NORTHERN TRUST CORP

10-K & 10-Q Filings

Northern Trust Corporation is a leading financial services provider offering asset servicing, asset management, and banking solutions to corporations, institutions, families, and individuals. Its principal subsidiary is The Northern Trust Company, a Chicago-based Illinois banking corporation with consolidated assets of $150.3 billion and common bank equity capital of $11.6 billion. The Corporation was formed in 1971 and has a global presence with offices in 24 U.S. states, Washington, D.C., Canada, Europe, the Middle East, and the Asia-Pacific region. Northern Trust's business strategy is to provide quality financial services to targeted market segments and differentiate itself with premier, holistic solutions and exceptional experiences tailored to meet clients' needs. Its two client-focused reporting segments are Asset Servicing and Wealth Management. Asset Servicing is a global provider of asset servicing and related services to institutional investors, including custody, fund administration, investment operations outsourcing, investment management, and securities lending. Asset Servicing had total assets under custody/administration (AUC/A), assets under custody, and assets under management (AUM) of $14.36 trillion, $10.88 trillion, and $1.03 trillion, respectively, at December 31, 2023. Wealth Management focuses on high-net-worth individuals and families, business owners, executives, professionals, retirees, and established privately-held businesses. Wealth Management provides trust, investment management, custody, philanthropic services, financial consulting, and private and business banking. Wealth Management had AUC/A, assets under custody, and AUM of $1.04 trillion, $1.03 trillion, and $402.5 billion, respectively, at December 31, 2023. Asset Management supports the Asset Servicing and Wealth Management reporting segments by providing a broad range of asset management and related services and other products to clients around the world. Asset Management operates internationally through subsidiaries and distribution arrangements and had managed $1.43 trillion in assets as of December 31, 2023. Northern Trust's website is www.northerntrust.com, and its common stock is traded on the NASDAQ Stock Market under the ticker symbol NTRS.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$954.10
965.30
913.10
999.50
1113.10
1260.90
1457.20
1637.20
1692.40
1318.20
1464.20
1875.20
1957.50
516.20
536.60
6.17%3.95%Net Interest Income (+)
$1009.10
990.30
933.10
1005.50
1070.10
1234.90
1429.20
1622.70
1677.90
1443.20
1382.70
1887.20
1982.00
531.20
528.10
5.79%-0.58%Interest Expense (-)
$399.50
297.40
222.40
181.40
153.90
182.00
340.20
698.70
822.00
200.30
23.80
990.50
5343.00
924.20
1917.50
24.12%107.48%Non Interest Income (+)
$-55.00
-25.00
-20.00
-6.00
43.00
26.00
28.00
14.50
14.50
-125.00
81.50
-12.00
-24.50
-15.00
8.50
156.67%Operating Expenses (-)
$2831.20
2878.80
2993.80
3135.00
3280.60
3470.70
3769.40
4016.90
4143.50
4348.20
4535.90
4982.90
5284.20
1285.60
1364.70
5.34%6.15%Operating Income/Loss (+)
$-1877.10
-1913.50
-2080.70
-2135.50
-2167.50
-2209.80
-2312.20
-2379.70
-2451.10
-3030.00
-3071.70
-3107.70
-3326.70
-769.40
-828.10
-7.63%Provision for Loan Loss (-)
$55.00
25.00
20.00
6.00
-43.00
Non-operating Income/Expense (+)
$
-1.50
-4.30
-0.30
-3.20
-1.60
Earnings before Tax (+)
$883.70
992.30
1075.50
1190.20
1465.00
1517.10
1633.90
1957.80
1944.10
1627.60
2010.10
1766.30
1464.80
444.00
290.60
4.30%-34.55%Tax Expense (-)
$280.10
305.00
344.20
378.40
491.20
484.60
434.90
401.40
451.90
418.30
464.80
430.30
357.50
109.40
75.90
2.05%-30.62%Income/Loss (Continuing Operations) (+)
$603.60
687.30
731.30
811.80
973.80
1032.50
1199.00
1556.40
1492.20
1209.30
1545.30
1336.00
1107.30
334.60
214.70
5.19%-35.83%Net Income/Loss (+)
$603.60
687.30
731.30
811.80
973.80
1032.50
1199.00
1556.40
1492.20
1209.30
1545.30
1336.00
1107.30
334.60
214.70
5.19%-35.83%Preferred & Other Distributions (-)
$
9.50
23.40
23.40
49.80
46.40
46.40
56.20
41.80
41.80
41.80
16.20
16.20
0.00%Net Income/Loss (Common) (+)
$603.60
687.30
731.30
802.30
950.40
1009.10
1149.20
1510.00
1445.80
1153.10
1503.50
1294.20
1065.50
318.40
198.50
4.85%-37.66%EPS (Basic)
$2.47
2.82
3.01
3.34
4.03
4.35
4.95
6.68
6.66
5.48
7.16
6.16
5.09
1.51
0.96
6.21%-36.42%EPS (Diluted)
$2.47
2.81
2.99
3.32
3.99
4.32
4.92
6.64
6.63
5.46
7.14
6.14
5.08
1.51
0.96
6.19%-36.42%Weighted Avg Shares (Basic)
241.40
240.42
239.27
235.83
232.28
227.58
228.26
223.15
214.53
208.32
208.08
208.31
207.25
208.19
204.63
-1.26%-1.71%Weighted Avg Shares (Diluted)
241.81
240.88
240.55
237.72
234.22
229.15
229.65
224.49
215.60
209.01
208.90
208.87
207.56
208.73
205.13
-1.26%-1.72%Cash
$21133.00
22617.00
23089.40
19041.60
22201.90
12106.90
11454.30
10045.80
10049.10
10358.60
5692.60
7697.60
7515.20
7471.30
7180.90
-8.26%-3.89%Securities & Long-term Investments
$60063.60
60538.00
60105.80
65374.20
70748.30
69240.90
66203.10
83620.20
82465.90
59813.60
102055.60
94629.30
96928.50
91713.20
96479.40
4.07%5.20%Property, Plant & Equipment (Net)
$494.50
469.90
458.80
444.30
446.90
466.60
464.60
428.20
483.30
514.90
488.70
500.50
502.20
481.50
488.00
0.13%1.35%Goodwill & Intangibles
$532.00
537.80
540.70
533.20
526.40
519.40
605.60
669.30
696.80
707.20
706.20
691.30
702.30
695.10
697.50
2.34%0.35%Other Assets
$18000.60
13301.10
18752.60
24553.20
22826.10
41593.10
59862.90
37449.00
43133.30
98609.60
74946.70
51518.00
45134.90
50746.90
51265.20
7.96%1.02%Assets (Total)
$100223.70
97463.80
102947.30
109946.50
116749.60
123926.90
138590.50
132212.50
136828.40
170003.90
183889.80
155036.70
150783.10
151108.00
156111.00
3.46%3.31%Deposits
$82677.50
81407.80
84098.10
90757.00
96868.90
101651.70
112390.80
104496.80
109120.60
143878.00
159928.40
123932.10
116164.00
113727.40
123941.70
2.87%8.98%Securities (Liabilities)
$2014.10
1480.00
1882.40
1818.00
898.10
678.50
3120.10
2762.50
1042.60
300.00
532.10
2464.10
3830.10
4850.20
3111.90
5.50%-35.84%Debt (Non-current)
$5191.50
4194.80
5264.40
4797.30
6923.80
7937.00
8997.90
11025.40
10465.90
8323.20
7235.00
12382.70
9341.00
16205.20
13338.70
5.02%-17.69%Other Liabilities
$3223.30
2854.20
3790.40
4125.30
3352.90
3889.30
3865.50
3419.50
5108.30
5814.40
4177.50
4998.30
9550.10
4737.40
3616.90
9.47%-23.65%Liabilities (Total)
$93106.40
89936.80
95035.30
101497.60
108043.70
114156.50
128374.30
121704.20
125737.40
158315.60
171873.00
143777.20
138885.20
139520.20
144009.20
3.39%3.22%Treasury Stock
$225.50
314.00
422.80
704.80
1033.60
1094.40
1392.40
2173.90
3066.10
3204.50
3297.70
3246.80
3501.10
3262.30
3536.50
25.68%8.41%Retained Earnings
$6302.30
6702.70
7134.80
7625.40
8242.80
8908.40
9685.10
10776.80
11656.70
12207.70
13117.30
13798.50
14233.80
13958.30
14278.90
7.02%2.30%AOCI
$-345.60
-283.00
-244.30
-319.70
-372.70
-370.00
-414.30
-453.70
-194.70
428.00
-35.60
-1569.20
-1137.90
-1366.20
-917.60
32.84%Shareholder's Equity
$7117.30
7527.00
7912.00
8448.90
8705.90
9770.40
10216.20
10508.30
11091.00
11688.30
12016.80
11259.50
11897.90
11587.80
12101.80
4.37%4.44%Liabilities & Equity
$100223.70
97463.80
102947.30
109946.50
116749.60
123926.90
138590.50
132212.50
136828.40
170003.90
183889.80
155036.70
150783.10
151108.00
156111.00
3.46%3.31%Net Income/Loss
$603.60
687.30
731.30
811.80
973.80
1032.50
1199.00
1556.40
1492.20
1209.30
1545.30
1336.00
1107.30
334.60
214.70
5.19%-35.83%Depreciation & Amortization
$72.50
277.70
363.20
370.50
415.80
483.00
538.10
221.90
184.40
589.20
615.30
612.80
637.60
161.90
162.60
19.86%0.43%Increase/Decrease in Working Capital
$-366.80
157.00
290.00
201.50
-665.70
-214.70
-111.70
268.20
-561.20
27.90
714.20
-597.50
-755.30
653.00
1802.80
176.08%Share-based Compensation
$-100.00
-100.00
-20.70
-18.70
-21.10
-12.80
Adjustments to Reconcile Net Income
$650.70
127.10
108.00
124.20
871.50
486.30
532.80
211.10
1099.80
687.50
-189.30
1056.40
1518.30
-499.50
-1667.30
7.32%-233.79%Net Cash (Operating)
$1254.30
814.40
839.30
936.00
1834.40
1510.00
1720.40
1767.50
2592.00
1896.80
1356.00
2392.40
2625.60
-164.90
-1452.60
6.35%-780.90%Capital Expenditure
$543.70
312.50
384.90
409.50
433.50
490.30
661.30
610.20
610.30
1261.30
-382.60
1142.50
390.40
92.70
-124.10
-2.72%-233.87%Net Cash (Investing)
$-15388.40
1627.60
-5683.30
-8212.40
-6900.70
-10192.10
-14021.60
4327.10
-3405.00
-29923.00
-18602.60
25929.80
4784.10
4919.20
-4793.40
-197.44%Increase/Decrease in Debt
$16099.70
-2663.00
4545.70
7119.00
9267.60
7584.60
12074.30
-4475.80
1856.70
29474.20
17172.30
-27505.90
-7320.00
-6916.10
7679.10
211.03%Increase/Decrease in Equity
$-3.40
-55.60
-163.50
35.30
-402.90
316.20
-415.10
-891.70
-663.70
-680.30
-213.80
-31.50
-345.20
-99.30
-127.90
-28.80%Interest Expenses
$394.50
307.40
231.90
186.50
161.60
181.60
328.80
670.20
845.50
226.80
30.80
822.40
5285.50
24.14%Dividends Paid
$273.70
354.30
220.60
302.90
348.40
356.40
406.60
451.80
576.10
630.50
625.10
796.70
663.30
172.70
169.80
7.66%-1.68%Net Cash (Financing)
$15803.60
-3072.90
4388.30
7073.70
8534.10
7536.90
11252.70
-5818.20
615.90
27871.90
16073.50
-26437.40
-7182.60
-4597.70
6936.00
250.86%Cash Taxes Paid
$153.30
188.50
262.60
279.20
390.00
754.20
441.20
493.50
437.00
327.70
371.00
459.90
362.50
31.20
39.30
7.44%25.96%Effect of Exchange Rate
$-172.20
68.30
-134.60
90.90
-73.80
58.70
234.60
-212.90
74.70
84.60
-159.60
-287.40
-89.80
15.10
-172.80
-1244.37%Increase/Decrease in Cash
$1497.30
-562.60
-590.30
-111.80
3394.00
-1086.50
-813.90
63.50
-122.40
-69.70
-1332.70
1597.40
137.30
171.70
517.20
-18.05%201.22%Cash (Beginning)
$2818.00
4315.30
3752.70
3162.40
3050.60
6418.50
5332.00
4518.10
4581.60
4459.20
4389.50
3056.80
4654.20
4654.20
4791.50
4.27%2.95%Cash (Ending)
$4315.30
3752.70
3162.40
3050.60
6444.60
5332.00
4518.10
4581.60
4459.20
4389.50
3056.80
4654.20
4791.50
4825.90
5308.70
0.88%10.00%NOPAT
$-1551.47
-1550.01
-1572.66
-1634.55
-1590.49
-1111.24
-1687.84
-1779.85
-1900.14
-2419.94
-2504.76
-2298.53
-2503.43
-715.33
-716.11
-0.11%Operating Margin %
-196.74%
-198.23%
-227.87%
-213.66%
-194.73%
-175.26%
-158.67%
-145.35%
-144.83%
-229.86%
-209.79%
-165.73%
-169.95%
-149.05%
-154.32%
NOPAT Margin %
-162.61%
-160.57%
-172.23%
-163.54%
-142.89%
-88.13%
-115.83%
-108.71%
-112.27%
-183.58%
-171.07%
-122.58%
-127.89%
-138.58%
-133.45%
Net Margin %
63.26%
71.20%
80.09%
81.22%
87.49%
81.89%
82.28%
95.06%
88.17%
91.74%
105.54%
71.25%
56.57%
64.82%
40.01%
Tax Rate %
17.35%
19.00%
24.42%
23.46%
26.62%
49.71%
27.00%
25.21%
22.48%
20.13%
18.46%
26.04%
24.75%
7.03%
13.52%
ROA
-1.55%
-1.59%
-1.53%
-1.49%
-1.36%
-0.90%
-1.22%
-1.35%
-1.39%
-1.42%
-1.36%
-1.48%
-1.66%
-0.47%
-0.46%
ROE
-21.80%
-20.59%
-19.88%
-19.35%
-18.27%
-11.37%
-16.52%
-16.94%
-17.13%
-20.70%
-20.84%
-20.41%
-21.04%
-6.17%
-5.92%
Equity Multiplier
14.08
12.95
13.01
13.01
13.41
12.68
13.57
12.58
12.34
14.54
15.30
13.77
12.67
13.04
12.90
Debt/Equity Ratio
12.35
11.37
11.29
11.31
11.92
11.22
11.88
10.99
10.78
13.02
13.91
12.11
10.55
11.21
11.34
Dividend Payout Ratio %
17.64%
22.86%
14.03%
18.53%
21.91%
32.07%
24.09%
25.38%
30.32%
26.05%
24.96%
34.66%
26.50%
24.14%
23.71%
Total Payout
$277.10
409.90
384.10
267.60
751.30
40.20
821.70
1343.50
1239.80
1310.80
838.90
828.20
1008.50
272.00
297.70
11.37%9.45%Payout Ratio %
17.86%
26.45%
24.42%
16.37%
47.24%
3.62%
48.68%
75.48%
65.25%
54.17%
33.49%
36.03%
40.28%
38.02%
41.57%