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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2023
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 at December 31:
(in thousands) |  |  | Level 1 |  | Level 2 |  | Level 3 |  |  |  | Total
2023 |  |  |  |  |  |  |  |  |  |  |
Financial Assets |  |  |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents |  |  | $ | 383,180 |  |  | $ | 0 |  |  | $ | 0 |  |  |  |  | $ | 383,180 |
Investments—Consolidated Investment Companies |  |  | 11,402 |  |  | 59,141 |  |  | 0 |  |  |  |  | 70,543 |
Investments—Affiliates and Other |  |  | 104,341 |  |  | 2,588 |  |  | 23 |  |  |  |  | 106,952 |
Other 1 |  |  | 6,160 |  |  | 1,309 |  |  | 0 |  |  |  |  | 7,469 |
Total Financial Assets |  |  | $ | 505,083 |  |  | $ | 63,038 |  |  | $ | 23 |  |  |  |  | $ | 568,144 |
Total Financial Liabilities 2 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 7,626 |  |  |  |  | $ | 7,626 |
2022 |  |  |  |  |  |  |  |  |  |  |
Financial Assets |  |  |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents |  |  | $ | 336,782 |  |  | $ | 0 |  |  | $ | 0 |  |  |  |  | $ | 336,782 |
Investments—Consolidated Investment Companies |  |  | 49,119 |  |  | 59,329 |  |  | 0 |  |  |  |  | 108,448 |
Investments—Affiliates and Other |  |  | 71,369 |  |  | 5,130 |  |  | 25 |  |  |  |  | 76,524 |
Other 1 |  |  | 6,538 |  |  | 469 |  |  | 0 |  |  |  |  | 7,007 |
Total Financial Assets |  |  | $ | 463,808 |  |  | $ | 64,928 |  |  | $ | 25 |  |  |  |  | $ | 528,761 |
Total Financial Liabilities 2 |  |  | $ | 27 |  |  | $ | 4 |  |  | $ | 8,439 |  |  |  |  | $ | 8,470 |
1 Amounts primarily consist of restricted cash, security deposits and derivative assets. 2 Amounts primarily consist of acquisition-related future contingent consideration liabilities.
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:
(in thousands) |  |
Balance at December 31, 2022 |  | $ | 8,439 |
Changes in Fair Value |  | 1,252 |
Contingent Consideration Payments |  | (2,065) |
Balance at December 31, 2023 |  | $ | 7,626 |

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- Definition 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 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 + Details
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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 -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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