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Revenue from Contracts with Customers (Tables)
 9 Months Ended
Sep. 30, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following table presents Federated Hermes’ revenue disaggregated by asset class:
Three Months EndedNine Months Ended
September 30,September 30,
(in thousands)2024202320242023
Money market$208,443 $186,760 $618,472 $559,622 
Equity117,844 123,485 350,101 371,282 
Fixed-income49,512 47,142 146,803 142,590 
Other32,657 45,269 92,034 144,583 
Total Revenue$408,456 $402,656 $1,207,410 $1,218,077 
The following table presents Federated Hermes’ revenue disaggregated by performance obligation:
Three Months EndedNine Months Ended
September 30,September 30,
(in thousands)2024202320242023
Investment Advisory1
$274,621 $276,771 $809,537 $851,089 
Administrative Services97,687 88,023 287,819 252,402 
Distribution2
29,193 31,466 90,619 96,360 
Other6,955 6,396 19,435 18,226 
Total Revenue$408,456 $402,656 $1,207,410 $1,218,077 
1    The Investment Advisory performance obligation can also 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 Distribution 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.
The following table presents Federated Hermes’ revenue disaggregated by geographical market:
Three Months EndedNine Months Ended
September 30,September 30,
(in thousands)2024202320242023
Domestic$346,015 $322,028 $1,022,011 $971,077 
Foreign1
62,441 80,628 185,399 247,000 
Total Revenue$408,456 $402,656 $1,207,410 $1,218,077 
1    This represents revenue earned by non-U.S. domiciled subsidiaries.
The following table presents Federated Hermes’ revenue disaggregated by offering type:
Three Months EndedNine Months Ended
September 30,September 30,
(in thousands)2024202320242023
Federated Hermes Funds$344,795 $337,203 $1,014,383 $1,021,748 
Separate Accounts58,869 61,098 179,883 184,106 
Other4,792 4,355 13,144 12,223 
Total Revenue$408,456 $402,656 $1,207,410 $1,218,077 
Schedule of Remaining Unsatisfied Performance Obligations Based on existing contracts and the applicable foreign exchange rates as of September 30, 2024, Federated Hermes may recognize future fixed revenue from these services as presented in the following table:
(in thousands)
Remainder of 2024$3,935 
20257,006 
20261,956 
2027 and Thereafter260 
Total Remaining Unsatisfied Performance Obligations$13,157