Pension (Tables)

9 Months Ended

Sep. 30, 2025

Retirement Benefits [Abstract]

Schedule of Net Periodic Pension Expense (Benefit)

The following table sets forth the net periodic pension expense for Northern Trust’s U.S. Qualified Plan, Non-U.S. Pension Plans, and U.S. Non-Qualified Plan for the three and nine months ended September 30, 2025 and 2024.

TABLE 66: NET PERIODIC PENSION EXPENSE (BENEFIT)

U.S. QUALIFIED PLAN	THREE MONTHS ENDED SEPTEMBER 30,				NINE MONTHS ENDED SEPTEMBER 30,
(In Millions)	2025		2024		2025		2024
Service Cost	$	13.7	$	13.4	$	41.1	$	40.2
Interest Cost	15.5		13.9		46.5		41.7
Expected Return on Plan Assets	(30.6)		(28.9)		(91.8)		(86.7)
Amortization
Net Actuarial Loss	1.9		1.9		5.7		5.7
Net Periodic Pension Expense	$	0.5	$	0.3	$	1.5	$	0.9

NON-U.S. PENSION PLANS	THREE MONTHS ENDED SEPTEMBER 30,				NINE MONTHS ENDED SEPTEMBER 30,
(In Millions)	2025		2024		2025		2024
Service Cost	$	0.5	$	0.5	$	1.5	$	1.5
Interest Cost	1.2		1.1		3.5		3.3
Expected Return on Plan Assets	(1.7)		(1.6)		(5.0)		(4.8)
Net Periodic Pension Expense	$	—	$	—	$	—	$	—

U.S. NON-QUALIFIED PLAN	THREE MONTHS ENDED SEPTEMBER 30,				NINE MONTHS ENDED SEPTEMBER 30,
(In Millions)	2025		2024		2025		2024
Service Cost	$	1.2	$	1.2	$	3.6	$	3.6
Interest Cost	1.3		1.2		3.9		3.6
Amortization
Net Actuarial Loss	1.1		1.3		3.3		3.9
Net Periodic Pension Expense	$	3.6	$	3.7	$	10.8	$	11.1