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

12 Months Ended

Dec. 31, 2014

Parent Company

Condensed Balance Sheet

TABLE 125: CONDENSED BALANCE SHEET
	DECEMBER 31,
(In Millions)	2014			2013
ASSETS
Cash on Deposit with Subsidiary Bank	$	869.4		$	1,566.4
Time Deposits with Subsidiary Banks		–			–
Securities		2.3			5.3
Advances to Wholly-Owned Subsidiaries – Banks		2,273.5			2,035.0
– Nonbank		5.0			5.0
Investments in Wholly-Owned Subsidiaries – Banks		7,604.5			7,101.7
– Nonbank		123.0			168.5
Buildings and Equipment		–			–
Other Assets		605.8			608.8
Total Assets	$	11,483.5		$	11,490.7
LIABILITIES
Senior Notes	$	1,497.0		$	1,996.6
Long Term Debt		793.0			717.8
Floating Rate Capital Debt		277.2			277.1
Other Liabilities		467.4			587.2
Total Liabilities		3,034.6			3,578.7
STOCKHOLDERS’ EQUITY
Preferred Stock		388.5			–
Common Stock		408.6			408.6
Additional Paid-in Capital		1,050.9			1,035.7
Retained Earnings		7,625.4			7,134.8
Accumulated Other Comprehensive Loss		(319.7	)		(244.3	)
Treasury Stock		(704.8	)		(422.8	)
Total Stockholders’ Equity		8,448.9			7,912.0
Total Liabilities and Stockholders’ Equity	$	11,483.5		$	11,490.7

Condensed Statement of Income

TABLE 126: CONDENSED STATEMENT OF INCOME
	FOR THE YEAR ENDED DECEMBER 31,
(In Millions)	2014			2013			2012
OPERATING INCOME
Dividends – Bank Subsidiaries	$	300.0		$	880.0		$	440.0
– Nonbank Subsidiaries		3.8			21.7			26.2
Intercompany Interest and Other Charges		42.9			33.2			30.0
Interest and Other Income		(0.3	)		9.0			10.6
Total Operating Income		346.4			943.9			506.8
OPERATING EXPENSES
Interest Expense		66.6			78.3			74.9
Other Operating Expenses		17.0			20.8			13.0
Total Operating Expenses		83.6			99.1			87.9
Income before Income Taxes and Equity in Undistributed Net Income of Subsidiaries		262.8			844.8			418.9
Benefit for Income Taxes		16.6			24.2			21.1
Income before Equity in Undistributed Net Income of Subsidiaries		279.4			869.0			440.0
Equity in Undistributed Net Income of Subsidiaries – Banks		522.1			(152.5	)		266.9
– Nonbank		10.3			14.8			(19.6	)
Net Income	$	811.8		$	731.3		$	687.3
Preferred Stock Dividends		9.5			–			–
Net Income Applicable to Common Stock	$	802.3		$	731.3		$	687.3

Condensed Statement of Cash Flows

TABLE 127: CONDENSED STATEMENT OF CASH FLOWS	FOR THE YEAR ENDED DECEMBER 31,
(In Millions)	2014			2013			2012
OPERATING ACTIVITIES:
Net Income	$	811.8		$	731.3		$	687.3
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities:
Equity in Undistributed Net Income of Subsidiaries		(532.4	)		131.0			(247.3	)
Change in Prepaid Expenses		0.2			(1.1	)		(0.9	)
Change in Accrued Income Taxes		(30.7	)		(18.1	)		34.7
Other, net		56.1			102.6			(36.0	)
Net Cash Provided by Operating Activities		305.0			945.7			437.8
INVESTING ACTIVITIES:
Change in Time Deposits with Banks		–			1,691.4			(422.2	)
Purchases of Securities – Available for Sale		–			–			(0.4	)
Proceeds from Sale, Maturity and Redemption of Securities – Available for Sale		2.9			0.2			94.3
Change in Capital Investments in Subsidiaries		–			(13.0	)		0.3
Advances to Wholly-Owned Subsidiaries		(238.5	)		(1,000.0	)		–
Other, net		1.1			1.8			–
Net Cash Provided by (Used in) Investing Activities		(234.5	)		680.4			(328.0	)
FINANCING ACTIVITIES:
Change in Senior Notes and Long-Term Debt		(500.0	)		317.9			300.0
Proceeds from Issuance of Preferred Stock – Series C		388.5			–			–
Treasury Stock Purchased		(480.7	)		(309.7	)		(162.4	)
Net Proceeds from Stock Options		127.5			146.2			106.8
Cash Dividends Paid on Common Stock		(302.9	)		(220.6	)		(354.3	)
Other, net		0.1			–			0.1
Net Cash Used in Financing Activities		(767.5	)		(66.2	)		(109.8	)
Net Change in Cash on Deposit with Subsidiary Bank		(697.0	)		1,559.9			–
Cash on Deposit with Subsidiary Bank at Beginning of Year		1,566.4			6.5			6.5
Cash on Deposit with Subsidiary Bank at End of Year	$	869.4		$	1,566.4		$	6.5