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Northern Trust Corporation (Corporation only) (Tables) - Parent Company
12 Months Ended
Dec. 31, 2020
Condensed Financial Statements, Captions [Line Items]  
Condensed Balance Sheet
DECEMBER 31,
(In Millions)20202019
ASSETS
Cash on Deposit with Subsidiary Bank$2,516.0 $2,559.1 
Advances to Wholly-Owned Subsidiaries – Banks2,670.0 2,370.0 
Investments in Wholly-Owned Subsidiaries – Banks10,799.9 9,349.8 
                                – Nonbank172.8 163.0 
Other Assets900.9 1,444.7 
Total Assets$17,059.6 $15,886.6 
LIABILITIES
Senior Notes$3,122.4 $2,573.0 
Long Term Debt1,189.3 1,148.1 
Floating Rate Capital Debt277.8 277.7 
Other Liabilities781.8 796.8 
Total Liabilities5,371.3 4,795.6 
STOCKHOLDERS’ EQUITY
Preferred Stock884.9 1,273.4 
Common Stock408.6 408.6 
Additional Paid-in Capital963.6 1,013.1 
Retained Earnings12,207.7 11,656.7 
Accumulated Other Comprehensive Income (Loss)428.0 (194.7)
Treasury Stock(3,204.5)(3,066.1)
Total Stockholders’ Equity11,688.3 11,091.0 
Total Liabilities and Stockholders’ Equity$17,059.6 $15,886.6 
Condensed Statement of Income
FOR THE YEAR ENDED DECEMBER 31,
(In Millions)202020192018
OPERATING INCOME
Dividends – Bank Subsidiaries$900.0 $2,024.1 $1,200.9 
                 – Nonbank Subsidiaries 0.4 — 
Intercompany Interest and Other Charges46.5 115.1 91.9 
Interest and Other Income19.1 20.2 (8.7)
Total Operating Income965.6 2,159.8 1,284.1 
OPERATING EXPENSES
Interest Expense104.2 121.6 97.3 
Other Operating Expenses26.2 28.6 17.0 
Total Operating Expenses130.4 150.2 114.3 
Income before Income Taxes and Equity in Undistributed Net Income of Subsidiaries835.2 2,009.6 1,169.8 
Benefit for Income Taxes28.2 24.3 24.6 
Income before Equity in Undistributed Net Income of Subsidiaries863.4 2,033.9 1,194.4 
Equity in Undistributed Net Income of Subsidiaries – Banks326.0 (559.9)336.7 
                                         – Nonbank19.9 18.2 25.3 
Net Income$1,209.3 $1,492.2 $1,556.4 
Preferred Stock Dividends56.2 46.4 46.4 
Net Income Applicable to Common Stock$1,153.1 $1,445.8 $1,510.0 
Condensed Statement of Cash Flows
FOR THE YEAR ENDED DECEMBER 31,
(In Millions)202020192018
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income$1,209.3 $1,492.2 $1,556.4 
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities
Equity in Undistributed Net Income of Subsidiaries(345.9)541.7 (362.0)
Change in Prepaid Expenses398.5 (400.4)(0.6)
Change in Accrued Income Taxes3.7 114.1 (141.8)
Other Operating Activities, net300.3 141.9 125.6 
Net Cash Provided by Operating Activities1,565.9 1,889.5 1,177.6 
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from Sale, Maturity and Redemption of Debt Securities – Available for Sale — 1.0 
Investments in and Advances to Subsidiaries, net(800.0)540.0 (436.5)
Acquisition of a Business, Net of Cash Received — (31.2)
Other Investing Activities, net1.8 3.7 (3.1)
Net Cash (Used in) Provided by Investing Activities(798.2)543.7 (469.8)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from Senior Notes993.2 498.0 497.9 
Repayments of Senior Notes(508.6)— — 
Redemption of Preferred Stock - Series C(400.0)— — 
Proceeds from Issuance of Preferred Stock - Series E 392.5 — 
Treasury Stock Purchased(299.8)(1,100.2)(924.3)
Net Proceeds from Stock Options19.5 44.0 32.6 
Cash Dividends Paid on Common Stock(584.6)(529.7)(405.4)
Cash Dividends Paid on Preferred Stock(45.9)(46.4)(46.4)
Other Financing Activities, net15.4 0.9 2.1 
Net Cash (Used In) Provided by Financing Activities(810.8)(740.9)(843.5)
Net Change in Cash on Deposit with Subsidiary Bank(43.1)1,692.3 (135.7)
Cash on Deposit with Subsidiary Bank at Beginning of Year2,559.1 866.8 1,002.5 
Cash on Deposit with Subsidiary Bank at End of Year$2,516.0 $2,559.1 $866.8