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Allowance for Credit Losses (Tables)
 12 Months Ended
Dec. 31, 2022
Receivables [Abstract]  
Allowances for Credit Losses and Recorded Investments in Loans and Leases by Segment
The following table provides information regarding changes in the total allowance for credit losses.
TABLE 72: CHANGES IN THE ALLOWANCE FOR CREDIT LOSSES
2022
(In Millions)LOANS AND LEASESUNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDITHELD TO MATURITY DEBT SECURITIESOTHER FINANCIAL ASSETSTOTAL
Balance at Beginning of Period$138.4 $34.1 $11.2 $1.0 $184.7 
Charge-Offs(6.0)— — — (6.0)
Recoveries10.2 — — — 10.2 
Net Recoveries (Charge-Offs)4.2 — — — 4.2 
Provision for Credit Losses(1)
1.7 4.4 4.8 (0.2)10.7 
Balance at End of Period$144.3 $38.5 $16.0 $0.8 $199.6 
(1) The table excludes a provision for credit losses of $1.3 million for the year ended December 31, 2022 for AFS debt securities. See further detail in Note 4, “Securities.”

2021
(In Millions)LOANS AND LEASESUNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDITHELD TO MATURITY DEBT SECURITIESOTHER FINANCIAL ASSETSTOTAL
Balance at Beginning of Period$190.7 $61.1 $7.3 $0.8 $259.9 
Charge-Offs(0.7)— — — (0.7)
Recoveries7.0 — — — 7.0 
Net Recoveries (Charge-Offs)6.3 — — — 6.3 
Provision for Credit Losses(58.6)(27.0)3.9 0.2 (81.5)
Balance at End of Period$138.4 $34.1 $11.2 $1.0 $184.7 

2020
(In Millions)LOANS AND LEASESUNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDITHELD TO MATURITY DEBT SECURITIESOTHER FINANCIAL ASSETSTOTAL
Balance at End of Prior Period$104.5 $19.9 $— $— $124.4 
Cumulative Effect Adjustment(2.2)8.9 6.6 0.4 13.7 
Balance at Beginning of Period102.3 28.8 6.6 0.4 138.1 
Charge-Offs(9.7)— — — (9.7)
Recoveries6.5 — — — 6.5 
Net Recoveries (Charge-Offs)(3.2)— — — (3.2)
Provision for Credit Losses91.6 32.3 0.7 0.4 125.0 
Balance at End of Period$190.7 $61.1 $7.3 $0.8 $259.9 
The following table provides information regarding changes in the total allowance for credit losses related to loans and leases, including undrawn loan commitments and standby letters of credit, by segment.
TABLE 73: CHANGES IN THE ALLOWANCE FOR CREDIT LOSSES RELATED TO LOANS AND LEASES
2022
LOANS AND LEASESUNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDIT
(In Millions)COMMERCIALPERSONALTOTALCOMMERCIALPERSONALTOTAL
Balance at Beginning of Period$105.6 $32.8 $138.4 $31.4 $2.7 $34.1 
Charge-Offs(5.3)(0.7)(6.0)— — — 
Recoveries2.7 7.5 10.2 — — — 
Net Recoveries (Charge-Offs) (2.6)6.8 4.2 — — — 
Provision for Credit Losses13.2 (11.5)1.7 4.9 (0.5)4.4 
Balance at End of Period$116.2 $28.1 $144.3 $36.3 $2.2 $38.5 
2021
LOANS AND LEASESUNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDIT
(In Millions)COMMERCIALPERSONALTOTALCOMMERCIALPERSONALTOTAL
Balance at Beginning of Period$142.2 $48.5 $190.7 $57.6 $3.5 $61.1 
Charge-Offs(0.3)(0.4)(0.7)— — — 
Recoveries0.9 6.1 7.0 — — — 
Net Recoveries (Charge-Offs)0.6 5.7 6.3 — — — 
Provision for Credit Losses(37.2)(21.4)(58.6)(26.2)(0.8)(27.0)
Balance at End of Period$105.6 $32.8 $138.4 $31.4 $2.7 $34.1 
2020
LOANS AND LEASESUNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDIT
(In Millions)COMMERCIALPERSONALTOTALCOMMERCIALPERSONALTOTAL
Balance at End of Prior Period$58.1 $46.4 $104.5 $15.8 $4.1 $19.9 
Cumulative Effect Adjustment(5.9)3.7 (2.2)11.9 (3.0)8.9 
Balance at Beginning of Period$52.2 $50.1 $102.3 $27.7 $1.1 $28.8 
Charge-Offs(6.3)(3.4)(9.7)— — — 
Recoveries2.4 4.1 6.5 — — — 
Net Recoveries (Charge-Offs)(3.9)0.7 (3.2)— — — 
Provision for Credit Losses93.9 (2.3)91.6 29.9 2.4 32.3 
Balance at End of Period$142.2 $48.5 $190.7 $57.6 $3.5 $61.1 
The following table provides information regarding the recorded investments in loans and leases and the allowance for credit losses for loans and leases and undrawn loan commitments and standby letters of credit by segment as of December 31, 2022 and 2021.

TABLE 74: RECORDED INVESTMENTS IN LOANS AND LEASES
DECEMBER 31, 2022DECEMBER 31, 2021
(In Millions)COMMERCIALPERSONALTOTALCOMMERCIALPERSONALTOTAL
Loans and Leases
Evaluated on an Individual Basis$63.0 $46.1 $109.1 $92.1 $74.5 $166.6 
Evaluated on a Collective Basis21,572.6 21,211.6 42,784.2 18,395.3 21,918.7 40,314.0 
Total Loans and Leases21,635.6 21,257.7 42,893.3 18,487.4 21,993.2 40,480.6 
Allowance for Credit Losses on Loans and Leases
Evaluated on an Individual Basis10.4 — 10.4 10.1 — 10.1 
Evaluated on a Collective Basis105.8 28.1 133.9 95.5 32.8 128.3 
Allowance Assigned to Loans and Leases116.2 28.1 144.3 105.6 32.8 138.4 
Allowance for Undrawn Loan Commitments and Standby Letters of Credit
Evaluated on an Individual Basis— — — — — — 
Evaluated on a Collective Basis36.3 2.2 38.5 31.4 2.7 34.1 
Allowance Assigned to Undrawn Loan Commitments and Standby Letters of Credit36.3 2.2 38.5 31.4 2.7 34.1 
Total Allowance Assigned to Loans and Leases and Undrawn Loan Commitments and Standby Letters of Credit$152.5 $30.3 $182.8 $137.0 $35.5 $172.5 
Debt Securities, Held-to-maturity, Allowance for Credit Loss The following table provides information regarding changes in the total allowance for credit losses for HTM debt securities during 2022 and 2021.
TABLE 75: CHANGES IN THE ALLOWANCE FOR CREDIT LOSSES RELATED TO HELD TO MATURITY DEBT SECURITIES
2022
(In Millions)CORPORATE DEBTNON-U.S. GOVERNMENTSUB-SOVEREIGN, SUPRANATIONAL, AND NON-U.S. AGENCY BONDS
OBLIGATIONS OF STATES AND POLITICAL SUBDIVISIONS (1)
COVERED BONDSOTHERTOTAL
Balance at Beginning of Period$1.4 $1.9 $3.0 $— $0.1 $4.8 $11.2 
Provision for Credit Losses0.5 1.7 1.0 1.5 — 0.1 4.8 
Balance at End of Period$1.9 $3.6 $4.0 $1.5 $0.1 $4.9 $16.0 
(1) The allowance for Obligations of States and Political Subdivisions is related to (non pre-refunded) municipal securities that do not fall under Northern Trust’s zero-loss assumption.
2021
(In Millions)CORPORATE DEBTNON-U.S. GOVERNMENTSUB-SOVEREIGN, SUPRANATIONAL, AND NON-U.S. AGENCY BONDSOBLIGATIONS OF STATES AND POLITICAL SUBDIVISIONSCOVERED BONDSOTHERTOTAL
Balance at Beginning of Period$0.8 $0.2 $1.2 $— $0.1 $5.0 $7.3 
Provision for Credit Losses0.6 1.7 1.8 — — (0.2)3.9 
Balance at End of Period$1.4 $1.9 $3.0 $— $0.1 $4.8 $11.2 
Schedule of Accrued Interest
The following table provides the amount of accrued interest excluded from the amortized cost basis of the following portfolios.

TABLE 76: ACCRUED INTEREST
(In Millions)DECEMBER 31, 2022DECEMBER 31, 2021
Loans and Leases$203.1 $62.6 
Debt Securities
Held to Maturity63.2 30.4 
Available for Sale147.1 129.7 
Other Financial Assets43.8 2.3 
Total$457.2 $225.0