| Results of Reporting Segments |
The following table presents the earnings contributions and certain average balances of Northern Trust’s reporting segments for the three- and six-month periods ended June 30, 2025 and 2024. TABLE 58: RESULTS OF REPORTING SEGMENTS | | | | | | | | | | | | | | | | | | | | | | | | | | | | ($ In Millions) | ASSET SERVICING(3) | WEALTH MANAGEMENT(3) | OTHER(4) | TOTAL CONSOLIDATED | | THREE MONTHS ENDED JUNE 30, | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | | Noninterest Income | | | | | | | | | | Trust, Investment and Other Servicing Fees | $ | 691.8 | | $ | 650.6 | $ | 539.3 | | $ | 515.5 | $ | — | | $ | — | $ | 1,231.1 | $ | 1,166.1 | | Foreign Exchange Trading Income (Loss) | 61.0 | | 62.2 | (10.4) | | (3.8) | — | | — | 50.6 | 58.4 | | Other Noninterest Income | 70.6 | | 59.4 | 34.6 | | 30.0 | 0.5 | | 878.7 | 105.7 | 968.1 | | Total Noninterest Income | 823.4 | | 772.2 | 563.5 | | 541.7 | 0.5 | | 878.7 | 1,387.4 | 2,192.6 | Net Interest Income (Expense)(1) | 347.2 | | 282.7 | 268.3 | | 244.3 | (5.0) | | (4.1) | 610.5 | 522.9 | Revenue(1) | 1,170.6 | | 1,054.9 | 831.8 | | 786.0 | (4.5) | | 874.6 | 1,997.9 | 2,715.5 | | Provision for Credit Losses | 3.9 | | 4.5 | 11.2 | | 5.0 | 1.4 | | (1.5) | 16.5 | 8.0 | | Noninterest Expense | | | | | | | | | | Compensation | 75.2 | | 132.4 | 142.2 | | 155.2 | 397.4 | | 377.6 | 614.8 | 665.2 | | Employee Benefits | 16.4 | | 17.2 | 22.9 | | 20.6 | 78.4 | | 62.4 | 117.7 | 100.2 | | Outside Services | 43.9 | | 52.4 | 17.0 | | 12.6 | 186.1 | | 195.9 | 247.0 | 260.9 | | Allocated Expense | 740.7 | | 689.2 | 305.0 | | 307.8 | (1,045.7) | | (997.0) | — | — | Other Segment Items(2) | 19.4 | | 23.6 | 23.9 | | 22.1 | 393.8 | | 461.9 | 437.1 | 507.6 | | Total Noninterest Expense | 895.6 | | 914.8 | 511.0 | | 518.3 | 10.0 | | 100.8 | 1,416.6 | 1,533.9 | Income (Loss) before Income Taxes(1) | 271.1 | | 135.6 | 309.6 | | 262.7 | (15.9) | | 775.3 | 564.8 | 1,173.6 | Provision for Income Taxes(1) | 58.1 | | 29.2 | 75.6 | | 66.3 | 9.8 | | 182.0 | 143.5 | 277.5 | | Net Income (Loss) | $ | 213.0 | | $ | 106.4 | $ | 234.0 | | $ | 196.4 | $ | (25.7) | | $ | 593.3 | $ | 421.3 | $ | 896.1 | | Percentage of Consolidated Net Income | 51 | % | 12 | % | 56 | % | 22 | % | (7) | % | 66 | % | 100 | % | 100 | % | | Average Assets | $ | 117,044.6 | | $ | 108,290.3 | | $ | 39,094.5 | | $ | 38,828.7 | $ | 1,580.1 | | $ | 882.2 | $ | 157,719.2 | $ | 148,001.2 | | Average Loans | $ | 5,812.8 | $ | 6,472.3 | $ | 35,345.2 | | $ | 34,562.3 | $ | — | | $ | — | $ | 41,158.0 | $ | 41,034.6 | | Average Deposits | $ | 95,506.7 | $ | 86,223.0 | $ | 25,291.0 | | $ | 26,236.4 | $ | 1,580.1 | $ | 882.2 | $ | 122,377.8 | $ | 113,341.6 |
(1) Financial measures stated on an FTE basis. (2) Other Segment Items include Occupancy, Equipment & Software and Other Operating Expense. (3) Prior-year quarter items including severance-related charges, software amortization acceleration and dispositions, and a securities repositioning related to the supplemental pension plan, are allocated to the Reporting Segments based on the nature of the item. (4) Includes the net gain from Northern Trust’s participation in the Visa Exchange Offer in the prior-year quarter. | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In Millions) | ASSET SERVICING(3) | WEALTH MANAGEMENT(3) | OTHER(4) | TOTAL CONSOLIDATED | | SIX MONTHS ENDED JUNE 30, | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | | Noninterest Income | | | | | | | | | | Trust, Investment and Other Servicing Fees | $ | 1,363.7 | | $ | 1,290.2 | $ | 1,081.2 | | $ | 1,018.8 | $ | — | | $ | — | $ | 2,444.9 | | $ | 2,309.0 | | Foreign Exchange Trading Income (Loss) | 124.9 | | 122.1 | (15.6) | | (6.7) | — | | — | 109.3 | | 115.4 | | Other Noninterest Income (Loss) | 139.2 | | 130.1 | 68.1 | | 68.5 | (2.2) | | 688.3 | 205.1 | | 886.9 | | Total Noninterest Income (Loss) | 1,627.8 | | 1,542.4 | 1,133.7 | | 1,080.6 | (2.2) | | 688.3 | 2,759.3 | | 3,311.3 | Net Interest Income(1) | 670.9 | | 575.3 | 518.4 | | 485.7 | (10.7) | | (10.0) | 1,178.6 | | 1,051.0 | Revenue(1) | 2,298.7 | | 2,117.7 | 1,652.1 | | 1,566.3 | (12.9) | | 678.3 | 3,937.9 | | 4,362.3 | | Provision for Credit Losses | 6.0 | | (1.3) | 10.3 | | 3.3 | 1.2 | | (2.5) | 17.5 | | (0.5) | | Noninterest Expense | | | | | | | | | | Compensation | 169.5 | | 228.1 | 293.3 | | 299.9 | 796.4 | | 764.3 | 1,259.2 | | 1,292.3 | | Employee Benefits | 33.8 | | 34.3 | 45.0 | | 41.1 | 148.6 | | 125.9 | 227.4 | | 201.3 | | Outside Services | 90.8 | | 101.9 | 31.3 | | 22.5 | 370.1 | | 365.8 | 492.2 | | 490.2 | | Allocated Expense | 1,450.3 | | 1,355.0 | 611.9 | | 603.9 | (2,062.2) | | (1,958.9) | — | | — | Other Segment Items(2) | 41.8 | | 44.8 | 46.4 | | 40.4 | 767.2 | | 829.6 | 855.4 | | 914.8 | | Total Noninterest Expense | 1,786.2 | | 1,764.1 | 1,027.9 | | 1,007.8 | 20.1 | | 126.7 | 2,834.2 | | 2,898.6 | Income before Income Taxes(1) | 506.5 | | 354.9 | 613.9 | | 555.2 | (34.2) | | 554.1 | 1,086.2 | | 1,464.2 | Provision for Income Taxes(1) | 108.9 | | 77.7 | 150.1 | | 139.9 | 13.9 | | 135.8 | 272.9 | | 353.4 | | Net Income | $ | 397.6 | | $ | 277.2 | $ | 463.8 | | $ | 415.3 | $ | (48.1) | | $ | 418.3 | $ | 813.3 | | $ | 1,110.8 | | Percentage of Consolidated Net Income | 49 | % | 25 | % | 57 | % | 37 | % | (6) | % | 38 | % | 100 | % | 100 | % | | Average Assets | $ | 113,432.9 | | $ | 107,563.3 | $ | 39,121.2 | | $ | 38,502.4 | $ | 1,457.2 | | $ | 494.1 | $ | 154,011.3 | | $ | 146,559.8 | | Average Loans | $ | 5,781.2 | $ | 6,690.9 | $ | 35,336.2 | | $ | 34,619.8 | $ | — | | $ | — | $ | 41,117.4 | | $ | 41,310.7 | | Average Deposits | $ | 92,418.8 | $ | 86,455.9 | $ | 25,290.3 | | $ | 25,902.2 | $ | 1,457.2 | | $ | 494.1 | $ | 119,166.3 | | $ | 112,852.2 |
(1) Financial measures stated on an FTE basis. (2) Other Segment Items include Occupancy, Equipment & Software and Other Operating Expense. (3) Prior-year period items including severance-related charges, software amortization acceleration and dispositions, and a securities repositioning related to the supplemental pension plan, are allocated to the Reporting Segments based on the nature of the item. (4) Includes the net gain from Northern Trust’s participation in the Visa Exchange Offer, partially offset by a loss on available for sale debt securities sold in conjunction with a repositioning of the portfolio, both in the prior-year period.
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