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Revenue from Contracts with Customers (Tables) | 12 Months Ended
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Dec. 31, 2024
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregation of Revenue | The following table presents Federated Hermes’ revenue disaggregated by asset class:
(in thousands) | 2024 |  | 2023 |  | 2022
Money market | $ | 837,948 |  |  | $ | 754,074 |  |  | $ | 575,261 |
Equity | 473,065 |  |  | 483,650 |  |  | 526,957 |
Fixed-income | 195,798 |  |  | 189,280 |  |  | 206,794 |
Other | 125,282 |  |  | 182,570 |  |  | 136,802 |
Total Revenue | $ | 1,632,093 |  |  | $ | 1,609,574 |  |  | $ | 1,445,814 |
The following table presents Federated Hermes’ revenue disaggregated by performance obligation:
(in thousands) | 2024 |  | 2023 |  | 2022
Investment Advisory | $ | 1,097,866 |  |  | $ | 1,115,783 |  |  | $ | 1,011,631 |
Administrative Services | 387,531 |  |  | 343,332 |  |  | 294,557 |
Distribution | 120,276 |  |  | 126,350 |  |  | 112,356 |
Other | 26,420 |  |  | 24,109 |  |  | 27,270 |
Total Revenue | $ | 1,632,093 |  |  | $ | 1,609,574 |  |  | $ | 1,445,814 |
The following table presents Federated Hermes’ revenue disaggregated by offering type:
(in thousands) | 2024 |  | 2023 |  | 2022
Federated Hermes Funds | $ | 1,373,700 |  |  | $ | 1,348,591 |  |  | $ | 1,188,933 |
Separate Accounts | 240,422 |  |  | 244,952 |  |  | 238,638 |
Other | 17,971 |  |  | 16,031 |  |  | 18,243 |
Total Revenue | $ | 1,632,093 |  |  | $ | 1,609,574 |  |  | $ | 1,445,814 |
Schedule of Remaining Unsatisfied Performance Obligations | Based on existing contracts and the applicable foreign exchange rates as of December 31, 2024, Federated Hermes may recognize future fixed revenue from these services as presented in the following table:
(in thousands) |  |
2025 |  | $ | 9,941 |
2026 |  | 2,194 |
2027 |  | 825 |
2028 and Thereafter |  | 83 |
Total Remaining Unsatisfied Performance Obligations |  | $ | 13,043 |

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- 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 + Details
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- 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 + Details
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