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Allowance for Credit Losses
 6 Months Ended
Jun. 30, 2019
Receivables [Abstract]  
Allowance for Credit Losses Allowance for Credit Losses
The allowance for credit losses, which represents management’s estimate of probable losses related to specific borrower relationships and inherent in the various loan and lease portfolios, undrawn commitments, and standby letters of credit, is determined by management through a disciplined credit review process. Northern Trust’s accounting policies related to the estimation of the allowance for credit losses and the charging off of loans, leases and other extensions of credit deemed uncollectible are consistent across both loan and lease segments.
Loans, leases and other extensions of credit deemed uncollectible are charged to the allowance for credit losses. Subsequent recoveries, if any, are credited to the allowance. Determinations as to whether an uncollectible loan is charged-off or a specific allowance is established are based on management’s assessment as to the level of certainty regarding the amount of loss.
The following table provides information regarding changes in the total allowance for credit losses by segment during the three and six months ended June 30, 2019 and 2018.
Table 48: Changes in the Allowance for Credit Losses
 
Three Months Ended June 30,
 
2019
 
2018
(In Millions)
Commercial
 
Personal
 
Total
 
Commercial
 
Personal
 
Total
Balance at Beginning of Period
$
78.6

 
$
60.8

 
$
139.4

 
$
77.1

 
$
70.7

 
$
147.8

Charge-Offs
—

 
(0.6
)
 
(0.6
)
 
(0.1
)
 
(2.1
)
 
(2.2
)
Recoveries
0.3

 
1.5

 
1.8

 
0.5

 
1.6

 
2.1

Net (Charge-Offs) Recoveries
0.3

 
0.9

 
1.2

 
0.4

 
(0.5
)
 
(0.1
)
Provision for Credit Losses
(0.5
)
 
(6.0
)
 
(6.5
)
 
4.3

 
(2.8
)
 
1.5

Balance at End of Period
$
78.4

 
$
55.7

 
$
134.1

 
$
81.8

 
$
67.4

 
$
149.2

 
Six Months Ended June 30,
 
2019
 
2018
(In Millions)
Commercial
 
Personal
 
Total
 
Commercial
 
Personal
 
Total
Balance at Beginning of Period
$
78.7

 
$
59.5

 
$
138.2

 
$
80.8

 
$
73.0

 
$
153.8

Charge-Offs
(0.1
)
 
(1.5
)
 
(1.6
)
 
(0.9
)
 
(5.6
)
 
(6.5
)
Recoveries
0.7

 
3.3

 
4.0

 
1.1

 
2.3

 
3.4

Net (Charge-Offs) Recoveries
0.6

 
1.8

 
2.4

 
0.2

 
(3.3
)
 
(3.1
)
Provision for Credit Losses
(0.9
)
 
(5.6
)
 
(6.5
)
 
0.8

 
(2.3
)
 
(1.5
)
Balance at End of Period
$
78.4

 
$
55.7

 
$
134.1

 
$
81.8

 
$
67.4

 
$
149.2


The following table provides information regarding the recorded investments in loans and leases and the allowance for credit losses by segment as of June 30, 2019 and December 31, 2018.
Table 49: Recorded Investments in Loans and Leases
 
June 30, 2019
 
December 31, 2018
(In Millions)
Commercial
 
Personal
 
Total
 
Commercial
 
Personal
 
Total
Loans and Leases
 
 
 
 
 
 
 
 
 
 
 
Specifically Evaluated for Impairment
$
13.7

 
$
106.8

 
$
120.5

 
$
15.0

 
$
101.2

 
$
116.2

Evaluated for Inherent Impairment
14,123.2

 
16,738.6

 
30,861.8

 
15,160.2

 
17,213.6

 
32,373.8

Total Loans and Leases
14,136.9

 
16,845.4

 
30,982.3

 
15,175.2

 
17,314.8

 
32,490.0

Allowance for Credit Losses on Credit Exposures
 
 
 
 
 
 
 
 
 
 
 
Specifically Evaluated for Impairment
5.8

 
3.0

 
8.8

 
4.1

 
3.1

 
7.2

Evaluated for Inherent Impairment
54.1

 
47.9

 
102.0

 
53.5

 
51.9

 
105.4

Allowance Assigned to Loans and Leases
59.9

 
50.9

 
110.8

 
57.6

 
55.0

 
112.6

Allowance for Undrawn Exposures
 
 
 
 
 
 
 
 
 
 
 
Commitments and Standby Letters of Credit
18.5

 
4.8

 
23.3

 
21.1

 
4.5

 
25.6

Total Allowance for Credit Losses
$
78.4

 
$
55.7

 
$
134.1

 
$
78.7

 
$
59.5

 
$
138.2