Offsetting of Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2013

Consolidated Balance Sheet for Securities Purchased under Agreements to Sell and Derivative Assets

The following tables provide information regarding the offsetting of derivative assets and securities purchased under agreements to resell within the consolidated balance sheet as of March 31, 2013 and December 31, 2012.

March 31, 2013
(In Millions)	Gross Recognized Assets		Gross Amounts Offset		Net Amounts Presented		Gross Amounts Not Offset		Net Amount ****
Derivative Assets *
Foreign Exchange Contracts Over the Counter (OTC)	$	2,390.5	$	1,411.5	$	979.0	$	—	$	979.0
Interest Rate Swaps OTC		283.5		60.2		223.3		—		223.3
Cross Product Netting Adjustment		—		36.0		—		—		—
Cross Product Collateral Adjustment		—		218.1		—		—		—
Total **	$	2,674.0	$	1,725.8	$	948.2	$	—	$	948.2
Securities Purchased under Agreements to Resell ***	$	250.0	$	—	$	250.0	$	250.0	$	—

* Derivative assets are reported in other assets in the consolidated balance sheet. Other assets (excluding derivative assets) totaled $3,177.7 million as of March 31, 2013.

** All derivative assets are subject to a master netting or similar arrangement.

*** Securities purchased under agreements to resell are reported in federal funds sold and securities purchased under agreements to resell in the consolidated balance sheet. Federal funds sold totaled $1.5 million as of March 31, 2013.

**** Northern Trust did not possess any cash collateral that was not offset in the consolidated balance sheet that could have been used to offset the net amounts presented in the consolidated balance sheet as of March 31, 2013.

December 31, 2012
(In Millions)	Gross Recognized Assets		Gross Amounts Offset		Net Amounts Presented		Gross Amounts Not Offset		Net Amount ****
Derivative Assets *
Foreign Exchange Contracts OTC	$	1,756.6	$	877.1	$	879.5	$	—	$	879.5
Interest Rate Swaps OTC		310.3		68.3		242.0		—		242.0
Cross Product Netting Adjustment		—		37.1		—		—		—
Cross Product Collateral Adjustment		—		118.6		—		—		—
Total **	$	2,066.9	$	1,101.1	$	965.8	$	—	$	965.8
Securities Purchased under Agreements to Resell ***	$	35.4	$	—	$	35.4	$	35.4	$	—

* Derivative assets are reported in other assets in the consolidated balance sheet. Other assets (excluding derivative assets) totaled $2,964.4 million as of December 31, 2012.

** All derivative assets are subject to a master netting or similar arrangement.

*** Securities purchased under agreements to resell are reported in federal funds sold and securities purchased under agreements to resell in the consolidated balance sheet. Federal funds sold totaled $25.4 million as of December 31, 2012.

**** Northern Trust did not possess any cash collateral that was not offset in the consolidated balance sheet that could have been used to offset the net amounts presented in the consolidated balance sheet as of December 31, 2012.

Consolidated Balance Sheet for Securities Sold under Agreements to Repurchase and Derivative Liabilities

The following tables provide information regarding the offsetting of derivative liabilities and securities sold under agreements to repurchase within the consolidated balance sheet as of March 31, 2013 and December 31, 2012.

March 31, 2013
(In Millions)	Gross Recognized Liabilities		Gross Amounts Offset		Net Amounts Presented		Gross Amounts Not Offset		Net Amount ***
Derivative Liabilities *
Foreign Exchange Contracts OTC	$	2,298.4	$	1,411.5	$	886.9	$	—	$	886.9
Interest Rate Swaps OTC		220.8		60.2		160.6		—		160.6
Credit Default Swaps OTC		0.1		—		0.1		—		0.1
Cross Product Netting Adjustment		—		36.0		—		—		—
Cross Product Collateral Adjustment		—		472.2		—		—		—
Total **	$	2,519.3	$	1,979.9	$	539.4	$	—	$	539.4
Securities Purchased under Agreements to Resell	$	490.2	$	—	$	490.2	$	490.2	$	—

* Derivative liabilities are reported in other liabilities in the consolidated balance sheet. Other liabilities (excluding derivative liabilities) totaled $2,059.7 million as of March 31, 2013.

** All derivative liabilities are subject to a master netting or similar arrangement.

*** Northern Trust did not place any cash collateral with counterparties that was not offset in the consolidated balance sheet that could have been used to offset the net amounts presented in the consolidated balance sheet as of March 31, 2013.

December 31, 2012
(In Millions)	Gross Recognized Liabilities		Gross Amounts Offset		Net Amounts Presented		Gross Amounts Not Offset		Net Amount ***
Derivative Liabilities *
Foreign Exchange Contracts OTC	$	1,772.7	$	877.1	$	895.6	$	—	$	895.6
Interest Rate Swaps OTC		249.3		68.3		181.0		—		181.0
Credit Default Swaps OTC		1.0		—		1.0		—		1.0
Cross Product Netting Adjustment		—		37.1		—		—		—
Cross Product Collateral Adjustment		—		425.0		—		—		—
Total **	$	2,023.0	$	1,407.5	$	615.5	$	—	$	615.5
Securities Purchased under Agreements to Resell	$	699.8	$	—	$	699.8	$	699.8	$	—

* Derivative liabilities are reported in other liabilities in the consolidated balance sheet. Other liabilities (excluding derivative liabilities) totaled $1,961.7 million as of December 31, 2012.

** All derivative liabilities are subject to a master netting or similar arrangement.

*** Northern Trust did not place any cash collateral with counterparties that was not offset in the consolidated balance sheet that could have been used to offset the net amounts presented in the consolidated balance sheet as of December 31, 2012.