XML 40 R29.htm IDEA: XBRL DOCUMENT v3.21.2

Revenue from Contracts with Customers (Tables)

6 Months Ended

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
Other1			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 Management1			$	214,289					$	245,126					$	461,978					$	485,787
Administrative Services			77,750						83,733						152,051						155,932
Distribution2			12,191						25,579						25,219						64,513
Other3			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
Foreign1			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
Other1			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

X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045

+ Details

Name:	us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration