Exhibit 12.1
Northern Trust Corporation
Ratio of Earnings to Fixed Charges
(Dollars in Millions)
Six Months Ended 6/30/2017 | ||||||||||||||||||||||||
Fiscal Year Ended December 31, | ||||||||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||||||
EXCLUDING INTEREST ON DEPOSITS: | ||||||||||||||||||||||||
Fixed Charges | ||||||||||||||||||||||||
Interest Expense (Excluding Interest on Deposits) | $ | 63.9 | $ | 98.5 | $ | 79.6 | $ | 99.7 | $ | 119.0 | $ | 140.7 | ||||||||||||
Estimated Interest Component of Rental Expense | 15.2 | 28.4 | 27.4 | 29.1 | 27.7 | 30.4 | ||||||||||||||||||
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Total Fixed Charges | $ | 79.1 | $ | 126.9 | $ | 107.0 | $ | 128.8 | $ | 146.7 | $ | 171.1 | ||||||||||||
Income: | ||||||||||||||||||||||||
Income Before Income Taxes | $ | 781.7 | $ | 1,517.1 | $ | 1,465.0 | $ | 1,190.2 | $ | 1,075.5 | $ | 992.3 | ||||||||||||
Fixed Charges | 79.1 | 126.9 | 107.0 | 128.8 | 146.7 | 171.1 | ||||||||||||||||||
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Earnings, as Defined | $ | 860.8 | $ | 1,644.0 | $ | 1,572.0 | $ | 1,319.0 | $ | 1,222.2 | $ | 1,163.4 | ||||||||||||
Ratio of Earnings to Fixed Charges | 10.89 | 12.95 | 14.69 | 10.24 | 8.33 | 6.80 | ||||||||||||||||||
INCLUDING INTEREST ON DEPOSITS: | ||||||||||||||||||||||||
Fixed Charges | ||||||||||||||||||||||||
Interest Expense (Including Interest on Deposits) | $ | 132.5 | $ | 182.0 | $ | 153.9 | $ | 181.4 | $ | 222.4 | $ | 297.4 | ||||||||||||
Estimated Interest Component of Rental Expense | 15.2 | 28.4 | 27.4 | 29.1 | 27.7 | 30.4 | ||||||||||||||||||
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Total Fixed Charges | $ | 147.7 | $ | 210.4 | $ | 181.3 | $ | 210.5 | $ | 250.1 | $ | 327.8 | ||||||||||||
Income: | ||||||||||||||||||||||||
Income Before Income Taxes | $ | 781.7 | $ | 1,517.1 | $ | 1,465.0 | $ | 1,190.2 | $ | 1,075.5 | $ | 992.3 | ||||||||||||
Fixed Charges | 147.7 | 210.4 | 181.3 | 210.5 | 250.1 | 327.8 | ||||||||||||||||||
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Earnings, as Defined | $ | 929.4 | $ | 1,727.5 | $ | 1,646.3 | $ | 1,400.7 | $ | 1,325.6 | $ | 1,320.1 | ||||||||||||
Ratio of Earnings to Fixed Charges | 6.29 | 8.21 | 9.08 | 6.65 | 5.30 | 4.03 |
Northern Trust Corporation
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
(Dollars in Millions)
Six Months Ended | ||||||||||||||||||||||||
Fiscal Year Ended December 31, | ||||||||||||||||||||||||
6/30/2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||||||
EXCLUDING INTEREST ON DEPOSITS: | ||||||||||||||||||||||||
Fixed Charges | ||||||||||||||||||||||||
Interest Expense (Excluding Interest on Deposits) | $ | 63.9 | $ | 98.5 | $ | 79.6 | $ | 99.7 | $ | 119.0 | $ | 140.7 | ||||||||||||
Estimated Interest Component of Rental Expense | 15.2 | 28.4 | 27.4 | 29.1 | 27.7 | 30.4 | ||||||||||||||||||
Pre-Tax Earnings Required for Preferred Dividends | 42.7 | 37.6 | 37.6 | 15.2 | — | — | ||||||||||||||||||
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Total Fixed Charges and Preferred Stock Dividend Requirements | $ | 121.8 | $ | 164.5 | $ | 144.6 | $ | 144.0 | $ | 146.7 | $ | 171.1 | ||||||||||||
Income: | ||||||||||||||||||||||||
Income Before Income Taxes | $ | 781.7 | $ | 1,517.1 | $ | 1,465.0 | $ | 1,190.2 | $ | 1,075.5 | $ | 992.3 | ||||||||||||
Fixed Charges and Preferred Stock Dividend Requirements | 121.8 | 164.5 | 144.6 | 144.0 | 146.7 | 171.1 | ||||||||||||||||||
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Earnings, as Defined | $ | 903.5 | $ | 1,681.6 | $ | 1,609.6 | $ | 1,334.2 | $ | 1,222.2 | $ | 1,163.4 | ||||||||||||
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends | 7.42 | 10.22 | 11.13 | 9.26 | 8.33 | 6.80 | ||||||||||||||||||
INCLUDING INTEREST ON DEPOSITS: | ||||||||||||||||||||||||
Fixed Charges | ||||||||||||||||||||||||
Interest Expense (Including Interest on Deposits) | $ | 132.5 | $ | 182.0 | $ | 153.9 | $ | 181.4 | $ | 222.4 | $ | 297.4 | ||||||||||||
Estimated Interest Component of Rental Expense | 15.2 | 28.4 | 27.4 | 29.1 | 27.7 | 30.4 | ||||||||||||||||||
Pre-Tax Earnings Required for Preferred Dividends | 42.7 | 37.6 | 37.6 | 15.2 | — | — | ||||||||||||||||||
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Total Fixed Charges and Preferred Stock Dividend Requirements | $ | 190.4 | $ | 248.0 | $ | 218.9 | $ | 225.7 | $ | 250.1 | $ | 327.8 | ||||||||||||
Income: | ||||||||||||||||||||||||
Income Before Income Taxes | $ | 781.7 | $ | 1,517.1 | $ | 1,465.0 | $ | 1,190.2 | $ | 1,075.5 | $ | 992.3 | ||||||||||||
Fixed Charges and Preferred Stock Dividend Requirements | 190.4 | 248.0 | 218.9 | 225.7 | 250.1 | 327.8 | ||||||||||||||||||
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Earnings, as Defined | $ | 972.1 | $ | 1,765.1 | $ | 1,683.9 | $ | 1,415.9 | $ | 1,325.6 | $ | 1,320.1 | ||||||||||||
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends | 5.11 | 7.12 | 7.69 | 6.27 | 5.30 | 4.03 |