Reporting Segments (Tables)

9 Months Ended

Sep. 30, 2022

The following table presents the earnings contributions and average assets of Northern Trust’s reporting segments for the three and nine months ended September 30, 2022 and 2021.

TABLE 61: RESULTS OF REPORTING SEGMENTS


($ In Millions)	ASSET SERVICING						WEALTH MANAGEMENT						OTHER						RECONCILING ITEMS				TOTAL CONSOLIDATED
THREE MONTHS ENDED SEPTEMBER 30,	2022			2021			2022			2021			2022			2021			2022		2021		2022			2021
Noninterest Income
Trust, Investment and Other Servicing Fees	$	603.2		$	630.2		$	475.5		$	480.8		$	—		$	—		$	—	$	—	$	1,078.7		$	1,111.0
Foreign Exchange Trading Income	63.7			63.2			1.0			3.2			—			—			—		—		64.7			66.4
Other Noninterest Income	62.5			65.6			37.0			48.0			(1.1)			(3.6)			—		—		98.4			110.0
Total Noninterest Income	729.4			759.0			513.5			532.0			(1.1)			(3.6)			—		—		1,241.8			1,287.4
Net Interest Income	303.3			158.9			222.0			198.2			—			—			(12.3)		(10.7)		513.0			346.4
Revenue	1,032.7			917.9			735.5			730.2			(1.1)			(3.6)			(12.3)		(10.7)		1,754.8			1,633.8
Provision for Credit Losses	(5.1)			(6.9)			5.6			(6.1)			—			—			—		—		0.5			(13.0)
Noninterest Expense	760.4			716.6			449.0			410.9			20.4			1.2			—		—		1,229.8			1,128.7
Income before Income Taxes	277.4			208.2			280.9			325.4			(21.5)			(4.8)			(12.3)		(10.7)		524.5			518.1
Provision for Income Taxes	67.7			50.0			79.6			84.3			(5.3)			(1.2)			(12.3)		(10.7)		129.7			122.4
Net Income	$	209.7		$	158.2		$	201.3		$	241.1		$	(16.2)		$	(3.6)		$	—	$	—	$	394.8		$	395.7
Percentage of Consolidated Net Income	53		%	40		%	51		%	61		%	(4)		%	(1)		%	N/A		N/A		100		%	100		%
Average Assets	$	109,677.2		$	119,951.9		$	36,725.0		$	36,500.9		$	—		$	—		N/A		N/A		$	146,402.2		$	156,452.8



($ In Millions)	ASSET SERVICING						WEALTH MANAGEMENT						OTHER						RECONCILING ITEMS				TOTAL CONSOLIDATED
NINE MONTHS ENDED SEPTEMBER 30,	2022			2021			2022			2021			2022			2021			2022		2021		2022			2021
Noninterest Income
Trust, Investment and Other Servicing Fees	$	1,908.4		$	1,862.2		$	1,482.1		$	1,387.9		$	—		$	—		$	—	$	—	$	3,390.5		$	3,250.1
Foreign Exchange Trading Income	215.9			205.6			7.3			10.1			—			—			—		—		223.2			215.7
Other Noninterest Income	185.4			194.8			101.6			130.5			(11.2)			(15.7)			—		—		275.8			309.6
Total Noninterest Income	2,309.7			2,262.6			1,591.0			1,528.5			(11.2)			(15.7)			—		—		3,889.5			3,775.4
Net Interest Income	748.5			472.7			634.3			575.0			—			—			(30.1)		(25.6)		1,352.7			1,022.1
Revenue	3,058.2			2,735.3			2,225.3			2,103.5			(11.2)			(15.7)			(30.1)		(25.6)		5,242.2			4,797.5
Provision for Credit Losses	3.8			(29.1)			3.2			(40.9)			—			—			—		—		7.0			(70.0)
Noninterest Expense	2,269.4			2,133.3			1,333.2			1,212.5			56.7			21.2			—		—		3,659.3			3,367.0
Income before Income Taxes	785.0			631.1			888.9			931.9			(67.9)			(36.9)			(30.1)		(25.6)		1,575.9			1,500.5
Provision for Income Taxes	194.0			153.1			248.6			243.3			(16.9)			(9.2)			(30.1)		(25.6)		395.6			361.6
Net Income	$	591.0		$	478.0		$	640.3		$	688.6		$	(51.0)		$	(27.7)		$	—	$	—	$	1,180.3		$	1,138.9
Percentage of Consolidated Net Income	50		%	42		%	54		%	60		%	(4)		%	(2)		%	N/A		N/A		100		%	100		%
Average Assets	$	117,251.0		$	119,859.4		$	36,901.1		$	34,821.9		$	—		$	—		N/A		N/A		$	154,152.1		$	154,681.3