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Pension and Postretirement Health Care (Tables)
 6 Months Ended
Jun. 30, 2022
Retirement Benefits [Abstract]  
Net Periodic Pension Expense (Benefit)
The following table sets forth the net periodic pension and postretirement benefit expense for Northern Trust’s U.S. Qualified Plan, Non-U.S. Pension Plans, U.S. Non-Qualified Plan, and postretirement health care plan for the three and six months ended June 30, 2022 and 2021.
TABLE 70: NET PERIODIC PENSION EXPENSE (BENEFIT)
U.S. QUALIFIED PLANTHREE MONTHS ENDED JUNE 30,SIX MONTHS ENDED JUNE 30,
(In Millions)2022202120222021
Service Cost$13.2 $13.2 $26.4 $26.4 
Interest Cost10.3 9.8 20.6 19.6 
Expected Return on Plan Assets(20.2)(20.1)(40.4)(40.2)
Amortization
Net Actuarial Loss5.7 9.4 11.4 18.8 
Prior Service Cost (Credit)— (0.1)(0.1)(0.2)
Net Periodic Pension Expense$9.0 $12.2 $17.9 $24.4 
Settlement Expense20.3 17.6 20.3 17.6 
Total Pension Expense$29.3 $29.8 $38.2 $42.0 
NON-U.S. PENSION PLANSTHREE MONTHS ENDED JUNE 30,SIX MONTHS ENDED JUNE 30,
(In Millions)2022202120222021
Service Cost$0.5 $0.6 $0.9 $1.1 
Interest Cost0.6 0.5 1.3 1.1 
Expected Return on Plan Assets(0.8)(0.7)(1.5)(1.3)
Amortization
Net Actuarial Loss0.2 0.2 0.4 0.5 
Prior Service Cost— 0.1 — 0.1 
Net Periodic Pension Expense$0.5 $0.7 $1.1 $1.5 
Settlement Expense— 0.7 0.7 0.9 
Total Pension Expense$0.5 $1.4 $1.8 $2.4 
U.S. NON-QUALIFIED PLANTHREE MONTHS ENDED JUNE 30,SIX MONTHS ENDED JUNE 30,
(In Millions)2022202120222021
Service Cost$1.4 $1.3 $2.8 $2.6 
Interest Cost1.0 1.0 2.0 1.9 
Amortization
Net Actuarial Loss 1.8 2.0 3.6 4.1 
Net Periodic Pension Expense$4.2 $4.3 $8.4 $8.6 
POSTRETIREMENT HEALTH CARE PLANTHREE MONTHS ENDED JUNE 30,SIX MONTHS ENDED JUNE 30,
(In Millions)2022202120222021
Service Cost$— $— $— $— 
Interest Cost0.1 0.1 0.2 0.2 
Amortization
Net Actuarial (Gain)(0.1)— (0.2)(0.1)
Prior Service Cost (Credit)(0.2)(0.3)(0.4)(0.5)
Net Periodic Postretirement (Benefit)$(0.2)$(0.2)$(0.4)$(0.4)