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Revenue from Contracts with Customers (Tables) | 6 Months Ended
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Jun. 30, 2019
Revenue from Contract with Customer [Abstract] |
Disaggregation of Revenue | The following table presents Federated's revenue disaggregated by asset class:
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
(in thousands) | 2019 |  | 2018 |  | 2019 |  | 2018
Equity | $ | 134,035 |  |  | $ | 102,089 |  |  | $ | 257,669 |  |  | $ | 205,698 |
Money Market | 123,136 |  |  | 98,923 |  |  | 240,443 |  |  | 203,406 |
Fixed-Income | 44,782 |  |  | 44,497 |  |  | 88,459 |  |  | 89,545 |
Other 1 | 19,526 |  |  | 10,484 |  |  | 41,958 |  |  | 21,196 |
Total Revenue | $ | 321,479 |  |  | $ | 255,993 |  |  | $ | 628,529 |  |  | $ | 519,845 |
1 | Includes Alternative / Private Markets (including but not limited to private equity, real estate and infrastructure), Multi-Asset and, beginning in the third quarter of 2018, stewardship services revenue.
The following table presents Federated's revenue disaggregated by performance obligation:
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
(in thousands) | 2019 |  | 2018 |  | 2019 |  | 2018
Asset Management 1 | $ | 220,669 |  |  | $ | 168,127 |  |  | $ | 431,868 |  |  | $ | 342,393 |
Administrative Services | 57,968 |  |  | 48,370 |  |  | 112,103 |  |  | 97,393 |
Distribution 2 | 37,196 |  |  | 36,923 |  |  | 73,442 |  |  | 74,980 |
Other 3 | 5,646 |  |  | 2,573 |  |  | 11,116 |  |  | 5,079 |
Total Revenue | $ | 321,479 |  |  | $ | 255,993 |  |  | $ | 628,529 |  |  | $ | 519,845 |
1 | The performance obligation may include administrative, distribution and other services recorded as a single asset management fee under Topic 606, as it is part of a unitary fee arrangement with a single performance obligation.
2 | The performance obligation is satisfied at a point in time and may include contingent deferred sales charges and upfront commissions. A portion of this revenue relates to a performance obligation that has been satisfied in a prior period.
3 | Includes shareholder service fees and, beginning in the third quarter of 2018, stewardship services revenue.
The following table presents Federated's revenue disaggregated by geographical market:
|  | Three Months Ended |  | Six Months Ended
|  | June 30, |  | June 30,
(in thousands) |  | 2019 |  | 2018 |  | 2019 |  | 2018
Domestic |  | $ | 265,893 |  |  | $ | 248,872 |  |  | $ | 518,283 |  |  | $ | 504,964 |
Foreign 1 |  | 55,586 |  |  | 7,121 |  |  | 110,246 |  |  | 14,881 |
Total Revenue |  | $ | 321,479 |  |  | $ | 255,993 |  |  | $ | 628,529 |  |  | $ | 519,845 |
1 | This represents revenue earned by non-U.S. domiciled subsidiaries.
The following table presents Federated's revenue disaggregated by product type:
|  | Three Months Ended |  | Six Months Ended
|  | June 30, |  | June 30,
(in thousands) |  | 2019 |  | 2018 |  | 2019 |  | 2018
Federated Funds |  | $ | 264,174 |  |  | $ | 218,396 |  |  | $ | 512,527 |  |  | $ | 443,213 |
Separate Accounts |  | 54,368 |  |  | 37,597 |  |  | 109,959 |  |  | 76,632 |
Other 1 |  | 2,937 |  |  | 0 |  |  | 6,043 |  |  | 0 |
Total Revenue |  | $ | 321,479 |  |  | $ | 255,993 |  |  | $ | 628,529 |  |  | $ | 519,845 |
1 | Includes stewardship services revenue.
Future Fixed Revenue from Stewardship Services | Based on existing contracts and the exchange rates as of June 30, 2019, Federated may recognize future fixed revenue from stewardship services as presented in the following table:
(in thousands) |  |
Remainder of 2019 |  | $ | 5,031 |
2020 |  | 4,032 |
2021 |  | 1,989 |
2022 and Thereafter |  | 749 |
Total Remaining Unsatisfied Performance Obligations |  | $ | 11,801 |

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