Offsetting of Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of offsetting derivative assets and securities purchased under agreements to resell

The following tables provide information regarding the offsetting of derivative assets and securities purchased under agreements to resell within the consolidated balance sheets as of June 30, 2016 and December 31, 2015.

Table 67: Offsetting of Derivative Assets and Securities Purchased Under Agreements to Resell



June 30, 2016
(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)	$	3,113.3	$	2,107.2	$	1,006.1		$	—	$	1,006.1
Interest Rate Swaps OTC	258.7		23.1		235.6			—		235.6
Interest Rate Swaps Exchange Cleared	115.8		136.4		(20.6		)	—		(20.6		)
Cross Product Netting Adjustment	—		133.9		—			—		—
Cross Product Collateral Adjustment	—		205.8		—			—		—
Total Derivatives Subject to a Master Netting Arrangement	3,487.8		2,606.4		881.4			—		881.4
Total Derivatives Not Subject to a Master Netting Arrangement	1,624.4		—		1,624.4			—		1,624.4
Total Derivatives	$	5,112.2	$	2,606.4	$	2,505.8		$	—	$	2,505.8
Securities Purchased under Agreements to Resell ⁽²⁾	$	1,848.7	$	—	$	1,848.7		$	1,848.7	$	—



December 31, 2015
(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	$	1,636.0	$	1,194.3	$	441.7	$	—	$	441.7
Interest Rate Swaps OTC	170.3		21.5		148.8		—		148.8
Interest Rate Swaps Exchange Cleared	58.2		38.1		20.1		—		20.1
Cross Product Netting Adjustment	—		23.5		—		—		—
Cross Product Collateral Adjustment	—		322.8		—		—		—
Total Derivatives Subject to a Master Netting Arrangement	1,864.5		1,600.2		264.3		—		264.3
Total Derivatives Not Subject to a Master Netting Arrangement	987.4		—		987.4		—		987.4
Total Derivatives	2,851.9		1,600.2		1,251.7		—		1,251.7
Securities Purchased under Agreements to Resell ⁽²⁾	$	1,600.0	$	—	$	1,600.0	$	1,600.0	$	—


⁽¹⁾	Derivative assets are reported in other assets in the consolidated balance sheets. Other assets (excluding derivative assets) totaled $3.3 billion and $3.2 billion as of June 30, 2016 and December 31, 2015, 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 sheets. Federal funds sold totaled $14.0 million and $14.2 million as of June 30, 2016 and December 31, 2015, respectively.


⁽³⁾	Northern Trust did not possess any cash collateral that was not offset in the consolidated balance sheets that could have been used to offset the net amounts presented in the consolidated balance sheets as of June 30, 2016 and December 31, 2015.

Schedule of offsetting derivative liabilities and securities sold under agreements to repurchase

The following tables provide information regarding the offsetting of derivative liabilities and securities sold under agreements to repurchase within the consolidated balance sheets as of June 30, 2016 and December 31, 2015.

Table 68: Offsetting of Derivative Liabilities and Securities Sold Under Agreements to Repurchase



June 30, 2016
(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	$	3,821.0	$	2,107.2	$	1,713.8	$	—	$	1,713.8
Interest Rate Swaps OTC	133.0		23.1		109.9		—		109.9
Interest Rate Swaps Exchange Cleared	136.4		136.4		—		—		—
Other Financial Derivatives	28.8		—		28.8		—		28.8
Cross Product Netting Adjustment	—		133.9		—		—		—
Cross Product Collateral Adjustment	—		1,377.7		—		—		—
Total Derivatives Subject to a Master Netting Arrangement	4,119.2		3,778.3		340.9		—		340.9
Total Derivatives Not Subject to a Master Netting Arrangement	874.2		—		874.2		—		874.2
Total Derivatives	4,993.4		3,778.3		1,215.1		—		1,215.1
Securities Sold under Agreements to Repurchase	$	565.5	$	—	$	565.5	$	565.5	$	—



December 31, 2015
(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	$	2,119.7	$	1,194.3	$	925.4	$	—	$	925.4
Interest Rate Swaps OTC	93.1		21.5		71.6		—		71.6
Interest Rate Swaps Exchange Cleared	38.1		38.1		—		—		—
Other Financial Derivatives	10.9		—		10.9				10.9
Cross Product Netting Adjustment	—		23.5		—		—		—
Cross Product Collateral Adjustment	—		440.2		—		—		—
Total Derivatives Subject to a Master Netting Arrangement	2,261.8		1,717.6		544.2		—		544.2
Total Derivatives Not Subject to a Master Netting Arrangement	399.7		—		399.7		—		399.7
Total Derivatives	2,661.5		1,717.6		943.9		—		943.9
Securities Sold under Agreements to Repurchase	$	546.6	$	—	$	546.6	$	546.6	$	—


⁽¹⁾	Derivative liabilities are reported in other liabilities in the consolidated balance sheets. Other liabilities (excluding derivative liabilities) totaled $2.2 billion and $2.1 billion as of June 30, 2016 and December 31, 2015, respectively.


⁽²⁾	Northern Trust did not place any cash collateral with counterparties that was not offset in the consolidated balance sheets that could have been used to offset the net amounts presented in the consolidated balance sheets as of June 30, 2016 and December 31, 2015.