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Share-Based Compensation Plans
 9 Months Ended
Sep. 30, 2021
Share-based Payment Arrangement [Abstract]  
Share-Based Compensation Plans Share-Based Compensation Plans
The Northern Trust Corporation 2017 Long-Term Incentive Plan provides for the grant of non-qualified and incentive stock options; tandem and free-standing stock appreciation rights; stock awards in the form of restricted stock, restricted stock units and other stock awards; and performance awards.
Beginning with the grants made on February 21, 2017 under the Corporation’s prior equity incentive plan, restricted stock unit and performance stock unit grants continue to vest in accordance with the original terms of the award if the applicable employee retires after satisfying applicable age and service requirements.
Total compensation expense for share-based payment arrangements and the associated tax impacts were as follows for the three and nine months ended September 30, 2021 and 2020.
TABLE 73: TOTAL COMPENSATION EXPENSE FOR SHARE-BASED PAYMENT ARRANGEMENTS
THREE MONTHS ENDED SEPTEMBER 30,NINE MONTHS ENDED SEPTEMBER 30,
(In Millions)2021202020212020
Restricted Stock Unit Awards$13.9 $12.2 $67.5 $66.3 
Stock Options— 0.1 — 0.4 
Performance Stock Units2.8 1.6 18.6 16.1 
Total Share-Based Compensation Expense16.7 13.9 86.1 82.8 
Tax Benefits Recognized$4.2 $3.5 $21.6 $20.6