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Revenue from Contracts with Customers (Tables)

9 Months Ended

Sep. 30, 2023

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)			2023						2022						2023						2022
Money market			$	186,760					$	170,542					$	559,622					$	402,639
Equity			123,485						127,183						371,282						406,642
Fixed-income			47,142						49,197						142,590						159,025
Other1			45,269						34,221						144,583						103,609
Total Revenue			$	402,656					$	381,143					$	1,218,077					$	1,071,915

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)			2023						2022						2023						2022
Asset Management1			$	276,771					$	263,644					$	851,089					$	754,681
Administrative Services			88,023						75,021						252,402						218,710
Distribution2			31,466						36,026						96,360						78,285
Other3			6,396						6,452						18,226						20,239
Total Revenue			$	402,656					$	381,143					$	1,218,077					$	1,071,915

1    The performance obligation can 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)			2023						2022						2023						2022
Domestic			$	322,028					$	311,254					$	971,077					$	849,570
Foreign1			80,628						69,889						247,000						222,345
Total Revenue			$	402,656					$	381,143					$	1,218,077					$	1,071,915

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)			2023						2022						2023						2022
Federated Hermes Funds			$	337,203					$	319,680					$	1,021,748					$	877,910
Separate Accounts			61,098						57,250						184,106						180,600
Other1			4,355						4,213						12,223						13,405
Total Revenue			$	402,656					$	381,143					$	1,218,077					$	1,071,915

1    Primarily includes stewardship services revenue.

Schedule of Remaining Unsatisfied Performance Obligations

Based on existing contracts and the applicable foreign exchange rates as of September 30, 2023, Federated Hermes may recognize future fixed revenue from these services as presented in the following table:

(in thousands)
Remainder of 2023						$	3,454
2024						7,243
2025						2,225
2026 and Thereafter						1,121
Total Remaining Unsatisfied Performance Obligations						$	14,043

X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

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X

- Definition

Tabular disclosure of expected timing for satisfying remaining performance obligation.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(1)
-SubTopic 10
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

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