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Revenue from Contracts with Customers
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers Revenue from Contracts with Customers
The following table presents Federated Hermes’ revenue disaggregated by asset class:
Three Months Ended
March 31,
(in thousands)20252024
Money market$223,346 $202,640 
Equity117,903 116,515 
Fixed-income49,434 48,675 
Other32,857 28,541 
Total Revenue$423,540 $396,371 
The following table presents Federated Hermes’ revenue disaggregated by performance obligation:
Three Months Ended
March 31,
(in thousands)20252024
Investment Advisory$287,460 $264,294 
Administrative Services101,109 94,786 
Distribution28,765 31,366 
Other6,206 5,925 
Total Revenue$423,540 $396,371 
The following table presents Federated Hermes’ revenue disaggregated by offering type:
Three Months Ended
March 31,
(in thousands)20252024
Federated Hermes Funds$355,349 $330,941 
Separate Accounts64,087 61,503 
Other4,104 3,927 
Total Revenue$423,540 $396,371 
For nearly all revenue, Federated Hermes is not required to disclose certain estimates of revenue expected to be recorded in future periods as a result of applying the following exemptions: (1) contract terms are short-term in nature (i.e., expected duration of one year or less due to termination provisions) and (2) the expected variable consideration would be allocated entirely to future service periods.
Federated Hermes expects to recognize revenue in the future related to the unsatisfied portion of the stewardship services and real estate development performance obligations at March 31, 2025. Generally, contracts are billed in arrears on a quarterly basis and have a three-year duration, after which the customer can terminate the agreement with notice, generally from three to 12 months. Based on existing contracts and the applicable foreign exchange rates as of March 31, 2025, Federated Hermes may recognize future fixed revenue from these services as presented in the following table:
(in thousands)
Remainder of 2025$8,897 
20263,324 
20271,068 
2028 and Thereafter498 
Total Remaining Unsatisfied Performance Obligations$13,787