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Revenue from Contracts with Customers
 6 Months Ended
Jun. 30, 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 EndedSix Months Ended
June 30,June 30,
(in thousands)2025202420252024
Money market$226,000 $207,389 $449,346 $410,029 
Equity118,999 115,742 236,902 232,257 
Fixed-income48,286 48,616 97,720 97,291 
Other31,559 30,836 64,416 59,377 
Total Revenue$424,844 $402,583 $848,384 $798,954 
The following table presents Federated Hermes’ revenue disaggregated by performance obligation:
Three Months EndedSix Months Ended
June 30,June 30,
(in thousands)2025202420252024
Investment Advisory$287,435 $270,622 $574,895 $534,916 
Administrative Services101,657 95,346 202,766 190,132 
Distribution28,322 30,060 57,087 61,426 
Other7,430 6,555 13,636 12,480 
Total Revenue$424,844 $402,583 $848,384 $798,954 
The following table presents Federated Hermes’ revenue disaggregated by offering type:
Three Months EndedSix Months Ended
June 30,June 30,
(in thousands)2025202420252024
Federated Hermes Funds$357,446 $338,647 $712,795 $669,588 
Separate Accounts62,088 59,511 126,175 121,014 
Other5,310 4,425 9,414 8,352 
Total Revenue$424,844 $402,583 $848,384 $798,954 
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 certain services, primarily stewardship services and real estate development performance obligations at June 30, 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 June 30, 2025, Federated Hermes may recognize future fixed revenue from these services as presented in the following table:
(in thousands)
Remainder of 2025$8,447 
20265,146 
20271,517 
2028 and Thereafter745 
Total Remaining Unsatisfied Performance Obligations$15,855