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Revenue from Contracts with Customers (Tables) | 6 Months Ended
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Jun. 30, 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 |  | Six Months Ended
| June 30, |  | June 30,
(in thousands) | 2021 |  | 2020 |  | 2021 |  | 2020
Equity | $ | 171,595 |  |  | $ | 123,328 |  |  | $ | 337,953 |  |  | $ | 260,618 |
Fixed-income | 57,716 |  |  | 43,691 |  |  | 114,493 |  |  | 90,297 |
Money market | 49,286 |  |  | 157,430 |  |  | 129,978 |  |  | 308,850 |
Other 1 | 32,443 |  |  | 36,263 |  |  | 69,789 |  |  | 60,130 |
Total Revenue | $ | 311,040 |  |  | $ | 360,712 |  |  | $ | 652,213 |  |  | $ | 719,895 |
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 |  | Six Months Ended
| June 30, |  | June 30,
(in thousands) | 2021 |  | 2020 |  | 2021 |  | 2020
Asset Management 1 | $ | 214,289 |  |  | $ | 245,126 |  |  | $ | 461,978 |  |  | $ | 485,787 |
Administrative Services | 77,750 |  |  | 83,733 |  |  | 152,051 |  |  | 155,932 |
Distribution 2 | 12,191 |  |  | 25,579 |  |  | 25,219 |  |  | 64,513 |
Other 3 | 6,810 |  |  | 6,274 |  |  | 12,965 |  |  | 13,663 |
Total Revenue | $ | 311,040 |  |  | $ | 360,712 |  |  | $ | 652,213 |  |  | $ | 719,895 |
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 |  | Six Months Ended
| June 30, |  | June 30,
(in thousands) | 2021 |  | 2020 |  | 2021 |  | 2020
Domestic | $ | 224,283 |  |  | $ | 292,784 |  |  | $ | 480,773 |  |  | $ | 589,147 |
Foreign 1 | 86,757 |  |  | 67,928 |  |  | 171,440 |  |  | 130,748 |
Total Revenue | $ | 311,040 |  |  | $ | 360,712 |  |  | $ | 652,213 |  |  | $ | 719,895 |
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 |  | Six Months Ended
| June 30, |  | June 30,
(in thousands) | 2021 |  | 2020 |  | 2021 |  | 2020
Federated Hermes Funds | $ | 242,049 |  |  | $ | 299,125 |  |  | $ | 516,054 |  |  | $ | 596,009 |
Separate Accounts | 65,182 |  |  | 58,100 |  |  | 129,037 |  |  | 115,522 |
Other 1 | 3,809 |  |  | 3,487 |  |  | 7,122 |  |  | 8,364 |
Total Revenue | $ | 311,040 |  |  | $ | 360,712 |  |  | $ | 652,213 |  |  | $ | 719,895 |
1 Primarily includes stewardship services revenue.
Schedule of Remaining Unsatisfied Performance Obligations | Based on existing contracts and the exchange rates as of June 30, 2021, Federated Hermes may recognize future fixed revenue from these services as presented in the following table:
(in thousands) |  |
Remainder of 2021 |  | $ | 8,037 |
2022 |  | 5,528 |
2023 |  | 3,067 |
2024 and Thereafter |  | 1,951 |
Total Remaining Unsatisfied Performance Obligations |  | $ | 18,583 |

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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=123351226&loc=SL49130556-203045 + Details
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