Principal Financial Group reported first quarter 2015 earnings. While operating earnings grew 16% over the last twelve months, the company faced macroeconomic pressures. Several metrics demonstrated strong performance, including return on equity of 14.0% and 85% of investment options in the top half of Morningstar rankings. Total assets under management reached a record $530 billion, up from $173 billion a year ago. The earnings call highlighted continued strong investment performance, operational excellence in areas like client satisfaction, and new product innovations. Normalized earnings per share grew 5% compared to the first quarter of 2014.
Principal Financial Group reported strong second quarter 2015 earnings, with operating earnings up 11% year-over-year on a trailing twelve month basis. Key highlights included record assets under management of $540 billion, driven by $8.2 billion of net cash flows in the quarter. 87% of investment options were in the top two Morningstar quartiles over 1- and 3-year periods. The company also announced capital deployment for the year would be at the upper end of the $800 million to $1 billion range.
Principal Financial Group reported third quarter 2015 earnings. Non-GAAP financial measures are used to illustrate ongoing operations and are reconciled to GAAP measures. Strong investment performance continued with 86% of funds in the top two Morningstar quartiles. Normalized operating earnings were $1.04 per share after adjusting for assumption reviews and asset impairments. Business segments like retirement services and Principal International reported earnings growth on both a reported and currency-adjusted basis.
Principal Financial Group reported strong financial results for the fourth quarter of 2014 and full year. Operating earnings per share increased 14% year-over-year for the quarter and normalized earnings per share grew 11%. For the full year, normalized EPS increased 15%. Business segments such as Retirement and Investor Services, Principal Global Investors, and Principal International experienced revenue growth and margin expansion over the trailing twelve months. Capital deployment in 2014 totaled $855 million, more than 75% of net income, and similar levels of capital return are expected in 2015.
The document summarizes Principal Financial Group's fourth quarter 2013 earnings call. It provides non-GAAP financial measures to help investors evaluate performance. All business segments saw increased revenue and earnings compared to fourth quarter 2012. Principal Global Investors saw strong performance fees while Principal International had favorable returns, offset by tax law changes. The company deployed over $480 million in 2013 through dividends, share repurchases, and acquisitions and expects $500-700 million in deployment in 2014.
This document summarizes the key points from Principal Financial Group's third quarter 2014 earnings call. It discusses Principal's continued strong financial performance, including record operating earnings of $354 million. It highlights the continued execution across Principal's business segments, including strong investment performance, net cash flows, and returns. The document also provides an overview of Principal's capital deployment activities and upcoming investor events.
This document provides a summary of Principal Financial Group's fourth quarter 2016 earnings call. It discusses strong financial results including record quarterly and annual after-tax operating earnings. Several business segments saw growth in assets under management, net cash flows, sales, and pre-tax operating earnings. The company also deployed capital through dividends, share repurchases, and debt restructuring to enhance financial flexibility and shareholder value. Non-GAAP reconciliations are provided in an appendix.
Principal Financial Group reported strong second quarter 2014 earnings. Some key points:
- Record total company operating earnings were up 19% over second quarter 2013.
- Approximately 90% of investment options are in the top half of Morningstar rankings over 3 and 5 years.
- Assets under management surpassed $518 billion, a record high.
- International operations grew operating earnings by 13% on a normalized local currency basis.
- The company continued strong capital deployment including a 31% increased dividend and $61 million in share repurchases in the quarter.
This document summarizes Principal Financial Group's fourth quarter 2018 earnings results. It provides key financial metrics including record full year 2018 non-GAAP operating earnings of $1.6 billion, up 8% over the prior year. It discusses significant variances that impacted 4Q18 results, including higher DAC amortization from equity market performance and lower than expected performance in Brazil. The document also provides details on the company's investment performance, asset management business results, and retirement and income solutions business results.
Principal Financial Group reported strong second quarter 2015 earnings, with operating earnings up 11% year-over-year on a trailing twelve month basis. Key highlights included record assets under management of $540 billion, driven by $8.2 billion of net cash flows in the quarter. 87% of investment options were in the top two Morningstar quartiles over 1- and 3-year periods. The company also announced capital deployment for the year would be at the upper end of the $800 million to $1 billion range.
Principal Financial Group reported third quarter 2015 earnings. Non-GAAP financial measures are used to illustrate ongoing operations and are reconciled to GAAP measures. Strong investment performance continued with 86% of funds in the top two Morningstar quartiles. Normalized operating earnings were $1.04 per share after adjusting for assumption reviews and asset impairments. Business segments like retirement services and Principal International reported earnings growth on both a reported and currency-adjusted basis.
Principal Financial Group reported strong financial results for the fourth quarter of 2014 and full year. Operating earnings per share increased 14% year-over-year for the quarter and normalized earnings per share grew 11%. For the full year, normalized EPS increased 15%. Business segments such as Retirement and Investor Services, Principal Global Investors, and Principal International experienced revenue growth and margin expansion over the trailing twelve months. Capital deployment in 2014 totaled $855 million, more than 75% of net income, and similar levels of capital return are expected in 2015.
The document summarizes Principal Financial Group's fourth quarter 2013 earnings call. It provides non-GAAP financial measures to help investors evaluate performance. All business segments saw increased revenue and earnings compared to fourth quarter 2012. Principal Global Investors saw strong performance fees while Principal International had favorable returns, offset by tax law changes. The company deployed over $480 million in 2013 through dividends, share repurchases, and acquisitions and expects $500-700 million in deployment in 2014.
This document summarizes the key points from Principal Financial Group's third quarter 2014 earnings call. It discusses Principal's continued strong financial performance, including record operating earnings of $354 million. It highlights the continued execution across Principal's business segments, including strong investment performance, net cash flows, and returns. The document also provides an overview of Principal's capital deployment activities and upcoming investor events.
This document provides a summary of Principal Financial Group's fourth quarter 2016 earnings call. It discusses strong financial results including record quarterly and annual after-tax operating earnings. Several business segments saw growth in assets under management, net cash flows, sales, and pre-tax operating earnings. The company also deployed capital through dividends, share repurchases, and debt restructuring to enhance financial flexibility and shareholder value. Non-GAAP reconciliations are provided in an appendix.
Principal Financial Group reported strong second quarter 2014 earnings. Some key points:
- Record total company operating earnings were up 19% over second quarter 2013.
- Approximately 90% of investment options are in the top half of Morningstar rankings over 3 and 5 years.
- Assets under management surpassed $518 billion, a record high.
- International operations grew operating earnings by 13% on a normalized local currency basis.
- The company continued strong capital deployment including a 31% increased dividend and $61 million in share repurchases in the quarter.
This document summarizes Principal Financial Group's fourth quarter 2018 earnings results. It provides key financial metrics including record full year 2018 non-GAAP operating earnings of $1.6 billion, up 8% over the prior year. It discusses significant variances that impacted 4Q18 results, including higher DAC amortization from equity market performance and lower than expected performance in Brazil. The document also provides details on the company's investment performance, asset management business results, and retirement and income solutions business results.
The document provides an earnings summary for Principal Financial Group for the first quarter of 2018. Some key highlights include:
- Record quarterly non-GAAP operating earnings of $409 million and earnings per share of $1.40.
- Record assets under management of $674 billion despite $1.5 billion in net cash outflows.
- The company deployed $410 million in capital through share repurchases, dividends, and mergers and acquisitions.
- Business segments like Retirement and Income Solutions, Principal Global Investors, and Principal International saw increased revenues and earnings compared to the prior year quarter.
This document summarizes Principal Financial Group's earnings results for the first quarter of 2017. It discusses strong investment performance across funds, with over 80% in the top two Morningstar quartiles. It also discusses positive results in key business segments like Retirement and Income Solutions and Principal Global Investors, with revenue growth, strong cash flows, and continued strong investment returns. The document emphasizes that Principal is executing on its strategy to deliver sustainable, profitable growth through its diversified businesses.
This document provides key information from Principal Financial Group's second quarter 2016 earnings call:
- Principal reported its second highest quarterly after-tax operating earnings on record.
- Over 90% of Principal's investment options are in the top two Morningstar quartiles over three and five years.
- Principal continues to generate capital that it deploys to create shareholder value through dividends, share repurchases, and ownership in its boutiques.
- Principal's diversified business model positions it for long-term growth.
Principal Financial Group is a 136-year-old Fortune 500 company that provides retirement and investment services, asset management, and insurance solutions. It has $516 billion in assets under management from its divisions, which include Retirement and Investor Services, Principal Global Investors, Principal International, and U.S. Insurance Solutions. The company uses non-GAAP measures to evaluate performance alongside GAAP, and provides reconciliations between the two. It operates globally and has over 20 million customers.
- Principal Financial Group reported third quarter 2019 non-GAAP operating earnings of $345 million and earnings per share of $1.23.
- Results were impacted by an annual actuarial assumption review that lowered earnings by $39.8 million across business units. Higher expenses also lowered earnings by $10.7 million.
- The acquisition of Wells Fargo's retirement business closed on July 1st, adding $876 billion in assets under administration. Integration is on track.
Principal Financial Group reported earnings results for the fourth quarter of 2017. While 2017 was a strong year overall with record non-GAAP operating earnings of $1.5 billion, fourth quarter results declined from the prior year quarter. The tax cuts and Jobs Act resulted in a $568 million benefit to net income. For 2018, the company expects to deploy $900 million to $1.3 billion of capital and announced an increase to the first quarter common stock dividend.
This document provides a summary of Principal Financial Group's second quarter 2013 earnings call. It discusses the use of non-GAAP financial measures to evaluate performance alongside GAAP measures. The company uses non-GAAP measures to illustrate normal ongoing operations, but also provides reconciliations to GAAP measures. It notes strong investment performance across many of its mutual funds and separate accounts. The document also summarizes key points regarding the company's accumulation and guaranteed retirement businesses, noting growth in net revenue and operating earnings for both segments compared to the prior year.
Principal Financial Group reported its second quarter 2019 earnings results. Some key highlights included:
- Non-GAAP operating earnings of $427M, up 9% from the second quarter of 2018.
- Record assets under management of $696B for the company.
- The company continued to deploy capital through acquisitions totaling $1.2B and common stock dividends of $150M in the second quarter.
- For the third quarter of 2019, the company announced a common stock dividend of $0.55 per share, a 4% increase over the third quarter of 2018.
This document provides an overview and summary of Principal Financial Group's third quarter 2016 earnings call. It discusses several key themes from the call, including strong investment performance across many of Principal's investment options, record assets under management, and continued growth in earnings and revenues despite accounting for significant variances. Business segments such as Retirement and Income Solutions, Principal Global Investors, and Specialty Benefits saw increases in revenues and earnings on both a reported and adjusted basis. Principal also continued deploying capital through dividends and share repurchases.
The document summarizes Principal Financial Group's third quarter 2017 earnings results. Some key points:
- Operating earnings were $374 million and operating EPS was $1.28. Excluding significant variances, EPS increased 16% year-over-year to $1.42.
- Assets under management reached a record $656 billion, with $5 billion in net cash flows during the quarter.
- 88% of investment options were in the top two Morningstar quartiles over five years.
- The company continued returning capital to shareholders through dividends and share repurchases.
- Principal Financial Group reported strong third quarter 2013 earnings results, with operating earnings per share of $0.90.
- The company uses non-GAAP measures to evaluate performance in addition to GAAP measures, and provides reconciliations between the two.
- Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from expectations.
- Key metrics showed strong investment performance across mutual funds and separate accounts, with over 80% in the top two quartiles over various periods.
The document discusses Principal Financial Group's use of non-GAAP financial measures in its financial reporting. It states that the company uses several non-GAAP measures that management believes are useful for investors to evaluate performance, but notes they are not a substitute for GAAP measures. The company provides reconciliations of non-GAAP measures to the most directly comparable GAAP measures. It also notes some operational measures used that do not qualify as non-GAAP financial measures.
- The document discusses Aimia's Q1 2016 highlights and financial results. It provides forward-looking statements and cautions that actual results may differ materially from expectations.
- Gross billings decreased 3.7% to $573.0 million due to lost contracts, lower reward fulfillment activity, and wind downs, partially offset by new client wins. Adjusted EBITDA was $50.6 million.
- Key highlights included stability in Aeroplan's financial cards business, a new ISS win with Aeon Retail, and progress on Aimia's operating cost reduction initiatives.
- Principal Financial Group reported first quarter 2019 earnings results on April 25, 2019
- Key highlights included non-GAAP operating earnings of $400 million and $1.43 per share, driven by better than expected equity market performance and higher actual versus expected encaje performance
- The company continued deploying capital through $150 million in common stock dividends and $130 million in share repurchases while announcing the planned acquisition of Wells Fargo's institutional retirement and trust business
This document provides highlights from Aimia's Q1 2017 results, including forward-looking statements about certain financial metrics for 2017. Such statements involve assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. It also contains non-GAAP financial measures and reconciliations to GAAP measures. The document cautions that the assumptions used to make forward-looking statements about 2017 may prove incorrect or inaccurate.
This document summarizes SemGroup's first quarter 2018 earnings conference call. It discusses SemGroup's non-GAAP financial measures of Adjusted EBITDA and Total Segment Profit, which exclude certain items to make performance more comparable between periods. The document also warns that non-GAAP measures have limitations and should not be considered in isolation as substitutes for GAAP measures. Additionally, the document contains forward-looking statements regarding SemGroup's 2018 operating budget, capital expenditures plan, and recent capital raising activities totaling around $800 million.
- Canadian Tire Corporation reported strong first quarter 2016 financial results, with consolidated revenue excluding petroleum increasing 4.3% and retail EBITDA rising 8.8%.
- Same store sales increased 1.0% at Canadian Tire, 7.6% at FGL Sports, and 0.8% at Mark's.
- Financial Services income before taxes was down 7.1% for the quarter due to lower loan growth and number of active accounts, though investments are aimed at driving growth in the second half of 2016.
- Higher income was reported at the Retail and CT REIT segments, though Financial Services income declined and expenses increased across segments.
The document discusses Principal Financial Group's use of non-GAAP financial measures to evaluate performance. It states that these measures are useful for investors to understand the company's normal operations, but are not a substitute for GAAP measures. The company provides reconciliations between non-GAAP and GAAP measures. Management also uses non-GAAP measures for goal setting and compensation. Certain operational measures like assets under management are not considered non-GAAP financial measures.
This document provides highlights from Aimia's Q4 2015 results and includes forward-looking statements about Aimia's financial metrics and performance in 2016. It cautions that Aimia's statements involve assumptions that may prove to be incorrect and do not account for special items or new transactions. It also defines several non-GAAP financial measures used by Aimia to evaluate performance and measure compliance with debt covenants.
This document summarizes Principal Financial Group's third quarter 2014 earnings call. It provides non-GAAP financial measures to help investors understand the company's normal ongoing operations. These measures are also used internally for goal setting and compensation. The document discusses strong investment performance across time periods. It highlights earnings and growth in different business segments, including retirement services, guaranteed income, Principal Global Investors, and international operations. Normalizing items are identified to show the underlying growth in operating earnings.
Principal Financial Group reported first quarter 2015 earnings. Operating earnings were up 3% year-over-year to $1.09 per share. Several business segments performed well. Retirement and Investor Services accumulation net revenue was up 7% over the past 12 months. Principal Global Investors revenue was up 1% over 12 months with record unaffiliated assets under management. Individual Life returned to expected claims experience. Specialty Benefits premiums and fees were up 9% over 12 months. Principal expects to deploy $800 million to $1 billion in capital in 2015 through dividends, share repurchases, and acquisitions.
Principal Financial Group uses non-GAAP financial measures to illustrate the performance of its normal, ongoing operations. These measures are consistent with what investors use to evaluate performance but are not a substitute for GAAP measures. Principal provides reconciliations of non-GAAP measures to the most directly comparable GAAP measure. It also uses some operational measures that do not have GAAP counterparts.
The document provides an earnings summary for Principal Financial Group for the first quarter of 2018. Some key highlights include:
- Record quarterly non-GAAP operating earnings of $409 million and earnings per share of $1.40.
- Record assets under management of $674 billion despite $1.5 billion in net cash outflows.
- The company deployed $410 million in capital through share repurchases, dividends, and mergers and acquisitions.
- Business segments like Retirement and Income Solutions, Principal Global Investors, and Principal International saw increased revenues and earnings compared to the prior year quarter.
This document summarizes Principal Financial Group's earnings results for the first quarter of 2017. It discusses strong investment performance across funds, with over 80% in the top two Morningstar quartiles. It also discusses positive results in key business segments like Retirement and Income Solutions and Principal Global Investors, with revenue growth, strong cash flows, and continued strong investment returns. The document emphasizes that Principal is executing on its strategy to deliver sustainable, profitable growth through its diversified businesses.
This document provides key information from Principal Financial Group's second quarter 2016 earnings call:
- Principal reported its second highest quarterly after-tax operating earnings on record.
- Over 90% of Principal's investment options are in the top two Morningstar quartiles over three and five years.
- Principal continues to generate capital that it deploys to create shareholder value through dividends, share repurchases, and ownership in its boutiques.
- Principal's diversified business model positions it for long-term growth.
Principal Financial Group is a 136-year-old Fortune 500 company that provides retirement and investment services, asset management, and insurance solutions. It has $516 billion in assets under management from its divisions, which include Retirement and Investor Services, Principal Global Investors, Principal International, and U.S. Insurance Solutions. The company uses non-GAAP measures to evaluate performance alongside GAAP, and provides reconciliations between the two. It operates globally and has over 20 million customers.
- Principal Financial Group reported third quarter 2019 non-GAAP operating earnings of $345 million and earnings per share of $1.23.
- Results were impacted by an annual actuarial assumption review that lowered earnings by $39.8 million across business units. Higher expenses also lowered earnings by $10.7 million.
- The acquisition of Wells Fargo's retirement business closed on July 1st, adding $876 billion in assets under administration. Integration is on track.
Principal Financial Group reported earnings results for the fourth quarter of 2017. While 2017 was a strong year overall with record non-GAAP operating earnings of $1.5 billion, fourth quarter results declined from the prior year quarter. The tax cuts and Jobs Act resulted in a $568 million benefit to net income. For 2018, the company expects to deploy $900 million to $1.3 billion of capital and announced an increase to the first quarter common stock dividend.
This document provides a summary of Principal Financial Group's second quarter 2013 earnings call. It discusses the use of non-GAAP financial measures to evaluate performance alongside GAAP measures. The company uses non-GAAP measures to illustrate normal ongoing operations, but also provides reconciliations to GAAP measures. It notes strong investment performance across many of its mutual funds and separate accounts. The document also summarizes key points regarding the company's accumulation and guaranteed retirement businesses, noting growth in net revenue and operating earnings for both segments compared to the prior year.
Principal Financial Group reported its second quarter 2019 earnings results. Some key highlights included:
- Non-GAAP operating earnings of $427M, up 9% from the second quarter of 2018.
- Record assets under management of $696B for the company.
- The company continued to deploy capital through acquisitions totaling $1.2B and common stock dividends of $150M in the second quarter.
- For the third quarter of 2019, the company announced a common stock dividend of $0.55 per share, a 4% increase over the third quarter of 2018.
This document provides an overview and summary of Principal Financial Group's third quarter 2016 earnings call. It discusses several key themes from the call, including strong investment performance across many of Principal's investment options, record assets under management, and continued growth in earnings and revenues despite accounting for significant variances. Business segments such as Retirement and Income Solutions, Principal Global Investors, and Specialty Benefits saw increases in revenues and earnings on both a reported and adjusted basis. Principal also continued deploying capital through dividends and share repurchases.
The document summarizes Principal Financial Group's third quarter 2017 earnings results. Some key points:
- Operating earnings were $374 million and operating EPS was $1.28. Excluding significant variances, EPS increased 16% year-over-year to $1.42.
- Assets under management reached a record $656 billion, with $5 billion in net cash flows during the quarter.
- 88% of investment options were in the top two Morningstar quartiles over five years.
- The company continued returning capital to shareholders through dividends and share repurchases.
- Principal Financial Group reported strong third quarter 2013 earnings results, with operating earnings per share of $0.90.
- The company uses non-GAAP measures to evaluate performance in addition to GAAP measures, and provides reconciliations between the two.
- Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from expectations.
- Key metrics showed strong investment performance across mutual funds and separate accounts, with over 80% in the top two quartiles over various periods.
The document discusses Principal Financial Group's use of non-GAAP financial measures in its financial reporting. It states that the company uses several non-GAAP measures that management believes are useful for investors to evaluate performance, but notes they are not a substitute for GAAP measures. The company provides reconciliations of non-GAAP measures to the most directly comparable GAAP measures. It also notes some operational measures used that do not qualify as non-GAAP financial measures.
- The document discusses Aimia's Q1 2016 highlights and financial results. It provides forward-looking statements and cautions that actual results may differ materially from expectations.
- Gross billings decreased 3.7% to $573.0 million due to lost contracts, lower reward fulfillment activity, and wind downs, partially offset by new client wins. Adjusted EBITDA was $50.6 million.
- Key highlights included stability in Aeroplan's financial cards business, a new ISS win with Aeon Retail, and progress on Aimia's operating cost reduction initiatives.
- Principal Financial Group reported first quarter 2019 earnings results on April 25, 2019
- Key highlights included non-GAAP operating earnings of $400 million and $1.43 per share, driven by better than expected equity market performance and higher actual versus expected encaje performance
- The company continued deploying capital through $150 million in common stock dividends and $130 million in share repurchases while announcing the planned acquisition of Wells Fargo's institutional retirement and trust business
This document provides highlights from Aimia's Q1 2017 results, including forward-looking statements about certain financial metrics for 2017. Such statements involve assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. It also contains non-GAAP financial measures and reconciliations to GAAP measures. The document cautions that the assumptions used to make forward-looking statements about 2017 may prove incorrect or inaccurate.
This document summarizes SemGroup's first quarter 2018 earnings conference call. It discusses SemGroup's non-GAAP financial measures of Adjusted EBITDA and Total Segment Profit, which exclude certain items to make performance more comparable between periods. The document also warns that non-GAAP measures have limitations and should not be considered in isolation as substitutes for GAAP measures. Additionally, the document contains forward-looking statements regarding SemGroup's 2018 operating budget, capital expenditures plan, and recent capital raising activities totaling around $800 million.
- Canadian Tire Corporation reported strong first quarter 2016 financial results, with consolidated revenue excluding petroleum increasing 4.3% and retail EBITDA rising 8.8%.
- Same store sales increased 1.0% at Canadian Tire, 7.6% at FGL Sports, and 0.8% at Mark's.
- Financial Services income before taxes was down 7.1% for the quarter due to lower loan growth and number of active accounts, though investments are aimed at driving growth in the second half of 2016.
- Higher income was reported at the Retail and CT REIT segments, though Financial Services income declined and expenses increased across segments.
The document discusses Principal Financial Group's use of non-GAAP financial measures to evaluate performance. It states that these measures are useful for investors to understand the company's normal operations, but are not a substitute for GAAP measures. The company provides reconciliations between non-GAAP and GAAP measures. Management also uses non-GAAP measures for goal setting and compensation. Certain operational measures like assets under management are not considered non-GAAP financial measures.
This document provides highlights from Aimia's Q4 2015 results and includes forward-looking statements about Aimia's financial metrics and performance in 2016. It cautions that Aimia's statements involve assumptions that may prove to be incorrect and do not account for special items or new transactions. It also defines several non-GAAP financial measures used by Aimia to evaluate performance and measure compliance with debt covenants.
This document summarizes Principal Financial Group's third quarter 2014 earnings call. It provides non-GAAP financial measures to help investors understand the company's normal ongoing operations. These measures are also used internally for goal setting and compensation. The document discusses strong investment performance across time periods. It highlights earnings and growth in different business segments, including retirement services, guaranteed income, Principal Global Investors, and international operations. Normalizing items are identified to show the underlying growth in operating earnings.
Principal Financial Group reported first quarter 2015 earnings. Operating earnings were up 3% year-over-year to $1.09 per share. Several business segments performed well. Retirement and Investor Services accumulation net revenue was up 7% over the past 12 months. Principal Global Investors revenue was up 1% over 12 months with record unaffiliated assets under management. Individual Life returned to expected claims experience. Specialty Benefits premiums and fees were up 9% over 12 months. Principal expects to deploy $800 million to $1 billion in capital in 2015 through dividends, share repurchases, and acquisitions.
Principal Financial Group uses non-GAAP financial measures to illustrate the performance of its normal, ongoing operations. These measures are consistent with what investors use to evaluate performance but are not a substitute for GAAP measures. Principal provides reconciliations of non-GAAP measures to the most directly comparable GAAP measure. It also uses some operational measures that do not have GAAP counterparts.
The document discusses Principal Financial Group's use of non-GAAP financial measures to evaluate performance. It states that these measures are useful for investors to understand the company's normal operations, but are not a substitute for GAAP measures. The company provides reconciliations between non-GAAP and GAAP measures. Management also uses non-GAAP measures for goal setting and compensation. Certain operational measures like assets under management are not considered non-GAAP financial measures.
The document provides an overview of The Principal Financial Group, a Fortune 500 company that offers retirement savings, investment, and insurance solutions. It discusses the company's non-GAAP financial measures and reconciliations, organizational structure with business segments, global presence across 18 countries, and 135 year history of experience in the financial services industry. Forward-looking statements and associated risks are also included.
The document discusses Principal Financial Group's use of non-GAAP financial measures to evaluate performance. It states that these measures are useful for investors to understand the company's normal operations, but are not a substitute for GAAP measures. The company provides reconciliations between non-GAAP and GAAP measures. Management also uses non-GAAP measures for goal setting and compensation.
Principal Financial Group held an investor workshop on November 6, 2015 to discuss the company's strategy and integration of its retail and institutional investment platforms. Principal Global Investors manages $354 billion in assets across equity, fixed income, alternatives, and other asset classes through a global network of offices. The company aims to drive growth through top-tier investment performance, offering the right active strategies, and leveraging its multi-channel distribution network.
This document provides a summary of Principal Financial Group's fourth quarter 2015 earnings call. It discusses Principal's use of non-GAAP financial measures to evaluate performance alongside GAAP measures. The document also highlights themes from the earnings call, including strong investment performance, work on the Department of Labor regulation, and segment results for Retirement and Income Solutions and Principal Global Investors. Forward-looking statements are presented along with risks that may affect future performance.
This document summarizes Principal Financial Group's first quarter 2016 earnings call. Some key points:
- Outstanding investment performance with over 90% of investment options in the top two Morningstar quartiles.
- Record assets under management of $548 billion with $3.3 billion in net cash flows for the quarter.
- Deployed $196 million in capital through share repurchases and dividends. Announced an increase in the second quarter dividend.
- Underlying fundamentals remain strong despite macroeconomic headwinds.
Principal Financial Group reported strong financial results for the first quarter of 2014, with record total company operating earnings and assets under management. Several business segments saw improved performance, including Retirement and Investor Services which saw growth in net revenue and margins. Principal Global Investors also had solid results with record assets under management. Principal International reported record operating earnings despite some macroeconomic headwinds. The company deployed capital through dividends, share repurchases, and debt redemption and expects full-year capital deployment to be at the high end of its $500-700 million target range.
Principal Financial Group is a Fortune 500 company that has been in business for 134 years. It provides retirement savings, investment, and insurance solutions to 19.1 million customers worldwide. It uses non-GAAP financial measures to evaluate performance in addition to GAAP measures. While these non-GAAP measures are useful for investors, they are not a substitute for GAAP measures. Principal Financial Group has over $456 billion in assets under management across its four business segments and has an experienced management team led by its long-tenured CEO.
This document discusses LPL Financial's business opportunity and provides forward-looking statements and notices about non-GAAP financial measures. It highlights that LPL Financial is the leading financial services provider to independent advisors, RIAs, and financial institutions. Key messages are that LPL Financial's differentiated value proposition drives advisor growth, the scale of its advisory and brokerage offerings provides flexibility to manage change, and its financial performance demonstrates business growth and earnings potential. The document contains cautionary language about forward-looking statements and defines non-GAAP financial measures including adjusted earnings and adjusted EBITDA.
This document provides an overview of SemGroup's non-GAAP financial measures and forward-looking statements. It discusses how SemGroup uses Adjusted EBITDA and Total Segment Profit to evaluate performance in addition to GAAP measures. It also notes that SemGroup's forward-looking statements are based on current expectations and are subject to risks and uncertainties. The document warns that actual results could differ materially from expectations.
This document provides an overview of SemGroup's non-GAAP financial measures and forward-looking statements. It summarizes SemGroup's 2017 results as a year of transition with the addition of stable refinery-facing assets and geographic diversification. It outlines 2018 as a year of executing the operating budget and strategic plan by streamlining operations and focusing on three high quality areas: Canada, Mid-Continent and Gulf Coast. The document also provides definitions of SemGroup's non-GAAP measures of Adjusted EBITDA and Total Segment Profit, which exclude certain items to improve comparability between reporting periods, and cautions that non-GAAP measures should not be considered in isolation.
Q3 2015 Canadian Tire Corporation Earnings Conference Call PresentationInvestorCanadianTire
The document summarizes Canadian Tire Corporation's third quarter 2015 financial results. It reports that consolidated revenue increased 5.3% excluding petroleum, and diluted EPS grew 20.5%. Same-store sales increased at Canadian Tire, FGL Sports, and decreased slightly at Mark's. Financial Services saw growth in credit card receivables but a decline in income before taxes. The quarter also saw a dividend increase and an intent to repurchase shares by the end of 2016.
This document provides an overview of SemGroup's non-GAAP financial measures and forward-looking statements. It defines Adjusted EBITDA and Total Segment Profit as non-GAAP measures used by management to evaluate performance that exclude certain items for comparability between periods. It also notes the limitations of non-GAAP measures and cautions readers. The document discloses risks to forward-looking statements and provides an overview of SemGroup's midstream assets in key regions.
SemGroup reported fourth quarter and full-year 2017 results. Key highlights include $111 million in Adjusted EBITDA for Q4 and $328 million for the full year. SemGroup also executed several strategic transactions including a $350 million preferred equity raise, selling its interest in Glass Mountain Pipeline for $300 million, and estimated proceeds of $140 million from selling SemMaterials Mexico and SemLogistics assets. SemGroup provided 2018 Adjusted EBITDA guidance of $385-$415 million and capital expenditures guidance of $40 million for maintenance spending.
- SemGroup reported a 40% increase in Adjusted EBITDA for the third quarter compared to the second quarter due to the Maurepas Pipeline becoming fully operational and the acquisition of HFOTCO commencing in mid-July.
- SemGroup's strategic focus is on growing EBITDA through increased secure cash flows from core geographic regions like Canada, the Mid-Continent region, and the Gulf Coast.
- SemGroup is making progress on raising the $600 million needed for the second payment for the HFOTCO acquisition, with plans to fully pay by the end of the first quarter of 2018 to capture an early payment discount, including through the sale of its interest in the Glass Mountain Pipeline for $
- SemGroup reported a 40% increase in Adjusted EBITDA for the third quarter compared to the second quarter due to the Maurepas Pipeline becoming fully operational and the acquisition of HFOTCO commencing in mid-July.
- SemGroup's strategic focus is on growing EBITDA through increased secure cash flows from core geographic regions like Canada, the Mid-Continent region, and the Gulf Coast.
- SemGroup is making progress on raising the $600 million needed for the second payment for the HFOTCO acquisition, with plans to fully pay by the end of the first quarter of 2018 to capture an early payment discount, including through the sale of its interest in the Glass Mountain Pipeline for $
This document provides a summary of Barnes Group Inc.'s earnings for the first quarter of 2015. Key points include:
- Sales were $301 million, down 4% due to negative foreign exchange impacts offsetting 3% organic sales growth.
- Adjusted operating income was $44.7 million, up 5%, and adjusted operating margin was 14.9%, up 120 basis points.
- Adjusted earnings per share were $0.53, up 6% from the previous year.
- Backlog was flat at $728 million overall but up 4% in aerospace.
- Full year 2015 guidance forecasts 1-3% sales growth and increases in operating margin, earnings per share, and cash conversion.
This document provides an overview of SemGroup's non-GAAP financial measures and forward-looking statements. It defines Adjusted EBITDA, Cash Available for Dividends, and Total Segment Profit as non-GAAP measures used by management to evaluate performance that exclude certain items affecting comparability between periods. It cautions that non-GAAP measures should not be considered in isolation or as substitutes for GAAP measures. The document also notes that forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from expectations.
Similar to First Quarter 2015 Earnings Call Presentation (12)
The document summarizes Principal Financial Group's third quarter 2018 earnings results. Some key points:
- Non-GAAP operating earnings were $481 million, down from the prior year primarily due to actuarial assumption changes and variable investment income.
- Assets under management totaled $668 billion. Net cash flows were $0.2 billion.
- Segments like Retirement and Income Solutions saw higher revenue offset by increased expenses including from digital investment. Fixed annuities and pension risk transfer sales remained strong.
- Principal Global Investors benefited from an accelerated real estate performance fee but also had elevated expenses.
The document provides financial results and highlights from Principal Financial Group's second quarter of 2018. Some key points include:
- Non-GAAP operating earnings of $391 million and earnings per share of $1.35.
- Assets under management of $667 billion despite $16 billion in foreign exchange headwinds.
- Business fundamentals remain strong, with continued capital deployment to create shareholder value through share repurchases, dividends, and mergers and acquisitions.
The document provides an agenda for an investor workshop on December 7, 2017. The agenda includes presentations on Principal's spread and risk businesses, capital management, and a panel Q&A session. It also includes forward-looking statements and discusses the use of non-GAAP financial measures.
Principal Financial Group reported second quarter 2017 earnings results. Some key highlights included:
- Record quarterly operating earnings of $384 million and record quarterly operating earnings per share of $1.31.
- Assets under management reached a record high of $629 billion, despite negative net cash flows in the second quarter.
- Over 80% of investment options performed in the top two Morningstar quartiles over three and five-year periods, demonstrating strong investment performance.
- The company continued to deploy capital through dividends, share repurchases, and increased ownership in a PGI boutique, while announcing a 15% increase to the third quarter dividend.
The document discusses Principal Financial Group's use of non-GAAP financial measures to evaluate performance. It states that these measures are useful to investors but are not a substitute for GAAP measures. It also notes that the company provides reconciliations of non-GAAP measures to the most directly comparable GAAP measures. The document also distinguishes non-GAAP measures from other operational measures used by the company that do not have GAAP counterparts.
The document discusses Principal Financial Group's use of non-GAAP financial measures to evaluate performance. It states that these measures are useful to investors because they illustrate the company's normal ongoing operations, but are not a substitute for GAAP measures. It also notes that the company provides reconciliations of non-GAAP measures to the most directly comparable GAAP measures. The document also distinguishes non-GAAP financial measures from other operational measures that do not have GAAP counterparts, such as assets under management.
The document discusses Principal Financial Group's use of non-GAAP financial measures to evaluate performance. It states that these measures are useful to investors as they illustrate normal ongoing operations, but are not substitutes for GAAP measures. It also notes that the company provides reconciliations of non-GAAP measures to the most directly comparable GAAP measures. The document also distinguishes non-GAAP financial measures from other operational measures that do not have GAAP counterparts, like assets under management.
Methanex is the world's largest producer and supplier of methanol. We create value through our leadership in the global production, marketing and delivery of methanol to customers. View our latest Investor Presentation for more details.
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2. Use of Non-GAAP Financial Measures
2 Posted on PFG website: 04/24/2015
A non-GAAP financial measure is a numerical measure of performance, financial position, or cash flows that
includes adjustments from a comparable financial measure presented in accordance with U.S. GAAP.
The company uses a number of non-GAAP financial measures that management believes are useful to investors
because they illustrate the performance of the company’s normal, ongoing operations which is important in
understanding and evaluating the company’s financial condition and results of operations. While such measures
are also consistent with measures utilized by investors to evaluate performance, they are not, however, a
substitute for U.S. GAAP financial measures. Therefore, in our quarterly earnings release, the company has
provided reconciliations of the non-GAAP financial measures to the most directly comparable U.S. GAAP
financial measure. The company adjusts U.S. GAAP financial measures for items not directly related to ongoing
operations. However, it is possible these adjusting items have occurred in the past and could recur in future
reporting periods. Management also uses non-GAAP financial measures for goal setting, as a basis for
determining employee and senior management awards and compensation, and evaluating performance on a
basis comparable to that used by investors and securities analysts.
The company also uses a variety of other operational measures that do not have U.S. GAAP counterparts, and
therefore do not fit the definition of non-GAAP financial measures. Assets under management is an example of
an operational measure that is not considered a non-GAAP financial measure.
3. Forward Looking Statements
3
Certain statements made by the company which are not historical facts may be considered forward-looking statements,
including, without limitation, statements as to operating earnings, net income available to common stockholders, net
cash flows, realized and unrealized gains and losses, capital and liquidity positions, sales and earnings trends, and
management's beliefs, expectations, goals and opinions. The company does not undertake to update these statements,
which are based on a number of assumptions concerning future conditions that may ultimately prove to be inaccurate.
Future events and their effects on the company may not be those anticipated, and actual results may differ materially
from the results anticipated in these forward-looking statements. The risks, uncertainties and factors that could cause or
contribute to such material differences are discussed in the company's annual report on Form 10-K for the year ended
Dec. 31, 2014, filed by the company with the Securities and Exchange Commission, as updated or supplemented from
time to time in subsequent filings. These risks and uncertainties include, without limitation: adverse capital and credit
market conditions may significantly affect the company’s ability to meet liquidity needs, access to capital and cost of
capital; conditions in the global capital markets and the economy generally; continued volatility or declines in the equity,
bond or real estate markets; changes in interest rates or credit spreads; the company’s investment portfolio is subject to
several risks that may diminish the value of its invested assets and the investment returns credited to customers; the
company’s valuation of securities may include methodologies, estimations and assumptions that are subject to differing
interpretations; the determination of the amount of allowances and impairments taken on the company’s investments
requires estimations and assumptions that are subject to differing interpretations; gross unrealized losses may be
realized or result in future impairments; competition from companies that may have greater financial resources, broader
arrays of products, higher ratings and stronger financial performance; a downgrade in the company’s financial strength
or credit ratings; inability to attract and retain sales representatives and develop new distribution sources; international
business risks; the company’s actual experience could differ significantly from its pricing and reserving assumptions; the
company’s ability to pay stockholder dividends and meet its obligations may be constrained by the limitations on
dividends or distributions Iowa insurance laws impose on Principal Life; the pattern of amortizing the company’s DAC
and other actuarial balances on its universal life-type insurance contracts, participating life insurance policies and certain
investment contracts may change; the company may need to fund deficiencies in its “Closed Block” assets that support
participating ordinary life insurance policies that had a dividend scale in force at the time of Principal Life’s 1998
conversion into a stock life insurance company; the company’s reinsurers could default on their obligations or increase
their rates; risks arising from acquisitions of businesses; changes in laws, regulations or accounting standards; a
computer system failure or security breach could disrupt the company’s business, and damage its reputation; results of
litigation and regulatory investigations; from time to time the company may become subject to tax audits, tax litigation or
similar proceedings, and as a result it may owe additional taxes, interest and penalties in amounts that may be material;
fluctuations in foreign currency exchange rates; and applicable laws and the company’s certificate of incorporation and
by-laws may discourage takeovers and business combinations that some stockholders might consider in their best
interests.
Posted on PFG website: 04/24/2015
4. 1Q15 Earnings Call Key Themes
Strong growth masked by macroeconomic pressures
• Strong 1st quarter; operating earnings up 16% on a TTM basis over the
year ago period
• Successful execution of our global diversified strategy despite
challenging macro conditions
• ROE of 14.0%, up 100 basis points from year ago quarter
• At least 85% of our investment options are in the top half of the
Morningstar rankings on a 1, 3 and 5-year-basis
• Total company net cash flow of $9.4B for the quarter leading to record
AUM of $530B
• Expected capital deployment of $800M - $1.0B in 2015
4 Posted on PFG website: 04/24/2015
5. 1Q15 Execution Excellence Highlights
• INVESTMENT AWARDS
– Barron’s Top 5 Fund Family (Principal Funds)
– Lipper award (Principal Global Real Estate Securities Fund)
– #1 AFP investment performance (Cuprum)
– Best 2014 and Best 3-year international equity portfolio manager for
FTSE Shariah World Developed (CPIAM joint venture, which sub-
advises to Principal Global Equities)
• OPERATIONS EXCELLENCE
– Recognized as one of the World’s Most Ethical Companies (2015)
by the Ethisphere Institute
– Outstanding client satisfaction (Chatham Partners client survey)
– Brasilprev #1 P/VGBL provider in Brazil
• PRODUCT & SERVICE INNOVATION
– 3 new funds: Principal Real Estate Debt Income; Principal Real
Estate Allocation; Principal Origin Emerging Market
– Qualified Longevity Annuity Contract (Deferred Income Annuity
enhancement)
5 Posted on PFG website: 04/24/2015
6. Strong Investment Performance Continues
Morningstar rankings of Principal mutual funds, separate accounts and CITs
Percentage of funds in the top two quartiles
70%
84% 83%
88%
85% 86%85%
89% 88%
1-Year 3-Year 5-Year
Mar. 31, 2014
Dec. 31, 2014
Mar. 31, 2015
Represents $173 billion assets under management of which 75% is managed by PGI boutiques
Principal “I” shares; if no “I” share class then “A” share class; separate accounts use “R6” rate level; Includes Principal mutual funds,
separate accounts and collective investment trusts (CITs); Excludes money market, stable value and U.S. Property separate account.
GOAL:
ABOVE
60%
6 Posted on PFG website: 04/24/2015
7. Per diluted share 1Q14 1Q15
Operating Earnings $1.06 $1.09 +3%
Normalizing items:
Retirement and Investor Services
Dividend accrual benefit in Full Service Accumulation (0.05) (0.02)
Higher variable investment income in RIS Guaranteed (0.02)
Transition of Self-Directed Account business to a 3rd
party in Bank & Trust (0.01)
Individual Life
Adverse mortality +0.01
Specialty Benefits
Recovery of reinsurance premiums partially offset by
higher expenses primarily from prior year true ups (0.01)
Total of normalizing items ($0.06) ($0.04)
Normalized Operating Earnings $1.00 $1.05 +5%
Operating Earnings Normalizing Items
After normalizing, 1Q15 EPS is up 5% compared to a year ago
7 Posted on PFG website: 04/24/2015
8. Retirement and Investor Services
Accumulation
628 649
0
100
200
300
400
500
600
700
1Q14 1Q15
Net Revenue ($m)
• Full Service Accumulation sales of $2.8B,
continue to balance growth & profitability
• Full Service Accumulation recurring deposits
were up 11% over 1Q14
• 21 consecutive quarters of positive net cash flow
in Principal Funds
On a trailing twelve month basis:
• Net revenue up 7%
• Pretax return on net revenue of 34%
8 Posted on PFG website: 04/24/2015
Operating
Earnings
After-tax
($m)
Operating
Earnings
Adjustment
($m)
Adjusted
Operating
Earnings
After-tax ($m)
1Q15 $186.2 -$9.0* $177.2
1Q14 $184.5 -$15.0* $169.5
Change $1.7 (+1%) $7.7 (+5%)
*Dividend accrual benefit in Full Service Accumulation in 1Q14 and 1Q15 and Bank and Trust self directed
accounts benefit in 1Q15
9. Retirement and Investor Services
Guaranteed
54
43
0
10
20
30
40
50
60
1Q14 1Q15
Net Revenue ($m)
On a trailing twelve month basis:
• Net revenue down 1%
• Pretax return on net revenue of 81%
9
• Full Service Payout pipeline remains
strong
• Continue to treat Investment Only and
Full Service Payout as opportunistic
Posted on PFG website: 04/24/2015
Operating
Earnings
After-tax
($m)
Operating
Earnings
Adjustment
($m)
Adjusted
Operating
Earnings
After-tax ($m)
1Q15 $24.7 -- $24.7
1Q14 $32.0 -$6.0* $26.0
Change -$7.3 (-23%) -$1.3 (-5%)
*Benefited from higher variable investment income in Investment Only and Full Service Payout.
10. Principal Global Investors
On a trailing twelve month basis:
• Revenue is up 1%
• Pretax margin of 26.6%
10
• Record AUM of $324B including record
unaffiliated AUM of $118B
• Strong unaffiliated net cash flows of
$3.2B
• Margin improvement as we build scale
Operating Earnings
After-tax ($m)
1Q15 $30.7
1Q14 $26.9
Change $3.8 (+14%)
Posted on PFG website: 04/24/2015
171
187
0
20
40
60
80
100
120
140
160
180
200
1Q14 1Q15
Revenue ($m)
11. 358
378
0
100
200
300
400
1Q14 1Q15
Combined* Net Revenue ($m)
• Continue to generate mid-teens OE growth
on an adjusted** local currency basis
• In 1Q15, slightly stronger than expected
encaje returns were offset by negative
impact from low inflation in Chile
• Net cash flow of $2.3B led by strong sales
in Brazil
• AUM of $111B is up 2% over 1Q14, despite
a $23B currency headwind
On a trailing twelve month combined basis:
• Net revenue is up 12% (22% on a local
currency basis)
• Pretax return on net revenue of 52%
*Combined basis includes all Principal International companies at 100%.
**Adjusted for 1Q15 low inflation in Chile.
11
Principal International
Posted on PFG website: 04/24/2015
Operating Earnings
After-tax ($m)
1Q15 $59.9
1Q14 $63.3
Change -$3.4 (-5%)
12. 235
248
0
50
100
150
200
250
300
1Q14 1Q15
Premium and Fees ($m)
Individual Life
• First quarter 2015 had a return to expected
claims experience
• Business market results remain strong at
63% of total sales in 1Q15On a trailing twelve month basis:
• Premium and fees up 5%
• Pretax operating margin of 19%
12
*Adverse mortality
Posted on PFG website: 04/24/2015
Operating
Earnings
After-tax
($m)
Operating
Earnings
Adjustment
($m)
Adjusted
Operating
Earnings
After-tax ($m)
1Q15 $25.5 -- $25.5
1Q14 $17.3 $4.0* $21.3
Change $8.2 (+47%) $4.2 (+20%)
13. 385
436
0
50
100
150
200
250
300
350
400
450
500
1Q14 1Q15
Premium and Fees ($m)
Reinsurance premium recovery
Specialty Benefits
• Strong sales and persistency leading to
adjusted premium and fees growth of 9%
• Trailing twelve month in-plan growth of
1.8%, highest since 2006
• Overall adjusted quarterly loss ratio of
65.8% is within the targeted range
On a trailing twelve month basis:
• Premium and fees up 9%
• Pretax operating margin of 11%
• Loss ratio of 64.5%
13 Posted on PFG website: 04/24/2015
Operating
Earnings
After-tax
($m)
Operating
Earnings
Adjustment
($m)
Adjusted
Operating
Earnings
After-tax ($m)
1Q15 $29.6 -$4.0* $25.6
1Q14 $26.1 -- $26.1
Change $3.5 (+13%) -$0.5 (-2%)
*Recovery of Individual Disability reinsurance premiums partially offset by higher expenses primarily from prior
year true-ups
14. Capital Deployment
• We expect to deploy $800M - $1.0B in 2015
• Have announced deployments of more than $700M as of 3/31/15
• $218M in common stock dividends
• Paid 1Q15 dividend of 36-cents per share
• Announced 2Q15 dividend of 38-cents per share,
a 6% increase from prior dividend
• $150M announced Board share repurchase authorization
• $335M for AXA’s Hong Kong pension business in second half 2015
• Long term: expect to deploy 65–70 percent of our net income with fluctuations
in any given year
14 Posted on PFG website: 04/24/2015