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Reporting Segments
 6 Months Ended
Jun. 30, 2018
Segment Reporting [Abstract]  
Reporting Segments
Reporting Segments
The following table shows the earnings contributions of Northern Trust’s reporting segments for the three- and six-month periods ended June 30, 2018 and 2017.
Table 53: Results of Reporting Segments
Three Months Ended June 30,
Corporate &
Institutional Services
 
Wealth
Management
 
Treasury and
Other
 
Total
Consolidated
($ In Millions)
2018
 
2017
 
2018
 
2017
 
2018
 
2017
 
2018
 
2017
Noninterest Income
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Trust, Investment and Other Servicing Fees
$
552.2

 
$
487.1

 
$
390.7

 
$
361.1

 
$
—

 
$
—

 
$
942.9

 
$
848.2

Foreign Exchange Trading Income
60.1

 
50.6

 
1.0

 
0.8

 
17.8

 
(1.5
)
 
78.9

 
49.9

Other Noninterest Income
45.0

 
44.4

 
26.7

 
26.7

 
(0.7
)
 
10.5

 
71.0

 
81.6

Net Interest Income*
247.9

 
176.0

 
209.6

 
181.8

 
(34.9
)
 
(7.4
)
 
422.6

 
350.4

Revenue*
905.2

 
758.1

 
628.0

 
570.4

 
(17.8
)
 
1.6

 
1,515.4

 
1,330.1

Provision for Credit Losses
3.0

 
(2.7
)
 
(1.5
)
 
(4.3
)
 
—

 
—

 
1.5

 
(7.0
)
Noninterest Expense
599.3

 
545.6

 
369.5

 
350.9

 
28.6

 
40.9

 
997.4

 
937.4

Income before Income Taxes*
302.9

 
215.2

 
260.0

 
223.8

 
(46.4
)
 
(39.3
)
 
516.5

 
399.7

Provision for Income Taxes*
63.0

 
67.7

 
64.1

 
84.3

 
(1.0
)
 
(20.2
)
 
126.1

 
131.8

Net Income
$
239.9

 
$
147.5

 
$
195.9

 
$
139.5

 
$
(45.4
)
 
$
(19.1
)
 
$
390.4

 
$
267.9

Percentage of Consolidated Net Income
62
%
 
55
%
 
50
%
 
52
%
 
(12
)%
 
(7
)%
 
100
%
 
100
%
Average Assets
$
82,153.1

 
$
80,584.0

 
$
26,086.3

 
$
26,823.5

 
$
15,627.3

 
$
10,993.2

 
$
123,866.7

 
$
118,400.7

* Non-GAAP financial measures stated on a fully taxable equivalent basis (FTE). Total consolidated includes FTE adjustments of $9.3 million for 2018 and $8.9 million for 2017.
Six Months Ended June 30,
Corporate &
Institutional Services
 
Wealth
Management
 
Treasury and
Other
 
Total
Consolidated
($ In Millions)
2018
 
2017
 
2018
 
2017
 
2018
 
2017
 
2018
 
2017
Noninterest Income
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Trust, Investment and Other Servicing Fees
$
1,096.5

 
$
950.0

 
$
784.1

 
$
706.4

 
$
—

 
$
—

 
$
1,880.6

 
$
1,656.4

Foreign Exchange Trading Income
122.5

 
99.7

 
2.2

 
1.7

 
32.7

 
(3.4
)
 
157.4

 
98.0

Other Noninterest Income
91.6

 
88.6

 
52.4

 
52.2

 
2.8

 
15.4

 
146.8

 
156.2

Net Interest Income*
477.3

 
342.5

 
408.4

 
358.8

 
(70.4
)
 
11.5

 
815.3

 
712.8

Revenue*
1,787.9

 
1,480.8

 
1,247.1

 
1,119.1

 
(34.9
)
 
23.5

 
3,000.1

 
2,623.4

Provision for Credit Losses
(0.9
)
 
(2.4
)
 
(0.6
)
 
(5.6
)
 
—

 
—

 
(1.5
)
 
(8.0
)
Noninterest Expense
1,184.9

 
1,056.4

 
735.2

 
697.2

 
72.6

 
78.3

 
1,992.7

 
1,831.9

Income before Income Taxes*
603.9

 
426.8

 
512.5

 
427.5

 
(107.5
)
 
(54.8
)
 
1,008.9

 
799.5

Provision for Income Taxes*
129.8

 
134.6

 
126.5

 
161.1

 
(19.4
)
 
(40.2
)
 
236.9

 
255.5

Net Income
$
474.1

 
$
292.2

 
$
386.0

 
$
266.4

 
$
(88.1
)
 
$
(14.6
)
 
$
772.0

 
$
544.0

Percentage of Consolidated Net Income
61
%
 
54
%
 
50
%
 
49
%
 
(11
)%
 
(3
)%
 
100
%
 
100
%
Average Assets
$
82,891.4

 
$
79,201.4

 
$
26,097.1

 
$
26,743.1

 
$
15,189.8

 
11,499.3

 
$
124,178.3

 
$
117,443.8


* Non-GAAP financial measures stated on a fully taxable equivalent basis (FTE). Total consolidated includes FTE adjustments of $18.0 million for 2018 and $17.8 million for 2017.

Further discussion of reporting segment results is provided within the “Reporting Segments” section of Management’s Discussion and Analysis of Financial Condition and Results of Operations.