The following table sets forth the net periodic pension expense for Northern Trust’s U.S. Qualified Plan, Non-U.S. Pension Plans, and U.S. Non-Qualified Plan for the three and six months ended June 30, 2025 and 2024. TABLE 67: NET PERIODIC PENSION EXPENSE (BENEFIT) | | | | | | | | | | | | | | | | U.S. QUALIFIED PLAN | THREE MONTHS ENDED JUNE 30, | SIX MONTHS ENDED JUNE 30, | | (In Millions) | 2025 | 2024 | 2025 | 2024 | | Service Cost | $ | 13.7 | | $ | 13.4 | | $ | 27.4 | | $ | 26.8 | | | Interest Cost | 15.5 | | 13.9 | | 31.0 | | 27.8 | | | Expected Return on Plan Assets | (30.6) | | (28.9) | | (61.2) | | (57.8) | | | Amortization | | | | | | Net Actuarial Loss | 1.9 | | 1.9 | | 3.8 | | 3.8 | | | Net Periodic Pension Expense | $ | 0.5 | | $ | 0.3 | | $ | 1.0 | | $ | 0.6 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | NON-U.S. PENSION PLANS | THREE MONTHS ENDED JUNE 30, | SIX MONTHS ENDED JUNE 30, | | (In Millions) | 2025 | 2024 | 2025 | 2024 | | Service Cost | $ | 0.5 | | $ | 0.5 | | $ | 1.0 | | $ | 1.0 | | | Interest Cost | 1.2 | | 1.1 | | 2.3 | | 2.2 | | | Expected Return on Plan Assets | (1.7) | | (1.6) | | (3.3) | | (3.2) | | | Net Periodic Pension Expense | $ | — | | $ | — | | $ | — | | $ | — | | | | | | | | | | | |
| | | | | | | | | | | | | | | | U.S. NON-QUALIFIED PLAN | THREE MONTHS ENDED JUNE 30, | SIX MONTHS ENDED JUNE 30, | | (In Millions) | 2025 | 2024 | 2025 | 2024 | | Service Cost | $ | 1.2 | | $ | 1.2 | | $ | 2.4 | | $ | 2.4 | | | Interest Cost | 1.3 | | 1.2 | | 2.6 | | 2.4 | | | Amortization | | | | | | Net Actuarial Loss | 1.1 | | 1.3 | | 2.2 | | 2.6 | | | Net Periodic Pension Expense | $ | 3.6 | | $ | 3.7 | | $ | 7.2 | | $ | 7.4 | |
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