Pension and Postretirement Health Care (Tables)

3 Months Ended

Mar. 31, 2020

Retirement Benefits [Abstract]

Net Periodic Pension Expense (Benefit)

The following table sets forth the net periodic pension and postretirement benefit expense for Northern Trust’s U.S. Qualified Plan, Non-U.S. Pension Plans, U.S. Non-Qualified Plan, and postretirement health care plan for the three months ended March 31, 2020 and 2019.

TABLE 62: NET PERIODIC PENSION EXPENSE (BENEFIT)

U.S. QUALIFIED PLAN	THREE MONTHS ENDED MARCH 31,
(In Millions)	2020			2019
Service Cost	$	11.8		$	10.4
Interest Cost	10.8			11.8
Expected Return on Plan Assets	(19.2		)	(21.7		)
Amortization
Net Actuarial Loss	8.8			4.3
Prior Service Cost	(0.1		)	(0.1		)
Net Periodic Pension Expense	$	12.1		$	4.7

NON-U.S. PENSION PLANS	THREE MONTHS ENDED MARCH 31,
(In Millions)	2020			2019
Service Cost	$	0.5		$	0.5
Interest Cost	0.7			1.0
Expected Return on Plan Assets	(0.7		)	(1.0		)
Settlement Expense	0.2			—
Amortization
Net Actuarial Loss	0.3			0.1
Net Periodic Pension Expense	$	1.0		$	0.6

U.S. NON-QUALIFIED PLAN	THREE MONTHS ENDED MARCH 31,
(In Millions)	2020		2019
Service Cost	$	1.1	$	1.0
Interest Cost	1.2		1.5
Amortization
Net Actuarial Loss	1.8		1.4
Prior Service Cost	—		—
Net Periodic Pension Expense	$	4.1	$	3.9

POSTRETIREMENT HEALTH CARE PLAN	THREE MONTHS ENDED MARCH 31,
(In Millions)	2020			2019
Interest Cost	$	0.2		$	0.3
Amortization
Net Actuarial (Gain)	(0.2		)	(0.3		)
Net Periodic Postretirement Expense	$	—		$	—