Offsetting of Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2014

Securities Purchased Under Agreements to Resell and Derivative Assets in the Consolidated Balance Sheet

The following tables provide information regarding the offsetting of derivative assets and securities purchased under agreements to resell within the consolidated balance sheet as of September 30, 2014, and December 31, 2013.

September 30, 2014
(In Millions)	Gross Recognized Assets		Gross Amounts Offset		Net Amounts Presented		Gross Amounts Not Offset		Net Amount (3)
Derivative Assets (1)
Foreign Exchange Contracts Over the Counter (OTC)	$	3,265.0	$	2,085.0	$	1,180.0	$	—	$	1,180.0
Interest Rate Swaps OTC		183.7		31.5		152.2		—		152.2
Interest Rate Swaps Exchange Cleared		29.8		7.4		22.4		—		22.4
Cross Product Netting Adjustment		—		27.1		—		—		—
Cross Product Collateral Adjustment		—		207.4		—		—		—
Total Derivatives Subject to a Master Netting Arrangement		3,478.5		2,358.4		1,120.1		—		1,120.1
Total Derivatives Not Subject to a Master Netting Arrangement		938.8		—		938.8		—		938.8
Total Derivatives		4,417.3		2,358.4		2,058.9		—		2,058.9
Securities Purchased under Agreements to Resell (2)	$	1,000.0	$	—	$	1,000.0	$	1,000.0	$	—

December 31, 2013
(In Millions)	Gross Recognized Assets		Gross Amounts Offset		Net Amounts Presented		Gross Amounts Not Offset		Net Amount (3)
Derivative Assets (1)
Foreign Exchange Contracts OTC	$	2,612.5	$	1,073.3	$	1,539.2	$	—	$	1,539.2
Interest Rate Swaps OTC		228.8		47.5		181.3		—		181.3
Interest Rate Swaps Exchange Cleared		9.1		9.1		—		—		—
Cross Product Netting Adjustment		—		28.4		—		—		—
Cross Product Collateral Adjustment		—		210.7		—		—		—
Total Derivatives Subject to a Master Netting Arrangement		2,850.4		1,369.0		1,481.4		—		1,481.4
Total Derivatives Not Subject to a Master Netting Arrangement		253.2		—		253.2		—		253.2
Total Derivatives		3,103.6		1,369.0		1,734.6		—		1,734.6
Securities Purchased under Agreements to Resell (2)	$	500.0	$	—	$	500.0	$	500.0	$	—

(1) Derivative assets are reported in other assets in the consolidated balance sheet. Other assets (excluding derivative assets) totaled $3,230.9 million and $3,029.4 million as of September 30, 2014, and December 31, 2013, respectively.

(2) Securities purchased under agreements to resell are reported in federal funds sold and securities purchased under agreements to resell in the consolidated balance sheet. Federal funds sold totaled $10.0 million and $29.6 million as of September 30, 2014, and December 31, 2013, respectively.

(3) Northern Trust did not possess any cash collateral that was not offset in the consolidated balance sheet that could have been used to offset the net amounts presented in the consolidated balance sheet as of September 30, 2014, and December 31, 2013.

Securities Sold Under Agreements to Repurchase and Derivative Liabilities in the Consolidated Balance Sheet

The following tables provide information regarding the offsetting of derivative liabilities and securities sold under agreements to repurchase within the consolidated balance sheet as of September 30, 2014, and December 31, 2013.

September 30, 2014
(In Millions)	Gross Recognized Liabilities		Gross Amounts Offset		Net Amounts Presented		Gross Amounts Not Offset		Net Amount (2)
Derivative Liabilities (1)
Foreign Exchange Contracts OTC	$	3,404.3	$	2,085.0	$	1,319.3	$	—	$	1,319.3
Interest Rate Swaps OTC		116.1		31.5		84.6		—		84.6
Interest Rate Swaps Exchange Cleared		7.4		7.4		—		—		—
Cross Product Netting Adjustment		—		27.1		—		—		—
Cross Product Collateral Adjustment		—		601.3		—		—		—
Total Derivatives Subject to a Master Netting Arrangement		3,527.8		2,752.3		775.5		—		775.5
Total Derivatives Not Subject to a Master Netting Arrangement		737.3		—		737.3		—		737.3
Total Derivatives		4,265.1		2,752.3		1,512.8		—		1,512.8
Securities Sold under Agreements to Repurchase	$	866.8	$	—	$	866.8	$	866.8	$	—

December 31, 2013
(In Millions)	Gross Recognized Liabilities		Gross Amounts Offset		Net Amounts Presented		Gross Amounts Not Offset		Net Amount (2)
Derivative Liabilities (1)
Foreign Exchange Contracts OTC	$	2,039.0	$	1,073.3	$	965.7	$	—	$	965.7
Interest Rate Swaps OTC		163.7		47.5		116.2		—		116.2
Interest Rate Swaps Exchange Cleared		31.5		9.1		22.4		—		22.4
Cross Product Netting Adjustment		—		28.4		—		—		—
Cross Product Collateral Adjustment		—		767.7		—		—		—
Total Derivatives Subject to a Master Netting Arrangement		2,234.2		1,926.0		308.2		—		308.2
Total Derivatives Not Subject to a Master Netting Arrangement		866.7		—		866.7				866.7
Total Derivatives		3,100.9		1,926.0		1,174.9		—		1,174.9
Securities Sold under Agreements to Repurchase	$	917.3	$	—	$	917.3	$	917.3	$	—

(1) Derivative liabilities are reported in other liabilities in the consolidated balance sheet. Other liabilities (excluding derivative liabilities) totaled $2,591.5 million and $2,338.4 million as of September 30, 2014, and December 31, 2013, respectively.

(2) Northern Trust did not place any cash collateral with counterparties that was not offset in the consolidated balance sheet that could have been used to offset the net amounts presented in the consolidated balance sheet as of September 30, 2014, and December 31, 2013.