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Revenue from Contracts with Customers (Tables) | 9 Months Ended
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Sep. 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 |  | Nine Months Ended
| September 30, |  | September 30,
(in thousands) | 2021 |  | 2020 |  | 2021 |  | 2020
Equity | $ | 172,349 |  |  | $ | 138,590 |  |  | $ | 510,302 |  |  | $ | 399,208 |
Fixed-income | 60,622 |  |  | 49,407 |  |  | 175,115 |  |  | 139,705 |
Money market | 55,726 |  |  | 143,391 |  |  | 185,704 |  |  | 452,240 |
Other 1 | 37,892 |  |  | 33,067 |  |  | 107,681 |  |  | 93,197 |
Total Revenue | $ | 326,589 |  |  | $ | 364,455 |  |  | $ | 978,802 |  |  | $ | 1,084,350 |
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 |  | Nine Months Ended
| September 30, |  | September 30,
(in thousands) | 2021 |  | 2020 |  | 2021 |  | 2020
Asset Management 1 | $ | 230,210 |  |  | $ | 260,089 |  |  | $ | 692,188 |  |  | $ | 745,875 |
Administrative Services | 76,853 |  |  | 83,028 |  |  | 228,904 |  |  | 238,960 |
Distribution 2 | 12,460 |  |  | 15,273 |  |  | 37,679 |  |  | 79,786 |
Other 3 | 7,066 |  |  | 6,065 |  |  | 20,031 |  |  | 19,729 |
Total Revenue | $ | 326,589 |  |  | $ | 364,455 |  |  | $ | 978,802 |  |  | $ | 1,084,350 |
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 |  | Nine Months Ended
| September 30, |  | September 30,
(in thousands) | 2021 |  | 2020 |  | 2021 |  | 2020
Domestic | $ | 237,543 |  |  | $ | 295,422 |  |  | $ | 718,316 |  |  | $ | 884,569 |
Foreign 1 | 89,046 |  |  | 69,033 |  |  | 260,486 |  |  | 199,781 |
Total Revenue | $ | 326,589 |  |  | $ | 364,455 |  |  | $ | 978,802 |  |  | $ | 1,084,350 |
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 |  | Nine Months Ended
| September 30, |  | September 30,
(in thousands) | 2021 |  | 2020 |  | 2021 |  | 2020
Federated Hermes Funds | $ | 256,036 |  |  | $ | 303,958 |  |  | $ | 772,090 |  |  | $ | 899,967 |
Separate Accounts | 66,404 |  |  | 57,111 |  |  | 195,441 |  |  | 172,633 |
Other 1 | 4,149 |  |  | 3,386 |  |  | 11,271 |  |  | 11,750 |
Total Revenue | $ | 326,589 |  |  | $ | 364,455 |  |  | $ | 978,802 |  |  | $ | 1,084,350 |
1 Primarily includes stewardship services revenue.
Schedule of Remaining Unsatisfied Performance Obligations | Based on existing contracts and the exchange rates as of September 30, 2021, Federated Hermes may recognize future fixed revenue from these services as presented in the following table:
(in thousands) |  |
Remainder of 2021 |  | $ | 4,418 |
2022 |  | 9,057 |
2023 |  | 4,486 |
2024 and Thereafter |  | 2,687 |
Total Remaining Unsatisfied Performance Obligations |  | $ | 20,648 |

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