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Redeemable Noncontrolling Interest in Subsidiaries | 3 Months Ended
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Mar. 31, 2020
Noncontrolling Interest [Abstract] |
Redeemable Noncontrolling Interest in Subsidiaries | Equity In October 2016, the board of directors authorized a share repurchase program with no stated expiration date that allows the buy back of up to 4 million shares of Class B common stock. This program was fulfilled in March 2020. In March 2020, the board of directors authorized a share repurchase program with no stated expiration date that allows the buy back of up to 500 thousand shares of Class B common stock. No other programs existed as of March 31, 2020. The programs authorize executive management to determine the timing and the amount of shares for each purchase. The repurchased stock is to be held in treasury for employee share-based compensation plans, potential acquisitions and other corporate activities, unless Federated Hermes' board of directors subsequently determines to retire the repurchased stock and restore the shares to authorized but unissued status (rather than holding the shares in treasury). During the first three months of 2020, Federated Hermes repurchased approximately 714 thousand shares of its Class B common stock for $16.0 million ($1.0 million of which was accrued in Other Current Liabilities as of March 31, 2020), most of which were repurchased in the open market. At March 31, 2020, approximately 347 thousand shares remain available to be purchased under Federated Hermes' remaining buyback program. See Note (19) for information regarding a new share repurchase program approved by the board of directors on April 30, 2020. The following table presents the activity for the Class B common stock and Treasury stock for the three months ended March 31, 2020 and 2019. Class A shares have been excluded as there was no activity during the three months ended March 31, 2020 or 2019.
|  | Three Months Ended
|  | March 31,
|  | 2020 |  |  | 2019 |
Class B Shares |  |  |  |
Beginning Balance |  | 101,130,379 |  |  | 100,803,382 |
Stock Award Activity |  | 649,581 |  |  | 498,324 |
Purchase of Treasury Stock |  | (714,251 | ) |  | (60,833 | )
Ending Balance |  | 101,065,709 |  |  | 101,240,873 |
Treasury Shares |  |  |  |
Beginning Balance |  | 8,375,077 |  |  | 8,702,074 |
Stock Award Activity |  | (649,581 | ) |  | (498,324 | )
Purchase of Treasury Stock |  | 714,251 |  |  | 60,833 |
Ending Balance |  | 8,439,747 |  |  | 8,264,583 |
Redeemable Noncontrolling Interest in Subsidiaries The following table presents the changes in Redeemable Noncontrolling Interest in Subsidiaries:
(in thousands) |  | Consolidated Investment Companies |  |  | Hermes |  |  | Total |
Balance at December 31, 2019 |  | $ | 19,872 |  |  | $ | 192,214 |  |  | $ | 212,086 |
Net Income (Loss) |  | (2,802 | ) |  | 1,889 |  |  | (913 | )
Other Comprehensive Income (Loss), net of tax |  | 0 |  |  | (11,454 | ) |  | (11,454 | )
Subscriptions—Redeemable Noncontrolling Interest Holders |  | 5,577 |  |  | 0 |  |  | 5,577 |
Consolidation/(Deconsolidation) |  | (4,019 | ) |  | 0 |  |  | (4,019 | )
Stock Award Activity |  | 0 |  |  | 2,153 |  |  | 2,153 |
Distributions to Noncontrolling Interest in Subsidiaries |  | (6,039 | ) |  | 0 |  |  | (6,039 | )
Change in Estimated Redemption Value of Redeemable Noncontrolling Interests |  | 0 |  |  | 1,870 |  |  | 1,870 |
Balance at March 31, 2020 |  | $ | 12,589 |  |  | $ | 186,672 |  |  | $ | 199,261 |
Balance at December 31, 2018 |  | $ | 11,626 |  |  | $ | 170,887 |  |  | $ | 182,513 |
Net Income (Loss) |  | 678 |  |  | (613 | ) |  | 65 |
Other Comprehensive Income (Loss), net of tax |  | 0 |  | 3,714 |  |  | 3,714 |
Subscriptions—Redeemable Noncontrolling Interest Holders |  | 42 |  |  | 0 |  |  | 42 |
Stock Award Activity |  | 0 |  | 2,126 |  |  | 2,126 |
Distributions to Noncontrolling Interest in Subsidiaries |  | (2,260 | ) |  | 0 |  | (2,260 | )
Balance at March 31, 2019 |  | $ | 10,086 |  |  | $ | 176,114 |  |  | $ | 186,200 |
During 2020, the Hermes Redeemable Noncontrolling Interest in Subsidiaries carrying value was adjusted by $1.9 million to the current redemption value, assuming the Hermes noncontrolling interest was redeemable at the balance sheet date. The noncontrolling interest was adjusted through a corresponding adjustment to retained earnings.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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