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Employee Benefits (Tables)
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Schedule of Plan Status of U.S. Plan, Non-U.S. Plans and Supplemental Plan
The following tables set forth the status, amounts included in AOCI, and net periodic pension expense of the U.S. Qualified Plan, Non-U.S. Pension Plans, and U.S. Non-Qualified Plan.
TABLE 93: EMPLOYEE BENEFIT PLAN STATUS
U.S. QUALIFIED PLANNON-U.S. PENSION PLANSU.S. NON-QUALIFIED PLAN
($ In Millions)202520242025202420252024
Accumulated Benefit Obligation$1,055.6 $1,005.9 $132.2 $125.7 $86.3 $88.9 
Projected Benefit Obligation$1,196.4 $1,139.0 $137.1 $130.7 $103.4 $103.8 
Plan Assets at Fair Value1,535.3 1,338.1 153.2 139.8 — — 
Funded Status at December 31$338.9 $199.1 $16.1 $9.1 $(103.4)$(103.8)
Weighted-Average Assumptions:
Discount Rates5.53 %5.70 %3.68 %3.32 %5.22 %5.55 %
Rate of Increase in Compensation Level5.76 5.56 1.50 1.50 5.76 5.56 
Expected Long-Term Rate of Return on Assets7.25 7.25 4.02 3.89 N/AN/A
Schedule of Amount Included in Accumulated Other Comprehensive Income
U.S. QUALIFIED PLANNON-U.S. PENSION PLANSU.S. NON-QUALIFIED PLAN
(In Millions)202520242025202420252024
Net Actuarial Loss$499.5 $516.5 $27.5 $29.8 $56.5 $56.6 
Prior Service (Credit) Cost— — (0.1)(0.2)— — 
Gross Amount in Accumulated Other Comprehensive Income499.5 516.5 27.4 29.6 56.5 56.6 
Income Tax Effect125.3 129.5 1.0 3.7 14.2 14.2 
Net Amount in Accumulated Other Comprehensive Income$374.2 $387.0 $26.4 $25.9 $42.3 $42.4 
Schedule of Components of Company's Net Periodic Benefit Cost
U.S. QUALIFIED PLANNON-U.S. PENSION PLANSU.S. NON-QUALIFIED PLAN
($ In Millions)202520242023202520242023202520242023
Service Cost$54.9$53.6$46.0$2.1$1.9$1.6$4.7$4.7$4.8
Interest Cost62.155.653.94.64.54.85.35.05.3
Expected Return on Plan Assets(122.5)(115.7)(100.9)(7.0)(6.7)(6.7)———
Amortization:
Net Actuarial Loss (Gain)7.77.81.5—0.1(0.4)4.55.15.3
Prior Service (Credit) Cost———(0.1)(0.1)————
Net Periodic Pension Expense$2.2$1.3$0.5$(0.4)$(0.3)$(0.7)$14.5$14.8$15.4
Settlement Expense———(0.1)0.2————
Total Pension Expense$2.2$1.3$0.5$(0.5)$(0.1)$(0.7)$14.5$14.8$15.4
Weighted-Average Assumptions:
Discount Rates5.70%5.03%5.22%3.32 %3.12 %3.76 %5.55 %4.95 %5.15 %
Rate of Increase in Compensation Level5.565.56 5.56 1.501.75 1.75 5.565.56 5.56 
Expected Long-Term Rate of Return on Assets7.257.257.25 3.893.90 3.99 N/AN/AN/A
Schedule of Change in Benefit Obligation, Postretirement Health Care, and in Accumulated Postretirement Benefit Obligation
U.S. QUALIFIED PLANNON-U.S. PENSION PLANSU.S. NON-QUALIFIED PLAN
(In Millions)202520242025202420252024
Beginning Balance$1,139.0 $1,151.7 $130.7 $148.6 $103.8 $109.2 
Service Cost54.9 53.6 2.1 1.9 4.7 4.7 
Interest Cost62.1 55.6 4.6 4.5 5.3 5.0 
Employee Contributions— — 0.9 0.8 — — 
Plan Amendment— — 0.2 (0.4)— — 
Actuarial Loss (Gain) 23.4 (60.9)(7.2)(11.9)4.4 (0.8)
Settlements— — (5.1)(1.7)— — 
Benefits Paid(83.0)(61.0)(3.6)(4.3)(14.8)(14.3)
Foreign Exchange Rate Changes— — 14.5 (6.8)— — 
Ending Balance$1,196.4 $1,139.0 $137.1 $130.7 $103.4 $103.8 
Schedule of Estimated Future Benefit Payments
(In Millions)U.S. QUALIFIED PLANNON-U.S. PENSION PLANSU.S. NON-QUALIFIED PLAN
2026$103.9 $5.4 $13.2 
2027106.5 6.2 11.4 
2028102.4 6.8 11.1 
2029103.6 6.2 12.6 
2030101.3 7.5 12.8 
2031-2035510.3 38.7 54.6 
Schedule of Change in Plan Assets
U.S. QUALIFIED PLANNON-U.S. PENSION PLANS
(In Millions)2025202420252024
Fair Value of Assets at Beginning of Period$1,338.1 $1,200.8 $139.8 $148.7 
Actual Return on Assets155.2 (1.7)1.9 (1.2)
Employer Contributions125.0 200.0 4.2 4.0 
Employee Contributions— — 0.9 0.8 
Settlements— — (5.1)(1.7)
Benefits Paid(83.0)(61.0)(3.6)(4.3)
Foreign Exchange Rate Changes— — 15.1 (6.5)
Fair Value of Assets at End of Period$1,535.3 $1,338.1 $153.2 $139.8 
Schedule of Fair Values of U.S. Pension Plan Assets by Major Asset Category, and their Level within Fair Value Hierarchy
The following table presents the fair values of Northern Trust’s U.S. Qualified Plan assets, by major asset category, and their level within the fair value hierarchy defined by GAAP as of December 31, 2025 and 2024.
TABLE 99: FAIR VALUE OF U.S. QUALIFIED PLAN ASSETS
DECEMBER 31, 2025
(In Millions)LEVEL 1LEVEL 2LEVEL 3TOTAL
Domestic Common Stock$62.7 $— $— $62.7 
Foreign Common Stock29.5 — — 29.5 
Domestic Corporate Bonds— 274.1 — 274.1 
Foreign Corporate Bonds— 26.0 — 26.0 
U.S. Government Obligations102.9 — — 102.9 
Non-U.S. Government Obligations— 15.3 — 15.3 
Domestic Municipal and Provincial Bonds— 18.0 — 18.0 
Foreign Municipal and Provincial Bonds— 0.2 — 0.2 
Collective Trust Funds— 837.2 — 837.2 
Cash and Other(1)
(0.7)— — (0.7)
Total Assets at Fair Value in the Fair Value Hierarchy$194.4 $1,170.8 $— $1,365.2 
Assets Valued at NAV per share
Northern Trust Private Equity Funds62.2 
Northern Trust Hedge Fund41.5 
Real Estate Funds66.4 
Total Assets at Fair Value$1,535.3 
(1) Negative balance in Cash and Other as of December 31, 2025 primarily relates to variation margin.
DECEMBER 31, 2024
(In Millions)LEVEL 1LEVEL 2LEVEL 3TOTAL
Domestic Common Stock$17.6 $— $— $17.6 
Foreign Common Stock0.3 — — 0.3 
Domestic Corporate Bonds— 244.9 — 244.9 
Foreign Corporate Bonds— 30.1 — 30.1 
U.S. Government Obligations58.3 — — 58.3 
Non-U.S. Government Obligations— 17.0 — 17.0 
Domestic Municipal and Provincial Bonds— 14.3 — 14.3 
Foreign Municipal and Provincial Bonds— 0.2 — 0.2 
Collective Trust Funds— 734.9 — 734.9 
Mutual Funds56.3 — — 56.3 
Cash and Other(1)
(1.2)— — (1.2)
Total Assets at Fair Value in the Fair Value Hierarchy$131.3 $1,041.4 $— $1,172.7 
Assets Valued at NAV per share
Northern Trust Private Equity Funds53.2 
Northern Trust Hedge Fund39.2 
Real Estate Funds73.0 
Total Assets at Fair Value$1,338.1 
(1) Negative balance in Cash and Other as of December 31, 2024 primarily relates to due to broker for securities purchased.