519) | (96,930) | (650,656) | (446,689) | ||||||||||||||
(12,537) | (23,023) | — | (1,140) | (27,310) | (57,191) | ||||||||||||||
(135,669) | (88,891) | (17,353) | (15,885) | (62,584) | (56,467) | ||||||||||||||
(5,313,948) | (3,669,340) | (28,164) | (34,311) | (1,439,033) | (2,809,386) | ||||||||||||||
— | — | — | — | — | — | ||||||||||||||
3,196,910 | 1,582,018 | (232,981) | (116,064) | 282,907 | 55,571 | ||||||||||||||
9,649,895 | 4,005,045 | 39,366 | 67,375 | 982,693 | 214,103 | ||||||||||||||
11,742,666 | 7,737,621 | 1,031,720 | 964,345 | 7,902,473 | 7,688,370 | ||||||||||||||
$ | 21,392,561 | $ | 11,742,666 | $ | 1,071,086 | $ | 1,031,720 | $ | 8,885,166 | $ | 7,902,473 |
(2) | Commencement of operations, May 18, 2009. |
(3) | Commencement
of operations, January 4, 2010. |
(4) | Commencement of operations, May 24, 2010. |
(6) | Commencement of operations, May 21, 2012. |
(7) | Commencement
of operations, May 20, 2013. |
(8) | Commencement of operations, December 2, 2013. |
• | Level 1 – Fair values are based on unadjusted quoted prices in active markets for identical assets or liabilities. |
• | Level 2 – Fair values are based
on inputs other than quoted prices within Level 1 that are observable for the asset or liability, either directly or indirectly. |
• | Level 3 – Fair values are based on significant unobservable inputs for the asset or liability. |
Net Assets of Accounts (in millions) | ||||||||||||||
First
$100 | Next $100 | Next $100 | Next $100 | Over $400 | ||||||||||
Balanced Account | 0.60 | 0.55 | 0.50 | 0.45 | 0.40 | |||||||||
Bond
& Mortgage Securities Account | 0.50 | 0.45 | 0.40 | 0.35 | 0.30 | |||||||||
Equity
Income Account | 0.60 | 0.55 | 0.50 | 0.45 | 0.40 | |||||||||
LargeCap
Growth Account I | 0.80 | 0.75 | 0.70 | 0.65 | 0.60 | |||||||||
MidCap
Account | 0.65 | 0.60 | 0.55 | 0.50 | 0.45 | |||||||||
Money
Market Account | 0.50 | 0.45 | 0.40 | 0.35 | 0.30 | |||||||||
Real
Estate Securities Account | 0.90 | 0.85 | 0.80 | 0.75 | 0.70 | |||||||||
SmallCap
Blend Account | 0.85 | 0.80 | 0.75 | 0.70 | 0.65 | |||||||||
SmallCap
Growth Account II | 1.00 | 0.95 | 0.90 | 0.85 | 0.80 | |||||||||
SmallCap
Value Account I | 1.10 | 1.05 | 1.00 | 0.95 | 0.90 | |||||||||
Net
Assets of Accounts (in millions) | ||||||||||||||
First $250 | Next $250 | Next $250 | Next $250 | Over $1,000 | ||||||||||
Diversified International Account | 0.85 | % | 0.80 | % | 0.75 | % | 0.70 | % | 0.65 | % | ||||
International
Emerging Markets Account | 1.25 | 1.20 | 1.15 | 1.10 | 1.05 | |||||||||
LargeCap
Blend Account II | 0.75 | 0.70 | 0.65 | 0.60 | 0.55 | |||||||||
LargeCap
Value Account | 0.60 | 0.55 | 0.50 | 0.45 | 0.40 |
Net
Assets of Accounts | Net Assets of Accounts | ||||||||||||||
(in millions) | (in millions) | ||||||||||||||
First $200 | Next $300 | Over
$500 | First $500 | Over $500 | |||||||||||
Short-Term Income Account | 0.50 | % | 0.45 | % | 0.40 | % | Principal
Capital Appreciation Account | 0.625 | % | 0.50 | % |
Net Assets of Accounts (in millions) | Net
Assets of Accounts | ||||||||||||||||||||
First $500 | Next $500 | Next $1 billion | Next $1 billion | Over $3 billion | First
$2 billion | Over $2 billion | |||||||||||||||
LargeCap Growth Account | 0.68 | % | 0.63 | % | 0.61 | % | 0.56 | % | 0.51 | % | Government
& High Quality Bond Account | 0.50 | % | 0.45 | % |
All Net Assets | ||
Diversified Balanced Account | 0.05 | % |
Diversified
Balanced Managed Volatility Account | 0.05 | |
Diversified Growth Account | 0.05 | |
Diversified Growth Managed Volatility Account | 0.05 | |
Diversified Income Account | 0.05 | |
LargeCap S&P
500 Index Account | 0.25 |
LargeCap Blend Account II | 0.018 | % |
LargeCap
Growth Account I | 0.016 | |
SmallCap Value Account I | 0.020 |
From January
1, 2013 through December 31, 2013 | |||||||
Class 1 | Class 2 | Expiration | |||||
Diversified Balanced Managed Volatility Account | N/A | 0.31 | % | ||||
Diversified Growth Managed Volatility Account | N/A | 0.31 | |||||
SmallCap Value Account I | 0.99 | % | 1.24 |
Expense Limit | ||
Diversified
Balanced Account | 0.31 | % |
Diversified Growth Account | 0.31 | |
Diversified Income Account | 0.31 |
Division | Purchases | Sales | ||||
AllianceBernstein
Small Cap Growth Class A Division: | ||||||
Principal Investment Plus Variable Annuity | $ | 1,627,623 | $ | 848,320 | ||
Principal Investment Plus Variable Annuity with Premium
Payment Credit Rider | 511,571 | 377,600 | ||||
AllianceBernstein Small/Mid Cap Value Class A Division: | ||||||
The
Principal Variable Annuity | 191,980 | 5,260 | ||||
The Principal Variable Annuity with Purchase Payment Credit Rider | — | — | ||||
Principal
Investment Plus Variable Annuity | 609,693 | 416 | ||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 227,356 | 14,240 | ||||
American
Century VP Income & Growth Class I Division: | ||||||
Principal Freedom Variable Annuity | 234,024 | 650,224 | ||||
Principal Freedom Variable Annuity 2 | 7,750 | 4,232 | ||||
The
Principal Variable Annuity | 2,186,039 | 2,676,930 | ||||
The Principal Variable Annuity with Purchase Payment Credit Rider | 14,795 | 815,449 | ||||
American
Century VP Inflation Protection Class II Division: | ||||||
Principal Investment Plus Variable Annuity | 24,633,036 | 20,451,874 | ||||
Principal Investment Plus Variable
Annuity with Premium Payment Credit Rider | 5,019,765 | 7,920,578 | ||||
American Century VP MidCap Value Class II Division: | ||||||
The
Principal Variable Annuity | 679,844 | 575,997 | ||||
The Principal Variable Annuity with Purchase Payment Credit Rider | 60,710 | 58,496 | ||||
Principal
Investment Plus Variable Annuity | 1,111,738 | 938,007 | ||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 228,109 | 19,846 | ||||
American
Century VP Ultra Class I Division: | ||||||
The Principal Variable Annuity | 516,842 | 1,095,354 | ||||
The Principal Variable Annuity with Purchase Payment Credit Rider | 16,196 | 250,472 | ||||
American
Century VP Ultra Class II Division: | ||||||
Principal Investment Plus Variable Annuity | 4,991,311 | 16,632,297 | ||||
Principal Investment Plus Variable Annuity with Premium
Payment Credit Rider | 276,481 | 7,025,501 | ||||
American Century VP Value Class II Division: | ||||||
The
Principal Variable Annuity | 3,009,839 | 5,108,586 | ||||
The Principal Variable Annuity with Purchase Payment Credit Rider | 48,230 | 2,189,897 | ||||
Division | Purchases | Sales | ||||
American
Century VP Vista Class I Division: | $ | $ | ||||
Principal Investment Plus Variable Annuity | 193,064 | 284,086 | ||||
Principal Investment Plus Variable Annuity with Premium
Payment Credit Rider | 48,098 | 208,804 | ||||
Balanced Class 1 Division: | ||||||
Personal
Variable | 42,931 | 52,481 | ||||
Premier Variable | 706,099 | 784,037 | ||||
The
Principal Variable Annuity | 2,711,632 | 6,901,660 | ||||
The Principal Variable Annuity with Purchase Payment Credit Rider | 47,256 | 948,743 | ||||
Bond
& Mortgage Securities Class 1 Division: | ||||||
Personal Variable | 28,965 | 10,443 | ||||
Premier Variable | 1,340,132 | 1,826,385 | ||||
Principal
Freedom Variable Annuity | 667,082 | 1,282,306 | ||||
Principal Freedom Variable Annuity 2 | 109,351 | 240,495 | ||||
The
Principal Variable Annuity | 13,909,046 | 26,018,803 | ||||
The Principal Variable Annuity with Purchase Payment Credit Rider | 396,275 | 5,317,415 | ||||
Principal
Investment Plus Variable Annuity | 25,584,687 | 26,422,181 | ||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 4,942,646 | 11,327,686 | ||||
Delaware
Small Cap Value Service Class Division: | ||||||
The Principal Variable Annuity | 12,962 | 80 | ||||
The Principal Variable Annuity with Purchase Payment Credit Rider | 4,338 | — | ||||
Principal
Investment Plus Variable Annuity | 155,031 | 1,741 | ||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 81,826 | 8,867 | ||||
Diversified
Balanced Class 2 Division: | ||||||
Principal Investment Plus Variable Annuity | 237,094,107 | 73,388,702 | ||||
Principal Investment Plus Variable Annuity with Premium Payment
Credit Rider | 25,448,218 | 8,852,788 | ||||
Principal Lifetime Income Solutions | 20,797,496 | 2,307,912 | ||||
Diversified
Balanced Managed Volatility Class 2 Division: | ||||||
Principal Investment Plus Variable Annuity | 645,593 | 618 | ||||
Principal Investment Plus Variable Annuity with Premium
Payment Credit Rider | — | — | ||||
Principal Lifetime Income Solutions | 224,989 | 300 | ||||
Diversified
Growth Class 2 Division: | ||||||
Principal Investment Plus Variable Annuity | 763,059,556 | 111,277,047 | ||||
Principal Investment Plus Variable Annuity with Premium Payment
Credit Rider | 65,313,535 | 13,157,567 | ||||
Principal Lifetime Income Solutions | 30,497,809 | 1,370,710 | ||||
Diversified
Growth Managed Volatility Class 2 Division: | ||||||
Principal Investment Plus Variable Annuity | 3,095,112 | 3,004 | ||||
Principal Investment Plus Variable Annuity with
Premium Payment Credit Rider | 256,611 | 334 | ||||
Principal Lifetime Income Solutions | 583,337 | 557 | ||||
Diversified
Income Class 2 Division: | ||||||
Principal Investment Plus Variable Annuity | 71,641,227 | 27,238,317 | ||||
Principal Investment Plus Variable Annuity with Premium Payment
Credit Rider | 5,988,995 | 3,237,411 | ||||
Principal Lifetime Income Solutions | 4,327,359 | 261,971 | ||||
Principal
Life Insurance Company Separate Account B Notes to Financial Statements | ||||||
Division | Purchases | Sales | ||||
Diversified International Class 1 Division: | $ | $ | ||||
Personal
Variable | 37,546 | 25,190 | ||||
Premier Variable | 527,725 | 744,161 | ||||
Principal
Freedom Variable Annuity | 189,512 | 877,185 | ||||
Principal Freedom Variable Annuity 2 | 101,760 | 143,861 | ||||
The
Principal Variable Annuity | 12,267,886 | 24,956,914 | ||||
The Principal Variable Annuity with Purchase Payment Credit Rider | 300,238 | 6,061,120 | ||||
Principal
Investment Plus Variable Annuity | 7,535,934 | 10,597,369 | ||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 1,000,450 | 3,982,244 | ||||
Dreyfus
IP Technology Growth Service Shares Division: | ||||||
Principal Investment Plus Variable Annuity | 1,189,333 | 1,006,587 | ||||
Principal Investment Plus Variable Annuity
with Premium Payment Credit Rider | 175,520 | 121,488 | ||||
DWS Small Mid Cap Value Class B Division: | ||||||
The
Principal Variable Annuity | 23,883 | 13,095 | ||||
The Principal Variable Annuity with Purchase Payment Credit Rider | — | — | ||||
Principal
Investment Plus Variable Annuity | 81,614 | 797 | ||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 41,744 | — | ||||
Equity
Income Class 1 Division: | ||||||
Premier Variable | 61,968 | 19,709 | ||||
The Principal Variable Annuity | 9,268,943 | 15,265,610 | ||||
The
Principal Variable Annuity with Purchase Payment Credit Rider | 81,722 | 3,787,056 | ||||
Principal Investment Plus Variable Annuity | 30,284,124 | 53,652,219 | ||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 3,489,387 | 21,686,748 | ||||
Fidelity VIP Contrafund Service Class Division: | ||||||
The
Principal Variable Annuity | 4,276,299 | 11,423,157 | ||||
The Principal Variable Annuity with Purchase Payment Credit Rider | 93,284 | 1,882,962 | ||||
Fidelity
VIP Contrafund Service Class 2 Division: | ||||||
Principal Investment Plus Variable Annuity | 5,822,793 | 10,713,811 | ||||
Principal Investment Plus Variable Annuity with
Premium Payment Credit Rider | 650,567 | 2,946,409 | ||||
Fidelity VIP Equity-Income Service Class 2 Division: | ||||||
The
Principal Variable Annuity | 5,580,679 | 7,397,212 | ||||
The Principal Variable Annuity with Purchase Payment Credit Rider | 60,615 | 2,135,377 | ||||
Principal
Investment Plus Variable Annuity | 2,838,831 | 2,058,667 | ||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 563,506 | 857,883 | ||||
Fidelity
VIP Growth Service Class Division: | ||||||
The Principal Variable Annuity | 1,207,116 | 3,485,613 | ||||
The Principal Variable Annuity with Purchase Payment Credit Rider | 13,976 | 377,907 | ||||
Fidelity
VIP Growth Service Class 2 Division: | ||||||
Principal Investment Plus Variable Annuity | 1,025,568 | 1,118,795 | ||||
Principal Investment Plus Variable Annuity with Premium
Payment Credit Rider | 165,572 | 680,697 |
Principal
Life Insurance Company Separate Account B Notes to Financial Statements | ||||||
Division | Purchases | Sales | ||||
Fidelity VIP Mid Cap Service Class 2 Division: | $ | $ | ||||
Principal
Investment Plus Variable Annuity | 4,397,305 | 2,039,598 | ||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 859,941 | 799,375 | ||||
Fidelity
VIP Overseas Service Class 2 Division: | ||||||
Principal Investment Plus Variable Annuity | 4,842,868 | 10,486,958 | ||||
Principal Investment Plus Variable Annuity with
Premium Payment Credit Rider | 576,696 | 4,559,299 | ||||
Franklin Small Cap Value Securities Class 2 Division: | ||||||
The
Principal Variable Annuity | 146,679 | 2,059 | ||||
The Principal Variable Annuity with Purchase Payment Credit Rider | 1,193 | — | ||||
Principal
Investment Plus Variable Annuity | 1,644,707 | 1,067,003 | ||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 292,817 | 227,233 | ||||
Goldman
Sachs VIT Mid Cap Value Service Class I Division: | ||||||
The Principal Variable Annuity | 57,757 | 694 | ||||
The Principal Variable Annuity with Purchase Payment Credit
Rider | — | — | ||||
Principal Investment Plus Variable Annuity | 3,452,553 | 3,340,601 | ||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 336,079 | 1,497,067 | ||||
Goldman Sachs VIT Structured Small Cap Equity Service Class I Division: | ||||||
The
Principal Variable Annuity | 97,850 | 1,771 | ||||
The Principal Variable Annuity with Purchase Payment Credit Rider | — | — | ||||
Principal
Investment Plus Variable Annuity | 1,474,499 | 1,314,766 | ||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 413,336 | 472,715 | ||||
Government
& High Quality Bond Class 1 Division: | ||||||
Pension Builder Plus | 4,623 | 13,095 | ||||
Pension Builder Plus - Rollover IRA | 1,238 | 473 | ||||
Personal
Variable | 29,293 | 11,377 | ||||
Premier Variable | 1,029,101 | 1,155,272 | ||||
Principal
Freedom Variable Annuity | 416,468 | 711,029 | ||||
Principal Freedom Variable Annuity 2 | 73,783 | 69,860 | ||||
The
Principal Variable Annuity | 13,001,640 | 30,326,097 | ||||
The Principal Variable Annuity with Purchase Payment Credit Rider | 250,573 | 3,725,761 | ||||
Principal
Investment Plus Variable Annuity | 15,756,624 | 17,921,745 | ||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 3,482,277 | 7,607,293 | ||||
International
Emerging Markets Class 1 Division: | ||||||
Premier Variable | 209,349 | 266,786 | ||||
The Principal Variable Annuity | 7,136,821 | 11,009,025 | ||||
The
Principal Variable Annuity with Purchase Payment Credit Rider | 485,395 | 3,001,075 | ||||
Principal Investment Plus Variable Annuity | 8,898,097 | 7,267,990 | ||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 1,768,787 | 2,575,094 | ||||
Invesco American Franchise Series I Division: | ||||||
The
Principal Variable Annuity | 313,979 | 1,123,252 | ||||
The Principal Variable Annuity with Purchase Payment Credit Rider | 5,610 | 38,177 | ||||
Invesco
Core Equity Series I Division: | ||||||
The Principal Variable Annuity | 1,279,172 | 5,225,923 | ||||
The Principal Variable Annuity with Purchase Payment Credit Rider | 434 | 322,698 | ||||
Principal
Life Insurance Company Separate Account B Notes to Financial Statements | ||||
Division | Purchases | Sales | ||
Invesco Global Health Care Series I Division: | ||||
The
Principal Variable Annuity | 3,359,646 | 3,132,317 | ||
The Principal Variable Annuity with Purchase Payment Credit Rider | 37,211 | 360,440 | ||
Invesco
International Growth Series I Division: | ||||
Principal Investment Plus Variable Annuity | $ | 2,647,934 | $ | 2,056,187 |
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 154,675 | 186,347 | ||
Invesco
MidCap Growth Series I Division | ||||
The Principal Variable Annuity | 377,380 | 630,545 | ||
The Principal Variable Annuity with Purchase Payment Credit Rider | 994 | 133,853 | ||
Invesco
Small Cap Equity Series I Division: | ||||
The Principal Variable Annuity | 946,269 | 1,202,637 | ||
The Principal Variable Annuity with Purchase Payment Credit Rider | 11,496 | 353,187 | ||
Principal
Investment Plus Variable Annuity | 754,996 | 961,462 | ||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 408,322 | 427,837 | ||
Invesco
Technology Series I Division: | ||||
The Principal Variable Annuity | 911,499 | 974,299 | ||
The Principal Variable Annuity with Purchase Payment Credit Rider | 33,803 | 366,540 | ||
Invesco
Value Opportunities Series I Division: | ||||
Principal Investment Plus Variable Annuity | 698,588 | 1,057,360 | ||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 309,620 | 301,471 | ||
Janus
Aspen Enterprise Service Shares Division: | ||||
The Principal Variable Annuity | 1,110,230 | 2,671,718 | ||
The Principal Variable Annuity with Purchase Payment Credit Rider | 21,923 | 236,310 | ||
LargeCap
Blend II Class 1 Division: | ||||
The Principal Variable Annuity | 4,453,254 | 10,722,843 | ||
The Principal Variable Annuity with Purchase Payment Credit Rider | 51,717 | 3,593,377 | ||
Principal
Investment Plus Variable Annuity | 7,464,097 | 20,954,690 | ||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 566,250 | 9,536,105 | ||
LargeCap
Growth Class 1 Division: | ||||
Personal Variable | 319,132 | 288,153 | ||
Premier Variable | 2,787,352 | 2,910,486 | ||
The
Principal Variable Annuity | 1,796,520 | 6,953,977 | ||
The Principal Variable Annuity with Purchase Payment Credit Rider | 64,068 | 286,375 | ||
Principal Investment Plus Variable Annuity | 1,498,190 | 2,546,460 | ||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 256,145 | 651,559 | ||
LargeCap Growth I Class 1 Division: | ||||
Premier
Variable | 386,414 | 283,085 | ||
Principal Freedom Variable Annuity | 155,785 | 279,422 | ||
Principal Freedom Variable Annuity 2 | 4,526 | 5,743 | ||
The
Principal Variable Annuity | 7,295,988 | 17,017,651 | ||
The Principal Variable Annuity with Purchase Payment Credit Rider | 63,905 | 2,515,435 | ||
Principal Investment Plus Variable Annuity | 3,606,506 | 2,410,366 | ||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 348,144 | 925,424 | ||
Principal
Life Insurance Company Separate Account B Notes to Financial Statements | ||||
Division | Purchases | Sales | ||
LargeCap S&P 500 Index Class 1 Division: | ||||
Premier
Variable | $ | 305,987 | $ | 184,265 |
Principal Freedom Variable Annuity | 392,416 | 1,327,020 | ||
Principal Freedom Variable Annuity 2 | 219,734 | 234,210 | ||
The
Principal Variable Annuity | 5,553,798 | 10,279,137 | ||
The Principal Variable Annuity with Purchase Payment Credit Rider | 47,870 | 2,357,397 | ||
Principal Investment Plus Variable Annuity | 7,103,668 | 6,645,890 | ||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 1,009,239 | 2,476,248 | ||
LargeCap Value Class 1 Division: | ||||
Bankers
Flexible Annuity | 23,643 | 184,613 | ||
Pension Builder Plus | 48,848 | 135,760 | ||
Pension Builder Plus - Rollover IRA | 7,150 | 10,432 | ||
Personal
Variable | 31,663 | 45,239 | ||
Premier Variable | 852,581 | 1,153,613 | ||
Principal Freedom Variable Annuity | 644,934 | 548,657 | ||
Principal
Freedom Variable Annuity 2 | 33,453 | 82,964 | ||
The Principal Variable Annuity | 4,688,067 | 12,354,151 | ||
The Principal Variable Annuity with Purchase Payment Credit Rider | 92,883 | 1,054,618 | ||
Principal
Investment Plus Variable Annuity | 3,237,353 | 4,142,303 | ||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 867,259 | 1,749,834 | ||
MFS
VIT New Discovery Service Class Division: | ||||
The Principal Variable Annuity | 233,022 | 30,542 | ||
The Principal Variable Annuity with Purchase Payment Credit Rider | 5,203 | 739 | ||
Principal
Investment Plus Variable Annuity | 283,708 | 49,082 | ||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 126,969 | 14,557 | ||
MFS
VIT Utilities Service Class Division: | ||||
Principal Investment Plus Variable Annuity | 4,768,976 | 2,736,573 | ||
Principal Investment Plus Variable Annuity With Purchase Rider | 974,611 | 645,327 | ||
MFS
VIT Value Service Class Division: | ||||
Principal Investment Plus Variable Annuity | 2,616,780 | 1,272,944 | ||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 380,687 | 267,009 | ||
MidCap
Class 1 Division: | ||||
Personal Variable | 121,911 | 43,343 | ||
Premier Variable | 1,273,856 | 1,179,536 | ||
Principal
Freedom Variable Annuity | 1,022,325 | 2,210,298 | ||
Principal Freedom Variable Annuity 2 | 185,149 | 201,251 | ||
The Principal Variable Annuity | 29,700,906 | 47,043,010 | ||
The
Principal Variable Annuity with Purchase Payment Credit Rider | 428,252 | 8,864,029 | ||
Principal Investment Plus Variable Annuity | 27,132,201 | 32,975,947 | ||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 4,472,206 | 13,016,337 | ||
Principal
Life Insurance Company Separate Account B Notes to Financial Statements | ||||||
Division | Purchases | Sales | ||||
Money Market Class 1 Division: | ||||||
Pension
Builder Plus | $ | 12 | $ | 19,827 | ||
Pension Builder Plus - Rollover IRA | — | — | ||||
Personal
Variable | 370,241 | 441,622 | ||||
Premier Variable | 4,118,563 | 4,386,668 | ||||
Principal
Freedom Variable Annuity | 861,177 | 1,405,965 | ||||
Principal Freedom Variable Annuity 2 | 3,776 | 133,960 | ||||
The
Principal Variable Annuity | 16,406,530 | 27,382,364 | ||||
The Principal Variable Annuity with Purchase Payment Credit Rider | 201,879 | 2,662,146 | ||||
Principal
Investment Plus Variable Annuity | 53,147,407 | 51,167,486 | ||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 10,500,568 | 13,377,660 | ||||
Principal
Lifetime Income Solutions | 1,759,273 | 1,759,273 | ||||
Neuberger Berman AMT Large Cap Value I Class Division: | ||||||
Principal
Investment Plus Variable Annuity | 844,524 | 1,721,593 | ||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 63,648 | 462,064 | ||||
Neuberger
Berman AMT Small-Cap Growth S Class Division: | ||||||
Principal Investment Plus Variable Annuity | 515,181 | 843,933 | ||||
Principal Investment Plus Variable Annuity with
Premium Payment Credit Rider | 190,461 | 444,388 | ||||
Neuberger Berman AMT Socially Responsive I Class Division: | ||||||
Principal
Investment Plus Variable Annuity | 790,248 | 1,843,502 | ||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 327,007 | 583,901 | ||||
Oppenheimer
Main Street Small Cap Service Shares Division: | ||||||
The Principal Variable Annuity | 394,691 | 46,565 | ||||
The Principal Variable Annuity with Purchase Payment Credit
Rider | 4,480 | — | ||||
PIMCO All Asset Administrative Class Division: | ||||||
Principal
Investment Plus Variable Annuity | 3,655,542 | 3,041,161 | ||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 789,013 | 823,897 | ||||
PIMCO
High Yield Administrative Class Division: | ||||||
Principal Investment Plus Variable Annuity | 10,181,560 | 8,362,743 | ||||
Principal Investment Plus Variable Annuity with
Premium Payment Credit Rider | 1,915,013 | 3,873,139 | ||||
PIMCO Total Return Administrative Class Division: | ||||||
Principal
Investment Plus Variable Annuity | 8,972,746 | 17,753,538 | ||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 812,920 | 4,441,297 | ||||
Principal
Capital Appreciation Class 1 Division: | ||||||
Principal Freedom Variable Annuity 2 | 9,335 | 11,474 | ||||
Principal Investment Plus Variable Annuity | 5,444,721 | 1,969,281 | ||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 1,630,471 | 416,698 | ||||
Principal
Life Insurance Company Separate Account B Notes to Financial Statements | ||||||
Division | Purchases | Sales | ||||
Principal LifeTime Strategic Income Class 1 Division: | ||||||
Principal
Freedom Variable Annuity 2 | $ | 21,873 | $ | 67,448 | ||
The Principal Variable Annuity | 1,111,014 | 822,321 | ||||
The
Principal Variable Annuity with Purchase Payment Credit Rider | 775 | 186,250 | ||||
Principal Investment Plus Variable Annuity | 2,580,685 | 4,211,309 | ||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 427,937 | 648,630 | ||||
Principal LifeTime 2010 Class 1 Division: | ||||||
Principal
Freedom Variable Annuity 2 | 92,106 | 127,638 | ||||
The Principal Variable Annuity | 795,328 | 448,486 | ||||
The
Principal Variable Annuity with Purchase Payment Credit Rider | — | — | ||||
Principal Investment Plus Variable Annuity | 5,034,392 | 6,670,871 | ||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 151,924 | 2,828,392 | ||||
Principal LifeTime 2020 Class 1 Division: | ||||||
Principal
Freedom Variable Annuity 2 | 146,843 | 521,767 | ||||
The Principal Variable Annuity | 1,901,697 | 1,064,807 | ||||
The
Principal Variable Annuity with Purchase Payment Credit Rider | 2,737 | 298,248 | ||||
Principal Investment Plus Variable Annuity | 14,740,866 | 21,938,402 | ||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 957,775 | 11,715,037 | ||||
Principal LifeTime 2030 Class 1 Division: | ||||||
Principal
Freedom Variable Annuity 2 | 65,968 | 280,066 | ||||
The Principal Variable Annuity | 971,289 | 589,613 | ||||
The
Principal Variable Annuity with Purchase Payment Credit Rider | 2,793 | 17,287 | ||||
Principal Investment Plus Variable Annuity | 4,434,796 | 6,023,202 | ||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 1,010,825 | 1,548,145 | ||||
Principal LifeTime 2040 Class 1 Division: | ||||||
Principal
Freedom Variable Annuity 2 | 78,006 | 41,114 | ||||
The Principal Variable Annuity | 126,764 | 86,908 | ||||
The
Principal Variable Annuity with Purchase Payment Credit Rider | — | — | ||||
Principal Investment Plus Variable Annuity | 1,672,789 | 2,327,175 | ||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 139,670 | 552,700 | ||||
Principal LifeTime 2050 Class 1 Division: | ||||||
Principal
Freedom Variable Annuity 2 | 2,840 | 1,684 | ||||
The Principal Variable Annuity | 380,673 | 70,946 | ||||
The
Principal Variable Annuity with Purchase Payment Credit Rider | 1,819 | 17,577 | ||||
Principal Investment Plus Variable Annuity | 768,893 | 529,052 | ||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 149,457 | 409,084 | ||||
Real Estate Securities Class 1 Division: | ||||||
Premier
Variable | 239,245 | 229,186 | ||||
Principal Freedom Variable Annuity 2 | 77,316 | 99,018 | ||||
The
Principal Variable Annuity | 7,212,388 | 13,637,067 | ||||
The Principal Variable Annuity with Purchase Payment Credit Rider | 200,711 | 3,121,769 | ||||
Principal
Investment Plus Variable Annuity | 8,748,642 | 5,759,674 | ||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 1,707,288 | 2,048,293 | ||||
Principal
Life Insurance Company Separate Account B Notes to Financial Statements | ||||||
Division | Purchases | Sales | ||||
SAM
Balanced Portfolio Class 1 Division: | ||||||
Premier Variable | $ | 492,099 | $ | 358,067 | ||
Principal Freedom Variable Annuity 2 | 179,360 | 387,487 | ||||
The
Principal Variable Annuity | 41,633,552 | 15,801,142 | ||||
The Principal Variable Annuity with Purchase Payment Credit Rider | 1,057,146 | 2,461,121 | ||||
Principal
Investment Plus Variable Annuity | 61,280,027 | 101,512,847 | ||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 17,410,205 | 17,501,868 | ||||
SAM
Conservative Balanced Portfolio Class 1 Division: | ||||||
Principal Freedom Variable Annuity 2 | 189,035 | 102,301 | ||||
The Principal Variable Annuity | 5,872,128 | 6,226,114 | ||||
The
Principal Variable Annuity with Purchase Payment Credit Rider | 65,381 | 1,395,767 | ||||
Principal Investment Plus Variable Annuity | 29,365,269 | 22,906,725 | ||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 4,356,348 | 5,795,485 | ||||
SAM Conservative Growth Portfolio Class 1 Division: | ||||||
Principal
Freedom Variable Annuity 2 | 232,908 | 75,638 | ||||
The Principal Variable Annuity | 4,528,213 | 3,738,477 | ||||
The
Principal Variable Annuity with Purchase Payment Credit Rider | 151,636 | 1,035,057 | ||||
Principal Investment Plus Variable Annuity | 10,730,297 | 4,984,289 | ||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 3,151,253 | 1,948,761 | ||||
SAM Flexible Income Portfolio Class 1 Division: | ||||||
Principal
Freedom Variable Annuity 2 | 182,125 | 119,787 | ||||
The Principal Variable Annuity | 12,393,991 | 11,895,933 | ||||
The
Principal Variable Annuity with Purchase Payment Credit Rider | 1,182,716 | 5,201,374 | ||||
Principal Investment Plus Variable Annuity | 30,398,880 | 33,835,838 | ||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 8,445,769 | 6,609,000 | ||||
SAM Strategic Growth Portfolio Class 1 Division: | ||||||
Principal
Freedom Variable Annuity 2 | 218,545 | 121,238 | ||||
The Principal Variable Annuity | 2,158,065 | 1,793,660 | ||||
The
Principal Variable Annuity with Purchase Payment Credit Rider | 3,654 | 304,962 | ||||
Principal Investment Plus Variable Annuity | 5,667,834 | 3,631,264 | ||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 3,245,946 | 1,377,385 | ||||
Short-Term Income Class 1 Division: | ||||||
Principal
Freedom Variable Annuity | 248,288 | 474,817 | ||||
Principal Freedom Variable Annuity 2 | 8,348 | 136,304 | ||||
The
Principal Variable Annuity | 7,397,956 | 12,053,235 | ||||
The Principal Variable Annuity with Purchase Payment Credit Rider | 100,213 | 1,284,316 | ||||
Principal
Investment Plus Variable Annuity | 35,512,249 | 36,407,878 | ||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 5,816,259 | 10,529,118 | ||||
Principal
Life Insurance Company Separate Account B Notes to Financial Statements | ||||
Division | Purchases | Sales | ||
SmallCap Blend Class 1 Division: | ||||
Premier
Variable | $ | 52,317 | $ | 18,891 |
Principal Freedom Variable Annuity | 166,229 | 565,313 | ||
Principal Freedom Variable Annuity 2 | 42,143 | 53,864 | ||
The
Principal Variable Annuity | 2,657,342 | 6,042,090 | ||
The Principal Variable Annuity with Purchase Payment Credit Rider | 72,332 | 1,233,135 | ||
Principal Investment Plus Variable Annuity | 1,069,906 | 445,736 | ||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 515,497 | 96,092 | ||
SmallCap Growth II Class 1 Division: | ||||
Premier
Variable | 115,693 | 46,630 | ||
Principal Freedom Variable Annuity | 41,681 | 131,572 | ||
Principal Freedom Variable Annuity 2 | 87 | 16,223 | ||
The
Principal Variable Annuity | 2,261,665 | 5,212,398 | ||
The Principal Variable Annuity with Purchase Payment Credit Rider | 8,190 | 760,878 | ||
Principal Investment Plus Variable Annuity | 2,637,801 | 1,938,029 | ||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 396,015 | 642,128 | ||
SmallCap Value I Class 1 Division: | ||||
Premier
Variable | 233,678 | 128,997 | ||
Principal Freedom Variable Annuity 2 | 27,681 | 56,736 | ||
The Principal Variable Annuity | 3,784,791 | 7,843,269 | ||
The
Principal Variable Annuity with Purchase Payment Credit Rider | 95,497 | 2,165,866 | ||
Principal Investment Plus Variable Annuity | 5,356,534 | 13,273,706 | ||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 821,818 | 4,962,849 | ||
T.
Rowe Price Blue Chip Growth Portfolio II Division: | ||||
Principal Investment Plus Variable Annuity | 2,266,993 | 2,536,073 | ||
Principal Investment Plus Variable Annuity | 527,717 | 407,427 | ||
T.
Rowe Price Health Sciences Portfolio II Division: | ||||
Principal Investment Plus Variable Annuity | 7,211,551 | 3,946,264 | ||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 2,925,170 | 2,379,965 | ||
Templeton
Growth Securities Class 2 Division: | ||||
Principal Freedom Variable Annuity | 68,514 | 283,120 | ||
Van
Eck Global Hard Assets Service Class Division: | ||||
The Principal Variable Annuity | 490,664 | 907,675 | ||
The Principal Variable Annuity with Purchase Payment Credit Rider | 2,770 | 78,156 | ||
Principal
Investment Plus Variable Annuity | 1,818,421 | 1,037,282 | ||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 353,514 | 275,090 | ||
2013 | 2012 | ||||||||
Division | Purchased | Redeemed | Purchased | Redeemed | |||||
AllianceBernstein
Small Cap Growth Class A Division: | |||||||||
Principal Investment Plus Variable Annuity | 46,073 | 36,011 | 79,387 | 85,447 | |||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 14,481 | 16,029 | 26,941 | 54,327 | |||||
AllianceBernstein
Small/Mid Cap Value Class A Division: | |||||||||
The Principal Variable Annuity | 17,834 | 417 | — | — | |||||
The
Principal Variable Annuity With Purchase Payment Credit Rider | — | — | — | ||||||
Principal Investment Plus Variable Annuity | 57,039 | 30 | — | — | |||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 21,270 | 1,026 | — | — | |||||
American
Century VP Income & Growth Class I Division: | |||||||||
Principal Freedom Variable Annuity | 11,636 | 43,831 | 3,491 | 25,702 | |||||
Principal
Freedom Variable Annuity 2 | 499 | 275 | 1,647 | 2,089 | |||||
The Principal Variable Annuity | 141,847 | 189,862 | 142,375 | 231,254 | |||||
The
Principal Variable Annuity With Purchase Payment Credit Rider | 960 | 57,836 | 1,530 | 109,420 | |||||
American
Century VP Inflation Protection Class II Division: | |||||||||
Principal Investment Plus Variable Annuity | 1,590,495 | 1,479,340 | 1,081,842 | 974,841 | |||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 324,114 | 572,917 | 226,641 | 228,635 | |||||
American
Century VP MidCap Value Class II Division: | |||||||||
The Principal Variable Annuity | 44,860 | 37,733 | 24,991 | 34,706 | |||||
The
Principal Variable Annuity With Purchase Payment Credit Rider | 4,006 | 3,832 | 1,946 | 6,918 | |||||
Principal Investment Plus Variable Annuity | 71,395 | 62,199 | 120,543 | 65,835 | |||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 14,649 | 1,316 | 3,225 | 617 | |||||
American
Century VP Ultra Class I Division: | |||||||||
The Principal Variable Annuity | 40,018 | 86,908 | 93,855 | 114,320 | |||||
The
Principal Variable Annuity With Purchase Payment Credit Rider | 1,254 | 19,873 | 3,081 | 58,634 | |||||
American
Century VP Ultra Class II Division: | |||||||||
Principal Investment Plus Variable Annuity | 321,488 | 1,094,339 | 360,738 | 817,606 | |||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 17,808 | 462,250 | 103,077 | 276,458 | |||||
American
Century VP Value Class II Division: | |||||||||
The Principal Variable Annuity | 159,697 | 294,539 | 228,646 | 322,880 | |||||
The
Principal Variable Annuity With Purchase Payment Credit Rider | 2,559 | 126,260 | 8,138 | 253,589 | |||||
American
Century VP Vista Class I Division: | |||||||||
Principal Investment Plus Variable Annuity | 11,821 | 15,868 | 59,579 | 64,735 | |||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 2,945 | 11,663 | 286 | 17,577 | |||||
Balanced
Class 1 Division: | |||||||||
Personal Variable | 12,590 | 18,386 | 57,484 | 86,740 | |||||
Premier
Variable | 239,363 | 280,348 | 96,229 | 88,057 | |||||
The Principal Variable Annuity | 87,048 | 268,554 | 133,632 | 267,958 | |||||
The
Principal Variable Annuity With Purchase Payment Credit Rider | 1,517 | 36,917 | 2,081 | 103,620 | |||||
2013 | 2012 | |||||||||
Division | Purchased | Redeemed | Purchased | Redeemed | ||||||
Bond
& Mortgage Securities Class 1 Division: | ||||||||||
Personal Variable | 7,845 | 3,415 | 16,780 | 50,196 | ||||||
Premier
Variable | 457,170 | 664,021 | 276,305 | 141,564 | ||||||
Principal Freedom Variable Annuity | 26,341 | 71,009 | 46,566 | 81,346 | ||||||
Principal
Freedom Variable Annuity 2 | 7,480 | 18,246 | 20,363 | 13,360 | ||||||
The Principal Variable Annuity | 476,370 | 1,098,635 | 836,475 | 1,073,559 | ||||||
The
Principal Variable Annuity With Purchase Payment Credit Rider | 13,572 | 224,526 | 44,960 | 490,225 | ||||||
Principal Investment Plus Variable Annuity | 985,508 | 1,120,891 | 804,598 | 720,304 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 190,388 | 480,547 | 205,396 | 222,834 | ||||||
Delaware
Small Cap Value Service Class Division: | ||||||||||
The Principal Variable Annuity | 1,258 | — | — | — | ||||||
The
Principal Variable Annuity With Purchase Payment Credit Rider | 421 | — | — | — | ||||||
Principal Investment Plus Variable Annuity | 14,581 | 152 | — | — | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 7,696 | 774 | — | — | ||||||
Diversified
Balanced Class 2 Division: | ||||||||||
Principal Investment Plus Variable Annuity | 17,780,210 | 5,009,850 | 18,979,080 | 2,835,954 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 1,908,418 | 604,332 | 1,671,337 | 222,760 | ||||||
Principal Lifetime Income Solutions | 1,589,704 | 151,583 | 901,106 | 36,162 | ||||||
Diversified
Balanced Managed Volatility Class 2 Division: | ||||||||||
Principal Investment Plus Variable Annuity | 64,506 | 34 | — | — | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | — | — | — | — | ||||||
Principal Lifetime Income Solutions | 22,610 | 13 | — | — | ||||||
Diversified
Growth Class 2 Division: | ||||||||||
Principal Investment Plus Variable Annuity | 55,597,020 | 6,793,866 | 34,789,657 | 5,394,641 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 4,758,787 | 803,317 | 2,754,520 | 360,207 | ||||||
Principal Lifetime Income Solutions | 2,249,024 | 82,331 | 432,918 | 14,726 | ||||||
Diversified
Growth Managed Volatility Class 2 Division: | ||||||||||
Principal Investment Plus Variable Annuity | 309,245 | 180 | — | — | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 25,639 | 20 | — | — | ||||||
Principal Lifetime Income Solutions | 58,539 | 24 | — | — | ||||||
Diversified
Income Class 2 Division: | ||||||||||
Principal Investment Plus Variable Annuity | 6,565,483 | 2,415,060 | 5,141,020 | 416,026 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 548,855 | 287,042 | 412,277 | 6,176 | ||||||
Principal Lifetime Income Solutions | 400,339 | 20,057 | 93,997 | 357 | ||||||
Diversified
International Class 1 Division: | ||||||||||
Personal Variable | 10,167 | 7,999 | 23,713 | 139,066 | ||||||
Premier
Variable | 148,103 | 242,862 | 132,333 | 198,343 | ||||||
Principal Freedom Variable Annuity | 7,073 | 53,408 | 9,176 | 36,231 | ||||||
Principal
Freedom Variable Annuity 2 | 7,483 | 12,070 | 9,695 | 36,684 | ||||||
The Principal Variable Annuity | 349,317 | 928,518 | 688,351 | 1,191,781 | ||||||
The
Principal Variable Annuity With Purchase Payment Credit Rider | 8,549 | 225,503 | 36,067 | 544,380 | ||||||
Principal Investment Plus Variable Annuity | 237,102 | 390,104 | 181,812 | 383,983 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 31,477 | 146,592 | 41,387 | 106,197 |
2013 | 2012 | |||||||||
Division | Purchased | Redeemed | Purchased | Redeemed | ||||||
Dreyfus
IP Technology Growth Service Shares Division: | ||||||||||
Principal Investment Plus Variable Annuity | 63,566 | 52,654 | 63,923 | 50,833 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 9,381 | 6,355 | 11,900 | 12,876 | ||||||
DWS
Small Mid Cap Value Class B Division: | ||||||||||
The Principal Variable Annuity | 2,422 | 1,356 | — | — | ||||||
The
Principal Variable Annuity With Purchase Payment Credit Rider | — | — | — | — | ||||||
Principal Investment Plus Variable Annuity | 7,832 | 26 | — | — | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 4,006 | — | — | — | ||||||
Equity
Income Class 1 Division: | ||||||||||
Premier Variable | 40,003 | 13,628 | 15,594 | 18,742 | ||||||
The
Principal Variable Annuity | 612,812 | 1,214,354 | 953,222 | 1,527,612 | ||||||
The Principal Variable Annuity With Purchase Payment Credit Rider | 5,403 | 301,254 | 53,512 | 693,929 | ||||||
Principal
Investment Plus Variable Annuity | 1,949,078 | 4,227,026 | 1,244,506 | 3,290,109 | ||||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 224,576 | 1,708,605 | 186,277 | 862,613 | ||||||
Fidelity
VIP Contrafund Service Class Division: | ||||||||||
The Principal Variable Annuity | 201,796 | 581,531 | 273,524 | 762,517 | ||||||
The
Principal Variable Annuity With Purchase Payment Credit Rider | 4,402 | 95,858 | 10,331 | 205,207 | ||||||
Fidelity
VIP Contrafund Service Class 2 Division: | ||||||||||
Principal Investment Plus Variable Annuity | 297,205 | 552,961 | 357,836 | 572,582 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 33,206 | 152,070 | 37,847 | 101,108 | ||||||
Fidelity
VIP Equity-Income Service Class 2 Division: | ||||||||||
The Principal Variable Annuity | 212,859 | 477,606 | 417,766 | 523,325 | ||||||
The
Principal Variable Annuity With Purchase Payment Credit Rider | 2,312 | 137,872 | 10,663 | 420,402 | ||||||
Principal Investment Plus Variable Annuity | 134,061 | 131,180 | 172,358 | 183,456 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 26,611 | 54,665 | 28,035 | 33,756 | ||||||
Fidelity
VIP Growth Service Class Division: | ||||||||||
The Principal Variable Annuity | 100,100 | 291,111 | 166,255 | 299,055 | ||||||
The
Principal Variable Annuity With Purchase Payment Credit Rider | 1,159 | 31,562 | 2,981 | 112,203 | ||||||
Fidelity
VIP Growth Service Class 2 Division: | ||||||||||
Principal Investment Plus Variable Annuity | 64,369 | 67,557 | 97,482 | 136,805 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 10,392 | 41,103 | 7,282 | 27,086 | ||||||
Fidelity
VIP Mid Cap Service Class 2 Division: | ||||||||||
Principal Investment Plus Variable Annuity | 129,801 | 89,195 | 63,573 | 86,416 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 25,384 | 34,958 | 10,915 | 39,872 | ||||||
Fidelity
VIP Overseas Service Class 2 Division: | ||||||||||
Principal Investment Plus Variable Annuity | 275,223 | 647,101 | 287,407 | 526,069 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 32,774 | 281,333 | 81,261 | 197,336 | ||||||
Franklin
Small Cap Value Securities Class 2 Division: | ||||||||||
The Principal Variable Annuity | 8,482 | 80 | — | — | ||||||
The
Principal Variable Annuity With Purchase Payment Credit Rider | 69 | — | — | — | ||||||
Principal Investment Plus Variable Annuity | 96,587 | 64,964 | 107,437 | 109,702 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 17,196 | 13,835 | 4,930 | 4,489 | ||||||
Principal
Life Insurance Company Separate Account B Notes to Financial Statements | ||||||||||
2013 | 2012 | |||||||||
Division | Purchased | Redeemed | Purchased | Redeemed | ||||||
Goldman
Sachs VIT Mid Cap Value Service Class I Division: | ||||||||||
The Principal Variable Annuity | 2,670 | 21 | — | — | ||||||
The
Principal Variable Annuity With Purchase Payment Credit Rider | — | — | — | — | ||||||
Principal Investment Plus Variable Annuity | 106,295 | 166,496 | 30,872 | 133,713 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 10,347 | 74,614 | 12,195 | 52,901 | ||||||
Goldman
Sachs VIT Structured Small Cap Equity Service Class I Division: | ||||||||||
The Principal Variable Annuity | 5,555 | 73 | — | — | ||||||
The
Principal Variable Annuity With Purchase Payment Credit Rider | — | — | — | — | ||||||
Principal Investment Plus Variable Annuity | 51,562 | 81,915 | 54,729 | 126,660 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 14,454 | 29,452 | 6,384 | 12,729 | ||||||
Government
& High Quality Bond Class 1 Division: | ||||||||||
Pension Builder Plus | 6 | 3,520 | — | 2,786 | ||||||
Pension
Builder Plus - Rollover IRA | — | 42 | — | 45 | ||||||
Personal Variable | 9,088 | 4,044 | 55,513 | 61,624 | ||||||
Premier
Variable | 340,833 | 423,903 | 279,514 | 294,188 | ||||||
Principal Freedom Variable Annuity | 24,629 | 56,859 | 43,556 | 73,302 | ||||||
Principal
Freedom Variable Annuity 2 | 5,115 | 5,573 | 8,255 | 6,292 | ||||||
The Principal Variable Annuity | 787,654 | 2,481,389 | 1,688,821 | 2,289,840 | ||||||
The
Principal Variable Annuity With Purchase Payment Credit Rider | 15,180 | 304,855 | 116,796 | 751,848 | ||||||
Principal Investment Plus Variable Annuity | 1,141,355 | 1,466,577 | 1,486,108 | 1,034,179 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 252,244 | 622,522 | 432,126 | 189,873 | ||||||
International
Emerging Markets Class 1 Division: | ||||||||||
Premier Variable | 50,146 | 67,246 | 24,369 | 24,921 | ||||||
The
Principal Variable Annuity | 187,950 | 317,526 | 239,996 | 336,029 | ||||||
The Principal Variable Annuity With Purchase Payment Credit Rider | 12,783 | 86,558 | 19,722 | 178,544 | ||||||
Principal
Investment Plus Variable Annuity | 243,804 | 206,059 | 206,372 | 214,032 | ||||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 48,464 | 73,008 | 51,594 | 77,482 | ||||||
Invesco
American Franchise Series I Division: | ||||||||||
The Principal Variable Annuity | 26,360 | 96,211 | 540,619 | 87,739 | ||||||
The
Principal Variable Annuity With Purchase Payment Credit Rider | 471 | 3,270 | 10,858 | 5,658 | ||||||
Invesco
Core Equity Series I Division: | ||||||||||
The Principal Variable Annuity | 73,745 | 377,704 | 124,998 | 414,315 | ||||||
The
Principal Variable Annuity With Purchase Payment Credit Rider | 25 | 23,323 | 3,752 | 76,725 | ||||||
Invesco
Global Health Care Series I Division: | ||||||||||
The Principal Variable Annuity | 204,498 | 186,215 | 132,012 | 116,246 | ||||||
The
Principal Variable Annuity With Purchase Payment Credit Rider | 2,265 | 21,428 | 5,413 | 61,844 | ||||||
Invesco
International Growth Series I Division: | ||||||||||
Principal Investment Plus Variable Annuity | 248,145 | 189,479 | 199,212 | 159,163 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 14,495 | 17,172 | 13,843 | 18,241 | ||||||
Invesco
MidCap Growth Series I Division: | ||||||||||
The Principal Variable Annuity | 32,259 | 56,439 | 196,051 | 54,434 | ||||||
The
Principal Variable Annuity With Purchase Payment Credit Rider | 85 | 11,981 | 38,302 | 17,560 |
2013 | 2012 | |||||
Division | Purchased | Redeemed | Purchased | Redeemed | ||
Invesco
Small Cap Equity Series I Division: | ||||||
The Principal Variable Annuity | 47,661 | 60,192 | 51,630 | 78,789 | ||
The
Principal Variable Annuity With Purchase Payment Credit Rider | 579 | 17,677 | 5,034 | 34,786 | ||
Principal Investment Plus Variable Annuity | 35,908 | 45,934 | 62,263 | 83,009 | ||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 19,420 | 20,440 | 8,602 | 13,445 | ||
Invesco
Technology Series I Division: | ||||||
The Principal Variable Annuity | 89,848 | 131,932 | 162,461 | 178,122 | ||
The
Principal Variable Annuity With Purchase Payment Credit Rider | 3,332 | 49,634 | 14,576 | 91,209 | ||
Invesco
Value Opportunities Series I Division: | ||||||
Principal Investment Plus Variable Annuity | 51,698 | 78,589 | 105,528 | 143,106 | ||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 22,913 | 22,407 | 5,562 | 16,724 | ||
Janus
Aspen Enterprise Service Shares Division: | ||||||
The Principal Variable Annuity | 91,461 | 218,296 | 115,655 | 245,302 | ||
The
Principal Variable Annuity With Purchase Payment Credit Rider | 1,806 | 19,308 | 1,789 | 68,130 | ||
LargeCap
Blend II Class 1 Division: | ||||||
The Principal Variable Annuity | 248,250 | 669,357 | 583,051 | 860,768 | ||
The
Principal Variable Annuity With Purchase Payment Credit Rider | 2,883 | 224,311 | 16,093 | 606,149 | ||
Principal Investment Plus Variable Annuity | 392,786 | 1,289,754 | 435,455 | 1,258,555 | ||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 29,798 | 586,944 | 65,858 | 351,918 | ||
LargeCap
Growth Class 1 Division: | ||||||
Personal Variable | 127,907 | 116,168 | 219,035 | 324,097 | ||
Premier
Variable | 1,029,535 | 1,090,870 | 953,441 | 1,017,596 | ||
The Principal Variable Annuity | 56,530 | 280,709 | 99,794 | 330,659 | ||
The
Principal Variable Annuity With Purchase Payment Credit Rider | 2,016 | 11,560 | 5,690 | 52,267 | ||
Principal Investment Plus Variable Annuity | 57,402 | 102,451 | 100,714 | 155,039 | ||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 9,814 | 26,214 | 15,155 | 21,224 | ||
LargeCap
Growth I Class 1 Division: | ||||||
Premier Variable | 247,165 | 192,379 | 6,097 | 3,040 | ||
Principal
Freedom Variable Annuity | 6,848 | 18,401 | 14,254 | 30,265 | ||
Principal Freedom Variable Annuity 2 | 67 | 321 | 1,508 | 2,626 | ||
The
Principal Variable Annuity | 101,382 | 370,995 | 154,200 | 426,148 | ||
The Principal Variable Annuity With Purchase Payment Credit Rider | 888 | 54,838 | 8,275 | 126,484 | ||
Principal
Investment Plus Variable Annuity | 70,277 | 51,441 | 63,914 | 61,830 | ||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 6,784 | 19,750 | 9,016 | 16,349 | ||
LargeCap
S&P 500 Index Class 1 Division: | ||||||
Premier Variable | 204,267 | 127,823 | 44,833 | 29,278 | ||
Principal
Freedom Variable Annuity | 16,901 | 92,203 | 16,164 | 139,161 | ||
Principal Freedom Variable Annuity 2 | 15,701 | 16,923 | 19,300 | 41,113 | ||
The
Principal Variable Annuity | 360,582 | 777,913 | 569,328 | 963,192 | ||
The Principal Variable Annuity With Purchase Payment Credit Rider | 3,108 | 178,405 | 12,944 | 468,004 | ||
Principal
Investment Plus Variable Annuity | 508,457 | 494,943 | 536,406 | 833,283 | ||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 72,238 | 184,415 | 44,122 | 104,419 | ||
2013 | 2012 | |||||||||
Division | Purchased | Redeemed | Purchased | Redeemed | ||||||
LargeCap
Value Class 1 Division: | ||||||||||
Bankers Flexible Annuity | — | 3,817 | — | 5,037 | ||||||
Pension
Builder Plus | 4 | 13,655 | — | 6,027 | ||||||
Pension Builder Plus – Rollover IRA | 781 | 309 | — | 1,701 | ||||||
Personal
Variable | 5,586 | 10,708 | 15,924 | 90,463 | ||||||
Premier Variable | 165,907 | 263,892 | 155,212 | 419,505 | ||||||
Principal
Freedom Variable Annuity | 41,456 | 37,633 | 8,107 | 50,432 | ||||||
Principal Freedom Variable Annuity 2 | 1,978 | 6,394 | 62 | 18,906 | ||||||
The
Principal Variable Annuity | 97,513 | 359,150 | 154,260 | 401,736 | ||||||
The Principal Variable Annuity With Purchase Payment Credit Rider | 1,932 | 30,659 | 3,425 | 122,594 | ||||||
Principal
Investment Plus Variable Annuity | 90,309 | 123,637 | 135,580 | 151,563 | ||||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 24,193 | 52,228 | 14,796 | 31,790 | ||||||
MFS
VIT New Discovery Service Class Division: | ||||||||||
The Principal Variable Annuity | 21,364 | 2,685 | — | — | ||||||
The
Principal Variable Annuity with Purchase Payment Credit Rider | 477 | 65 | — | — | ||||||
Principal Investment Plus Variable Annuity | 25,674 | 4,380 | — | — | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 11,490 | 1,299 | — | — | ||||||
MFS
VIT Utilities Service Class Division: | ||||||||||
Principal Investment Plus Variable Annuity | 239,415 | 140,826 | 178,216 | 97,360 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 48,928 | 33,209 | 26,097 | 7,438 | ||||||
MFS
VIT Value Service Class Division: | ||||||||||
Principal Investment Plus Variable Annuity | 149,382 | 67,707 | 46,208 | 41,446 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 21,732 | 14,202 | 28,450 | 14,634 | ||||||
MidCap
Class 1 Division: | ||||||||||
Personal Variable | 8,592 | 5,197 | 13,768 | 96,956 | ||||||
Premier
Variable | 122,806 | 156,888 | 75,127 | 152,218 | ||||||
Principal Freedom Variable Annuity | 13,544 | 62,553 | 12,014 | 56,451 | ||||||
Principal
Freedom Variable Annuity 2 | 7,784 | 10,434 | 8,588 | 29,932 | ||||||
The Principal Variable Annuity | 253,072 | 699,996 | 369,140 | 794,888 | ||||||
The
Principal Variable Annuity With Purchase Payment Credit Rider | 3,649 | 131,896 | 13,644 | 290,962 | ||||||
Principal Investment Plus Variable Annuity | 303,209 | 492,587 | 304,373 | 513,573 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 49,978 | 194,435 | 40,907 | 123,163 | ||||||
Money
Market Class 1 Division: | ||||||||||
Pension Builder Plus | 6 | 8,358 | — | 4,300 | ||||||
Pension
Builder Plus – Rollover IRA | — | — | — | — | ||||||
Personal Variable | 230,272 | 272,705 | 327,688 | 285,290 | ||||||
Premier
Variable | 2,445,022 | 2,595,321 | 2,212,880 | 2,274,723 | ||||||
Principal Freedom Variable Annuity | 71,432 | 114,865 | 38,816 | 56,461 | ||||||
Principal
Freedom Variable Annuity 2 | 360 | 12,500 | 4,078 | 38,368 | ||||||
The Principal Variable Annuity | 1,198,478 | 1,979,507 | 1,656,911 | 2,282,332 | ||||||
The
Principal Variable Annuity With Purchase Payment Credit Rider | 14,747 | 192,450 | 53,665 | 346,921 | ||||||
Principal Investment Plus Variable Annuity | 3,919,460 | 3,760,485 | 2,580,361 | 2,986,429 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 774,385 | 983,173 | 745,893 | 805,563 | ||||||
Principal Lifetime Income Solutions | 128,316 | 128,316 | 6,964 | 6,964 | ||||||
2013 | 2012 | |||||||||
Division | Purchased | Redeemed | Purchased | Redeemed | ||||||
Neuberger
Berman AMT Large Cap Value I Class Division: | ||||||||||
Principal Investment Plus Variable Annuity | 50,686 | 107,853 | 74,774 | 60,807 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 3,820 | 28,947 | 5,095 | 21,277 | ||||||
Neuberger
Berman AMT Small-Cap Growth S Class Division: | ||||||||||
Principal Investment Plus Variable Annuity | 40,460 | 64,174 | 30,916 | 46,730 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 14,958 | 33,792 | 6,130 | 12,821 | ||||||
Neuberger
Berman AMT Socially Responsive I Class Division: | ||||||||||
Principal Investment Plus Variable Annuity | 44,908 | 103,743 | 30,973 | 57,835 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 18,583 | 32,859 | 6,328 | 14,044 | ||||||
Oppenheimer
Main Street Small Cap Service Shares Division: | ||||||||||
The Principal Variable Annuity | 36,653 | 4,329 | — | — | ||||||
The
Principal Variable Annuity With Purchase Payment Credit Rider | 416 | — | — | — | ||||||
PIMCO
All Asset Administrative Class Division: | ||||||||||
Principal Investment Plus Variable Annuity | 235,730 | 206,943 | 151,584 | 58,850 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 50,880 | 56,064 | 36,032 | 8,310 | ||||||
PIMCO
High Yield Administrative Class Division: | ||||||||||
Principal Investment Plus Variable Annuity | 712,231 | 631,534 | 523,523 | 657,496 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 133,961 | 292,490 | 82,980 | 161,678 | ||||||
PIMCO
Total Return Administrative Class Division: | ||||||||||
Principal Investment Plus Variable Annuity | 636,408 | 1,405,014 | 1,534,310 | 450,487 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 58,080 | 351,484 | 309,352 | 67,534 | ||||||
Principal
Capital Appreciation Class 1 Division: | ||||||||||
Principal Freedom Variable Annuity 2 | 45 | 921 | 967 | 4,415 | ||||||
Principal
Investment Plus Variable Annuity | 232,162 | 139,651 | 311,360 | 202,290 | ||||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 69,523 | 29,550 | 37,861 | 41,481 | ||||||
Principal
LifeTime Strategic Income Class 1 Division: | ||||||||||
Principal Freedom Variable Annuity 2 | — | 4,971 | — | 5,693 | ||||||
The
Principal Variable Annuity | 75,979 | 59,675 | 79,601 | 73,075 | ||||||
The Principal Variable Annuity With Purchase Payment Credit Rider | 53 | 13,516 | 358 | 21,400 | ||||||
Principal
Investment Plus Variable Annuity | 158,283 | 300,102 | 152,437 | 222,653 | ||||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 26,247 | 46,222 | 29,935 | 32,959 | ||||||
Principal
LifeTime 2010 Class 1 Division: | ||||||||||
Principal Freedom Variable Annuity 2 | 3,159 | 8,329 | 1,319 | 43,022 | ||||||
The
Principal Variable Annuity | 53,644 | 29,738 | 18,748 | 32,120 | ||||||
The Principal Variable Annuity With Purchase Payment Credit Rider | — | — | — | 8,494 | ||||||
Principal
Investment Plus Variable Annuity | 301,419 | 456,139 | 145,059 | 306,446 | ||||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 9,096 | 193,399 | 11,786 | 59,525 | ||||||
2013 | 2012 | |||||||||
Division | Purchased | Redeemed | Purchased | Redeemed | ||||||
Principal
LifeTime 2020 Class 1 Division: | ||||||||||
Principal Freedom Variable Annuity 2 | 3,875 | 37,695 | 39,667 | 90,507 | ||||||
The
Principal Variable Annuity | 119,487 | 68,041 | 120,868 | 100,483 | ||||||
The Principal Variable Annuity With Purchase Payment Credit Rider | 172 | 19,058 | 17,628 | 32,708 | ||||||
Principal
Investment Plus Variable Annuity | 759,779 | 1,373,012 | 274,184 | 963,357 | ||||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 49,366 | 733,184 | 70,713 | 268,879 | ||||||
Principal
LifeTime 2030 Class 1 Division: | ||||||||||
Principal Freedom Variable Annuity 2 | 1 | 20,583 | 2,301 | 25,699 | ||||||
The
Principal Variable Annuity | 61,216 | 36,562 | 22,458 | 40,853 | ||||||
The Principal Variable Annuity With Purchase Payment Credit Rider | 176 | 1,072 | 867 | 796 | ||||||
Principal
Investment Plus Variable Annuity | 215,285 | 354,717 | 160,803 | 227,674 | ||||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 49,070 | 91,173 | 21,108 | 150,419 | ||||||
Principal
LifeTime 2040 Class 1 Division: | ||||||||||
Principal Freedom Variable Annuity 2 | 5,432 | 2,950 | 2,326 | — | ||||||
The
Principal Variable Annuity | 8,039 | 5,258 | 9,559 | 1,801 | ||||||
The Principal Variable Annuity With Purchase Payment Credit Rider | — | — | — | 4,292 | ||||||
Principal
Investment Plus Variable Annuity | 96,844 | 141,963 | 118,304 | 131,989 | ||||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 8,086 | 33,716 | 9,800 | 23,107 | ||||||
Principal
LifeTime 2050 Class 1 Division: | ||||||||||
Principal Freedom Variable Annuity 2 | — | — | 3,349 | — | ||||||
The
Principal Variable Annuity | 23,445 | 4,448 | 11,294 | 12,036 | ||||||
The Principal Variable Annuity With Purchase Payment Credit Rider | 112 | 1,102 | 1,075 | 3,802 | ||||||
Principal
Investment Plus Variable Annuity | 44,696 | 31,575 | 78,071 | 40,434 | ||||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 8,688 | 24,415 | 2,610 | 24,069 | ||||||
Real
Estate Securities Class 1 Division: | ||||||||||
Premier Variable | 64,242 | 62,431 | 22,387 | 18,037 | ||||||
Principal
Freedom Variable Annuity 2 | 5,315 | 6,781 | 5,167 | 7,093 | ||||||
The Principal Variable Annuity | 162,602 | 327,244 | 283,725 | 363,625 | ||||||
The
Principal Variable Annuity With Purchase Payment Credit Rider | 4,525 | 74,912 | 13,779 | 207,467 | ||||||
Principal Investment Plus Variable Annuity | 206,555 | 135,243 | 192,524 | 154,648 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 40,309 | 48,096 | 33,156 | 26,799 | ||||||
SAM
Balanced Portfolio Class 1 Division: | ||||||||||
Premier Variable | 290,270 | 123,762 | — | — | ||||||
Principal
Freedom Variable Annuity 2 | 8,615 | 29,013 | 1,419 | 38,109 | ||||||
The Principal Variable Annuity | 3,205,300 | 1,231,305 | 1,061,675 | 1,045,873 | ||||||
The
Principal Variable Annuity With Purchase Payment Credit Rider | 81,388 | 191,783 | 87,520 | 488,768 | ||||||
Principal Investment Plus Variable Annuity | 3,389,717 | 7,485,582 | 1,631,898 | 4,326,672 | ||||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 963,049 | 1,290,592 | 434,467 | 653,788 | ||||||
SAM
Conservative Balanced Portfolio Class 1 Division: | ||||||||||
Principal Freedom Variable Annuity 2 | 9,760 | 6,713 | 33,770 | 31,760 | ||||||
The
Principal Variable Annuity | 410,178 | 480,936 | 449,854 | 597,111 | ||||||
The Principal Variable Annuity With Purchase Payment Credit Rider | 4,567 | 107,816 | 66,956 | 204,973 | ||||||
Principal
Investment Plus Variable Annuity | 1,884,950 | 1,651,000 | 1,063,966 | 1,177,700 | ||||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 279,633 | 417,709 | 184,679 | 269,809 | ||||||
2013 | 2012 | |||||||
Division | Purchased | Redeemed | Purchased | Redeemed | ||||
SAM
Conservative Growth Portfolio Class 1 Division: | ||||||||
Principal Freedom Variable Annuity 2 | 17,281 | 5,377 | 5,962 | 27,935 | ||||
The
Principal Variable Annuity | 362,470 | 309,796 | 367,720 | 339,756 | ||||
The Principal Variable Annuity With Purchase Payment Credit Rider | 12,138 | 85,772 | 19,062 | 207,917 | ||||
Principal
Investment Plus Variable Annuity | 832,190 | 367,146 | 858,760 | 525,469 | ||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 244,396 | 143,547 | 195,372 | 100,827 | ||||
SAM
Flexible Income Portfolio Class 1 Division: | ||||||||
Principal Freedom Variable Annuity 2 | 6,146 | 7,561 | 63,375 | 1,786 | ||||
The
Principal Variable Annuity | 837,618 | 901,167 | 996,289 | 719,864 | ||||
The Principal Variable Annuity With Purchase Payment Credit Rider | 79,931 | 394,026 | 144,924 | 359,734 | ||||
Principal
Investment Plus Variable Annuity | 1,930,245 | 2,489,870 | 1,494,039 | 1,023,801 | ||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 536,283 | 486,335 | 409,362 | 207,967 | ||||
SAM
Strategic Growth Portfolio Class 1 Division: | ||||||||
Principal Freedom Variable Annuity 2 | 17,318 | 9,517 | 2,550 | — | ||||
The
Principal Variable Annuity | 178,974 | 148,216 | 173,655 | 485,883 | ||||
The Principal Variable Annuity With Purchase Payment Credit Rider | 303 | 25,200 | 12,927 | 100,590 | ||||
Principal
Investment Plus Variable Annuity | 467,440 | 276,397 | 390,615 | 489,153 | ||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 267,701 | 104,841 | 127,302 | 86,862 | ||||
Short-Term
Income Class 1 Division: | ||||||||
Principal Freedom Variable Annuity | 17,829 | 38,792 | 28,036 | 39,493 | ||||
Principal
Freedom Variable Annuity 2 | 563 | 11,504 | 28,466 | 27,358 | ||||
The Principal Variable Annuity | 597,147 | 1,015,451 | 802,364 | 886,569 | ||||
The
Principal Variable Annuity With Purchase Payment Credit Rider | 8,089 | 108,200 | 80,890 | 369,969 | ||||
Principal Investment Plus Variable Annuity | 2,864,928 | 3,011,502 | 2,211,957 | 1,663,696 | ||||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 469,223 | 870,923 | 586,831 | 459,517 | ||||
SmallCap
Blend Class 1 Division: | ||||||||
Premier Variable | 31,464 | 12,533 | 8,200 | 8,567 | ||||
Principal
Freedom Variable Annuity | 7,384 | 25,857 | 1,994 | 23,980 | ||||
Principal Freedom Variable Annuity 2 | 3,158 | 4,103 | 4,224 | 6,371 | ||||
The
Principal Variable Annuity | 156,136 | 350,001 | 200,045 | 361,346 | ||||
The Principal Variable Annuity With Purchase Payment Credit Rider | 4,250 | 71,432 | 8,598 | 177,975 | ||||
Principal
Investment Plus Variable Annuity | 64,450 | 24,056 | — | — | ||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 31,053 | 5,186 | — | — | ||||
SmallCap
Growth II Class 1 Division: | ||||||||
Premier Variable | 113,958 | 49,795 | 30,590 | 28,392 | ||||
Principal
Freedom Variable Annuity | 2,971 | 9,486 | 1,349 | 17,869 | ||||
Principal Freedom Variable Annuity 2 | 7 | 1,367 | 22 | 8,753 | ||||
The
Principal Variable Annuity | 158,225 | 359,165 | 184,232 | 317,317 | ||||
The Principal Variable Annuity With Purchase Payment Credit Rider | 573 | 52,429 | 11,586 | 130,182 | ||||
Principal
Investment Plus Variable Annuity | 181,535 | 128,150 | 105,161 | 136,268 | ||||
Principal Investment Plus Variable Annuity with Premium Payment Credit Rider | 27,254 | 42,460 | 17,423 | 34,598 | ||||
2013 | 2012 | |||||
Division | Purchased | Redeemed | Purchased | Redeemed | ||
SmallCap
Value I Class 1 Division: | ||||||
Premier Variable | 101,743 | 59,235 | 22,229 | 6,625 | ||
Principal
Freedom Variable Annuity 2 | 1,988 | 4,499 | 138 | 9,980 | ||
The Principal Variable Annuity | 116,718 | 253,459 | 135,216 | 278,948 | ||
The
Principal Variable Annuity With Purchase Payment Credit Rider | 2,945 | 69,991 | 8,178 | 133,011 | ||
Principal Investment Plus Variable Annuity | 161,618 | 422,458 | 119,192 | 399,150 | ||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 24,796 | 157,951 | 11,269 | 107,031 | ||
T.
Rowe Price Blue Chip Growth Portfolio II Division: | ||||||
Principal Investment Plus Variable Annuity | 128,910 | 138,317 | 179,848 | 178,994 | ||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 30,008 | 22,221 | 23,183 | 18,838 | ||
T.
Rowe Price Health Sciences Portfolio II Division: | ||||||
Principal Investment Plus Variable Annuity | 235,820 | 133,971 | 242,375 | 175,685 | ||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 95,654 | 80,797 | 36,795 | 27,275 | ||
Templeton
Growth Securities Class 2 Division: | ||||||
Principal Freedom Variable Annuity | 2,002 | 14,236 | 2,189 | 9,761 | ||
Van
Eck Global Hard Assets Service Class Division: | ||||||
The Principal Variable Annuity | 29,404 | 61,413 | 83,837 | 65,492 | ||
The
Principal Variable Annuity With Purchase Payment Credit Rider | 166 | 5,288 | 9,197 | 17,270 | ||
Principal Investment Plus Variable Annuity | 119,111 | 68,178 | 133,170 | 140,782 | ||
Principal
Investment Plus Variable Annuity with Premium Payment Credit Rider | 23,156 | 18,081 | 19,827 | 16,868 |
December
31 | For the Year Ended December 31, | |||||||||
Except as Noted | ||||||||||
Units (000's) | Unit Fair Value Corresponding to Lowest to Highest Expense Ratio | Net Assets (000s) | Investment Income Ratio
(1) | Expense Ratio (2) Lowest to Highest | Total Return (3) Lowest to Highest | |||||
Division | ||||||||||
AllianceBernstein
Small Cap Growth Class A Division: | ||||||||||
2013 | 236 | $26.62 to $25.17 | $6,183 | –% | 1.40%
to 2.00% | 43.74% to 42.93% | ||||
2012 | 227 | 18.52 to 17.61 | 4,148 | – | 1.25 to 1.85 | 13.62 to 12.88 | ||||
2011 | 261 | 16.30
to 15.60 | 4,184 | – | 1.25 to 1.85 | 3.16 to 2.56 | ||||
2010 | 234 | 15.80 to 15.21 | 3,666 | – | 1.25
to 1.85 | 35.16 to 34.36 | ||||
2009 | 164 | 11.69 to 11.32 | 1,902 | – | 1.25 to 1.85 | 40.00 to 39.24 | ||||
AllianceBernstein
Small/Mid Cap Value Class A Division: | ||||||||||
2013 (10) | 95 | 11.37 to 11.32 | 1,075 | 0.35 | 1.30
to 2.00 | 13.25 to 12.75 | ||||
American Century VP Income & Growth Class I Division: | ||||||||||
2013 | 942 | 16.52
to 14.62 | 14,985 | 2.19 | 0.85 to 1.90 | 34.75 to 33.27 | ||||
2012 | 1,079 | 12.26 to 10.97 | 12,745 | 2.07 | 0.85
to 1.85 | 13.73 to 12.63 | ||||
2011 | 1,298 | 10.78 to 9.74 | 13,458 | 1.53 | 0.85 to 1.85 | 2.28 to 1.25 | ||||
2010 | 1,644 | 10.54
to 9.62 | 16,653 | 1.52 | 0.85 to 1.85 | 13.09 to 12.12 | ||||
2009 | 1,954 | 9.32 to 8.58 | 17,506 | 4.89 | 0.85
to 1.85 | 17.09 to 15.95 | ||||
American Century VP Inflation Protection Class II Division: | ||||||||||
2013 | 6,186 | 12.87
to 12.17 | 78,840 | 1.62 | 1.40 to 2.00 | (9.68) to (10.18) | ||||
2012 | 6,324 | 14.25 to 13.55 | 89,160 | 2.43 | 1.25
to 1.85 | 6.03 to 5.37 | ||||
2011 | 6,219 | 13.44 to 12.86 | 82,771 | 4.11 | 1.25 to 1.85 | 10.44 to 9.73 | ||||
2010 | 7,137 | 12.17
to 11.72 | 86,144 | 1.68 | 1.25 to 1.85 | 3.75 to 3.17 | ||||
2009 | 6,976 | 11.73 to 11.36 | 81,192 | 1.75 | 1.25
to 1.85 | 8.91 to 8.29 | ||||
December 31 | For
the Year Ended December 31, | |||||||||
Except as Noted | ||||||||||
Units (000's) | Unit Fair Value Corresponding to Lowest to Highest Expense Ratio | Net Assets (000s) | Investment Income Ratio
(1) | Expense Ratio (2) Lowest to Highest | Total Return (3) Lowest to Highest | |||||
Division | ||||||||||
American Century
VP Mid Cap Value Class II Division: | ||||||||||
2013 | 229 | $16.69 to $16.33 | $3,815 | 1.05% | 1.30%
to 2.00% | 28.29% to 27.48% | ||||
2012 | 200 | 13.01 to 12.81 | 2,592 | 1.87 | 1.25 to 1.85 | 14.73 to 14.07 | ||||
2011 | 157 | 11.34
to 11.23 | 1,776 | 1.30 | 1.25 to 1.85 | (2.07) to (2.69) | ||||
2010 (7) | 57 | 11.58 to 11.54 | 663 | 3.40 | 1.25
to 1.85 | 17.33 to 16.92 | ||||
American Century VP Ultra Class I Division: | ||||||||||
2013 | 284 | 14.45
to 13.40 | 4,100 | 0.56 | 1.30 to 1.90 | 35.30 to 34.54 | ||||
2012 | 350 | 10.68 to 9.96 | 3,716 | – | 1.25
to 1.85 | 12.54 to 11.78 | ||||
2011 | 426 | 9.49 to 8.91 | 3,993 | – | 1.25 to 1.85 | (0.21) to (0.78) | ||||
2010 | 526 | 9.51
to 8.98 | 4,935 | 0.55 | 1.25 to 1.85 | 14.58 to 13.96 | ||||
2009 | 629 | 8.30 to 7.88 | 5,126 | 0.29 | 1.25
to 1.85 | 32.80 to 31.99 | ||||
American Century VP Ultra Class II Division: | ||||||||||
2013 | 3,228 | 17.04
to 16.10 | 54,398 | 0.43 | 1.40 to 2.00 | 35.13 to 34.28 | ||||
2012 | 4,445 | 12.61 to 11.99 | 55,372 | – | 1.25
to 1.85 | 12.39 to 11.74 | ||||
2011 | 5,075 | 11.22 to 10.73 | 56,336 | – | 1.25 to 1.85 | (0.36) to (1.01) | ||||
2010 | 5,256 | 11.26
to 10.84 | 58,641 | 0.36 | 1.25 to 1.85 | 14.31 to 13.75 | ||||
2009 | 5,741 | 9.85 to 9.53 | 56,071 | 0.18 | 1.25
to 1.85 | 32.93 to 31.99 | ||||
American Century VP Value Class II Division: | ||||||||||
2013 | 1,035 | 19.07
to 17.79 | 19,713 | 1.49 | 1.30 to 1.90 | 29.82 to 29.10 | ||||
2012 | 1,294 | 14.69 to 13.78 | 18,873 | 1.75 | 1.25
to 1.85 | 13.09 to 12.40 | ||||
2011 | 1,634 | 12.99 to 12.26 | 20,924 | 1.86 | 1.25 to 1.85 | (0.38) to (0.97) | ||||
2010 | 1,961 | 13.04
to 12.38 | 25,180 | 2.05 | 1.25 to 1.85 | 11.64 to 11.03 | ||||
2009 | 2,252 | 11.68 to 11.15 | 25,912 | 5.58 | 1.25
to 1.85 | 18.22 to 17.49 | ||||
American Century VP Vista Class I Division: | ||||||||||
2013 | 151 | 18.58
to 17.57 | 2,758 | – | 1.40 to 2.00 | 28.40 to 27.69 | ||||
2012 | 163 | 14.47 to 13.76 | 2,328 | – | 1.25
to 1.85 | 14.21 to 13.53 | ||||
2011 | 186 | 12.67 to 12.12 | 2,318 | – | 1.25 to 1.85 | (9.05) to (9.62) | ||||
2010 | 219 | 13.93
to 13.41 | 3,007 | – | 1.25 to 1.85 | 22.41 to 21.69 | ||||
2009 | 197 | 11.38 to 11.02 | 2,219 | – | 1.25
to 1.85 | 20.94 to 20.17 | ||||
December 31 | For
the Year Ended December 31, | |||||||||
Except as Noted | ||||||||||
Units (000's) | Unit Fair Value Corresponding to Lowest to Highest Expense Ratio | Net Assets (000s) | Investment Income Ratio
(1) | Expense Ratio (2) Lowest to Highest | Total Return (3) Lowest to Highest | |||||
Division | ||||||||||
Balanced Class
1 Division: | ||||||||||
2013 | 2,369 | $3.05 to $24.54 | $36,507 | 1.78% | 0.42%
to 1.90% | 18.98% to 17.30% | ||||
2012 | 2,633 | 2.46 to 20.92 | 35,867 | 2.04 | 0.42 to 1.85 | 12.33 to 10.92 | ||||
2011 | 2,890 | 2.27
to 18.86 | 36,779 | 2.30 | 0.43 to 1.85 | 3.62 to 2.17 | ||||
2010 | 3,334 | 2.19 to 18.46 | 42,696 | 2.76 | 0.42
to 1.85 | 13.15 to 11.54 | ||||
2009 | 3,884 | 1.94 to 16.55 | 44,052 | 4.94 | 0.41 to 1.85 | 20.65 to 18.98 | ||||
Bond
& Mortgage Securities Class 1 Division: | ||||||||||
2013 | 9,961 | 2.70 to 21.16 | 201,686 | 3.30 | 0.40
to 2.00 | (1.27) to (2.76) | ||||
2012 | 11,477 | 2.63 to 21.76 | 236,260 | 3.77 | 0.41 to 1.85 | 6.86 to 5.58 | ||||
2011 | 12,019 | 2.56
to 20.61 | 235,718 | 0.10 | 0.40 to 1.85 | 6.63 to 5.10 | ||||
2010 | 13,628 | 2.40 to 19.61 | 253,669 | 5.27 | 0.43
to 1.85 | 11.19 to 9.61 | ||||
2009 | 15,157 | 2.16 to 17.89 | 251,405 | 11.41 | 0.40 to 1.85 | 20.41 to 18.71 | ||||
Delaware
Small Cap Value Service Class Division: | ||||||||||
2013 (10) | 23 | 11.40 to 11.35 | 262 | – | 1.30
to 2.00 | 13.66 to 13.16 | ||||
Diversified Balanced Class 2 Division: | ||||||||||
2013 | 63,792 | 13.45
to 13.13 | 856,504 | 0.33 | 1.40 to 2.00 | 11.43 to 10.80 | ||||
2012 | 48,279 | 12.07 to 11.85 | 581,720 | 0.96 | 1.25
to 1.85 | 8.35 to 7.73 | ||||
2011 | 29,822 | 11.14 to 11.00 | 331,823 | 0.96 | 1.25 to 1.85 | (0.71) to 1.66 | ||||
2010 (6) | 15,601 | 10.88
to 10.82 | 169,723 | – | 1.25 to 1.85 | 7.94 to 7.34 | ||||
Diversified
Balanced Managed Volatility Class 2 Division: | ||||||||||
2013 (11) | 87 | 10.07 to 10.06 | 877 | – | 1.40
to 2.00 | 0.90 to 0.80 | ||||
Diversified Growth Class 2 Division: | ||||||||||
2013 | 154,283 | 14.30
to 13.96 | 2,202,298 | 0.45 | 1.40 to 2.00 | 16.45 to 15.75 | ||||
2012 | 99,357 | 12.28 to 12.06 | 1,218,656 | 0.85 | 1.25
to 1.85 | 10.23 to 9.54 | ||||
2011 | 67,150 | 11.14 to 11.01 | 747,474 | 0.75 | 1.25 to 1.85 | (2.45) to 0.36 | ||||
2010 (6) | 29,374 | 11.03
to 10.97 | 323,912 | – | 1.25 to 1.85 | 9.10 to 8.51 | ||||
Diversified
Growth Managed Volatility Class 2 Division: | ||||||||||
2013 (11) | 393 | 10.12 to 10.11 | 3,979 | – | 1.40
to 2.00 | 1.40 to 1.30 | ||||
December 31 | For
the Year Ended December 31, | |||||||||
Except as Noted | ||||||||||
Units (000's) | Unit Fair Value Corresponding to Lowest to Highest Expense Ratio | Net Assets (000s) | Investment Income Ratio
(1) | Expense Ratio (2) Lowest to Highest | Total Return (3) Lowest to Highest | |||||
Division | ||||||||||
Diversified
Income Class 2 Division: Division: | ||||||||||
2013 | 10,017 | $11.20 to $11.09 | $112,081 | 0.11% | 1.40%
to 2.00% | 6.77% to 6.12% | ||||
2012 (9) | 5,225 | 10.49 to 10.45 | 54,791 | – | 1.25 to 1.85 | 4.38 to 3.98 | ||||
Diversified
International Class 1 Division: | ||||||||||
2013 | 7,605 | 3.32 to 26.27 | 183,015 | 2.83 | 0.42
to 2.00 | 17.90 to 16.55 | ||||
2012 | 8,812 | 2.70 to 22.54 | 182,349 | 2.10 | 0.38 to 1.85 | 17.68 to 16.25 | ||||
2011 | 10,327 | 2.39
to 19.39 | 182,722 | 0.44 | 0.44 to 1.85 | (10.58) to (12.54) | ||||
2010 | 11,979 | 2.67 to 22.17 | 237,656 | 2.09 | 0.41
to 1.85 | 13.25 to 11.63 | ||||
2009 (4) | 10,543 | 2.36 to 19.86 | 176,753 | 5.22 | 0.40 to 1.85 | 27.22 to 26.50 | ||||
Dreyfus
IP Technology Growth Service Shares Division: | ||||||||||
2013 | 217 | 21.45 to 20.28 | 4,605 | – | 1.40
to 2.00 | 30.71 to 30.00 | ||||
2012 | 203 | 16.41 to 15.60 | 3,300 | – | 1.25 to 1.85 | 13.96 to 13.21 | ||||
2011 | 191 | 14.40
to 13.78 | 2,726 | – | 1.25 to 1.85 | (9.21) to (9.70) | ||||
2010 | 243 | 15.86 to 15.26 | 3,834 | – | 1.25
to 1.85 | 28.01 to 27.27 | ||||
2009 | 197 | 12.39 to 11.99 | 2,425 | 0.12 | 1.25 to 1.85 | 55.26 to 54.11 | ||||
DWS
Small Mid Cap Value Class B Division: | ||||||||||
2013 (10) | 13 | 11.39 to 11.34 | 146 | – | 1.30
to 2.00 | 13.56 to 13.06 | ||||
Equity Income Class 1 Division: | ||||||||||
2013 | 22,006 | 1.75
to 12.89 | 293,600 | 3.07 | 0.33 to 2.00 | 26.77 to 24.90 | ||||
2012 | 26,639 | 1.38 to 10.32 | 282,998 | 3.01 | 0.38
to 1.85 | 12.54 to 10.97 | ||||
2011 | 30,579 | 1.23 to 9.30 | 291,224 | 0.55 | 0.54 to 1.85 | 5.00 to 3.45 | ||||
2010 | 19,001 | 1.17
to 8.99 | 173,784 | 3.26 | 0.29 to 1.85 | 15.69 to 14.09 | ||||
2009 | 20,376 | 1.01 to 7.88 | 162,644 | 5.86 | 0.55
to 1.85 | 19.23 to 17.79 | ||||
Fidelity VIP Contrafund Service Class Division: | ||||||||||
2013 | 2,372 | 21.55
to 19.92 | 51,076 | 0.93 | 1.30 to 1.90 | 29.43 to 28.68 | ||||
2012 | 2,843 | 16.65 to 15.48 | 47,183 | 1.16 | 1.25
to 1.85 | 14.91 to 14.16 | ||||
2011 | 3,527 | 14.49 to 13.56 | 50,818 | 0.85 | 1.25 to 1.85 | (3.85) to (4.37) | ||||
2010 | 4,237 | 15.07
to 14.18 | 63,341 | 1.05 | 1.25 to 1.85 | 15.66 to 14.91 | ||||
2009 | 5,121 | 13.03 to 12.34 | 66,028 | 1.28 | 1.25
to 1.85 | 33.92 to 33.26 | ||||
December 31 | For
the Year Ended December 31, | |||||||||
Except as Noted | ||||||||||
Units (000's) | Unit Fair Value Corresponding to Lowest to Highest Expense Ratio | Net Assets (000s) | Investment Income Ratio
(1) | Expense Ratio (2) Lowest to Highest | Total Return (3) Lowest to Highest | |||||
Division | ||||||||||
Fidelity VIP
Contrafund Service Class 2 Division: | ||||||||||
2013 | 2,712 | $20.78 to $19.64 | $55,840 | 0.81% | 1.40%
to 2.00% | 29.23% to 28.45% | ||||
2012 | 3,087 | 16.08 to 15.29 | 49,175 | 1.10 | 1.25 to 1.85 | 14.69 to 14.02 | ||||
2011 | 3,365 | 14.02
to 13.41 | 46,781 | 0.80 | 1.25 to 1.85 | (3.97) to (4.56) | ||||
2010 | 3,317 | 14.60 to 14.05 | 48,069 | 1.05 | 1.25
to 1.85 | 15.51 to 14.79 | ||||
2009 | 3,293 | 12.64 to 12.24 | 41,367 | 1.25 | 1.25 to 1.85 | 33.76 to 32.90 | ||||
Fidelity
VIP Equity-Income Service Class 2 Division: | ||||||||||
2013 | 2,399 | 16.64 to 15.51 | 39,708 | 2.19 | 1.30
to 2.00 | 26.25 to 25.38 | ||||
2012 | 2,825 | 13.18 to 12.37 | 36,953 | 2.78 | 1.25 to 1.85 | 15.61 to 14.96 | ||||
2011 | 3,357 | 11.40
to 10.76 | 37,791 | 2.15 | 1.25 to 1.85 | (0.61) to (1.19) | ||||
2010 | 3,931 | 11.47 to 10.89 | 44,413 | 1.59 | 1.25
to 1.85 | 13.45 to 12.85 | ||||
2009 | 4,491 | 10.11 to 9.65 | 44,737 | 2.08 | 1.25 to 1.85 | 28.30 to 27.48 | ||||
Fidelity
VIP Growth Service Class Division: | ||||||||||
2013 | 1,248 | 13.34 to 12.33 | 16,637 | 0.18 | 1.30
to 1.90 | 34.48 to 33.59 | ||||
2012 | 1,469 | 9.92 to 9.23 | 14,548 | 0.47 | 1.25 to 1.85 | 13.11 to 12.42 | ||||
2011 | 1,711 | 8.77
to 8.21 | 14,924 | 0.24 | 1.25 to 1.85 | (1.13) to (1.68) | ||||
2010 | 2,117 | 8.87 to 8.35 | 18,620 | 0.17 | 1.25
to 1.85 | 22.51 to 21.90 | ||||
2009 | 2,477 | 7.24 to 6.85 | 17,734 | 0.33 | 1.25 to 1.85 | 26.57 to 25.69 | ||||
Fidelity
VIP Growth Service Class 2 Division: | ||||||||||
2013 | 467 | 18.15 to 17.16 | 8,346 | 0.05 | 1.40
to 2.00 | 34.25 to 33.44 | ||||
2012 | 501 | 13.52 to 12.86 | 6,666 | 0.34 | 1.25 to 1.85 | 12.95 to 12.31 | ||||
2011 | 560 | 11.97
to 11.45 | 6,609 | 0.12 | 1.25 to 1.85 | (1.24) to (1.89) | ||||
2010 | 666 | 12.12 to 11.67 | 7,988 | 0.03 | 1.25
to 1.85 | 22.30 to 21.56 | ||||
2009 | 657 | 9.91 to 9.60 | 6,438 | 0.21 | 1.25 to 1.85 | 26.40 to 25.65 | ||||
Fidelity
VIP Mid Cap Service Class 2 Division: | ||||||||||
2013 | 623 | 24.80 to 23.45 | 15,323 | 0.29 | 1.40
to 2.00 | 34.05 to 33.31 | ||||
2012 | 592 | 18.50 to 17.59 | 10,855 | 0.38 | 1.25 to 1.85 | 13.15 to 12.47 | ||||
2011 | 644 | 16.35
to 15.64 | 10,432 | 0.02 | 1.25 to 1.85 | (11.95) to (12.48) | ||||
2010 | 693 | 18.57 to 17.87 | 12,784 | 0.14 | 1.25
to 1.85 | 26.93 to 26.20 | ||||
2009 | 522 | 14.63 to 14.16 | 7,571 | 0.48 | 1.25 to 1.85 | 38.02 to 37.21 | ||||
December 31 | For
the Year Ended December 31, | |||||||||
Except as Noted | ||||||||||
Units (000's) | Unit Fair Value Corresponding to Lowest to Highest Expense Ratio | Net Assets (000s) | Investment Income Ratio
(1) | Expense Ratio (2) Lowest to Highest | Total Return (3) Lowest to Highest | |||||
Division | ||||||||||
Fidelity VIP
Overseas Service Class 2 Division: | ||||||||||
2013 | 2,605 | $17.79 to $16.81 | $45,762 | 1.10% | 1.40%
to 2.00% | 28.54% to 27.74% | ||||
2012 | 3,226 | 13.84 to 13.16 | 44,060 | 1.80 | 1.25 to 1.85 | 19.00 to 18.35 | ||||
2011 | 3,580 | 11.63
to 11.12 | 41,148 | 1.29 | 1.25 to 1.85 | (18.27) to (18.83) | ||||
2010 | 3,425 | 14.23 to 13.70 | 48,259 | 1.28 | 1.25
to 1.85 | 11.52 to 10.84 | ||||
2009 | 3,652 | 12.76 to 12.36 | 46,197 | 1.96 | 1.25 to 1.85 | 24.61 to 23.97 | ||||
Franklin
Small Cap Value Securities Class 2 Division: | ||||||||||
2013 | 185 | 18.93 to 18.47 | 3,494 | 1.17 | 1.30
to 2.00 | 17.65 to 33.65 | ||||
2012 | 142 | 14.07 to 13.82 | 1,990 | 0.68 | 1.25 to 1.85 | 16.86 to 16.23 | ||||
2011 | 144 | 12.04
to 11.89 | 1,726 | 0.62 | 1.25 to 1.85 | (4.90) to (5.56) | ||||
2010 (6) | 35 | 12.66 to 12.59 | 447 | 0.42 | 1.25
to 1.85 | 23.75 to 23.07 | ||||
Goldman Sachs VIT Mid Cap Value Institutional Class I Division: | ||||||||||
2013 | 842 | 21.70
to 20.50 | 18,015 | 0.83 | 1.30 to 2.00 | 10.55 to 30.32 | ||||
2012 | 964 | 16.54 to 15.73 | 15,718 | 1.12 | 1.25
to 1.85 | 17.06 to 16.35 | ||||
2011 | 1,108 | 14.13 to 13.52 | 15,462 | 0.75 | 1.25 to 1.85 | (7.59) to (8.09) | ||||
2010 | 1,150 | 15.29
to 14.71 | 17,385 | 0.67 | 1.25 to 1.85 | 23.51 to 22.69 | ||||
2009 | 1,297 | 12.38 to 11.99 | 15,906 | 1.88 | 1.25
to 1.85 | 31.42 to 30.75 | ||||
Goldman Sachs VIT Structured Small Cap Equity Institutional Class I Division: | ||||||||||
2013 | 417 | 17.41
to 16.45 | 7,164 | 0.99 | 1.30 to 2.00 | 14.16 to 32.98 | ||||
2012 | 457 | 13.00 to 12.37 | 5,868 | 1.15 | 1.25
to 1.85 | 11.40 to 10.74 | ||||
2011 | 535 | 11.67 to 11.17 | 6,184 | 0.80 | 1.25 to 1.85 | (0.60) to (1.15) | ||||
2010 | 516 | 11.74
to 11.30 | 6,007 | 0.57 | 1.25 to 1.85 | 28.59 to 27.83 | ||||
2009 | 487 | 9.13 to 8.84 | 4,414 | 1.30 | 1.25
to 1.85 | 26.10 to 25.21 | ||||
Government & High Quality Bond Class 1 Division: | ||||||||||
2013 | 14,619 | 2.66
to 11.32 | 159,944 | 3.86 | 0.42 to 2.00 | (1.44) to (2.83) | ||||
2012 | 17,413 | 2.58 to 11.65 | 196,166 | 3.99 | 0.40
to 1.85 | 3.25 to 1.92 | ||||
2011 | 18,006 | 2.61 to 11.43 | 197,866 | 0.18 | 0.39 to 1.85 | 5.78 to 4.29 | ||||
2010 | 20,724 | 2.47
to 10.96 | 216,707 | 5.00 | 0.44 to 1.85 | 5.71 to 3.98 | ||||
2009 | 1,180 | 10.66 to 10.54 | 12,511 | 8.98 | 0.85
to 1.85 | 5.54 to 103.87 | ||||
December 31 | For
the Year Ended December 31, | |||||||||
Except as Noted | ||||||||||
Units (000's) | Unit Fair Value Corresponding to Lowest to Highest Expense Ratio | Net Assets (000s) | Investment Income Ratio
(1) | Expense Ratio (2) Lowest to Highest | Total Return (3) Lowest to Highest | |||||
Division | ||||||||||
International
Emerging Markets Class 1 Division: | ||||||||||
2013 | 2,369 | $3.77 to $30.95 | $74,988 | 2.37% | 0.40%
to 2.00% | (5.42)% to (6.47)% | ||||
2012 | 2,577 | 3.99 to 33.09 | 86,313 | 1.30 | 0.37 to 1.85 | 20.29 to 18.60 | ||||
2011 | 2,866 | 3.32
to 27.90 | 80,663 | 0.26 | 0.44 to 1.85 | (17.77) to (19.01) | ||||
2010 | 3,189 | 4.03 to 34.45 | 108,919 | 1.25 | 0.41
to 1.85 | 18.76 to 17.10 | ||||
2009 (4) | 3,554 | 3.40 to 29.42 | 103,506 | 2.08 | 0.42 to 1.85 | 68.27 to 66.50 | ||||
Invesco
American Franchise Series I Division: | ||||||||||
2013 (12) | 385 | 13.39 to 13.26 | 5,160 | 0.43 | 1.30
to 1.90 | 38.33 to 37.55 | ||||
2012 (8) | 458 | 9.68 to 9.64 | 4,432 | – | 1.25 to 1.85 | (3.30) to (3.70) | ||||
Invesco
Core Equity Series I Division: | ||||||||||
2013 | 1,606 | 14.71 to 13.59 | 23,623 | 1.34 | 1.30
to 1.90 | 27.69 to 26.77 | ||||
2012 | 1,934 | 11.52 to 10.72 | 22,263 | 0.95 | 1.25 to 1.85 | 12.39 to 11.78 | ||||
2011 | 2,296 | 10.25
to 9.59 | 23,462 | 0.93 | 1.25 to 1.85 | (1.25) to (1.84) | ||||
2010 | 2,686 | 10.38 to 9.77 | 27,717 | 0.95 | 1.25
to 1.85 | 8.12 to 7.48 | ||||
2009 | 3,316 | 9.60 to 9.09 | 31,520 | 1.80 | 1.25 to 1.85 | 26.82 to 26.07 | ||||
Invesco
Global Health Care Series I Division: | ||||||||||
2013 | 551 | 19.06 to 17.67 | 10,479 | 0.69 | 1.30
to 1.90 | 38.82 to 37.94 | ||||
2012 | 551 | 13.73 to 12.81 | 7,547 | – | 1.25 to 1.85 | 19.39 to 18.72 | ||||
2011 | 592 | 11.50
to 10.79 | 6,751 | – | 1.25 to 1.85 | 2.68 to 1.98 | ||||
2010 | 663 | 11.20 to 10.58 | 7,323 | – | 1.25
to 1.85 | 3.99 to 3.42 | ||||
2009 | 818 | 10.77 to 10.23 | 8,655 | 0.34 | 1.25 to 1.85 | 25.96 to 25.37 | ||||
Invesco
International Growth Series I Division: | ||||||||||
2013 | 791 | 11.22 to 10.85 | 8,853 | 1.35 | 1.40
to 2.00 | 17.61 to 16.92 | ||||
2012 | 735 | 9.54 to 9.28 | 6,999 | 1.65 | 1.25 to 1.85 | 14.25 to 13.59 | ||||
2011 | 700 | 8.35
to 8.17 | 5,831 | 1.58 | 1.25 to 1.85 | (7.73) to (8.20) | ||||
2010 | 503 | 9.05 to 8.90 | 4,542 | 2.48 | 1.25
to 1.85 | 11.45 to 10.70 | ||||
2009 | 400 | 8.12 to 8.04 | 3,243 | 2.96 | 1.25 to 1.85 | 33.55 to 32.89 | ||||
Invesco
MidCap Growth Series I Division: | ||||||||||
2013 (13) | 126 | 13.25 to 13.12 | 1,672 | 0.39 | 1.30
to 1.90 | 35.34 to 34.56 | ||||
2012 (8) | 162 | 9.79 to 9.75 | 1,589 | – | 1.25 to 1.85 | (2.59) to (2.99) | ||||
December 31 | For
the Year Ended December 31, | |||||||||
Except as Noted | ||||||||||
Units (000's) | Unit Fair Value Corresponding to Lowest to Highest Expense Ratio | Net Assets (000s) | Investment Income Ratio
(1) | Expense Ratio (2) Lowest to Highest | Total Return (3) Lowest to Highest | |||||
Division | ||||||||||
Invesco Small
Cap Equity Series I Division: | ||||||||||
2013 | 469 | $22.79 to $21.53 | $10,623 | 0.01% | 1.30%
to 2.00% | 35.74% to 34.82% | ||||
2012 | 510 | 16.79 to 15.97 | 8,502 | – | 1.25 to 1.85 | 12.46 to 11.83 | ||||
2011 | 592 | 14.93
to 14.28 | 8,774 | – | 1.25 to 1.85 | (1.97) to (2.59) | ||||
2010 | 498 | 15.23 to 14.66 | 7,524 | – | 1.25
to 1.85 | 27.02 to 26.27 | ||||
2009 | 476 | 11.99 to 11.61 | 5,662 | 0.20 | 1.25 to 1.85 | 19.78 to 19.08 | ||||
Invesco
Technology Series I Division: | ||||||||||
2013 | 410 | 8.37 to 7.76 | 3,426 | – | 1.30
to 1.90 | 23.45 to 22.78 | ||||
2012 | 498 | 6.78 to 6.32 | 3,350 | – | 1.25 to 1.85 | 9.89 to 9.15 | ||||
2011 | 591 | 6.17
to 5.79 | 3,591 | 0.17 | 1.25 to 1.85 | (6.23) to (6.76) | ||||
2010 | 772 | 6.58 to 6.21 | 4,981 | – | 1.25
to 1.85 | 19.85 to 19.19 | ||||
2009 | 1,000 | 5.49 to 5.21 | 5,388 | – | 1.25 to 1.85 | 55.52 to 54.60 | ||||
Invesco
Value Opportunities Series I Division: | ||||||||||
2013 (14) | 401 | 14.26 to 13.48 | 5,666 | 1.46 | 1.40
to 2.00 | 32.04 to 31.13 | ||||
2012 | 428 | 10.80 to 10.28 | 4,582 | 1.43 | 1.25 to 1.85 | 16.13 to 15.64 | ||||
Janus
Aspen Enterprise Service Shares Division: | ||||||||||
2013 | 744 | 13.35 to 12.34 | 9,931 | 0.36 | 1.30
to 1.90 | 30.37 to 29.62 | ||||
2012 | 889 | 10.24 to 9.52 | 9,083 | – | 1.25 to 1.85 | 15.45 to 14.84 | ||||
2011 | 1,085 | 8.87
to 8.29 | 9,564 | – | 1.25 to 1.85 | (2.85) to (3.49) | ||||
2010 | 1,395 | 9.13 to 8.59 | 12,638 | – | 1.25
to 1.85 | 24.05 to 23.24 | ||||
2009 | 1,712 | 7.36 to 6.97 | 12,455 | – | 1.25 to 1.85 | 42.64 to 41.67 | ||||
LargeCap
Blend II Class 1 Division: | ||||||||||
2013 | 7,750 | 17.69 to 16.49 | 135,701 | 1.41 | 1.30
to 2.00 | 29.79 to 28.93 | ||||
2012 | 9,846 | 13.63 to 12.79 | 132,633 | 1.29 | 1.25 to 1.85 | 13.77 to 13.09 | ||||
2011 | 11,823 | 11.98
to 11.31 | 139,819 | 0.03 | 1.25 to 1.85 | (1.40) to (1.99) | ||||
2010 | 13,116 | 12.15 to 11.54 | 157,179 | 2.47 | 1.25
to 1.85 | 11.88 to 11.18 | ||||
2009 | 14,829 | 10.86 to 10.38 | 159,053 | 1.87 | 1.25 to 1.85 | 28.07 to 27.36 | ||||
December 31 | For
the Year Ended December 31, | |||||||||
Except as Noted | ||||||||||
Units (000's) | Unit Fair Value Corresponding to Lowest to Highest Expense Ratio | Net Assets (000s) | Investment Income Ratio
(1) | Expense Ratio (2) Lowest to Highest | Total Return (3) Lowest to Highest | |||||
Division | ||||||||||
LargeCap Growth
Class 1 Division: | ||||||||||
2013 | 3,571 | $2.99 to $24.65 | $55,522 | 1.44% | 0.42%
to 2.00% | 33.35% to 31.40% | ||||
2012 | 3,916 | 2.16 to 18.76 | 48,013 | 0.29 | 0.41 to 1.85 | 16.10 to 14.67 | ||||
2011 | 4,423 | 1.93
to 16.36 | 47,766 | – | 0.44 to 1.85 | (4.63) to (5.98) | ||||
2010 | 5,184 | 2.02 to 17.40 | 59,163 | 0.06 | 0.42
to 1.85 | 17.88 to 16.23 | ||||
2009 | 6,145 | 1.72 to 14.97 | 58,964 | 0.76 | 0.40 to 1.85 | 26.48 to 24.65 | ||||
LargeCap
Growth I Class 1 Division: | ||||||||||
2013 | 2,572 | 1.91 to 47.26 | 114,518 | 0.38 | 0.40
to 2.00 | 35.57 to 33.54 | ||||
2012 | 2,847 | 1.41 to 35.39 | 97,185 | 0.07 | 0.44 to 1.85 | 15.89 to 14.23 | ||||
2011 | 3,256 | 1.22
to 30.98 | 97,585 | – | 0.44 to 1.85 | (0.74) to (2.15) | ||||
2010 | 3,814 | 1.23 to 31.66 | 116,970 | 0.13 | 0.53
to 1.85 | 19.10 to 17.43 | ||||
2009 | 4,745 | 1.03 to 26.96 | 118,873 | 0.05 | 0.49 to 1.85 | 52.05 to 49.86 | ||||
LargeCap
S&P 500 Index Class 1 Division: | ||||||||||
2013 | 7,202 | 1.76 to 13.30 | 101,189 | 1.22 | 0.40
to 2.00 | 31.49 to 29.50 | ||||
2012 | 7,893 | 1.34 to 10.27 | 85,828 | 1.07 | 0.41 to 1.85 | 15.02 to 13.36 | ||||
2011 | 9,228 | 1.17
to 9.06 | 88,077 | 0.05 | 0.50 to 1.85 | 1.31 to (0.11) | ||||
2010 | 10,207 | 1.15 to 9.07 | 96,644 | 1.44 | 0.21
to 1.85 | 14.19 to 12.67 | ||||
2009 | 11,964 | 1.01 to 8.05 | 96,031 | 4.51 | 0.37 to 1.85 | 25.78 to 23.85 | ||||
LargeCap
Value Class 1 Division: | ||||||||||
2013 | 4,234 | 4.78 to 33.54 | 95,526 | 2.52 | 0.43
to 2.00 | 30.28 to 28.36 | ||||
2012 | 4,706 | 3.51 to 26.13 | 84,330 | 1.26 | 0.42 to 1.85 | 17.82 to 16.39 | ||||
2011 | 5,519 | 36.07
to 22.45 | 83,241 | – | 0.31 to 1.85 | 0.69 to (0.66) | ||||
2010 | 6,439 | 35.82 to 22.60 | 97,515 | 1.77 | 0.29
to 1.85 | 13.54 to 11.99 | ||||
2009 | 7,449 | 31.55 to 20.18 | 99,153 | 5.02 | 0.35 to 1.85 | 15.90 to 14.14 | ||||
MFS
VIT New Discovery Service Class Division: | ||||||||||
2013 (10) | 51 | 11.84 to 11.79 | 598 | – | 1.30
to 2.00 | 17.00 to 16.50 | ||||
MFS VIT Utilities Service Class Division: | ||||||||||
2013 | 425 | 20.38
to 19.82 | 8,631 | 2.03 | 1.40 to 2.00 | 18.70 to 17.98 | ||||
2012 | 311 | 17.17 to 16.80 | 5,324 | 6.80 | 1.25
to 1.85 | 11.78 to 11.11 | ||||
2011 | 212 | 15.36 to 15.12 | 3,243 | 3.24 | 1.25 to 1.85 | 5.21 to 4.56 | ||||
2010 | 111 | 14.60
to 14.46 | 1,619 | 2.09 | 1.25 to 1.85 | 12.05 to 11.40 | ||||
2009 (5) | 46 | 13.03 to 12.98 | 594 | – | 1.25
to 1.85 | 27.62 to 27.13 | ||||
Principal
Life Insurance Company Separate Account B Notes to Financial Statements | ||||||||||
December
31 | For the Year Ended December 31, | |||||||||
Except as Noted | ||||||||||
Units (000's) | Unit Fair Value Corresponding to Lowest to Highest Expense Ratio | Net Assets (000s) | Investment Income Ratio
(1) | Expense Ratio (2) Lowest to Highest | Total Return (3) Lowest to Highest | |||||
Division | ||||||||||
MFS VIT Value
Service Class Division: | ||||||||||
2013 | 222 | $20.09 to $19.54 | $4,442 | 1.11% | 1.40%
to 2.00% | 33.84% to 33.02% | ||||
2012 | 133 | 15.01 to 14.69 | 1,987 | 1.32 | 1.25 to 1.85 | 14.41 to 13.79 | ||||
2011 | 114 | 13.12
to 12.91 | 1,498 | 1.29 | 1.25 to 1.85 | (1.65) to (2.27) | ||||
2010 | 109 | 13.34 to 13.21 | 1,459 | 1.08 | 1.25
to 1.85 | 9.79 to 9.17 | ||||
2009 (5) | 38 | 12.15 to 12.10 | 467 | – | 1.25 to 1.85 | 18.31 to 17.82 | ||||
MidCap
Class 1 Division: | ||||||||||
2013 (15) | 6,669 | 8.41 to 67.62 | 412,319 | 1.44 | 0.43
to 2.00 | 33.37 to 31.38 | ||||
2012 | 7,660 | 6.06 to 51.47 | 362,857 | 0.87 | 0.42 to 1.85 | 18.68 to 17.24 | ||||
2011 | 8,881 | 5.30
to 43.90 | 355,563 | – | 0.44 to 1.85 | 7.84 to 6.32 | ||||
2010 | 10,174 | 4.92 to 41.29 | 378,975 | 2.61 | 0.44
to 1.85 | 23.58 to 21.84 | ||||
2009 | 8,467 | 3.98 to 33.89 | 245,427 | 0.86 | 0.40 to 1.85 | 33.20 to 31.31 | ||||
Money
Market Class 1 Division: | ||||||||||
2013 | 6,956 | 2.42 to 12.58 | 65,639 | – | 0.00
to 2.00 | (1.00) to (1.87) | ||||
2012 | 8,221 | 2.19 to 12.82 | 81,007 | – | 0.00 to 1.85 | (1.49) to (1.84) | ||||
2011 | 9,682 | 2.47
to 13.06 | 101,686 | – | 0.00 to 1.85 | (0.99) to (1.88) | ||||
2010 | 10,709 | 1.70 to 13.31 | 115,064 | – | 0.40
to 1.85 | (0.42) to (1.84) | ||||
2009 | 14,990 | 1.71 to 13.56 | 164,649 | 0.32 | 0.43 to 1.85 | (0.20) to (1.60) | ||||
Neuberger
Berman AMT Large Cap Value I Class Division: | ||||||||||
2013 | 312 | 17.66 to 16.70 | 5,443 | 1.11 | 1.40
to 2.00 | 29.38 to 28.66 | ||||
2012 | 394 | 13.65 to 12.98 | 5,317 | 0.41 | 1.25 to 1.85 | 15.19 to 14.46 | ||||
2011 | 396 | 11.85
to 11.34 | 4,642 | – | 1.25 to 1.85 | (12.48) to (12.97) | ||||
2010 | 395 | 13.54 to 13.03 | 5,296 | 0.62 | 1.25
to 1.85 | 14.26 to 13.50 | ||||
2009 | 456 | 11.85 to 11.48 | 5,364 | 2.65 | 1.25 to 1.85 | 54.10 to 53.27 | ||||
Neuberger
Berman AMT Small Cap Growth S Class Division: | ||||||||||
2013 | 256 | 14.87 to 14.05 | 3,748 | – | 1.40
to 2.00 | 43.95 to 43.08 | ||||
2012 | 299 | 10.33 to 9.82 | 3,038 | – | 1.25 to 1.85 | 7.49 to 6.74 | ||||
2011 | 321 | 9.61
to 9.20 | 3,046 | – | 1.25 to 1.85 | (2.34) to (2.85) | ||||
2010 | 330 | 9.84 to 9.47 | 3,211 | – | 1.25
to 1.85 | 18.13 to 17.49 | ||||
2009 | 338 | 8.33 to 8.06 | 2,780 | – | 1.25 to 1.85 | 21.25 to 20.48 | ||||
December 31 | For
the Year Ended December 31, | |||||||||
Except as Noted | ||||||||||
Units (000's) | Unit Fair Value Corresponding to Lowest to Highest Expense Ratio | Net Assets (000s) | Investment Income Ratio
(1) | Expense Ratio (2) Lowest to Highest | Total Return (3) Lowest to Highest | |||||
Division | ||||||||||
Neuberger Berman
AMT Socially Responsive I Class Division: | ||||||||||
2013 | 387 | $19.42 to $18.35 | $7,439 | 0.68% | 1.40%
to 2.00% | 35.80% to 34.93% | ||||
2012 | 460 | 14.30 to 13.60 | 6,518 | 0.23 | 1.25 to 1.85 | 9.66 to 8.97 | ||||
2011 | 495 | 13.04
to 12.48 | 6,401 | 0.35 | 1.25 to 1.85 | (4.33) to (4.88) | ||||
2010 | 470 | 13.63 to 13.12 | 6,359 | 0.04 | 1.25
to 1.85 | 21.37 to 20.59 | ||||
2009 | 477 | 11.23 to 10.88 | 5,324 | 2.33 | 1.25 to 1.85 | 29.83 to 29.06 | ||||
Oppenheimer
Main Street Small Cap Service Shares Division: | ||||||||||
2013 (10) | 33 | 11.53 to 11.49 | 378 | 0.06 | 1.30
to 1.90 | 15.07 to 14.67 | ||||
PIMCO All Asset Administrative Class Division: | ||||||||||
2013 | 346 | 14.51
to 14.12 | 4,994 | 4.45 | 1.40 to 2.00 | (1.09) to (1.60) | ||||
2012 | 322 | 14.67 to 14.35 | 4,703 | 5.79 | 1.25
to 1.85 | 13.54 to 12.81 | ||||
2011 | 201 | 12.92 to 12.72 | 2,597 | 6.77 | 1.25 to 1.85 | 0.70 to 0.08 | ||||
2010 | 234 | 12.83
to 12.71 | 2,994 | 9.57 | 1.25 to 1.85 | 11.66 to 11.00 | ||||
2009 (5) | 45 | 11.49 to 11.45 | 519 | 15.41 | 1.25
to 1.85 | 14.21 to 13.82 | ||||
PIMCO High Yield Administrative Class Division: | ||||||||||
2013 | 1,048 | 13.60
to 13.28 | 14,204 | 5.56 | 1.40 to 2.00 | 4.37 to 3.75 | ||||
2012 | 1,126 | 13.03 to 12.80 | 14,597 | 5.82 | 1.25
to 1.85 | 12.91 to 12.18 | ||||
2011 | 1,338 | 11.54 to 11.41 | 15,396 | 6.67 | 1.25 to 1.85 | 2.03 to 1.51 | ||||
2010 (6) | 714 | 11.31
to 11.24 | 8,052 | 6.63 | 1.25 to 1.85 | 12.65 to 11.95 | ||||
PIMCO
Total Return Administrative Class Division: | ||||||||||
2013 | 2,556 | 12.21 to 11.87 | 31,116 | 2.20 | 1.40
to 2.00 | (3.17) to (3.81) | ||||
2012 | 3,618 | 12.61 to 12.34 | 45,490 | 2.48 | 1.25 to 1.85 | 8.24 to 7.59 | ||||
2011 | 2,292 | 11.65
to 11.47 | 26,662 | 2.60 | 1.25 to 1.85 | 2.28 to 1.68 | ||||
2010 | 1,460 | 11.39 to 11.28 | 16,609 | 2.31 | 1.25
to 1.85 | 6.75 to 6.11 | ||||
2009 (5) | 401 | 10.67 to 10.63 | 4,273 | 3.19 | 1.25 to 1.85 | 6.70 to 6.30 | ||||
Principal
Capital Appreciation Class 1 Division: | ||||||||||
2013 | 1,169 | 14.80 to 13.93 | 16,817 | 6.72 | 0.95
to 2.00 | 31.44 to 30.19 | ||||
2012 | 1,038 | 11.26 to 10.70 | 11,418 | 1.13 | 0.95 to 1.85 | 12.71 to 11.69 | ||||
2011 | 936 | 9.99
to 9.58 | 9,164 | – | 0.95 to 1.85 | (0.79) to (1.64) | ||||
2010 | 754 | 10.07 to 9.74 | 7,466 | 1.80 | 0.95
to 1.85 | 14.30 to 13.26 | ||||
2009 | 537 | 8.81 to 8.60 | 4,670 | 1.68 | 0.95 to 1.85 | 28.61 to 27.41 | ||||
Principal
Life Insurance Company Separate Account B Notes to Financial Statements | ||||||||||
December
31 | For the Year Ended December 31, | |||||||||
Except as Noted | ||||||||||
Units (000's) | Unit Fair Value Corresponding to Lowest to Highest Expense Ratio | Net Assets (000s) | Investment Income Ratio
(1) | Expense Ratio (2) Lowest to Highest | Total Return (3) Lowest to Highest | |||||
Division | ||||||||||
Principal LifeTime
Strategic Class 1 Income Division: | ||||||||||
2013 | 1,813 | $12.30 to $12.86 | $24,406 | 2.72% | 0.95%
to 2.00% | 4.15% to 3.21% | ||||
2012 | 1,977 | 11.81 to 12.46 | 25,654 | 1.77 | 0.95 to 1.85 | 8.65 to 7.60 | ||||
2011 | 2,070 | 10.87
to 11.58 | 24,819 | 3.13 | 0.95 to 1.85 | 2.45 to 1.58 | ||||
2010 | 2,070 | 10.61 to 11.40 | 24,280 | 4.80 | 0.95
to 1.85 | 10.29 to 9.20 | ||||
2009 | 2,006 | 9.62 to 10.44 | 21,415 | 5.09 | 0.95 to 1.85 | 17.75 to 16.78 | ||||
Principal
LifeTime 2010 Class 1 Division: | ||||||||||
2013 | 2,531 | 13.04 to 14.01 | 36,994 | 2.38 | 0.95
to 2.00 | 9.76 to 8.77 | ||||
2012 | 2,851 | 11.88 to 12.88 | 38,033 | 1.90 | 0.95 to 1.85 | 10.82 to 9.71 | ||||
2011 | 3,124 | 10.72
to 11.74 | 37,726 | 2.71 | 0.95 to 1.85 | 0.47 to (0.42) | ||||
2010 | 3,413 | 10.67 to 11.79 | 41,055 | 4.30 | 0.95
to 1.85 | 12.79 to 11.86 | ||||
2009 | 3,536 | 9.46 to 10.54 | 37,830 | 4.27 | 0.95 to 1.85 | 23.98 to 22.84 | ||||
Principal
LifeTime 2020 Class 1 Division: | ||||||||||
2013 | 11,078 | 13.78 to 15.26 | 176,094 | 2.14 | 0.95
to 2.00 | 14.93 to 13.88 | ||||
2012 | 12,377 | 11.99 to 13.40 | 171,673 | 1.71 | 0.95 to 1.85 | 13.65 to 12.61 | ||||
2011 | 13,310 | 10.55
to 11.90 | 163,065 | 2.49 | 0.95 to 1.85 | (1.95) to (2.86) | ||||
2010 | 14,045 | 10.76 to 12.25 | 176,256 | 3.85 | 0.95
to 1.85 | 13.86 to 12.90 | ||||
2009 | 14,515 | 9.45 to 10.85 | 160,531 | 3.46 | 0.95 to 1.85 | 26.34 to 25.14 | ||||
Principal
LifeTime 2030 Class 1 Division: | ||||||||||
2013 | 4,540 | 13.81 to 15.28 | 72,233 | 1.94 | 0.95
to 2.00 | 17.93 to 16.73 | ||||
2012 | 4,718 | 11.71 to 13.09 | 63,923 | 1.60 | 0.95 to 1.85 | 14.47 to 13.43 | ||||
2011 | 4,956 | 10.23
to 11.54 | 58,812 | 1.96 | 0.95 to 1.85 | (3.12) to (3.99) | ||||
2010 | 5,131 | 10.56 to 12.02 | 63,026 | 2.32 | 0.95
to 1.85 | 14.29 to 13.29 | ||||
2009 | 4,758 | 9.24 to 10.61 | 51,252 | 1.78 | 0.95 to 1.85 | 26.92 to 25.86 | ||||
Principal
LifeTime 2040 Class 1 Division: | ||||||||||
2013 | 787 | 14.09 to 15.88 | 13,053 | 1.57 | 0.95
to 2.00 | 21.26 to 20.21 | ||||
2012 | 852 | 11.62 to 13.21 | 11,702 | 1.57 | 0.95 to 1.85 | 15.62 to 14.57 | ||||
2011 | 874 | 10.05
to 11.53 | 10,412 | 1.61 | 0.95 to 1.85 | (4.10) to (5.02) | ||||
2010 | 869 | 10.48 to 12.14 | 10,823 | 2.23 | 0.95
to 1.85 | 14.79 to 13.78 | ||||
2009 | 751 | 9.13 to 10.67 | 8,167 | 2.73 | 0.95 to 1.85 | 28.23 to 27.18 | ||||
December 31 | For
the Year Ended December 31, | |||||||||
Except as Noted | ||||||||||
Units (000's) | Unit Fair Value Corresponding to Lowest to Highest Expense Ratio | Net Assets (000s) | Investment Income Ratio
(1) | Expense Ratio (2) Lowest to Highest | Total Return (3) Lowest to Highest | |||||
Division | ||||||||||
Principal LifeTime
2050 Class 1 Division: | ||||||||||
2013 | 501 | $14.10 to $15.96 | $8,354 | 1.58% | 0.95%
to 2.00% | 22.61% to 21.46% | ||||
2012 | 486 | 11.50 to 13.14 | 6,618 | 1.45 | 0.95 to 1.85 | 16.04 to 14.96 | ||||
2011 | 470 | 9.91
to 11.43 | 5,533 | 1.50 | 0.95 to 1.85 | (4.89) to (5.69) | ||||
2010 | 469 | 10.42 to 12.12 | 5,830 | 2.13 | 0.95
to 1.85 | 15.14 to 14.02 | ||||
2009 | 464 | 9.05 to 10.63 | 5,018 | 2.41 | 0.95 to 1.85 | 28.73 to 27.76 | ||||
Real
Estate Securities Class 1 Division: | ||||||||||
2013 | 1,880 | 3.67 to 36.64 | 72,398 | 1.29 | 0.49
to 2.00 | 3.66 to 2.15 | ||||
2012 | 2,051 | 3.54 to 35.87 | 76,907 | 1.40 | 0.48 to 1.85 | 16.68 to 15.00 | ||||
2011 | 2,278 | 3.04
to 31.19 | 73,765 | – | 0.66 to 1.85 | 8.48 to 6.92 | ||||
2010 | 2,507 | 2.80 to 29.17 | 75,755 | 2.99 | 0.67
to 1.85 | 25.17 to 23.44 | ||||
2009 | 3,012 | 2.24 to 23.63 | 72,274 | 4.21 | 0.37 to 1.85 | 28.33 to 26.50 | ||||
SAM
Balanced Portfolio Class 1 Division: | ||||||||||
2013 | 58,685 | 1.90 to 12.79 | 775,903 | 2.43 | 0.57
to 2.00 | 15.50 to 15.54 | ||||
2012 | 61,098 | 11.65 to 11.07 | 697,358 | 0.69 | 0.95 to 1.85 | 11.70 to 10.70 | ||||
2011 | 64,434 | 10.43
to 10.00 | 660,873 | 2.77 | 0.95 to 1.85 | 0.00 to (0.89) | ||||
2010 | 66,480 | 10.43 to 10.09 | 684,067 | 3.60 | 0.95
to 1.85 | 12.51 to 11.49 | ||||
2009 | 62,913 | 9.27 to 9.05 | 577,353 | 3.66 | 0.95 to 1.85 | 22.62 to 21.64 | ||||
SAM
Conservative Balanced Class 1 Portfolio Division: | ||||||||||
2013 | 13,493 | 13.52 to 12.72 | 177,876 | 2.87 | 0.95
to 2.00 | 10.46 to 9.37 | ||||
2012 | 13,568 | 12.24 to 11.63 | 162,474 | 0.82 | 0.95 to 1.85 | 10.17 to 9.20 | ||||
2011 | 14,050 | 11.11
to 10.65 | 153,302 | 3.19 | 0.95 to 1.85 | 1.37 to 0.38 | ||||
2010 | 14,635 | 10.96 to 10.61 | 158,220 | 4.32 | 0.95
to 1.85 | 10.71 to 9.83 | ||||
2009 | 14,160 | 9.90 to 9.66 | 138,649 | 3.08 | 0.95 to 1.85 | 20.00 to 18.97 | ||||
SAM
Conservative Growth Class 1 Portfolio Division: | ||||||||||
2013 | 6,963 | 13.23 to 12.45 | 89,642 | 1.82 | 0.95
to 2.00 | 21.94 to 20.76 | ||||
2012 | 6,406 | 10.85 to 10.31 | 67,909 | 0.44 | 0.95 to 1.85 | 13.14 to 12.07 | ||||
2011 | 6,161 | 9.59
to 9.20 | 57,954 | 2.01 | 0.95 to 1.85 | (1.44) to (2.23) | ||||
2010 | 5,760 | 9.73 to 9.41 | 55,154 | 3.12 | 0.95
to 1.85 | 14.07 to 13.10 | ||||
2009 | 4,941 | 8.53 to 8.32 | 41,606 | 4.97 | 0.95 to 1.85 | 24.53 to 23.44 | ||||
December 31 | For
the Year Ended December 31, | |||||||||
Except as Noted | ||||||||||
Units (000's) | Unit Fair Value Corresponding to Lowest to Highest Expense Ratio | Net Assets (000s) | Investment Income Ratio
(1) | Expense Ratio (2) Lowest to Highest | Total Return (3) Lowest to Highest | |||||
Division | ||||||||||
SAM Flexible
Income Portfolio Class 1 Division: | ||||||||||
2013 | 13,976 | $13.63 to $12.83 | $185,636 | 3.43% | 0.95%
to 2.00% | 6.73% to 5.68% | ||||
2012 | 14,864 | 12.77 to 12.14 | 185,716 | 1.13 | 0.95 to 1.85 | 9.52 to 8.59 | ||||
2011 | 14,070 | 11.66
to 11.18 | 160,984 | 3.86 | 0.95 to 1.85 | 2.46 to 1.54 | ||||
2010 | 14,055 | 11.38 to 11.01 | 157,635 | 5.26 | 0.95
to 1.85 | 9.42 to 8.47 | ||||
2009 | 12,515 | 10.40 to 10.15 | 128,680 | 4.54 | 0.95 to 1.85 | 18.86 to 17.75 | ||||
SAM
Strategic Growth Portfolio Class 1 Division: | ||||||||||
2013 | 4,539 | 13.08 to 12.31 | 57,654 | 1.43 | 0.95
to 2.00 | 26.25 to 24.97 | ||||
2012 | 4,171 | 10.36 to 9.85 | 42,188 | 0.24 | 0.95 to 1.85 | 14.35 to 13.48 | ||||
2011 | 4,626 | 9.06
to 8.68 | 41,082 | 1.50 | 0.95 to 1.85 | (2.79) to (3.77) | ||||
2010 | 4,212 | 9.32 to 9.02 | 38,641 | 2.50 | 0.95
to 1.85 | 15.35 to 14.32 | ||||
2009 | 3,779 | 8.08 to 7.89 | 30,169 | 3.70 | 0.95 to 1.85 | 26.25 to 25.04 | ||||
Short-Term
Income Class 1 Division: | ||||||||||
2013 | 13,303 | 11.81 to 11.21 | 153,216 | 1.87 | 0.85
to 2.00 | 0.34 to (0.80) | ||||
2012 | 14,402 | 11.77 to 11.30 | 166,187 | 2.09 | 0.85 to 1.85 | 4.07 to 3.10 | ||||
2011 | 14,110 | 11.31
to 10.96 | 157,122 | 0.15 | 0.85 to 1.85 | 0.53 to (0.54) | ||||
2010 | 14,544 | 11.25 to 11.02 | 161,858 | 2.79 | 0.85
to 1.85 | 3.31 to 2.32 | ||||
2009 | 2,174 | 10.89 to 10.77 | 23,551 | 7.36 | 0.85 to 1.85 | 9.01 to 110.35 | ||||
SmallCap
Blend Class 1 Division: | ||||||||||
2013 | 1,736 | 2.08 to 18.50 | 34,644 | 0.33 | 0.38
to 2.00 | 47.19 to 21.95 | ||||
2012 | 1,931 | 1.41 to 12.76 | 26,674 | – | 0.32 to 1.85 | 14.22 to 12.62 | ||||
2011 | 2,287 | 1.24
to 11.33 | 27,780 | 0.35 | 0.34 to 1.85 | (1.89) to (3.25) | ||||
2010 | 2,886 | 1.26 to 11.71 | 33,079 | 0.50 | 0.20
to 1.85 | 23.74 to 21.98 | ||||
2009 | 3,419 | 1.02 to 9.60 | 33,829 | 0.73 | 0.33 to 1.85 | 21.60 to 19.85 | ||||
SmallCap
Growth II Class 1 Division: | ||||||||||
2013 | 2,157 | 1.31 to 15.42 | 33,880 | – | 0.42
to 2.00 | 46.81 to 44.65 | ||||
2012 | 2,316 | 0.89 to 10.66 | 25,716 | – | 0.37 to 1.85 | 15.80 to 14.13 | ||||
2011 | 2,639 | 0.77
to 9.34 | 25,540 | – | 0.46 to 1.85 | (4.79) to (6.13) | ||||
2010 | 3,144 | 0.81 to 9.95 | 31,722 | – | 0.23
to 1.85 | 26.40 to 24.69 | ||||
2009 | 3,540 | 0.64 to 7.98 | 28,675 | – | 0.72 to 1.85 | 31.00 to 29.34 | ||||
December 31 | For
the Year Ended December 31, | |||||||||
Except as Noted | ||||||||||
Units (000's) | Unit Fair Value Corresponding to Lowest to Highest Expense Ratio | Net Assets (000s) | Investment Income Ratio
(1) | Expense Ratio (2) Lowest to Highest | Total Return (3) Lowest to Highest | |||||
Division | ||||||||||
SmallCap Value
I Class 1 Division: | ||||||||||
2013 | 2,508 | $2.89 to $32.58 | $83,432 | 1.05% | 0.42%
to 2.00% | 39.18% to 37.12% | ||||
2012 | 3,065 | 2.08 to 23.76 | 75,361 | 0.81 | 0.37 to 1.85 | 21.21 to 19.52 | ||||
2011 | 3,704 | 1.71
to 19.88 | 76,201 | 0.04 | 0.51 to 1.85 | (4.06) to (5.42) | ||||
2010 | 4,063 | 1.79 to 21.02 | 86,698 | 0.84 | 0.36
to 1.85 | 25.53 to 23.72 | ||||
2009 | 4,686 | 1.42 to 16.99 | 80,632 | 2.30 | 0.46 to 1.85 | 15.68 to 14.10 | ||||
T.
Rowe Price Blue Chip Growth Portfolio II Division: | ||||||||||
2013 | 566 | 20.43 to 19.31 | 11,456 | – | 1.40
to 2.00 | 38.98 to 38.13 | ||||
2012 | 567 | 14.70 to 13.98 | 8,278 | – | 1.25 to 1.85 | 16.48 to 15.73 | ||||
2011 | 562 | 12.62
to 12.08 | 7,052 | – | 1.25 to 1.85 | 0.08 to (0.49) | ||||
2010 | 535 | 12.61 to 12.14 | 6,703 | – | 1.25
to 1.85 | 14.53 to 13.88 | ||||
2009 | 457 | 11.01 to 10.66 | 5,001 | – | 1.25 to 1.85 | 40.08 to 39.16 | ||||
T.
Rowe Price Health Sciences Portfolio II Division: | ||||||||||
2013 | 631 | 34.28 to 32.40 | 21,393 | – | 1.40
to 2.00 | 48.59 to 47.68 | ||||
2012 | 515 | 23.07 to 21.94 | 11,743 | – | 1.25 to 1.85 | 29.32 to 28.53 | ||||
2011 | 439 | 17.84
to 17.07 | 7,738 | – | 1.25 to 1.85 | 9.05 to 8.38 | ||||
2010 | 396 | 16.36 to 15.75 | 6,429 | – | 1.25
to 1.85 | 13.85 to 13.23 | ||||
2009 | 342 | 14.37 to 13.91 | 4,869 | – | 1.25 to 1.85 | 29.69 to 28.92 | ||||
Templeton
Growth Securities Class 2 Division: | ||||||||||
2013 | 49 | 21.94 | 1,071 | 2.65 | 0.85 | 29.82 | ||||
2012 | 61 | 16.90 | 1,032 | 2.23 | 0.85 | 20.28 | ||||
2011 | 69 | 14.05 | 964 | 1.35 | 0.85 | (7.75) | ||||
2010 | 79 | 15.23 | 1,200 | 1.41 | 0.85 | 6.43 | ||||
2009 | 92 | 14.31 | 1,315 | 3.15 | 0.85 | 29.97 | ||||
Van
Eck Global Hard Assets Class Division: | ||||||||||
2013 | 584 | 15.27 to 14.85 | 8,885 | 0.49 | 1.30
to 2.00 | 8.92 to 8.24 | ||||
2012 | 565 | 14.02 to 13.72 | 7,902 | 0.68 | 1.25 to 1.85 | 1.82 to 1.18 | ||||
2011 | 559 | 13.77
to 13.56 | 7,688 | 0.73 | 1.25 to 1.85 | (17.74) to (18.21) | ||||
2010 | 323 | 16.74 to 16.58 | 5,397 | 0.14 | 1.25
to 1.85 | 27.11 to 41.23 | ||||
2009 (5) | 82 | 13.17 to 13.12 | 1,081 | – | 1.25 to 1.85 | 26.63 to 26.28 | ||||
(1) | These amounts represent the dividends, excluding distributions of capital gains, received by the division from the underlying mutual fund, net of management fees assessed by the fund manager, divided by the average net assets. These ratios exclude those expenses, such as mortality and expense charges, that
result in direct reductions in the unit values. The recognition of investment income by the division is affected by the timing of the declaration of dividends by the underlying fund in which the divisions invest. These ratios are annualized for periods less than one year. | ||
(2) | These ratios represent the annualized contract expenses of the separate account, consisting primarily of mortality and expense charges, for each period indicated. The ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying fund are excluded. | ||
(3) | These amounts represent
the total return for the periods indicated, including changes in the value of the underlying fund, and reflect deductions for all items included in the expense ratio. The total return does not include any expenses assessed through the redemption of units; inclusion of these expenses in the calculation would result in a reduction in the total return presented. Investment options with a date notation indicate the effective date of that investment option in the variable account. For purposes of the total return calculation the beginning unit value is typically equal to an investment option with a similar expense structure and if no such similar investment option exists then a beginning unit value of ten would typically be used. The total return is calculated for the period indicated or from the effective date through the end of the reporting period. Total returns have not been annualized for periods less than one year. These percentages represent the range of total returns
available as of the report date and correspond with the expense ratio lowest to highest. | ||
(4) | These divisions received payment from affiliate as compensation for foreign income tax credits. The total returns for these divisions would have been lower without the inclusion of the payment from affiliate. | ||
(5) | Commencement of operations, May 18, 2009. Investment income ratios have been annualized for the period ended December 31, 2009. | ||
(6) | Commencement
of operations, January 4, 2010. Investment income ratios have been annualized for the period ended December 31, 2010. | ||
(7) | Commencement of operations, May 24, 2010. Investment income ratios have been annualized for the period ended December 31, 2010. | ||
(8) | Commencement of operations, April 27, 2012. Investment income ratios have been annualized for the period ended December 31, 2012. | ||
(9) | Commencement
of operations, May 21, 2012. Investment income ratios have been annualized for the period ended December 31, 2012. | ||
(10) | Commencement of operations, May 20, 2013. Investment income ratios have been annualized for the period ended December 31, 2013. | ||
(11) | Commencement of operations, December 2, 2013. Investment income ratios have been annualized for the period ended December
31, 2013. | ||
(12) | Represented the operations of Invesco Van Kampen American Franchise Series I Division until May 20, 2013. | ||
(13) | Represented the operations of Invesco Van Kampen MidCap Growth Series I Division until May 20, 2013. | ||
(14) | Represented the operations of Invesco Van Kampen Value Opportunities Series I Division until May 20, 2013. | ||
(15) | Represented
the operations of MidCap Blend Class 1 Division until May 20, 2013. | ||
Principal
Life Insurance Company Separate Account B Notes to Financial Statements | |||
There are divisions that have total return outside of the ranges indicated above. The following is a list of the divisions and corresponding lowest total return and highest total return. | |||
Division | 2013
Unit Value | 2013 Total Return | |
Balanced Class 1 Division | $2.92 and $26.55 | –% | |
Bond & Mortgage Securities Class 1 Division | 2.59, 21.17, 22.89 and 22.90 | – | |
Diversified International Class 1 Division | 3.18, 26.28, 28.42 and 28.43 | – | |
Equity
Income Class 1 Division | $13.44 and $13.45 | –% | |
Franklin Small Cap Value Securities Class 2 Division | – | 17.18 and 34.47 | |
Goldman Sachs VIT Mid Cap Value Service Class I Division | – | 10.09 and 31.14 | |
Goldman Sachs VIT Structured Small Cap Equity Service Class I Division | – | 13.75
and 33.92 | |
Government & High Quality Bond Class 1 Division | 11.67, 11.86, 11.92 and 2.54 | – | |
International Emerging Markets Class 1 Division | 30.96, 33.48 and 33.50 | – | |
LargeCap Growth Class 1 Division | 2.87, 24.66, 26.67 and 26.68 | – | |
LargeCap Growth I Class 1 Division | 47.28,
51.13 and 51.15 | – | |
LargeCap S&P 500 Index Class 1 Division | 13.31, 14.39, 15.27 and 15.42 | – | |
LargeCap Value Class 1 Division | 4.56, 33.55, 36.29, 36.30 and 55.42 | – | |
MidCap Class 1 Division | 8.06, 67.65, 73.16 and 73.19 | – | |
Money
Market Class 1 Division | 1.60, 1.68, 2.16, 12.59, 13.61 and 13.62 | – | |
Principal LifeTime Strategic Income Class 1 Division | $13.60 | – | |
Principal LifeTime 2010 Class 1 Division | 14.81 and 14.82 | – | |
Principal LifeTime 2020 Class 1 Division | $16.14 | – | |
Principal
LifeTime 2030 Class 1 Division | 15.29, 16.16 and 16.17 | – | |
Principal LifeTime 2040 Class 1 Division | 15.89, 16.79 and 16.80 | – | |
Principal LifeTime 2050 Class 1 Division | $16.88 | – | |
Real Estate Securities Class 1 Division | 36.65, 39.63 and 39.65 | – | |
SAM
Balanced Portfolio Class 1 Division | 13.31, 13.32 and 13.59 | 16.14, 16.23 and 16.65 | |
SmallCap Blend Class 1 Division | 18.51, 20.01, 20.02 and 25.98 | – | |
SmallCap Growth II Class 1 Division | 15.43, 15.78, 16.68 and 16.69 | – | |
SmallCap Value I Class 1 Division | 32.59, 35.24 and 35.26 | – |
Principal
Life Insurance Company Separate Account B Notes to Financial Statements | |||
Division | 2012 Unit Value | 2012 Total Return | |
Asset Allocation Class 1 Division | $28.28 | –% | |
Balanced Class 1 Division | 22.50 | 12.58 | |
Bond
& Mortgage Securities Class 1 Division | 23.40 | 7.09 | |
Diversified International Class 1 Division | 24.24 | 16.93, 17.31, 17.47 and 17.94 | |
Equity Income Class 1 Division | 10.70 | – |
Government
& High Quality Bond Class 1 Division | $11.94, $12.09 and $12.14 | 3.48% | |
International Emerging Markets Class 1 Division | 35.58 | – | |
LargeCap Growth Class 1 Division | 20.18 | 16.36 | |
LargeCap Growth I Class 1 Division | 38.05 | – | |
LargeCap
S&P 500 Index Class 1 Division | 11.04, 11.66 and 11.79 | – | |
LargeCap Value Class 1 Division | 28.10 and 42.56 | 18.01 and 18.08 | |
MidCap Blend Class 1 Division | 55.35 | 18.94 | |
Money Market Class 1 Division | 13.79 | (1.22), (1.00), (0.94),
(0.82), (0.64) and (0.42) | |
Principal LifeTime Strategic Income Class 1 Division | 13.10 | – | |
Principal LifeTime 2010 Class 1 Division | 13.54 | – | |
Principal LifeTime 2020 Class 1 Division | 14.09 | – | |
Principal LifeTime 2030 Class 1 Division | 13.76 | – | |
Principal
LifeTime 2040 Class 1 Division | 13.89 | – | |
Principal LifeTime 2050 Class 1 Division | 13.81 | – | |
Real Estate Securities Class 1 Division | 38.58 | – | |
Short-Term Income Class 1 Division | – | 4.08 | |
SmallCap
Blend Class 1 Division | 13.72 and 17.72 | – | |
SmallCap Growth II Class 1 Division | 10.80 and 11.46 | – | |
SmallCap Value I Class 1 Division | 25.55 | – | |
Division | 2011
Unit Value | 2011 Total Return | |
Asset Allocation Class 1 Division | $25.22 | –% | |
Balanced Class 1 Division | 2.19 and 20.16 | – | |
Bond & Mortgage Securities Class 1 Division | 2.46 and 22.03 | – | |
Diversified Balanced
Class 2 Division | – | 2.39 | |
Diversified Growth Class 2 Division | – | 1.00 | |
Diversified International Class 1 Division | 2.30 and 20.73 | – | |
Equity Income Class 1 Division | 9.59 | – | |
Government
& High Quality Bond Class 1 Division | 2.50, 11.64, 11.75 and 11.79 | – | |
International Emerging Markets Class 1 Division | 29.83 | – | |
LargeCap Growth Class 1 Division | 1.86 and 17.49 | – | |
LargeCap Growth I Class 1 Division | 33.11 | – | |
LargeCap
S&P 500 Index Class 1 Division | 9.68, 10.18 and 10.30 | – | |
LargeCap Value Class 1 Division | 2.97, 3.10, 5.90, 6.97, 9.37 and 10.21 | 0.75 | |
MidCap Blend Class 1 Division | 5.11 and 46.92 | – |
Division | 2011 Unit Value | 2011 Total Return | |
Money Market Class 1 Division | $1.62, $1.70, $2.23 and $13.96 | (0.89)%,
(0.78)%, (0.64)% and (0.42)% | |
Principal LifeTime Strategic Income Class 1 Division | 12.10 | – | |
Principal LifeTime 2010 Class 1 Division | 12.27 | – | |
Principal LifeTime 2020 Class 1 Division | 12.43 | – | |
Principal LifeTime 2030 Class 1 Division | 12.06 | – | |
Principal
LifeTime 2040 Class 1 Division | 12.05 | – | |
Principal LifeTime 2050 Class 1 Division | 11.95 | – | |
Real Estate Securities Class 1 Division | 33.34 | – | |
SmallCap Blend Class 1 Division | 12.11 and 15.58 | – | |
SmallCap
Growth II Class 1 Division | 9.38 and 9.98 | – | |
SmallCap Value I Class 1 Division | 21.25 | – | |
Division | 2010 Unit Value | 2010 Total Return | |
American
Century VP Income & Growth Class I Division | $9.55 | 13.15% | |
Asset Allocation Division | 25.00 | – | |
Balanced Division | 2.12 and 19.61 | ||
Bond & Mortgage Securities Division | 2.31 and 20.83 | – | |
Diversified
International Division | 2.58 and 23.55 | – | |
Equity Income Division | 9.21 | – | |
Government & High Quality Bond Division | 2.37, 11.10, 11.17 and 11.19 | – | |
International Emerging Markets Division | 36.60 | – | |
LargeCap
Growth Division | 1.95 and 18.49 | – | |
LargeCap Growth I Division | 33.64 | – | |
LargeCap S&P 500 Index Division | 9.63, 10.09 and 10.22 | – | |
LargeCap Value Division | 2.96, 3.08, 5.92, 6.96, 9.35 and 10.17 | 13.60 | |
MidCap
Blend Division | 4.74 and 43.87 | – | |
Money Market Division | 1.63 and 14.14 | – | |
Principal LifeTime Strategic Income Division | 11.84 | – | |
Principal LifeTime 2010 Division | 12.24 | – | |
Principal
LifeTime 2020 Division | 12.73 | – | |
Principal LifeTime 2030 Division | 12.49 | – | |
Principal LifeTime 2040 Division | 12.61 | – | |
Principal LifeTime 2050 Division | 12.59 | – | |
Real
Estate Securities Division | 30.99 | – | |
SmallCap Blend Division | 12.45 and 15.95 | – | |
SmallCap Growth II Division | 10.57 | – | |
SmallCap Value I Division | 22.34 | – | |
Van
Eck VIP Global Hard Assets Class Division | – | 26.37% and 41.74% |
Division | 2009
Unit Value | 2009 Total Return | |
American Century VP Income & Growth Class I Division | $8.44 | –% | |
Asset Allocation Division | 23.21 | – | |
Balanced Division | 1.88 and 17.48 | – | |
Bond & Mortgage Securities Division | 2.09
and 18.89 | – | |
Diversified International Division | 2.28 and 20.97 | – | |
Equity Income Division | 8.02 | – | |
Government & High Quality Bond Division | 2.25 and 19.27 | – | |
International Emerging Markets Division | 31.08 | – | |
International
Small Cap Division | 21.74 | – | |
LargeCap Growth Division | 1.66 and 15.81 | – | |
LargeCap Growth I Division | 28.48 | – | |
LargeCap S&P 500 Index Division | 8.51, 8.88 and 9.00 | – | |
LargeCap
Value Division | 2.61, 2.71, 5.27, 6.16, 8.27 and 8.99 | – | |
MidCap Blend Division | 3.85 and 35.80 | – | |
MidCap Growth I Division | 10.62 and 11.86 | 32.72, 33.42 and 33.94 | |
MidCap Value II Division | 12.17 and 18.45 | – | |
Money
Market Division | 1.64 and 14.32 | – | |
Mortgage Securities Division | – | 5.15 and 5.45 | |
Principal LifeTime Strategic Income Division | 10.78 | – | |
Principal LifeTime 2010 Division | 10.88 | – | |
Principal
LifeTime 2020 Division | 11.20 | – | |
Principal LifeTime 2030 Division | 10.96 | – | |
Principal LifeTime 2040 Division | 11.02 | – | |
Principal LifeTime 2050 Division | 10.97 | – | |
Real
Estate Securities Division | 24.96 | – | |
Short-Term Income Division | – | 8.51 and 8.91 | |
SmallCap Blend Division | 10.14 and 12.95 | – | |
SmallCap Growth II Division | 8.43 | – | |
SmallCap
Value I Division | 17.94 | – |
Des Moines, Iowa |
Principal
Life Insurance Company | ||||||
Consolidated Statements of Financial Position | ||||||
(in
millions) | ||||||
Assets | ||||||
Fixed maturities, available-for-sale (2013 and 2012 include $272.0 million and $194.6 million related to | ||||||
consolidated variable interest entities) | $ | 45,524.1 | $ | 47,396.3 | ||
Fixed
maturities, trading (2013 and 2012 both include $110.4 million related to consolidated variable | ||||||
interest entities) | 358.5 | 398.4 | ||||
Equity
securities, available-for-sale | 102.6 | 131.3 | ||||
Equity securities, trading | 169.7 | 131.9 | ||||
Mortgage loans | 10,819.2 | 10,825.4 | ||||
Real
estate | 1,266.4 | 1,172.5 | ||||
Policy loans | 830.1 | 834.0 | ||||
Other investments (2013 and 2012 include $68.1 million and $80.3 million related to consolidated variable | ||||||
interest
entities and $142.9 million and $113.9 million measured at fair value under the fair value option) | 1,354.1 | 1,785.2 | ||||
Total investments | 60,424.7 | 62,675.0 | ||||
Cash
and cash equivalents | 2,071.6 | 2,359.1 | ||||
Accrued investment income | 523.2 | 576.0 | ||||
Premiums due and other receivables | 1,170.5 | 1,023.9 | ||||
Deferred
acquisition costs | 2,848.8 | 2,394.7 | ||||
Property and equipment | 454.1 | 441.8 | ||||
Goodwill | 299.7 | 296.0 | ||||
Other
intangibles | 151.9 | 158.1 | ||||
Separate account assets | 83,790.3 | 69,217.8 | ||||
Other assets | 1,045.7 | 929.6 | ||||
Total
assets | $ | 152,780.5 | $ | 140,072.0 | ||
Liabilities | ||||||
Contractholder funds | $ | 34,627.7 | $ | 36,774.6 | ||
Future
policy benefits and claims | 18,245.0 | 17,906.5 | ||||
Other policyholder funds | 706.4 | 677.8 | ||||
Short-term debt | 292.4 | 286.7 | ||||
Long-term
debt | 152.4 | 128.9 | ||||
Income taxes currently payable | 5.2 | 11.5 | ||||
Deferred income taxes | 552.7 | 443.9 | ||||
Separate
account liabilities | 83,790.3 | 69,217.8 | ||||
Other liabilities (2013 and 2012 include $342.4 million and $302.9 million related to consolidated variable | ||||||
interest
entities, of which $104.9 million and $85.0 million are measured at fair value under the fair | ||||||
value option) | 6,420.2 | 7,023.8 | ||||
Total
liabilities | 144,792.3 | 132,471.5 | ||||
Redeemable noncontrolling interest | 208.7 | 23.2 | ||||
Stockholder's
equity | ||||||
Common stock, par value $1.00 per share - 5.0 million shares authorized, 2.5 million shares issued | ||||||
and
outstanding (wholly owned indirectly by Principal Financial Group, Inc.) | 2.5 | 2.5 | ||||
Additional paid-in capital | 5,505.0 | 5,747.6 | ||||
Retained earnings | 1,738.1 | 1,167.7 | ||||
Accumulated
other comprehensive income | 495.7 | 642.6 | ||||
Total stockholder's equity attributable to Principal Life Insurance Company | 7,741.3 | 7,560.4 | ||||
Noncontrolling
interest | 38.2 | 16.9 | ||||
Total stockholder's equity | 7,779.5 | 7,577.3 | ||||
Total
liabilities and stockholder's equity | $ | 152,780.5 | $ | 140,072.0 | ||
See accompanying notes. |
Principal
Life Insurance Company | |||||||||||||||||||
Consolidated Statements of Operations | |||||||||||||||||||
For the year ended December 31, | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
(in
millions) | |||||||||||||||||||
Revenues | |||||||||||||||||||
Premiums and other considerations | $ | 2,862.4 | $ | 2,934.9 | $ | 2,626.5 | |||||||||||||
Fees
and other revenues | 2,234.6 | 1,934.8 | 1,929.9 | ||||||||||||||||
Net investment income | 2,681.5 | 2,811.8 | 2,918.0 | ||||||||||||||||
Net
realized capital gains (losses), excluding impairment losses on | |||||||||||||||||||
available-for-sale securities | (99.5) | 190.7 | 91.9 | ||||||||||||||||
Total
other-than-temporary impairment losses on available-for-sale | |||||||||||||||||||
securities | (89.8) | (135.9) | (138.3) | ||||||||||||||||
Other-than-temporary
impairment losses on fixed maturities, | |||||||||||||||||||
available-for-sale reclassified to (from) other comprehensive | |||||||||||||||||||
income | (22.0) | 17.3 | (52.3) | ||||||||||||||||
Net
impairment losses on available-for-sale securities | (111.8) | (118.6) | (190.6) | ||||||||||||||||
Net realized capital gains (losses) | (211.3) | 72.1 | (98.7) | ||||||||||||||||
Total
revenues | 7,567.2 | 7,753.6 | 7,375.7 | ||||||||||||||||
Expenses | |||||||||||||||||||
Benefits,
claims and settlement expenses | 4,114.5 | 4,556.6 | 4,034.9 | ||||||||||||||||
Dividends to policyholders | 189.0 | 197.7 | 210.2 | ||||||||||||||||
Operating
expenses | 2,376.3 | 2,154.5 | 2,320.5 | ||||||||||||||||
Total expenses | 6,679.8 | 6,908.8 | 6,565.6 | ||||||||||||||||
Income
before income taxes | 887.4 | 844.8 | 810.1 | ||||||||||||||||
Income taxes | 173.2 | 151.5 | 225.0 | ||||||||||||||||
Net
income | 714.2 | 693.3 | 585.1 | ||||||||||||||||
Net income attributable to noncontrolling interest | 17.6 | 18.4 | 36.4 | ||||||||||||||||
Net
income attributable to Principal Life Insurance Company | $ | 696.6 | $ | 674.9 | $ | 548.7 | |||||||||||||
See
accompanying notes. |
Principal
Life Insurance Company | |||||||||||||||||||
Consolidated Statements of Comprehensive Income | |||||||||||||||||||
For the year ended December 31, | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
(in
millions) | |||||||||||||||||||
Net income | $ | 714.2 | $ | 693.3 | $ | 585.1 | |||||||||||||
Other
comprehensive income (loss), net: | |||||||||||||||||||
Net unrealized gains (losses) on available-for-sale securities | (477.7) | 505.3 | 207.3 | ||||||||||||||||
Noncredit
component of impairment losses on fixed maturities, available-for-sale | 5.1 | (6.7) | 33.0 | ||||||||||||||||
Net unrealized gains (losses) on derivative instruments | (6.5) | (47.0) | 20.2 | ||||||||||||||||
Foreign
currency translation adjustment | - | (9.1) | 13.0 | ||||||||||||||||
Net unrecognized postretirement benefit obligation | 332.6 | (127.4) | (172.9) | ||||||||||||||||
Other
comprehensive income (loss) | (146.5) | 315.1 | 100.6 | ||||||||||||||||
Comprehensive income | 567.7 | 1,008.4 | 685.7 | ||||||||||||||||
Comprehensive
income attributable to noncontrolling interest | 18.0 | 19.5 | 36.4 | ||||||||||||||||
Comprehensive income attributable to Principal Life Insurance Company | $ | 549.7 | $ | 988.9 | $ | 649.3 | |||||||||||||
See
accompanying notes. |
Principal
Life Insurance Company | |||||||||||||||||||
Consolidated Statements of Stockholder's Equity | |||||||||||||||||||
Accumulated | |||||||||||||||||||
Additional | other | Total | |||||||||||||||||
Common | paid-in | Retained | comprehensive | Noncontrolling | stockholder's | ||||||||||||||
stock | capital | earnings | income | interest | equity | ||||||||||||||
(in
millions) | |||||||||||||||||||
Balances at January 1, 2011 | $ | 2.5 | $ | 6,145.0 | $ | 898.6 | $ | 228.0 | $ | 150.9 | $ | 7,425.0 | |||||||
Capital
distribution to parent | - | (458.8) | - | - | - | (458.8) | |||||||||||||
Stock-based
compensation and | |||||||||||||||||||
additional
related tax benefits | - | 31.9 | (2.3) | - | - | 29.6 | |||||||||||||
Dividends
to parent | - | - | (250.0) | - | - | (250.0) | |||||||||||||
Distributions
to noncontrolling interest | - | - | - | - | (9.8) | (9.8) | |||||||||||||
Contributions
from noncontrolling | |||||||||||||||||||
interest | - | - | - | - | 174.6 | 174.6 | |||||||||||||
Purchase
of subsidiary shares from | |||||||||||||||||||
noncontrolling
interest | - | - | - | - | (1.1) | (1.1) | |||||||||||||
Net
income (excludes $0.2 million attributable to redeemable | |||||||||||||||||||
noncontrolling
interests) | - | - | 548.7 | - | 36.2 | 584.9 | |||||||||||||
Other
comprehensive income | - | - | - | 100.6 | - | 100.6 | |||||||||||||
Balances
at December 31, 2011 | 2.5 | 5,718.1 | 1,195.0 | 328.6 | 350.8 | 7,595.0 | |||||||||||||
Capital
distribution to parent | - | (14.4) | - | - | - | (14.4) | |||||||||||||
Stock-based
compensation and additional related | |||||||||||||||||||
tax
benefits | - | 43.9 | (2.2) | - | - | 41.7 | |||||||||||||
Dividends
to parent | - | - | (700.0) | - | - | (700.0) | |||||||||||||
Distributions
to noncontrolling interest | - | - | - | - | (10.7) | (10.7) | |||||||||||||
Contributions
from noncontrolling interest | - | - | - | - | 12.6 | 12.6 | |||||||||||||
Deconsolidation
of certain variable interest entities | - | - | - | - | (353.2) | (353.2) | |||||||||||||
Net
income (excludes $1.0 million attributable to redeemable | |||||||||||||||||||
noncontrolling
interest) | - | - | 674.9 | - | 17.4 | 692.3 | |||||||||||||
Other
comprehensive income (excludes $1.1 million | |||||||||||||||||||
attributable
to redeemable noncontrolling interest) | - | - | - | 314.0 | - | 314.0 | |||||||||||||
Balances
at December 31, 2012 | 2.5 | 5,747.6 | 1,167.7 | 642.6 | 16.9 | 7,577.3 | |||||||||||||
Capital
distribution to parent | - | (163.8) | - | - | - | (163.8) | |||||||||||||
Stock-based
compensation and additional related | |||||||||||||||||||
tax
benefits | - | 47.4 | (2.9) | - | - | 44.5 | |||||||||||||
Dividends
to parent | - | - | (80.0) | - | - | (80.0) | |||||||||||||
Distributions
to noncontrolling interest | - | - | - | - | (2.0) | (2.0) | |||||||||||||
Contributions
from noncontrolling interest | - | - | - | - | 2.5 | 2.5 | |||||||||||||
Sale
of subsidiary shares to noncontrolling interest | - | 11.5 | - | - | 20.3 | 31.8 | |||||||||||||
Adjustments
to redemption amount of redeemable | |||||||||||||||||||
noncontrolling
interests | - | (137.7) | (43.3) | - | (3.5) | (184.5) | |||||||||||||
Net
income (excludes $13.6 million attributable to redeemable | |||||||||||||||||||
noncontrolling
interest) | - | - | 696.6 | - | 4.0 | 700.6 | |||||||||||||
Other
comprehensive loss (excludes $0.4 million | |||||||||||||||||||
attributable
to redeemable noncontrolling interest) | - | - | - | (146.9) | - | (146.9) | |||||||||||||
Balances
at December 31, 2013 | $ | 2.5 | $ | 5,505.0 | $ | 1,738.1 | $ | 495.7 | $ | 38.2 | $ | 7,779.5 | |||||||
See
accompanying notes. |
Principal
Life Insurance Company | |||||||||
Consolidated Statements of Cash Flows | |||||||||
For the year ended December 31, | |||||||||
2013 | 2012 | 2011 | |||||||
(in
millions) | |||||||||
Operating activities | |||||||||
Net income | $ | 714.2 | $ | 693.3 | $ | 585.1 | |||
Adjustments
to reconcile net income to net cash provided by operating activities: | |||||||||
Amortization of deferred acquisition costs | 170.6 | 82.3 | 263.0 | ||||||
Additions
to deferred acquisition costs | (393.0) | (393.6) | (316.9) | ||||||
Accrued investment income | 52.8 | 28.4 | 51.3 | ||||||
Net
cash flows for trading securities | 18.5 | 88.9 | 75.8 | ||||||
Premiums due and other receivables | (152.7) | 75.8 | (129.8) | ||||||
Contractholder
and policyholder liabilities and dividends | 1,296.8 | 1,814.5 | 723.0 | ||||||
Current and deferred income taxes | 187.6 | 2.7 | 52.6 | ||||||
Net
realized capital (gains) losses | 211.3 | (72.1) | 98.7 | ||||||
Depreciation and amortization expense | 96.8 | 103.1 | 93.0 | ||||||
Mortgage
loans held for sale, sold or repaid, net of gain | 0.2 | 74.9 | 17.7 | ||||||
Real estate acquired through operating activities | (107.2) | (46.4) | (37.4) | ||||||
Real
estate sold through operating activities | 20.1 | 41.2 | 138.5 | ||||||
Stock-based compensation | 45.1 | 41.9 | 29.6 | ||||||
Other | 324.1 | 663.0 | 1,506.7 | ||||||
Net
adjustments | 1,771.0 | 2,504.6 | 2,565.8 | ||||||
Net cash provided by operating activities | 2,485.2 | 3,197.9 | 3,150.9 | ||||||
Investing
activities | |||||||||
Available-for-sale securities: | |||||||||
Purchases | (8,554.0) | (7,986.7) | (6,406.7) | ||||||
Sales | 1,521.4 | 1,193.3 | 692.3 | ||||||
Maturities | 7,142.4 | 6,383.8 | 5,490.1 | ||||||
Mortgage
loans acquired or originated | (2,049.5) | (2,442.9) | (1,397.7) | ||||||
Mortgage loans sold or repaid | 1,989.0 | 1,545.4 | 1,597.9 | ||||||
Real
estate acquired | (85.6) | (151.8) | (129.9) | ||||||
Net purchases of property and equipment | (51.2) | (29.6) | (50.3) | ||||||
Net
change in other investments | 213.0 | (31.0) | (50.6) | ||||||
Net cash provided by (used in) investing activities | 125.5 | (1,519.5) | (254.9) | ||||||
Financing
activities | |||||||||
Proceeds from financing element derivatives | 47.0 | 51.8 | 75.9 | ||||||
Payments
for financing element derivatives | (48.0) | (49.9) | (46.5) | ||||||
Excess tax benefits from share-based payment arrangements | 7.4 | 7.9 | 1.5 | ||||||
Capital
distributions to parent | (163.8) | (14.8) | (506.5) | ||||||
Dividends paid to parent | (80.0) | (700.0) | (250.0) | ||||||
Issuance
of long-term debt | 38.2 | 9.4 | - | ||||||
Principal repayments of long-term debt | (14.6) | (0.4) | (0.5) | ||||||
Net
proceeds from (repayments of) short-term borrowings | 5.7 | 23.0 | (30.7) | ||||||
Investment contract deposits | 6,355.1 | 6,401.2 | 5,868.6 | ||||||
Investment
contract withdrawals | (8,846.6) | (7,519.8) | (7,076.7) | ||||||
Net increase (decrease) in banking operation deposits | (225.7) | 32.0 | (18.5) | ||||||
Sale
of subsidiary shares to noncontrolling interest | 31.8 | - | - | ||||||
Other | (4.7) | (14.6) | (4.5) | ||||||
Net
cash used in financing activities | (2,898.2) | (1,774.2) | (1,987.9) | ||||||
Net increase (decrease) in cash and cash equivalents | (287.5) | (95.8) | 908.1 | ||||||
Cash
and cash equivalents at beginning of period | 2,359.1 | 2,454.9 | 1,546.8 | ||||||
Cash and cash equivalents at end of period | $ | 2,071.6 | $ | 2,359.1 | $ | 2,454.9 | |||
Supplemental
Information: | |||||||||
Cash paid for interest | $ | 9.2 | $ | 10.1 | $ | 37.3 | |||
Cash
paid for income taxes | $ | 19.6 | $ | 117.5 | $ | 168.6 | |||
See
accompanying notes. |
• | the
fair value of investments in the absence of quoted market values; |
• | investment impairments and valuation allowances; |
• | the fair value of and accounting for derivatives; |
• | the deferred acquisition costs (“DAC”) and other actuarial balances where the amortization is based on estimated gross
profits; |
• | the measurement of goodwill, indefinite lived intangible assets, finite lived intangible assets and related impairments or amortization, if any; |
• | the liability for future policy benefits and claims; |
• | the value of our pension and other postretirement benefit obligations and |
• | accounting
for income taxes and the valuation of deferred tax assets. |
(a) | a hedge of the exposure to changes in the fair value of a recognized asset or liability or an unrecognized firm commitment, including those denominated in a foreign currency (“fair value hedge”); |
(b) | a hedge of a forecasted transaction or the exposure to variability of cash flows to be received or paid related to a recognized asset or liability, including those denominated in a foreign currency (“cash flow hedge”) or |
(c) | a
derivative not designated as a hedging instrument. |
For
the year ended December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||
(in
millions) | ||||||||||
Premiums and other considerations: | ||||||||||
Direct | $ | 3,132.8 | $ | 3,212.1 | $ | 2,913.3 | ||||
Assumed | 102.0 | 59.3 | 30.1 | |||||||
Ceded | (372.4) | (336.5) | (316.9) | |||||||
Net
premiums and other considerations | $ | 2,862.4 | $ | 2,934.9 | $ | 2,626.5 | ||||
Benefits,
claims and settlement expenses: | ||||||||||
Direct | 4,190.1 | 4,575.5 | 4,280.6 | |||||||
Assumed | 204.5 | 157.9 | 96.5 | |||||||
Ceded | (280.1) | (176.8) | (342.2) | |||||||
Net
benefits, claims and settlement expenses | $ | 4,114.5 | $ | 4,556.6 | $ | 4,034.9 |
Retirement | Principal | U.S. | |||||||||||
and
Investor | Global | Insurance | |||||||||||
Services | Investors | Solutions | Consolidated | ||||||||||
(in
millions) | |||||||||||||
Balance at January 1, 2012 | $ | 18.7 | $ | 220.5 | $ | 43.4 | $ | 282.6 | |||||
Goodwill
from acquisitions | - | - | 10.5 | 10.5 | |||||||||
Foreign currency | - | 2.9 | - | 2.9 | |||||||||
Balance
at December 31, 2012 | 18.7 | 223.4 | 53.9 | 296.0 | |||||||||
Goodwill
from acquisitions | - | - | 2.5 | 2.5 | |||||||||
Foreign
currency | - | 1.2 | - | 1.2 | |||||||||
Balance at December 31, 2013 | $ | 18.7 | $ | 224.6 | $ | 56.4 | $ | 299.7 |
2013 | 2012 | |||||||||||||||||
Gross | Net | Gross | Net | |||||||||||||||
carrying | Accumulated | carrying | carrying | Accumulated | carrying | |||||||||||||
value | amortization | value | value | amortization | value | |||||||||||||
(in
millions) | ||||||||||||||||||
Total finite lived intangible assets | $ | 94.5 | $ | 37.1 | $ | 57.4 | $ | 99.3 | $ | 35.7 | $ | 63.6 |
Year
ending December 31: | |||
2014 | $ | 6.5 | |
2015 | 5.2 | ||
2016 | 5.2 | ||
2017 | 5.2 | ||
2018 | 5.2 |
Collateralized | ||||||||||||
private
investment | ||||||||||||
Grantor trusts | vehicle | CMBS | Total | |||||||||
(in
millions) | ||||||||||||
Fixed
maturities, available-for-sale | $ | 272.0 | $ | - | $ | - | $ | 272.0 | ||||
Fixed maturities, trading | - | 110.4 | - | 110.4 | ||||||||
Other
investments | - | - | 68.1 | 68.1 | ||||||||
Accrued investment income | 0.3 | - | 0.5 | 0.8 | ||||||||
Total
assets | $ | 272.3 | $ | 110.4 | $ | 68.6 | $ | 451.3 | ||||
Deferred income taxes | $ | 1.5 | $ | - | $ | - | $ | 1.5 | ||||
Other
liabilities (1) | 217.2 | 93.8 | 31.4 | 342.4 | ||||||||
Total liabilities | $ | 218.7 | $ | 93.8 | $ | 31.4 | $ | 343.9 | ||||
Fixed maturities, available-for-sale | $ | 194.6 | $ | - | $ | - | $ | 194.6 | ||||
Fixed
maturities, trading | - | 110.4 | - | 110.4 | ||||||||
Other investments | - | - | 80.3 | 80.3 | ||||||||
Accrued
investment income | 0.5 | - | 0.6 | 1.1 | ||||||||
Total assets | $ | 195.1 | $ | 110.4 | $ | 80.9 | $ | 386.4 | ||||
Deferred
income taxes | $ | 1.8 | $ | - | $ | - | $ | 1.8 | ||||
Other liabilities (1) | 152.4 | 104.8 | 45.7 | 302.9 | ||||||||
Total
liabilities | $ | 154.2 | $ | 104.8 | $ | 45.7 | $ | 304.7 |
(1) | Grantor
trusts contain an embedded derivative of a forecasted transaction to deliver the underlying securities; the collateralized private investment vehicles include derivative liabilities and an obligation to redeem notes at maturity or termination of the trust; and CMBS includes an obligation to the bondholders. |
Maximum
exposure to | ||||||||
Asset carrying value | loss (1) | |||||||
(in
millions) | ||||||||
Fixed maturities, available-for-sale: | ||||||||
Corporate | $ | 523.4 | $ | 448.2 | ||||
Residential
mortgage-backed pass-through securities | 2,823.6 | 2,779.2 | ||||||
Commercial mortgage-backed securities | 4,026.4 | 4,078.0 | ||||||
Collateralized
debt obligations | 363.4 | 391.9 | ||||||
Other debt obligations | 4,167.8 | 4,157.5 | ||||||
Fixed maturities,
trading: | ||||||||
Residential mortgage-backed pass-through securities | 47.5 | 47.5 | ||||||
Commercial
mortgage-backed securities | 1.8 | 1.8 | ||||||
Collateralized debt obligations | 59.6 | 59.6 | ||||||
Other
debt obligations | 1.2 | 1.2 | ||||||
Other investments: | ||||||||
Other limited partnership interests | 123.5 | 123.5 | ||||||
Fixed maturities, available-for-sale: | ||||||||
Corporate | $ | 523.2 | $ | 403.7 | ||||
Residential
mortgage-backed pass-through securities | 3,199.7 | 2,997.8 | ||||||
Commercial mortgage-backed securities | 3,897.4 | 4,094.8 | ||||||
Collateralized
debt obligations | 379.2 | 428.8 | ||||||
Other debt obligations | 3,779.2 | 3,756.9 | ||||||
Fixed maturities, trading: | ||||||||
Residential
mortgage-backed pass-through securities | 77.7 | 77.7 | ||||||
Commercial mortgage-backed securities | 2.7 | 2.7 | ||||||
Collateralized
debt obligations | 56.4 | 56.4 | ||||||
Other debt obligations | 2.2 | 2.2 | ||||||
Other investments: | ||||||||
Other
limited partnership interests | 136.2 | 136.2 |
(1) | Our risk of loss is limited to our initial investment measured at amortized cost for fixed maturities, available-for-sale and other investments. Our risk of loss is limited to our initial investment measured at fair value for our fixed maturities, trading. |
Other-than- | |||||||||||||||||
Gross | Gross | temporary | |||||||||||||||
Amortized | unrealized | unrealized | impairments
in | ||||||||||||||
cost | gains | losses | Fair value | AOCI (1) | |||||||||||||
(in
millions) | |||||||||||||||||
Fixed
maturities, available-for-sale: | |||||||||||||||||
U.S.
government and agencies | $ | 807.0 | $ | 12.7 | $ | 50.0 | $ | 769.7 | $ | - | |||||||
Non-U.S.
government and agencies | 451.4 | 73.3 | 1.1 | 523.6 | - | ||||||||||||
States
and political subdivisions | 3,597.0 | 120.8 | 85.4 | 3,632.4 | - | ||||||||||||
Corporate | 27,677.2 | 1,811.1 | 271.1 | 29,217.2 | 17.2 | ||||||||||||
Residential
mortgage-backed pass-through securities | 2,779.2 | 91.1 | 46.7 | 2,823.6 | - | ||||||||||||
Commercial
mortgage-backed securities | 4,078.0 | 170.6 | 222.2 | 4,026.4 | 183.4 | ||||||||||||
Collateralized
debt obligations | 391.9 | 6.0 | 34.5 | 363.4 | 0.7 | ||||||||||||
Other
debt obligations | 4,157.5 | 51.8 | 41.5 | 4,167.8 | 76.3 | ||||||||||||
Total
fixed maturities, available-for-sale | $ | 43,939.2 | $ | 2,337.4 | $ | 752.5 | $ | 45,524.1 | $ | 277.6 | |||||||
Total
equity securities, available-for-sale | $ | 108.2 | $ | 7.7 | $ | 13.3 | $ | 102.6 | |||||||||
Fixed
maturities, available-for-sale: | |||||||||||||||||
U.S.
government and agencies | $ | 851.7 | $ | 30.8 | $ | 0.3 | $ | 882.2 | $ | - | |||||||
Non-U.S.
government and agencies | 545.5 | 117.9 | - | 663.4 | - | ||||||||||||
States
and political subdivisions | 2,940.4 | 241.1 | 2.7 | 3,178.8 | - | ||||||||||||
Corporate | 28,816.1 | 2,875.7 | 275.4 | 31,416.4 | 17.1 | ||||||||||||
Residential
mortgage-backed pass-through securities | 2,997.8 | 202.3 | 0.4 | 3,199.7 | - | ||||||||||||
Commercial
mortgage-backed securities | 4,094.8 | 241.7 | 439.1 | 3,897.4 | 195.4 | ||||||||||||
Collateralized
debt obligations | 428.8 | 7.0 | 56.6 | 379.2 | 4.3 | ||||||||||||
Other
debt obligations | 3,756.9 | 73.5 | 51.2 | 3,779.2 | 82.8 | ||||||||||||
Total
fixed maturities, available-for-sale | $ | 44,432.0 | $ | 3,790.0 | $ | 825.7 | $ | 47,396.3 | $ | 299.6 | |||||||
Total
equity securities, available-for-sale | $ | 129.4 | $ | 10.4 | $ | 8.5 | $ | 131.3 |
(1) | Excludes
$148.6 million and $98.6 million as of December 31, 2013 and December 31, 2012, respectively, of net unrealized gains on impaired fixed maturities, available-for-sale related to changes in fair value subsequent to the impairment date, which are included in gross unrealized gains and gross unrealized losses. |
Amortized cost | Fair value | |||||
(in
millions) | ||||||
Due in one year or less | $ | 2,919.4 | $ | 2,960.9 | ||
Due after one year through five years | 12,575.2 | 13,195.5 | ||||
Due
after five years through ten years | 8,373.9 | 8,782.9 | ||||
Due after ten years | 8,664.1 | 9,203.6 | ||||
Subtotal | 32,532.6 | 34,142.9 | ||||
Mortgage-backed
and other asset-backed securities | 11,406.6 | 11,381.2 | ||||
Total | $ | 43,939.2 | $ | 45,524.1 |
For
the year ended December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||
(in
millions) | ||||||||||
Fixed maturities, available-for-sale | $ | 2,109.3 | $ | 2,228.5 | $ | 2,342.1 | ||||
Fixed maturities, trading | 11.2 | 15.1 | 19.4 | |||||||
Equity
securities, available-for-sale | 6.9 | 8.3 | 10.4 | |||||||
Equity securities, trading | 2.8 | 2.9 | 1.3 | |||||||
Mortgage
loans | 565.2 | 588.9 | 593.8 | |||||||
Real estate | 60.7 | 70.6 | 73.4 | |||||||
Policy
loans | 43.5 | 47.1 | 51.7 | |||||||
Cash and cash equivalents | 4.4 | 4.9 | 5.6 | |||||||
Derivatives | (115.2) | (129.8) | (156.7) | |||||||
Other | 67.2 | 54.5 | 57.9 | |||||||
Total | 2,756.0 | 2,891.0 | 2,998.9 | |||||||
Investment
expenses | (74.5) | (79.2) | (80.9) | |||||||
Net investment income | $ | 2,681.5 | $ | 2,811.8 | $ | 2,918.0 |
Net Realized Capital Gains and Losses | ||||||||||
For
the year ended December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||
(in
millions) | ||||||||||
Fixed maturities, available-for-sale: | ||||||||||
Gross gains | $ | 37.9 | $ | 26.4 | $ | 23.0 | ||||
Gross
losses | (115.2) | (143.9) | (147.5) | |||||||
Other-than-temporary impairment losses reclassified | ||||||||||
to
(from) OCI | (22.0) | 17.3 | (52.3) | |||||||
Hedging, net | (115.5) | (27.5) | 130.5 | |||||||
Fixed
maturities, trading | (5.2) | 4.9 | (9.5) | |||||||
Equity securities, available-for-sale: | ||||||||||
Gross
gains | 0.8 | 0.5 | 2.3 | |||||||
Gross losses | (0.3) | (0.9) | (6.4) | |||||||
Equity
securities, trading | 22.4 | 26.3 | 19.8 | |||||||
Mortgage loans | (16.0) | (51.0) | (42.8) | |||||||
Derivatives | (22.9) | (21.7) | (159.5) | |||||||
Other | 24.7 | 241.7 | 143.7 | |||||||
Net
realized capital gains (losses) | $ | (211.3) | $ | 72.1 | $ | (98.7) |
For
the year ended December 31, | |||||||||||
2013 | 2012 | 2011 | |||||||||
(in
millions) | |||||||||||
Fixed maturities, available-for-sale | $ | (89.5) | $ | (135.5) | $ | (134.5) | |||||
Equity securities, available-for-sale | (0.3) | (0.4) | (3.8) | ||||||||
Total
other-than-temporary impairment losses, net of recoveries from | |||||||||||
the sale of previously impaired securities | (89.8) | (135.9) | (138.3) | ||||||||
Other-than-temporary
impairment losses on fixed maturities, | |||||||||||
available-for-sale reclassified to (from) OCI (1) | (22.0) | 17.3 | (52.3) | ||||||||
Net
impairment losses on available-for-sale securities | $ | (111.8) | $ | (118.6) | $ | (190.6) |
(1) | Represents the net impact of (a) gains resulting from reclassification of noncredit impairment losses for fixed maturities with bifurcated
OTTI from net realized capital gains (losses) to OCI and (b) losses resulting from reclassification of previously recognized noncredit impairment losses from OCI to net realized capital gains (losses) for fixed maturities with bifurcated OTTI that had additional credit losses or fixed maturities that previously had bifurcated OTTI that have now been sold or are intended to be sold. |
For the year ended December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||
(in
millions) | ||||||||||
Beginning balance | $ | (329.0 | ) | $ | (428.0) | $ | (325.7) | |||
Credit losses for which an other-than-temporary impairment was | ||||||||||
not
previously recognized | (15.1 | ) | (21.3) | (31.0) | ||||||
Credit losses for which an other-than-temporary impairment was | ||||||||||
previously
recognized | (75.9 | ) | (80.0) | (135.6) | ||||||
Reduction for credit losses previously recognized on fixed maturities | ||||||||||
now
sold, paid down or intended to be sold | 172.0 | 191.9 | 68.2 | |||||||
Net reduction (increase) for positive changes in cash flows expected | ||||||||||
to
be collected and amortization (1) | 12.6 | 8.4 | (3.9) | |||||||
Ending balance | $ | (235.4) | $ | (329.0) | $ | (428.0) |
Less
than | Greater than or | ||||||||||||||||||
twelve months | equal to twelve months | Total | |||||||||||||||||
Gross | Gross | Gross | |||||||||||||||||
Fair | unrealized | Fair | unrealized | Fair | unrealized | ||||||||||||||
value | losses | value | losses | value | losses | ||||||||||||||
(in
millions) | |||||||||||||||||||
Fixed maturities, available-for-sale: | |||||||||||||||||||
U.S.
government and agencies | $ | 517.2 | $ | 49.2 | $ | 9.2 | $ | 0.8 | $ | 526.4 | $ | 50.0 | |||||||
Non-U.S.
governments | 23.7 | 1.1 | - | - | 23.7 | 1.1 | |||||||||||||
States
and political subdivisions | 1,319.0 | 75.0 | 46.1 | 10.4 | 1,365.1 | 85.4 | |||||||||||||
Corporate | 3,757.8 | 143.5 | 1,033.8 | 127.6 | 4,791.6 | 271.1 | |||||||||||||
Residential
mortgage-backed pass- | |||||||||||||||||||
through
securities | 1,150.3 | 38.2 | 85.9 | 8.5 | 1,236.2 | 46.7 | |||||||||||||
Commercial
mortgage-backed | |||||||||||||||||||
securities | 683.7 | 15.3 | 495.6 | 206.9 | 1,179.3 | 222.2 | |||||||||||||
Collateralized
debt obligations | 88.8 | 1.4 | 47.4 | 33.1 | 136.2 | 34.5 | |||||||||||||
Other
debt obligations | 1,359.0 | 16.1 | 287.9 | 25.4 | 1,646.9 | 41.5 | |||||||||||||
Total
fixed maturities, available-for-sale | $ | 8,899.5 | $ | 339.8 | $ | 2,005.9 | $ | 412.7 | $ | 10,905.4 | $ | 752.5 | |||||||
Total
equity securities, available-for-sale | $ | 16.7 | $ | 0.3 | $ | 48.3 | $ | 13.0 | $ | 65.0 | $ | 13.3 |
Less than | Greater than or | ||||||||||||||||||
twelve months | equal
to twelve months | Total | |||||||||||||||||
Gross | Gross | Gross | |||||||||||||||||
Fair | unrealized | Fair | unrealized | Fair | unrealized | ||||||||||||||
value | losses | value | losses | value | losses | ||||||||||||||
(in
millions) | |||||||||||||||||||
Fixed maturities, available-for-sale: | |||||||||||||||||||
U.S.
government and agencies | $ | 115.4 | $ | 0.3 | $ | - | $ | - | $ | 115.4 | $ | 0.3 | |||||||
States
and political subdivisions | 235.3 | 2.1 | 8.8 | 0.6 | 244.1 | 2.7 | |||||||||||||
Corporate | 554.3 | 7.2 | 1,692.4 | 268.2 | 2,246.7 | 275.4 | |||||||||||||
Residential
mortgage-backed pass- | |||||||||||||||||||
through
securities | 70.4 | 0.3 | 2.4 | 0.1 | 72.8 | 0.4 | |||||||||||||
Commercial
mortgage-backed | |||||||||||||||||||
securities | 98.9 | 3.3 | 785.0 | 435.8 | 883.9 | 439.1 | |||||||||||||
Collateralized
debt obligations | 72.2 | 1.0 | 133.8 | 55.6 | 206.0 | 56.6 | |||||||||||||
Other
debt obligations | 235.6 | 2.0 | 414.9 | 49.2 | 650.5 | 51.2 | |||||||||||||
Total
fixed maturities, available-for-sale | $ | 1,382.1 | $ | 16.2 | $ | 3,037.3 | $ | 809.5 | $ | 4,419.4 | $ | 825.7 | |||||||
Total
equity securities, available-for-sale | $ | 5.8 | $ | 0.1 | $ | 52.9 | $ | 8.4 | $ | 58.7 | $ | 8.5 |
(in
millions) | ||||||
Net unrealized gains on fixed maturities, available-for-sale (1) | $ | 1,893.0 | $ | 3,300.4 | ||
Noncredit component of impairment losses on fixed maturities, available-for-sale | (277.6) | (299.6) | ||||
Net
unrealized gains (losses) on equity securities, available-for-sale | (5.6) | 1.9 | ||||
Adjustments for assumed changes in amortization patterns | (265.9) | (515.2) | ||||
Adjustments
for assumed changes in policyholder liabilities | (498.0) | (990.3) | ||||
Net unrealized gains on derivative instruments | 107.1 | 148.4 | ||||
Net unrealized gains on equity
method subsidiaries and noncontrolling interest | ||||||
adjustments | 45.6 | 91.3 | ||||
Provision for deferred
income taxes | (348.5) | (607.7) | ||||
Net unrealized gains on available-for-sale securities and derivative instruments | $ | 650.1 | $ | 1,129.2 |
(1) | Excludes
net unrealized gains (losses) on fixed maturities, available-for-sale included in fair value hedging relationships. |
(in millions) | ||||||
Commercial
mortgage loans | $ | 10,282.5 | $ | 10,219.5 | ||
Residential mortgage loans | 605.7 | 702.1 | ||||
10,888.2 | 10,921.6 | |||||
Valuation
allowance | (69.0) | (96.2) | ||||
Total carrying value | $ | 10,819.2 | $ | 10,825.4 |
Amortized | Percent | Amortized | Percent | ||||||||||
cost | of
total | cost | of total | ||||||||||
(in
millions) | |||||||||||||
Geographic distribution | |||||||||||||
New
England | $ | 528.5 | 5.1 | % | $ | 536.6 | 5.3 | % | |||||
Middle Atlantic | 2,489.0 | 24.1 | 2,233.4 | 21.9 | |||||||||
East
North Central | 519.9 | 5.1 | 635.6 | 6.2 | |||||||||
West North
Central | 302.9 | 2.9 | 377.3 | 3.7 | |||||||||
South Atlantic | 1,949.5 | 19.0 | 2,135.0 | 20.9 | |||||||||
East
South Central | 192.8 | 1.9 | 244.8 | 2.3 | |||||||||
West South
Central | 830.3 | 8.1 | 767.9 | 7.5 | |||||||||
Mountain | 747.1 | 7.3 | 726.6 | 7.1 | |||||||||
Pacific | 2,722.5 | 26.5 | 2,562.3 | 25.1 | |||||||||
Total | $ | 10,282.5 | 100.0 | % | $ | 10,219.5 | 100.0 | % | |||||
Property
type distribution | |||||||||||||
Office | $ | 3,360.5 | 32.6 | % | $ | 3,078.8 | 30.1 | % | |||||
Retail | 2,668.5 | 26.0 | 2,928.3 | 28.6 | |||||||||
Industrial | 1,766.2 | 17.2 | 1,765.5 | 17.3 | |||||||||
Apartments | 1,911.2 | 18.6 | 1,685.9 | 16.5 | |||||||||
Hotel | 333.1 | 3.2 | 445.8 | 4.4 | |||||||||
Mixed
use/other | 243.0 | 2.4 | 315.2 | 3.1 | |||||||||
Total | $ | 10,282.5 | 100.0 | % | $ | 10,219.5 | 100.0 | % |
Brick and mortar | CTL | Total | |||||||
(in
millions) | |||||||||
A- and above | $ | 8,067.1 | $ | 194.5 | $ | 8,261.6 | |||
BBB+ thru BBB- | 1,444.3 | 250.0 | 1,694.3 | ||||||
BB+
thru BB- | 155.4 | 0.1 | 155.5 | ||||||
B+ and below | 169.1 | 2.0 | 171.1 | ||||||
Total | $ | 9,835.9 | $ | 446.6 | $ | 10,282.5 | |||
Brick and mortar | CTL | Total | |||||||
(in
millions) | |||||||||
A- and above | $ | 7,255.0 | $ | 231.3 | $ | 7,486.3 | |||
BBB+ thru BBB- | 1,792.6 | 294.9 | 2,087.5 | ||||||
BB+
thru BB- | 266.8 | 1.6 | 268.4 | ||||||
B+ and below | 375.0 | 2.3 | 377.3 | ||||||
Total | $ | 9,689.4 | $ | 530.1 | $ | 10,219.5 |
Home equity | First liens | Total | |||||||
(in
millions) | |||||||||
Performing | $ | 378.3 | $ | 203.6 | $ | 581.9 | |||
Nonperforming | 16.6 | 7.2 | 23.8 | ||||||
Total | $ | 394.9 | $ | 210.8 | $ | 605.7 | |||
Home equity | First liens | Total | |||||||
(in
millions) | |||||||||
Performing | $ | 472.6 | $ | 197.2 | $ | 669.8 | |||
Nonperforming | |||||||||
Total | $ | 495.7 | $ | 206.4 | $ | 702.1 |
(in millions) | |||||||
Commercial: | |||||||
Brick
and mortar | $ | 33.2 | $ | 44.5 | |||
Residential: | |||||||
Home equity | 16.6 | 23.1 | |||||
First
liens | 7.2 | 9.1 | |||||
Total | $ | 57.0 | $ | 76.7 |
90
days or | ||||||||||||||||||
60-89 days | more
past | Total past | ||||||||||||||||
past due | past due | due | due | Current | Total
loans | |||||||||||||
(in
millions) | ||||||||||||||||||
Commercial-brick and mortar | $ | - | $ | - | $ | 16.7 | $ | 16.7 | $ | 9,819.2 | $ | 9,835.9 | ||||||
Commercial-CTL | - | - | - | - | 446.6 | 446.6 | ||||||||||||
Residential-home
equity | 4.4 | 1.0 | 3.0 | 8.4 | 386.5 | 394.9 | ||||||||||||
Residential-first
liens | 1.2 | 0.3 | 5.6 | 7.1 | 203.7 | 210.8 | ||||||||||||
Total | $ | 5.6 | $ | 1.3 | $ | 25.3 | $ | 32.2 | $ | 10,856.0 | $ | 10,888.2 | ||||||
90
days or | ||||||||||||||||||
30-59 days | 60-89 days | more
past | Total past | |||||||||||||||
past due | past due | due | due | Current | Total
loans | |||||||||||||
(in
millions) | ||||||||||||||||||
Commercial-brick and mortar | $ | 32.8 | $ | 13.7 | $ | - | $ | 46.5 | $ | 9,642.9 | $ | 9,689.4 | ||||||
Commercial-CTL | - | - | - | - | 530.1 | 530.1 | ||||||||||||
Residential-home
equity | 5.7 | 2.8 | 3.9 | 12.4 | 483.3 | 495.7 | ||||||||||||
Residential-first
liens | 1.5 | 0.4 | 7.7 | 9.6 | 196.8 | 206.4 | ||||||||||||
Total | $ | 40.0 | $ | 16.9 | $ | 11.6 | $ | 68.5 | $ | 10,853.1 | $ | 10,921.6 |
Commercial | Residential | Total | ||||||||
(in
millions) | ||||||||||
For the year ended December 31, 2013 | ||||||||||
Beginning balance | $ | 51.8 | $ | 44.4 | $ | 96.2 | ||||
Provision | 4.1 | 11.1 | 15.2 | |||||||
Charge-offs | (28.0) | (18.3) | (46.3) | |||||||
Recoveries | 0.8 | 3.1 | 3.9 | |||||||
Ending
balance | $ | 28.7 | $ | 40.3 | $ | 69.0 | ||||
Allowance ending balance by basis of impairment method: | ||||||||||
Individually
evaluated for impairment | $ | 2.4 | $ | 9.8 | $ | 12.2 | ||||
Collectively evaluated for impairment | 26.3 | 30.5 | 56.8 | |||||||
Allowance
ending balance | $ | 28.7 | $ | 40.3 | $ | 69.0 | ||||
Loan balance by basis of impairment method: | ||||||||||
Individually
evaluated for impairment | $ | 4.4 | $ | 31.4 | $ | 35.8 | ||||
Collectively evaluated for impairment | 10,278.1 | 574.3 | 10,852.4 | |||||||
Loan
ending balance | $ | 10,282.5 | $ | 605.7 | $ | 10,888.2 | ||||
For
the year ended December 31, 2012 | ||||||||||
Beginning balance | $ | 64.8 | $ | 36.0 | $ | 100.8 | ||||
Provision | 13.5 | 39.9 | 53.4 | |||||||
Charge-offs | (26.7) | (35.1) | (61.8) | |||||||
Recoveries | 0.2 | 3.6 | 3.8 | |||||||
Ending
balance | $ | 51.8 | $ | 44.4 | $ | 96.2 | ||||
Allowance ending balance by basis of impairment method: | ||||||||||
Individually
evaluated for impairment | $ | 2.4 | $ | 9.8 | $ | 12.2 | ||||
Collectively evaluated for impairment | 49.4 | 34.6 | 84.0 | |||||||
Allowance
ending balance | $ | 51.8 | $ | 44.4 | $ | 96.2 | ||||
Loan balance by basis of impairment method: | ||||||||||
Individually
evaluated for impairment | $ | 13.6 | $ | 37.5 | $ | 51.1 | ||||
Collectively evaluated for impairment | 10,205.9 | 664.6 | 10,870.5 | |||||||
Loan
ending balance | $ | 10,219.5 | $ | 702.1 | $ | 10,921.6 | ||||
For
the year ended December 31, 2011 | ||||||||||
Beginning balance | $ | 80.6 | $ | 37.7 | $ | 118.3 | ||||
Provision | 17.0 | 28.5 | 45.5 | |||||||
Charge-offs | (32.9) | (33.4) | (66.3) | |||||||
Recoveries | 0.1 | 3.2 | 3.3 | |||||||
Ending
balance | $ | 64.8 | $ | 36.0 | $ | 100.8 | ||||
Allowance ending balance by basis of impairment method: | ||||||||||
Individually
evaluated for impairment | $ | 16.3 | $ | 2.4 | $ | 18.7 | ||||
Collectively evaluated for impairment | 48.5 | 33.6 | 82.1 | |||||||
Allowance
ending balance | $ | 64.8 | $ | 36.0 | $ | 100.8 | ||||
Loan balance by basis of impairment method: | ||||||||||
Individually
evaluated for impairment | $ | 114.0 | $ | 24.2 | $ | 138.2 | ||||
Collectively evaluated for impairment | 9,336.8 | 757.8 | 10,094.6 | |||||||
Loan
ending balance | $ | 9,450.8 | $ | 782.0 | $ | 10,232.8 |
Unpaid | |||||||||
Recorded | principal | Related | |||||||
investment | balance | allowance | |||||||
(in
millions) | |||||||||
With no related allowance recorded: | |||||||||
Commercial-brick and mortar | $ | 21.5 | $ | 32.7 | $ | - | |||
Residential-first
liens | 4.6 | 4.6 | - | ||||||
With an allowance recorded: | |||||||||
Commercial-brick
and mortar | 4.4 | 4.4 | 2.4 | ||||||
Residential-home equity | 19.5 | 19.7 | 9.2 | ||||||
Residential-first
liens | 7.3 | 6.2 | 0.6 | ||||||
Total: | |||||||||
Commercial | $ | 25.9 | $ | 37.1 | $ | 2.4 | |||
Residential | $ | 31.4 | $ | 30.5 | $ | 9.8 | |||
Unpaid | |||||||||
Recorded | principal | Related | |||||||
investment | balance | allowance | |||||||
(in
millions) | |||||||||
With no related allowance recorded: | |||||||||
Commercial-brick and mortar | $ | 22.9 | $ | 25.3 | $ | - | |||
Residential-first
liens | 9.7 | 6.6 | - | ||||||
With an allowance recorded: | |||||||||
Commercial-brick
and mortar | 4.4 | 4.4 | 2.4 | ||||||
Residential-home equity | 20.8 | 20.7 | 9.1 | ||||||
Residential-first
liens | 7.1 | 6.9 | 0.7 | ||||||
Total: | |||||||||
Commercial | $ | 27.3 | $ | 29.7 | $ | 2.4 | |||
Residential | $ | 37.6 | $ | 34.2 | $ | 9.8 |
Average | ||||||
recorded | Interest
income | |||||
investment | recognized | |||||
(in
millions) | ||||||
For the year ended December 31, 2013 | ||||||
With no related allowance recorded: | ||||||
Commercial-brick
and mortar | $ | 22.2 | $ | 0.2 | ||
Residential-first liens | 7.2 | - | ||||
With an allowance recorded: | ||||||
Commercial-brick
and mortar | 4.4 | 0.3 | ||||
Residential-home equity | 20.2 | 1.1 | ||||
Residential-first
liens | 7.1 | 0.2 | ||||
Total: | ||||||
Commercial | $ | 26.6 | $ | 0.5 | ||
Residential | $ | 34.5 | $ | 1.3 | ||
For
the year ended December 31, 2012 | ||||||
With no related allowance recorded: | ||||||
Commercial-brick
and mortar | $ | 11.4 | $ | 2.6 | ||
Residential-first liens | 7.0 | - | ||||
With an allowance recorded: | ||||||
Commercial-brick
and mortar | 59.2 | 0.2 | ||||
Residential-home equity | 17.7 | 0.9 | ||||
Residential-first
liens | 6.2 | 0.1 | ||||
Total: | ||||||
Commercial | $ | 70.6 | $ | 2.8 | ||
Residential | $ | 30.9 | $ | 1.0 | ||
For
the year ended December 31, 2011 | ||||||
With no related allowance recorded: | ||||||
Commercial-brick
and mortar | $ | 11.3 | $ | 0.9 | ||
Residential-first liens | 4.4 | - | ||||
With an allowance recorded: | ||||||
Commercial-brick
and mortar | 79.0 | 1.0 | ||||
Residential-home equity | 12.6 | 0.8 | ||||
Residential-first
liens | 5.6 | 0.2 | ||||
Total: | ||||||
Commercial | $ | 90.3 | $ | 1.9 | ||
Residential | $ | 22.6 | $ | 1.0 |
For
the year ended December 31, 2013 | ||||||||||
TDRs | TDRs in payment default | |||||||||
Number
of | Recorded | Number of | Recorded | |||||||
contracts | investment | contracts | investment | |||||||
(in
millions) | (in millions) | |||||||||
Commercial-brick and mortar | 2 | $ | 0.9 | - | $ | - | ||||
Residential-home
equity | 69 | 3.8 | 19 | - | ||||||
Residential-first liens | 3 | 0.6 | 1 | 0.3 | ||||||
Total | 74 | $ | 5.3 | 20 | $ | 0.3 | ||||
For
the year ended December 31, 2012 | ||||||||||
TDRs | TDRs in payment default | |||||||||
Number
of | Recorded | Number of | Recorded | |||||||
contracts | investment | contracts | investment | |||||||
(in
millions) | (in millions) | |||||||||
Commercial-brick and mortar | 2 | $ | 18.0 | 1 | $ | 13.7 | ||||
Residential-home
equity | 324 | 15.0 | 12 | - | ||||||
Residential-first liens | 12 | 2.1 | - | - | ||||||
Total | 338 | $ | 35.1 | 13 | $ | 13.7 | ||||
For
the year ended December 31, 2011 | ||||||||||
TDRs | TDRs in payment default | |||||||||
Number
of | Recorded | Number of | Recorded | |||||||
contracts | investment | contracts | investment | |||||||
(in
millions) | (in millions) | |||||||||
Commercial-brick and mortar | 1 | $ | 4.4 | 1 | $ | 4.4 | ||||
Residential-home
equity | 151 | 7.9 | 6 | - | ||||||
Residential-first liens | 7 | 1.6 | 1 | 0.3 | ||||||
Total | 159 | $ | 13.9 | 8 | $ | 4.7 |
2013 | 2012 | ||||||||
(in
millions) | |||||||||
Total assets | $ | 7,985.3 | $ | 8,296.1 | |||||
Total
liabilities | 2,781.1 | 2,926.2 | |||||||
Total equity | $ | 5,204.2 | $ | 5,369.9 | |||||
Net
investment in unconsolidated entities | $ | 384.3 | $ | 375.8 | |||||
For
the year ended December 31, | |||||||||
2013 | 2012 | 2011 | |||||||
(in
millions) | |||||||||
Total revenues | $ | 773.7 | $ | 844.0 | $ | 2,106.1 | |||
Total expenses | 394.6 | 421.9 | 1,723.3 | ||||||
Net
income | 368.3 | 392.1 | 377.4 | ||||||
Our share of net income of unconsolidated entities | 43.9 | 31.5 | 34.0 |
Gross
amounts not offset in the | |||||||||||||
Statement of Financial Position | |||||||||||||
Gross
amount | |||||||||||||
of recognized | Financial | Collateral | |||||||||||
assets
(1) | instruments (2) | received | Net amount | ||||||||||
(in
millions) | |||||||||||||
Derivative
assets | $ | 651.1 | $ | (576.9) | $ | (70.6) | $ | 3.6 | |||||
Derivative
assets | $ | 991.0 | $ | (776.4) | $ | (210.1) | $ | 4.5 | |||||
Reverse repurchase agreements | 90.0 | - | (90.0) | - | |||||||||
Total | $ | 1,081.0 | (776.4) | (300.1) | $ | 4.5 |
(1) | The
gross amount of recognized derivative and reverse repurchase agreement assets are reported with other investments on the consolidated statements of financial position. The gross amounts of derivative and reverse repurchase agreement assets are not netted against offsetting liabilities for presentation on the consolidated statements of financial position. |
(2) | Represents amount of offsetting derivative liabilities that are subject to an enforceable master netting agreement or similar agreement that are not netted against the gross derivative assets for presentation on the consolidated statements of financial position. |
Gross
amounts not offset in the | |||||||||||||
Statement of Financial Position | |||||||||||||
Gross
amount | |||||||||||||
of recognized | Financial | Collateral | |||||||||||
liabilities
(1) | instruments (2) | pledged | Net amount | ||||||||||
(in
millions) | |||||||||||||
Derivative
liabilities | $ | 1,017.3 | $ | (576.9) | $ | (362.1) | $ | 78.3 | |||||
Derivative
liabilities | $ | 1,195.3 | $ | (776.4) | $ | (279.1) | $ | 139.8 |
(1) | The
gross amount of recognized derivative liabilities are reported with other liabilities and contractholder funds on the consolidated statements of financial position. The above excludes $207.7 million and $305.4 million of derivative liabilities as of December 31, 2013 and December 31, 2012, respectively, which are primarily embedded derivatives that are not subject to master netting agreements or similar agreements. The gross amounts of derivative liabilities are not netted against offsetting assets for presentation on the consolidated statements of financial position. |
(2) | Represents amount of offsetting derivative assets that are subject to an enforceable
master netting agreement or similar agreement that are not netted against the gross derivative liabilities for presentation on the consolidated statements of financial position. |
(in
millions) | ||||||
Notional amounts of derivative instruments | ||||||
Interest rate contracts: | ||||||
Interest
rate swaps | $ | 20,570.8 | $ | 18,371.2 | ||
Interest rate options | 4,100.0 | 500.0 | ||||
Swaptions | 325.0 | 325.0 | ||||
Interest
rate futures | 92.5 | 82.0 | ||||
Foreign exchange contracts: | ||||||
Currency swaps | 2,247.1 | 3,373.6 | ||||
Equity
contracts: | ||||||
Equity options | 2,010.4 | 1,811.8 | ||||
Equity
futures | 273.3 | 373.6 | ||||
Credit contracts: | ||||||
Credit default swaps | 1,153.2 | 1,378.3 | ||||
Total
return swaps | 90.0 | 100.0 | ||||
Futures | 9.1 | - | ||||
Other contracts: | ||||||
Embedded
derivative financial instruments | 7,036.0 | 5,344.7 | ||||
Total notional amounts at end of period | $ | 37,907.4 | $ | 31,660.2 | ||
Credit
exposure of derivative instruments | ||||||
Interest rate contracts: | ||||||
Interest rate swaps | $ | 435.5 | $ | 683.9 | ||
Interest
rate options | 42.5 | 48.5 | ||||
Swaptions | 1.0 | 0.7 | ||||
Foreign exchange contracts: | ||||||
Currency
swaps | 187.5 | 246.8 | ||||
Equity contracts: | ||||||
Equity options | 30.0 | 74.3 | ||||
Credit
contracts: | ||||||
Credit default swaps | 9.5 | 6.8 | ||||
Total
return swaps | 0.1 | - | ||||
Total gross credit exposure | 706.1 | 1,061.0 | ||||
Less: collateral received | 104.5 | 232.6 | ||||
Net
credit exposure | $ | 601.6 | $ | 828.4 |
Derivative assets (1) | Derivative liabilities (2) | ||||||||||||
(in
millions) | |||||||||||||
Derivatives designated as hedging | |||||||||||||
instruments | |||||||||||||
Interest
rate contracts | $ | 0.1 | $ | 10.3 | $ | 285.4 | $ | 440.5 | |||||
Foreign exchange contracts | 121.6 | 190.0 | 51.2 | 127.2 | |||||||||
Total
derivatives designated as hedging | |||||||||||||
instruments | $ | 121.7 | $ | 200.3 | $ | 336.6 | $ | 567.7 | |||||
Derivatives
not designated as hedging | |||||||||||||
instruments | |||||||||||||
Interest
rate contracts | $ | 452.2 | $ | 677.1 | $ | 489.6 | $ | 493.4 | |||||
Foreign exchange contracts | 37.6 | 32.5 | 10.6 | 10.1 | |||||||||
Equity
contracts | 30.0 | 74.3 | 145.0 | 27.6 | |||||||||
Credit contracts | 9.6 | 6.8 | 35.5 | 96.5 | |||||||||
Other
contracts | - | - | 207.7 | 305.4 | |||||||||
Total derivatives not designated as hedging | |||||||||||||
instruments | 529.4 | 790.7 | 888.4 | 933.0 | |||||||||
Total
derivative instruments | $ | 651.1 | $ | 991.0 | $ | 1,225.0 | $ | 1,500.7 |
Weighted | |||||||||||||
Maximum | average | ||||||||||||
Notional | Fair | future | expected
life | ||||||||||
amount | value | payments | (in years) | ||||||||||
(in
millions) | |||||||||||||
Single name credit default swaps | |||||||||||||
Corporate
debt | |||||||||||||
AAA | $ | 10.0 | $ | 0.3 | $ | 10.0 | 4.7 | ||||||
AA | 84.0 | 1.8 | 84.0 | 4.0 | |||||||||
A | 294.5 | 4.2 | 294.5 | 4.0 | |||||||||
BBB | 265.0 | (1.2) | 265.0 | 3.9 | |||||||||
Total
single name credit default swaps | 653.5 | 5.1 | 653.5 | 4.0 | |||||||||
Basket
and index credit default swaps | |||||||||||||
Corporate debt | |||||||||||||
Near
default (1) | 110.4 | (19.9) | 110.4 | 3.2 | |||||||||
Government/municipalities | |||||||||||||
AA | 30.0 | (3.5) | 30.0 | 3.7 | |||||||||
Structured
finance | |||||||||||||
BBB | 25.0 | (0.9) | 25.0 | 3.5 | |||||||||
Total
basket and index credit default swaps | 165.4 | (24.3) | 165.4 | 3.4 | |||||||||
Total credit default swap protection sold | $ | 818.9 | $ | (19.2) | $ | 818.9 | 3.9 |
Weighted | |||||||||||||
Maximum | average | ||||||||||||
Notional | Fair | future | expected
life | ||||||||||
amount | value | payments | (in years) | ||||||||||
(in
millions) | |||||||||||||
Single name credit default swaps | |||||||||||||
Corporate
debt | |||||||||||||
AA | $ | 70.0 | $ | (0.2) | $ | 70.0 | 2.5 | ||||||
A | 572.0 | 2.4 | 572.0 | 2.4 | |||||||||
BBB | 200.0 | (1.6) | 200.0 | 3.0 | |||||||||
Structured
finance | |||||||||||||
11.1 | (11.0) | 11.1 | 8.5 | ||||||||||
Total
single name credit default swaps | 853.1 | (10.4) | 853.1 | 2.6 | |||||||||
Basket
and index credit default swaps | |||||||||||||
Corporate debt | |||||||||||||
Near
default (1) | 110.4 | (65.2) | 110.4 | 4.2 | |||||||||
Government/municipalities | |||||||||||||
AA | 30.0 | (7.3) | 30.0 | 4.7 | |||||||||
Structured
finance | |||||||||||||
25.0 | (5.6) | 25.0 | 4.5 | ||||||||||
Total
basket and index credit default swaps | 165.4 | (78.1) | 165.4 | 4.4 | |||||||||
Total credit default swap protection sold | $ | 1,018.5 | $ | (88.5) | $ | 1,018.5 | 2.9 |
(1) | Includes
$88.0 million notional of derivatives in consolidated collateralized private investment vehicle VIEs where the credit risk is borne by third-party investors. |
Weighted | ||||||||||
average | ||||||||||
Amortized | Carrying | expected
life | ||||||||
cost | value | (in years) | ||||||||
(in
millions) | ||||||||||
Corporate debt | ||||||||||
BBB | $ | 23.4 | $ | 23.4 | 3.0 | |||||
Total
corporate debt | 23.4 | 23.4 | 3.0 | |||||||
Structured
finance | ||||||||||
A | 18.1 | 16.7 | 4.8 | |||||||
BB | 5.5 | 5.5 | 3.3 | |||||||
B | 4.1 | 4.1 | 3.1 | |||||||
CCC | 23.5 | 23.5 | 4.8 | |||||||
Total
structured finance | 51.2 | 49.8 | 4.5 | |||||||
Total fixed maturities with credit derivatives | $ | 74.6 | $ | 73.2 | 4.0 |
Weighted | ||||||||||
average | ||||||||||
Amortized | Carrying | expected
life | ||||||||
cost | value | (in years) | ||||||||
(in
millions) | ||||||||||
Corporate debt | ||||||||||
BBB | $ | 20.5 | $ | 20.5 | 4.0 | |||||
25.0 | 24.9 | 0.5 | ||||||||
Total
corporate debt | 45.5 | 45.4 | 2.1 | |||||||
Structured
finance | ||||||||||
AA | 4.6 | 4.6 | 17.0 | |||||||
BB | 39.6 | 37.5 | 2.9 | |||||||
B | 4.0 | 4.0 | 4.4 | |||||||
17.7 | 17.7 | 6.4 | ||||||||
Total
structured finance | 65.9 | 63.8 | 4.9 | |||||||
Total fixed maturities with credit derivatives | $ | 111.4 | $ | 109.2 | 3.8 |
Amount
of gain (loss) | Amount of gain (loss) | |||||||||||||||||||||
recognized in net income on | recognized
in net income on | |||||||||||||||||||||
derivatives for the year | Hedged items in fair | related hedged item for the year ended | ||||||||||||||||||||
Derivatives in fair value | ended December 31, (1) | fair
value hedging | December 31, (1) | |||||||||||||||||||
hedging relationships | 2013 | 2012 | 2011 | relationships | 2013 | 2012 | 2011 | |||||||||||||||
(in
millions) | (in millions) | |||||||||||||||||||||
Fixed
maturities, | ||||||||||||||||||||||
Interest rate contracts | $ | 139.5 | $ | 38.6 | $ | (108.5) | available-for-sale | $ | (133.3) | $ | (34.1) | $ | 105.4 | |||||||||
Investment-type | ||||||||||||||||||||||
Interest
rate contracts | (0.7) | - | (2.2) | insurance contracts | 0.2 | - | 2.4 | |||||||||||||||
Foreign
exchange | Fixed maturities, | |||||||||||||||||||||
contracts | (0.2) | 0.7 | 1.1 | available-for-sale | 0.4 | 0.4 | (1.3) | |||||||||||||||
Foreign
exchange | Investment-type | |||||||||||||||||||||
contracts | (36.7) | 9.3 | (25.6) | insurance
contracts | 36.5 | (12.6) | 25.7 | |||||||||||||||
Total | $ | 101.9 | $ | 48.6 | $ | (135.2) | Total | $ | (96.2) | $ | (46.3) | $ | 132.2 |
(1) | The
gain (loss) on both derivatives and hedged items in fair value relationships is reported in net realized capital gains (losses) on the consolidated statements of operations. The net amount represents the ineffective portion of our fair value hedges. |
Amount
of gain (loss) for the year | ||||||||||
ended December 31, | ||||||||||
Hedged Item | 2013 | 2012 | 2011 | |||||||
(in
millions) | ||||||||||
Fixed maturities, available-for-sale (1) | $ | (120.7) | $ | (134.3) | $ | (158.9) | ||||
Investment-type insurance contracts (2) | 33.2 | 37.1 | 44.0 |
Amount
of gain (loss) | Amount of gain (loss) | |||||||||||||||||||||||||
recognized in AOCI on | reclassified
from AOCI on | |||||||||||||||||||||||||
Derivatives in | derivatives (effective portion) | Location of gain (loss) | derivatives (effective portion) | |||||||||||||||||||||||
cash flow | for
the year ended | reclassified from | for the year ended | |||||||||||||||||||||||
hedging | Related | December 31, | AOCI into net income | December
31, | ||||||||||||||||||||||
relationships | hedged item | 2013 | 2012 | 2011 | (effective portion) | 2013 | 2012 | 2011 | ||||||||||||||||||
(in
millions) | (in millions) | |||||||||||||||||||||||||
Interest rate | Fixed maturities, | Net
investment | ||||||||||||||||||||||||
contracts | available-for-sale | $ | (80.5) | $ | 16.2 | $ | 107.1 | income | $ | 11.7 | $ | 8.9 | $ | 7.2 | ||||||||||||
Net
realized capital | ||||||||||||||||||||||||||
losses | - | - | (0.2) | |||||||||||||||||||||||
Interest
rate | Investment-type | Benefits, claims and | ||||||||||||||||||||||||
contracts | insurance
contracts | 2.5 | 2.5 | (1.0) | settlement expenses | - | - | (0.8) | ||||||||||||||||||
Foreign
exchange | Fixed maturities, | Net realized capital | ||||||||||||||||||||||||
contracts | available-for-sale | (0.9) | (27.9) | 29.9 | losses | (16.7) | (6.4) | (20.4) | ||||||||||||||||||
Foreign
exchange | Investment-type | Benefits, claims and | ||||||||||||||||||||||||
contracts | insurance
contract | 5.0 | 7.6 | 12.8 | settlement expenses | - | - | (1.7) | ||||||||||||||||||
Total | $ | (73.9) | $ | (1.6) | $ | 148.8 | Total | $ | (5.0) | $ | 2.5 | $ | (15.9) |
Amount of gain (loss) for the year | ||||||||||
ended
December 31, | ||||||||||
Hedged Item | 2013 | 2012 | 2011 | |||||||
(in millions) | ||||||||||
Fixed maturities, available-for-sale (1) | $ | 7.7 | $ | 8.0 | $ | 9.3 | ||||
Investment-type
insurance contracts (2) | (11.0) | (13.4) | (13.1) |
Amount of gain (loss) recognized in | ||||||||||
net
income on derivatives for the | ||||||||||
year ended December 31, | ||||||||||
Derivatives
not designated as hedging instruments | 2013 | 2012 | 2011 | |||||||
(in millions) | ||||||||||
Interest rate contracts | $ | (137.6) | $ | (7.7) | $ | 133.7 | ||||
Foreign
exchange contracts | 6.1 | 40.0 | (22.9) | |||||||
Equity contracts | (159.4) | (100.5) | 55.3 | |||||||
Credit
contracts | 40.6 | 12.0 | (10.9) | |||||||
Other contracts | 148.3 | 35.7 | (190.4) | |||||||
Total | $ | (102.0) | $ | (20.5) | $ | (35.2) |
(in millions) | ||||||
Closed Block liabilities | ||||||
Future policy benefits and claims | $ | 4,532.0 | $ | 4,664.5 | ||
Other
policyholder funds | 10.5 | 10.7 | ||||
Policyholder dividends payable | 270.5 | 280.6 | ||||
Policyholder dividends obligation | 111.6 | 131.0 | ||||
Deferred
income taxes | 2.2 | - | ||||
Other liabilities | 24.7 | 31.3 | ||||
Total Closed Block liabilities | 4,951.5 | 5,118.1 | ||||
Assets
designated to the Closed Block | ||||||
Fixed maturities, available-for-sale | 2,470.9 | 2,735.1 | ||||
Fixed maturities, trading | 13.4 | 17.0 | ||||
Equity
securities, available-for-sale | 3.6 | 5.5 | ||||
Mortgage loans | 828.6 | 719.4 | ||||
Policy loans | 644.2 | 665.5 | ||||
Other
investments | 118.5 | 158.0 | ||||
Total investments | 4,079.2 | 4,300.5 | ||||
Cash and cash equivalents | 70.3 | 51.3 | ||||
Accrued
investment income | 49.5 | 52.5 | ||||
Premiums due and other receivables | 11.7 | 13.2 | ||||
Deferred tax asset | 66.2 | 39.2 | ||||
Other
assets | 2.2 | - | ||||
Total assets designated to the Closed Block | 4,279.1 | 4,456.7 | ||||
Excess of Closed Block
liabilities over assets designated to the Closed Block | 672.4 | 661.4 | ||||
Amounts included in accumulated other comprehensive income | 12.9 | 62.4 | ||||
Maximum future
earnings to be recognized from Closed Block assets and | ||||||
liabilities | $ | 685.3 | $ | 723.8 |
For the year ended December 31, | |||||||||
2013 | 2012 | 2011 | |||||||
(in
millions) | |||||||||
Revenues | |||||||||
Premiums and other considerations | $ | 379.9 | $ | 397.4 | $ | 428.8 | |||
Net
investment income | 207.7 | 222.8 | 238.2 | ||||||
Net realized capital gains (losses) | (12.3) | 3.6 | 7.9 | ||||||
Total
revenues | 575.3 | 623.8 | 674.9 | ||||||
Expenses | |||||||||
Benefits,
claims and settlement expenses | 320.1 | 325.7 | 370.7 | ||||||
Dividends to policyholders | 184.4 | 192.6 | 204.2 | ||||||
Operating
expenses | 4.7 | 4.9 | 2.9 | ||||||
Total expenses | 509.2 | 523.2 | 577.8 | ||||||
Closed
Block revenues, net of Closed Block expenses, before income taxes | 66.1 | 100.6 | 97.1 | ||||||
Income taxes | 21.1 | 32.6 | 31.2 | ||||||
Closed
Block revenues, net of Closed Block expenses and income taxes | 45.0 | 68.0 | 65.9 | ||||||
Funding adjustment charges | (6.5) | (4.8) | (5.30) | ||||||
Closed
Block revenues, net of Closed Block expenses, income taxes and | |||||||||
funding adjustment charges | $ | 38.5 | $ | 63.2 | $ | 60.6 |
For the year ended December 31, | |||||||||
2013 | 2012 | 2011 | |||||||
(in
millions) | |||||||||
Beginning of year | $ | 723.8 | $ | 787.0 | $ | 847.6 | |||
End of year | 685.3 | 723.8 | 787.0 | ||||||
Change
in maximum future earnings | $ | (38.5) | $ | (63.2) | $ | (60.6) |
For the year ended December 31, | |||||||||
2013 | 2012 | 2011 | |||||||
(in
millions) | |||||||||
Balance at beginning of year | $ | 2,394.7 | $ | 2,197.3 | $ | 2,281.3 | |||
Cost deferred during the year | 393.0 | 393.6 | 316.9 | ||||||
Amortized
to expense during the year (1) | (170.6) | (82.3) | (263.0) | ||||||
Adjustment related to unrealized gains on available-for-sale securities and | |||||||||
derivative
instruments | 231.7 | (113.9) | (137.9) | ||||||
Balance at end of year | $ | 2,848.8 | $ | 2,394.7 | $ | 2,197.3 |
2013 | 2012 | |||||
(in
millions) | ||||||
Liabilities for investment-type insurance contracts: | ||||||
Liabilities for individual annuities | $ | 10,582.7 | $ | 11,315.1 | ||
GICs | 10,858.3 | 10,943.1 | ||||
Funding
agreements | 7,642.9 | 9,077.1 | ||||
Other investment-type insurance contracts | 731.8 | 749.6 | ||||
Total liabilities
for investment-type insurance contracts | 29,815.7 | 32,084.9 | ||||
Universal life and other reserves | 4,812.0 | 4,689.7 | ||||
Total contractholder funds | $ | 34,627.7 | $ | 36,774.6 |
2013 | 2012 | 2011 | |||||||
(in millions) | |||||||||
Balance at beginning of year | $ | 1,066.0 | $ | 1,006.9 | $ | 1,061.8 | |||
Incurred: | |||||||||
Current
year | 712.0 | 711.8 | 1,074.0 | ||||||
Prior years | 1.0 | 9.7 | (10.8) | ||||||
Total
incurred | 713.0 | 721.5 | 1,063.2 | ||||||
Payments: | |||||||||
Current
year | 432.1 | 446.3 | 820.8 | ||||||
Prior years | 202.2 | 216.1 | 297.3 | ||||||
Total
payments | 634.3 | 662.4 | 1,118.1 | ||||||
Balance at end of year: | |||||||||
Current
year | 279.9 | 265.5 | 253.2 | ||||||
Prior years | 864.8 | 800.5 | 753.7 | ||||||
Total
balance at end of year | $ | 1,144.7 | $ | 1,066.0 | $ | 1,006.9 | |||
Amounts
not included in the rollforward above: | |||||||||
Claim adjustment expense liabilities | $ | 43.4 | $ | 46.6 | $ | 42.9 | |||
Reinsurance
recoverables for unpaid claims | 260.1 | 239.1 | 204.7 |
2013 | 2012 | ||||
(in
millions) | |||||
8.0% surplus notes payable, due 2044 | $ | 99.3 | $ | 99.3 | |
Non-recourse mortgages and notes payable | 53.1 | 29.6 | |||
Total
long-term debt | $ | 152.4 | $ | 128.9 |
Year ending December
31: | |||
2014 | $ | 0.1 | |
2015 | 5.3 | ||
2016 | - | ||
2017 | - | ||
2018 | - | ||
Thereafter | 147.0 | ||
Total
future maturities of the long-term debt | $ | 152.4 |
For
the year ended December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||
(in millions) | ||||||||||
Current
income taxes (benefits): | ||||||||||
U.S. federal | $ | 98.2 | $ | (8.1) | $ | 163.3 | ||||
State | 4.9 | 7.6 | 9.1 | |||||||
Foreign | 17.9 | 19.5 | 16.5 | |||||||
Tax
benefit of operating loss carryforward | (130.4) | (70.7) | - | |||||||
Total current income taxes (benefits) | (9.4) | (51.7) | 188.9 | |||||||
U.S.
federal | 181.4 | 206.1 | 43.5 | |||||||
State | 1.4 | (3.1) | (2.0) | |||||||
Foreign | - | - | (5.4) | |||||||
Deferred
income taxes | 182.6 | 203.2 | 36.1 | |||||||
Total income taxes | $ | 173.2 | $ | 151.5 | $ | 225.0 |
For the year ended December
31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
U.S. corporate income tax rate | 35 | % | 35 | % | 35 | % | ||||||
Dividends
received deduction | (13) | (12) | (10) | |||||||||
Interest exclusion from taxable income | (2) | (3) | (3) | |||||||||
Impact
of court ruling on some uncertain tax positions | - | - | 7 | |||||||||
Other | - | (2) | (1) | |||||||||
Effective
income tax rate | 20 | % | 18 | % | 28 | % |
For
the year ended December 31, | ||||||
2013 | 2012 | |||||
(in millions) | ||||||
Balance at beginning of period | $ | 129.1 | $ | 119.5 | ||
Additions
based on tax positions related to the current year | 8.8 | 10.2 | ||||
Additions for tax positions of prior year | - | 4.3 | ||||
Reductions for tax positions related to the
current year | (3.3) | (4.2) | ||||
Reductions for tax positions of prior years | (28.6) | (0.7) | ||||
Balance at end of period (1) | $ | 106.0 | $ | 129.1 |
(1) | Of
this amount, $52.5 million, if recognized, would reduce the 2013 effective income tax rate. We recognize interest and penalties related to uncertain tax positions in operating expenses. |
2013 | 2012 | ||||||
(in
millions) | |||||||
Deferred income tax assets: | |||||||
Insurance liabilities | $ | 281.6 | $ | 557.7 | |||
Investments,
including derivatives | 455.0 | 523.3 | |||||
Net operating and capital loss carryforwards | 241.9 | 364.0 | |||||
Employee
benefits | 307.3 | 475.8 | |||||
Other deferred income tax assets | 21.5 | 18.2 | |||||
Total
deferred income tax assets | 1,307.3 | 1,939.0 | |||||
Deferred income tax liabilities: | |||||||
Deferred
acquisition costs | (761.5) | (602.5) | |||||
Investments, including derivatives | (375.6) | (562.6) | |||||
Net
unrealized gains on available-for-sale securities | (578.4) | (1,083.0) | |||||
Real estate | (117.2) | (102.0) | |||||
Intangible
assets | (27.3) | (32.8) | |||||
Total deferred income tax liabilities | (1,860.0) | (2,382.9) | |||||
Total
net deferred income tax liabilities | $ | (552.7) | $ | (443.9) |
2013 | 2012 | ||||||
(in millions) | |||||||
Deferred income tax liabilities: | |||||||
U.S. | $ | (550.7) | $ | (443.4) | |||
State | (2.0) | (0.5) | |||||
Total
net deferred income tax liabilities | $ | (552.7) | $ | (443.9) |
Other postretirement | |||||||||||||||
Pension
benefits | benefits | ||||||||||||||
December 31, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||
(in
millions) | |||||||||||||||
Change in benefit obligation | |||||||||||||||
Benefit
obligation at beginning of year | $ | (2,638 | ) | $ | (2,158.4 | ) | $ | (147.8) | $ | (165.1) | |||||
Service
cost | (57.1) | (47.0) | (1.0) | (1.3) | |||||||||||
Interest
cost | (103.8) | (109.1) | (5.7) | (8.2) | |||||||||||
Actuarial
gain (loss) | 279.2 | (407.1) | 7.9 | 21.2 | |||||||||||
Participant
contribution | - | - | (6.8) | (6.6) | |||||||||||
Benefits
paid | 79.5 | 76.4 | 13.6 | 13.0 | |||||||||||
Other | - | 7.2 | (0.8) | (0.8) | |||||||||||
Benefit
obligation at end of year | $ | (2,440.2 | ) | $ | (2,638 | ) | $ | (140.6) | $ | (147.8) | |||||
Change
in plan assets | |||||||||||||||
Fair value of plan assets at beginning of year | $ | 1,682.1 | $ | 1,429.0 | $ | 519.7 | $ | 466.6 | |||||||
Actual
return on plan assets | 199.8 | 222.6 | 95.9 | 58.6 | |||||||||||
Employer
contribution | 123.2 | 106.9 | 4.2 | 0.9 | |||||||||||
Participant
contributions | - | - | 6.8 | 6.6 | |||||||||||
Benefits
paid | (79.5) | (76.4) | (13.6) | (13.0) | |||||||||||
Fair
value of plan assets at end of year | $ | 1,925.6 | $ | 1,682.1 | $ | 613.0 | $ | 519.7 | |||||||
Amount
recognized in statement of financial position | |||||||||||||||
Other
assets | $ | - | $ | - | $ | 473.0 | $ | 372.5 | |||||||
Other
liabilities | (514.6) | (955.9) | (0.6) | (0.6) | |||||||||||
Total | $ | (514.6) | $ | (955.9) | $ | 472.4 | $ | 371.9 | |||||||
Amount
recognized in accumulated other comprehensive | |||||||||||||||
(income)
loss | |||||||||||||||
Total
net actuarial (gain) loss | $ | 391.1 | $ | 861.2 | $ | (83.1) | $ | (7.1) | |||||||
Prior
service benefit | (11.8) | (20.4) | (56.2) | (82.1) | |||||||||||
Pre-tax
accumulated other comprehensive (income) loss | $ | 379.3 | $ | 840.8 | $ | (139.3) | $ | (89.2) |
2013 | 2012 | |||||
(in millions) | ||||||
Projected benefit obligation | $ | 2,440.2 | $ | 2,638.0 | ||
Accumulated
benefit obligation | 2,287.4 | 2,469.1 | ||||
Fair value of plan assets | 1,925.6 | 1,682.1 |
Information
for Other Postretirement Benefit Plans With an Accumulated Postretirement Benefit Obligation | ||||||
in Excess of Plan Assets | ||||||
2013 | 2012 | |||||
(in
millions) | ||||||
Accumulated postretirement benefit obligation | $ | 1.5 | $ | 1.7 | ||
Fair value of plan assets | 0.9 | 1.1 |
Components of Net Periodic Benefit Cost | |||||||||||||||||||
Pension
benefits | Other postretirement benefits | ||||||||||||||||||
For the year ended December 31, | |||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||
(in
millions) | |||||||||||||||||||
Service cost | $ | 57.1 | $ | 47.0 | $ | 44.0 | $ | 1.0 | $ | 1.3 | $ | 1.2 | |||||||
Interest
cost | 103.8 | 109.1 | 108.5 | 5.7 | 8.2 | 8.9 | |||||||||||||
Expected
return on plan assets | (127.4) | (114.6) | (114.4) | (28.8) | (33.5) | (34.1) | |||||||||||||
Amortization
of prior service benefit | (8.7) | (9.4) | (9.7) | (25.9) | (28.6) | (29.3) | |||||||||||||
Recognized
net actuarial loss | 118.5 | 90.9 | 65.8 | 1.0 | 0.9 | 0.4 | |||||||||||||
Amounts
recognized due to special events | - | (0.7) | (1.4) | - | (3.5) | (5.1) | |||||||||||||
Net
periodic benefit cost (income) | $ | 143.3 | $ | 122.3 | $ | 92.8 | $ | (47.0) | $ | (55.2) | $ | (58.0) |
Other
postretirement | ||||||||||||||
Pension benefits | benefits | |||||||||||||
For the year ended December 31, | ||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
(in
millions) | ||||||||||||||
Other changes recognized in accumulated other comprehensive | ||||||||||||||
(income)
loss | ||||||||||||||
Net actuarial (gain) loss | $ | (351.7 | ) | $ | 292.1 | $ | (75.0) | $ | (46.4) | |||||
Amortization
of net loss | (118.5 | ) | (90.9) | (1.0) | (0.9) | |||||||||
Amortization
of prior service benefit | 8.7 | 10.1 | 25.9 | 32.1 | ||||||||||
Total
recognized in pre-tax accumulated other comprehensive (income) loss | $ | (461.5 | ) | $ | 211.3 | $ | (50.1) | $ | (15.2) | |||||
Total
recognized in net periodic benefit cost and pre-tax accumulated | ||||||||||||||
other
comprehensive (income) loss | $ | (318.2 | ) | $ | 333.6 | $ | (97.1) | $ | (70.4) |
Other
postretirement | ||||||||||||
Pension benefits | benefits | |||||||||||
For the year ended December 31, | ||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||
Discount
rate | 4.90 | % | 4.00 | % | 4.90 | % | 4.00 | % | ||||
Rate of compensation increase | 4.80 | % | 4.80 | % | 4.83 | % | 4.83 | % |
Weighted average assumptions used to determine net periodic benefit cost | |||||||||||||||||
Pension
benefits | Other postretirement benefits | ||||||||||||||||
For the year ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||
Discount
rate | 4.00 | % | 5.15 | % | 5.65 | % | 4.00 | % | 5.15 | % | 5.65 | % | |||||
Expected
long-term return on plan assets | 7.50 | % | 8.00 | % | 8.00 | % | 5.62 | % | 7.30 | % | 7.30 | % | |||||
Rate
of compensation increase | 4.80 | % | 5.00 | % | 5.00 | % | 4.83 | % | 5.00 | % | 5.00 | % |
2013 | 2012 | |||||
Health
care cost trend rate assumed for next year under age 65 | 8.0 | % | 8.0 | % | ||
Health care cost trend rate assumed for next year age 65 and over | 6.0 | % | 7.0 | % | ||
Rate to which
the cost trend rate is assumed to decline (the ultimate trend rate) | 4.5 | % | 4.5 | % | ||
Year that the rate reaches the ultimate trend rate (under age 65) | 2020 | 2019 | ||||
Year
that the rate reaches the ultimate trend rate (65 and older) | 2019 | 2017 |
1-percentage | 1-percentage | |||||
point
increase | point decrease | |||||
(in millions) | ||||||
Effect on total of service cost and interest cost components | $ | 0.3 | $ | (0.3) | ||
Effect
on accumulated postretirement benefit obligation | (6.1) | 5.3 |
• | Level
1 - Fair values are based on unadjusted quoted prices in active markets for identical assets. Our Level 1 assets include cash, fixed income investment funds and exchange traded equity securities. |
• | Level 2 - Fair values are based on inputs other than quoted prices within Level 1 that are observable for the asset, either directly or indirectly. Our Level 2 assets primarily include fixed income and equity investment funds and real estate investments. |
• | Level 3 - Fair values are based on significant unobservable inputs for
the asset. Our Level 3 assets include a Principal Life general account investment. |
As
of December 31, 2013 | ||||||||||||||
Assets | Fair value hierarchy level | |||||||||||||
measured at | ||||||||||||||
fair
value | Level 1 | Level 2 | Level 3 | |||||||||||
(in millions) | ||||||||||||||
Asset category | ||||||||||||||
U.S.
large cap equity portfolios (1) | $ | 414.0 | $ | - | $ | 414.0 | $ | - | ||||||
U.S. small/mid cap equity portfolios (2) | 102.9 | - | 102.9 | - | ||||||||||
Balanced
asset portfolios (3) | 96.9 | - | 96.9 | - | ||||||||||
International equity portfolios (4) | 171.0 | - | 171.0 | - | ||||||||||
Fixed
income security portfolios (5) | 1,048.5 | - | 1,048.5 | - | ||||||||||
Real estate investment portfolios: | ||||||||||||||
Direct
real estate investments (6) | 92.3 | - | 92.3 | - | ||||||||||
Total | $ | 1,925.6 | $ | - | $ | 1,925.6 | $ | - | ||||||
As
of December 31, 2012 | ||||||||||||||
Assets | Fair value hierarchy level | |||||||||||||
measured at | ||||||||||||||
fair
value | Level 1 | Level 2 | Level 3 | |||||||||||
(in millions) | ||||||||||||||
Asset category | ||||||||||||||
U.S.
large cap equity portfolios (1) | $ | 601.8 | $ | - | $ | 601.8 | $ | - | ||||||
U.S. small/mid cap equity portfolios (2) | 156.2 | - | 156.2 | - | ||||||||||
Balanced
asset portfolios (3) | 82.4 | 82.4 | ||||||||||||
International equity portfolios (4) | 273.9 | - | 273.9 | - | ||||||||||
Fixed
income security portfolios (5) | 486.6 | - | 486.6 | - | ||||||||||
Real estate investment portfolios: | ||||||||||||||
Direct
real estate investments (6) | 81.2 | - | 81.2 | - | ||||||||||
Total | $ | 1,682.1 | $ | - | $ | 1,682.1 | $ | - |
(1) | The
portfolios invest primarily in publicly traded equity securities of large U.S. companies. |
(2) | The portfolios invest primarily in publicly traded equity securities of mid-sized and small U.S. companies. |
(3) | The portfolios are a combination of underlying fixed income and equity investment options. These investment options may include balanced, asset allocation, target-date and target-risk investment options. Although typically lower risk than investment options that invest solely in equities, all investment options in this
category have the potential to lose value. |
(1) | The portfolios invest primarily in publicly traded equity securities of non-U.S. companies. |
(2) | The
portfolios invest in various fixed income securities, primarily of U.S. origin. These include, but are not limited to, corporate bonds, mortgage-backed securities, commercial mortgage-backed securities, U.S. Treasury securities, agency securities, asset-backed securities and collateralized mortgage obligations. |
(3) | The portfolio invests primarily in U.S. commercial real estate properties. |
For
the year ended December 31, 2011 | |||||||||||||||||||||
Actual return gains (losses) | |||||||||||||||||||||
Beginning | on
plan assets | Ending | |||||||||||||||||||
asset | Relating
to | asset | |||||||||||||||||||
balance | assets
still | Relating to | Net | balance | |||||||||||||||||
as of | held
at the | assets sold | purchases, | Transfers | Transfers | as of | |||||||||||||||
December
31, | reporting | during the | sales and | into | out of | December 31, | |||||||||||||||
(in
millions) | |||||||||||||||||||||
Asset category | |||||||||||||||||||||
Direct
real estate investments | $ | 84.7 | $ | 1.6 | $ | - | $ | 1.0 | $ | - | $ | (87.3) | $ | - |
• | Obtain a reasonable long-term return consistent with the level of risk assumed and at a cost of operation within prudent levels. Performance benchmarks are monitored. |
• | Ensure sufficient liquidity to meet the emerging benefit liabilities for the plan. |
• | Provide
for diversification of assets in an effort to avoid the risk of large losses and maximize the investment return to the pension plan consistent with market and economic risk. |
Asset
Category | Target allocation | |
U.S. equity portfolios | 0% - 45% | |
International equity portfolios | 0% - 15% | |
Fixed income security portfolios | 30% - 100% | |
Real estate investment
portfolios | 0% - 10% |
As
of December 31, 2013 | ||||||||||||||
Assets | Fair value hierarchy level | |||||||||||||
measured at | ||||||||||||||
fair
value | Level 1 | Level 2 | Level 3 | |||||||||||
(in millions) | ||||||||||||||
Asset category | ||||||||||||||
Cash
and cash equivalents | $ | 4.7 | $ | 4.7 | $ | - | $ | - | ||||||
Fixed income security portfolios: | ||||||||||||||
Fixed
income investment funds (1) | 157.9 | 157.9 | - | - | ||||||||||
Principal
Life general account investment (2) | 38.8 | - | - | 38.8 | ||||||||||
U.S. equity portfolios (3) | 351.6 | 288.0 | 63.6 | - | ||||||||||
International
equity portfolios (4) | 60.0 | 45.9 | 14.1 | - | ||||||||||
Total | $ | 613.0 | $ | 496.5 | $ | 77.7 | $ | 38.8 | ||||||
As
of December 31, 2012 | ||||||||||||||
Assets | Fair value hierarchy level | |||||||||||||
measured at | ||||||||||||||
fair
value | Level 1 | Level 2 | Level 3 | |||||||||||
(in millions) | ||||||||||||||
Asset category | ||||||||||||||
Cash
and cash equivalents | $ | 1.9 | $ | 1.9 | $ | - | $ | - | ||||||
Fixed income security portfolios: | ||||||||||||||
Fixed
income investment funds (1) | 163.5 | 163.5 | - | - | ||||||||||
Principal
Life general account investment (2) | 42.1 | - | - | 42.1 | ||||||||||
U.S. equity portfolios (3) | 260.8 | 213.5 | 47.3 | - | ||||||||||
International
equity portfolios (4) | 51.4 | 39.3 | 12.1 | - | ||||||||||
Total | $ | 519.7 | $ | 418.2 | $ | 59.4 | $ | 42.1 |
(1) | The
portfolios invest in various fixed income securities, primarily of U.S. origin. These include, but are not limited to, corporate bonds, mortgage-backed securities, commercial mortgage-backed securities, U.S. Treasury securities, agency securities, asset-backed securities and collateralized mortgage obligations. |
(2) | The general account is invested in various fixed income securities. |
(3) | The portfolios invest primarily in publicly traded equity securities of large U.S. companies. |
(4) | The
portfolios invest primarily in publicly traded equity securities of non-U.S. companies. |
(5) |
For
the year ended December 31, 2013 | |||||||||||||||||||||
Actual return gains (losses) | |||||||||||||||||||||
Beginning | on
plan assets | Ending | |||||||||||||||||||
asset | Relating
to | Net | asset | ||||||||||||||||||
balance | assets
still | Relating to | purchases, | balance | |||||||||||||||||
as
of | held at the | assets sold | sales, | Transfers | Transfers | as of | |||||||||||||||
December
31, | reporting | during the | and | into | out of | ||||||||||||||||
2012 | date | period | settlements | Level
3 | Level 3 | 2013 | |||||||||||||||
(in millions) | |||||||||||||||||||||
Asset category | |||||||||||||||||||||
Principal
Life general account | |||||||||||||||||||||
investment | $ | 42.1 | $ | 1.1 | $ | - | $ | (4.4) | $ | - | $ | - | $ | 38.8 | |||||||
For
the year ended December 31, 2012 | |||||||||||||||||||||
Actual return gains (losses) | |||||||||||||||||||||
Beginning | on
plan assets | Ending | |||||||||||||||||||
assets | Relating
to | Net | assets | ||||||||||||||||||
balance | assets
still | Relating to | purchases, | balance | |||||||||||||||||
as
of | held at the | assets sold | sales, | Transfers | Transfers | as of | |||||||||||||||
December
31, | reporting | during the | and | into | out of | ||||||||||||||||
2011 | date | period | settlements | Level
3 | Level 3 | 2012 | |||||||||||||||
(in millions) | |||||||||||||||||||||
Asset category | |||||||||||||||||||||
Principal
Life general account | |||||||||||||||||||||
investment | $ | 42.5 | $ | 3.1 | $ | - | $ | (3.5) | $ | - | $ | - | $ | 42.1 | |||||||
For
the year ended December 31, 2011 | |||||||||||||||||||||
Actual return gains (losses) | |||||||||||||||||||||
Beginning | on
plan assets | Ending | |||||||||||||||||||
assets | Relating
to | Net | assets | ||||||||||||||||||
balance | assets
still | Relating to | purchases, | balance | |||||||||||||||||
as
of | held at the | assets sold | sales, | Transfers | Transfers | as of | |||||||||||||||
December
31, | reporting | during the | and | into | out of | ||||||||||||||||
2010 | date | period | settlements | Level
3 | Level 3 | 2011 | |||||||||||||||
(in millions) | |||||||||||||||||||||
Asset category | |||||||||||||||||||||
Principal
Life general account | |||||||||||||||||||||
investment | $ | 44.5 | $ | 3.0 | $ | - | $ | (5.0) | $ | - | $ | - | $ | 42.5 |
Asset Category | Target allocation | |
U.S. equity portfolios | 45% - 65% | |
International equity portfolios | 5% - 15% | |
Fixed income security
portfolios | 30% - 50% |
Other
postretirement | |||||||||
benefits (gross benefit | |||||||||
payments,
including | Amount of Medicare | ||||||||
Pension benefits | prescription drug benefits) | Part D subsidy receipts | |||||||
(in
millions) | |||||||||
Year ending December 31: | |||||||||
2014 | $ | 98.7 | $ | 18.1 | $ | 1.0 | |||
2015 | 102.9 | 18.6 | 1.0 | ||||||
2016 | 108.2 | 19.0 | 1.0 | ||||||
2017 | 114.4 | 19.3 | 1.1 | ||||||
2018 | 120.6 | 19.4 | 1.1 | ||||||
2019-2023 | 708.4 | 99.1 | 5.1 |
For
the year ended December 31, | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Qualified | Nonqualified | Qualified | Nonqualified | ||||||||||||||||||
Plan | Plan | Total | Plan | Plan | Total | ||||||||||||||||
(in
millions) | |||||||||||||||||||||
Amount recognized in statement of financial position | |||||||||||||||||||||
Other
assets | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||
Other
liabilities | (138.6) | (376.0) | (514.6) | (557.7 | ) | (398.2) | (955.9) | ||||||||||||||
Total | $ | (138.6) | $ | (376.0) | $ | (514.6) | $ | (557.7 | ) | $ | (398.2) | $ | (955.9) | ||||||||
Amount
recognized in accumulated other | |||||||||||||||||||||
comprehensive
loss | |||||||||||||||||||||
Total
net actuarial loss | $ | 298.3 | $ | 92.8 | $ | 391.1 | $ | 725.0 | $ | 136.2 | $ | 861.2 | |||||||||
Prior
service benefit | (6.5) | (5.3) | (11.8) | (12.5) | (7.9) | (20.4) | |||||||||||||||
Pre-tax
accumulated other comprehensive loss | $ | 291.8 | $ | 87.5 | $ | 379.3 | $ | 712.5 | $ | 128.3 | $ | 840.8 | |||||||||
Components
of net periodic benefit cost | |||||||||||||||||||||
Service
cost | $ | 50.4 | $ | 6.7 | $ | 57.1 | $ | 42.3 | $ | 4.7 | $ | 47.0 | |||||||||
Interest
cost | 88.2 | 15.6 | 103.8 | 92.8 | 16.3 | 109.1 | |||||||||||||||
Expected
return on plan assets | (127.4) | - | (127.4) | (114.6 | ) | - | (114.6 | ) | |||||||||||||
Amortization
of prior service benefit | (6.1) | (2.6) | (8.7) | (6.3) | (3.1) | (9.4) | |||||||||||||||
Recognized
net actuarial loss | 104.4 | 14.1 | 118.5 | 84.8 | 6.1 | 90.9 | |||||||||||||||
Amounts
recognized due to special events | - | - | - | (0.4) | (0.3) | (0.7) | |||||||||||||||
Net
periodic benefit cost | $ | 109.5 | $ | 33.8 | $ | 143.3 | $ | 98.6 | $ | 23.7 | $ | 122.3 | |||||||||
Other
changes recognized in accumulated other | |||||||||||||||||||||
comprehensive
(income) loss | |||||||||||||||||||||
Net
actuarial (gain) loss | $ | (322.4) | $ | (29.3) | $ | (351.7) | $ | 223.5 | $ | 68.6 | $ | 292.1 | |||||||||
Amortization
of net loss | (104.4) | (14.1) | (118.5) | (84.8) | (6.1) | (90.9) | |||||||||||||||
Amortization
of prior service benefit | 6.1 | 2.6 | 8.7 | 6.7 | 3.4 | 10.1 | |||||||||||||||
Total
recognized in pre-tax accumulated other | |||||||||||||||||||||
comprehensive
(income) loss | $ | (420.7) | $ | (40.8) | $ | (461.5) | $ | 145.4 | $ | 65.9 | $ | 211.3 | |||||||||
Total
recognized in net periodic benefit cost and | |||||||||||||||||||||
pre-tax
accumulated other comprehensive (income) loss | $ | (311.2) | $ | (7.0) | $ | (318.2) | $ | 244.0 | $ | 89.6 | $ | 333.6 |
Year
ending December 31: | ||||
2014 | $ | 34.9 | ||
2015 | 31.0 | |||
2016 | 25.6 | |||
2017 | 20.2 | |||
2018 | 10.8 | |||
2019
and thereafter | 51.1 | |||
Total operating lease obligations | 173.6 | |||
Less: Future sublease rental income on noncancelable leases | 7.5 | |||
Total
future minimum lease payments | $ | 166.1 |
Year ending December 31: | ||||
2014 | $ | 7.2 | ||
2015 | 6.1 | |||
2016 | 4.4 | |||
2017 | 1.6 | |||
2018 | 0.1 | |||
Total | 19.4 | |||
Less:
Amounts representing interest | 0.6 | |||
Net present value of minimum lease payments | $ | 18.8 |
14. Stockholder's Equity | ||||||||||
Other
Comprehensive Income (Loss) | ||||||||||
For
the year ended December 31, 2013 | ||||||||||
Pre-Tax | Tax | After-Tax | ||||||||
(in millions) | ||||||||||
Net unrealized losses on available-for-sale securities
during the period | $ | (1,520.2) | $ | 533.0 | $ | (987.2) | ||||
Reclassification adjustment for losses included in net income (1) | 59.6 | (20.8) | 38.8 | |||||||
Adjustments
for assumed changes in amortization patterns | 252.8 | (88.5) | 164.3 | |||||||
Adjustments for assumed changes in policyholder liabilities | 471.8 | (165.4) | 306.4 | |||||||
Net
unrealized losses on available-for-sale securities | (736.0) | 258.3 | (477.7) | |||||||
Noncredit
component of impairment losses on fixed maturities, | ||||||||||
available-for-sale during the period | 22.0 | (7.6) | 14.4 | |||||||
Adjustments
for assumed changes in amortization patterns | (14.4) | 5.1 | (9.3) | |||||||
Noncredit component of impairment losses on fixed maturities, | ||||||||||
available-for-sale
(2) | 7.6 | (2.5) | 5.1 | |||||||
Net
unrealized losses on derivative instruments during the period | (46.3) | 16.2 | (30.1) | |||||||
Reclassification adjustment for losses included in net income (3) | 5.0 | (1.8) | 3.2 | |||||||
Adjustments
for assumed changes in amortization patterns | 10.9 | (3.8) | 7.1 | |||||||
Adjustments for assumed changes in policyholder liabilities | 20.5 | (7.2) | 13.3 | |||||||
Net
unrealized losses on derivative instruments | (9.9) | 3.4 | (6.5) | |||||||
Foreign
currency translation adjustment | 1.6 | (1.6) | - | |||||||
Unrecognized
postretirement benefit obligation during the period | 426.7 | (149.3) | 277.4 | |||||||
Amortization of prior service cost and actuarial loss included in | ||||||||||
net
periodic benefit cost (4) | 84.9 | (29.7) | 55.2 | |||||||
Net unrecognized postretirement benefit obligation | 511.6 | (179.0) | 332.6 | |||||||
Other
comprehensive loss | $ | (225.1) | $ | 78.6 | $ | (146.5) | ||||
For the year ended December 31, 2012 | ||||||||||
Pre-Tax | Tax | After-Tax | ||||||||
(in
millions) | ||||||||||
Net unrealized gains on available-for-sale securities during the period | $ | 1,475.4 | $ | (513.3) | $ | 962.1 | ||||
Reclassification adjustment for losses included in net income (1) | 111.6 | (39.1) | 72.5 | |||||||
Adjustments
for assumed changes in amortization patterns | (169.0) | 59.1 | (109.9) | |||||||
Adjustments for assumed changes in policyholder liabilities | (645.5) | 226.1 | (419.4) | |||||||
Net
unrealized gains on available-for-sale securities | 772.5 | (267.2) | 505.3 | |||||||
Noncredit
component of impairment losses on fixed maturities, | ||||||||||
available-for-sale during the period | (17.3) | 6.1 | (11.2) | |||||||
Adjustments
for assumed changes in amortization patterns | 4.0 | (1.6) | 2.4 | |||||||
Adjustments for assumed changes in policyholder liabilities | 3.2 | (1.1) | 2.1 | |||||||
Noncredit
component of impairment losses on fixed maturities, | ||||||||||
available-for-sale (2) | (10.1) | 3.4 | (6.7) | |||||||
Net
unrealized losses on derivative instruments during the period | (25.9) | 9.2 | (16.7) | |||||||
Reclassification adjustment for gains included in net income (3) | (2.5) | 0.9 | (1.6) | |||||||
Adjustments
for assumed changes in amortization patterns | 25.9 | (9.1) | 16.8 | |||||||
Adjustments for assumed changes in policyholder liabilities | (70.0) | 24.5 | (45.5) | |||||||
Net
unrealized losses on derivative instruments | (72.5) | 25.5 | (47.0) | |||||||
Foreign
currency translation adjustment | (14.8) | 5.7 | (9.1) | |||||||
Unrecognized
postretirement benefit obligation during the period | (245.7) | 86.0 | (159.7) | |||||||
Amortization of prior service cost and actuarial loss included in | ||||||||||
net
periodic benefit cost (4) | 49.6 | (17.3) | 32.3 | |||||||
Net unrecognized postretirement benefit obligation | (196.1) | 68.7 | (127.4) | |||||||
Other
comprehensive income | $ | 479.0 | $ | (163.9) | $ | 315.1 | ||||
For the year ended December 31, 2011 | ||||||||||
Pre-Tax | Tax | After-Tax | ||||||||
(in
millions) | ||||||||||
Net unrealized gains on available-for-sale securities during the period | $ | 612.9 | $ | (213.1) | $ | 399.8 | ||||
Reclassification adjustment for losses included in net income (1) | 104.4 | (41.5) | 62.9 | |||||||
Adjustments
for assumed changes in amortization patterns | (114.9) | 40.2 | (74.7) | |||||||
Adjustments for assumed changes in policyholder liabilities | (278.0) | 97.3 | (180.7) | |||||||
Net
unrealized gains on available-for-sale securities | 324.4 | (117.1) | 207.3 | |||||||
Noncredit
component of impairment losses on fixed maturities, | ||||||||||
available-for-sale during the period | 52.3 | (18.4) | 33.9 | |||||||
Adjustments
for assumed changes in amortization patterns | (1.4) | 0.5 | (0.9) | |||||||
Noncredit component of impairment losses on fixed maturities, | ||||||||||
available-for-sale
(2) | 50.9 | (17.9) | 33.0 | |||||||
Net
unrealized gains on derivative instruments during the period | 39.6 | (13.9) | 25.7 | |||||||
Reclassification adjustment for losses included in net income (3) | 15.4 | (5.4) | 10.0 | |||||||
Adjustments
for assumed changes in amortization patterns | (23.9) | 8.4 | (15.5) | |||||||
Net unrealized gains on derivative instruments | 31.1 | (10.9) | 20.2 | |||||||
Foreign
currency translation adjustment | 20.2 | (7.2) | 13.0 | |||||||
Unrecognized
postretirement benefit obligation during the period | (286.7) | 100.3 | (186.4) | |||||||
Amortization of prior service cost and actuarial loss included in | ||||||||||
net
periodic benefit cost (4) | 20.7 | (7.2) | 13.5 | |||||||
Net unrecognized postretirement benefit obligation | (266.0) | 93.1 | (172.9) | |||||||
Other
comprehensive income | $ | 160.6 | $ | (60.0) | $ | 100.6 |
(1) | Pre-tax reclassification adjustments relating to available-for-sale securities are reported in net realized capital gains
(losses) on the consolidated statements of operations. |
Accumulated
Other Comprehensive Income | |||||||||||||||||||
Noncredit | |||||||||||||||||||
Net
unrealized | component of | Net unrealized | Foreign | Unrecognized | Accumulated | ||||||||||||||
gains
on | impairment losses | gains on | currency | postretirement | other | ||||||||||||||
available-for-sale | on
fixed maturities | derivative | translation | benefit | comprehensive | ||||||||||||||
securities | available-for-sale | instruments | adjustment | obligation | income | ||||||||||||||
(in
millions) | |||||||||||||||||||
Balances at January 1, 2011 | $ | 561.4 | $ | (198.2) | $ | 53.9 | $ | (0.9) | $ | (188.2) | $ | 228.0 | |||||||
Other
comprehensive loss | |||||||||||||||||||
during
the period, net of | |||||||||||||||||||
adjustments | 144.4 | - | 10.2 | 13.0 | (186.4) | (18.8) | |||||||||||||
Amounts
reclassified to AOCI | 62.9 | 33.0 | 10.0 | - | 13.5 | 119.4 | |||||||||||||
Other
comprehensive income | 207.3 | 33.0 | 20.2 | 13.0 | (172.9) | 100.6 | |||||||||||||
Balances
at December 31, 2011 | 768.7 | (165.2) | 74.1 | 12.1 | (361.1) | 328.6 | |||||||||||||
Other
comprehensive income | |||||||||||||||||||
during
the period, net of | |||||||||||||||||||
adjustments | 432.8 | (6.7) | (45.4) | (10.2) | (159.7) | 210.8 | |||||||||||||
Amounts
reclassified to AOCI | 72.5 | - | (1.6) | - | 32.3 | 103.2 | |||||||||||||
Other
comprehensive income | 505.3 | (6.7) | (47.0) | (10.2) | (127.4) | 314.0 | |||||||||||||
Balances
at December 31, 2012 | 1,274.0 | (171.9) | 27.1 | 1.9 | (488.5) | 642.6 | |||||||||||||
Other
comprehensive loss | |||||||||||||||||||
during
the period, net of | |||||||||||||||||||
adjustments | (516.5) | - | (9.7) | (0.4) | 277.4 | (249.2) | |||||||||||||
Amounts
reclassified to AOCI | 38.8 | 5.1 | 3.2 | - | 55.2 | 102.3 | |||||||||||||
Other
comprehensive loss | (477.7) | 5.1 | (6.5) | (0.4) | 332.6 | (146.9) | |||||||||||||
Balances
at December 31, 2013 | $ | 796.3 | $ | (166.8) | $ | 20.6 | $ | 1.5 | $ | (155.9) | $ | 495.7 |
Balance at January 1, 2011 | $ | - |
Net income attributable to redeemable noncontrolling interest | 0.2 | |
Redeemable
noncontrolling interest assumed related to acquisition | 22.0 | |
Balance at December 31, 2011 | $ | 22.2 |
Net income attributable to redeemable noncontrolling interest | 1.0 | |
Distributions to redeemable noncontrolling interest | (1.1) | |
Foreign
currency translation adjustment | 1.1 | |
Balance at December 31, 2012 | $ | 23.2 |
Net income attributable to redeemable noncontrolling interest | 13.6 | |
Reclassification from stockholder's equity (1) | 166.7 | |
Distributions
to redeemable noncontrolling interest | (13.0) | |
Change in redemption value of redeemable noncontrolling interest | 17.8 | |
Foreign currency translation adjustment | 0.4 | |
Balance at December 31, 2013 | $ | 208.7 |
(1) | During
the third quarter of 2013, we identified a classification error of certain of our noncontrolling interests. The classification error had no impact on net income. We evaluated the classification error based on qualitative and quantitative factors in accordance with SEC Staff Accounting Bulletins 99 and 108 and concluded the impact was not material in the current or any prior quarterly or annual periods presented. During the third quarter of 2013, we recorded a $166.7 million increase to redeemable noncontrolling interest and a corresponding decrease to stockholder’s equity. |
• | Level 1 - Fair values are based on unadjusted quoted prices in active markets for identical assets or liabilities. Our Level 1 assets and liabilities primarily include exchange traded
equity securities, mutual funds and U.S. Treasury bonds. |
• | Level 2 - Fair values are based on inputs other than quoted prices within Level 1 that are observable for the asset or liability, either directly or indirectly. Our Level 2 assets and liabilities primarily include fixed maturities (including public and private bonds), equity securities, derivatives and other investments for which public quotations are not available but that are priced by third-party pricing services or internal models using substantially all observable inputs. |
• | Level
3 - Fair values are based on significant unobservable inputs for the asset or liability. Our Level 3 assets and liabilities include certain assets and liabilities priced using broker quotes or other valuation methods that utilize at least one significant unobservable input. These include fixed maturities, private equity securities, real estate and commercial mortgage loan investments of our separate accounts, commercial mortgage loan investments and obligations of consolidated VIEs for which the fair value option was elected, complex derivatives, embedded derivatives and an equity method real estate investment for which the fair value option was elected. |
As
of December 31, 2013 | |||||||||||||
Assets/ | |||||||||||||
(liabilities) | Fair
value hierarchy level | ||||||||||||
measured at | |||||||||||||
fair
value | Level 1 | Level 2 | Level 3 | ||||||||||
(in millions) | |||||||||||||
Assets | |||||||||||||
Fixed
maturities, available-for-sale: | |||||||||||||
U.S. government and agencies | $ | 769.7 | $ | 398.6 | $ | 371.1 | $ | - | |||||
Non-U.S.
governments | 523.6 | - | 511.9 | 11.7 | |||||||||
States and political subdivisions | 3,632.4 | - | 3,630.6 | 1.8 | |||||||||
Corporate | 29,217.2 | 40.3 | 29,062.1 | 114.8 | |||||||||
Residential
mortgage-backed securities | 2,823.6 | - | 2,823.6 | - | |||||||||
Commercial mortgage-backed securities | 4,026.4 | - | 4,024.8 | 1.6 | |||||||||
Collateralized
debt obligations | 363.4 | - | 325.6 | 37.8 | |||||||||
Other debt obligations | 4,167.8 | - | 4,083.7 | 84.1 | |||||||||
Total
fixed maturities, available-for-sale | 45,524.1 | 438.9 | 44,833.4 | 251.8 | |||||||||
Fixed maturities, trading | 358.5 | - | 188.6 | 169.9 | |||||||||
Equity
securities, available-for-sale | 102.6 | 34.6 | 51.1 | 16.9 | |||||||||
Equity securities, trading | 169.7 | 8.7 | 161.0 | - | |||||||||
Derivative
assets (1) | 651.1 | - | 576.9 | 74.2 | |||||||||
Other investments (2) | 279.3 | - | 136.4 | 142.9 | |||||||||
Cash
equivalents (3) | 1,160.5 | - | 1,160.5 | - | |||||||||
Sub-total excluding separate account assets | 48,245.8 | 482.2 | 47,107.9 | 655.7 | |||||||||
Separate
account assets | 83,790.3 | 65,599.5 | 13,092.9 | 5,097.9 | |||||||||
Total assets | $ | 132,036.1 | $ | 66,081.7 | $ | 60,200.8 | $ | 5,753.6 | |||||
Liabilities | |||||||||||||
Investment-type
insurance contracts (4) | $ | 9.5 | $ | - | $ | - | $ | 9.5 | |||||
Derivative liabilities (1) | (1,017.3) | - | (977.7) | (39.6) | |||||||||
Other
liabilities (4) | (322.1) | - | (248.2) | (73.9) | |||||||||
Total liabilities | $ | (1,329.9) | $ | - | $ | (1,225.9) | $ | (104.0) | |||||
Net
assets (liabilities) | $ | 130,706.2 | $ | 66,081.7 | $ | 58,974.9 | $ | 5,649.6 |
As of December
31, 2012 | |||||||||||||
Assets/ | |||||||||||||
(liabilities) | Fair
value hierarchy level | ||||||||||||
measured at | |||||||||||||
fair
value | Level 1 | Level 2 | Level 3 | ||||||||||
(in millions) | |||||||||||||
Assets | |||||||||||||
Fixed
maturities, available-for-sale: | |||||||||||||
U.S. government and agencies | $ | 882.2 | $ | 146.2 | $ | 736.0 | $ | - | |||||
Non-U.S.
governments | 663.4 | - | 650.5 | 12.9 | |||||||||
States and political subdivisions | 3,178.8 | - | 3,176.9 | 1.9 | |||||||||
Corporate | 31,416.4 | 85.9 | 31,212.7 | 117.8 | |||||||||
Residential
mortgage-backed securities | 3,199.7 | - | 3,199.7 | - | |||||||||
Commercial mortgage-backed securities | 3,897.4 | - | 3,897.4 | - | |||||||||
Collateralized
debt obligations | 379.2 | - | 301.6 | 77.6 | |||||||||
Other debt obligations | 3,779.2 | - | 3,764.5 | 14.7 | |||||||||
Total
fixed maturities, available-for-sale | 47,396.3 | 232.1 | 46,939.3 | 224.9 | |||||||||
Fixed maturities, trading | 398.4 | - | 231.6 | 166.8 | |||||||||
Equity
securities, available-for-sale | 131.3 | 52.9 | 63.1 | 15.3 | |||||||||
Equity securities, trading | 131.9 | 6.5 | 125.4 | - | |||||||||
Derivative
assets (1) | 991.0 | - | 917.7 | 73.3 | |||||||||
Other investments (2) | 227.1 | 29.4 | 83.8 | 113.9 | |||||||||
Cash
equivalents (3) | 1,394.9 | 304.9 | 1,090.0 | - | |||||||||
Sub-total excluding separate account assets | 50,670.9 | 625.8 | 49,450.9 | 594.2 | |||||||||
Separate
account assets | 69,217.8 | 52,629.3 | 12,137.8 | 4,450.7 | |||||||||
Total assets | $ | 119,888.7 | $ | 53,255.1 | $ | 61,588.7 | $ | 5,044.9 | |||||
Liabilities | |||||||||||||
Investment-type
insurance contracts (4) | $ | (148.1) | $ | - | $ | - | $ | (148.1) | |||||
Derivative liabilities (1) | (1,200.2) | - | (1,098.5) | (101.7) | |||||||||
Other
liabilities (4) | (237.4) | - | (197.8) | (39.6) | |||||||||
Total liabilities | $ | (1,585.7) | $ | - | $ | (1,296.3) | $ | (289.4) | |||||
Net
assets (liabilities) | $ | 118,303.0 | $ | 53,255.1 | $ | 60,292.4 | $ | 4,755.5 |
For
the year ended December 31, 2013 | ||||||||||||||||||||||||||||
Total realized/unrealized | ||||||||||||||||||||||||||||
gains
(losses) | Changes in | |||||||||||||||||||||||||||
Beginning | Net | Ending | unrealized | |||||||||||||||||||||||||
asset/ | purchases, | asset/ | gains
(losses) | |||||||||||||||||||||||||
(liability) | sales, | (liability) | included
in | |||||||||||||||||||||||||
balance | Included | Included in | issuances | balance | net
income | |||||||||||||||||||||||
as of | in net | other | and | Transfers | Transfers | as
of | relating to | |||||||||||||||||||||
December 31, | income | comprehensive | settlements | into | out
of | December 31, | positions still | |||||||||||||||||||||
2012 | (1) | income | (4) | Level
3 | Level 3 | 2013 | held (1) | |||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||
Fixed
maturities, | ||||||||||||||||||||||||||||
available-for-sale: | ||||||||||||||||||||||||||||
Non-U.S. | ||||||||||||||||||||||||||||
governments | $ | 12.9 | $ | - | $ | - | $ | (1.2) | $ | - | $ | - | $ | 11.7 | $ | - | ||||||||||||
States
and political | ||||||||||||||||||||||||||||
subdivisions | 1.9 | - | - | (0.1) | - | - | 1.8 | - | ||||||||||||||||||||
Corporate | 117.8 | (11.4) | 2.2 | (15.2) | 105.3 | (83.9) | 114.8 | (8.6) | ||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||
mortgage-backed | ||||||||||||||||||||||||||||
securities | - | - | (0.1) | (0.7) | 2.4 | - | 1.6 | - | ||||||||||||||||||||
Collateralized | ||||||||||||||||||||||||||||
debt
obligations | 77.6 | 2.1 | 7.2 | (56.0) | 31.7 | (24.8) | 37.8 | - | ||||||||||||||||||||
Other
debt | ||||||||||||||||||||||||||||
obligations | 14.7 | (0.3) | 2.8 | 34.9 | 32.0 | - | 84.1 | (0.3) | ||||||||||||||||||||
Total
fixed | ||||||||||||||||||||||||||||
maturities, | ||||||||||||||||||||||||||||
available-for-sale | 224.9 | (9.6) | 12.1 | (38.3) | 171.4 | (108.7 | ) | 251.8 | (8.9) | |||||||||||||||||||
Fixed
maturities, | ||||||||||||||||||||||||||||
trading | 166.8 | 3.0 | - | 0.1 | - | - | 169.9 | 3.1 | ||||||||||||||||||||
Equity
securities, | ||||||||||||||||||||||||||||
available-for-sale | 15.3 | (0.2) | 1.8 | - | - | - | 16.9 | (0.2) | ||||||||||||||||||||
Derivative
assets | 73.3 | (20.7) | - | 21.6 | - | - | 74.2 | (19.8) | ||||||||||||||||||||
Other
investments | 113.9 | 11.2 | - | 17.8 | - | - | 142.9 | 11.2 | ||||||||||||||||||||
Separate
account | ||||||||||||||||||||||||||||
assets
(2) | 4,450.7 | 585.2 | - | 55.8 | 12.7 | (6.5) | 5,097.9 | 556.1 | ||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||
Investments-type | ||||||||||||||||||||||||||||
insurance | ||||||||||||||||||||||||||||
contracts | (148.1) | 143.4 | - | 14.2 | - | - | 9.5 | 141.1 | ||||||||||||||||||||
Derivative
liabilities | (101.7) | 54.4 | (0.1) | 7.8 | - | - | (39.6) | 53.9 | ||||||||||||||||||||
Other
liabilities (3) | (39.6) | (34.3) | - | - | - | - | (73.9) | (34.3) |
For
the year ended December 31, 2012 | ||||||||||||||||||||||||||||
Total realized/unrealized | ||||||||||||||||||||||||||||
gains
(losses) | Changes in | |||||||||||||||||||||||||||
Beginning | Net | Ending | unrealized | |||||||||||||||||||||||||
asset/ | purchases, | asset/ | gains
(losses) | |||||||||||||||||||||||||
(liability) | sales, | (liability) | included
in | |||||||||||||||||||||||||
balance | Included | Included in | issuances | balance | net
income | |||||||||||||||||||||||
as of | in net | other | and | Transfers | Transfers | as
of | relating to | |||||||||||||||||||||
December 31, | income | comprehensive | settlements | into | out
of | December 31, | positions still | |||||||||||||||||||||
2011 | (1) | income | (4) | Level
3 | Level 3 | 2012 | held (1) | |||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||
Fixed
maturities, | ||||||||||||||||||||||||||||
available-for-sale: | ||||||||||||||||||||||||||||
Non-U.S. | ||||||||||||||||||||||||||||
governments | $ | - | $ | - | $ | (0.5) | $ | (1.1) | $ | 14.5 | $ | - | $ | 12.9 | $ | - | ||||||||||||
States
and political | ||||||||||||||||||||||||||||
subdivisions | - | - | 0.2 | (0.1) | 1.8 | - | 1.9 | - | ||||||||||||||||||||
Corporate | 239.2 | (8.8) | 22.7 | (77.6) | 79.7 | (137.4 | ) | 117.8 | (2.2) | |||||||||||||||||||
Collateralized | ||||||||||||||||||||||||||||
debt
obligations | 102.5 | (3.3) | 5.1 | 4.5 | - | (31.2) | 77.6 | - | ||||||||||||||||||||
Other
debt | ||||||||||||||||||||||||||||
obligations | 27.3 | (2.2) | 0.5 | (26.2) | 15.3 | - | 14.7 | (2.2) | ||||||||||||||||||||
Total
fixed | ||||||||||||||||||||||||||||
maturities, | ||||||||||||||||||||||||||||
available-for-sale | 369.0 | (14.3) | 28.0 | (100.5) | 111.3 | (168.6 | ) | 224.9 | (4.4) | |||||||||||||||||||
Fixed
maturities, | ||||||||||||||||||||||||||||
trading | 220.8 | 3.2 | - | (66.7) | 9.5 | - | 166.8 | (4.4) | ||||||||||||||||||||
Equity
securities, | ||||||||||||||||||||||||||||
available-for-sale | 18.0 | (0.3) | (2.4) | - | - | - | 15.3 | - | ||||||||||||||||||||
Derivative
assets | 59.0 | 10.8 | - | 3.5 | - | - | 73.3 | 12.0 | ||||||||||||||||||||
Other
investments | 97.5 | 2.1 | - | 14.3 | - | - | 113.9 | 2.2 | ||||||||||||||||||||
Separate
account | ||||||||||||||||||||||||||||
assets
(2) | 4,049.0 | 423.2 | - | (21.2) | 1.6 | (1.9) | 4,450.7 | 414.6 | ||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||
Investments-type | ||||||||||||||||||||||||||||
insurance | ||||||||||||||||||||||||||||
contracts | (171.8) | 37.4 | - | (13.7) | - | - | (148.1) | 34.5 | ||||||||||||||||||||
Derivative
liabilities | (177.1) | 36.0 | 1.3 | 38.1 | - | - | (101.7) | 34.4 | ||||||||||||||||||||
Other
liabilities (3) | (24.2) | (23.5) | - | 8.1 | - | - | (39.6) | (20.2) |
For
the year ended December 31, 2011 | |||||||||||||||||||||||||||
Total realized/unrealized | |||||||||||||||||||||||||||
gains
(losses) | Changes in | ||||||||||||||||||||||||||
Beginning | Net | Ending | unrealized | ||||||||||||||||||||||||
asset/ | purchases, | asset/ | gains
(losses) | ||||||||||||||||||||||||
(liability) | sales, | (liability) | included
in | ||||||||||||||||||||||||
balance | Included | Included in | issuances | balance | net
income | ||||||||||||||||||||||
as of | in net | other | and | Transfers | Transfers | as
of | relating to | ||||||||||||||||||||
December 31, | income | comprehensive | settlements | into | out
of | December 31, | positions still | ||||||||||||||||||||
2010 | (1) | income | (4) | Level
3 | Level 3 | 2011 | held (1) | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||
Fixed
maturities, | |||||||||||||||||||||||||||
available-for-sale: | |||||||||||||||||||||||||||
Corporate | $ | 513.9 | $ | (4.4) | $ | (17.7) | $ | (55.0) | $ | 86.4 | $ | (284.0) | $ | 239.2 | $ | 0.3 | |||||||||||
Commercial | |||||||||||||||||||||||||||
mortgage-backed | |||||||||||||||||||||||||||
securities | 16.2 | (3.7) | 5.1 | (10.5) | - | (7.1) | - | - | |||||||||||||||||||
Collateralized | |||||||||||||||||||||||||||
debt
obligations | 109.3 | (19.6) | 13.8 | 0.3 | - | (1.3) | 102.5 | (9.3) | |||||||||||||||||||
Other
debt | |||||||||||||||||||||||||||
obligations | 88.8 | 0.1 | (1.1) | (30.5) | 9.0 | (39.0) | 27.3 | - | |||||||||||||||||||
Total
fixed | |||||||||||||||||||||||||||
maturities, | |||||||||||||||||||||||||||
available-for-sale | 728.2 | (27.6) | 0.1 | (95.7) | 95.4 | (331.4) | 369.0 | (9.0) | |||||||||||||||||||
Fixed
maturities, | |||||||||||||||||||||||||||
trading | 269.1 | (16.6) | - | (27.2) | 20.5 | (25.0) | 220.8 | (15.8) | |||||||||||||||||||
Equity
securities, | |||||||||||||||||||||||||||
available-for-sale | 43.2 | (6.1) | 12.0 | (28.0) | 13.0 | (16.1) | 18.0 | (4.5) | |||||||||||||||||||
Derivative
assets | 33.3 | 37.8 | (0.1) | (12.0) | - | - | 59.0 | 34.8 | |||||||||||||||||||
Other
investments | 128.3 | (2.5) | - | (28.3) | - | - | 97.5 | (2.6) | |||||||||||||||||||
Separate
account | |||||||||||||||||||||||||||
assets
(2) | 3,638.1 | 407.3 | - | 72.4 | 13.5 | (82.3) | 4,049.0 | 401.7 | |||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||
Investments-type | |||||||||||||||||||||||||||
insurance | |||||||||||||||||||||||||||
contracts | 7.4 | (190.4) | - | 11.2 | - | - | (171.8) | (190.9) | |||||||||||||||||||
Derivative
liabilities | (181.5) | (14.2) | 0.2 | 18.4 | - | - | (177.1) | (8.4) | |||||||||||||||||||
Other
liabilities (3) | (156.8) | (1.2) | 13.4 | (15.9) | - | 136.3 | (24.2) | (1.1) |
For
the year ended December 31, 2013 | ||||||||||||||||||
Net
purchases, | ||||||||||||||||||
sales,
issuances | ||||||||||||||||||
Purchases | Sales | Issuances | Settlements | and
settlements | ||||||||||||||
(in millions) | ||||||||||||||||||
Assets | ||||||||||||||||||
Fixed
maturities, available-for-sale: | ||||||||||||||||||
Non-U.S.
governments | $ | - | $ | - | $ | - | $ | (1.2) | $ | (1.2) | ||||||||
State
and political subdivisions | - | - | - | (0.1) | (0.1) | |||||||||||||
Corporate | 18.0 | (17.0) | - | (16.2) | (15.2) | |||||||||||||
Commercial
mortgage-backed securities | - | - | - | (0.7) | (0.7) | |||||||||||||
Collateralized
debt obligations | 17.0 | (47.4) | - | (25.6) | (56.0) | |||||||||||||
Other
debt obligations | 37.8 | - | - | (2.9) | 34.9 | |||||||||||||
Total
fixed maturities, available-for-sale | 72.8 | (64.4) | - | (46.7) | (38.3) | |||||||||||||
Fixed
maturities, trading | - | - | - | 0.1 | 0.1 | |||||||||||||
Derivative
assets | 22.1 | (0.5) | - | - | 21.6 | |||||||||||||
Other
investments | 30.2 | - | - | (12.4) | 17.8 | |||||||||||||
Separate
account assets (5) | 276.0 | (170.8) | (21.8) | (27.6) | 55.8 | |||||||||||||
Liabilities | ||||||||||||||||||
Investment-type
insurance contracts | - | - | 10.9 | 3.3 | 14.2 | |||||||||||||
Derivative
liabilities | (3.4) | 11.2 | - | - | 7.8 |
For
the year ended December 31, 2012 | ||||||||||||||||||
Net
purchases, | ||||||||||||||||||
sales,
issuances | ||||||||||||||||||
Purchases | Sales | Issuances | Settlements | and
settlements | ||||||||||||||
(in millions) | ||||||||||||||||||
Assets | ||||||||||||||||||
Fixed
maturities, available-for-sale: | ||||||||||||||||||
Non-U.S.
governments | $ | - | $ | - | $ | - | $ | (1.1) | $ | (1.1) | ||||||||
State
and political subdivisions | - | - | - | (0.1) | (0.1) | |||||||||||||
Corporate | 0.3 | (65.2) | - | (12.7) | (77.6) | |||||||||||||
Collateralized
debt obligations | 5.1 | (1.1) | - | 0.5 | 4.5 | |||||||||||||
Other
debt obligations | - | - | - | (26.2) | (26.2) | |||||||||||||
Total
fixed maturities, available-for-sale | 5.4 | (66.3) | - | (39.6) | (100.5) | |||||||||||||
Fixed
maturities, trading | - | (24.6) | - | (42.1) | (66.7) | |||||||||||||
Derivative
assets | 3.7 | (0.2) | - | - | 3.5 | |||||||||||||
Other
investments | 34.0 | - | - | (19.7) | 14.3 | |||||||||||||
Separate
account assets (5) | 134.8 | (120.8) | (208.4) | 173.2 | (21.2) | |||||||||||||
Liabilities | ||||||||||||||||||
Investment-type
insurance contracts | - | - | (16.6) | 2.9 | (13.7) | |||||||||||||
Derivative
liabilities | (3.9) | 42.0 | - | - | 38.1 | |||||||||||||
Other
liabilities | - | 8.1 | - | - | 8.1 |
For
the year ended December 31, 2011 | ||||||||||||||||||
Net
purchases, | ||||||||||||||||||
sales,
issuances | ||||||||||||||||||
Purchases | Sales | Issuances | Settlements | and
settlements | ||||||||||||||
(in millions) | ||||||||||||||||||
Assets | ||||||||||||||||||
Fixed
maturities, available-for-sale: | ||||||||||||||||||
Corporate | $ | 7.3 | $ | (24.0) | $ | - | $ | (38.3) | $ | (55.0) | ||||||||
Commercial
mortgage-backed securities | - | (10.5) | - | - | (10.5) | |||||||||||||
Collateralized
debt obligations | 1.3 | (0.4) | - | (0.6) | 0.3 | |||||||||||||
Other
debt obligations | - | - | - | (30.5) | (30.5) | |||||||||||||
Total
fixed maturities, available-for-sale | 8.6 | (34.9) | - | (69.4) | (95.7) | |||||||||||||
Fixed
maturities, trading | 10.0 | (8.7) | - | (28.5) | (27.2) | |||||||||||||
Equity
securities, available-for-sale | 0.3 | (28.3) | - | - | (28.0) | |||||||||||||
Derivative
assets | 4.8 | (16.8) | - | - | (12.0) | |||||||||||||
Other
investments | - | - | - | (28.3) | (28.3) | |||||||||||||
Separate
account assets (5) | 182.2 | (47.8) | - | (62.0) | 72.4 | |||||||||||||
Liabilities | ||||||||||||||||||
Investment-type
insurance contracts | - | - | 9.2 | 2.0 | 11.2 | |||||||||||||
Derivative
liabilities | (10.0) | 28.4 | - | - | 18.4 | |||||||||||||
Other
liabilities | (2.1) | - | - | (13.8) | (15.9) |
(5) | Issuances
and settlements include amounts related to mortgage encumbrances associated with real estate in our separate accounts. |
For
the year ended December 31, 2013 | |||||||||||||||||||||
Transfers out | Transfers out | Transfers out | Transfers out | Transfers
out | Transfers out | ||||||||||||||||
of Level 1 into | of Level 1 into | of Level 2 into | of
Level 2 into | of Level 3 into | of Level 3 into | ||||||||||||||||
Level 2 | Level 3 | Level
1 | Level 3 | Level 1 | Level 2 | ||||||||||||||||
(in millions) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Fixed
maturities, available-for- | |||||||||||||||||||||
sale: | |||||||||||||||||||||
Corporate | $ | - | $ | - | $ | - | $ | 105.3 | $ | - | $ | 83.9 | |||||||||
Commercial
mortgage-backed | |||||||||||||||||||||
securities | - | - | - | 2.4 | - | - | |||||||||||||||
Collateralized
debt obligations | - | - | - | 31.7 | - | 24.8 | |||||||||||||||
Other
debt obligations | - | - | - | 32.0 | - | - | |||||||||||||||
Total
fixed maturities, | |||||||||||||||||||||
available-for-sale | - | - | - | 171.4 | - | 108.7 | |||||||||||||||
Separate
account assets | 253.9 | 0.1 | 15.5 | 12.6 | - | 6.5 | |||||||||||||||
For
the year ended December 31, 2012 | |||||||||||||||||||||
Transfers out | Transfers out | Transfers out | Transfers out | Transfers
out | Transfers out | ||||||||||||||||
of Level 1 into | of Level 1 into | of Level 2 into | of
Level 2 into | of Level 3 into | of Level 3 into | ||||||||||||||||
Level 2 | Level 3 | Level
1 | Level 3 | Level 1 | Level 2 | ||||||||||||||||
(in millions) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Fixed
maturities, available-for- | |||||||||||||||||||||
sale: | |||||||||||||||||||||
Non-U.S.
governments | $ | - | $ | - | $ | - | $ | 14.5 | $ | - | $ | - | |||||||||
States
and political subdivisions | - | - | - | 1.8 | - | - | |||||||||||||||
Corporate | - | - | - | 79.7 | - | 137.4 | |||||||||||||||
Collateralized
debt obligations | - | - | - | - | - | 31.2 | |||||||||||||||
Other
debt obligations | - | - | - | 15.3 | - | - | |||||||||||||||
Total
fixed maturities, | |||||||||||||||||||||
available-for-sale | - | - | - | 111.3 | - | 168.6 | |||||||||||||||
Fixed
maturities, trading | - | - | - | 9.5 | - | - | |||||||||||||||
Separate
account assets | 3,255.7 | 0.3 | 205.5 | 1.3 | - | 1.9 |
As
of December 31, 2013 | ||||||||||||||
Assets / | ||||||||||||||
(liabilities) | ||||||||||||||
measured
at | Valuation | Unobservable | Input/range | Weighted | ||||||||||
fair
value | technique(s) | input description | of inputs | average | ||||||||||
(in
millions) | ||||||||||||||
Assets | ||||||||||||||
Fixed
maturities, available-for-sale: | ||||||||||||||
Non-U.S. governments | $ | 11.7 | Discounted
cash flow | Discount rate (1) | 2.0% | 2.0% | ||||||||
Illiquidity
premium | 50 basis points ("bps") | 50bps | ||||||||||||
Corporate | 70.1 | Discounted cash flow | Discount rate (1) | 1.9%-7.7%
| 4.4% | |||||||||
Earnings before interest, taxes, depreciation and amortization multiple | 0x-4.5x | 0.2x | ||||||||||||
Comparability
adjustment | 0bps-125bps | 43bps | ||||||||||||
Probability
of default | 0%-100% | 5.4% | ||||||||||||
Potential
loss severity | 0%-16% | 0.9% | ||||||||||||
Illiquidity
premium | 0-25 bps | 15bps | ||||||||||||
Commercial mortgage-backed securities | 1.6 | Discounted cash flow | Discount
rate (1) | 1.5%-4.5% | 0.0% | |||||||||
Collateralized debt obligations | 13.6 | Discounted cash flow | Discount rate (1) | 1.5% | 1.5% | |||||||||
Illiquidity
premium | 400bps | 400bps | ||||||||||||
Other debt obligations | 33.6 | Discounted cash flow | Discount rate (1) | 2.0%-15.0% | 6.7% | |||||||||
Illiquidity
premium | 0bps-50bps | 11bps | ||||||||||||
Fixed maturities, trading | 36.3 | Discounted cash flow | Discount rate (1) | 1.6%-83.0% | 3.4% | |||||||||
Illiquidity
premium | 0bps- 1,400bps | 370bps | ||||||||||||
110.4 | See note (2) |
As
of December 31, 2013 | ||||||||||||||
Assets / | ||||||||||||||
(liabilities) | ||||||||||||||
measured
at | Valuation | Unobservable | Input/range | Weighted | ||||||||||
fair
value | technique(s) | input description | of inputs | average | ||||||||||
(in
millions) | ||||||||||||||
Other investments | 68.1 | Discounted cash flow
- commercial mortgage loans of consolidated VIEs | Discount rate (1) | 4.8% | 4.8% | |||||||||
Illiquidity
premium | 94bps | 94bps | ||||||||||||
74.8 | Discounted cash flow - equity method
real estate investment | Discount rate (1) | 7.8%-8.1% | 7.9% | ||||||||||
Terminal
capitalization rate | 5.5%-6.8% | 6.1% | ||||||||||||
Average market rent growth rate | 3.5%-3.6% | 3.6% | ||||||||||||
Discounted
cash flow - equity method real estate debt | Loan to value | 40.5%-61.0% | 50.7% | |||||||||||
Credit
spread rate | 1.5%-2.0% | 1.8% | ||||||||||||
Separate account assets | 5,090.4 | Discounted cash flow - mortgage loans | Discount rate (1) | 0.6%-5.6% | 3.3% | |||||||||
Illiquidity
premium | 0bps-60bps | 12bps | ||||||||||||
Credit spread rate | 32bps-440bps | 214bps | ||||||||||||
Discounted
cash flow - real estate | Discount rate (1) | 6.0%-16.0% | 7.6% | |||||||||||
Terminal
capitalization rate | 4.5%-9.0% | 6.6% | ||||||||||||
Average market rent growth rate | 2.4%-4.7% | 3.0% | ||||||||||||
Discounted
cash flow - real estate debt | Loan to value | 11.0%55.9% | 50.3% | |||||||||||
Credit
spread rate | 1.5%-5.2% | 3.3% | ||||||||||||
As
of December 31, 2013 | ||||||||||||||
Assets / | ||||||||||||||
(liabilities) | ||||||||||||||
measured
at | Valuation | Unobservable | Input/range | Weighted | ||||||||||
fair
value | technique(s) | input description | of inputs | average | ||||||||||
(in
millions) | ||||||||||||||
Liabilities | ||||||||||||||
Investment-type
insurance contracts | 9.5 | Discounted cash flow | Long duration interest rate | 3.8%-3.9% (3) | See note (3) | |||||||||
Long-term
equity market volatility | 18.4%-40.1% | |||||||||||||
Non-performance risk | 0.2%-1.2% | |||||||||||||
Utilization
rate | See note (4) | See note (4) | ||||||||||||
Lapse rate | 0.5%-11.8% | |||||||||||||
Mortality
rate | See note (5) | See note (5) | ||||||||||||
Derivative liabilities | (19.9) | See note (2) | ||||||||||||
Other
liabilities | (73.9) | See note (2) |
As
of December 31, 2012 | ||||||||||||||
Assets / | ||||||||||||||
(liabilities) | ||||||||||||||
measured
at | Valuation | Unobservable | Input/range | Weighted | ||||||||||
fair
value | technique(s) | input description | of inputs | average | ||||||||||
(in
millions) | ||||||||||||||
Assets | ||||||||||||||
Fixed
maturities, available-for-sale: | ||||||||||||||
Non-U.S. governments | $ | 12.9 | Discounted
cash flow | Discount rate (1) | 1.6% | 1.6% | ||||||||
Illiquidity
premium | 50 basis points ("bps") | 50bps | ||||||||||||
Corporate | 62.1 | Discounted cash flow | Discount rate (1) | 1.7%-12.0%
| 6.9% | |||||||||
Illiquidity premium | 0bps-100bps | 42bps | ||||||||||||
Earnings
before interest, taxes, depreciation and amortization multiple | 0x-3.5x | 0.2x | ||||||||||||
Probability
of default | 0%-100% | 6.9% | ||||||||||||
Potential
loss severity | 0%-30% | 2.1% | ||||||||||||
Collateralized debt obligations | 38.2 | Discounted cash flow | Discount
rate (1) | 1.0%-19.8% | 13.3% | |||||||||
Illiquidity premium | 400bps- 1,000bps | 791bps |
As
of December 31, 2012 | ||||||||||||||
Assets / | ||||||||||||||
(liabilities) | ||||||||||||||
measured
at | Valuation | Unobservable | Input/range | Weighted | ||||||||||
fair
value | technique(s) | input description | of inputs | average | ||||||||||
(in
millions) | ||||||||||||||
Other debt obligations | 14.7 | Discounted
cash flow | Discount rate (1) | 6.5%-20.0% | 11.8% | |||||||||
Illiquidity
premium | 0bps-50bps | 30bps | ||||||||||||
Fixed maturities, trading | 35.9 | Discounted cash flow | Discount rate (1) | 1.2%-60.5% | 4.1% | |||||||||
Illiquidity
premium | 0bps- 1,400bps | 390bps | ||||||||||||
110.4 | See note (2) | |||||||||||||
Other
investments | 80.3 | Discounted cash flow - commercial mortgage loans of consolidated VIEs | Discount rate (1) | 3.5% | 3.5% | |||||||||
Illiquidity
premium | 287bps | 287bps | ||||||||||||
33.6 | Discounted cash flow - equity method
real estate investment | Discount rate (1) | 9.3% | 9.3% | ||||||||||
Terminal
capitalization rate | 5.5% | 5.5% | ||||||||||||
Average market rent growth rate | 3.6% | 3.6% | ||||||||||||
Discounted
cash flow - equity method real estate debt | Loan to value | 49.4% | 49.4% | |||||||||||
Credit
spread rate | 3.3% | 3.3% |
As
of December 31, 2012 | ||||||||||||||
Assets / | ||||||||||||||
(liabilities) | ||||||||||||||
measured
at | Valuation | Unobservable | Input/range | Weighted | ||||||||||
fair
value | technique(s) | input description | of inputs | average | ||||||||||
(in
millions) | ||||||||||||||
Separate account assets | 4,449.0 | Discounted cash flow
- mortgage loans | Discount rate (1) | 0.8%-10.4% | 3.3% | |||||||||
Illiquidity
premium | 0bps-50bps | 20bps | ||||||||||||
Credit spread rate | 44bps-975bps | 286bps | ||||||||||||
Discounted
cash flow - real estate | Discount rate (1) | 6.5%-16.0% | 8.3% | |||||||||||
Terminal
capitalization rate | 4.8%-9.0% | 7.2% | ||||||||||||
Average market rent growth rate | 2.3%-5.5% | 3.3% | ||||||||||||
Discounted
cash flow - real estate debt | Loan to value | 17.0%-86.0% | 54.8% | |||||||||||
Credit
spread rate | 1.6%-5.3% | 3.5% | ||||||||||||
Liabilities | ||||||||||||||
Investment-type
insurance contracts | (148.1) | Discounted cash flow | Long duration interest rate | 2.6%-2.8% (3) | See note (3) | |||||||||
Long-term
equity market volatility | 18.8%-38.3% | |||||||||||||
Non-performance risk | 0.3%-1.6% | |||||||||||||
Utilization
rate | See note (4) | See note (4) | ||||||||||||
Lapse rate | 0.5%-11.8% | |||||||||||||
Mortality
rate | See note (5) | See note (5) | ||||||||||||
Derivative liabilities | (65.1) | See note (2) | ||||||||||||
Other
liabilities | (39.6) | See note (2) |
(1) | Represents
market comparable interest rate or an index adjusted rate used as the base rate in the discounted cash flow analysis prior to any credit spread, illiquidity or other adjustments, where applicable. |
(2) | Relates to a consolidated collateralized private investment vehicle that is a VIE. Fixed maturity, trading represents the underlying collateral of the investment structure and consists of high-grade fixed maturity investments, which are over-collateralized based on outstanding notes priced at par. The derivative liability represents credit default swaps that are valued using a correlation model to the credit default swap (“CDS”) Index (“CDX”) and inputs to the valuation are based on observable market data such as the end of period swap
curve, CDS constituents of the index and spread levels of the index, as well as CDX tranche spreads. The other liabilities represent obligations to third party note holders due at maturity or termination of the trust. The value of the obligations reflect the third parties’ interest in the investment structure. |
(3) | Represents the range of rate curves used in the valuation analysis that we have determined market participants would use when pricing the instrument. Derived from interpolation between observable 20 and 30-year swap rates. |
(4) | This
input factor is the number of contractholders taking withdrawals as well as the amount and timing of the withdrawals and a range does not provide a meaningful presentation. |
(5) | This input is based on an appropriate industry mortality table and a range does not provide a meaningful presentation. |
Fair
value hierarchy level | |||||||||||||||
Carrying amount | Fair value | Level 1 | Level 2 | Level 3 | |||||||||||
(in
millions) | |||||||||||||||
Assets (liabilities) | |||||||||||||||
Mortgage
loans | $ | 10,819.2 | $ | 11,048.6 | $ | - | $ | - | $ | 11,048.6 | |||||
Policy
loans | 830.1 | 933.1 | - | - | 933.1 | ||||||||||
Other
investments | 114.2 | 114.9 | - | 81.1 | 33.8 | ||||||||||
Cash
and cash equivalents | 911.1 | 911.1 | 911.1 | - | - | ||||||||||
Investment-type
insurance contracts | (29,825.2) | (30,008.7) | - | (5,902.2) | (24,106.5) | ||||||||||
Short-term
debt | (292.4) | (292.4) | - | (292.4) | - | ||||||||||
Long-term
debt | (152.4) | (156.4) | - | (103.3) | (53.1) | ||||||||||
Separate
account liabilities | (73,492.5) | (72,780.1) | - | - | (72,780.1) | ||||||||||
Bank
deposits | (1,949.0) | (1,951.1) | (1,252.2) | (698.9) | - | ||||||||||
Cash
collateral payable | (21.0) | (21.0) | (21.0) | - | - |
Fair value hierarchy level | |||||||||||||||
Carrying amount | Fair value | Level
1 | Level 2 | Level 3 | |||||||||||
(in millions) | |||||||||||||||
Assets (liabilities) | |||||||||||||||
Mortgage
loans | $ | 10,825.4 | $ | 11,459.2 | $ | - | $ | - | $ | 11,459.2 | |||||
Policy
loans | 834.0 | 1,025.0 | - | - | 1,025.0 | ||||||||||
Other
investments | 224.9 | 225.3 | - | 140.1 | 85.2 | ||||||||||
Cash
and cash equivalents | 964.2 | 964.2 | 924.2 | 40.0 | - | ||||||||||
Investment-type
insurance contracts | (31,936.8) | (32,515.2) | - | (7,367.3) | (25,147.9) | ||||||||||
Short-term
debt | (286.7) | (286.7) | - | (286.7) | - | ||||||||||
Long-term
debt | (128.9) | (139.0) | - | (109.3) | (29.7) | ||||||||||
Separate
account liabilities | (60,858.9) | (60,175.4) | - | - | (60,175.4) | ||||||||||
Bank
deposits | (2,174.7) | (2,177.7) | (1,404.4) | (773.3) | - | ||||||||||
Cash
collateral payable | (190.8) | (190.8) | (190.8) | - | - |
As
of or for the year ended December 31, | ||||||||
2013 | 2012 | 2011 | ||||||
(in millions) | ||||||||
Statutory net income | $ | 607.9 | $ | 576.1 | $ | 326.8 | ||
Statutory
capital and surplus | 4,142.2 | 3,944.3 | 4,218.2 |
(in millions) | ||||||
Assets: | ||||||
Retirement and Investor
Services | $ | 128,021.9 | $ | 116,658.1 | ||
Principal Global Investors | 1,025.0 | 1,056.2 | ||||
U.S. Insurance Solutions | 19,895.6 | 18,949.9 | ||||
Corporate | 3,838.0 | 3,407.8 | ||||
Total
consolidated assets | $ | 152,780.5 | $ | 140,072.0 |
For
the year ended December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||
(in millions) | ||||||||||
Operating
revenues by segment: | ||||||||||
Retirement and Investor Services | $ | 4,212.5 | $ | 4,321.0 | $ | 3,613.1 | ||||
Principal
Global Investors | 664.1 | 537.1 | 490.9 | |||||||
U.S. Insurance Solutions | 3,097.7 | 2,983.1 | 2,929.1 | |||||||
Corporate | (109.9) | (91.7) | (78.9) | |||||||
Total
segment operating revenues | 7,864.4 | 7,749.5 | 6,954.2 | |||||||
Net realized capital losses, net of related revenue adjustments | (299.2) | (21.2) | (191.7) | |||||||
Exited
group medical insurance business | 2.0 | 25.3 | 608.3 | |||||||
Assumption change within our Individual Life business | - | - | 4.9 | |||||||
Total
revenues per consolidated statements of operations | $ | 7,567.2 | $ | 7,753.6 | $ | 7,375.7 | ||||
Operating earnings (loss) by segment, net of | ||||||||||
related
income taxes: | ||||||||||
Retirement and Investor Services | $ | 613.3 | $ | 523.4 | $ | 513.0 | ||||
Principal
Global Investors | 87.0 | 66.9 | 59.6 | |||||||
U.S. Insurance Solutions | 199.9 | 143.3 | 209.5 | |||||||
Corporate | (35.3) | (24.1) | (32.6) | |||||||
Total
segment operating earnings, net of related | ||||||||||
income taxes | 864.9 | 709.5 | 749.5 | |||||||
Net
realized capital gains (losses), as adjusted (1) | (167.2) | 14.8 | (118.5) | |||||||
Other after-tax adjustments (2) | (1.1) | (49.4) | (82.3) | |||||||
Net
income attributable to PLIC | $ | 696.6 | $ | 674.9 | $ | 548.7 |
For
the year ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(in
millions) | ||||||||||||
Net realized capital gains (losses): | ||||||||||||
Net realized capital gains (losses) | $ | (211.3) | $ | 72.1 | $ | (98.7) | ||||||
Certain
derivative and hedging-related adjustments | (87.0) | (92.8) | (92.6) | |||||||||
Certain market value adjustments to fee revenues | - | (0.3) | (0.1) | |||||||||
Recognition
of front-end fee revenue | (0.9) | (0.2) | (0.3) | |||||||||
Net realized capital losses, net of related revenue adjustments | (299.2) | (21.2) | (191.7) | |||||||||
Amortization
of deferred acquisition and sales inducement costs | 47.8 | 36.8 | (22.7) | |||||||||
Capital gains distributed | (24.3) | (11.8) | (4.3) | |||||||||
Certain
market value adjustments of embedded derivatives | 18.4 | (0.6) | 65.6 | |||||||||
Net realized capital (gains) losses associated with exited group | ||||||||||||
medical
insurance business | - | 0.2 | (0.2) | |||||||||
Noncontrolling interest capital (gains) losses | 0.1 | (8.1) | (31.6) | |||||||||
Income
tax effect | 90.0 | 19.5 | 66.4 | |||||||||
Net realized capital gains (losses), as adjusted | $ | (167.2) | $ | 14.8 | $ | (118.5) |
(2) | For
the year ended December 31, 2013, other after-tax adjustments included the negative effect resulting from losses associated with our exited group medical insurance business that does not yet qualify for discontinued operations accounting treatment under U.S. GAAP. |
For
the year ended December 31, | |||||||||||
2013 | 2012 | 2011 | |||||||||
(in
millions) | |||||||||||
Income tax expense by segment: | |||||||||||
Retirement and Investor Services | $ | 139.2 | $ | 113.5 | $ | 130.6 | |||||
Principal
Global Investors | 48.3 | 37.0 | 32.5 | ||||||||
U.S. Insurance Solutions | 95.9 | 64.4 | 98.5 | ||||||||
Corporate | (19.6) | (17.3) | (15.2) | ||||||||
Total
segment income taxes from operating earnings | 263.8 | 197.6 | 246.4 | ||||||||
Tax benefit related to net realized capital losses, as adjusted | (90.0) | (19.5) | (66.4) | ||||||||
Tax
expense (benefit) related to other after-tax adjustments | (0.6) | (26.6) | 45.0 | ||||||||
Total income taxes expense per consolidated statements of | |||||||||||
operations | $ | 173.2 | $ | 151.5 | $ | 225.0 |
For
the year ended December 31, | |||||||||||
2013 | 2012 | 2011 | |||||||||
(in
millions) | |||||||||||
Depreciation and amortization expense by segment: | |||||||||||
Retirement and Investor Services | $ | 23.1 | $ | 21.2 | $ | 17.1 | |||||
Principal
Global Investors | 10.2 | 11.6 | 9.9 | ||||||||
U.S. Insurance Solutions | 13.7 | 14.1 | 14.0 | ||||||||
Corporate | 3.9 | 5.1 | 4.6 | ||||||||
Total
segment depreciation and amortization expense included in | |||||||||||
operating earnings | 50.9 | 52.0 | 45.6 | ||||||||
Depreciation
and amortization expense related to other | |||||||||||
after-tax adjustments | 1.4 | 6.1 | 6.1 | ||||||||
Total
depreciation and amortization expense included in our | |||||||||||
consolidated statements of operations | $ | 52.3 | $ | 58.1 | $ | 51.7 |
For
the years ended December 31, | |||||||||||
2013 | 2012 | 2011 | |||||||||
(in
millions) | |||||||||||
Retirement and Investor Services: | |||||||||||
Full-service accumulation | $ | 1,467.2 | $ | 1,353.7 | $ | 1,334.7 | |||||
Individual
annuities | 1,366.5 | 1,162.4 | 1,119.2 | ||||||||
Bank and trust services | 95.2 | 101.6 | 100.5 | ||||||||
Eliminations | (12.6) | (11.3) | (10.0) | ||||||||
Total
Accumulation | 2,916.3 | 2,606.4 | 2,544.4 | ||||||||
Investment only | 341.0 | 431.6 | 508.0 | ||||||||
Full-service
payout | 955.2 | 1,283.0 | 560.7 | ||||||||
Total Guaranteed | 1,296.2 | 1,714.6 | 1,068.7 | ||||||||
Total
Retirement and Investor Services | 4,212.5 | 4,321.0 | 3,613.1 | ||||||||
Principal Global Investors (1) | 664.1 | 537.1 | 490.9 | ||||||||
U.S.
Insurance Solutions: | |||||||||||
Individual life insurance | 1,480.9 | 1,421.9 | 1,431.0 | ||||||||
Specialty
benefits insurance | 1,616.8 | 1,561.2 | 1,498.1 | ||||||||
Total U.S. Insurance Solutions | 3,097.7 | 2,983.1 | 2,929.1 | ||||||||
Corporate | (109.9) | (91.7) | (78.9) | ||||||||
Total
operating revenues | $ | 7,864.4 | $ | 7,749.5 | $ | 6,954.2 | |||||
Total operating revenues | $ | 7,864.4 | $ | 7,749.5 | $ | 6,954.2 | |||||
Net
realized capital losses, net of related | |||||||||||
revenue adjustments | (299.2) | (21.2) | (191.7) | ||||||||
Exited
group medical insurance business | 2.0 | 25.3 | 608.3 | ||||||||
Assumption change within our Individual | |||||||||||
Life
business | - | - | 4.9 | ||||||||
Total revenues per consolidated statements of | |||||||||||
operations | $ | 7,567.2 | $ | 7,753.6 | $ | 7,375.7 |
For
the year ended December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||
(in millions) | ||||||||||
Compensation cost | $ | 42.9 | $ | 34.8 | $ | 31.7 | ||||
Related
income tax benefit | 12.8 | 11.4 | 10.8 | |||||||
Capitalized as part of an asset | 2.6 | 2.3 | 2.2 |
For the year ended December 31, | |||||||||||||
Options | 2013 | 2012 | 2011 | ||||||||||
Expected
volatility | 53.3 | % | 70.0 | % | 67.9 | % | |||||||
Expected term (in years) | 6.5 | 6.0 | 6.0 | ||||||||||
Risk-free
interest rate | 1.1 | % | 1.1 | % | 2.5 | % | |||||||
Expected dividend yield | 3.00 | % | 2.55 | % | 1.60 | % | |||||||
Weighted
average estimated fair value | $ | 11.95 | $ | 13.95 | $ | 18.82 |
For
the three months ended | |||||||||||||
December 31 | September 30 | June 30 | March 31 | ||||||||||
(in
millions) | |||||||||||||
2013 | |||||||||||||
Total revenues | $ | 2,197.7 | $ | 1,779.0 | $ | 1,814.3 | $ | 1,776.2 | |||||
Total
expenses | 1,971.5 | 1,531.3 | 1,587.0 | 1,590.0 | |||||||||
Net income | 182.3 | 195.8 | 182.4 | 153.7 | |||||||||
Net
income attributable to PLIC | 175.2 | 191.5 | 178.9 | 151.0 | |||||||||
2012 | |||||||||||||
Total
revenues | $ | 1,899.3 | $ | 2,352.4 | $ | 1,800.3 | $ | 1,701.6 | |||||
Total expenses | 1,617.6 | 2,223.5 | 1,591.2 | 1,476.5 | |||||||||
Net
income | 222.4 | 148.0 | 155.0 | 167.9 | |||||||||
Net income attributable to PLIC | 218.8 | 145.1 | 152.4 | 158.6 |
(a) | Financial Statements included in the Registration Statement |
(1) | Part A: None |
(2) | Part
B: |
(3) | Part C |
(b) | Exhibits | |
(1) | Resolution
of Board of Directors of the Depositor (filed with the Commission on 07/02/2014 Accession No. 0000009713-14-000078) | |
(3a) | Distribution Agreement (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(3b) | Selling Agreement (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(4a) | Form
of Variable Annuity Contract (filed with the Commission on 09/16/2014 Accession No. 0000009713-14-000082) | |
(4b) | Waiver of Surrender Charge Rider (filed with the Commission on 09/16/2014 Accession No. 0000009713-14-000082) | |
(4c) | Deferred Income Rider (filed with the Commission on 09/16/2014 Accession No. 0000009713-14-000082) | |
(4d) | No
Surrender Charge Rider (Liquidity Max) (filed with the Commission on 09/16/2014 Accession No. 0000009713-14-000082) | |
(4e) | Return of Premium Death Benefit Rider (filed with the Commission on 09/16/2014 Accession No. 0000009713-14-000082) | |
(4f) | Annual Step-up Death Benefit Rider (filed with the Commission on 09/16/2014 Accession No. 0000009713-14-000082) | |
(4g) | Contract
Data Page (filed with the Commission on 09/16/2014 Accession No. 0000009713-14-000082) | |
(5) | Form of Variable Annuity Application (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(6a) | Articles of Incorporation of the Depositor (filed with the Commission on 07/02/2014 Accession No. 0000009713-14-000078) | |
(6b) | Bylaws
of Depositor (filed with the Commission on 07/02/2014 Accession No. 0000009713-14-000078) | |
(8a1) | AIM Variable Insurance Funds, Inc. Participation Agreement dated 06/08/1999 as amended on 04/01/2001, 05/01/2002, 08/15/2002, 01/08/2003, 02/14/2003, 04/30, 2004, 04/29/2005 and 05/01/2006 (filed with the Commission for 333-116220 as Ex-99.8A1 on 05/01/2008 Accession No. 0000950137-08-006515) | |
(8a2) | AIM
Variable Insurance Funds, Inc. Amendment to Participation Agreement dated 04/30/2010 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8a3) | AIM Variable Insurance Funds Tenth Amendment to Participation Agreement dated 04/01/2011 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) |
(8a4) | AIM
Variable Insurance Funds Eleventh Amendment & Joinder to Participation Agreement dated 11/01/2011 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8a5) | AIM Distributors, Inc. Distribution Services Agreement dated 10/01/2002 (filed with the Commission for 333-116220 as Ex-99.8A2 on 05/01/2008 Accession No. 0000950137-08-006515) | |
(8a6) | AIM
Investment Services, Inc. Rule 22c-2 Agreement dated 04/16/2007 (filed with the Commission for 333-116220 as Ex-99.8A3 on 05/01/2008 Accession No. 0000950137-08-006515) | |
(8a7) | AIM Investment Services, Inc. First Amendment & Joinder to the Rule 22c-2 Agreement dated 11/01/2011 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8a8) | AIM
Advisors, Inc. Administrative Services Agreement dated 06/08/1999 (filed with the Commission for 333-116220 as Ex-99.8A4 on 05/01/2008 Accession No. 0000950137-08-006515) | |
(8a9) | AIM Advisors, Inc. Administrative Services Agreement Amendment 1 dated 04/30/2004 (filed with the Commission for 333-116220 as Ex-99.8A1 on 05/01/2008 Accession No. 0000950137-08-006515) | |
(8a10) | AIM
Advisors, Inc. Administrative Services Agreement Second Amendment & Joinder dated 11/01/2011 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8b1) | American Funds Distributors, Inc. Participation and Service Agreement dated 05/01/2014 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8b2) | American
Funds Distributors, Inc. Business Agreement dated 05/01/2014 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8b3) | American Funds Service Company Rule 22c-2 Agreement dated 05/19/2014 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8c1) | American Century Investment Services, Inc.
Shareholder Services Agreement dated 04/01/1999 as amended on 05/01/2001, 05/01/2002, 05/01/2004, and 10/13/2005 (filed with the Commission for 333-116220 as Ex-99.8C1 on 05/01/2008 Accession No. 0000950137-08-006515) | |
(8c2) | American Century Investment Services, Inc. Amendment No. 5 to Shareholder Services Agreement dated 06/01/2011 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8c3) | American
Century Investment Services, Inc. Amendment No. 6 and Joinder to Shareholder Service Agreement dated 11/01/2011 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8c4) | American Century Investment Services, Inc. Amendment No. 7 to Shareholder Service Agreement dated 03/20/2014 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8c5) | American
Century Investment Services, Inc. Rule 22c-2 Agreement (filed with the Commission as Ex-99.8C2 on 05/01/08 Accession No. 0000950137-08-006515) | |
(8c6) | American Century Investment Services, Inc. Amendment No. 1 to Rule 22c-2 Agreement dated 11/01/2011 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8d1) | Calvert
Variable Products, Inc. Consolidated Fund Participation Agreement dated 11/01/2011 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8d2) | Calvert Insurance Services, Inc. Amendment to Consolidated Fund Participation Agreement dated 04/30/2014 * | |
(8d3) | Calvert Insurance Services, Inc. Consolidated Services Agreement dated 11/01/2011 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8d4) | Calvert
Insurance Services, Inc. Amendment to Consolidated Services Agreement dated 04/30/2014 * | |
(8d5) | Calvert Distributors, Inc. Rule 22-2 Agreement with Princor dated 04/10/2007 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8d6) | Calvert Distributors, Inc. Rule 22-2 Agreement with Principal Life Insurance Company dated 03/29/2007 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8d7) | Calvert
Investors, Inc. Omnibus Termination Agreement dated 11/01/2011 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8e1) | DWS Scudder Distributors, Inc. Participation Agreement dated 12/01/2007 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8e2) | DWS Investments Distributors, Inc. Amendment
No. 1 to Participation Agreement dated 01/05/2011 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8e3) | DWS Investments Distributors, Inc. Amendment No. 2 to Participation Agreement dated 05/01/2011 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8e4) | DWS Investments Distributors,
Inc. Amendment No. 3 and Joinder to Participation Agreement dated 12/18/2012 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8e5) | DWS Investments Distributors, Inc. Amendment No. 4 to Participation Agreement dated 04/10/2013 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) |
(8f1) | Fidelity
Distributors Corporation Amended and Restated Participation Agreement dated 12/20/2004 (filed with the Commission for 333-116220 as Ex-99.8E1 on 05/01/2008 Accession No. 0000950137-08-006515) | |
(8f2) | Fidelity Investments Institutional Operations Company, Inc. Services Agreement dated 07/01/1999 (filed with the Commission for 333-116220 as Ex-99.8E2 on 05/01/2008 Accession No. 0000950137-08-006515) | |
(8f3) | Fidelity
Investments Institutional Operations Company, Inc. Service Contract for Service Class Shares dated 07/01/1999 (filed with the Commission for 333-116220 as Ex-99.8E3 on 05/01/2008 Accession No. 0000950137-08-006515) | |
(8f4) | Fidelity Investments Institutional Operations Company, Inc. Service Contract for Service Class Shares dated 07/01/1999 (filed with the Commission for 333-116220 as Ex-99.8E3 on 05/01/2008 Accession No. 0000950137-08-006515) | |
(8f5) | Fidelity
Investments Institutional Operations Company, Inc. Service Contract for Initial Class Shares dated 03/01/2000 (filed with the Commission for 333-116220 as Ex-99.8E4 on 05/01/2008 Accession No. 0000950137-08-006515) | |
(8f6) | Fidelity Investments Institutional Operations Company, Inc. Service Contract for Service Class 2 Shares dated 04/01/2002 (filed with the Commission for 333-116220 as Ex-99.8E5 on 05/01/2008 Accession No. 0000950137-08-006515) | |
(8g1) | Franklin
Templeton Distributors, Inc. Amended and Restated Participation Agreement dated 11/01/2007 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8g2) | Franklin Templeton Distributors, Inc. Amendment No. 1 to Amended and Restated Participation Agreement dated 09/10/2009 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8g3) | Franklin
Templeton Distributors, Inc. Amendment No. 2 to Amended and Restated Participation Agreement dated 08/16/2010 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8g4) | Franklin Templeton Distributors, Inc. Addendum to the Amended and Restated Participation Agreement Addendum dated 05/01/2011 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8g5) | Franklin
Templeton Distributors, Inc. Amendment No. 3 to Amended and Restated Participation Agreement dated 11/01/2011 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8g6) | Franklin Templeton Distributors, Inc. Amendment No. 4 to Amended and Restated Participation Agreement dated 09/16/2013 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8g7) | Franklin
Templeton Distributors, Inc. Amendment No. 5 to Amended and Restated Participation Agreement dated 05/01/2014 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8g8) | Franklin Templeton Services, LLC Administrative Services Agreement dated 12/14/2007 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8g9) | Franklin
Templeton Services, LLC Amendment No. 1 to Administrative Services Agreement dated 09/10/2009 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8g10) | Franklin Templeton Services, LLC Amendment No. 2 to Administrative Services Agreement dated 04/20/2011 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8g11) | Franklin
Templeton Services, LLC Amendment No. 3 to Administrative Services Agreement dated 11/01/2011 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8g12) | Franklin Templeton Services, LLC Amendment No. 4 to Administrative Services Agreement dated 05/24/2013 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8g13) | Franklin
Templeton Distributors, Inc. Rule 22c-2 Agreement dated 04/16/2007 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8h1) | Goldman Sachs Variable Insurance Trust Participation Agreement dated 07/30/2004 (filed with the Commission for 333-116220 as Ex-99.8F1 on 05/01/2008 Accession No. 0000950137-08-006515) | |
(8h2) | Goldman
Sachs Variable Insurance Trust Participation Agreement Amendment No. 1 dated 06/20/2008 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8h3) | Goldman Sachs Variable Insurance Trust Participation Agreement Amendment No. 2 dated 04/07/2011 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8h4) | Goldman
Sachs Variable Insurance Trust Participation Agreement Amendment No. 3 dated 10/26/2012 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8h5) | Goldman Sachs & Co. Administrative Services Agreement dated 07/30/2004 (filed with the Commission for 333-116220 as Ex-99.8F2 on 05/01/2008 Accession No. 0000950137-08-006515) | |
(8h6) | Goldman
Sachs & Co. Administrative Services Agreement Amendment No. 1 dated 06/20/2008 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8h7) | Goldman Sachs & Co. Administrative Services Agreement Amendment No. 2 dated 10/26/2012 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) |
(8h8) | Goldman
Sachs & Co. Rule 22c-2 Agreement dated 10/16/2007 (filed with the Commission for 333-116220 as Ex-99.8F3 on 05/01/2008 Accession No. 0000950137-08-006515) | |
(8h9) | Goldman Sachs & Co. Rule 22c-2 Agreement Amendment No. 1 dated 10/26/2012 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8i1) | Guggenheim
Participation Agreement ** | |
(8j1) | Janus Aspen Series Participation Agreement (Service Shares) dated 04/28/2000, as amended 08/20/2007 (filed with the Commission for 033-74232 on 05/01/2008 Accession No. 0000950137-08-006521) | |
(8j2) | Janus Aspen Series Amendment No. 7 to Fund Participation Agreement (Service Shares) dated 11/01/2011 (filed with the Commission on 10/07/2014
Accession No. 0000009713-14-000086) | |
(8j3) | Janus Aspen Series Amendment No. 8 to Fund Participation Agreement (Service Shares) dated 02/24/2012 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8j4) | Janus Capital Management LLC Administrative Services Letter Agreement dated 05/06/2008 (filed with the Commission
on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8j5) | Janus Capital Management LLC Amendment to Administrative Services Letter Agreement (Service Shares) dated 11/01/2011 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8j6) | Janus Distributors, Inc. Distribution and Shareholder Services Agreement dated 08/28/2000
(filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8j7) | Janus Funds Distribution and Shareholder Services Agreement - Janus Aspen Series - Service Shares dated 10/19/2001 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8j8) | Janus Distributors, LLC letter amendment to Distribution,
Shareholder Servicing, Administrative Servicing and Fund/SERV Agreements dated 08/14/2006 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8j9) | Janus Distributors LLC Amendment to Distribution and Shareholder Services Agreement dated 11/01/2011 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8j10) | Janus
Aspen Series Rule 22c-2 Agreement dated 04/16/2007 (filed with the Commission for 033-74232 on 05/01/2008 Accession No. 0000950137-08-006521) | |
(8j11) | Janus Distributors LLC Amendment to Rule 22c-2 Agreement dated 11/01/2011 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8j12) | Janus
Services LLC Supplemental Agreement - Letter Regarding handling of Mutual Fund Orders dated 05/20/2005 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8k1) | MFS Fund Distributors, Inc. Amended and Restated Participation Agreement dated 05/01/2013 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8k2) | MFS
Fund/Serv and Networking Agreement to Amended and Restated Participation Agreement dated 05/01/2013 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8k3) | MFS Fund Distributors, Inc. Administrative Services Letter Agreement dated 05/01/2013 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8k4) | MFS
Variable Insurance Trust Website Regulatory Document Agreement dated 03/06/2008 (filed with the Commission for 333-116220 as Ex-99.8J12 on 04/30/2010 Accession No. 0000898745-10-000129) | |
(8k5) | MFS Fund Distributors, Inc. Rule 22c-2 Shareholder Information Agreement dated 10/16/2007 (filed with the Commission for 333-116220 as Ex-99.8J13 on 04/30/2010 Accession No. 0000898745-10-000129) | |
(8k6) | MFS
Fund Distributors, Inc. Amendment No. 1 to Rule 22c-2 Shareholder Information Agreement dated 11/01/2011 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8l1) | PIMCO Variable Insurance Trust Participation Agreement dated 03/09/09- (filed with the Commission for 333-116220 as Ex-99.B (8k1) on 03/01/10 Accession No. 0000898745-10-000129) | |
(8l2) | PIMCO
Variable Insurance Trust Novation of and Amendment to Participation Agreement dated 10/22/2010 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8l3) | PIMCO Variable Insurance Trust Participation Agreement Novation No. 1 dated 10/22/2010 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8l4) | PIMCO
Variable Insurance Trust Participation Agreement Novation No. 2 dated 10/22/2010 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8l5) | PIMCO Variable Insurance Trust Participation Agreement Instrument of Accession and Amendment dated 08/29/2012 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8l6) | PIMCO
Variable Insurance Trust Administrative Services Agreement for Administrative Class Shares dated 03/09/09 (filed with the Commission for 333-116220 as Ex-99.B (8k2) on 03/01/10 Accession No. 0000898745-10-000129) |
(8l7) | PIMCO
Variable Insurance Trust Administrative Services Agreement for Administrative Class Shares Amendment No. 1 dated 04/22/09 (filed with the Commission for 333-116220 as Ex-99.B (8k3) on 03/01/10 Accession No. 0000898745-10-000129) | |
(8l8) | PIMCO Variable Insurance Trust Administrative Services Agreement Assignment and Amendment dated 03/29/2012 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8m1) | Principal
Variable Contracts Funds, Inc. Participation Agreement dated 01/05/2007 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8m2) | Principal Variable Contracts Funds, Inc. Participation Agreement Amendment No. 1 dated 06/01/2007 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8m3) | Principal
Variable Contracts Funds, Inc. Participation Agreement Amendment No. 2 dated 01/01/2010 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8m4) | Principal Variable Contracts Funds, Inc. Participation Agreement Letter Amendment dated 06/17/2010 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8m5) | Principal
Variable Contracts Funds, Inc. Participation Agreement Amendment No. 3 and Joinder dated 11/01/2011 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8m6) | Principal Variable Contracts Fund, Inc. Rule 12b-1 Compensation Letter dated 12/30/2009 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8m7) | Principal
Variable Contracts Fund, Inc. Amendment to Rule 12b-1 Compensation Letter dated 11/09/2011 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8m8) | Principal Variable Contracts Funds, Inc. Rule 22c-2 Agreement dated 04/16/2007 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8m9) | Principal
Variable Contracts Funds, Inc. Rule 22c-2 Agreement Amendment No. 1 and Joinder dated 11/01/2011 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8n1) | Rydex Participation Agreement ** | |
(8o1) | Van Eck Worldwide Insurance Trust Participation Agreement dated 11/28/2007 (filed with the Commission for 333-116220 as Ex-99.8L1 on 03/01/2010
Accession No. 0000898745-10-000129) | |
(8o2) | Van Eck Worldwide Insurance Trust Participation Agreement Amendment No. 1 dated 04/24/2009 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8o3) | Van Eck VIP Trust Participation Agreement Amendment No. 2 and Joinder dated 11/01/2011 (filed with the Commission on 10/07/2014
Accession No. 0000009713-14-000086) | |
(8o4) | Van Eck Securities Corporation Service Agreement dated 11/28/2007 (filed with the Commission for 333-116220 as Ex-99.8L3 on 03/01/2010 Accession No. 0000898745-10-000129) | |
(8o5) | Van Eck Securities Corporation
Service Agreement Amendment No. 1 dated 04/24/2009 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8o6) | Van Eck Securities Corporation Service Agreement Amendment No. 2 dated 05/01/2011 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8o7) | Van Eck Securities Corporation Service
Agreement Amendment No. 2 and Joinder dated 11/01/2011 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8o8) | Van Eck Securities Corporation Service Agreement Amendment No. 4 dated 05/01/2012 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(8o9) | Van Eck Securities Corporation Shareholder
Information Agreement (Rule 22c-2) dated 11/28/2007 (filed with the Commission for 333-116220 as Ex-99.8L2 on 03/01/2010 Accession No. 0000898745-10-000129) | |
(8o10) | Van Eck Securities Corporation Shareholder Information Agreement (Rule 22c-2) Amendment No. 1 and Joinder dated 11/01/2011 (filed with the Commission on 10/07/2014 Accession No. 0000009713-14-000086) | |
(9) | Opinion
of Counsel * | |
(10a) | Consent of Ernst & Young LLP * | |
(10b) | Powers of Attorney (filed with the Commission on 07/02/2014 Accession No. 0000009713-14-000078) | |
(10c) | Consent of
Counsel -- N/A | |
(11) | Financial Statement Schedules * | |
* Filed Herein | ||
** To be filed by amendment |
Name and Principal Business Address | Positions and Offices |
BETSY J. BERNARD 40 Shalebrook Drive | Director Chair,
Nominating and Governance Committee Member, Executive and Human Resources Committees |
JOCELYN CARTER-MILLER 8701 Banyan Court | Director Member, Nominating and Governance Committee |
GARY E. COSTLEY 520 Sandhill Ct. | Director Member, Audit Committee |
MICHAEL T. DAN 495 Rudder Road | Director Chair, Human Resources Committee |
DENNIS
H. FERRO 21 Sago Palm Road | Director Member, Audit Committee |
C. DANIEL GELATT, JR. NMT Corporation 2004 Kramer Street | Director Member, Audit and Human Resources Committees |
SANDRA L. HELTON 1040 North Lake Shore Drive #26A | Director Chair, Audit Committee Member, Executive Committee |
RICHARD
L. KEYSER 5215 Old Orchard Place, Ste. 440 | Director Member, Nominating and Governance and Human Resources Committees |
LUCA MAESTRI Apple Inc. 1 Infinite Loop | Director Member,
Audit Committee |
ELIZABETH E. TALLETT Hunter Partners, LLC 12 Windswept Circle | Director Member, Executive, Human Resources and Nominating and Governance Committees |
LARRY D. ZIMPLEMAN The Principal Financial Group | Chairman of the Board and Chair, Executive Committee, Principal Life: Chairman, President and Chief Executive Officer |
Name
and Principal Business Address | Positions and Offices |
REX AUYEUNG(1) | Senior Vice President and President, Principal Financial Group - Asia |
DAVID M. BLAKE(2) | Senior Executive Director and Head Global Fixed Income |
ELIZABETH S. BRADY(2) | Senior Vice President and Chief Marketing Officer |
NED A. BURMEISTER(2) | Senior
Vice President and Chief Operating Officer, Principal International |
GREGORY J. BURROWS(2) | Senior Vice President Retirement and Investor Services |
TERESA M. BUTTON(2) | Vice President and Treasurer |
TIMOTHY M. DUNBAR(2) | Executive Vice President and Chief Investment Officer |
GREGORY B. ELMING(2) | Senior
Vice President and Chief Risk Officer |
RALPH C. EUCHER(2) | Executive Vice President |
NORA M. EVERETT(2) | Senior Vice President Retirement and Investor Services |
PATRICK G. HALTER(2) | Senior Executive Director Principal Real Estate Investors |
DANIEL J. HOUSTON(2) | President
- Retirement, Insurance and Financial Services |
JULIA M. LAWLER(2) | Senior Vice President and Chief Investment Officer Retirement and Investor Services |
TERRANCE J. LILLIS(2) | Executive Vice President and Chief Financial Officer |
JAMES P. MCCAUGHAN(2) | President - Global Asset Management |
BARBARA A. MCKENZIE(2) | Senior
Executive Director and Chief Operating Officer - Boutique Operations (PGI) |
TIMOTHY J. MINARD(2) | Senior Vice President - Distribution |
GERALD W. PATTERSON(2) | Senior Vice President Retirement and Investor Services |
ELIZABETH L. RAYMOND(2) | Senior Vice President and Chief Human Resources Officer |
ANGELA R. SANDERS(2) | Senior
Vice President and Controller |
GARY P. SCHOLTEN(2) | Executive Vice President and Chief Information Officer |
KAREN E. SHAFF(2) | Executive Vice President, General Counsel and Secretary |
ELLEN W. SHUMWAY(2) | Senior Executive Director - Strategy and Boutique Operations (PGI) |
DEANNA D. STRABLE(2) | Senior
Vice President - U.S. Insurance Solutions |
LUIS E. VALDES(2) | President - International Asset Management and Accumulation |
ROBERTO WALKER(3) | Senior Vice President and President , Principal Financial Group - Latin America |
(1) | Unit 1001-3, Central Plaza |
18
Harbour Road | |
Wanchai | |
Hong Kong, China | |
(2) | 711 High Street |
(3) | Principal
Vida Chile |
Av Apoquindo 3600 | |
Las Condes | |
Santiago, Chile |
Principal
Life Insurance Company - Organizational Structure | ||||||||||||||||||||||||
PRINCIPAL
FINANCIAL GROUP, INC. | Delaware | Publicly Held | ||||||||||||||||||||||
ˆPrincipal Financial Services, Inc.*# | Iowa | 100 | ||||||||||||||||||||||
-->Princor
Financial Services Corporation*# | Iowa | 100 | ||||||||||||||||||||||
-->PFG DO Brasil LTDA*# | Brazil | 100 | ||||||||||||||||||||||
-->Brasilprev
Seguros E Previdencia S.A.* | Brazil | 50.01 | ||||||||||||||||||||||
-->Principal Global Investors Participacoes, LTDA*# | Brazil | 100 | ||||||||||||||||||||||
-->Claritas
Investments Ltd.*# | Cayman Islands | 66 | ||||||||||||||||||||||
-->Claritas Participacoes S.A.*# | Brazil | 81 | ||||||||||||||||||||||
-->Claritas
Administracao de Recursos LTDA *# | Brazil | 77 | ||||||||||||||||||||||
-->Principal International, Inc.*# | Iowa | 100 | ||||||||||||||||||||||
-->Principal
International (Asia) Limited*# | Hong Kong | 100 | ||||||||||||||||||||||
-->Principal Global Investors (Asia) Limited*# | Hong Kong | 100 | ||||||||||||||||||||||
-->Principal
Nominee Company (Hong Kong) Limited*# | Hong Kong | 100 | ||||||||||||||||||||||
-->Principal Asset Management Company (Asia) Limited*# | Hong
Kong | 100 | ||||||||||||||||||||||
-->Principal Insurance Company (Hong Kong) Limited*# | Hong Kong | 100 | ||||||||||||||||||||||
-->CIMB
- Principal Asset Management Berhad (Malaysia) * | Malaysia | 40 | ||||||||||||||||||||||
-->CIMB Wealth Advisors Berhad* | Malaysia | 100 | ||||||||||||||||||||||
-->CIMB
- Principal Asset Management (Singapore) PTE LTD*# | Singapore | 100 | ||||||||||||||||||||||
-->CIMB - Principal Asset Management Company Limited* | Thailand | 99.99 | ||||||||||||||||||||||
-->PT
CIMB Principal Asset Management* | Indonesia | 99 | ||||||||||||||||||||||
-->Principal Trust Company(Asia) Limited*# | Hong Kong | 100 | ||||||||||||||||||||||
-->PrinCorp
Wealth Advisors (Asia) Limited *# | Hong Kong | 100 | ||||||||||||||||||||||
-->Principal Mexico Servicios, S.A. de C.V.*# | Mexico | 100 | ||||||||||||||||||||||
-->Distribuidora
Principal Mexico, S.A. de C.V.*# | Mexico | 100 | ||||||||||||||||||||||
-->Principal International Mexico, LLC *# | Delaware | 100 | ||||||||||||||||||||||
-->Principal
Consulting (India) Private Limited*# | India | 100 | ||||||||||||||||||||||
-->Principal Financial Group, S.A. de C. V. Grupo Financiero.*# | Mexico | 100 | ||||||||||||||||||||||
-->Principal
Afore, S. A. de C.V., Principal Grupo Financiero*# | Mexico | 100 | ||||||||||||||||||||||
-->Principal Fondos de Inversion S.A. de C.V., Operadora de Fondos de Inversion, Principal Grupo Financiero *# | Mexico | 100 | ||||||||||||||||||||||
-->Principal
Seguros, S.A. de C.V., Principal Grupo Financiero*# | Mexico | 100 | ||||||||||||||||||||||
-->Principal Pensiones, S.A. de C.V., Principal Grupo Financiero*# | Mexico | 100 | ||||||||||||||||||||||
-->Principal
Global Investors Holding Company, Inc.*# | Delaware | 100 | ||||||||||||||||||||||
-->Principal Global Investors (Ireland) Limited*# | Ireland | 100 | ||||||||||||||||||||||
-->Principal
Global Investors (Europe) Limited*# | United Kingdom | 100 | ||||||||||||||||||||||
-->Principal Global Investors (Singapore) Limited*# | Singapore | 100 | ||||||||||||||||||||||
-->Principal
Global Investors (Japan) Limited*# | Japan | 100 | ||||||||||||||||||||||
-->Principal Global Investors (Hong Kong) Limited*# | Hong
Kong | 100 | ||||||||||||||||||||||
-->CIMB Principal Islamic Asset Management SDN. BHD*# | Malaysia | 50 | ||||||||||||||||||||||
-->Principal
Financial Group (Mauritius) Ltd.*# | Mauritius | 100 | ||||||||||||||||||||||
-->Principal PNB Asset Management Company Private Limited*# | India | 66 | ||||||||||||||||||||||
-->Principal
Trustee Company Private Limited*# | India | 65 | ||||||||||||||||||||||
-->Principal Retirement Advisors Private Limited*# | India | 100 | ||||||||||||||||||||||
-->Principal
Life Insurance Company +# | Iowa | 100 | ||||||||||||||||||||||
-->Principal Real Estate Fund Investors, LLC*#< | Delaware | 100 | ||||||||||||||||||||||
-->Principal
Development Investors, LLC*#< | Delaware | 100 | ||||||||||||||||||||||
-->Principal Real Estate Holding Company, LLC*#< | Delaware | 100 | ||||||||||||||||||||||
-->GAVI
PREHC HC, LLC*#< | Delaware | 100 | ||||||||||||||||||||||
-->Principal Global Investors, LLC*#< | Delaware | 100 | ||||||||||||||||||||||
-->Principal
Real Estate Investors, LLC*# | Delaware | 100 | ||||||||||||||||||||||
-->Principal Enterprise Capital, LLC*# | Delaware | 100 | ||||||||||||||||||||||
-->PGI
Origin Holding Company Ltd.*#< | Wales/United Kingdom | 100 | ||||||||||||||||||||||
-->Origin Asset Management LLP*#< | Wales/United
Kingdom | 74 | ||||||||||||||||||||||
-->PGI Finisterre Holding Company Ltd. | Wales/United Kingdom | 100 | ||||||||||||||||||||||
-->Finisterre
Holdings Limited * | Malta | 51 |
-->Finisterre
Capital UK Limited * | Wales/United Kingdom | 100 | ||||||||||||||||||||||
-->Finisterre Capital LLP * | Wales/United
Kingdom | 89 | ||||||||||||||||||||||
-->Finisterre Hong Kong Limited * | Hong Kong | 100 | ||||||||||||||||||||||
-->Finisterre
Malta Limited * | Malta | 100 | ||||||||||||||||||||||
-->Finisterre
USA, Inc. * | Delaware | 100 | ||||||||||||||||||||||
-->Principal Commercial Funding, LLC*#< | Delaware | 100 | ||||||||||||||||||||||
-->Principal
Global Columbus Circle, LLC*#< | Delaware | 100 | ||||||||||||||||||||||
-->CCI Capital Partners, LLC *#< | Delaware | 100 | ||||||||||||||||||||||
-->Post
Advisory Group, LLC*#< | Delaware | 80 | ||||||||||||||||||||||
-->Post Advisory Europe Limited *#< | Wales/United
Kingdom | 100 | ||||||||||||||||||||||
-->Principal Global Investors Trust*#< | Delaware | 100 | ||||||||||||||||||||||
-->Spectrum
Asset Management, Inc.*#< | Connecticut | 100 | ||||||||||||||||||||||
-->CCIP, LLC*#< | Delaware | 100 | ||||||||||||||||||||||
-->Columbus
Circle Investors*#< | Delaware | 70 | ||||||||||||||||||||||
-->Principal Holding Company, LLC*#< | Iowa | 100 | ||||||||||||||||||||||
-->Petula
Associates, LLC*< | Iowa | 100 | ||||||||||||||||||||||
-->Principal Real Estate Portfolio, Inc.*#< | Delaware | 100 | ||||||||||||||||||||||
-->GAVI
PREPI HC, LLC *#< | Delaware | 100 | ||||||||||||||||||||||
-->Petula Prolix Development Company*#< | Iowa | 100 | ||||||||||||||||||||||
-->Principal
Commercial Acceptance, LLC*#< | Delaware | 100 | ||||||||||||||||||||||
-->Principal Generation Plant, LLC*#< | Delaware | 100 | ||||||||||||||||||||||
-->Principal
Bank*#< | Iowa | 100 | ||||||||||||||||||||||
-->Equity FC, Ltd.*#< | Iowa | 100 | ||||||||||||||||||||||
-->Principal
Dental Services, Inc.*#< | Arizona | 100 | ||||||||||||||||||||||
-->Employers Dental Services, Inc.*#< | Arizona | 100 | ||||||||||||||||||||||
-->First
Dental Health *#< | California | 100 | ||||||||||||||||||||||
-->Delaware Charter Guarantee & Trust Company*#< | Delaware | 100 | ||||||||||||||||||||||
-->Preferred
Product Network, Inc.*#< | Delaware | 100 | ||||||||||||||||||||||
-->Principal Reinsurance Company of Vermont*# | Vermont | 100 | ||||||||||||||||||||||
-->Principal
Life Insurance Company of Iowa*#< | Iowa | 100 | ||||||||||||||||||||||
-->Principal Reinsurance Company of Delaware*#< | Delaware | 100 | ||||||||||||||||||||||
-->Principal
Financial Services (Australia), Inc.*# | Iowa | 100 | ||||||||||||||||||||||
-->Principal Global Investors (Australia) Service Company Pty Limited*# | Australia | 100 | ||||||||||||||||||||||
-->Principal
Global Investors (Australia) Limited*# | Australia | 100 | ||||||||||||||||||||||
-->Principal International Holding Company, LLC*# | Delaware | 100 | ||||||||||||||||||||||
-->Principal
Management Corporation*# | Iowa | 100 | ||||||||||||||||||||||
-->Principal Financial Advisors, Inc.*# | Iowa | 100 | ||||||||||||||||||||||
-->Principal
Shareholder Services, Inc.*# | Washington | 100 | ||||||||||||||||||||||
-->Edge Asset Management, Inc.*# | Washington | 100 | ||||||||||||||||||||||
-->Principal
Funds Distributor, Inc.*# | Washington | 100 | ||||||||||||||||||||||
-->Principal Global Services Private Limited*# | India | 100 | ||||||||||||||||||||||
-->CCB
Principal Asset Management Company, Ltd.* | China | 25 | ||||||||||||||||||||||
-->Principal Financial Services I (US), LLC *# | Delaware | 100 | ||||||||||||||||||||||
-->Principal
Financial Services II (US), LLC *# | Delaware | 100 | ||||||||||||||||||||||
-->Principal Financial Services I (UK) LLP *# | Wales/United
Kingdom | 100 | ||||||||||||||||||||||
-->Principal Financial Services IV (UK) LLP *# | United Kingdom | 100 | ||||||||||||||||||||||
-->Principal
Financial Services V (UK) LTD.*# | United Kingdom | 100 | ||||||||||||||||||||||
-->Principal Financial Services II (UK) LTD. *# | Wales/United
Kingdom | 100 | ||||||||||||||||||||||
-->Principal Financial Services III (UK) LTD. *# | Wales/United Kingdom | 100 | ||||||||||||||||||||||
-->Principal
Financial Services VI (UK) LTD *# | United Kingdom | 100 | ||||||||||||||||||||||
-->Principal
Global Financial Services (Europe) LTD *# | United Kingdom | 100 | ||||||||||||||||||||||
-->Liongate
Capital Management LLP * | Wales/United Kingdom | 59 | ||||||||||||||||||||||
-->Liongate
Limited * | Malta | 55 | ||||||||||||||||||||||
-->Liongate
Capital Management (Cayman) Limited * | Cayman Islands | 100 | ||||||||||||||||||||||
-->Liongate
Capital Management (UK) Limited * | Wales/United Kingdom | 100 | ||||||||||||||||||||||
-->Liongate
Multi-Strategy GP Limited * | Cayman Islands | 100 | ||||||||||||||||||||||
-->Liongate
Capital Management Limited * | Malta | 100 | ||||||||||||||||||||||
-->Liongate
Capital Management (India) Private Limited * | India | 100 |
-->Liongate
Capital Management Inc. | Delaware | 100 | ||||||||||||||||||||||
-->Liongate
Capital Management (US) LP * | Delaware | 100 | ||||||||||||||||||||||
-->Principal
Financial Services Latin America LTD. *# | Wales/United Kingdom | 100 | ||||||||||||||||||||||
-->Principal
International Latin America LTD.*# | United Kingdom | 100 | ||||||||||||||||||||||
-->Principal
International South America I LTD.*# | Wales/United Kingdom | 100 | ||||||||||||||||||||||
-->Principal
International South America II LTD.*# | Wales/United Kingdom | 100 | ||||||||||||||||||||||
-->Principal
International South America II LTD., Agencia En Chile *# | Chile/United Kingdom | 100 | ||||||||||||||||||||||
-->Principal
International de Chile, S.A.*# | Chile | 100 | ||||||||||||||||||||||
-->Principal
Compania de Seguros de Vida Chile S.A.*# | Chile | 100 | ||||||||||||||||||||||
-->Principal
Administradora General De Fondos S.A.*# | Chile | 100 | ||||||||||||||||||||||
-->Principal
Asset Management Chile S.A.*# | Chile | 100 | ||||||||||||||||||||||
-->Principal
Servicios Corporativos Chile LTDA*# | Chile | 100 | ||||||||||||||||||||||
-->Principal
Servicios De Administracion S.A. | Chile | 100 | ||||||||||||||||||||||
-->Hipotecaria
Cruz Del Sur Principal, S.A * | Chile | 49 | ||||||||||||||||||||||
-->Principal
Holding Company Chile S.A.*# | Chile | 100 | ||||||||||||||||||||||
-->Principal
Chile Limitada*# | Chile | 100 | ||||||||||||||||||||||
-->Principal
Institutional Chile S.A. *# | Chile | 100 | ||||||||||||||||||||||
-->Administradora
de Fondos de Pensiones Cuprum S.A. *# | Chile | 94 | ||||||||||||||||||||||
-->Inversiones
Cuprum Internacional S.A.*# | Chile | 100 | ||||||||||||||||||||||
-->Principal Edge Network Holdings, Inc.*# | Delaware | 100 | ||||||||||||||||||||||
-->Principal
Edge Network - Georgia, LLC*# | Delaware | 100 | ||||||||||||||||||||||
-->Principal Edge Network - Dallas Ft. Worth, Inc.*# | Delaware | 100 | ||||||||||||||||||||||
-->Principal
National Life Insurance Company+# | Iowa | 100 | ||||||||||||||||||||||
-->Diversified Dental Services, Inc.*# | Nevada | 100 | ||||||||||||||||||||||
-->Morley
Financial Services, Inc. *# | Oregon | 100 | ||||||||||||||||||||||
-->Morley Capital Management, Inc.*# | Oregon | 100 | ||||||||||||||||||||||
-->Union
Bond and Trust Company*# | Oregon | 100 | ||||||||||||||||||||||
-->Principal Investors Corporation*# | New Jersey | 100 | ||||||||||||||||||||||
+
Consolidated financial statements are filed with the SEC. | ||||||||||||||||||||||||
* Not required to file financial statements with the SEC. | ||||||||||||||||||||||||
# Included in
the consolidated financial statements of Principal Financial Group, Inc. filed with the SEC. | ||||||||||||||||||||||||
= Separate Financial statements are filed with SEC. | ||||||||||||||||||||||||
< Included in the financial statements of Principal Life Insurance Company filed with the SEC. |
(1) | (2) |
Number of | |
Title of Class | Contractowners |
BFA Variable Annuity Contracts | 36 |
Pension Builder Contracts | 71 |
Personal
Variable Contracts | 13 |
Premier Variable Contracts | 27 |
Flexible Variable Annuity Contract | 22,365 |
Freedom Variable Annuity Contract | 943 |
Freedom 2 Variable Annuity Contract | 279 |
Investment Plus Variable Annuity Contract | 51,935 |
Principal
Lifetime Income Solutions | 822 |
Principal Pivot Series Variable Annuity | N/A |
(b1) | (b2) |
Name and principal | Positions and offices |
business address | with principal underwriter |
Deborah
J. Barnhart | Director/Distribution (PPN) |
The Principal Financial Group(1) | |
Patricia A. Barry | Assistant Corporate Secretary |
The Principal Financial Group(1) | |
Michael
J. Beer | President and Director |
The Principal Financial Group(1) | |
Tracy W. Bollin | Chief Financial Officer |
The Principal Financial Group(1) | |
David
J. Brown | Senior Vice President |
The Principal Financial Group(1) |
(b1) | (b2) |
Name and principal | Positions
and offices |
business address | with principal underwriter |
Teresa M. Button | Vice President and Treasurer |
The Principal Financial Group(1) | |
Karen E. Shaff | Executive
Vice President/General Counsel/Corporate Secretary |
The Principal Financial Group(1) | |
Nicholas M. Cecere | Senior Vice President and Director |
The Principal Financial Group(1) | |
Gregory
B. Elming | Director |
The Principal Financial Group(1) | |
Nora M. Everett | Chairman and Chief Executive Officer |
The Principal Financial Group(1) | |
Stephen
G. Gallaher | Assistant General Counsel/Assistant Corporate Secretary |
The Principal Financial Group(1) | |
Curtis Hollebrands | AML Officer |
The Principal Financial Group(1) | |
Patrick
A. Kirchner | Assistant General Counsel |
The Principal Financial Group(1) | |
Julie LeClere | Senior Vice President/Managing Director |
The Principal Financial Group(1) | |
Martin
R. Richardson | Vice President - Broker Dealer Operations |
The Principal Financial Group(1) | |
Traci L. Weldon | Vice President/Chief Compliance Officer |
The Principal Financial Group(1) | |
Dan
L. Westholm | Assistant Vice President - Treasury |
The Principal Financial Group(1) | |
John Wetherell | Private Funds CCO - Princor |
The Principal Financial Group(1) | |
(1) 655
9th Street | |
(1) Name of Principal
Underwriter | (2) Net Underwriting Discounts & Commissions | (3) Compensation on Events Occasioning the Deduction of a Deferred Sales Load | (4) Brokerage Commissions | (5) Compensation |
Princor Financial Services Corporation | $46,651,728.39 | 0 | 0 | 0 |
1. | Registrant has included appropriate disclosure regarding the redemption restrictions imposed by Section 403(b)(11) in its registration statement, including the prospectus, used in connection with the offer of the contract; |
2. | Registrant
will include appropriate disclosure regarding the redemption restrictions imposed by Section 403(b)(11) in any sales literature used in connection with the offer of the contract; |
3. | Registrant will instruct sales representatives who solicit Plan Participants to purchase the contract specifically to bring the redemption restrictions imposed by Section 403(b)(11) to the attention of the potential Plan Participants; and |
4. | Registrant
will obtain from each Plan Participant who purchases a Section 403(b) annuity contract, prior to or at the time of such purchase, a signed statement acknowledging the Plan Participant's understanding of (a) the restrictions on redemption imposed by Section 403(b)(11), and (b) the investment alternatives available under the employer's Section 403(b) arrangement, to which the Plan Participant may elect to transfer his contract value. |
PRINCIPAL LIFE INSURANCE COMPANY | |||
SEPARATE ACCOUNT
B | |||
(Registrant) | |||
By : | /s/ L.
D. Zimpleman | ||
Chairman, President and Chief Executive Officer | |||
PRINCIPAL
LIFE INSURANCE COMPANY | |||
(Depositor) | |||
By : | /s/ L.
D. Zimpleman | ||
Chairman of the Board | |||
Chairman, President and Chief Executive Officer | |||
Attest: | |||
/s/
Clint Woods | |||
Assistant Corporate Secretary and Governance Officer |
Signature | Title | Date |
/s/ L. D. Zimpleman | ||
Chairman of the Board | ||
Chairman, President | ||
and Chief Executive Officer | ||
/s/
A. R. Sanders | ||
Senior Vice President and | ||
Controller | ||
(Principal
Accounting Officer) | ||
/s/ T. J. Lillis | ||
Executive Vice President | ||
and
Chief Financial Officer | ||
(Principal Financial Officer) | ||
(B. J. Bernard)* | Director | |
B. J. Bernard | ||
(J.
Carter-Miller)* | Director | |
J. Carter-Miller | ||
(G. E. Costley)* | Director | |
G.
E. Costley | ||
(M.T. Dan)* | Director | |
M. T. Dan | ||
(D.
H. Ferro)* | Director | |
D. H. Ferro | ||
(C. D. Gelatt, Jr.)* | Director | |
C.
D. Gelatt, Jr. | ||
(S. L. Helton)* | Director | |
S. L. Helton | ||
(R.
L. Keyser)* | Director | |
R. L. Keyser | ||
(L. Maestri)* | Director | |
L.
Maestri | ||
(E. E. Tallett)* | Director | |
E. E. Tallett | ||
*By | /s/
L. D. Zimpleman | |
Chairman of the Board | ||
Chairman, President and Chief Executive Officer | ||
* | Pursuant
to Powers of Attorney | |
This ‘N-4/A’ Filing | Date | Other Filings | ||
---|---|---|---|---|
3/1/24 | ||||
2/5/16 | ||||
2/4/16 | ||||
4/30/15 | 485BPOS, CORRESP | |||
2/5/15 | ||||
1/1/15 | ||||
Filed on: | 10/9/14 | CORRESP | ||
10/7/14 | N-4/A | |||
9/30/14 | ||||
9/15/14 | CORRESP, N-4/A | |||
7/2/14 | N-4 | |||
5/1/14 | 485BPOS | |||
4/30/14 | ||||
3/24/14 | ||||
3/1/14 | ||||
1/30/14 | ||||
1/24/14 | ||||
1/21/14 | ||||
1/1/14 | ||||
12/31/13 | 24F-2NT, 485BPOS, NSAR-U | |||
12/2/13 | ||||
10/7/13 | ||||
8/29/13 | ||||
8/1/13 | 485BPOS, EFFECT | |||
5/20/13 | ||||
2/13/13 | ||||
1/1/13 | ||||
12/31/12 | 24F-2NT, NSAR-U | |||
5/21/12 | ||||
4/27/12 | 485APOS | |||
1/1/12 | ||||
12/31/11 | 24F-2NT, NSAR-U, NSAR-U/A | |||
7/12/11 | ||||
7/1/11 | ||||
6/13/11 | ||||
1/1/11 | ||||
12/31/10 | 24F-2NT, NSAR-U | |||
9/30/10 | ||||
5/24/10 | ||||
3/1/10 | 485APOS, NSAR-U | |||
1/4/10 | ||||
1/1/10 | ||||
12/31/09 | 24F-2NT, 485APOS, NSAR-U | |||
12/4/09 | ||||
12/2/09 | ||||
7/1/09 | ||||
5/18/09 | ||||
9/26/08 | ||||
5/2/08 | 485BPOS, EFFECT | |||
5/1/08 | 485BPOS, EFFECT | |||
12/31/06 | 24F-2NT, NSAR-U | |||
11/8/06 | ||||
1/1/06 | ||||
12/31/05 | 24F-2NT, NSAR-U | |||
5/17/05 | ||||
12/8/03 | ||||
1/1/02 | ||||
12/31/01 | 24F-2NT, NSAR-U | |||
7/1/00 | ||||
3/10/94 | ||||
List all Filings |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 4/27/23 Principal Life Ins Co. Sep Acct B 485BPOS 5/01/23 15:21M 4/28/22 Principal Life Ins Co. Sep Acct B 485BPOS 5/01/22 6:16M 4/29/21 Principal Life Ins Co. Sep Acct B 485BPOS 5/01/21 6:18M |