XML 45 R25.htm IDEA: XBRL DOCUMENT v3.26.1
Pension
 6 Months Ended
Jun. 30, 2026
Retirement Benefits [Abstract]  
Pension Pension
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 and six months ended June 30, 2026 and 2025.
TABLE 64: NET PERIODIC PENSION EXPENSE (BENEFIT)
U.S. QUALIFIED PLANTHREE MONTHS ENDED JUNE 30,SIX MONTHS ENDED JUNE 30,
(In Millions)2026202520262025
Service Cost$14.6 $13.7 $29.2 $27.4 
Interest Cost15.8 15.5 31.6 31.0 
Expected Return on Plan Assets(29.3)(30.6)(58.6)(61.2)
Amortization
Net Actuarial Loss5.0 1.9 10.0 3.8 
Net Periodic Pension Expense$6.1 $0.5 $12.2 $1.0 
U.S. NON-QUALIFIED PLANTHREE MONTHS ENDED JUNE 30,SIX MONTHS ENDED JUNE 30,
(In Millions)2026202520262025
Service Cost$1.2 $1.2 $2.4 $2.4 
Interest Cost1.3 1.3 2.6 2.6 
Amortization
Net Actuarial Loss 1.1 1.1 2.2 2.2 
Net Periodic Pension Expense$3.6 $3.6 $7.2 $7.2 
NON-U.S. PENSION PLANSTHREE MONTHS ENDED JUNE 30,SIX MONTHS ENDED JUNE 30,
(In Millions)2026202520262025
Service Cost$1.3 $1.1 $2.8 $2.1 
Interest Cost1.6 1.4 3.2 2.7 
Expected Return on Plan Assets(2.0)(1.9)(4.1)(3.7)
Amortization
Net Actuarial Loss0.3 0.2 0.6 0.3 
Prior Service Cost0.3 — $0.8 $— 
Net Periodic Pension Expense$1.5 $0.8 $3.3 $1.4 
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.
The components of net periodic pension expense are recorded in Compensation and Benefits expense on the consolidated statements of income.
There were no contributions to the U.S. Qualified Plan during the six months ended June 30, 2026. There were $125.0 million of contributions to the U.S. Qualified Plan during the six months ended June 30, 2025. There were $7.2 million and $12.9 million of contributions to the U.S. Non-Qualified Plan during the six months ended June 30, 2026 and 2025, respectively.