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Revenue from Contracts with Customers (Tables) | 3 Months Ended
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Mar. 31, 2021
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregation of Revenue | The following table presents Federated Hermes' revenue disaggregated by asset class:
| Three Months Ended |  |
| March 31, |  |
(in thousands) | 2021 |  | 2020 |  |  |  |
Equity | $ | 166,357 |  |  | $ | 137,290 |  |  |  |  |
Money Market | 80,692 |  |  | 151,420 |  |  |  |  |
Fixed-Income | 56,777 |  |  | 46,607 |  |  |  |  |
Other 1 | 37,347 |  |  | 23,866 |  |  |  |  |
Total Revenue | $ | 341,173 |  |  | $ | 359,183 |  |  |  |  |
1 Primarily includes Alternative / Private Markets (including but not limited to private equity, real estate and infrastructure), multi-asset and stewardship services revenue. The following table presents Federated Hermes' revenue disaggregated by performance obligation:
| Three Months Ended |  |
| March 31, |  |
(in thousands) | 2021 |  | 2020 |  |  |  |
Asset Management 1 | $ | 247,689 |  |  | $ | 240,660 |  |  |  |  |
Administrative Services | 74,302 |  |  | 72,199 |  |  |  |  |
Distribution 2 | 13,028 |  |  | 38,934 |  |  |  |  |
Other 3 | 6,154 |  |  | 7,390 |  |  |  |  |
Total Revenue | $ | 341,173 |  |  | $ | 359,183 |  |  |  |  |
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. A portion of this revenue relates to a performance obligation that has been satisfied in a prior period. 3 Primarily includes shareholder service fees and stewardship services revenue. The following table presents Federated Hermes' revenue disaggregated by geographical market:
| Three Months Ended |  |
| March 31, |  |
(in thousands) | 2021 |  | 2020 |  |  |  |
Domestic | $ | 256,491 |  |  | $ | 296,362 |  |  |  |  |
Foreign 1 | 84,682 |  |  | 62,821 |  |  |  |  |
Total Revenue | $ | 341,173 |  |  | $ | 359,183 |  |  |  |  |
1 This represents revenue earned by non-U.S. domiciled subsidiaries. The following table presents Federated Hermes' revenue disaggregated by product type:
| Three Months Ended |  |
| March 31, |  |
(in thousands) | 2021 |  | 2020 |  |  |  |
Federated Hermes Funds | $ | 274,005 |  |  | $ | 296,885 |  |  |  |  |
Separate Accounts | 63,855 |  |  | 57,421 |  |  |  |  |
Other 1 | 3,313 |  |  | 4,877 |  |  |  |  |
Total Revenue | $ | 341,173 |  |  | $ | 359,183 |  |  |  |  |
1 Primarily includes stewardship services revenue.
Schedule of Remaining Unsatisfied Performance Obligations | Based on existing contracts and the exchange rates as of March 31, 2021, Federated Hermes may recognize future fixed revenue from these services as presented in the following table:
(in thousands) |  |
Remainder of 2021 |  | $ | 9,092 |
2022 |  | 4,251 |
2023 |  | 2,397 |
2024 and Thereafter |  | 1,350 |
Total Remaining Unsatisfied Performance Obligations |  | $ | 17,090 |

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- Definition Tabular disclosure of expected timing for satisfying remaining performance obligation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(1) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045 + Details
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