filings.toolsItem 6. SELECTED FINANCIAL DATA
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Item 6. SELECTED FINANCIAL DATA
| FOR THE YEAR ENDED DECEMBER 31, | 2020 | 2019 | 2018 | 2017 | 2016 | ||||||||||||
| CONDENSED STATEMENTS OF INCOME ($ In Millions) | |||||||||||||||||
| Noninterest Income | $ | 4,657.6 | $ | 4,395.2 | $ | 4,337.5 | $ | 3,946.1 | $ | 3,726.9 | |||||||
| Net Interest Income | 1,443.2 | 1,677.9 | 1,622.7 | 1,429.2 | 1,234.9 | ||||||||||||
| Total Revenue | $ | 6,100.8 | $ | 6,073.1 | $ | 5,960.2 | $ | 5,375.3 | $ | 4,961.8 | |||||||
| Provision for Credit Losses | 125.0 | (14.5) | (14.5) | (28.0) | (26.0) | ||||||||||||
| Noninterest Expense | 4,348.2 | 4,143.5 | 4,016.9 | 3,769.4 | 3,470.7 | ||||||||||||
| Income before Income Taxes | $ | 1,627.6 | $ | 1,944.1 | $ | 1,957.8 | $ | 1,633.9 | $ | 1,517.1 | |||||||
| Provision for Income Taxes | 418.3 | 451.9 | 401.4 | 434.9 | 484.6 | ||||||||||||
| Net Income | $ | 1,209.3 | $ | 1,492.2 | $ | 1,556.4 | $ | 1,199.0 | $ | 1,032.5 | |||||||
| Preferred Stock Dividends | 56.2 | 46.4 | 46.4 | 49.8 | 23.4 | ||||||||||||
| Net Income Applicable to Common Stock | $ | 1,153.1 | $ | 1,445.8 | $ | 1,510.0 | $ | 1,149.2 | $ | 1,009.1 | |||||||
| PER COMMON SHARE | |||||||||||||||||
| Net Income – Basic | $ | 5.48 | $ | 6.66 | $ | 6.68 | $ | 4.95 | $ | 4.35 | |||||||
| – Diluted | 5.46 | 6.63 | 6.64 | 4.92 | 4.32 | ||||||||||||
| Cash Dividends Declared Per Common Share | 2.80 | 2.60 | 1.94 | 1.60 | 1.48 | ||||||||||||
| Book Value – End of Period (EOP) | 51.87 | 46.82 | 43.95 | 41.28 | 38.88 | ||||||||||||
| Market Price – EOP | 93.14 | 106.24 | 83.59 | 99.89 | 89.05 | ||||||||||||
| SELECTED BALANCE SHEET DATA ($ In Millions) | |||||||||||||||||
| At Year End: | |||||||||||||||||
| Earning Assets | $ | 158,531.6 | $ | 125,236.6 | $ | 122,847.3 | $ | 129,656.6 | $ | 115,446.4 | |||||||
| Total Assets | 170,003.9 | 136,828.4 | 132,212.5 | 138,590.5 | 123,926.9 | ||||||||||||
| Deposits | 143,878.0 | 109,120.6 | 104,496.8 | 112,390.8 | 101,651.7 | ||||||||||||
| Senior Notes | 3,122.4 | 2,573.0 | 2,011.3 | 1,497.3 | 1,496.6 | ||||||||||||
| Long-Term Debt | 1,189.3 | 1,148.1 | 1,112.4 | 1,449.5 | 1,330.9 | ||||||||||||
| Stockholders’ Equity | 11,688.3 | 11,091.0 | 10,508.3 | 10,216.2 | 9,770.4 | ||||||||||||
| Average Balances: | |||||||||||||||||
| Earning Assets | $ | 124,132.9 | $ | 107,109.4 | $ | 113,731.0 | $ | 111,178.3 | $ | 107,037.6 | |||||||
| Total Assets | 136,811.1 | 117,551.4 | 122,946.6 | 119,607.4 | 115,570.3 | ||||||||||||
| Deposits | 108,511.1 | 89,786.0 | 95,103.1 | 96,504.8 | 93,613.9 | ||||||||||||
| Senior Notes | 3,233.8 | 2,389.1 | 1,704.0 | 1,496.9 | 1,496.6 | ||||||||||||
| Long-Term Debt | 1,189.2 | 1,139.0 | 1,296.8 | 1,519.4 | 1,392.4 | ||||||||||||
| Stockholders’ Equity | 11,192.6 | 10,648.4 | 10,228.9 | 9,980.6 | 9,085.3 | ||||||||||||
| CLIENT ASSETS ($ In Billions) | |||||||||||||||||
| Assets Under Custody/Administration(1) | $ | 14,532.5 | $ | 12,050.4 | $ | 10,125.3 | $ | 10,722.6 | $ | 8,541.3 | |||||||
| Assets Under Custody | 11,262.8 | 9,233.5 | 7,593.9 | 8,084.6 | 6,720.5 | ||||||||||||
| Assets Under Management | 1,405.3 | 1,231.3 | 1,069.4 | 1,161.0 | 942.4 | ||||||||||||
| SELECTED RATIOS AND METRICS | |||||||||||||||||
| Financial Ratios and Metrics: | |||||||||||||||||
| Return on Average Common Equity | 11.2 | % | 14.9 | % | 16.2 | % | 12.6 | % | 11.9 | % | |||||||
| Return on Average Assets | 0.88 | 1.27 | 1.27 | 1.00 | 0.89 | ||||||||||||
| Dividend Payout Ratio | 51.3 | 39.2 | 29.2 | 32.5 | 34.3 | ||||||||||||
| Average Stockholders’ Equity to Average Assets | 8.2 | 9.1 | 8.3 | 8.3 | 7.9 |
| Capital Ratios: | DECEMBER 31, 2020 | DECEMBER 31, 2019 | DECEMBER 31, 2018 | |||||||||||||||||
| STANDARDIZED APPROACH | ADVANCED APPROACH | STANDARDIZED APPROACH | ADVANCED APPROACH | STANDARDIZED APPROACH | ADVANCED APPROACH | |||||||||||||||
| Common Equity Tier 1 Capital | 12.8 | % | 13.4 | % | 12.7 | % | 13.2 | % | 12.9 | % | 13.7 | % | ||||||||
| Tier 1 Capital | 13.9 | 14.5 | 14.5 | 15.0 | 14.1 | 15.0 | ||||||||||||||
| Total Capital | 15.6 | 15.9 | 16.3 | 16.8 | 16.1 | 16.9 | ||||||||||||||
| Tier 1 Leverage | 7.6 | 7.6 | 8.7 | 8.7 | 8.0 | 8.0 | ||||||||||||||
| Supplementary Leverage(2) | N/A | 8.6 | N/A | 7.6 | N/A | 7.0 | ||||||||||||||
| DECEMBER 31, 2017 | DECEMBER 31, 2016 | |||||||||||||||||||
| STANDARDIZED APPROACH | ADVANCED APPROACH | STANDARDIZED APPROACH | ADVANCED APPROACH | WELL-CAPITALIZED RATIOS | MINIMUM CAPITAL RATIOS | |||||||||||||||
| Common Equity Tier 1 Capital | 12.6 | % | 13.5 | % | 11.8 | % | 12.4 | % | N/A | 4.5 | % | |||||||||
| Tier 1 Capital | 13.8 | 14.8 | 12.9 | 13.7 | 6.0 | 6.0 | ||||||||||||||
| Total Capital | 15.8 | 16.7 | 14.5 | 15.1 | 10.0 | 8.0 | ||||||||||||||
| Tier 1 Leverage | 7.8 | 7.8 | 8.0 | 8.0 | N/A | 4.0 | ||||||||||||||
| Supplementary Leverage(2) | N/A | 6.8 | N/A | 6.8 | N/A | 3.0 |
*(1)*For the purposes of disclosing Assets Under Custody/Administration, to the extent that both custody and administration services are provided, the value of the assets is included only once.
(2) Effective January 1, 2018, the Corporation and Bank are subject to a minimum supplementary leverage ratio of 3 percent. Refer to the “Supervision and Regulation—Capital Adequacy Requirements” section of Item 1, “Business” for further information on the supplementary leverage ratio.
| 30 2020 Annual Report | Northern Trust Corporation |
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