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Redeemable Noncontrolling Interests in Subsidiaries
 9 Months Ended
Sep. 30, 2024
Noncontrolling Interest [Abstract]  
Redeemable Noncontrolling Interests in Subsidiaries Equity
In October 2023, the Federated Hermes, Inc. board of directors (Board) 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, 2024. 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 the Board 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, 2024, Federated Hermes repurchased approximately 3.5 million shares of its Class B common stock for $111.5 million, nearly all of which were repurchased in the open market. At September 30, 2024, approximately 1.2 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 24, 2024.
The following table presents the activity for the Class B common stock and Treasury stock for the three and nine months ended September 30, 2024 and 2023. Class A shares have been excluded as there was no activity during these same periods.
 Three Months EndedNine Months Ended
September 30,September 30,
2024202320242023
Class B Shares
Beginning Balance82,600,376 88,290,140 84,840,989 89,275,935 
Stock Award Activity 22,500 5,000 423,207 387,996 
Purchase of Treasury Stock(818,164)(2,046,790)(3,459,484)(3,415,581)
Ending Balance81,804,712 86,248,350 81,804,712 86,248,350 
Treasury Shares
Beginning Balance16,905,080 11,215,316 14,664,467 10,229,521 
Stock Award Activity (22,500)(5,000)(423,207)(387,996)
Purchase of Treasury Stock818,164 2,046,790 3,459,484 3,415,581 
Ending Balance17,700,744 13,257,106 17,700,744 13,257,106 
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, 2023$14,341 $11,504 $25,845 
Net Income (Loss)(72)49 (23)
Other Comprehensive Income (Loss), net of tax0 (106)(106)
Subscriptions—Redeemable Noncontrolling Interest Holders2,480 244 2,724 
Consolidation/(Deconsolidation)48,100 0 48,100 
Distributions to Noncontrolling Interests in Subsidiaries(2,853)(557)(3,410)
Balance at March 31, 2024$61,996 $11,134 $73,130 
Net Income (Loss)(1,658)(144)(1,802)
Other Comprehensive Income (Loss), net of tax0 13 13 
Subscriptions—Redeemable Noncontrolling Interest Holders16,315 (12)16,303 
Consolidation/(Deconsolidation)(52,723)0 (52,723)
Distributions to Noncontrolling Interests in Subsidiaries(2,933)(1,497)(4,430)
Balance at June 30, 2024$20,997 $9,494 $30,491 
Net Income (Loss)2,303 500 2,803 
Other Comprehensive Income (Loss), net of tax0 554 554 
Subscriptions—Redeemable Noncontrolling Interest Holders13,361 142 13,503 
Consolidation/(Deconsolidation)16,624 0 16,624 
Distributions to Noncontrolling Interests in Subsidiaries(10,395)(172)(10,567)
Balance at September 30, 2024$42,890 $10,518 $53,408 
(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