XML 87 R68.htm IDEA: XBRL DOCUMENT v3.22.4
Offsetting of Assets and Liabilities (Tables)
 12 Months Ended
Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Securities Purchased Under Agreements to Resell and Derivative Assets in the Consolidated Balance Sheet
The following table provides information regarding the offsetting of derivative assets and of securities purchased under agreements to resell within the consolidated balance sheets as of December 31, 2022 and 2021.

TABLE 127: OFFSETTING OF DERIVATIVE ASSETS AND SECURITIES PURCHASED UNDER AGREEMENTS TO RESELL
DECEMBER 31, 2022
(In Millions)GROSS
RECOGNIZED
ASSETS
GROSS AMOUNTS OFFSET IN THE BALANCE SHEET(3)
NET AMOUNTS PRESENTED IN THE BALANCE SHEET
GROSS AMOUNTS NOT OFFSET IN THE BALANCE SHEET(4)
NET AMOUNT(5)
Derivative Assets(1)
Foreign Exchange Contracts Over the Counter (OTC)$2,928.9 $2,666.4 $262.5 $5.0 $257.5 
Interest Rate Swaps OTC217.6 144.3 73.3 — 73.3 
Interest Rate Swaps Exchange Cleared4.4 — 4.4 — 4.4 
Other Financial Derivative0.3 — 0.3 — 0.3 
Total Derivatives Subject to a Master Netting Arrangement3,151.2 2,810.7 340.5 5.0 335.5 
Total Derivatives Not Subject to a Master Netting Arrangement581.2 — 581.2 — 581.2 
Total Derivatives3,732.4 2,810.7 921.7 5.0 916.7 
Securities Purchased under Agreements to Resell(2)
$12,494.2 $11,423.9 $1,070.3 $1,070.3 $— 
DECEMBER 31, 2021
(In Millions)GROSS
RECOGNIZED
ASSETS
GROSS AMOUNTS OFFSET IN THE BALANCE SHEET(3)
NET AMOUNTS PRESENTED IN THE BALANCE SHEET
GROSS AMOUNTS NOT OFFSET IN THE BALANCE SHEET(4)
NET AMOUNT(5)
Derivative Assets(1)
Foreign Exchange Contracts OTC$1,762.7 $1,530.7 $232.0 $2.8 $229.2 
Interest Rate Swaps OTC140.0 3.1 136.9 — 136.9 
Total Derivatives Subject to a Master Netting Arrangement1,902.7 1,533.8 368.9 2.8 366.1 
Total Derivatives Not Subject to a Master Netting Arrangement444.7 — 444.7 — 444.7 
Total Derivatives2,347.4 1,533.8 813.6 2.8 810.8 
Securities Purchased under Agreements to Resell(2)
$2,078.9 $1,392.5 $686.4 $686.4 $— 
(1) Derivative assets are reported in Other Assets on the consolidated balance sheets. Other Assets (excluding derivative assets) totaled $8.9 billion and $7.8 billion as of December 31, 2022 and 2021, respectively.
(2) Offsetting of Securities Purchased under Agreements to Resell relates to our involvement in FICC.
(3) Including cash collateral received from counterparties.
(4) Including financial assets accepted as collateral which are received from counterparties.
(5) Northern Trust did not possess any cash collateral that was not offset on the consolidated balance sheets that could have been used to offset the net amounts presented on the consolidated balance sheets as of December 31, 2022 and 2021.
Securities Sold Under Agreements to Repurchase and Derivative Liabilities in the Consolidated Balance Sheet
The following table provides information regarding the offsetting of derivative liabilities and of securities sold under agreements to repurchase within the consolidated balance sheets as of December 31, 2022 and 2021.

TABLE 128: OFFSETTING OF DERIVATIVE LIABILITIES AND SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE
DECEMBER 31, 2022
(In Millions)GROSS
RECOGNIZED
LIABILITIES
GROSS AMOUNTS OFFSET IN THE BALANCE SHEET(3)
NET AMOUNTS PRESENTED IN THE BALANCE SHEET
GROSS AMOUNTS NOT OFFSET IN THE BALANCE SHEET(4)
NET
AMOUNT(5)
Derivative Liabilities(1)
Foreign Exchange Contracts OTC$2,082.3 $1,826.7 $255.6 $— $255.6 
Interest Rate Swaps OTC426.5 5.9 420.6 — 420.6 
Interest Rate Swaps Exchange Cleared5.3 — 5.3 — 5.3 
Other Financial Derivatives34.8 33.3 1.5 — 1.5 
Total Derivatives Subject to a Master Netting Arrangement2,548.9 1,865.9 683.0 — 683.0 
Total Derivatives Not Subject to a Master Netting Arrangement1,105.2 — 1,105.2 — 1,105.2 
Total Derivatives3,654.1 1,865.9 1,788.2 — 1,788.2 
Securities Sold under Agreements to Repurchase(2)
$11,991.1 $11,423.9 $567.2 $567.2 $— 
DECEMBER 31, 2021
(In Millions)GROSS
RECOGNIZED
LIABILITIES
GROSS AMOUNTS OFFSET IN THE BALANCE SHEET(3)
NET AMOUNTS PRESENTED IN THE BALANCE SHEET
GROSS AMOUNTS NOT OFFSET IN THE BALANCE SHEET(4)
NET
AMOUNT(5)
Derivative Liabilities(1)
Foreign Exchange Contracts OTC$1,430.1 $1,234.5 $195.6 $— $195.6 
Interest Rate Swaps OTC98.7 48.1 50.6 — 50.6 
Interest Rate Swaps Exchange Cleared0.2 — 0.2 — 0.2 
Other Financial Derivatives37.5 0.9 36.6 — 36.6 
Total Derivatives Subject to a Master Netting Arrangement1,566.5 1,283.5 283.0 — 283.0 
Total Derivatives Not Subject to a Master Netting Arrangement568.7 — 568.7 — 568.7 
Total Derivatives2,135.2 1,283.5 851.7 — 851.7 
Securities Sold under Agreements to Repurchase(2)
$1,924.4 $1,392.5 $531.9 $531.9 $— 
(1) Derivative liabilities are reported in Other Liabilities on the consolidated balance sheets. Other Liabilities (excluding derivative liabilities) totaled $3.2 billion and $3.3 billion as of December 31, 2022 and 2021, respectively.
(2) Offsetting of Securities Sold under Agreements to Repurchase relates to our involvement in FICC.
(3) Including cash collateral deposited with counterparties.
(4) Including financial assets accepted as collateral which are deposited with counterparties.
(5) Northern Trust did not place any cash collateral with counterparties that was not offset on the consolidated balance sheets that could have been used to offset the net amounts presented on the consolidated balance sheets as of December 31, 2022 and 2021.