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Reporting Segments
 6 Months Ended
Jun. 30, 2017
Segment Reporting [Abstract]  
Reporting Segments
Reporting Segments
The following table shows the earnings contributions of Northern Trust’s reporting segments for the three- and six- month periods ended June 30, 2017 and 2016.
Table 51: Results of Reporting Segments
Three Months Ended June 30,
Corporate &
Institutional Services
 
Wealth
Management
 
Treasury and
Other
 
Total
Consolidated
($ In Millions)
2017
 
2016
 
2017
 
2016
 
2017
 
2016^
 
2017
 
2016^
Noninterest Income
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Trust, Investment and Other Servicing Fees
$
487.1

 
$
446.9

 
$
361.1

 
$
330.3

 
$
—

 
$
—

 
$
848.2

 
$
777.2

Foreign Exchange Trading Income
50.6

 
62.2

 
0.8

 
1.6

 
(1.5
)
 
0.6

 
49.9

 
64.4

Other Noninterest Income
44.4

 
25.9

 
26.7

 
26.7

 
10.5

 
122.8

 
81.6

 
175.4

Net Interest Income*
176.0

 
141.2

 
181.8

 
160.2

 
(7.4
)
 
5.2

 
350.4

 
306.6

Revenue*
758.1

 
676.2

 
570.4

 
518.8

 
1.6

 
128.6

 
1,330.1

 
1,323.6

Provision for Credit Losses
(2.7
)
 
(0.8
)
 
(4.3
)
 
(2.2
)
 
—

 
—

 
(7.0
)
 
(3.0
)
Noninterest Expense
545.6

 
556.8

 
350.9

 
330.3

 
40.9

 
37.9

 
937.4

 
925.0

Income before Income Taxes*
215.2

 
120.2

 
223.8

 
190.7

 
(39.3
)
 
90.7

 
399.7

 
401.6

Provision for Income Taxes*
67.7

 
34.0

 
84.3

 
71.9

 
(20.2
)
 
32.7

 
131.8

 
138.6

Net Income
$
147.5

 
$
86.2

 
$
139.5

 
$
118.8

 
$
(19.1
)
 
$
58.0

 
$
267.9

 
$
263.0

Percentage of Consolidated Net Income
55
%
 
33
%
 
52
%
 
45
%
 
(7
)%
 
22
%
 
100
%
 
100
%
Average Assets
$
80,584.0

 
$
75,696.5

 
$
26,823.5

 
$
26,736.6

 
$
10,993.2

 
$
12,480.7

 
$
118,400.7

 
$
114,913.8

* Non-GAAP financial measures stated on a fully taxable equivalent basis (FTE). Total consolidated includes FTE adjustments of $8.9 million for 2017 and $6.9 million for 2016.
^ The three months ended June 30, 2016 results have been adjusted to reflect the adoption of ASU No. 2016-09. Please refer to Note 1, “Basis of Presentation,” of the Notes to Consolidated Financial Statements for further discussion on the impact to the Corporation’s previously reported quarterly results.
Six Months Ended June 30,
Corporate &
Institutional Services
 
Wealth
Management
 
Treasury and
Other
 
Total
Consolidated
($ In Millions)
2017
 
2016
 
2017
 
2016
 
2017
 
2016^
 
2017
 
2016^
Noninterest Income
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Trust, Investment and Other Servicing Fees
$
950.0

 
$
880.3

 
$
706.4

 
$
645.1

 
$
—

 
$
—

 
$
1,656.4

 
$
1,525.4

Foreign Exchange Trading Income
99.7

 
113.9

 
1.7

 
6.1

 
(3.4
)
 
4.9

 
98.0

 
124.9

Other Noninterest Income
88.6

 
71.5

 
52.2

 
53.5

 
15.4

 
123.9

 
156.2

 
248.9

Net Interest Income*
342.5

 
279.6

 
358.8

 
318.7

 
11.5

 
22.3

 
712.8

 
620.6

Revenue*
1,480.8

 
1,345.3

 
1,119.1

 
1,023.4

 
23.5

 
151.1

 
2,623.4

 
2,519.8

Provision for Credit Losses
(2.4
)
 
(4.0
)
 
(5.6
)
 
3.0

 
—

 
—

 
(8.0
)
 
(1.0
)
Noninterest Expense
1,056.4

 
1,032.1

 
697.2

 
657.2

 
78.3

 
64.5

 
1,831.9

 
1,753.8

Income before Income Taxes*
426.8

 
317.2

 
427.5

 
363.2

 
(54.8
)
 
86.6

 
799.5

 
767.0

Provision for Income Taxes*
134.6

 
96.2

 
161.1

 
136.8

 
(40.2
)
 
25.6

 
255.5

 
258.6

Net Income
$
292.2

 
$
221.0

 
$
266.4

 
$
226.4

 
$
(14.6
)
 
$
61.0

 
$
544.0

 
$
508.4

Percentage of Consolidated Net Income
54
%
 
43
%
 
49
%
 
45
%
 
(3
)%
 
12
%
 
100
%
 
100
%
Average Assets
$
79,201.4

 
$
75,534.7

 
$
26,743.1

 
$
26,487.2

 
$
11,499.3

 
12,143.5

 
$
117,443.8

 
$
114,165.4


* Non-GAAP financial measures stated on a fully taxable equivalent basis (FTE). Total consolidated includes FTE adjustments of $17.8 million for 2017 and $13.1 million for 2016.
^ The six months ended June 30, 2016 results have been adjusted to reflect the adoption of ASU No. 2016-09. Please refer to Note 1, “Basis of Presentation,” of the Notes to Consolidated Financial Statements for further discussion on the impact to the Corporation’s previously reported results.

Further discussion of reporting segment results is provided within the “Reporting Segments” section of Management’s Discussion and Analysis of Financial Condition and Results of Operations.