Reporting Segments (Tables)

3 Months Ended

Mar. 31, 2024

The following table presents the earnings contributions and average assets of Northern Trust’s reporting segments for the three-month periods ended March 31, 2024 and 2023.

TABLE 56: RESULTS OF REPORTING SEGMENTS


($ In Millions)	ASSET SERVICING					WEALTH MANAGEMENT					OTHER					RECONCILING ITEMS				TOTAL CONSOLIDATED
THREE MONTHS ENDED MARCH 31,	2024		2023			2024		2023			2024		2023			2024		2023		2024			2023
Noninterest Income
Trust, Investment and Other Servicing Fees	$	639.6	$	603.0		$	503.3	$	460.6		$	—	$	—		$	—	$	—	$	1,142.9		$	1,063.6
Foreign Exchange Trading Income (Loss)	59.9		54.9			(2.9)		(1.9)			—		—			—		—		57.0			53.0
Other Noninterest Income (Loss)	70.8		63.2			38.5		34.3			(190.5)		(0.7)			—		—		(81.2)			96.8
Total Noninterest Income (Loss)	770.3		721.1			538.9		493.0			(190.5)		(0.7)			—		—		1,118.7			1,213.4
Net Interest Income	293.8		312.1			241.6		232.3			—		—			(7.3)		(13.2)		528.1			531.2
Revenue	1,064.1		1,033.2			780.5		725.3			(190.5)		(0.7)			(7.3)		(13.2)		1,646.8			1,744.6
Provision for Credit Losses	(5.8)		(2.9)			(1.7)		17.9			(1.0)		—			—		—		(8.5)			15.0
Noninterest Expense	852.7		801.0			491.7		469.2			20.3		15.4			—		—		1,364.7			1,285.6
Income before Income Taxes	217.2		235.1			290.5		238.2			(209.8)		(16.1)			(7.3)		(13.2)		290.6			444.0
Provision for Income Taxes	56.6		60.5			81.4		66.1			(54.8)		(4.0)			(7.3)		(13.2)		75.9			109.4
Net Income	$	160.6	$	174.6		$	209.1	$	172.1		$	(155.0)	$	(12.1)		$	—	$	—	$	214.7		$	334.6
Percentage of Consolidated Net Income	N/M		52		%	N/M		52		%	N/M		(4)		%	N/A		N/A		100		%	100		%
Average Assets	$	106,955.0	$	111,215.3		$	38,163.3	$	36,844.6		$	—	$	—		N/A		N/A		$	145,118.3		$	148,059.9

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.