XML 27 R16.htm IDEA: XBRL DOCUMENT v3.21.2
Derivatives
6 Months Ended
Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives Derivatives
Hermes Fund Managers Limited (HFML), a British Pound Sterling-denominated majority-owned subsidiary of Federated Hermes, enters into foreign currency forward transactions in order to hedge against foreign exchange rate fluctuations in the U.S. Dollar. None of the forwards have been designated as hedging instruments for accounting purposes. As of June 30, 2021, this subsidiary held foreign currency forward derivative instruments with a combined notional amount of £61.6 million and expiration dates ranging from September 2021 through March 2022. Federated Hermes recorded $2.0 million in Receivables on the Consolidated Balance Sheets, which represented the fair value of these derivative instruments as of June 30, 2021.
As of December 31, 2020, HFML held foreign currency forward derivative instruments with a combined notional amount of £47.3 million and expiration dates ranging from March 2021 through September 2021. Federated Hermes recorded $5.1 million in Receivables on the Consolidated Balance Sheets, which represented the fair value of these derivative instruments as of December 31, 2020.