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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of Classes of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents fair value measurements for classes of Federated Hermes’ financial assets and liabilities measured at fair value on a recurring basis:

(in thousands)						Level 1						Level 2						Level 3												Total
September 30, 2022
Financial Assets
Cash and Cash Equivalents						$	304,520					$	0					$	0											$	304,520
Investments—Consolidated Investment Companies						44,061						62,965						251												107,277
Investments—Affiliates and Other						64,426						4,948						25												69,399
Other1						6,130						0						0												6,130
Total Financial Assets						$	419,137					$	67,913					$	276											$	487,326
Total Financial Liabilities2						$	141					$	11,291					$	4,381											$	15,813
December 31, 2021
Financial Assets
Cash and Cash Equivalents						$	233,327					$	0					$	0											$	233,327
Investments—Consolidated Investment Companies						38,799						66,743						0												105,542
Investments—Affiliates and Other						82,594						5,165						46												87,805
Other1						7,105						0						0												7,105
Total Financial Assets						$	361,825					$	71,908					$	46											$	433,779
Total Financial Liabilities2						$	0					$	1,644					$	11,652											$	13,296

1    Amounts primarily consist of restricted cash and security deposits as of September 30, 2022 and December 31, 2021.

2    Amounts primarily consist of derivative and acquisition-related future contingent consideration liabilities as of September 30, 2022 and December 31, 2021.

Schedule of Reconciliation of Liability for Future Consideration Payments

The following table presents a reconciliation of the beginning and ending balances for Federated Hermes’ liability for future consideration payments related to these business combinations/asset acquisitions:

(in thousands)
Balance at December 31, 2021						$	11,652
Changes in Fair Value						(218)
Contingent Consideration Payments						(7,053)
Balance at September 30, 2022						$	4,381

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- References

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Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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