Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2016

Classes of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents fair value measurements for classes of Federated’s financial assets and liabilities measured at fair value on a recurring basis:



(in thousands)	Level 1		Level 2		Level 3		NAV Practical Expedient³		Total
June 30, 2016
Financial Assets
Cash and cash equivalents	$	153,860	$	0	$	0	$	0	$	153,860
Available-for-sale equity securities	108,959		0		0		25,454		134,413
Trading securities—equity	13,443		625		0		5,548		19,616
Trading securities—debt	0		44,562		0		0		44,562
Other¹	7		0		910		0		917
Total financial assets	$	276,269	$	45,187	$	910	$	31,002	$	353,368

Total financial liabilities²	$	66	$	267	$	2,229	$	0	$	2,562

December 31, 2015³
Financial Assets
Cash and cash equivalents	$	172,628	$	0	$	0	$	0	$	172,628
Available-for-sale equity securities	117,422		0		0		24,326		141,748
Trading securities—equity	15,900		65		0		7,433		23,398
Trading securities—debt	0		9,041		0		0		9,041
Other¹	4		17		910		0		931
Total financial assets	$	305,954	$	9,123	$	910	$	31,759	$	347,746

Total financial liabilities²	$	2,681	$	59	$	2,630	$	0	$	5,370


1	Amounts include structured trade finance loans held by Federated as well as futures contracts and/or foreign currency forward contracts held within certain consolidated Federated Funds.


2	Amounts include acquisition-related future consideration liabilities and may include investments sold short, foreign currency forward contracts and/or futures contracts held within certain consolidated Federated Funds, as well as certain liabilities attributable to structured trade finance loans held by Federated.


3	Investments that calculate NAV as a practical expedient were recategorized and are no longer included within Level 2 of the valuation hierarchy as of December 31, 2015 (see Note (2) for additional information).