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Reporting Segments
 9 Months Ended
Sep. 30, 2018
Segment Reporting [Abstract]  
Reporting Segments
Reporting Segments
The following table shows the earnings contributions of Northern Trust’s reporting segments for the three- and nine- month periods ended September 30, 2018 and 2017.
Table 53: Results of Reporting Segments
Three Months Ended September 30,
Corporate &
Institutional Services
 
Wealth
Management
 
Treasury and
Other
 
Total
Consolidated
($ In Millions)
2018
 
2017
 
2018
 
2017
 
2018
 
2017
 
2018
 
2017
Noninterest Income
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Trust, Investment and Other Servicing Fees
$
541.0

 
$
501.1

 
$
398.2

 
$
366.8

 
$
—

 
$
—

 
$
939.2

 
$
867.9

Foreign Exchange Trading Income
51.4

 
47.2

 
0.9

 
0.7

 
19.4

 
1.2

 
71.7

 
49.1

Other Noninterest Income
42.0

 
43.8

 
25.5

 
25.2

 
(12.3
)
 
5.0

 
55.2

 
74.0

Net Interest Income*
253.0

 
194.0

 
202.9

 
186.6

 
(37.4
)
 
(14.4
)
 
418.5

 
366.2

Revenue*
887.4

 
786.1

 
627.5

 
579.3

 
(30.3
)
 
(8.2
)
 
1,484.6

 
1,357.2

Provision for Credit Losses
(2.8
)
 
0.8

 
(6.2
)
 
(7.8
)
 
—

 
—

 
(9.0
)
 
(7.0
)
Noninterest Expense
601.0

 
542.1

 
362.0

 
348.8

 
39.3

 
44.7

 
1,002.3

 
935.6

Income before Income Taxes*
289.2

 
243.2

 
271.7

 
238.3

 
(69.6
)
 
(52.9
)
 
491.3

 
428.6

Provision for Income Taxes*
66.1

 
78.4

 
67.2

 
90.3

 
(16.5
)
 
(38.5
)
 
116.8

 
130.2

Net Income
$
223.1

 
$
164.8

 
$
204.5

 
$
148.0

 
$
(53.1
)
 
$
(14.4
)
 
$
374.5

 
$
298.4

Percentage of Consolidated Net Income
59
%
 
55
%
 
55
%
 
50
%
 
(14
)%
 
(5
)%
 
100
%
 
100
%
Average Assets
$
83,360.6

 
$
82,250.9

 
$
26,110.5

 
$
26,463.0

 
$
12,684.5

 
$
12,445.5

 
$
122,155.6

 
$
121,159.4

* Non-GAAP financial measures stated on a fully taxable equivalent basis (FTE). Total consolidated includes FTE adjustments of $10.3 million for 2018 and $12.0 million for 2017.
Nine Months Ended September 30,
Corporate &
Institutional Services
 
Wealth
Management
 
Treasury and
Other
 
Total
Consolidated
($ In Millions)
2018
 
2017
 
2018
 
2017
 
2018
 
2017
 
2018
 
2017
Noninterest Income
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Trust, Investment and Other Servicing Fees
$
1,637.5

 
$
1,451.1

 
$
1,182.3

 
$
1,073.2

 
$
—

 
$
—

 
$
2,819.8

 
$
2,524.3

Foreign Exchange Trading Income
173.9

 
146.9

 
3.1

 
2.4

 
52.1

 
(2.2
)
 
229.1

 
147.1

Other Noninterest Income
133.6

 
132.4

 
77.9

 
77.4

 
(9.5
)
 
20.4

 
202.0

 
230.2

Net Interest Income*
730.3

 
536.5

 
611.3

 
545.4

 
(107.8
)
 
(2.9
)
 
1,233.8

 
1,079.0

Revenue*
2,675.3

 
2,266.9

 
1,874.6

 
1,698.4

 
(65.2
)
 
15.3

 
4,484.7

 
3,980.6

Provision for Credit Losses
(3.7
)
 
(1.6
)
 
(6.8
)
 
(13.4
)
 
—

 
—

 
(10.5
)
 
(15.0
)
Noninterest Expense
1,785.9

 
1,598.5

 
1,097.2

 
1,046.0

 
111.9

 
123.0

 
2,995.0

 
2,767.5

Income before Income Taxes*
893.1

 
670.0

 
784.2

 
665.8

 
(177.1
)
 
(107.7
)
 
1,500.2

 
1,228.1

Provision for Income Taxes*
195.9

 
213.0

 
193.7

 
251.4

 
(35.9
)
 
(78.7
)
 
353.7

 
385.7

Net Income
$
697.2

 
$
457.0

 
$
590.5

 
$
414.4

 
$
(141.2
)
 
$
(29.0
)
 
$
1,146.5

 
$
842.4

Percentage of Consolidated Net Income
61
%
 
54
%
 
51
%
 
49
%
 
(12
)%
 
(3
)%
 
100
%
 
100
%
Average Assets
$
83,049.5

 
$
80,229.1

 
$
26,101.6

 
$
26,648.7

 
$
14,345.6

 
11,818.2

 
$
123,496.7

 
$
118,696.0


* Non-GAAP financial measures stated on a fully taxable equivalent basis (FTE). Total consolidated includes FTE adjustments of $28.3 million for 2018 and $29.8 million for 2017.

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.