Reporting Segments (Tables)

3 Months Ended

Mar. 31, 2021

The following table presents the earnings contributions and average assets of Northern Trust’s reporting segments for the three month periods ended March 31, 2021 and 2020.

TABLE 58: RESULTS OF REPORTING SEGMENTS


($ In Millions)	CORPORATE & INSTITUTIONAL SERVICES						WEALTH MANAGEMENT						OTHER						TOTAL CONSOLIDATED
THREE MONTHS ENDED MARCH 31,	2021			2020			2021			2020			2021			2020			2021			2020
Noninterest Income
Trust, Investment and Other Servicing Fees	$	620.5		$	574.4		$	443.2		$	429.2		$	—		$	—		$	1,063.7		$	1,003.6
Foreign Exchange Trading Income	74.5			85.1			4.2			3.8			—			—			78.7			88.9
Other Noninterest Income	60.3			41.8			44.2			42.4			(3.6)			2.9			100.9			87.1
Total Noninterest Income	755.3			701.3			491.6			475.4			(3.6)			2.9			1,243.3			1,179.6
Net Interest Income(1)	160.7			211.3			186.0			204.9			—			—			346.7			416.2
Revenue(1)	916.0			912.6			677.6			680.3			(3.6)			2.9			1,590.0			1,595.8
Provision for Credit Losses	(5.4)			25.7			(24.6)			35.3			—			—			(30.0)			61.0
Noninterest Expense	713.1			659.3			403.1			394.4			1.3			11.9			1,117.5			1,065.6
Income before Income Taxes(1)	208.3			227.6			299.1			250.6			(4.9)			(9.0)			502.5			469.2
Provision for Income Taxes(1)	50.1			49.9			78.5			60.9			(1.2)			(2.2)			127.4			108.6
Net Income	$	158.2		$	177.7		$	220.6		$	189.7		$	(3.7)		$	(6.8)		$	375.1		$	360.6
Percentage of Consolidated Net Income	42		%	49		%	59		%	53		%	(1)		%	(2)		%	100		%	100		%
Average Assets	$	120,157.7		$	92,715.3		$	33,098.1		$	31,455.2		$	—		$	—		$	153,255.8		$	124,170.5

(1) Non-GAAP financial measures stated on a fully taxable equivalent basis (FTE). Total consolidated includes FTE adjustments of $6.6 million for 2021 and $8.1 million for 2020.