Reporting Segments and Related Information (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Contribution of Northern Trust's Reporting Segments

The following tables reflect the earnings contribution and average assets of Northern Trust’s reporting segments for the years ended December 31, 2021, 2020, and 2019.

TABLE 134: CORPORATE & INSTITUTIONAL SERVICES RESULTS OF OPERATIONS


	FOR THE YEAR ENDED DECEMBER 31,
($ In Millions)	2021			2020			2019
Noninterest Income
Trust, Investment and Other Servicing Fees	$	2,487.3		$	2,321.6		$	2,211.5
Foreign Exchange Trading Income	279.0			276.3			232.2
Other Noninterest Income	261.2			222.5			178.2
Total Noninterest Income	3,027.5			2,820.4			2,621.9
Net Interest Income(1)	637.2			665.5			918.7
Revenue(1)	3,664.7			3,485.9			3,540.6
Provision for Credit Losses	(33.8)			38.1			1.9
Noninterest Expense	2,863.0			2,752.7			2,605.5
Income before Income Taxes(1)	835.5			695.1			933.2
Provision for Income Taxes(1)	194.1			174.4			219.4
Net Income	$	641.4		$	520.7		$	713.8
Percentage of Consolidated Net Income	41		%	43		%	48		%
Average Assets	$	120,883.2		$	104,790.6		$	87,557.1

(1) Financial measures stated on an FTE basis.

TABLE 135: WEALTH MANAGEMENT RESULTS OF OPERATIONS


	FOR THE YEAR ENDED DECEMBER 31,
($ In Millions)	2021			2020			2019
Noninterest Income
Trust, Investment and Other Servicing Fees	$	1,873.8		$	1,673.4		$	1,640.6
Foreign Exchange Trading Income	13.6			14.1			18.7
Other Noninterest Income	188.2			168.0			131.1
Total Noninterest Income	2,075.6			1,855.5			1,790.4
Net Interest Income(1)	781.1			812.1			792.0
Revenue(1)	2,856.7			2,667.6			2,582.4
Provision for Credit Losses	(47.7)			86.9			(16.4)
Noninterest Expense	1,651.1			1,559.7			1,531.6
Income before Income Taxes(1)	1,253.3			1,021.0			1,067.2
Provision for Income Taxes(1)	317.0			291.8			271.1
Net Income	$	936.3		$	729.2		$	796.1
Percentage of Consolidated Net Income	61		%	60		%	53		%
Average Assets	$	35,480.0		$	32,020.5		$	29,994.3

(1) Financial measures stated on an FTE basis.

TABLE 136: OTHER RESULTS OF OPERATIONS


	FOR THE YEAR ENDED DECEMBER 31,
($ In Millions)	2021			2020			2019
Noninterest Income	$	(21.3)		$	(18.3)		$	(17.1)
Net Interest Income(1)	—			—			—
Revenue(1)	(21.3)			(18.3)			(17.1)
Noninterest Expense	21.8			35.8			6.4
Income (Loss) before Income Taxes(1)	(43.1)			(54.1)			(23.5)
Provision (Benefit) for Income Taxes(1)	(10.7)			(13.5)			(5.8)
Net Income	$	(32.4)		$	(40.6)		$	(17.7)
Percentage of Consolidated Net Income	(2)		%	(3)		%	(1)		%
Average Assets	$	—		$	—		$	—

(1) Financial measures stated on an FTE basis.

TABLE 137: CONSOLIDATED FINANCIAL INFORMATION


	FOR THE YEAR ENDED DECEMBER 31,
(In Millions)	2021		2020		2019
Noninterest Income
Trust, Investment and Other Servicing Fees	$	4,361.1	$	3,995.0	$	3,852.1
Foreign Exchange Trading Income	292.6		290.4		250.9
Other Noninterest Income	428.1		372.2		292.2
Total Noninterest Income	5,081.8		4,657.6		4,395.2
Net Interest Income(1)	1,418.3		1,477.6		1,710.7
Revenue(1)	6,500.1		6,135.2		6,105.9
Provision for Credit Losses	(81.5)		125.0		(14.5)
Noninterest Expense	4,535.9		4,348.2		4,143.5
Income before Income Taxes(1)	2,045.7		1,662.0		1,976.9
Provision for Income Taxes(1)	500.4		452.7		484.7
Net Income	$	1,545.3	$	1,209.3	$	1,492.2
Average Assets	$	156,363.2	$	136,811.1	$	117,551.4

(1) Financial measures stated on an FTE basis. The consolidated figures include $35.6 million, $34.4 million, and $32.8 million, of FTE adjustments for 2021, 2020, and 2019, respectively.

Distribution of Total Assets and Operating Performance

The following table summarizes Northern Trust’s performance based on the allocation process described above without regard to guarantors or the location of collateral.

TABLE 138: DISTRIBUTION OF TOTAL ASSETS AND OPERATING PERFORMANCE


(In Millions)	TOTAL ASSETS		TOTAL REVENUE(1)		INCOME BEFORE INCOME TAXES		NET INCOME
2021
Non-U.S.	$	38,555.3	$	2,017.5	$	569.4	$	426.7
U.S.	145,334.5		4,447.0		1,440.7		1,118.6
Total	$	183,889.8	$	6,464.5	$	2,010.1	$	1,545.3
2020
Non-U.S.	$	38,393.8	$	1,737.6	$	404.0	$	302.6
U.S.	131,610.1		4,363.2		1,223.6		906.7
Total	$	170,003.9	$	6,100.8	$	1,627.6	$	1,209.3
2019
Non-U.S.	$	27,888.6	$	1,889.5	$	600.0	$	451.0
U.S.	108,939.8		4,183.6		1,344.1		1,041.2
Total	$	136,828.4	$	6,073.1	$	1,944.1	$	1,492.2

(1) Total revenue is comprised of net interest income and noninterest income.