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Redeemable Noncontrolling Interests in Subsidiaries
 9 Months Ended
Sep. 30, 2023
Noncontrolling Interest [Abstract]  
Redeemable Noncontrolling Interests in Subsidiaries Equity In June 2022, the board of directors authorized a share repurchase program with no stated expiration date that allows the repurchase of up to 5.0 million shares of Class B common stock. No other program existed as of September 30, 2023. 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 nine months ended September 30, 2023, Federated Hermes repurchased approximately 3.4 million shares of its Class B common stock for $117.0 million ($6.8 million of which was accrued in Other Current Liabilities as of September 30, 2023), nearly all of which were repurchased in the open market. At September 30, 2023, approximately 1.4 million shares remain available to be repurchased under this share repurchase program. See Note (19) to the Consolidated Financial Statements for information regarding a new share repurchase program approved on October 26, 2023.The following table presents the activity for the Class B common stock and Treasury stock for the three and nine months ended September 30, 2023 and 2022. Class A shares have been excluded as there was no activity during these same periods.
 Three Months EndedNine Months Ended
September 30,September 30,
2023202220232022
Class B Shares
Beginning Balance88,290,140 89,197,952 89,275,935 93,410,968 
Stock Award Activity 5,000 0 387,996 1,704,592 
Purchase of Treasury Stock(2,046,790)(211,885)(3,415,581)(6,129,493)
Ending Balance86,248,350 88,986,067 86,248,350 88,986,067 
Treasury Shares
Beginning Balance11,215,316 20,307,504 10,229,521 16,094,488 
Stock Award Activity (5,000)0 (387,996)(1,704,592)
Purchase of Treasury Stock2,046,790 211,885 3,415,581 6,129,493 
Retirement of Treasury Stock0 (10,000,000)0 (10,000,000)
Ending Balance13,257,106 10,519,389 13,257,106 10,519,389 
Redeemable Noncontrolling Interests in Subsidiaries The following table presents the changes in Redeemable Noncontrolling Interests in Subsidiaries:
(in thousands)Consolidated Investment CompaniesOther EntitiesTotal
Balance at December 31, 2022$50,317 $11,504 $61,821 
Net Income (Loss)1,925 (60)1,865 
Other Comprehensive Income (Loss), net of tax0 232 232 
Subscriptions—Redeemable Noncontrolling Interest Holders12,669 107 12,776 
Consolidation/(Deconsolidation)(33,962)0 (33,962)
Distributions to Noncontrolling Interests in Subsidiaries(2,499)(725)(3,224)
Balance at March 31, 2023$28,450 $11,058 $39,508 
Net Income (Loss)486 341 827 
Other Comprehensive Income (Loss), net of tax0 328 328 
Subscriptions—Redeemable Noncontrolling Interest Holders19,642 42 19,684 
Consolidation/(Deconsolidation)12,119 0 12,119 
Distributions to Noncontrolling Interests in Subsidiaries(14,017)(437)(14,454)
Balance at June 30, 2023$46,680 $11,332 $58,012 
Net Income (Loss)(804)44 (760)
Other Comprehensive Income (Loss), net of tax(8)(446)(454)
Subscriptions—Redeemable Noncontrolling Interest Holders35,323 0 35,323 
Consolidation/(Deconsolidation)(6,601)0 (6,601)
Distributions to Noncontrolling Interests in Subsidiaries(14,621)(268)(14,889)
Balance at September 30, 2023$59,969 $10,662 $70,631 
(in thousands)Consolidated Investment CompaniesFHL and Other EntitiesTotal
Balance at December 31, 2021$24,659 $38,543 $63,202 
Net Income (Loss)(1,744)478 (1,266)
Other Comprehensive Income (Loss), net of tax0 (457)(457)
Subscriptions—Redeemable Noncontrolling Interest Holders29,577 763 30,340 
Consolidation/(Deconsolidation)(16,034)0 (16,034)
Stock Award Activity0 707 707 
Distributions to Noncontrolling Interests in Subsidiaries(771)(3,568)(4,339)
Change in Estimated Redemption Value of Redeemable Noncontrolling Interests in FHL0 14,221 14,221 
Acquisition of Additional Equity of FHL0 (37,805)(37,805)
Balance at March 31, 2022$35,687 $12,882 $48,569 
Net Income (Loss)(7,616)717 (6,899)
Other Comprehensive Income (Loss), net of tax0 (1,068)(1,068)
Subscriptions—Redeemable Noncontrolling Interest Holders14,977 337 15,314 
Distributions to Noncontrolling Interests in Subsidiaries(1,024)(161)(1,185)
Balance at June 30, 2022$42,024 $12,707 $54,731 
Net Income (Loss)(2,104)199 (1,905)
Other Comprehensive Income (Loss), net of tax0 (1,713)(1,713)
Subscriptions—Redeemable Noncontrolling Interest Holders3,591 903 4,494 
Consolidation/(Deconsolidation)15,599 0 15,599 
Distributions to Noncontrolling Interests in Subsidiaries(15,512)(1,108)(16,620)
Balance at September 30, 2022$43,598 $10,988 $54,586