Northern Trust Corporation (Corporation only) (Tables) - Parent Company
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12 Months Ended |
Dec. 31, 2018 |
Condensed Financial Statements, Captions [Line Items] |
|
Condensed Balance Sheet |
| | | | | | | | | DECEMBER 31, | (In Millions) | 2018 |
| 2017 |
| ASSETS | | | Cash on Deposit with Subsidiary Bank | $ | 866.8 |
| $ | 1,002.5 |
| Debt Securities | — |
| 0.9 |
| Advances to Wholly-Owned Subsidiaries – Banks | 2,910.0 |
| 2,460.0 |
| – Nonbank | — |
| 13.5 |
| Investments in Wholly-Owned Subsidiaries – Banks | 9,585.2 |
| 9,223.9 |
| – Nonbank | 182.9 |
| 212.9 |
| Other Assets | 803.1 |
| 706.4 |
| Total Assets | $ | 14,348.0 |
| $ | 13,620.1 |
| LIABILITIES | | | Senior Notes | $ | 2,011.3 |
| $ | 1,497.3 |
| Long Term Debt | 1,112.4 |
| 1,129.6 |
| Floating Rate Capital Debt | 277.6 |
| 277.5 |
| Other Liabilities | 438.5 |
| 499.5 |
| Total Liabilities | 3,839.8 |
| 3,403.9 |
| STOCKHOLDERS’ EQUITY | | | Preferred Stock | 882.0 |
| 882.0 |
| Common Stock | 408.6 |
| 408.6 |
| Additional Paid-in Capital | 1,068.4 |
| 1,047.2 |
| Retained Earnings | 10,776.8 |
| 9,685.1 |
| Accumulated Other Comprehensive Income (Loss) | (453.7 | ) | (414.3 | ) | Treasury Stock | (2,173.9 | ) | (1,392.4 | ) | Total Stockholders’ Equity | 10,508.2 |
| 10,216.2 |
| Total Liabilities and Stockholders’ Equity | $ | 14,348.0 |
| $ | 13,620.1 |
|
|
Condensed Statement of Income |
| | | | | | | | | | | | FOR THE YEAR ENDED DECEMBER 31, | (In Millions) | 2018 |
| 2017 |
| 2016 |
| OPERATING INCOME | | | | Dividends – Bank Subsidiaries | $ | 1,200.9 |
| $ | 525.0 |
| $ | 300.0 |
| – Nonbank Subsidiaries | — |
| — |
| 3.4 |
| Intercompany Interest and Other Charges | 91.9 |
| 58.2 |
| 39.8 |
| Interest and Other Income | (8.7 | ) | 18.1 |
| 7.5 |
| Total Operating Income | 1,284.1 |
| 601.3 |
| 350.7 |
| OPERATING EXPENSES | | | | Interest Expense | 97.3 |
| 76.5 |
| 63.5 |
| Other Operating Expenses | 17.0 |
| 25.9 |
| 19.9 |
| Total Operating Expenses | 114.3 |
| 102.4 |
| 83.4 |
| Income before Income Taxes and Equity in Undistributed Net Income of Subsidiaries | 1,169.8 |
| 498.9 |
| 267.3 |
| Benefit for Income Taxes | 24.6 |
| 43.7 |
| 28.3 |
| Income before Equity in Undistributed Net Income of Subsidiaries | 1,194.4 |
| 542.6 |
| 295.6 |
| Equity in Undistributed Net Income of Subsidiaries – Banks | 336.7 |
| 632.6 |
| 708.3 |
| – Nonbank | 25.3 |
| 23.8 |
| 28.6 |
| Net Income | $ | 1,556.4 |
| $ | 1,199.0 |
| $ | 1,032.5 |
| Preferred Stock Dividends | 46.4 |
| 49.8 |
| 23.4 |
| Net Income Applicable to Common Stock | $ | 1,510.0 |
| $ | 1,149.2 |
| $ | 1,009.1 |
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Condensed Statement of Cash Flows |
| | | | | | | | | | | | FOR THE YEAR ENDED DECEMBER 31, | (In Millions) | 2018 |
| 2017 |
| 2016 |
| OPERATING ACTIVITIES: | | | | Net Income | $ | 1,556.4 |
| $ | 1,199.0 |
| $ | 1,032.5 |
| Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities: | | | | Equity in Undistributed Net Income of Subsidiaries | (362.0 | ) | (656.4 | ) | (736.9 | ) | Change in Prepaid Expenses | (0.6 | ) | (0.3 | ) | 3.0 |
| Change in Accrued Income Taxes | (141.8 | ) | 17.2 |
| (17.9 | ) | Other, net | 125.6 |
| 55.7 |
| 55.7 |
| Net Cash Provided by Operating Activities | 1,177.6 |
| 615.2 |
| 336.4 |
| INVESTING ACTIVITIES: | | | | Proceeds from Sale, Maturity and Redemption of Debt Securities – Available for Sale | 1.0 |
| — |
| 0.2 |
| Change in Capital Investments in Subsidiaries | — |
| — |
| (3.0 | ) | Advances to Wholly-Owned Subsidiaries | (436.5 | ) | 100.0 |
| (295.0 | ) | Acquisition of a Subsidiary, net of cash acquired | (31.2 | ) | — |
| — |
| Other, net | (3.1 | ) | 1.9 |
| 1.2 |
| Net Cash Used in Investing Activities | (469.8 | ) | 101.9 |
| (296.6 | ) | FINANCING ACTIVITIES: | | | | Proceeds from Senior Notes and Long-Term Debt | 497.9 |
| 350.0 |
| — |
| Proceeds from Issuance of Preferred Stock – Series D | — |
| — |
| 493.5 |
| Treasury Stock Purchased | (924.3 | ) | (523.1 | ) | (411.1 | ) | Net Proceeds from Stock Options | 32.6 |
| 108.0 |
| 233.8 |
| Cash Dividends Paid on Common Stock | (405.4 | ) | (356.8 | ) | (333.0 | ) | Cash Dividends Paid on Preferred Stock | (46.4 | ) | (49.8 | ) | (23.4 | ) | Other, net | 2.1 |
| 0.1 |
| (0.1 | ) | Net Cash Used in Financing Activities | (843.5 | ) | (471.6 | ) | (40.3 | ) | Net Change in Cash on Deposit with Subsidiary Bank | (135.7 | ) | 245.5 |
| (0.5 | ) | Cash on Deposit with Subsidiary Bank at Beginning of Year | 1,002.5 |
| 757.0 |
| 757.5 |
| Cash on Deposit with Subsidiary Bank at End of Year | $ | 866.8 |
| $ | 1,002.5 |
| $ | 757.0 |
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