Reporting Segments (Tables)

6 Months Ended

Jun. 30, 2021

The following table presents the earnings contributions and average assets of Northern Trust’s reporting segments for the three- and six- month periods ended June 30, 2021 and 2020.

TABLE 63: RESULTS OF REPORTING SEGMENTS


($ In Millions)	CORPORATE & INSTITUTIONAL SERVICES						WEALTH MANAGEMENT						OTHER						TOTAL CONSOLIDATED
THREE MONTHS ENDED JUNE 30,	2021			2020			2021			2020			2021			2020			2021			2020
Noninterest Income
Trust, Investment and Other Servicing Fees	$	611.5		$	566.2		$	463.9		$	395.3		$	—		$	—		$	1,075.4		$	961.5
Foreign Exchange Trading Income	67.9			68.3			2.7			3.0			—			—			70.6			71.3
Other Noninterest Income	68.9			69.0			38.3			40.8			(8.5)			(8.6)			98.7			101.2
Total Noninterest Income	748.3			703.5			504.9			439.1			(8.5)			(8.6)			1,244.7			1,134.0
Net Interest Income(1)	153.1			165.4			190.8			214.4			—			—			343.9			379.8
Revenue(1)	901.4			868.9			695.7			653.5			(8.5)			(8.6)			1,588.6			1,513.8
Provision for Credit Losses	(16.8)			28.8			(10.2)			37.2			—			—			(27.0)			66.0
Noninterest Expense	703.6			655.6			398.5			372.0			18.7			9.3			1,120.8			1,036.9
Income before Income Taxes(1)	214.6			184.5			307.4			244.3			(27.2)			(17.9)			494.8			410.9
Provision for Income Taxes(1)	53.0			41.3			80.5			60.8			(6.8)			(4.5)			126.7			97.6
Net Income	$	161.6		$	143.2		$	226.9		$	183.5		$	(20.4)		$	(13.4)		$	368.1		$	313.3
Percentage of Consolidated Net Income	44		%	45		%	62		%	59		%	(6)		%	(4)		%	100		%	100		%
Average Assets	$	119,502.3		$	107,051.3		$	34,797.8		$	31,719.3		$	—		$	—		$	154,300.1		$	138,770.6

(1) Non-GAAP financial measures stated on a fully taxable equivalent basis (FTE). Total consolidated includes FTE adjustments of $8.3 million for 2021 and $7.7 million for 2020.



($ In Millions)	CORPORATE & INSTITUTIONAL SERVICES						WEALTH MANAGEMENT						OTHER						TOTAL CONSOLIDATED
SIX MONTHS ENDED JUNE 30,	2021			2020			2021			2020			2021			2020			2021			2020
Noninterest Income
Trust, Investment and Other Servicing Fees	$	1,232.0		$	1,140.6		$	907.1		$	824.5		$	—		$	—		$	2,139.1		$	1,965.1
Foreign Exchange Trading Income	142.4			153.4			6.9			6.8			—			—			149.3			160.2
Other Noninterest Income	129.2			110.8			82.5			83.2			(12.1)			(5.7)			199.6			188.3
Total Noninterest Income	1,503.6			1,404.8			996.5			914.5			(12.1)			(5.7)			2,488.0			2,313.6
Net Interest Income(1)	313.8			376.7			376.8			419.3			—			—			690.6			796.0
Revenue(1)	1,817.4			1,781.5			1,373.3			1,333.8			(12.1)			(5.7)			3,178.6			3,109.6
Provision for Credit Losses	(22.2)			54.5			(34.8)			72.5			—			—			(57.0)			127.0
Noninterest Expense	1,416.7			1,314.9			801.6			766.4			20.0			21.2			2,238.3			2,102.5
Income before Income Taxes(1)	422.9			412.1			606.5			494.9			(32.1)			(26.9)			997.3			880.1
Provision for Income Taxes(1)	103.1			91.2			159.0			121.7			(8.0)			(6.7)			254.1			206.2
Net Income	$	319.8		$	320.9		$	447.5		$	373.2		$	(24.1)		$	(20.2)		$	743.2		$	673.9
Percentage of Consolidated Net Income	43		%	48		%	60		%	55		%	(3)		%	(3)		%	100		%	100		%
Average Assets	$	119,820.7		$	99,910.1		$	33,960.1		$	31,560.5		$	—		$	—		$	153,780.8		$	131,470.6

(1) Non-GAAP financial measures stated on a fully taxable equivalent basis (FTE). Total consolidated includes FTE adjustments of $14.9 million for 2021 and $15.8 million for 2020.