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Equity
 6 Months Ended
Jun. 30, 2021
Equity [Abstract]  
Equity Equity
In April 2020, the board of directors authorized a share repurchase program with no stated expiration date that allows the buy back of up to 3.5 million shares of Class B common stock. This program was fulfilled in May 2021. In April 2021, the board of directors authorized a share repurchase program with no stated expiration date that allows the buy back of up to 4.0 million shares of Class B common stock. No other program existed as of June 30, 2021. The program authorizes 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 six months of 2021, Federated Hermes repurchased approximately 2.5 million shares of its Class B common stock for $76.8 million, nearly all of which were repurchased in the open market. At June 30, 2021, approximately 3.2 million shares remained available to be repurchased under this buyback program.
The following table presents the activity for the Class B common stock and Treasury stock for the three and six months ended June 30, 2021 and 2020. Class A shares have been excluded as there was no activity during these same periods.
 Three Months EndedSix Months Ended
June 30,June 30,
2021202020212020
Class B Shares
Beginning Balance98,539,367 101,065,709 99,331,443 101,130,379 
Stock Award Activity 11,750 56,750 724,674 706,331 
Purchase of Treasury Stock(993,100)(843,416)(2,498,100)(1,557,667)
Ending Balance97,558,017 100,279,043 97,558,017 100,279,043 
Treasury Shares
Beginning Balance10,966,089 8,439,747 10,174,013 8,375,077 
Stock Award Activity (11,750)(56,750)(724,674)(706,331)
Purchase of Treasury Stock993,100 843,416 2,498,100 1,557,667 
Ending Balance11,947,439 9,226,413 11,947,439 9,226,413 
Redeemable Noncontrolling Interest in Subsidiaries
The following table presents the changes in Redeemable Noncontrolling Interest in Subsidiaries:
(in thousands)Consolidated Investment CompaniesHFML and other entitiesTotal
Balance at December 31, 2020$24,246 $212,741 $236,987 
Net Income (Loss)(1,091)953 (138)
Other Comprehensive Income (Loss), net of tax0 1,430 1,430 
Subscriptions—Redeemable Noncontrolling Interest Holders25,762 0 25,762 
Consolidation/(Deconsolidation)(25,419)9,182 (16,237)
Stock Award Activity0 2,481 2,481 
Distributions to Noncontrolling Interest in Subsidiaries(1,320)(578)(1,898)
Change in Estimated Redemption Value of Redeemable Noncontrolling Interests0 (2,670)(2,670)
Balance at March 31, 2021$22,178 $223,539 $245,717 
Net Income (Loss)682 (3,087)(2,405)
Other Comprehensive Income (Loss), net of tax0 868 868 
Subscriptions—Redeemable Noncontrolling Interest Holders899,250 712 899,962 
Consolidation/(Deconsolidation)(894,175)0 (894,175)
Stock Award Activity0 2,518 2,518 
Distributions to Noncontrolling Interest in Subsidiaries(622)(394)(1,016)
Balance at June 30, 2021$27,313 $224,156 $251,469 
(in thousands)Consolidated Investment CompaniesHFML and other entitiesTotal
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 tax0 (11,454)(11,454)
Subscriptions—Redeemable Noncontrolling Interest Holders5,577 0 5,577 
Consolidation/(Deconsolidation)(4,019)0 (4,019)
Stock Award Activity0 2,153 2,153 
Distributions to Noncontrolling Interest in Subsidiaries(6,039)0 (6,039)
Change in Estimated Redemption Value of Redeemable Noncontrolling Interests0 1,870 1,870 
Balance at March 31, 2020$12,589 $186,672 $199,261 
Net Income (Loss)2,560 1,045 3,605 
Other Comprehensive Income (Loss), net of tax0 (435)(435)
Subscriptions—Redeemable Noncontrolling Interest Holders6,225 0 6,225 
Stock Award Activity0 2,087 2,087 
Distributions to Noncontrolling Interest in Subsidiaries(4,058)0 (4,058)
Change in Estimated Redemption Value of Redeemable Noncontrolling Interests0 (2,013)(2,013)
Balance at June 30, 2020$17,316 $187,356 $204,672 
The activity in 2021 includes $892.1 million of contributions from noncontrolling interests in subsidiaries as a result of a purchase-in-kind investment into a previously consolidated VRE. This was a noncash transaction and was therefore excluded from the Consolidated Statements of Cash Flows.