2022 Q1 Form 10-Q Financial Statement

#000007312422000148 Filed on May 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1 2020 Q3
Revenue $383.5M $349.9M $355.4M
YoY Change 9.6% -33.88% -42.75%
Cost Of Revenue -$15.60M $700.0K -$3.000M
YoY Change -2328.57% -98.93% -102.34%
Gross Profit $1.719B $1.583B $1.485B
YoY Change 8.54% -0.27% -3.43%
Gross Profit Margin 448.16% 452.53% 417.87%
Selling, General & Admin $926.5M $864.1M $816.9M
YoY Change 7.22% 4.57% 2.04%
% of Gross Profit 53.91% 54.57% 55.01%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $130.9M $125.4M $123.9M
YoY Change 4.39% 1.29% 7.46%
% of Gross Profit 7.62% 7.92% 8.34%
Operating Expenses $1.208B $1.088B $1.095B
YoY Change 11.07% -3.47% 6.4%
Operating Profit $510.8M $495.9M $389.9M
YoY Change 3.0% 7.55% -23.34%
Interest Expense $2.500M $9.800M $26.80M
YoY Change -74.49% -91.91% -86.8%
% of Operating Profit 0.49% 1.98% 6.87%
Other Income/Expense, Net
YoY Change
Pretax Income $510.8M $495.9M $389.9M
YoY Change 3.0% 7.55% -23.34%
Income Tax $121.5M $120.8M $95.40M
% Of Pretax Income 23.79% 24.36% 24.47%
Net Earnings $389.3M $375.1M $294.5M
YoY Change 3.79% 4.02% -23.43%
Net Earnings / Revenue 101.51% 107.2% 82.86%
Basic Earnings Per Share $1.78 $1.71 $1.32
Diluted Earnings Per Share $1.77 $1.70 $1.32
COMMON SHARES
Basic Shares Outstanding 208.0M shares 208.1M shares 208.1M shares
Diluted Shares Outstanding 208.8M shares 208.9M shares 208.7M shares

Balance Sheet

Concept 2022 Q1 2021 Q1 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $61.87B $64.60B $64.04B
YoY Change -4.23% 11.55% 15.5%
Cash & Equivalents $3.783B $4.584B $4.738B
Short-Term Investments $58.08B $60.02B $59.31B
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $3.783B $4.584B $4.738B
YoY Change -17.47% -21.41% -5.95%
LONG-TERM ASSETS
Property, Plant & Equipment $486.0M $496.7M $510.0M
YoY Change -2.15% 1.33% 27.34%
Goodwill $702.0M $704.0M $698.0M
YoY Change -0.28% 2.13% 1.57%
Intangibles
YoY Change
Long-Term Investments $117.6B $113.2B $102.8B
YoY Change 3.93% 9.78% 32.85%
Other Assets
YoY Change
Total Long-Term Assets $168.8B $159.3B $147.3B
YoY Change 5.93% 2.22% 23.49%
TOTAL ASSETS
Total Short-Term Assets $3.783B $4.584B $4.738B
Total Long-Term Assets $168.8B $159.3B $147.3B
Total Assets $172.6B $163.9B $152.1B
YoY Change 5.27% 1.37% 22.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $150.0B $137.6B $125.1B
YoY Change 9.02% 1.22% 27.97%
Long-Term Debt Due $3.521B $5.428B $5.772B
YoY Change -35.13% -8.87% -26.0%
Total Short-Term Liabilities $153.5B $143.0B $130.8B
YoY Change 7.34% 0.8% 23.33%
LONG-TERM LIABILITIES
Long-Term Debt $3.484B $4.435B $5.129B
YoY Change -21.43% 7.07% 27.11%
Other Long-Term Liabilities $4.190B $5.050B $4.539B
YoY Change -17.03% 4.43% 32.45%
Total Long-Term Liabilities $7.675B $9.485B $9.668B
YoY Change -19.09% 5.65% 29.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $153.5B $143.0B $130.8B
Total Long-Term Liabilities $7.675B $9.485B $9.668B
Total Liabilities $161.2B $152.5B $140.5B
YoY Change 5.7% 1.09% 23.74%
SHAREHOLDERS EQUITY
Retained Earnings $13.34B $12.42B $12.12B
YoY Change 7.47% 4.97% 5.92%
Common Stock $408.6M $408.6M $408.6M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.251B $3.231B $3.219B
YoY Change 0.61% 0.19% 13.38%
Treasury Stock Shares 36.79M shares 37.03M shares 37.05M shares
Shareholders Equity $11.41B $11.46B $11.58B
YoY Change
Total Liabilities & Shareholders Equity $172.6B $163.9B $152.1B
YoY Change 5.27% 1.37% 22.3%

Cashflow Statement

Concept 2022 Q1 2021 Q1 2020 Q3
OPERATING ACTIVITIES
Net Income $389.3M $375.1M $294.5M
YoY Change 3.79% 4.02% -23.43%
Depreciation, Depletion And Amortization $130.9M $125.4M $123.9M
YoY Change 4.39% 1.29% 7.46%
Cash From Operating Activities $746.9M $68.30M -$77.90M
YoY Change 993.56% -102.54% -113.5%
INVESTING ACTIVITIES
Capital Expenditures $25.80M $10.70M -$125.7M
YoY Change 141.12% -71.54% 6.53%
Acquisitions
YoY Change
Other Investing Activities -$71.00M $93.70M $1.303B
YoY Change -175.77% -38.76% -27.03%
Cash From Investing Activities $10.33B $5.134B $1.177B
YoY Change 101.13% -123.88% -29.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $33.80M $135.6M
YoY Change -75.07% -54.31%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$10.32B -$4.906B -838.3M
YoY Change 110.3% -119.08% -66.25%
NET CHANGE
Cash From Operating Activities $746.9M $68.30M -77.90M
Cash From Investing Activities $10.33B $5.134B 1.177B
Cash From Financing Activities -$10.32B -$4.906B -838.3M
Net Change In Cash $726.4M $194.9M 260.6M
YoY Change 272.7% -85.82% -208.9%
FREE CASH FLOW
Cash From Operating Activities $746.9M $68.30M -$77.90M
Capital Expenditures $25.80M $10.70M -$125.7M
Free Cash Flow $721.1M $57.60M $47.80M
YoY Change 1151.91% -102.12% -93.12%

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CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022Q1 us-gaap Held To Maturity Securities Debt Maturities After Ten Years Fair Value
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20399100000 USD
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CY2021Q1 ntrs Held To Maturity Securities Transferred From Available For Sale
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CY2022Q1 us-gaap Debt Securities Held To Maturity Excluding Accrued Interest Before Allowance For Credit Loss
DebtSecuritiesHeldToMaturityExcludingAccruedInterestBeforeAllowanceForCreditLoss
21223500000 USD
CY2022Q1 ntrs Debt Securities Held To Maturity Percent Of Portfolio
DebtSecuritiesHeldToMaturityPercentOfPortfolio
1
CY2021Q4 us-gaap Debt Securities Held To Maturity Excluding Accrued Interest Before Allowance For Credit Loss
DebtSecuritiesHeldToMaturityExcludingAccruedInterestBeforeAllowanceForCreditLoss
23564500000 USD
CY2021Q4 ntrs Debt Securities Held To Maturity Percent Of Portfolio
DebtSecuritiesHeldToMaturityPercentOfPortfolio
1
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CY2022Q1 us-gaap Realized Investment Gains Losses
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CY2021Q1 us-gaap Realized Investment Gains Losses
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CY2022Q1 us-gaap Secured Debt Repurchase Agreements
SecuredDebtRepurchaseAgreements
329700000 USD
CY2021Q4 us-gaap Secured Debt Repurchase Agreements
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531900000 USD
CY2022Q1 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
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329700000 USD
CY2021Q4 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
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531900000 USD
CY2022Q1 ntrs Cash Collateral Deposited With Not Offset Against Derivative Liabilities
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CY2021Q4 ntrs Cash Collateral Deposited With Not Offset Against Derivative Liabilities
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CY2022Q1 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
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CY2021Q4 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
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CY2022Q1 ntrs Loans Receivable Overdraft Advances
LoansReceivableOverdraftAdvances
1900000000 USD
CY2021Q4 ntrs Loans Receivable Overdraft Advances
LoansReceivableOverdraftAdvances
1600000000 USD
CY2022Q1 ntrs Overdrawn Demand Deposit Accounts
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9700000 USD
CY2021Q4 ntrs Overdrawn Demand Deposit Accounts
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CY2022Q1 us-gaap Financing Receivable Excluding Accrued Interest Year Two Originated Fiscal Year Before Current Fiscal Year
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CY2022Q1 us-gaap Financing Receivable Excluding Accrued Interest Revolving Converted To Term Loan
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CY2022Q1 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
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CY2021Q4 us-gaap Financing Receivable Excluding Accrued Interest Year One Originated Current Fiscal Year
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CY2021Q4 us-gaap Financing Receivable Excluding Accrued Interest Year Two Originated Fiscal Year Before Current Fiscal Year
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CY2021Q4 us-gaap Financing Receivable Excluding Accrued Interest Revolving
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CY2021Q4 us-gaap Financing Receivable Excluding Accrued Interest Revolving Converted To Term Loan
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CY2022Q1 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
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CY2022Q1 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
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CY2022Q1 us-gaap Financing Receivable Nonaccrual No Allowance
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CY2021Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
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CY2021Q4 us-gaap Financing Receivable Nonaccrual No Allowance
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900000 USD
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46100000 USD
CY2021Q4 ntrs Financing Receivable Nonaccrual Troubled Debt Restructuring
FinancingReceivableNonaccrualTroubledDebtRestructuring
76700000 USD
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FinancingReceivableModificationsRecordedInvestment
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FinancingReceivableModificationsRecordedInvestment
16500000 USD
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200000 USD
CY2021Q4 us-gaap Loans And Leases Receivable Impaired Commitment To Lend
LoansAndLeasesReceivableImpairedCommitmentToLend
200000 USD
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600000 USD
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600000 USD
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9 contract
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FinancingReceivableModificationsPostModificationRecordedInvestment2
41200000 USD
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43200000 USD
CY2022Q1 us-gaap Other Real Estate And Foreclosed Assets
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200000 USD
CY2022Q1 us-gaap Mortgage Loans In Process Of Foreclosure Amount
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1700000 USD
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0.03
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11200000 USD
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CY2021Q4 ntrs Allowance For Credit Loss
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CY2022Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
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100000 USD
CY2022Q1 ntrs Off Balance Sheet Allowance For Credit Loss Writeoff
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CY2022Q1 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss Writeoff
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CY2022Q1 ntrs Allowance For Credit Loss Writeoff
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CY2022Q1 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
3300000 USD
CY2022Q1 ntrs Off Balance Sheet Credit Loss Liability Recovery
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CY2022Q1 ntrs Allowance For Credit Loss Recovery
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3300000 USD
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Loss Writeoff After Recovery
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CY2022Q1 us-gaap Debt Securities Held To Maturity Change In Present Value Expense Reversal
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CY2022Q1 us-gaap Financing Receivable Allowance For Credit Loss Writeoff After Recovery
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CY2022Q1 us-gaap Provision For Loan Losses Expensed
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CY2022Q1 us-gaap Off Balance Sheet Credit Loss Liability Credit Loss Expense Reversal
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3400000 USD
CY2022Q1 us-gaap Debt Securities Held To Maturity Credit Loss Expense Reversal
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3400000 USD
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100000 USD
CY2022Q1 ntrs Credit Loss Expense Reversal
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1600000 USD
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CY2022Q1 us-gaap Off Balance Sheet Credit Loss Liability
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CY2022Q1 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss Excluding Accrued Interest
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14600000 USD
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1100000 USD
CY2022Q1 ntrs Allowance For Credit Loss
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189500000 USD
CY2020Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
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190700000 USD
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61100000 USD
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CY2020Q4 ntrs Allowance For Credit Loss
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CY2021Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
400000 USD
CY2021Q1 ntrs Off Balance Sheet Allowance For Credit Loss Writeoff
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CY2021Q1 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss Writeoff
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CY2021Q1 ntrs Other Financial Assets Allowance For Credit Loss Writeoff
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CY2021Q1 ntrs Allowance For Credit Loss Writeoff
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400000 USD
CY2021Q1 us-gaap Financing Receivable Allowance For Credit Losses Recovery
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1300000 USD
CY2021Q1 ntrs Off Balance Sheet Credit Loss Liability Recovery
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CY2021Q1 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss Recovery
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CY2021Q1 ntrs Other Financial Assets Allowance For Credit Loss Recovery
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CY2021Q1 ntrs Allowance For Credit Loss Recovery
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1300000 USD
CY2021Q1 us-gaap Financing Receivable Allowance For Credit Loss Writeoff After Recovery
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CY2021Q1 ntrs Off Balance Sheet Credit Loss Liability Changein Present Value Expense Reversal
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0 USD
CY2021Q1 us-gaap Debt Securities Held To Maturity Change In Present Value Expense Reversal
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CY2021Q1 us-gaap Financing Receivable Allowance For Credit Loss Writeoff After Recovery
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CY2021Q1 us-gaap Provision For Loan Losses Expensed
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CY2021Q1 us-gaap Off Balance Sheet Credit Loss Liability Credit Loss Expense Reversal
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CY2021Q1 us-gaap Debt Securities Held To Maturity Credit Loss Expense Reversal
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1300000 USD
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900000 USD
CY2021Q1 ntrs Credit Loss Expense Reversal
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CY2021Q1 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
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CY2021Q1 us-gaap Off Balance Sheet Credit Loss Liability
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CY2021Q1 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss Excluding Accrued Interest
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CY2021Q1 ntrs Allowance For Credit Loss
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CY2022Q1 ntrs Credit Loss Expense Reversal And Available For Sale Allowance For Credit Loss
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2000000 USD
CY2021Q1 ntrs Credit Loss Expense Reversal And Available For Sale Allowance For Credit Loss
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CY2022Q1 ntrs Credit Loss Expense Reversal
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1600000 USD
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Loss Writeoff After Recovery
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CY2021Q1 us-gaap Financing Receivable Allowance For Credit Loss Writeoff After Recovery
FinancingReceivableAllowanceForCreditLossWriteoffAfterRecovery
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CY2022Q1 ntrs Financing Receivable Credit Loss Estimate Time Period
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P2Y
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CY2021Q4 us-gaap Off Balance Sheet Credit Loss Liability
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34100000 USD
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
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100000 USD
CY2022Q1 ntrs Off Balance Sheet Allowance For Credit Loss Writeoff
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CY2022Q1 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
3300000 USD
CY2022Q1 ntrs Off Balance Sheet Credit Loss Liability Recovery
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0 USD
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Loss Writeoff After Recovery
FinancingReceivableAllowanceForCreditLossWriteoffAfterRecovery
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CY2022Q1 ntrs Off Balance Sheet Credit Loss Liability Changein Present Value Expense Reversal
OffBalanceSheetCreditLossLiabilityChangeinPresentValueExpenseReversal
0 USD
CY2022Q1 us-gaap Provision For Loan Losses Expensed
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CY2022Q1 us-gaap Off Balance Sheet Credit Loss Liability Credit Loss Expense Reversal
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3400000 USD
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
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CY2022Q1 us-gaap Off Balance Sheet Credit Loss Liability
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CY2020Q4 us-gaap Off Balance Sheet Credit Loss Liability
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61100000 USD
CY2021Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
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400000 USD
CY2021Q1 ntrs Off Balance Sheet Allowance For Credit Loss Writeoff
OffBalanceSheetAllowanceForCreditLossWriteoff
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CY2021Q1 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
1300000 USD
CY2021Q1 ntrs Off Balance Sheet Credit Loss Liability Recovery
OffBalanceSheetCreditLossLiabilityRecovery
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CY2021Q1 us-gaap Financing Receivable Allowance For Credit Loss Writeoff After Recovery
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CY2021Q1 ntrs Off Balance Sheet Credit Loss Liability Changein Present Value Expense Reversal
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CY2021Q1 us-gaap Provision For Loan Losses Expensed
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CY2021Q1 us-gaap Off Balance Sheet Credit Loss Liability Credit Loss Expense Reversal
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CY2021Q1 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
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165400000 USD
CY2021Q1 us-gaap Off Balance Sheet Credit Loss Liability
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55100000 USD
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Losses Period Increase Decrease
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CY2022Q1 us-gaap Off Balance Sheet Credit Loss Liability Credit Loss Expense Reversal
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3400000 USD
CY2022Q1 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
137900000 USD
CY2021Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
166600000 USD
CY2022Q1 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
39101200000 USD
CY2021Q4 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
40314000000 USD
CY2022Q1 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
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CY2021Q4 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
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40480600000 USD
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
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16900000 USD
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
10100000 USD
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
119400000 USD
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
128300000 USD
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
136300000 USD
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
138400000 USD
CY2022Q1 ntrs Off Balance Sheet Credit Loss Liability Individually Evaluated For Impairment
OffBalanceSheetCreditLossLiabilityIndividuallyEvaluatedForImpairment
0 USD
CY2021Q4 ntrs Off Balance Sheet Credit Loss Liability Individually Evaluated For Impairment
OffBalanceSheetCreditLossLiabilityIndividuallyEvaluatedForImpairment
0 USD
CY2022Q1 ntrs Off Balance Sheet Credit Loss Liability Collectively Evaluated For Impairment
OffBalanceSheetCreditLossLiabilityCollectivelyEvaluatedForImpairment
37500000 USD
CY2021Q4 ntrs Off Balance Sheet Credit Loss Liability Collectively Evaluated For Impairment
OffBalanceSheetCreditLossLiabilityCollectivelyEvaluatedForImpairment
34100000 USD
CY2022Q1 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
37500000 USD
CY2021Q4 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
34100000 USD
CY2022Q1 ntrs Financing Receivable Allowance For Credit Losses And Off Balance Sheet Credit Loss Liability
FinancingReceivableAllowanceForCreditLossesAndOffBalanceSheetCreditLossLiability
173800000 USD
CY2021Q4 ntrs Financing Receivable Allowance For Credit Losses And Off Balance Sheet Credit Loss Liability
FinancingReceivableAllowanceForCreditLossesAndOffBalanceSheetCreditLossLiability
172500000 USD
CY2021Q4 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss Excluding Accrued Interest
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11200000 USD
CY2022Q1 us-gaap Debt Securities Held To Maturity Credit Loss Expense Reversal
DebtSecuritiesHeldToMaturityCreditLossExpenseReversal
3400000 USD
CY2022Q1 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesHeldToMaturityAllowanceForCreditLossExcludingAccruedInterest
14600000 USD
CY2020Q4 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesHeldToMaturityAllowanceForCreditLossExcludingAccruedInterest
7300000 USD
CY2021Q1 us-gaap Debt Securities Held To Maturity Credit Loss Expense Reversal
DebtSecuritiesHeldToMaturityCreditLossExpenseReversal
1300000 USD
CY2021Q1 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesHeldToMaturityAllowanceForCreditLossExcludingAccruedInterest
8600000 USD
CY2022Q1 ntrs Other Financial Assets Allowance For Credit Loss Excluding Accrued Interest
OtherFinancialAssetsAllowanceForCreditLossExcludingAccruedInterest
1100000 USD
CY2021Q4 ntrs Other Financial Assets Allowance For Credit Loss Excluding Accrued Interest
OtherFinancialAssetsAllowanceForCreditLossExcludingAccruedInterest
1000000 USD
CY2022Q1 us-gaap Financing Receivable Accrued Interest After Allowance For Credit Loss
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67300000 USD
CY2021Q4 us-gaap Financing Receivable Accrued Interest After Allowance For Credit Loss
FinancingReceivableAccruedInterestAfterAllowanceForCreditLoss
62600000 USD
CY2022Q1 us-gaap Debt Securities Held To Maturity Accrued Interest After Allowance For Credit Loss
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33500000 USD
CY2021Q4 us-gaap Debt Securities Held To Maturity Accrued Interest After Allowance For Credit Loss
DebtSecuritiesHeldToMaturityAccruedInterestAfterAllowanceForCreditLoss
30400000 USD
CY2022Q1 us-gaap Debt Securities Available For Sale Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAccruedInterestAfterAllowanceForCreditLoss
123700000 USD
CY2021Q4 us-gaap Debt Securities Available For Sale Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAccruedInterestAfterAllowanceForCreditLoss
129700000 USD
CY2022Q1 ntrs Other Financial Assets Accrued Interest After Allowance For Credit Loss
OtherFinancialAssetsAccruedInterestAfterAllowanceForCreditLoss
6100000 USD
CY2021Q4 ntrs Other Financial Assets Accrued Interest After Allowance For Credit Loss
OtherFinancialAssetsAccruedInterestAfterAllowanceForCreditLoss
2300000 USD
CY2022Q1 us-gaap Interest Receivable
InterestReceivable
230600000 USD
CY2021Q4 us-gaap Interest Receivable
InterestReceivable
225000000.0 USD
CY2022Q1 us-gaap Security Owned And Pledged As Collateral Fair Value
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51200000000 USD
CY2021Q4 us-gaap Security Owned And Pledged As Collateral Fair Value
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54600000000 USD
CY2022Q1 us-gaap Financial Instruments Owned And Pledged As Collateral Amount Eligible To Be Repledged By Counterparty
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328100000 USD
CY2021Q4 us-gaap Financial Instruments Owned And Pledged As Collateral Amount Eligible To Be Repledged By Counterparty
FinancialInstrumentsOwnedAndPledgedAsCollateralAmountEligibleToBeRepledgedByCounterparty
524100000 USD
CY2022Q1 ntrs Securities Received As Collateral At Fair Value
SecuritiesReceivedAsCollateralAtFairValue
2689600000 USD
CY2021Q4 ntrs Securities Received As Collateral At Fair Value
SecuritiesReceivedAsCollateralAtFairValue
2109800000 USD
CY2022Q1 us-gaap Fair Value Of Securities Received As Collateral That Have Been Resold Or Repledged
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1663000000 USD
CY2021 us-gaap Securities Received As Collateral Amount Repledged And Sold
SecuritiesReceivedAsCollateralAmountRepledgedAndSold
1419000000 USD
CY2021Q1 ntrs Average Interest Bearing Deposits In Federal Reserve Bank For Reserve Requirements
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0 USD
CY2022Q1 ntrs Average Interest Bearing Deposits In Federal Reserve Bank For Reserve Requirements
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0 USD
CY2021Q4 us-gaap Goodwill
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706200000 USD
CY2022Q1 us-gaap Goodwill Acquired During Period
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0 USD
CY2022Q1 us-gaap Goodwill Foreign Currency Translation Gain Loss
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-4200000 USD
CY2022Q1 us-gaap Goodwill
Goodwill
702000000.0 USD
CY2022Q1 us-gaap Number Of Reportable Segments
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2 segment
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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1168400000 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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1063700000 USD
CY2022Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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80900000 USD
CY2021Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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78700000 USD
CY2022Q1 us-gaap Noninterest Income Other
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88400000 USD
CY2021Q1 us-gaap Noninterest Income Other
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100900000 USD
CY2022Q1 us-gaap Noninterest Income
NoninterestIncome
1337700000 USD
CY2021Q1 us-gaap Noninterest Income
NoninterestIncome
1243300000 USD
CY2022Q1 ntrs Interest Revenue Expense Net Including Fully Taxable Equivalent Adjustment
InterestRevenueExpenseNetIncludingFullyTaxableEquivalentAdjustment
381000000.0 USD
CY2021Q1 ntrs Interest Revenue Expense Net Including Fully Taxable Equivalent Adjustment
InterestRevenueExpenseNetIncludingFullyTaxableEquivalentAdjustment
340100000 USD
CY2022Q1 ntrs Revenue Including Fully Taxable Equivalent Adjustment
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1718700000 USD
CY2021Q1 ntrs Revenue Including Fully Taxable Equivalent Adjustment
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1583400000 USD
CY2022Q1 ntrs Credit Loss Expense Reversal And Available For Sale Allowance For Credit Loss
CreditLossExpenseReversalAndAvailableForSaleAllowanceForCreditLoss
2000000.0 USD
CY2021Q1 ntrs Credit Loss Expense Reversal And Available For Sale Allowance For Credit Loss
CreditLossExpenseReversalAndAvailableForSaleAllowanceForCreditLoss
-30000000.0 USD
CY2022Q1 us-gaap Noninterest Expense
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1205900000 USD
CY2021Q1 us-gaap Noninterest Expense
NoninterestExpense
1117500000 USD
CY2022Q1 ntrs Income Loss Before Income Taxes Including Fully Taxable Equivalent Adjustment
IncomeLossBeforeIncomeTaxesIncludingFullyTaxableEquivalentAdjustment
510800000 USD
CY2021Q1 ntrs Income Loss Before Income Taxes Including Fully Taxable Equivalent Adjustment
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495900000 USD
CY2022Q1 ntrs Income Tax Expense Benefit Including Fully Taxable Equivalent Adjustment
IncomeTaxExpenseBenefitIncludingFullyTaxableEquivalentAdjustment
121500000 USD
CY2021Q1 ntrs Income Tax Expense Benefit Including Fully Taxable Equivalent Adjustment
IncomeTaxExpenseBenefitIncludingFullyTaxableEquivalentAdjustment
120800000 USD
CY2022Q1 us-gaap Net Income Loss
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389300000 USD
CY2021Q1 us-gaap Net Income Loss
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375100000 USD
CY2022Q1 ntrs Percentage Of Consolidated Net Income
PercentageOfConsolidatedNetIncome
1
CY2021Q1 ntrs Percentage Of Consolidated Net Income
PercentageOfConsolidatedNetIncome
1
CY2022Q1 ntrs Segment Reporting Information Consolidated Average Assets
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162143000000 USD
CY2021Q1 ntrs Segment Reporting Information Consolidated Average Assets
SegmentReportingInformationConsolidatedAverageAssets
153255800000 USD
CY2022Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2021Q4 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
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25000000 shares
CY2022Q1 us-gaap Treasury Stock Shares Acquired
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295410 shares
CY2022Q1 us-gaap Treasury Stock Value Acquired Cost Method
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33800000 USD
CY2022Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
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114.58
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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-871400000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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-362100000 USD
CY2022Q1 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
-1153200000 USD
CY2022Q1 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-281800000 USD
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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-871400000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
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CY2021Q1 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
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-105900000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-362100000 USD
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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208024962 shares
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
208112824 shares
CY2022Q1 us-gaap Net Income Loss
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389300000 USD
CY2021Q1 us-gaap Net Income Loss
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375100000 USD
CY2022Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
16200000 USD
CY2021Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
16200000 USD
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
373100000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
358900000 USD
CY2022Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
3100000 USD
CY2021Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
3700000 USD
CY2022Q1 ntrs Net Income Loss Allocated To Common Stockholders Basic
NetIncomeLossAllocatedToCommonStockholdersBasic
370000000.0 USD
CY2021Q1 ntrs Net Income Loss Allocated To Common Stockholders Basic
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355200000 USD
CY2022Q1 us-gaap Earnings Per Share Basic
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1.78
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.71
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
208024962 shares
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
208112824 shares
CY2022Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
784171 shares
CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
833624 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
208809133 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
208946448 shares
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
370000000.0 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
355200000 USD
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.77
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.70
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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0 shares
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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0 shares
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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1168400000 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1063700000 USD
CY2022Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
80900000 USD
CY2021Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
78700000 USD
CY2022Q1 ntrs Treasury Management Fees
TreasuryManagementFees
11100000 USD
CY2021Q1 ntrs Treasury Management Fees
TreasuryManagementFees
11200000 USD
CY2022Q1 ntrs Security Commissionsand Trading Income
SecurityCommissionsandTradingIncome
36200000 USD
CY2021Q1 ntrs Security Commissionsand Trading Income
SecurityCommissionsandTradingIncome
34800000 USD
CY2022Q1 us-gaap Other Operating Income
OtherOperatingIncome
41100000 USD
CY2021Q1 us-gaap Other Operating Income
OtherOperatingIncome
54900000 USD
CY2022Q1 us-gaap Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
0 USD
CY2021Q1 us-gaap Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
0 USD
CY2022Q1 ntrs Other Noninterest Income
OtherNoninterestIncome
169300000 USD
CY2021Q1 ntrs Other Noninterest Income
OtherNoninterestIncome
179600000 USD
CY2022Q1 us-gaap Noninterest Income
NoninterestIncome
1337700000 USD
CY2021Q1 us-gaap Noninterest Income
NoninterestIncome
1243300000 USD
CY2022Q1 ntrs Security Commissionsand Trading Income
SecurityCommissionsandTradingIncome
36200000 USD
CY2022Q1 us-gaap Other Operating Income
OtherOperatingIncome
41100000 USD
CY2021Q1 ntrs Security Commissionsand Trading Income
SecurityCommissionsandTradingIncome
34800000 USD
CY2021Q1 us-gaap Other Operating Income
OtherOperatingIncome
54900000 USD
CY2022Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1119800000 USD
CY2021Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1052100000 USD
CY2022Q1 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
191200000 USD
CY2021Q1 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
172000000.0 USD
CY2022Q1 us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
170800000 USD
CY2021Q1 us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
173900000 USD
CY2022Q1 us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
400000 USD
CY2021Q1 us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
400000 USD
CY2022Q1 us-gaap Interest Income Deposits With Financial Institutions
InterestIncomeDepositsWithFinancialInstitutions
2600000 USD
CY2021Q1 us-gaap Interest Income Deposits With Financial Institutions
InterestIncomeDepositsWithFinancialInstitutions
2400000 USD
CY2022Q1 ntrs Interest Income Federal Reserve Deposits And Other
InterestIncomeFederalReserveDepositsAndOther
18500000 USD
CY2021Q1 ntrs Interest Income Federal Reserve Deposits And Other
InterestIncomeFederalReserveDepositsAndOther
1200000 USD
CY2022Q1 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
383500000 USD
CY2021Q1 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
349900000 USD
CY2022Q1 us-gaap Interest Expense Deposits
InterestExpenseDeposits
-15900000 USD
CY2021Q1 us-gaap Interest Expense Deposits
InterestExpenseDeposits
-13400000 USD
CY2022Q1 us-gaap Interest Expense Federal Funds Purchased
InterestExpenseFederalFundsPurchased
0 USD
CY2021Q1 us-gaap Interest Expense Federal Funds Purchased
InterestExpenseFederalFundsPurchased
100000 USD
CY2022Q1 us-gaap Interest Expense Securities Sold Under Agreements To Repurchase
InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase
300000 USD
CY2021Q1 us-gaap Interest Expense Securities Sold Under Agreements To Repurchase
InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase
0 USD
CY2022Q1 us-gaap Interest Expense Other Short Term Borrowings
InterestExpenseOtherShortTermBorrowings
3100000 USD
CY2021Q1 us-gaap Interest Expense Other Short Term Borrowings
InterestExpenseOtherShortTermBorrowings
3500000 USD
CY2022Q1 ntrs Interest Expense Senior Notes
InterestExpenseSeniorNotes
9600000 USD
CY2021Q1 ntrs Interest Expense Senior Notes
InterestExpenseSeniorNotes
13700000 USD
CY2022Q1 us-gaap Interest Expense Other Long Term Debt
InterestExpenseOtherLongTermDebt
5400000 USD
CY2021Q1 us-gaap Interest Expense Other Long Term Debt
InterestExpenseOtherLongTermDebt
5300000 USD
CY2022Q1 us-gaap Interest Expense Junior Subordinated Debentures
InterestExpenseJuniorSubordinatedDebentures
0 USD
CY2021Q1 us-gaap Interest Expense Junior Subordinated Debentures
InterestExpenseJuniorSubordinatedDebentures
600000 USD
CY2022Q1 us-gaap Interest Expense
InterestExpense
2500000 USD
CY2021Q1 us-gaap Interest Expense
InterestExpense
9800000 USD
CY2022Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
381000000.0 USD
CY2021Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
340100000 USD
CY2022Q1 ntrs Low And Negative Interest Rates Percentage Of Interest Bearing Deposits
LowAndNegativeInterestRatesPercentageOfInterestBearingDeposits
0.68
CY2021Q1 ntrs Low And Negative Interest Rates Percentage Of Interest Bearing Deposits
LowAndNegativeInterestRatesPercentageOfInterestBearingDeposits
0.69
CY2022Q1 us-gaap Noninterest Income Other Operating Income
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41100000 USD
CY2021Q1 us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
54900000 USD
CY2022Q1 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
10800000 USD
CY2021Q1 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
7900000 USD
CY2022Q1 us-gaap Other Labor Related Expenses
OtherLaborRelatedExpenses
2900000 USD
CY2021Q1 us-gaap Other Labor Related Expenses
OtherLaborRelatedExpenses
6800000 USD
CY2022Q1 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
5800000 USD
CY2021Q1 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
3600000 USD
CY2022Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2700000 USD
CY2021Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4300000 USD
CY2022Q1 ntrs Noninterest Expense Other
NoninterestExpenseOther
57500000 USD
CY2021Q1 ntrs Noninterest Expense Other
NoninterestExpenseOther
49100000 USD
CY2022Q1 us-gaap Other Noninterest Expense
OtherNoninterestExpense
79700000 USD
CY2021Q1 us-gaap Other Noninterest Expense
OtherNoninterestExpense
71700000 USD
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
70000000.0 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
50500000 USD
CY2022Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
17600000 USD
CY2021Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
12700000 USD
CY2022Q1 us-gaap Variable Interest Entity Entity Maximum Loss Exposure Amount
VariableInterestEntityEntityMaximumLossExposureAmount
0 USD
CY2022Q1 us-gaap Affordable Housing Tax Credits And Other Tax Benefits Amount
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22700000 USD
CY2021Q1 us-gaap Affordable Housing Tax Credits And Other Tax Benefits Amount
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23000000 USD
CY2022Q1 us-gaap Investment Company Voluntary Fee Waived
InvestmentCompanyVoluntaryFeeWaived
50700000 USD
CY2021Q1 us-gaap Investment Company Voluntary Fee Waived
InvestmentCompanyVoluntaryFeeWaived
50200000 USD
CY2022Q1 us-gaap Investment Company Financial Support To Investee Contractually Required Amount
InvestmentCompanyFinancialSupportToInvesteeContractuallyRequiredAmount
0 USD
CY2022Q1 us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
Commitments and Contingent Liabilities<div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Off-Balance Sheet Financial Instruments, Guarantees and Other Commitments. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Northern Trust, in the normal course of business, enters into various types of commitments and issues letters of credit to meet the liquidity and credit enhancement needs of its clients. The contractual amounts of these instruments represent the maximum potential credit exposure should the instrument be fully drawn upon and the client default. To control the credit risk associated with entering into commitments and issuing letters of credit, Northern Trust subjects such activities to the same credit quality and monitoring controls as its lending activities. Northern Trust does not believe the total contractual amount of these instruments to be representative of its future credit exposure or funding requirements.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table provides details of Northern Trust's off-balance sheet financial instruments as of March 31, 2022 and December 31, 2021.</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">TABLE 68: SUMMARY OF OFF-BALANCE SHEET FINANCIAL INSTRUMENTS</span></div><div style="margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:37.496%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.133%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.133%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.133%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.133%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.133%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.139%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7pt;font-weight:700;line-height:100%">MARCH 31, 2022</span></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7pt;font-weight:400;line-height:100%">DECEMBER 31, 2021</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7pt;font-weight:400;line-height:100%">($ In Millions)</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7pt;font-weight:700;line-height:100%">ONE YEAR AND LESS</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7pt;font-weight:700;line-height:100%">OVER ONE YEAR</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7pt;font-weight:700;line-height:100%">TOTAL</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7pt;font-weight:400;line-height:100%">ONE YEAR AND LESS</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7pt;font-weight:400;line-height:100%">OVER ONE YEAR</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7pt;font-weight:400;line-height:100%">TOTAL</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Undrawn Commitments</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,806.3</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18,106.6</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">28,912.9</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,567.0 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,855.2 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27,422.2 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Standby Letters of Credit and Financial Guarantees</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)(3)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,572.4</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">816.1</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,388.5</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,485.6 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">553.9 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,039.5 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Commercial Letters of Credit</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">38.5</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1.0</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">39.5</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">68.5 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.1 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">69.6 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Custody Securities Lent with Indemnification</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">155,653.5</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">—</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">155,653.5</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">170,445.3 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">170,445.3 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total Off-Balance Sheet Financial Instruments</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">170,070.7</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18,923.7</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">188,994.4</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">183,566.4 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18,410.2 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">201,976.6 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:4.55pt;font-style:italic;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%"> These amounts exclude $402.0 million and $366.6 million of commitments participated to others at March 31, 2022 and December 31, 2021, respectively.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:4.55pt;font-style:italic;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%"> These amounts include $35.7 million and $30.5 million of standby letters of credit secured by cash deposits or participated to others as of March 31, 2022 and December 31, 2021, respectively.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:4.55pt;font-style:italic;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(3) </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">These amounts include a $2,674.8 million and $2,309.6 million guarantee to the Fixed Income Clearing Corporation (FICC) under the sponsored member program, without taking into consideration the related collateral, as of March 31, 2022 and December 31, 2021, respectively.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Undrawn Commitments </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">generally have fixed expiration dates or other termination clauses. Since a significant portion of the commitments are expected to expire without being drawn upon, the total commitment amount does not necessarily represent future loans or liquidity requirements.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Standby Letters of Credit</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> obligate Northern Trust to meet certain financial obligations of its clients, if, under the contractual terms of the agreement, the clients are unable to do so. These instruments are primarily issued to support public and private financial commitments, including commercial paper, bond financing, initial margin requirements on futures exchanges and similar transactions. Northern Trust is obligated to meet the entire financial obligation of these agreements and in certain cases is able to recover the amounts paid through recourse against collateral received or other participants. </span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Financial Guarantees</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> are issued by Northern Trust to guarantee the performance of a client to a third party under certain arrangements.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Commercial Letters of Credit</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> are instruments issued by Northern Trust on behalf of its clients that authorize a third party (the beneficiary) to draw drafts up to a stipulated amount under the specified terms and conditions of the agreement and other similar instruments. Commercial letters of credit are issued primarily to facilitate international trade.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Custody Securities Lent with Indemnification</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> involves Northern Trust lending securities owned by clients to borrowers who are reviewed and approved by the Northern Trust Capital Markets Credit Committee, as part of its securities custody activities and at the direction of its clients. In connection with these activities, Northern Trust has issued indemnifications to certain clients against certain losses that are a direct result of a borrower’s failure to return securities when due, should the value of such securities exceed the value of the collateral required to be posted. Borrowers are required to collateralize fully securities received with cash or marketable securities. As securities are loaned, collateral is maintained at a minimum of 100% of the fair value of the securities plus accrued interest. The collateral is revalued on a daily basis. The amount of securities loaned as of March 31, 2022 and December 31, 2021 subject to indemnification was $155.7 billion and $170.4 billion, respectively. Because of the credit quality of the borrowers and the requirement to fully collateralize securities borrowed, management believes that the exposure to credit loss from this activity is not significant and no liability was recorded as of March 31, 2022 or December 31, 2021, related to these indemnifications.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Unsettled Repurchase and Reverse Repurchase Agreements.</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Northern Trust enters into repurchase agreements and reverse repurchase agreements which may settle at a future date. In repurchase agreements, Northern Trust receives cash from and provides securities as collateral to a counterparty. In reverse repurchase agreements, Northern Trust advances cash to and receives securities as collateral from a counterparty. These transactions are recorded on the consolidated balance sheets on the settlement date. As of March 31, 2022 and December 31, 2021, there were no unsettled repurchase or reverse repurchase agreements. </span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Sponsored Member Program</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">.</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Northern Trust is an approved Government Securities Division (GSD) netting and sponsoring member in the FICC sponsored member program, through which Northern Trust submits eligible repurchase and reverse repurchase transactions in U.S. Government securities between Northern Trust and its sponsored member clients for novation and clearing. Northern Trust may sponsor clients to clear their eligible repurchase transactions with the FICC. As a sponsoring member, Northern Trust guarantees to the FICC the prompt and full payment and performance of its sponsored member clients’ respective obligations under the FICC GSD’s rules. To mitigate Northern Trust’s credit exposure under this guarantee, Northern Trust obtains a security interest in its sponsored member clients’ collateral. See Note 23 — Offsetting of Assets and Liabilities for additional information on Northern Trust’s repurchase and reverse repurchase agreements.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Clearing and Settlement Organizations</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">.</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Bank is a participating member of various cash, securities and foreign exchange clearing and settlement organizations. It participates in these organizations on behalf of its clients and on its own behalf as a result of its own activities. A wide variety of cash and securities transactions are settled through these organizations, including those involving U.S. Treasuries, obligations of states and political subdivisions, asset-backed securities, commercial paper, dollar placements, and securities issued by the Government National Mortgage Association.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain of these industry clearing and settlement exchanges require their members to guarantee their obligations and liabilities and/or to provide liquidity support in the event other members do not honor their obligations as stipulated in each clearing organization’s membership agreement. Exposure related to these agreements varies, primarily as a result of fluctuations in the volume of transactions cleared through the organizations. At March 31, 2022 and December 31, 2021, Northern Trust has not recorded any material liabilities under these arrangements as Northern Trust believes the likelihood that a clearing or settlement exchange (of which Northern Trust is a member) would become insolvent is remote. Controls related to these clearing transactions are closely monitored by management to protect the assets of Northern Trust and its clients.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Legal Proceedings.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> In the normal course of business, the Corporation and its subsidiaries are routinely defendants in or parties to pending and threatened legal actions, and are subject to regulatory examinations, information-gathering requests, investigations, and proceedings, both formal and informal. In certain legal actions, claims for substantial monetary damages are </span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">asserted. In regulatory matters, claims for disgorgement, restitution, penalties and/or other remedial actions or sanctions may be sought.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Based on current knowledge, after consultation with legal counsel and after taking into account current accruals, management does not believe that losses, fines or penalties, if any, arising from pending litigation or threatened legal actions or regulatory matters either individually or in the aggregate, after giving effect to applicable reserves and insurance coverage will have a material adverse effect on the consolidated financial position or liquidity of the Corporation, although such matters could have a material adverse effect on the Corporation’s operating results for a particular period.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Under GAAP, (i) an event is “probable” if the “future event or events are likely to occur”; (ii) an event is “reasonably possible” if “the chance of the future event or events occurring is more than remote but less than likely”; and (iii) an event is “remote” if “the chance of the future event or events occurring is slight.”</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The outcome of litigation and regulatory matters is inherently difficult to predict and/or the range of loss often cannot be reasonably estimated, particularly for matters that (i) will be decided by a jury, (ii) are in early stages, (iii) involve uncertainty as to the likelihood of a class being certified or the ultimate size of the class, (iv) are subject to appeals or motions, (v) involve significant factual issues to be resolved, including with respect to the amount of damages, (vi) do not specify the amount of damages sought or (vii) seek very large damages based on novel and complex damage and liability legal theories. Accordingly, the Corporation cannot reasonably estimate the eventual outcome of these pending matters, the timing of their ultimate resolution or what the eventual loss, fines or penalties, if any, related to each pending matter will be.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In accordance with applicable accounting guidance, the Corporation records accruals for litigation and regulatory matters when those matters present loss contingencies that are both probable and reasonably estimable. When loss contingencies are not both probable and reasonably estimable, the Corporation does not record accruals. No material accruals have been recorded for pending litigation or threatened legal actions or regulatory matters.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For a limited number of matters for which a loss is reasonably possible in future periods, whether in excess of an accrued liability or where there is no accrued liability, the Corporation is able to estimate a range of possible loss. As of March 31, 2022, the Corporation has estimated the range of reasonably possible loss for these matters to be from zero to approximately $25 million in the aggregate. The Corporation’s estimate with respect to the aggregate range of reasonably possible loss is based upon currently available information and is subject to significant judgment and a variety of assumptions and known and unknown uncertainties. The matters underlying the estimated range will change from time to time, and actual results may vary significantly from the current estimate.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In certain other pending matters, there may be a range of reasonably possible loss (including reasonably possible loss in excess of amounts accrued) that cannot be reasonably estimated for the reasons described above. Such matters are not included in the estimated range of reasonably possible loss discussed above.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2015, Northern Trust Fiduciary Services (Guernsey) Limited (NTFS), an indirect subsidiary of the Corporation, was charged by a French investigating magistrate judge with complicity in estate tax fraud in connection with the administration of two trusts for which it serves as trustee. Charges also were brought against a number of other persons and entities related to this matter. In 2017, a French court found no estate tax fraud had occurred and NTFS and all other persons and entities charged were acquitted. The Public Prosecutor’s Office of France appealed the court decision and in June 2018 a French appellate court issued its opinion on the matter, acquitting all persons and entities charged, including NTFS. In January 2021, the Cour de Cassation, the highest court in France, reversed the June 2018 appellate court ruling, requiring a re-trial at the appellate court level. The re-trial proceedings in the appellate court have not yet been scheduled. As trustee, NTFS provided no tax advice and had no involvement in the preparation or filing of the challenged estate tax filings.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Visa Class B Common Shares.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Northern Trust, as a member of Visa U.S.A. Inc. (Visa U.S.A.) and in connection with the 2007 restructuring of Visa U.S.A. and its affiliates and the 2008 initial public offering of Visa Inc. (Visa), received certain Visa Class B common shares. The Visa Class B common shares are subject to certain selling restrictions until the final resolution of certain litigation related to interchange fees involving Visa (the covered litigation), at which time the shares are convertible into Visa Class A common shares based on a conversion rate dependent upon the ultimate cost of resolving the covered litigation. On June 28, 2018, September 27, 2019 and December 29, 2021, Visa deposited an additional $600 million, $300 million, and $250 million, respectively, into an escrow account previously established with respect to the covered litigation. As a result of the additional contributions to the escrow account, the rate at which Visa Class B common shares will convert into Visa Class A common shares was reduced. </span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In September 2018, Visa reached a proposed class settlement agreement covering damage claims but not injunctive relief claims regarding the covered litigation. In December 2019, the district court granted final approval for the proposed class settlement agreement. Certain merchants have opted out of the class settlement and are pursuing claims separately, while other merchants have appealed the approval order granted by the district court. The ultimate resolution of the covered litigation, the </span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">timing for removal of the selling restrictions on the Visa Class B common shares and the rate at which such shares will ultimately convert into Visa Class A common shares are uncertain.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In June 2016 and 2015, Northern Trust recorded a $123.1 million and $99.9 million net gain on the sale of 1.1 million and 1.0 million of its Visa Class B common shares, respectively. These sales do not affect Northern Trust’s risk related to the impact of the covered litigation on the rate at which such shares will ultimately convert into Visa Class A common shares. Northern Trust continued to hold approximately 4.1 million Visa Class B common shares, which are recorded at their original cost basis of zero, as of March 31, 2022 and December 31, 2021.</span></div>
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CY2022Q1 us-gaap Derivative Assets
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CY2021Q4 us-gaap Derivative Assets
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CY2022Q1 us-gaap Gain Loss On Discontinuation Of Cash Flow Hedge Due To Forecasted Transaction Probable Of Not Occurring Net
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CY2022Q1 us-gaap Gain Loss On Discontinuation Of Cash Flow Hedge Due To Forecasted Transaction Probable Of Not Occurring Net
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CY2021Q1 us-gaap Interest Expense
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CY2022Q1 ntrs Hedged Asset Fair Value Hedge Discontinued Cumulative Increase Decrease
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3266900000 USD
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CY2022Q1 us-gaap Securities Purchased Under Agreements To Resell Liability
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444700000 USD
CY2021Q4 us-gaap Derivative Asset Not Subject To Master Netting Arrangement
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444700000 USD
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CY2021Q4 ntrs Derivative Asset Not Subjectto Master Netting Arrangement Net
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444700000 USD
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2347400000 USD
CY2021Q4 us-gaap Derivative Asset Fair Value Gross Liability
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1533800000 USD
CY2021Q4 us-gaap Derivative Assets
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813600000 USD
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2800000 USD
CY2021Q4 us-gaap Derivative Asset Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
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810800000 USD
CY2021Q4 us-gaap Securities Purchased Under Agreements To Resell Gross
SecuritiesPurchasedUnderAgreementsToResellGross
2078900000 USD
CY2021Q4 us-gaap Securities Purchased Under Agreements To Resell Liability
SecuritiesPurchasedUnderAgreementsToResellLiability
1392500000 USD
CY2021Q4 us-gaap Securities Purchased Under Agreements To Resell
SecuritiesPurchasedUnderAgreementsToResell
686400000 USD
CY2021Q4 ntrs Derivative Asset Securities Purchased Under Agreements To Resell Collateral
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellCollateral
686400000 USD
CY2022Q1 ntrs Other Assets Excluding Derivatives And Non Financial Instruments
OtherAssetsExcludingDerivativesAndNonFinancialInstruments
7600000000 USD
CY2021Q4 ntrs Other Assets Excluding Derivatives And Non Financial Instruments
OtherAssetsExcludingDerivativesAndNonFinancialInstruments
7800000000 USD
CY2022Q1 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
2821900000 USD
CY2022Q1 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
2430400000 USD
CY2022Q1 us-gaap Derivative Fair Value Of Derivative Liability Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
391500000 USD
CY2022Q1 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
0 USD
CY2022Q1 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
391500000 USD
CY2022Q1 us-gaap Derivative Liability Not Subject To Master Netting Arrangement
DerivativeLiabilityNotSubjectToMasterNettingArrangement
533100000 USD
CY2022Q1 us-gaap Derivative Liability Not Subject To Master Netting Arrangement
DerivativeLiabilityNotSubjectToMasterNettingArrangement
533100000 USD
CY2022Q1 us-gaap Derivative Liability Not Subject To Master Netting Arrangement Deduction
DerivativeLiabilityNotSubjectToMasterNettingArrangementDeduction
0 USD
CY2022Q1 ntrs Derivative Liability Not Subject To Master Netting Arrangement Net
DerivativeLiabilityNotSubjectToMasterNettingArrangementNet
533100000 USD
CY2022Q1 us-gaap Derivative Liability Fair Value Gross Liability Including Not Subject To Master Netting Arrangement
DerivativeLiabilityFairValueGrossLiabilityIncludingNotSubjectToMasterNettingArrangement
3355000000 USD
CY2022Q1 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
2430400000 USD
CY2022Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
924600000 USD
CY2022Q1 ntrs Derivative Liability Not Offset
DerivativeLiabilityNotOffset
0 USD
CY2022Q1 us-gaap Derivative Liability Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
924600000 USD
CY2022Q1 us-gaap Securities Sold Under Agreements To Repurchase Gross
SecuritiesSoldUnderAgreementsToRepurchaseGross
1976300000 USD
CY2022Q1 us-gaap Securities Purchased Under Agreements To Resell Liability
SecuritiesPurchasedUnderAgreementsToResellLiability
1646600000 USD
CY2022Q1 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
329700000 USD
CY2022Q1 ntrs Derivative Liability Securities Sold Under Agreement To Repurchase Collateral
DerivativeLiabilitySecuritiesSoldUnderAgreementToRepurchaseCollateral
329700000 USD
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
1566500000 USD
CY2021Q4 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
1283500000 USD
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
283000000.0 USD
CY2021Q4 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
0 USD
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
283000000.0 USD
CY2021Q4 us-gaap Derivative Liability Not Subject To Master Netting Arrangement
DerivativeLiabilityNotSubjectToMasterNettingArrangement
568700000 USD
CY2021Q4 us-gaap Derivative Liability Not Subject To Master Netting Arrangement
DerivativeLiabilityNotSubjectToMasterNettingArrangement
568700000 USD
CY2021Q4 ntrs Derivative Liability Not Subject To Master Netting Arrangement Net
DerivativeLiabilityNotSubjectToMasterNettingArrangementNet
568700000 USD
CY2021Q4 us-gaap Derivative Liability Fair Value Gross Liability Including Not Subject To Master Netting Arrangement
DerivativeLiabilityFairValueGrossLiabilityIncludingNotSubjectToMasterNettingArrangement
2135200000 USD
CY2021Q4 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
1283500000 USD
CY2021Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
851700000 USD
CY2021Q4 ntrs Derivative Liability Not Offset
DerivativeLiabilityNotOffset
0 USD
CY2021Q4 us-gaap Derivative Liability Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
851700000 USD
CY2021Q4 us-gaap Securities Sold Under Agreements To Repurchase Gross
SecuritiesSoldUnderAgreementsToRepurchaseGross
1924400000 USD
CY2021Q4 us-gaap Securities Purchased Under Agreements To Resell Liability
SecuritiesPurchasedUnderAgreementsToResellLiability
1392500000 USD
CY2021Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
531900000 USD
CY2021Q4 ntrs Derivative Liability Securities Sold Under Agreement To Repurchase Collateral
DerivativeLiabilitySecuritiesSoldUnderAgreementToRepurchaseCollateral
531900000 USD
CY2022Q1 ntrs Other Liabilities Excluding Derivatives And Non Financial Instruments
OtherLiabilitiesExcludingDerivativesAndNonFinancialInstruments
3300000000 USD
CY2022Q1 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
1163800000 USD
CY2021Q4 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
111500000 USD
CY2022Q1 us-gaap Collateral Already Posted Aggregate Fair Value
CollateralAlreadyPostedAggregateFairValue
1068300000 USD
CY2021Q4 us-gaap Collateral Already Posted Aggregate Fair Value
CollateralAlreadyPostedAggregateFairValue
84200000 USD
CY2022Q1 us-gaap Assets Needed For Immediate Settlement Aggregate Fair Value
AssetsNeededForImmediateSettlementAggregateFairValue
95500000 USD
CY2021Q4 us-gaap Assets Needed For Immediate Settlement Aggregate Fair Value
AssetsNeededForImmediateSettlementAggregateFairValue
27300000 USD

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