Northern Trust Corporation (Corporation only) (Tables) - Parent Company
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12 Months Ended |
Dec. 31, 2020 |
Condensed Financial Statements, Captions [Line Items] |
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Condensed Balance Sheet |
| | | | | | | | | | DECEMBER 31, | (In Millions) | 2020 | 2019 | ASSETS | | | Cash on Deposit with Subsidiary Bank | $ | 2,516.0 | | $ | 2,559.1 | | Advances to Wholly-Owned Subsidiaries – Banks | 2,670.0 | | 2,370.0 | | Investments in Wholly-Owned Subsidiaries – Banks | 10,799.9 | | 9,349.8 | | – Nonbank | 172.8 | | 163.0 | | Other Assets | 900.9 | | 1,444.7 | | Total Assets | $ | 17,059.6 | | $ | 15,886.6 | | LIABILITIES | | | Senior Notes | $ | 3,122.4 | | $ | 2,573.0 | | Long Term Debt | 1,189.3 | | 1,148.1 | | Floating Rate Capital Debt | 277.8 | | 277.7 | | Other Liabilities | 781.8 | | 796.8 | | Total Liabilities | 5,371.3 | | 4,795.6 | | STOCKHOLDERS’ EQUITY | | | Preferred Stock | 884.9 | | 1,273.4 | | Common Stock | 408.6 | | 408.6 | | Additional Paid-in Capital | 963.6 | | 1,013.1 | | Retained Earnings | 12,207.7 | | 11,656.7 | | Accumulated Other Comprehensive Income (Loss) | 428.0 | | (194.7) | | Treasury Stock | (3,204.5) | | (3,066.1) | | Total Stockholders’ Equity | 11,688.3 | | 11,091.0 | | Total Liabilities and Stockholders’ Equity | $ | 17,059.6 | | $ | 15,886.6 | |
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Condensed Statement of Income |
| | | | | | | | | | | | | FOR THE YEAR ENDED DECEMBER 31, | (In Millions) | 2020 | 2019 | 2018 | OPERATING INCOME | | | | Dividends – Bank Subsidiaries | $ | 900.0 | | $ | 2,024.1 | | $ | 1,200.9 | | – Nonbank Subsidiaries | — | | 0.4 | | — | | Intercompany Interest and Other Charges | 46.5 | | 115.1 | | 91.9 | | Interest and Other Income | 19.1 | | 20.2 | | (8.7) | | Total Operating Income | 965.6 | | 2,159.8 | | 1,284.1 | | OPERATING EXPENSES | | | | Interest Expense | 104.2 | | 121.6 | | 97.3 | | Other Operating Expenses | 26.2 | | 28.6 | | 17.0 | | Total Operating Expenses | 130.4 | | 150.2 | | 114.3 | | Income before Income Taxes and Equity in Undistributed Net Income of Subsidiaries | 835.2 | | 2,009.6 | | 1,169.8 | | Benefit for Income Taxes | 28.2 | | 24.3 | | 24.6 | | Income before Equity in Undistributed Net Income of Subsidiaries | 863.4 | | 2,033.9 | | 1,194.4 | | Equity in Undistributed Net Income of Subsidiaries – Banks | 326.0 | | (559.9) | | 336.7 | | – Nonbank | 19.9 | | 18.2 | | 25.3 | | Net Income | $ | 1,209.3 | | $ | 1,492.2 | | $ | 1,556.4 | | Preferred Stock Dividends | 56.2 | | 46.4 | | 46.4 | | Net Income Applicable to Common Stock | $ | 1,153.1 | | $ | 1,445.8 | | $ | 1,510.0 | |
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Condensed Statement of Cash Flows |
| | | | | | | | | | | | | FOR THE YEAR ENDED DECEMBER 31, | (In Millions) | 2020 | 2019 | 2018 | 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 Expenses | 398.5 | | (400.4) | | (0.6) | | Change in Accrued Income Taxes | 3.7 | | 114.1 | | (141.8) | | Other Operating Activities, net | 300.3 | | 141.9 | | 125.6 | | Net Cash Provided by Operating Activities | 1,565.9 | | 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, net | 1.8 | | 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 Notes | 993.2 | | 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 Options | 19.5 | | 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, net | 15.4 | | 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 Year | 2,559.1 | | 866.8 | | 1,002.5 | | Cash on Deposit with Subsidiary Bank at End of Year | $ | 2,516.0 | | $ | 2,559.1 | | $ | 866.8 | |
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