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Investments

3 Months Ended

Mar. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Investments

Investments At March 31, 2023 and December 31, 2022, Federated Hermes held investments in non-consolidated fluctuating-value Federated Hermes Funds of $73.5 million and $67.0 million, respectively, primarily in mutual funds which represent equity investments for Federated Hermes, and held investments in Separate Accounts of $7.1 million and $9.5 million at March 31, 2023 and December 31, 2022, respectively, that were included in Investments—Affiliates and Other on the Consolidated Balance Sheets. Federated Hermes’ investments held in Separate Accounts as of March 31, 2023 and December 31, 2022 were primarily composed of stocks of large domestic and foreign companies ($3.1 million and $3.4 million, respectively) and domestic debt securities ($2.5 million and $4.6 million, respectively).

Federated Hermes consolidates certain Federated Hermes Funds into its Consolidated Financial Statements as a result of its controlling financial interest in these Federated Hermes Funds (see Note (6)). All investments held by these consolidated Federated Hermes Funds were included in Investments—Consolidated Investment Companies on Federated Hermes’ Consolidated Balance Sheets.

The investments held by consolidated Federated Hermes Funds as of March 31, 2023 and December 31, 2022 were primarily composed of domestic and foreign debt securities ($57.7 million and $57.8 million, respectively), stocks of large domestic and foreign companies ($18.6 million and $45.3 million, respectively), mutual funds ($3.5 million and $2.1 million, respectively) and stocks of small and mid-sized domestic and foreign companies ($3.5 million and $3.3 million, respectively).

The following table presents gains and losses recognized in Gain (Loss) on Securities, net on the Consolidated Statements of Income in connection with Federated Hermes’ investments:

						Three Months Ended
						March 31,
(in thousands)						2023						2022
Investments—Consolidated Investment Companies
Net Unrealized Gains (Losses)						$	3,621					$	(5,188)
Net Realized Gains (Losses)1						(641)						(462)
Net Gains (Losses) on Investments—Consolidated Investment Companies						2,980						(5,650)
Investments—Affiliates and Other
Net Unrealized Gains (Losses)						2,353						(6,659)
Net Realized Gains (Losses)1						159						614
Net Gains (Losses) on Investments—Affiliates and Other						2,512						(6,045)
Gain (Loss) on Securities, net						$	5,492					$	(11,695)

1    Realized gains and losses are computed on a specific-identification basis.

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- References

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- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-URI https://asc.fasb.org/subtopic&trid=2209399

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-URI https://asc.fasb.org/subtopic&trid=2324412

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-URI https://asc.fasb.org/topic&trid=2196928

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 320
-URI https://asc.fasb.org/subtopic&trid=2176304

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1403
-Paragraph (b)

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