| Earnings Contribution of Northern Trust's Reporting Segments |
The following tables reflect the earnings contribution and average assets of Northern Trust’s reporting segments for the years ended December 31, 2019, 2018, and 2017.
TABLE 144: CORPORATE AND INSTITUTIONAL SERVICES RESULTS OF OPERATIONS | | | | | | | | | | | | FOR THE YEAR ENDED DECEMBER 31, | ($ In Millions) | 2019 |
| 2018 |
| 2017 |
| Noninterest Income | | Trust, Investment and Other Servicing Fees | $ | 2,211.5 |
| $ | 2,173.1 |
| $ | 1,984.6 |
| Foreign Exchange Trading Income | 232.2 |
| 233.4 |
| 197.9 |
| Other Noninterest Income | 178.2 |
| 183.0 |
| 176.1 |
| Total Noninterest Income | 2,621.9 |
| 2,589.5 |
| 2,358.6 |
| Net Interest Income(1) | 918.7 |
| 992.2 |
| 733.8 |
| | | | | Revenue(1) | 3,540.6 |
| 3,581.7 |
| 3,092.4 |
| Provision for Credit Losses | 1.9 |
| 1.9 |
| 3.4 |
| Noninterest Expense | 2,605.5 |
| 2,421.4 |
| 2,194.5 |
| | | | | Income before Income Taxes(1) | 933.2 |
| 1,158.4 |
| 894.5 |
| Provision for Income Taxes(1) | 219.4 |
| 255.3 |
| 279.5 |
| | | | | Net Income | $ | 713.8 |
| $ | 903.1 |
| $ | 615.0 |
| | | | | Percentage of Consolidated Net Income | 48 | % | 58 | % | 51 | % | | | | | Average Assets | $ | 87,557.1 |
| $ | 82,996.5 |
| $ | 80,105.6 |
|
(1) Stated on an FTE basis.
TABLE 145: WEALTH MANAGEMENT RESULTS OF OPERATIONS | | | | | | | | | | | | FOR THE YEAR ENDED DECEMBER 31, | ($ In Millions) | 2019 |
| 2018 |
| 2017 |
| Noninterest Income | | Trust, Investment and Other Servicing Fees | $ | 1,640.6 |
| $ | 1,580.6 |
| $ | 1,449.7 |
| Foreign Exchange Trading Income | 18.7 |
| 4.2 |
| 3.1 |
| Other Noninterest Income | 131.1 |
| 102.7 |
| 103.9 |
| Total Noninterest Income | 1,790.4 |
| 1,687.5 |
| 1,556.7 |
| Net Interest Income(1) | 792.0 |
| 816.5 |
| 736.2 |
| | | | | Revenue(1) | 2,582.4 |
| 2,504.0 |
| 2,292.9 |
| Provision for Credit Losses | (16.4 | ) | (16.4 | ) | (31.4 | ) | Noninterest Expense | 1,531.6 |
| 1,460.0 |
| 1,405.3 |
| | | | | Income before Income Taxes(1) | 1,067.2 |
| 1,060.4 |
| 919.0 |
| Provision for Income Taxes(1) | 271.1 |
| 262.1 |
| 347.2 |
| | | | | Net Income | $ | 796.1 |
| $ | 798.3 |
| $ | 571.8 |
| | | | | Percentage of Consolidated Net Income | 53 | % | 51 | % | 48 | % | | | | | Average Assets | $ | 29,994.3 |
| $ | 26,163.7 |
| $ | 26,599.9 |
|
(1) Stated on an FTE basis.
TABLE 146: TREASURY AND OTHER RESULTS OF OPERATIONS | | | | | | | | | | | | FOR THE YEAR ENDED DECEMBER 31, | ($ In Millions) | 2019 |
| 2018 |
| 2017 |
| Noninterest Income | $ | (17.1 | ) | $ | 60.5 |
| $ | 30.8 |
| Net Interest Income(1) | — |
| (144.8 | ) | 5.0 |
| | | | | Revenue(1) | (17.1 | ) | (84.3 | ) | 35.8 |
| Noninterest Expense | 6.4 |
| 135.5 |
| 169.6 |
| | | | | Income (Loss) before Income Taxes(1) | (23.5 | ) | (219.8 | ) | (133.8 | ) | Provision (Benefit) for Income Taxes(1) | (5.8 | ) | (74.8 | ) | (146.0 | ) | | | | | Net Income | $ | (17.7 | ) | $ | (145.0 | ) | $ | 12.2 |
| | | | | Percentage of Consolidated Net Income | (1 | )% | (9 | )% | 1 | % | | | | | Average Assets | $ | — |
| $ | 13,786.4 |
| $ | 12,901.9 |
|
(1) Stated on an FTE basis.
TABLE 147: CONSOLIDATED FINANCIAL INFORMATION | | | | | | | | | | | | FOR THE YEAR ENDED DECEMBER 31, | (In Millions) | 2019 |
| 2018 |
| 2017 |
| Noninterest Income | | | | Trust, Investment and Other Servicing Fees | $ | 3,852.1 |
| $ | 3,753.7 |
| $ | 3,434.3 |
| Foreign Exchange Trading Income | 250.9 |
| 307.2 |
| 209.9 |
| Other Noninterest Income | 292.2 |
| 276.6 |
| 301.9 |
| Total Noninterest Income | 4,395.2 |
| 4,337.5 |
| 3,946.1 |
| Net Interest Income(1) | 1,710.7 |
| 1,663.9 |
| 1,475.0 |
| | | | | Revenue(1) | 6,105.9 |
| 6,001.4 |
| 5,421.1 |
| Provision for Credit Losses | (14.5 | ) | (14.5 | ) | (28.0 | ) | Noninterest Expense | 4,143.5 |
| 4,016.9 |
| 3,769.4 |
| | | | | Income before Income Taxes(1) | 1,976.9 |
| 1,999.0 |
| 1,679.7 |
| Provision for Income Taxes(1) | 484.7 |
| 442.6 |
| 480.7 |
| | | | | Net Income | $ | 1,492.2 |
| $ | 1,556.4 |
| $ | 1,199.0 |
| | | | | Average Assets | $ | 117,551.4 |
| $ | 122,946.6 |
| $ | 119,607.4 |
|
(1) Stated on an FTE basis. The consolidated figures include $32.8 million, $41.2 million, and $45.8 million, of FTE adjustments for 2019, 2018, and 2017, respectively.
|
| Distribution of Total Assets and Operating Performance |
The table below summarizes Northern Trust’s performance based on the allocation process described above without regard to guarantors or the location of collateral.
TABLE 148: DISTRIBUTION OF TOTAL ASSETS AND OPERATING PERFORMANCE | | | | | | | | | | | | | | (In Millions) | TOTAL ASSETS |
| TOTAL REVENUE(1) |
| INCOME BEFORE INCOME TAXES |
| NET INCOME |
| 2019 | | | | | Non-U.S. | $ | 27,888.6 |
| $ | 1,889.5 |
| $ | 600.0 |
| $ | 451.0 |
| U.S. | 108,939.8 |
| 4,183.6 |
| 1,344.1 |
| 1,041.2 |
| | | | | | Total | $ | 136,828.4 |
| $ | 6,073.1 |
| $ | 1,944.1 |
| $ | 1,492.2 |
| | | | | | 2018 | | | | | Non-U.S. | $ | 32,712.9 |
| $ | 2,018.1 |
| $ | 786.4 |
| $ | 625.7 |
| U.S. | 99,499.6 |
| 3,942.1 |
| 1,171.4 |
| 930.7 |
| | | | | | Total | $ | 132,212.5 |
| $ | 5,960.2 |
| $ | 1,957.8 |
| $ | 1,556.4 |
| | | | | | 2017 | | | | | Non-U.S. | $ | 30,325.3 |
| $ | 1,709.7 |
| $ | 613.5 |
| $ | 430.0 |
| U.S. | 108,265.2 |
| 3,665.6 |
| 1,020.4 |
| 769.0 |
| | | | | | Total | $ | 138,590.5 |
| $ | 5,375.3 |
| $ | 1,633.9 |
| $ | 1,199.0 |
|
(1) Total revenue is comprised of net interest income and noninterest income.
|