Pension (Tables)

3 Months Ended

Mar. 31, 2026

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, U.S. Non-Qualified Plan, and the Non-U.S. Pension Plans for the three months ended March 31, 2026 and 2025.

TABLE 60: NET PERIODIC PENSION EXPENSE (BENEFIT)

U.S. QUALIFIED PLAN	THREE MONTHS ENDED MARCH 31,
(In Millions)	2026		2025
Service Cost	$	14.6	$	13.7
Interest Cost	15.8		15.5
Expected Return on Plan Assets	(29.3)		(30.6)
Amortization
Net Actuarial Loss	5.0		1.9
Net Periodic Pension Expense	$	6.1	$	0.5

U.S. NON-QUALIFIED PLAN	THREE MONTHS ENDED MARCH 31,
(In Millions)	2026		2025
Service Cost	$	1.2	$	1.2
Interest Cost	1.3		1.3
Amortization
Net Actuarial Loss	1.1		1.1
Net Periodic Pension Expense	$	3.6	$	3.6

NON-U.S. PENSION PLANS	THREE MONTHS ENDED MARCH 31,
(In Millions)	2026		2025
Service Cost	$	1.5	$	1.0
Interest Cost	1.6		1.3
Expected Return on Plan Assets	(2.1)		(1.8)
Amortization
Net Actuarial Loss	0.3		0.1
Prior Service Cost	0.5		—
Net Periodic Pension Expense	$	1.8	$	0.6

Note: As of January 1, 2026, certain Gratuity plans for Northern Trust's locations in India have been included in the non‑U.S. pension plan disclosures due to their increased significance. Prior period amounts have been revised to conform to the current year presentation.