Northern Trust Corporation (Corporation only) (Tables) - Parent Company

12 Months Ended

Dec. 31, 2022

Condensed Financial Statements, Captions [Line Items]

Condensed Balance Sheet

	DECEMBER 31,
(In Millions)	2022		2021
ASSETS
Cash on Deposit with Subsidiary Bank	$	601.4	$	1,731.7
Advances to Wholly-Owned Subsidiaries – Banks	4,010.0		2,810.0
Investments in Wholly-Owned Subsidiaries – Banks	10,897.1		11,120.9
– Nonbank	194.7		185.3
Other Assets	1,226.3		890.2
Total Assets	$	16,929.5	$	16,738.1
LIABILITIES
Senior Notes	$	2,724.2	$	2,505.5
Long-Term Debt	2,066.2		1,145.7
Other Liabilities	879.6		1,070.1
Total Liabilities	5,670.0		4,721.3
STOCKHOLDERS’ EQUITY
Preferred Stock	884.9		884.9
Common Stock	408.6		408.6
Additional Paid-in Capital	983.5		939.3
Retained Earnings	13,798.5		13,117.3
Accumulated Other Comprehensive Income (Loss)	(1,569.2)		(35.6)
Treasury Stock	(3,246.8)		(3,297.7)
Total Stockholders’ Equity	11,259.5		12,016.8
Total Liabilities and Stockholders’ Equity	$	16,929.5	$	16,738.1

Condensed Statement of Income

	FOR THE YEAR ENDED DECEMBER 31,
(In Millions)	2022		2021		2020
OPERATING INCOME
Dividends – Bank Subsidiaries	$	—	$	751.1	$	900.0
– Nonbank Subsidiaries	—		8.3		—
Intercompany Interest and Other Charges	112.8		20.1		46.5
Interest and Other Income	(5.7)		32.3		19.1
Total Operating Income	107.1		811.8		965.6
OPERATING EXPENSES
Interest Expense	132.3		71.3		104.2
Other Operating Expenses	11.9		36.7		26.2
Total Operating Expenses	144.2		108.0		130.4
Income (Loss) before Income Taxes and Equity in Undistributed Net Income of Subsidiaries	(37.1)		703.8		835.2
Benefit for Income Taxes	16.9		25.7		28.2
Income (Loss) before Equity in Undistributed Net Income of Subsidiaries	(20.2)		729.5		863.4
Equity in Undistributed Net Income of Subsidiaries – Banks	1,338.5		803.3		326.0
– Nonbank	17.7		12.5		19.9
Net Income	$	1,336.0	$	1,545.3	$	1,209.3
Preferred Stock Dividends	41.8		41.8		56.2
Net Income Applicable to Common Stock	$	1,294.2	$	1,503.5	$	1,153.1

Condensed Statement of Cash Flows

	FOR THE YEAR ENDED DECEMBER 31,
(In Millions)	2022		2021		2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income	$	1,336.0	$	1,545.3	$	1,209.3
Adjustments to Reconcile Net Income to Net Cash (Used in) Provided by Operating Activities
Equity in Undistributed Net Income of Subsidiaries	(1,356.2)		(815.8)		(345.9)
Change in Prepaid Expenses	(3.8)		0.1		398.5
Change in Accrued Income Taxes	36.6		2.2		3.7
Other Operating Activities, net	(608.2)		236.6		300.3
Net Cash (Used in) Provided by Operating Activities	(595.6)		968.4		1,565.9
CASH FLOWS FROM INVESTING ACTIVITIES
Investments in and Advances to Subsidiaries, net	(1,200.1)		(140.0)		(800.0)
Other Investing Activities, net	(0.1)		5.1		1.8
Net Cash Used in Investing Activities	(1,200.2)		(134.9)		(798.2)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from Senior Notes and Long-Term Debt	1,988.8		—		993.2
Repayments of Senior Notes	(500.0)		(500.0)		(508.6)
Repayment of Floating Rate Capital Debt	—		(278.8)		—
Redemption of Preferred Stock - Series C	—		—		(400.0)
Treasury Stock Purchased	(35.4)		(267.6)		(299.8)
Net Proceeds from Stock Options	3.9		53.8		19.5
Cash Dividends Paid on Common Stock	(750.2)		(583.3)		(584.6)
Cash Dividends Paid on Preferred Stock	(46.5)		(41.8)		(45.9)
Other Financing Activities, net	4.9		(0.1)		15.4
Net Cash Provided by (Used in) Financing Activities	665.5		(1,617.8)		(810.8)
Net Change in Cash on Deposit with Subsidiary Bank	(1,130.3)		(784.3)		(43.1)
Cash on Deposit with Subsidiary Bank at Beginning of Year	1,731.7		2,516.0		2,559.1
Cash on Deposit with Subsidiary Bank at End of Year	$	601.4	$	1,731.7	$	2,516.0