filings.toolsItem 6. SELECTED FINANCIAL DATA
7K characters. Original on sec.gov · Markdown
Item 6. SELECTED FINANCIAL DATA
| 2019 | 2018 | 2017 | 2016 | 2015 | |||||||||||
| FOR THE YEAR ENDED DECEMBER 31, | |||||||||||||||
| CONDENSED STATEMENTS OF INCOME (In Millions) | |||||||||||||||
| Noninterest Income | $ | 4,395.2 | $ | 4,337.5 | $ | 3,946.1 | $ | 3,726.9 | $ | 3,632.5 | |||||
| Net Interest Income | 1,677.9 | 1,622.7 | 1,429.2 | 1,234.9 | 1,070.1 | ||||||||||
| Total Revenue | $ | 6,073.1 | $ | 5,960.2 | $ | 5,375.3 | $ | 4,961.8 | $ | 4,702.6 | |||||
| Provision for Credit Losses | (14.5 | ) | (14.5 | ) | (28.0 | ) | (26.0 | ) | (43.0 | ) | |||||
| Noninterest Expense | 4,143.5 | 4,016.9 | 3,769.4 | 3,470.7 | 3,280.6 | ||||||||||
| Income before Income Taxes | $ | 1,944.1 | $ | 1,957.8 | $ | 1,633.9 | $ | 1,517.1 | $ | 1,465.0 | |||||
| Provision for Income Taxes | 451.9 | 401.4 | 434.9 | 484.6 | 491.2 | ||||||||||
| Net Income | $ | 1,492.2 | $ | 1,556.4 | $ | 1,199.0 | $ | 1,032.5 | $ | 973.8 | |||||
| Preferred Stock Dividends | 46.4 | 46.4 | 49.8 | 23.4 | 23.4 | ||||||||||
| Net Income Applicable to Common Stock | $ | 1,445.8 | $ | 1,510.0 | $ | 1,149.2 | $ | 1,009.1 | $ | 950.4 | |||||
| PER COMMON SHARE | |||||||||||||||
| Net Income – Basic | $ | 6.66 | $ | 6.68 | $ | 4.95 | $ | 4.35 | $ | 4.03 | |||||
| – Diluted | 6.63 | 6.64 | 4.92 | 4.32 | 3.99 | ||||||||||
| Cash Dividends Declared Per Common Share | 2.60 | 1.94 | 1.60 | 1.48 | 1.41 | ||||||||||
| Book Value – End of Period (EOP) | 46.82 | 43.95 | 41.28 | 38.88 | 36.27 | ||||||||||
| Market Price – EOP | 106.24 | 83.59 | 99.89 | 89.05 | 72.09 | ||||||||||
| SELECTED BALANCE SHEET DATA (In Millions) | |||||||||||||||
| At Year End: | |||||||||||||||
| Earning Assets | $ | 125,236.6 | $ | 122,847.3 | $ | 129,656.6 | $ | 115,446.4 | $ | 106,848.9 | |||||
| Total Assets | 136,828.4 | 132,212.5 | 138,590.5 | 123,926.9 | 116,749.6 | ||||||||||
| Deposits | 109,120.6 | 104,496.8 | 112,390.8 | 101,651.7 | 96,868.9 | ||||||||||
| Senior Notes | 2,573.0 | 2,011.3 | 1,497.3 | 1,496.6 | 1,497.4 | ||||||||||
| Long-Term Debt | 1,148.1 | 1,112.4 | 1,449.5 | 1,330.9 | 1,371.3 | ||||||||||
| Stockholders’ Equity | 11,091.0 | 10,508.3 | 10,216.2 | 9,770.4 | 8,705.9 | ||||||||||
| Average Balances: | |||||||||||||||
| Earning Assets | $ | 107,109.4 | $ | 113,731.0 | $ | 111,178.3 | $ | 107,037.6 | $ | 102,249.8 | |||||
| Total Assets | 117,551.4 | 122,946.6 | 119,607.4 | 115,570.3 | 110,715.1 | ||||||||||
| Deposits | 89,786.0 | 95,103.1 | 96,504.8 | 93,613.9 | 90,768.0 | ||||||||||
| Senior Notes | 2,389.1 | 1,704.0 | 1,496.9 | 1,496.6 | 1,497.2 | ||||||||||
| Long-Term Debt | 1,139.0 | 1,296.8 | 1,519.4 | 1,392.4 | 1,426.4 | ||||||||||
| Stockholders’ Equity | 10,648.4 | 10,228.9 | 9,980.6 | 9,085.3 | 8,624.5 | ||||||||||
| CLIENT ASSETS (In Billions) | |||||||||||||||
| Assets Under Custody/Administration | $ | 12,050.4 | $ | 10,125.3 | $ | 10,722.6 | $ | 8,541.3 | $ | 7,797.0 | |||||
| Assets Under Custody | 9,233.5 | 7,593.9 | 8,084.6 | 6,720.5 | 6,072.1 | ||||||||||
| Assets Under Management | 1,231.3 | 1,069.4 | 1,161.0 | 942.4 | 875.3 | ||||||||||
| SELECTED RATIOS AND METRICS | |||||||||||||||
| Financial Ratios and Metrics: | |||||||||||||||
| Return on Average Common Equity | 14.9 | % | 16.2 | % | 12.6 | % | 11.9 | % | 11.5 | % | |||||
| Return on Average Assets | 1.27 | 1.27 | 1.00 | 0.89 | 0.88 | ||||||||||
| Dividend Payout Ratio | 39.2 | 29.2 | 32.5 | 34.3 | 35.3 | ||||||||||
| Net Interest Margin (1) | 1.60 | 1.46 | 1.33 | 1.18 | 1.07 | ||||||||||
| Average Stockholders’ Equity to Average Assets | 9.1 | 8.3 | 8.3 | 7.9 | 7.8 |
| Capital Ratios: | DECEMBER 31, 2019 | DECEMBER 31, 2018 | DECEMBER 31, 2017 | |||||||||
| STANDARDIZED APPROACH | ADVANCED APPROACH | STANDARDIZED APPROACH | ADVANCED APPROACH | STANDARDIZED APPROACH | ADVANCED APPROACH | |||||||
| Common Equity Tier 1 Capital | 12.7 | % | 13.2 | % | 12.9 | % | 13.7 | % | 12.6 | % | 13.5 | % |
| Tier 1 Capital | 14.5 | 15.0 | 14.1 | 15.0 | 13.8 | 14.8 | ||||||
| Total Capital | 16.3 | 16.8 | 16.1 | 16.9 | 15.8 | 16.7 | ||||||
| Tier 1 Leverage | 8.7 | 8.7 | 8.0 | 8.0 | 7.8 | 7.8 | ||||||
| Supplementary Leverage(2) | N/A | 7.6 | N/A | 7.0 | N/A | 6.8 | ||||||
| DECEMBER 31, 2016 | DECEMBER 31, 2015 | |||||||||||
| STANDARDIZED APPROACH | ADVANCED APPROACH | STANDARDIZED APPROACH | ADVANCED APPROACH | WELL-CAPITALIZED RATIOS | MINIMUM CAPITAL RATIOS | |||||||
| Common Equity Tier 1 Capital | 11.8 | % | 12.4 | % | 10.8 | % | 11.9 | % | N/A | 4.5 | % | |
| Tier 1 Capital | 12.9 | 13.7 | 11.4 | 12.5 | 6.0 | 6.0 | ||||||
| Total Capital | 14.5 | 15.1 | 13.2 | 14.2 | 10.0 | 8.0 | ||||||
| Tier 1 Leverage | 8.0 | 8.0 | 7.5 | 7.5 | N/A | 4.0 | ||||||
| Supplementary Leverage(2) | N/A | 6.8 | N/A | 6.2 | N/A | 3.0 |
(1) Net interest margin is presented on a fully taxable equivalent (FTE) basis, a non-GAAP financial measure that facilitates the analysis of asset yields. The net interest margin on a GAAP basis and a reconciliation of net interest income on a GAAP basis to net interest income on an FTE basis are presented on page 89*.*
(2) Effective January 1, 2018, the Corporation and Bank are subject to a minimum supplementary leverage ratio of 3 percent.
| 2019 Annual Report | Northern Trust Corporation 31 |
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Previous: Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES · Next: Item 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS