Pension and Postretirement Health Care (Tables)

3 Months Ended

Mar. 31, 2021

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, 2021 and 2020.

TABLE 67: NET PERIODIC PENSION EXPENSE (BENEFIT)


U.S. QUALIFIED PLAN	THREE MONTHS ENDED MARCH 31,
(In Millions)	2021		2020
Service Cost	$	13.2	$	11.8
Interest Cost	9.8		10.8
Expected Return on Plan Assets	(20.1)		(19.2)
Amortization
Net Actuarial Loss	9.4		8.8
Prior Service Cost	(0.1)		(0.1)
Net Periodic Pension Expense	$	12.2	$	12.1


NON-U.S. PENSION PLANS	THREE MONTHS ENDED MARCH 31,
(In Millions)	2021		2020
Service Cost	$	0.5	$	0.5
Interest Cost	0.6		0.7
Expected Return on Plan Assets	(0.6)		(0.7)
Settlement Expense	0.2		0.2
Amortization
Net Actuarial Loss	0.3		0.3
Prior Service Cost	—		—
Net Periodic Pension Expense	$	1.0	$	1.0


U.S. NON-QUALIFIED PLAN	THREE MONTHS ENDED MARCH 31,
(In Millions)	2021		2020
Service Cost	$	1.3	$	1.1
Interest Cost	0.9		1.2
Amortization
Net Actuarial Loss	2.1		1.8
Prior Service Cost	—		—
Net Periodic Pension Expense	$	4.3	$	4.1


POSTRETIREMENT HEALTH CARE PLAN	THREE MONTHS ENDED MARCH 31,
(In Millions)	2021		2020
Service Cost	$	—	$	—
Interest Cost	0.1		0.2
Amortization
Net Actuarial (Gain)	(0.1)		(0.2)
Prior Service Cost	(0.2)		—
Net Periodic Postretirement Expense	$	(0.2)	$	—