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Offsetting of Assets and Liabilities (Tables)
 9 Months Ended
Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Offsetting of Derivative Assets and Securities Purchased Under Agreements to Resell
The following table provides information regarding the offsetting of derivative assets and securities purchased under agreements to resell within the consolidated balance sheets as of September 30, 2021 and December 31, 2020.
TABLE 79: OFFSETTING OF DERIVATIVE ASSETS AND SECURITIES PURCHASED UNDER AGREEMENTS TO RESELL
SEPTEMBER 30, 2021
(In Millions)GROSS RECOGNIZED ASSETS
GROSS AMOUNTS OFFSET IN THE BALANCE SHEET(3)
NET AMOUNTS PRESENTED IN THE BALANCE SHEET
GROSS AMOUNTS NOT OFFSET IN THE BALANCE SHEET(4)
NET AMOUNT(5)
Derivative Assets(1)
Foreign Exchange Contracts Over the Counter (OTC)$1,957.7 $936.9 $1,020.8 $2.8 $1,018.0 
Interest Rate Swaps OTC192.6 2.6 190.0 — 190.0 
Interest Rate Swaps Exchange Cleared2.2 — 2.2 — 2.2 
Total Derivatives Subject to a Master Netting Arrangement2,152.5 939.5 1,213.0 2.8 1,210.2 
Total Derivatives Not Subject to a Master Netting Arrangement851.7 — 851.7 — 851.7 
Total Derivatives3,004.2 939.5 2,064.7 2.8 2,061.9 
Securities Purchased under Agreements to Resell(2)
$1,372.8 $500.0 $872.8 $872.8 $— 
DECEMBER 31, 2020
(In Millions)GROSS RECOGNIZED ASSETS
GROSS AMOUNTS OFFSET IN THE BALANCE SHEET(3)
NET AMOUNTS PRESENTED IN THE BALANCE SHEET
GROSS AMOUNTS NOT OFFSET IN THE BALANCE SHEET(4)
NET AMOUNT(5)
Derivative Assets(1)
Foreign Exchange Contracts OTC$3,799.7 $3,505.3 $294.4 $0.9 $293.5 
Interest Rate Swaps OTC295.9 2.5 293.4 — 293.4 
Interest Rate Swaps Exchange Cleared1.6 — 1.6 — 1.6 
Total Derivatives Subject to a Master Netting Arrangement4,097.2 3,507.8 589.4 0.9 588.5 
Total Derivatives Not Subject to a Master Netting Arrangement461.0 — 461.0 — 461.0 
Total Derivatives4,558.2 3,507.8 1,050.4 0.9 1,049.5 
Securities Purchased under Agreements to Resell$1,596.5 $— $1,596.5 $1,596.5 $— 
(1)Derivative assets are reported in Other Assets on the consolidated balance sheets. Other Assets (excluding derivative assets) totaled $7.7 billion and $7.3 billion as of September 30, 2021 and December 31, 2020, respectively.
(2)Offsetting of Securities Purchased under Agreements to Resell primarily relates to our involvement in FICC.
(3)Including cash collateral received from counterparties.
(4)Including financial assets accepted as collateral which are received from counterparties.
(5)Northern Trust did not possess any cash collateral that was not offset in the consolidated balance sheets that could have been used to offset the net amounts presented in the consolidated balance sheets as of September 30, 2021 and December 31, 2020.
Offsetting of Derivative Liabilities and Securities Sold Under Agreements to Repurchase
The following table provides information regarding the offsetting of derivative liabilities and securities sold under agreements to repurchase within the consolidated balance sheets as of September 30, 2021 and December 31, 2020.
TABLE 80: OFFSETTING OF DERIVATIVE LIABILITIES AND SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE
SEPTEMBER 30, 2021
(In Millions)GROSS RECOGNIZED LIABILITIES
GROSS AMOUNTS OFFSET IN THE BALANCE SHEET(3)
NET AMOUNTS PRESENTED IN THE BALANCE SHEET
GROSS AMOUNTS NOT OFFSET IN THE BALANCE SHEET(4)
NET AMOUNT(5)
Derivative Liabilities(1)
Foreign Exchange Contracts OTC$2,365.1 $2,268.8 $96.3 $0.5 $95.8 
Interest Rate Swaps OTC106.3 65.1 41.2 — 41.2 
Interest Rate Swaps Exchange Cleared1.0 — 1.0 — 1.0 
Other Financial Derivatives36.7 — 36.7 — 36.7 
Total Derivatives Subject to a Master Netting Arrangement2,509.1 2,333.9 175.2 0.5 174.7 
Total Derivatives Not Subject to a Master Netting Arrangement247.6 — 247.6 — 247.6 
Total Derivatives2,756.7 2,333.9 422.8 0.5 422.3 
Securities Sold under Agreements to Repurchase(2)
$1,073.6 $500.0 $573.6 $573.6 $— 
DECEMBER 31, 2020
(In Millions)GROSS RECOGNIZED LIABILITIES
GROSS AMOUNTS OFFSET IN THE BALANCE SHEET(3)
NET AMOUNTS PRESENTED IN THE BALANCE SHEET
GROSS AMOUNTS NOT OFFSET IN THE BALANCE SHEET(4)
NET AMOUNT(5)
Derivative Liabilities(1)
Foreign Exchange Contracts OTC$3,577.7 $2,718.6 $859.1 $0.5 $858.6 
Interest Rate Swaps OTC125.0 98.5 26.5 — 26.5 
Interest Rate Swaps Exchange Cleared— — — — — 
Other Financial Derivatives35.3 — 35.3 — 35.3 
Total Derivatives Subject to a Master Netting Arrangement3,738.0 2,817.1 920.9 0.5 920.4 
Total Derivatives Not Subject to a Master Netting Arrangement1,144.8 — 1,144.8 — 1,144.8 
Total Derivatives4,882.8 2,817.1 2,065.7 0.5 2,065.2 
Securities Sold under Agreements to Repurchase$39.8 $— $39.8 $39.8 $— 
(1)Derivative liabilities are reported in Other Liabilities on the consolidated balance sheets. Other Liabilities (excluding derivative liabilities) totaled $4.7 billion and $3.5 billion as of September 30, 2021 and December 31, 2020, respectively.
(2)Offsetting of Securities Sold under Agreements to Repurchase primarily relates to our involvement in FICC.
(3)Including cash collateral deposited with counterparties.
(4)Including financial assets accepted as collateral which are deposited with counterparties.
(5)Northern Trust did not place any cash collateral with counterparties that was not offset in the consolidated balance sheets that could have been used to offset the net amounts presented in the consolidated balance sheets as of September 30, 2021 and December 31, 2020.