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Equity
 9 Months Ended
Sep. 30, 2021
Equity [Abstract]  
Equity Equity
In April 2021, the board of directors authorized a share repurchase program with no stated expiration date that allows the repurchase of up to 4.0 million shares of Class B common stock. No other program existed as of September 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 nine months of 2021, Federated Hermes repurchased approximately 3.1 million shares of its Class B common stock for $94.5 million ($3.2 million of which was accrued in Other Current Liabilities as of September 30, 2021), nearly all of which were repurchased in the open market. At September 30, 2021, approximately 2.6 million shares remained available to be repurchased under this share repurchase program.
The following table presents the activity for the Class B common stock and Treasury stock for the three and nine months ended September 30, 2021 and 2020. Class A shares have been excluded as there was no activity during these same periods.
 Three Months EndedNine Months Ended
September 30,September 30,
2021202020212020
Class B Shares
Beginning Balance97,558,017 100,279,043 99,331,443 101,130,379 
Stock Award Activity 10,000 22,500 734,674 728,831 
Purchase of Treasury Stock(593,619)(866,900)(3,091,719)(2,424,567)
Ending Balance96,974,398 99,434,643 96,974,398 99,434,643 
Treasury Shares
Beginning Balance11,947,439 9,226,413 10,174,013 8,375,077 
Stock Award Activity (10,000)(22,500)(734,674)(728,831)
Purchase of Treasury Stock593,619 866,900 3,091,719 2,424,567 
Ending Balance12,531,058 10,070,813 12,531,058 10,070,813 
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 
Net Income (Loss)(108)2,232 2,124 
Other Comprehensive Income (Loss), net of tax0 (9,953)(9,953)
Subscriptions—Redeemable Noncontrolling Interest Holders66,506 397 66,903 
Consolidation/(Deconsolidation)(74,836)0 (74,836)
Stock Award Activity0 2,557 2,557 
Distributions to Noncontrolling Interest in Subsidiaries(575)(603)(1,178)
Acquisition of Additional Equity of HFML0 (165,112)(165,112)
Change in Estimated Redemption Value of Redeemable Noncontrolling Interests0 (16,502)(16,502)
Balance at September 30, 2021$18,300 $37,172 $55,472 
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.
(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 
Net Income (Loss)1,473 (611)862 
Other Comprehensive Income (Loss), net of tax0 7,316 7,316 
Subscriptions—Redeemable Noncontrolling Interest Holders3,212 0 3,212 
Stock Award Activity0 2,164 2,164 
Distributions to Noncontrolling Interest in Subsidiaries(358)0 (358)
Change in Estimated Redemption Value of Redeemable Noncontrolling Interests0 (3,567)(3,567)
Balance at September 30, 2020$21,643 $192,658 $214,301