Reporting Segments (Tables)

3 Months Ended

Mar. 31, 2022

The following table presents the earnings contributions and average assets of Northern Trust’s reporting segments for the three month periods ended March 31, 2022 and 2021.

TABLE 57: RESULTS OF REPORTING SEGMENTS


($ In Millions)	ASSET SERVICING						WEALTH MANAGEMENT						OTHER						RECONCILING ITEMS				TOTAL CONSOLIDATED
THREE MONTHS ENDED MARCH 31,	2022			2021			2022			2021			2022			2021			2022		2021		2022			2021
Noninterest Income
Trust, Investment and Other Servicing Fees	$	662.4		$	620.5		$	506.0		$	443.2		$	—		$	—		$	—	$	—	$	1,168.4		$	1,063.7
Foreign Exchange Trading Income	77.4			74.5			3.5			4.2			—			—			—		—		80.9			78.7
Other Noninterest Income	61.1			60.3			31.8			44.2			(4.5)			(3.6)			—		—		88.4			100.9
Total Noninterest Income	800.9			755.3			541.3			491.6			(4.5)			(3.6)			—		—		1,337.7			1,243.3
Net Interest Income	190.1			160.7			197.6			186.0			—			—			(6.7)		(6.6)		381.0			340.1
Revenue	991.0			916.0			738.9			677.6			(4.5)			(3.6)			(6.7)		(6.6)		1,718.7			1,583.4
Provision for Credit Losses	8.4			(5.4)			(6.4)			(24.6)			—			—			—		—		2.0			(30.0)
Noninterest Expense	757.9			713.1			445.1			403.1			2.9			1.3			—		—		1,205.9			1,117.5
Income before Income Taxes	224.7			208.3			300.2			299.1			(7.4)			(4.9)			(6.7)		(6.6)		510.8			495.9
Provision for Income Taxes	51.8			50.1			78.3			78.5			(1.9)			(1.2)			(6.7)		(6.6)		121.5			120.8
Net Income	$	172.9		$	158.2		$	221.9		$	220.6		$	(5.5)		$	(3.7)		$	—	$	—	$	389.3		$	375.1
Percentage of Consolidated Net Income	44		%	42		%	57		%	59		%	(1)		%	(1)		%	N/A		N/A		100		%	100		%
Average Assets	$	125,234.9		$	120,157.7		$	36,908.1		$	33,098.1		$	—		$	—		N/A		N/A		$	162,143.0		$	153,255.8

Note: Segment results are stated on an FTE basis. The FTE adjustments are eliminated in the reconciling items column with the Corporation’s total consolidated financial results stated on a GAAP basis. The adjustment to an FTE basis has no impact on net income.