Reporting Segments (Tables)

6 Months Ended

Jun. 30, 2020

The following table reflects the earnings contributions and average assets of Northern Trust’s reporting segments for the three- and six-month periods ended June 30, 2020 and 2019.

TABLE 62: RESULTS OF REPORTING SEGMENTS


THREE MONTHS ENDED JUNE 30,	CORPORATE & INSTITUTIONAL SERVICES									WEALTH MANAGEMENT									TREASURY AND OTHER						TOTAL CONSOLIDATED
($ In Millions)	2020			2019			2020			2019			2020			2019			2020			2019
Noninterest Income
Trust, Investment and Other Servicing Fees	$	566.2		$	549.4		$	395.3		$	406.1		$	—		$	—		$	961.5		$	955.5
Foreign Exchange Trading Income	68.3			57.3			3.0			3.2			—			—			71.3			60.5
Other Noninterest Income	69.0			44.8			40.8			31.5			(8.6)			(3.1)			101.2			73.2
Total Noninterest Income	703.5			651.5			439.1			440.8			(8.6)			(3.1)			1,134.0			1,089.2
Net Interest Income⁽¹⁾	165.4			229.6			214.4			195.5			—			—			379.8			425.1
Revenue⁽¹⁾	868.9			881.1			653.5			636.3			(8.6)			(3.1)			1,513.8			1,514.3
Provision for Credit Losses	28.8			(2.4)			37.2			(4.1)			—			—			66.0			(6.5)
Noninterest Expense	655.6			633.3			372.0			372.1			9.3			0.8			1,036.9			1,006.2
Income before Income Taxes⁽¹⁾	184.5			250.2			244.3			268.3			(17.9)			(3.9)			410.9			514.6
Provision for Income Taxes⁽¹⁾	41.3			58.3			60.8			67.9			(4.5)			(1.0)			97.6			125.2
Net Income	$	143.2		$	191.9		$	183.5		$	200.4		$	(13.4)		$	(2.9)		$	313.3		$	389.4
Percentage of Consolidated Net Income	45		%	49		%	59		%	52		%	(4)		%	(1)		%	100		%	100		%
Average Assets	$	107,051.3		$	86,696.3		$	31,719.3		$	29,662.6		$	—		$	—		$	138,770.6		$	116,358.9

⁽¹⁾ Non-GAAP financial measures stated on a fully taxable equivalent basis (FTE). Total consolidated includes FTE adjustments of $7.7 million for both 2020 and 2019.


SIX MONTHS ENDED JUNE 30,	CORPORATE & INSTITUTIONAL SERVICES									WEALTH MANAGEMENT									TREASURY AND OTHER						TOTAL CONSOLIDATED
($ In Millions)	2020			2019			2020			2019			2020			2019			2020			2019
Noninterest Income
Trust, Investment and Other Servicing Fees	$	1,140.6		$	1,084.6		$	824.5		$	799.8		$	—		$	—		$	1,965.1		$	1,884.4
Foreign Exchange Trading Income	153.4			117.0			6.8			9.7			—			—			160.2			126.7
Other Noninterest Income	110.8			88.2			83.2			57.0			(5.7)			(8.2)			188.3			137.0
Total Noninterest Income	1,404.8			1,289.8			914.5			866.5			(5.7)			(8.2)			2,313.6			2,148.1
Net Interest Income⁽¹⁾	376.7			464.4			419.3			390.5			—			—			796.0			854.9
Revenue⁽¹⁾	1,781.5			1,754.2			1,333.8			1,257.0			(5.7)			(8.2)			3,109.6			3,003.0
Provision for Credit Losses	54.5			(3.5)			72.5			(3.0)			—			—			127.0			(6.5)
Noninterest Expense	1,314.9			1,281.3			766.4			752.0			21.2			1.6			2,102.5			2,034.9
Income before Income Taxes⁽¹⁾	412.1			476.4			494.9			508.0			(26.9)			(9.8)			880.1			974.6
Provision for Income Taxes⁽¹⁾	91.2			111.9			121.7			128.7			(6.7)			(2.5)			206.2			238.1
Net Income	$	320.9		$	364.5		$	373.2		$	379.3		$	(20.2)		$	(7.3)		$	673.9		$	736.5
Percentage of Consolidated Net Income	48		%	49		%	55		%	52		%	(3)		%	(1)		%	100		%	100		%
Average Assets	$	99,910.1		$	88,512.4		$	31,560.5		$	29,367.0		$	—		$	—		$	131,470.6		$	117,879.4

⁽¹⁾ Non-GAAP financial measures stated on a fully taxable equivalent basis (FTE). Total consolidated includes FTE adjustments of $15.8 million for 2020 and $15.5 million for 2019.