Federated Hermes (FHI) 10-Q 29 Jul 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 25, 2016
Entity Registrant Name	FEDERATED INVESTORS INC /PA/
Entity Central Index Key	1,056,288
Trading Symbol	FII
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,016
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Amendment Flag	false
Subsequent Event [Member] | Class A [Member]
Entity Common Stock, Shares Outstanding		9,000
Subsequent Event [Member] | Class B [Member]
Entity Common Stock, Shares Outstanding		103,113,637

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Current Assets
Cash and cash equivalents	$ 153,860	$ 172,628
Investments—affiliates	134,413	141,748
Investments—consolidated investment companies	56,879	25,368
Investments—other	7,299	7,071
Receivables, net of reserve of $2 and $59, respectively	39,469	33,524
Prepaid expenses	11,214	10,722
Other current assets	3,305	4,767
Total current assets	406,439	395,828
Long-Term Assets
Goodwill	659,189	659,315
Renewable investment advisory contracts	70,378	70,582
Other intangible assets, net of accumulated amortization of $21,724 and $21,116, respectively	3,987	4,595
Property and equipment, net of accumulated depreciation of $60,364 and $56,034, respectively	38,315	35,743
Other long-term assets	21,529	21,140
Total long-term assets	793,398	791,375
Total assets	1,199,837	1,187,203
Current Liabilities
Short-term debt	25,500	25,500
Accounts payable and accrued expenses	52,643	43,551
Accrued compensation and benefits	43,591	75,691
Other current liabilities	13,342	14,466
Total current liabilities	135,076	159,208
Long-Term Liabilities
Long-term debt	178,500	191,250
Long-term deferred tax liability, net	170,279	158,895
Other long-term liabilities	17,205	20,144
Total long-term liabilities	365,984	370,289
Total liabilities	501,060	529,497
Commitments and contingencies (Note (12))
TEMPORARY EQUITY
Redeemable noncontrolling interest in subsidiaries	29,670	8,734
PERMANENT EQUITY
Retained earnings	577,856	545,785
Treasury stock, at cost, 6,331,819 and 5,411,429 shares Class B common stock, respectively	(219,616)	(191,939)
Accumulated other comprehensive loss, net of tax	(2,056)	(4,609)
Total Federated Investors, Inc. shareholders’ equity	667,784	647,816
Nonredeemable noncontrolling interest in subsidiary	1,323	1,156
Total permanent equity	669,107	648,972
Total liabilities, temporary equity and permanent equity	1,199,837	1,187,203
Class A [Member]
PERMANENT EQUITY
Common stock	189	189
Class B [Member]
PERMANENT EQUITY
Common stock	$ 311,411	$ 298,390

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Receivables, reserve	$ 2	$ 59
Other intangible assets, accumulated amortization	21,724	21,116
Property and equipment, accumulated depreciation	$ 60,364	$ 56,034
Treasury stock, shares	6,331,819	5,411,429
Class A [Member]
Common stock, no par value	$ 0	$ 0
Common stock, shares authorized	20,000	20,000
Common stock, shares issued	9,000	9,000
Common stock, shares outstanding	9,000	9,000
Class B [Member]
Common stock, no par value	$ 0	$ 0
Common stock, shares authorized	900,000,000	900,000,000
Common stock, shares issued	109,505,456	109,505,456

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenue
Investment advisory fees, net—affiliates		$ 165,956	$ 129,464	$ 320,733	$ 251,498
Investment advisory fees, net—other		26,707	24,965	53,777	49,489
Administrative service fees, net—affiliates		53,131	51,605	106,604	104,622
Other service fees, net—affiliates		38,803	19,996	73,500	38,715
Other service fees, net—other		1,140	1,035	2,341	2,102
Other, net		1,001	1,062	1,892	2,223
Total revenue		286,738	228,127	558,847	448,649
Operating Expenses
Distribution		94,741	54,058	183,122	107,553
Compensation and related		75,225	70,940	151,995	147,438
Systems and communications		7,767	6,979	15,632	13,849
Office and occupancy		6,675	6,710	13,563	13,563
Professional service fees		3,645	7,285	12,526	15,167
Advertising and promotional		3,938	3,504	7,380	6,975
Travel and related		3,656	3,533	6,562	6,291
Other		3,421	5,839	5,842	9,496
Total operating expenses		199,068	158,848	396,622	320,332
Operating income		87,670	69,279	162,225	128,317
Nonoperating Income (Expenses)
Investment income, net		1,674	1,390	3,247	2,534
(Loss) gain on securities, net	[1]	(569)	(980)	522	(1,234)
Debt expense		(1,020)	(974)	(2,079)	(2,347)
Other, net		(2)	(15)	(7)	(28)
Total nonoperating income (expenses), net		83	(579)	1,683	(1,075)
Income before income taxes		87,753	68,700	163,908	127,242
Income tax provision		31,335	26,437	58,531	48,561
Net income including the noncontrolling interests in subsidiaries		56,418	42,263	105,377	78,681
Less: Net income attributable to the noncontrolling interests in subsidiaries		3,709	504	7,225	615
Net income		$ 52,709	$ 41,759	$ 98,152	$ 78,066
Amounts Attributable to Federated Investors, Inc.
Earnings per common share—Basic and Diluted	[2]	$ 0.51	$ 0.40	$ 0.94	$ 0.74
Cash dividends per share		$ 0.25	$ 0.25	$ 0.50	$ 0.50
[1]	Amounts related to consolidated entities, primarily Federated Funds, totaled $0.9 million and $1.9 million for the three and six months ended June 30, 2016, respectively, and $(0.8) million and $(1.1) million for the three and six months ended June 30, 2015, respectively.
[2]	Federated Common Stock excludes unvested restricted stock which are deemed participating securities in accordance with the two-class method of computing earnings per share.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net income including the noncontrolling interests in subsidiaries	$ 56,418	$ 42,263	$ 105,377	$ 78,681
Permanent equity
Unrealized gain on interest rate swap	0	0	0	42
Reclassification adjustment related to interest rate swap	0	0	0	227
Unrealized gain (loss) on securities available for sale	408	(299)	985	388
Reclassification adjustment related to securities available for sale	1,020	0	1,844	0
Foreign currency items	(302)	262	(276)	(178)
Temporary equity
Foreign currency translation (loss) gain	(3)	0	3	0
Other comprehensive income (loss)	1,123	(37)	2,556	479
Comprehensive income including the noncontrolling interests in subsidiaries	57,541	42,226	107,933	79,160
Less: Comprehensive income (loss) attributable to redeemable noncontrolling interest in subsidiaries	872	(298)	1,893	(383)
Less: Comprehensive income attributable to nonredeemable noncontrolling interest in subsidiary	2,834	802	5,335	998
Comprehensive income attributable to Federated Investors, Inc.	$ 53,835	$ 41,722	$ 100,705	$ 78,545

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Loss, Net of Tax [Member]	Total Shareholders' Equity [Member]	Nonredeemable Noncontrolling Interest in Subsidiary [Member]	Redeemable Noncontrolling Interest in Subsidiaries/Temporary Equity [Member]
Balance at Dec. 31, 2014	$ 609,652	$ 271,020	$ 505,394	$ (165,258)	$ (1,662)	$ 609,494	$ 158	$ 3,697
Net income (loss)	79,064		78,066			78,066	998	(383)
Other comprehensive income, net of tax	479				479	479		0
Subscriptions—redeemable noncontrolling interest holders	0							10,539
Stock award activity	15,894	15,812	(12,396)	12,478		15,894
Dividends declared	(52,441)		(52,441)			(52,441)
Distributions to noncontrolling interest in subsidiaries	(134)						(134)	(1,630)
Purchase of treasury stock	(20,492)			(20,492)		(20,492)
Balance at Jun. 30, 2015	632,022	286,832	518,623	(173,272)	(1,183)	631,000	1,022	12,223
Balance at Dec. 31, 2015	648,972	298,579	545,785	(191,939)	(4,609)	647,816	1,156	8,734
Net income (loss)	103,487		98,152			98,152	5,335	1,890
Other comprehensive income, net of tax	1,722				1,722	1,722		3
Subscriptions—redeemable noncontrolling interest holders	0							10,774
Deconsolidation	0							(1,372)
Stock award activity	13,049	12,898	(13,186)	13,337		13,049
Dividends declared	(51,984)		(51,984)			(51,984)
Distributions to noncontrolling interest in subsidiaries	(5,168)						(5,168)	(5,209)
Purchase of treasury stock	(41,014)			(41,014)		(41,014)
Balance at Jun. 30, 2016	$ 669,107	$ 311,600	$ 577,856	$ (219,616)	$ (2,056)	$ 667,784	$ 1,323	$ 29,670

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Operating Activities
Net income including the noncontrolling interests in subsidiaries	$ 105,377	$ 78,681
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities
Amortization of deferred sales commissions	5,856	8,058
Depreciation and other amortization	4,859	4,851
Share-based compensation expense	12,927	12,352
Loss on disposal of assets	1,394	760
Provision for deferred income taxes	11,911	11,576
Impairment of assets	1,637	0
Adoption of new accounting pronouncement	(2,653)	0
Net purchases of trading securities	(5,977)	(7,521)
Deferred sales commissions paid	(6,824)	(8,132)
Contingent deferred sales charges received	1,093	1,132
Other changes in assets and liabilities:
Increase in receivables, net	(5,532)	(1,912)
(Increase) decrease in prepaid expenses and other assets	(4,756)	1,150
Decrease in accounts payable and accrued expenses	(26,019)	(31,288)
(Decrease) increase in other liabilities	(4,141)	2,873
Net cash provided by operating activities	89,152	72,580
Investing Activities
Purchases of securities available for sale	(1,537)	(1,918)
Proceeds from redemptions of securities available for sale	151	0
Cash paid for property and equipment	(7,077)	(3,230)
Net cash used by investing activities	(8,463)	(5,148)
Financing Activities
Dividends paid	(51,986)	(52,448)
Purchases of treasury stock	(35,197)	(19,469)
Distributions to noncontrolling interest in subsidiaries	(10,377)	(1,764)
Contributions from noncontrolling interest in subsidiaries	10,774	10,539
Proceeds from shareholders for share-based compensation	149	82
Excess tax benefits from share-based compensation	0	2,198
Cash paid for business acquisitions	(70)	0
Payments on debt	(12,750)	(12,750)
Net cash used by financing activities	(99,457)	(73,612)
Net decrease in cash and cash equivalents	(18,768)	(6,180)
Cash and cash equivalents, beginning of period	172,628	115,267
Cash and cash equivalents, end of period	$ 153,860	$ 109,087

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2016
Basis of Accounting [Abstract]
Basis of Accounting	Basis of Presentation The interim Consolidated Financial Statements of Federated Investors, Inc. and its consolidated subsidiaries (collectively, Federated) included herein have been prepared in accordance with U.S. generally accepted accounting principles (GAAP). In the opinion of management, the financial statements reflect all adjustments that are of a normal recurring nature and necessary for a fair presentation of the results for the interim periods presented. In preparing the financial statements, management is required to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying notes. Actual results may differ from those estimates, and such differences may be material to the Consolidated Financial Statements. These financial statements should be read in conjunction with Federated's Annual Report on Form 10-K for the year ended December 31, 2015 . Certain items previously reported have been reclassified to conform with the current period's presentation.

Recent Accounting Pronouncement

Recent Accounting Pronouncements Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2016
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	Consolidation On February 18, 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis, which affects reporting organizations' evaluation of whether they should consolidate certain legal entities. This includes a scope exception for reporting entities with an interest in legal entities that are required to comply with or operate in accordance with the requirements similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. Effective January 1, 2016, Federated adopted ASU 2015-02 using the modified retrospective transition method, which did not require the restatement of prior years. In connection with the adoption of ASU 2015-02, Federated reevaluated all of its sponsored investment companies and other funds ( Federated Funds ). As a result, certain Federated Funds previously accounted for as variable interest entities (VIEs) now meet the characteristics of voting rights entities (VREs). The adoption of ASU 2015-02 resulted in the consolidation of one Federated Fund that was not previously consolidated. Upon adoption, this entity was deemed to be a VIE and Federated was deemed to be the primary beneficiary. As a result of this consolidation, Federated recorded $29.4 million in assets, of which $11.5 million was included in Investments—affiliates at December 31, 2015, $0.2 million in liabilities and $17.7 million in Redeemable noncontrolling interest in subsidiaries . Federated also reclassified $0.8 million of unrealized losses from Accumulated other comprehensive loss, net of tax to Retained earnings . The adoption of ASU 2015-02 also resulted in the deconsolidation of one Federated Fund that was previously consolidated. Upon adoption, Federated was no longer deemed to be the primary beneficiary of this VIE. As a result, Federated deconsolidated $5.5 million in assets, $2.7 million in liabilities and $2.8 million in Redeemable noncontrolling interest in subsidiaries . There was no impact to the Consolidated Statements of Income upon adoption of ASU 2015-02. See Note (3) for the updated Principles of Consolidation accounting policy. Accounting for Fees Paid in a Cloud Computing Arrangement On January 1, 2016, Federated adopted ASU 2015-05, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Fees Paid in a Cloud Computing Arrangement. This update provides guidance about whether a cloud computing arrangement includes a software license. Management elected the prospective transition method and the adoption did not have a material impact on Federated's Consolidated Financial Statements. Disclosure of Investments in Certain Entities that Calculate Net Asset Value per Share On January 1, 2016, Federated adopted ASU 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value (NAV) per Share (or Its Equivalent). This update modifies certain disclosure requirements and requires that all investments for which fair value is measured using the NAV practical expedient be excluded from the fair value hierarchy. The ASU required the retrospective adoption approach, which required the restatement of the prior period fair value hierarchy table. As a result, $31.8 million of investments were recategorized into the NAV practical expedient column and are no longer included in Level 2 as of December 31, 2015 (see Note (7) ). The adoption did not have a material impact on Federated's Consolidated Financial Statements. Share-Based Compensation During the second quarter 2016, Federated adopted ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, effective January 1, 2016. The areas for simplification in this update involve several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The adoption of ASU 2016-09 requires that all excess tax benefits and deficiencies (including tax benefits from dividends paid on unvested restricted stock awards) now be recognized in the Income tax provision in the Consolidated Statements of Income. Accordingly, Federated reduced its income tax provision by $0.2 million and $0.4 million for the three and six months ended June 30, 2016, respectively. The ASU also requires excess tax benefits to be classified as operating activities along with other income tax cash flows within the Consolidated Statements of Cash Flows. These amendments were adopted on a prospective basis, which did not require the restatement of prior years. ASU 2016-09 also allows entities to make an accounting policy election to either estimate the number of forfeitures expected to occur (as is currently required) or to account for actual forfeitures as they occur. Federated has elected to account for forfeitures as they occur. The ASU required the modified retrospective transition method through a cumulative-effect adjustment to retained earnings. Effective January 1, 2016, Federated recorded an adjustment of $0.1 million as a decrease to retained earnings and an increase to common stock to reflect this change in accounting policy.
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	Revenue Recognition On May 28, 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), which supersedes virtually all existing revenue recognition guidance under GAAP. The update's core principle is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. On July 9, 2015, the FASB approved a one-year deferral of the effective date of the update, and issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, on August 12, 2015. As a result of the deferral, the update is effective for Federated on January 1, 2018, with early adoption permitted on January 1, 2017. During 2016, the FASB issued ASU 2016-08, which clarifies principal versus agent considerations, ASU 2016-10, which clarifies identifying performance obligations and the licensing implementation guidance and ASU 2016-12, which addresses implementation issues and provides additional practical expedients. ASU 2014-09 allows for the use of either the retrospective or modified retrospective adoption method. Management is currently evaluating the available transition methods and the potential impact of adoption on Federated's Consolidated Financial Statements. Deferred Taxes On November 20, 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes. The amendments in this update require that deferred tax liabilities and assets be classified as noncurrent on the balance sheet. The update is effective for Federated on January 1, 2017, with early adoption permitted. The update allows for the use of either a prospective or retrospective adoption approach. Management is currently evaluating the available transition methods and does not expect this update to have a material impact on Federated's Consolidated Financial Statements. Financial Instruments On January 5, 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The ASU significantly revises an entity's accounting related to (1) the classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. The ASU also amends certain disclosure requirements associated with the fair value of financial instruments. The update is effective for Federated on January 1, 2018, and, except for certain provisions, does not permit early adoption. An entity should apply the amendments, with certain exceptions, by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. Management is currently evaluating the potential impact of adoption on Federated's Consolidated Financial Statements. Leases On February 25, 2016, the FASB issued ASU 2016-02, Leases (Topic 842). The core principal of Topic 842 is that a lessee should recognize the assets and liabilities that arise from leases on the balance sheet, but retains a distinction between finance and operating leases. The update is effective for Federated on January 1, 2019, with early adoption permitted. The update requires the modified retrospective adoption approach. Management is currently evaluating the potential impact of adoption on Federated's Consolidated Financial Statements.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	Significant Accounting Policies As a result of the adoption of ASU 2015-02, the following Principles of Consolidation accounting policy has been updated to reflect the new guidance. For a complete listing of Federated’s significant accounting policies, please refer to Federated’s Annual Report on Form 10-K for the year ended December 31, 2015 . Principles of Consolidation Federated performs an analysis for each Federated Fund or other entity in which Federated holds a financial interest to determine if it is a VIE or VRE. Factors considered in this analysis include, but are not limited to, whether (1) it is a legal entity, (2) a scope exception applies, (3) a variable interest exists and (4) shareholders have the power to direct the activities that most significantly impact the economic performance, as well as the equity ownership, and any related party or de facto agent implications of Federated's involvement with the entity. Entities that are determined to be VIEs are consolidated if Federated is deemed to be the primary beneficiary. Entities that are determined to be VREs are generally consolidated if Federated holds the majority voting interest. Federated's conclusion to consolidate a Federated Fund may vary from period to period, most commonly as a result of changes in its percentage interest in the entity. To the extent Federated's interest in a consolidated entity represents less than 100% of the entity's equity, Federated recognizes noncontrolling interests in subsidiaries. In the case of consolidated Federated Funds , the noncontrolling interests represent equity which is redeemable or convertible for cash or other assets at the option of the equity holder. As such, these noncontrolling interests are deemed to represent temporary equity and are classified as Redeemable noncontrolling interest in subsidiaries in the mezzanine section of the Consolidated Balance Sheets. All other noncontrolling interests in subsidiaries are classified as permanent equity in the Consolidated Balance Sheets. All significant intercompany accounts and transactions have been eliminated. Consolidation of Variable Interest Entities Prior to the adoption of ASU 2015-02, Federated considered either a qualitative or quantitative model for identifying whether its interest in a VIE was a controlling financial interest. Considerations of the qualitative model included whether Federated had (1) the ability to direct significant activities of the VIE and (2) the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. For the quantitative model, Federated evaluated the extent of its participation in the economic risks and rewards of the entity. In cases where the results indicated that Federated's interest in such an entity absorbed the majority of the variability in the entity's net assets, Federated was deemed to be the primary beneficiary and thus consolidated the entity. Following the adoption of ASU 2015-02, Federated has a controlling financial interest in a VIE and is, therefore, deemed to be the primary beneficiary of a VIE if it has (1) the power to direct the activities of a VIE that most significantly impact the VIE's economic performance and (2) the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. Consolidation of Voting Rights Entities Federated has a controlling financial interest in a VRE if it can exert control over the financial and operating policies of the VRE, which generally occurs when Federated holds the majority voting interest (i.e. greater than 50% of the voting equity interest).
Consolidation, Policy [Policy Text Block]	Principles of Consolidation Federated performs an analysis for each Federated Fund or other entity in which Federated holds a financial interest to determine if it is a VIE or VRE. Factors considered in this analysis include, but are not limited to, whether (1) it is a legal entity, (2) a scope exception applies, (3) a variable interest exists and (4) shareholders have the power to direct the activities that most significantly impact the economic performance, as well as the equity ownership, and any related party or de facto agent implications of Federated's involvement with the entity. Entities that are determined to be VIEs are consolidated if Federated is deemed to be the primary beneficiary. Entities that are determined to be VREs are generally consolidated if Federated holds the majority voting interest. Federated's conclusion to consolidate a Federated Fund may vary from period to period, most commonly as a result of changes in its percentage interest in the entity. To the extent Federated's interest in a consolidated entity represents less than 100% of the entity's equity, Federated recognizes noncontrolling interests in subsidiaries. In the case of consolidated Federated Funds , the noncontrolling interests represent equity which is redeemable or convertible for cash or other assets at the option of the equity holder. As such, these noncontrolling interests are deemed to represent temporary equity and are classified as Redeemable noncontrolling interest in subsidiaries in the mezzanine section of the Consolidated Balance Sheets. All other noncontrolling interests in subsidiaries are classified as permanent equity in the Consolidated Balance Sheets. All significant intercompany accounts and transactions have been eliminated. Consolidation of Variable Interest Entities Prior to the adoption of ASU 2015-02, Federated considered either a qualitative or quantitative model for identifying whether its interest in a VIE was a controlling financial interest. Considerations of the qualitative model included whether Federated had (1) the ability to direct significant activities of the VIE and (2) the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. For the quantitative model, Federated evaluated the extent of its participation in the economic risks and rewards of the entity. In cases where the results indicated that Federated's interest in such an entity absorbed the majority of the variability in the entity's net assets, Federated was deemed to be the primary beneficiary and thus consolidated the entity. Following the adoption of ASU 2015-02, Federated has a controlling financial interest in a VIE and is, therefore, deemed to be the primary beneficiary of a VIE if it has (1) the power to direct the activities of a VIE that most significantly impact the VIE's economic performance and (2) the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. Consolidation of Voting Rights Entities Federated has a controlling financial interest in a VRE if it can exert control over the financial and operating policies of the VRE, which generally occurs when Federated holds the majority voting interest (i.e. greater than 50% of the voting equity interest).

Concentration Risk

Concentration Risk	6 Months Ended
	Jun. 30, 2016
Risks and Uncertainties [Abstract]
Concentration Risk	Concentration Risk (a) Revenue Concentration by Asset Class The following table summarizes the percentage of total revenue earned from Federated's asset classes for the periods presented: Six Months Ended June 30, 2016 2015 Money market assets 47 % 31 % Equity assets 37 % 47 % Fixed-income assets 16 % 22 % The change in the relative proportion of Federated's revenue attributable to money market assets for the first six months of 2016 as compared to the same period in 2015 was primarily the result of the decrease in voluntary waivers (either through fee waivers or reimbursements or assumptions of expenses) in order for certain money market funds to maintain positive or zero net yields (Voluntary Yield-related Fee Waivers) and, to a lesser extent, higher average money market assets. Current Regulatory Environment Federated and its investment management business are subject to extensive regulation in the U.S. and abroad. Federated and its products, such as the Federated Funds , and strategies are subject to federal securities laws, principally the Securities Act of 1933 (1933 Act), the Securities Exchange Act of 1934 (1934 Act), the Investment Company Act of 1940 (1940 Act), the Investment Advisers Act of 1940 (Advisers Act), state laws regarding securities fraud, and regulations or other rules, promulgated by various regulatory authorities, self-regulatory organizations or exchanges, as well as foreign laws, regulations or other rules promulgated by foreign regulatory or other authorities. In 2014, among other developments, the Securities and Exchange Commission (SEC) promulgated new money market reform rules (2014 Money Fund Rules). In 2015, among other developments, the SEC staff published the 2014 Money Market Fund Reform Frequently Asked Questions and Valuation Guidance Frequently Asked Questions (the Money Fund Rules Guidance). On May 20, 2015, the SEC proposed rules seeking to modernize investment company reporting requirements and to require investment advisers to maintain additional performance records and provide to clients additional borrowing and derivative information relating to Separate Accounts (which include separately managed accounts, institutional accounts, sub-advised funds and other managed products) . On September 22, 2015, the SEC proposed certain rule amendments under the 1940 Act that, if adopted as proposed, would require open-end mutual funds (other than money market funds) and exchange traded funds to have liquidity risk management programs that contain certain required elements. On December 11, 2015, the SEC proposed new rules that, if adopted as proposed, would enhance the regulation of the use of derivatives by investment companies. On April 6, 2016, the Department of Labor (DOL) released its final rule regarding the definition of "fiduciary" and conflicts of interest in connection with retirement investment advice (DOL Final Fiduciary Rule). On June 28, 2016, the SEC also proposed a rule that would require registered investment advisers to adopt and implement written business continuity and transition plans. Federated is analyzing the potential impact of these new rules. Federated also continues to evaluate the impact of the 2014 Money Fund Rules and Money Fund Rules Guidance on its money market products and strategies, product structuring and development initiatives and business. Internationally, among other developments, European money market fund reforms, similar in some respects to the U.S. reforms, continue to be considered but have not yet been finalized. Federated continues to dedicate internal and external resources to analyzing regulatory initiatives, and planning and implementing product development and restructuring initiatives in response to the 2014 Money Fund Rules and Money Fund Rules Guidance and other regulatory initiatives. See Management's Discussion and Analysis for additional information. Low Short-Term Interest Rates In December 2015, the Federal Open Market Committee of the Federal Reserve Board ( FOMC ) increased the federal funds target rate range by 25 basis points to 0.25%-0.50%, slightly raising short-term interest rates late in 2015 and into 2016. On June 15, 2016 and again on July 27, 2016, the FOMC announced that it had decided to maintain this target rate. The federal funds target rate, which drives short-term interest rates, had been close to zero for nearly seven years . As a result of the long-term near-zero interest-rate environment , the gross yield earned by certain money market funds is not sufficient to cover all of the fund's operating expenses. Since the fourth quarter of 2008, Federated has experienced Voluntary Yield-related Fee Waivers . These fee waivers have been partially offset by related reductions in distribution expense and net income attributable to noncontrolling interests as a result of Federated's mutual understanding and agreement with third-party intermediaries to share the impact of the Voluntary Yield-related Fee Waivers . These Voluntary Yield-related Fee Waivers are calculated as a percentage of assets under management (AUM or managed assets) in certain money market funds and thus will vary depending upon the asset levels in such funds. In addition, the level of waivers are dependent on several other factors including, but not limited to, yields on instruments available for purchase by the money market funds, changes in expenses of the money market funds and changes in the mix of money market assets. In any given period, a combination of these factors impacts the amount of Voluntary Yield-related Fee Waivers . As an isolated variable, an increase in yields on instruments held by the money market funds will cause the pre-tax impact of fee waivers to decrease. Conversely, as an isolated variable, an increase in expenses of the money market funds would cause the pre-tax impact of fee waivers to increase. With regard to asset mix, changes in the relative amount of money market fund assets in prime and government money market funds (or between such funds and other money market funds or other products) as well as the mix among certain share classes that vary in pricing structure will impact the level of fee waivers. Generally, prime money market funds waive less than government money market funds as a result of higher gross yields on the underlying investments. As such, as an isolated variable, an increase in the relative proportion of average managed assets invested in prime money market funds as compared to total average money market fund assets should typically result in lower Voluntary Yield-related Fee Waivers . The opposite would also be true. The impact of Voluntary Yield-related Fee Waivers on various components of Federated's Consolidated Statements of Income was as follows for the periods presented: Three Months Ended Six Months Ended June 30, June 30, (in millions) 2016 2015 2016 2015 Revenue $ (21.3 ) $ (84.2 ) $ (58.8 ) $ (178.3 ) Less: Reduction in Distribution expense 16.5 60.2 44.4 124.8 Operating income (4.8 ) (24.0 ) (14.4 ) (53.5 ) Less: (Increase)/Reduction in Noncontrolling interests (0.2 ) 1.8 0.0 4.3 Pre-tax impact $ (5.0 ) $ (22.2 ) $ (14.4 ) $ (49.2 ) The negative pre-tax impact of Voluntary Yield-related Fee Waivers decreased for the six-month period ended June 30, 2016 as compared to the same period in 2015 due primarily to higher yields on instruments held by the money market funds. The FOMC implied in its economic projections that it would continue to raise the federal funds target rate in a measured and gradual way, although the FOMC has reduced the forecasted pace of a rate increase for 2016 and 2017 and announced on June 15, 2016 and again on July 27, 2016, that it had decided to maintain the current target rate . Federated is unable to predict when, or to what extent, the FOMC will further increase its target for the federal funds rate. As such, Voluntary Yield-related Fee Waivers and the related reduction in distribution expense and net income attributable to noncontrolling interests could continue for the foreseeable future. See Management's Discussion and Analysis under the caption Business Developments - Low Short-Term Interest Rates for additional information on management's expectations regarding fee waivers. (b) Revenue Concentration by Customer Approximately 15% of Federated's total revenue for both the three - and six-month period s ended June 30, 2016 was derived from services provided to one intermediary customer, the Bank of New York Mellon Corporation, including its Pershing subsidiary. Significant changes in Federated's relationship with this customer could have a material adverse effect on Federated's future revenues and, to a lesser extent, net income due to related material distribution expenses associated with this intermediary. A listing of Federated’s risk factors is included in Federated’s Annual Report on Form 10-K for the year ended December 31, 2015 under Item 1A - Risk Factors.

Consolidation

Consolidation	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation	Consolidation The Consolidated Financial Statements include the accounts of Federated, Federated Funds and other entities in which Federated holds a controlling financial interest. Federated is involved with various entities in the normal course of business that may be deemed to be VREs or VIEs. From time to time, Federated invests in Federated Funds for general corporate investment purposes or, in the case of newly launched products, in order to provide investable cash to establish a performance history. Federated's investment in these Federated Funds represents its maximum exposure to loss. The assets of the consolidated Federated Funds are restricted for use by the respective Federated Fund . Generally, neither creditors nor equity investors in the Federated Funds have any recourse to Federated’s general credit. Given that the entities follow investment company accounting, which prescribes fair-value accounting, a deconsolidation generally does not result in gains or losses for Federated. Receivables from all Federated Funds for advisory and other services totaled $22.3 million and $16.9 million at June 30, 2016 and December 31, 2015 , respectively. In the ordinary course of business, Federated may choose to waive certain fees or assume operating expenses of the Federated Funds for competitive, regulatory or contractual reasons. For the three and six months ended June 30, 2016 , Federated waived fees, including Voluntary Yield-related Fee Waivers , totaling $102.2 million and $220.8 million , respectively, of which $74.3 million and $164.9 million , respectively, related to waivers for money market funds which meet the scope exception of ASU 2015-02. Like other sponsors of investment companies, Federated in the ordinary course of business may make capital contributions to certain Federated money market funds in connection with the reorganization of such funds into certain affiliated Federated money market funds or in connection with the liquidation of a fund. In these instances, such capital contributions typically are intended to either cover realized losses or other permanent impairments to a fund's NAV or increase the market-based NAV per share of the investment company's portfolio that is being reorganized to equal the market-based NAV per share of the acquiring fund. There were no material contributions for the three and six months ended June 30, 2016 . Under new money fund regulations, and SEC staff guidance issued in 2015, Federated is now required to report these types of capital contributions to the SEC as financial support to the investment company that is being reorganized or liquidated. In accordance with Federated’s consolidation accounting policy, Federated first determines whether the entity being evaluated is a VRE or a VIE. Once this determination is made, Federated proceeds with its evaluation of whether to consolidate the entity. The disclosures below represent the results of such evaluations pertaining to June 30, 2016 and December 31, 2015 . (a) Consolidated Voting Rights Entities Effective January 1, 2016, most of the Federated Funds now meet the definition of a VRE. Federated consolidates certain VREs when it is deemed to have control. As of June 30, 2016 , consolidated VREs included on Federated's Consolidated Balance Sheets included $12.1 million in Investments—consolidated investment companies and $1.9 million in Redeemable noncontrolling interest in subsidiaries . (b) Consolidated Variable Interest Entities As of June 30, 2016 and December 31, 2015 , Federated was deemed to be the primary beneficiary of and therefore consolidated several Federated Funds as a result of its controlling financial interest. Certain of the VIEs consolidated as of December 31, 2015 were deemed to be VREs upon adoption of ASU 2015-02 and have been excluded from the June 30, 2016 balances in the table below. See the Consolidated Voting Rights Entities section above for information on consolidated VREs as of June 30, 2016 . The following table presents the balances related to the consolidated Federated Fund VIEs that were included on the Consolidated Balance Sheets as well as Federated's net interest in the consolidated Federated Fund VIEs for each period presented: (in millions) June 30, 2016 December 31, 2015 Cash and cash equivalents $ 0.6 $ 3.1 Investments—consolidated investment companies 44.8 25.4 Receivables 1.5 0.2 Less: Liabilities 0.9 3.0 Less: Redeemable noncontrolling interest in subsidiaries 27.8 8.7 Federated's net interest in the consolidated Federated Fund VIEs $ 18.2 $ 17.0 Federated's net interest in the consolidated Federated Fund VIEs of $18.2 million and $17.0 million at June 30, 2016 and December 31, 2015 , respectively, represents the value of Federated's economic ownership interest in these Federated Funds . The liabilities of the consolidated Federated Fund VIEs primarily represent investments sold short and operating liabilities of the entities. The liabilities as of June 30, 2016 and December 31, 2015 are primarily classified as Accounts payable and accrued expenses and Other current liabilities , respectively, on Federated’s Consolidated Balance Sheets. In addition to the table above, Federated has a majority interest ( 50.5% ) and acts as the general partner in Passport Research Ltd. (Passport), a limited partnership. Edward D. Jones & Co., L.P. is the limited partner with a 49.5% interest. The partnership is an investment adviser to two sponsored funds and was deemed to be a VIE upon adoption of ASU 2015-02. Assets totaling $6.1 million primarily representing Cash and cash equivalents, liabilities totaling $3.4 million primarily representing operating liabilities and $1.3 million included in Nonredeemable noncontrolling interest in subsidiary are included on the Consolidated Balance Sheets as of June 30, 2016 . There was no change to the Consolidated Financial Statements as a result of the adoption of ASU 2015-02 as Passport had been consolidated as a VRE under the previous guidance. See Part II, Item 5 of Federated's Quarterly Report on Form 10-Q for the quarter ended March 31, 2016 for additional information related to this partnership. Other than those consolidated or deconsolidated upon the adoption of ASU 2015-02 (see Note (2) ), Federated did not newly consolidate any VIEs or deconsolidate any material VIEs during the six months ended June 30, 2016 . (c) Non-Consolidated Variable Interest Entities Federated's involvement with certain Federated Funds that are deemed to be VIEs includes serving as the investment manager, or at times, holding a minority interest or both. Federated’s variable interest is not deemed to absorb losses or receive benefits that could potentially be significant to the VIE. Therefore, Federated is not the primary beneficiary of these VIEs and has not consolidated these entities. At June 30, 2016 , Federated’s investment and maximum risk of loss related to a non-consolidated VIE was entirely related to a Federated Fund and totaled $1.1 million , which was recorded in Investments—affiliates on the Consolidated Balance Sheets. AUM for this non-consolidated Federated Fund totaled $13.4 million at June 30, 2016 . At December 31, 2015 , Federated’s investment and maximum risk of loss related to non-consolidated VIEs were entirely related to Federated Funds and totaled $301.5 million . Of this amount, $159.7 million represented investments in money market funds included in Cash and cash equivalents . The remaining $141.8 million is primarily recorded in Investments—affiliates on the Consolidated Balance Sheets as of December 31, 2015 . AUM for these non-consolidated Federated Funds totaled $268.0 billion at December 31, 2015 . Upon adoption of ASU 2015-02 effective January 1, 2016, certain of the non-consolidated VIEs included in the balances as of December 31, 2015 were deemed to be VREs or are money market funds which meet the scope exception and have been excluded from the June 30, 2016 balances above. See the Consolidated Voting Rights Entities section above for information on consolidated VREs as of June 30, 2016 .

Investments

Investments	6 Months Ended
	Jun. 30, 2016
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Investments on the Consolidated Balance Sheets as of June 30, 2016 and December 31, 2015 included available-for-sale and trading securities. At June 30, 2016 and December 31, 2015 , Federated held investments totaling $134.4 million and $141.7 million , respectively, in fluctuating-value sponsored mutual funds that were classified as available-for-sale securities and were included in Investments—affiliates on the Consolidated Balance Sheets. The decrease in Investments—affiliates primarily related to a newly consolidated VIE as a result of the adoption of ASU 2015-02 and is now recorded in Investments—consolidated investment companies . See Note (2) for additional information. Available-for-sale securities were as follows: June 30, 2016 December 31, 2015 Gross Unrealized Estimated Fair Gross Unrealized Estimated Fair (in thousands) Cost Gains (Losses) Value Cost Gains (Losses) Value Equity mutual funds $ 31,968 $ 491 $ (395 ) $ 32,064 $ 32,357 $ 342 $ (2,416 ) $ 30,283 Fixed-income mutual funds 104,003 132 (1,786 ) 102,349 115,396 109 (4,040 ) 111,465 Total fluctuating-value mutual funds $ 135,971 $ 623 $ (2,181 ) $ 134,413 $ 147,753 $ 451 $ (6,456 ) $ 141,748 As of June 30, 2016 , unrealized losses of $2.2 million related to investments with a fair value of $108.9 million . Of these, investments with a fair value of $107.7 million with unrealized losses of $2.1 million have been in a continuous unrealized loss position for 12 months or longer. As of December 31, 2015 , unrealized losses of $6.5 million related to investments with a fair value of $124.0 million . Of these, investments with a fair value of $92.6 million with unrealized losses of $5.5 million have been in a continuous unrealized loss position for 12 months or longer. Federated regularly reviews its investments for other-than-temporary impairment using both qualitative and quantitative criteria. This review considers management's ability and intent to hold the security, as well as the near-term prospects of the investment and the duration and severity of the unrealized loss. During the second quarter of 2016 , unrealized losses on two investments were deemed to be other-than-temporarily impaired. As a result, Federated recorded $1.6 million to (Loss) gain on securities, net to write down the carrying values of the investments. Management believes the remaining unrealized loss associated with Federated's available-for-sale securities as of June 30, 2016 will be recovered within the foreseeable future as management intends to hold these investments. Management does not believe these remaining investments are other-than-temporarily impaired. Federated’s trading securities totaled $64.2 million and $32.4 million at June 30, 2016 and December 31, 2015 , respectively. The increase in trading securities primarily related to the aforementioned newly consolidated VIE which was previously recorded in Investments—affiliates on the Consolidated Balance Sheets. See Note (2) for additional information. Federated consolidates certain Federated Funds into its Consolidated Financial Statements as a result of Federated’s controlling financial interest in the Federated Fund (see Note (5) ). All investments held by these Federated Funds were included in Investments—consolidated investment companies on Federated’s Consolidated Balance Sheets. Investments—other on the Consolidated Balance Sheets represented other trading investments held in Separate Accounts. Federated’s trading securities as of June 30, 2016 and December 31, 2015 , were primarily invested in domestic debt securities ( $44.6 million and $9.0 million , respectively), stocks of large U.S. and international companies ( $8.9 million and $10.5 million , respectively) and investments in Federated Funds and other mutual funds ( $8.8 million and $11.0 million , respectively). The following table presents gains and losses recognized in (Loss) gain on securities, net on the Consolidated Statements of Income in connection with Federated's investments as well as economic derivatives held by certain consolidated Federated Funds : Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2016 2015 2016 2015 Unrealized (loss) gain Trading securities $ 1,581 $ (832 ) $ 3,639 $ (376 ) Derivatives 1 (410 ) 58 (303 ) (100 ) Realized gains 2 Available-for-sale securities 3 26 0 26 0 Trading securities 460 326 672 516 Derivatives 1 149 61 555 296 Realized losses 2 Available-for-sale securities 3 (1,628 ) 0 (1,645 ) 0 Trading securities (481 ) (417 ) (1,775 ) (1,031 ) Derivatives 1 (266 ) (176 ) (647 ) (539 ) (Loss) gain on securities, net 4 $ (569 ) $ (980 ) $ 522 $ (1,234 ) 1 Amounts related to the settlement of economic derivatives held by certain consolidated Federated Funds . 2 Realized gains and losses are computed on a specific-identification basis. 3 Proceeds from redemptions of available-for-sale securities were $0.1 million and $0.2 million for the three and six months ended June 30, 2016 . 4 Amounts related to consolidated entities, primarily Federated Funds , totaled $0.9 million and $1.9 million for the three and six months ended June 30, 2016 , respectively, and $(0.8) million and $(1.1) million for the three and six months ended June 30, 2015 , respectively.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is the price that would be received to sell an asset or the price paid to transfer a liability as of the measurement date. A fair-value reporting hierarchy exists for disclosure of fair value measurements based on the observability of the inputs to the valuation of financial assets and liabilities. The levels are: Level 1 – Quoted prices for identical instruments in active markets. Level 1 assets may include equity and debt securities that are traded in an active exchange market, including shares of mutual funds. Level 2 – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. Level 2 assets and liabilities may include debt and equity securities, purchased loans and over-the-counter derivative contracts whose fair value is determined using a pricing model without significant unobservable market data inputs. Level 3 – Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable in active markets. NAV practical expedient – Investments that calculate NAV per share (or its equivalent) as a practical expedient. These investments have been excluded from the fair value hierarchy. (a) Fair Value Measurements on a Recurring Basis The following table presents fair value measurements for classes of Federated’s financial assets and liabilities measured at fair value on a recurring basis: (in thousands) Level 1 Level 2 Level 3 NAV Practical Expedient 3 Total June 30, 2016 Financial Assets Cash and cash equivalents $ 153,860 $ 0 $ 0 $ 0 $ 153,860 Available-for-sale equity securities 108,959 0 0 25,454 134,413 Trading securities—equity 13,443 625 0 5,548 19,616 Trading securities—debt 0 44,562 0 0 44,562 Other 1 7 0 910 0 917 Total financial assets $ 276,269 $ 45,187 $ 910 $ 31,002 $ 353,368 Total financial liabilities 2 $ 66 $ 267 $ 2,229 $ 0 $ 2,562 December 31, 2015 3 Financial Assets Cash and cash equivalents $ 172,628 $ 0 $ 0 $ 0 $ 172,628 Available-for-sale equity securities 117,422 0 0 24,326 141,748 Trading securities—equity 15,900 65 0 7,433 23,398 Trading securities—debt 0 9,041 0 0 9,041 Other 1 4 17 910 0 931 Total financial assets $ 305,954 $ 9,123 $ 910 $ 31,759 $ 347,746 Total financial liabilities 2 $ 2,681 $ 59 $ 2,630 $ 0 $ 5,370 1 Amounts include structured trade finance loans held by Federated as well as futures contracts and/or foreign currency forward contracts held within certain consolidated Federated Funds . 2 Amounts include acquisition-related future consideration liabilities and may include investments sold short, foreign currency forward contracts and/or futures contracts held within certain consolidated Federated Funds , as well as certain liabilities attributable to structured trade finance loans held by Federated. 3 Investments that calculate NAV as a practical expedient were recategorized and are no longer included within Level 2 of the valuation hierarchy as of December 31, 2015 (see Note (2) for additional information). The following is a description of the valuation methodologies used for financial assets and liabilities measured at fair value on a recurring basis. Federated did not hold any nonfinancial assets or liabilities measured at fair value on a recurring basis at June 30, 2016 or December 31, 2015 . Cash and cash equivalents Cash and cash equivalents include investments in money market funds and deposits with banks. Investments in Federated money market funds totaled $146.8 million and $162.2 million at June 30, 2016 and December 31, 2015 , respectively. Cash investments in money market funds are valued under the market approach through the use of quoted market prices in an active market, which is the NAV of the funds, and are classified within Level 1 of the valuation hierarchy. Available-for-sale equity securities Available-for-sale equity securities include investments in sponsored fluctuating-value mutual funds and are included in Investments—affiliates on the Consolidated Balance Sheets. For investments in mutual funds that are publicly available, the securities are valued under the market approach through the use of quoted market prices available in an active market, which is the NAV of the funds, and are classified within Level 1 of the valuation hierarchy. For certain investments in funds that are not publicly available but for which the NAV is calculated daily and for which there are no redemption restrictions, the securities are valued using NAV as a practical expedient and are excluded from the fair value hierarchy. These investments are included in the NAV practical expedient column in the table above. Trading securities—equity Trading securities - equity primarily represent the equity securities held by consolidated Federated Funds (included in Investments—consolidated investment companies on the Consolidated Balance Sheets) as well as certain equity investments held in Separate Accounts (included in Investments—other on the Consolidated Balance Sheets). For publicly traded equity securities available in an active market, the fair value of these securities is classified as Level 1 when the fair value is based on unadjusted quoted market prices. The fair value of certain equity securities traded principally in foreign markets and held by consolidated Federated Funds are determined by a third party pricing service (Level 2). For certain investments in funds that are not publicly available but for which the NAV is calculated daily and for which there are no redemption restrictions, the investments are valued using NAV as a practical expedient and are excluded from the fair value hierarchy. These investments are included in the NAV practical expedient column in the table above. Trading securities—debt Trading securities - debt primarily represent domestic bonds held by consolidated Federated Funds . The fair value of these securities may include observable market data such as valuations provided by independent pricing services after considering factors such as the yields or prices of investments of comparable quality, coupon, maturity, call rights and other potential prepayments, terms and type, reported transactions, indications as to values from dealers and general market conditions (Level 2). (b) Fair Value Measurements on a Nonrecurring Basis Federated did not hold any assets or liabilities measured at fair value on a nonrecurring basis at June 30, 2016 . (c) Fair Value Measurements of Other Financial Instruments The fair value of Federated’s debt is estimated by management based upon expected future cash flows utilizing a discounted cash flow methodology under the income approach. The fair value of the liability is estimated using observable market data (Level 2) in estimating inputs including the discount rate. Based on this fair value estimate, the carrying value of debt appearing on the Consolidated Balance Sheets approximates fair value.

Debt

Debt	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Debt Disclosure	Debt Debt consisted of the following: Interest Rates June 30, December 31, (dollars in thousands) 2016 2015 June 30, 2016 December 31, 2015 Term Loan 1.585% 1.555% $ 204,000 $ 216,750 Less: Short-term debt 25,500 25,500 Long-term debt $ 178,500 $ 191,250 On June 24, 2014, Federated entered into an unsecured Second Amended and Restated Credit Agreement by and among Federated, certain of its subsidiaries as guarantors party thereto, a syndicate of 13 banks as Lenders party thereto led by PNC Bank, National Association as administrative agent, PNC Capital Markets LLC as sole bookrunner and joint lead arranger, Citigroup Global Markets, Inc. as joint lead arranger, Citibank, N.A. as syndication agent, and TD Bank, N.A. as documentation agent (Credit Agreement). The Credit Agreement amended and restated Federated's prior unsecured Amended and Restated Credit Agreement, which was dated June 10, 2011 and scheduled to mature on June 10, 2016 (Prior Credit Agreement). The borrowings under the Credit Agreement's term loan facility of $255 million (Term Loan) equaled the remaining principal balance from the Prior Credit Agreement's term loan facility. The Term Loan facility bears interest based on the London Interbank Offering Rate (LIBOR) plus a spread, currently 112.5 basis points. The Credit Agreement qualified for modification accounting treatment. The Credit Agreement also refinanced the $200 million revolving credit facility under the Prior Credit Agreement. Federated had no borrowings outstanding on the previous revolving credit facility at the time of refinancing. As of June 30, 2016 , the entire $200 million revolving credit facility was available for borrowings. Similar to the Prior Credit Agreement, certain subsidiaries entered into an Amended and Restated Continuing Agreement of Guaranty and Suretyship whereby these subsidiaries guarantee payment of all obligations incurred through the Credit Agreement. Federated pays an annual facility fee, currently 12.5 basis points. Borrowings under the Credit Agreement's revolving credit facility bear interest at LIBOR plus a spread, currently 100 basis points. The Credit Agreement matures on June 24, 2019 and, with respect to the Term Loan, requires quarterly principal payments totaling $25.5 million in each of the years 2016 and 2017 , $55.8 million in 2018 and $110.0 million in 2019 . During the six months ended June 30, 2016 , Federated repaid $12.8 million of its borrowings on the Term Loan. The Credit Agreement includes representations and warranties, affirmative and negative financial covenants, including an interest coverage ratio covenant and a leverage ratio covenant, reporting requirements and other non-financial covenants. Federated was in compliance with all covenants at and during the six months ended June 30, 2016 (see the Liquidity and Capital Resources section of Management's Discussion and Analysis for additional information). The Credit Agreement also has certain stated events of default and cross default provisions which would permit the lenders/counterparties to accelerate the repayment of the debt if not cured within the applicable grace periods. The events of default generally include breaches of contract, failure to make required loan payments, insolvency, cessation of business, deterioration in credit rating to below investment grade, notice of lien or assessment, and other proceedings, whether voluntary or involuntary, that would require the repayment of amounts borrowed.

Share-Based Compensation Plans

Share-Based Compensation Plans	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation Plans	Share-Based Compensation Plans (a) Restricted Stock During the first six months of 2016 , Federated awarded 514,660 shares of restricted Federated Class B common stock, nearly all of which was granted in connection with a bonus program in which certain key employees received a portion of their bonus in the form of restricted stock under Federated’s Stock Incentive Plan. This restricted stock, which was granted on the bonus payment date and issued out of treasury, will generally vest over a three -year period. Federated awarded 863,137 shares of restricted Federated Class B common stock under its Stock Incentive Plan during 2015 . Of this amount, 373,137 shares were awarded in connection with the aforementioned bonus program in 2015 . The remaining shares were awarded to certain key employees and generally vest over a ten -year period. (b) Stock Options During the six months ended June 30, 2016 , there were no stock options exercised or granted. During the year ended December 31, 2015 , there were 3,000 stock options exercised and no stock options granted. (c) Non-Management Director Stock Award Federated awarded 5,700 shares of Federated Class B common stock to non-management directors during each of the second quarters of 2016 and 2015 . There were no additional awards to non-management directors in 2016 or 2015.

Equity

Equity	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Equity	Equity In February 2015 , the board of directors authorized a share repurchase program that allows Federated to buy back up to 4 million shares of Federated Class B common stock with no stated expiration date. The program authorizes executive management to determine the timing and the amount of shares for each purchase. The repurchased stock is held in treasury for employee share-based compensation plans, potential acquisitions and other corporate activities. During the first six months of 2016 , Federated repurchased 1.4 million shares of Class B common stock for $41.0 million ( $5.8 million of which was accrued in Other current liabilities as of June 30, 2016 ), nearly all of which were repurchased in the open market. The remaining repurchased shares represent restricted stock forfeited by employees and are not counted against the board-approved share repurchase program. At June 30, 2016 , 1.3 million shares remained available to be purchased under Federated's buyback program.

Earnings Per Share Attributable

Earnings Per Share Attributable to Federated Investors, Inc. Shareholders	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share Attributable to Federated Investors, Inc. Shareholders	Earnings Per Share Attributable to Federated Investors, Inc. Shareholders The following table sets forth the computation of basic and diluted earnings per share using the two-class method for amounts attributable to Federated: Three Months Ended Six Months Ended June 30, June 30, (in thousands, except per share data) 2016 2015 2016 2015 Numerator – Basic and Diluted Net income attributable to Federated Investors, Inc. $ 52,709 $ 41,759 $ 98,152 $ 78,066 Less: Total income available to participating unvested restricted shareholders 1 (2,118 ) (1,661 ) (3,947 ) (3,141 ) Total net income attributable to Federated Common Stock 2 $ 50,591 $ 40,098 $ 94,205 $ 74,925 Denominator Basic weighted-average common shares outstanding 99,592 100,732 99,697 100,686 Dilutive potential shares from stock options 1 2 1 2 Diluted weighted-average common shares outstanding 99,593 100,734 99,698 100,688 Earnings per share Net income attributable to Federated Common Stock – Basic and Diluted 2 $ 0.51 $ 0.40 $ 0.94 $ 0.74 1 Income available to participating unvested restricted shareholders includes dividends paid on unvested restricted shares and their proportionate share of undistributed earnings. 2 Federated Common Stock excludes unvested restricted stock which are deemed participating securities in accordance with the two-class method of computing earnings per share.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies (a) Contractual Federated may be required to make certain compensation-related payments through 2019 in connection with various significant employment and incentive arrangements. Based on asset levels as of June 30, 2016 and performance goals, payments could total up to $31 million over the remaining terms of these arrangements. (b) Guarantees and Indemnifications On an intercompany basis, various wholly owned subsidiaries of Federated guarantee certain financial obligations of Federated Investors, Inc., and Federated Investors, Inc. guarantees certain financial and performance-related obligations of various wholly owned subsidiaries. In addition, in the normal course of business, Federated has entered into contracts that provide a variety of indemnifications. Typically, obligations to indemnify third parties arise in the context of contracts entered into by Federated, under which Federated agrees to hold the other party harmless against losses arising out of the contract, provided the other party's actions are not deemed to have breached an agreed upon standard of care. In each of these circumstances, payment by Federated is contingent on the other party making a claim for indemnity, subject to Federated's right to challenge the other party's claim. Further, Federated's obligations under these agreements may be limited in terms of time and/or amount. It is not possible to predict the maximum potential amount of future payments under these or similar agreements due to the conditional nature of Federated's obligations and the unique facts and circumstances involved in each particular agreement. As of June 30, 2016 , management does not believe that a material loss related to any of these matters is reasonably possible. (c) Legal Proceedings CCM Rochester, Inc. (CCM) . In December 2008, Federated completed the acquisition of certain assets of CCM (f/k/a Clover Capital Management, Inc.), an investment manager that specialized in value investing. The purchase was consummated in the midst of the financial crisis. The payment terms under the Asset Purchase Agreement, dated September 12, 2008 (APA), included an upfront payment of $30 million paid by Federated Investors, Inc. at closing and the opportunity for contingent payments over a five year earn-out period following the acquisition date based on the growth in revenue associated with the acquired assets. Under the APA, in order to reach the maximum contingent payments totaling approximately $55 million , the revenue associated with the acquired assets would have had to have grown at a 30% compound annual growth rate. Under the APA, Federated Investors, Inc. paid CCM an additional $18 million , in the aggregate, in contingent payments for the last three years of the earn-out period. On May 20, 2014, shortly after the final contingent payment was paid to CCM, Federated Investors, Inc. was named as the defendant in a case filed by CCM in the U.S. District Court for the Southern District of New York (CCM Rochester, Inc., f/k/a Clover Capital Management, Inc. v. Federated Investors, Inc., Case No. 14-cv-3600 (S.D.N.Y.)). In this lawsuit, CCM has asserted claims against Federated Investors, Inc. for fraudulent inducement, breach of contract (including CCM’s allegations relating to implied duties of best efforts and good faith and fair dealing) and indemnification based on Federated’s alleged failure to effectively market and distribute the investment products associated with the acquired assets and to pay CCM the maximum contingent payments. CCM seeks approximately $37 million in alleged damages plus attorneys’ fees from Federated Investors, Inc. Federated filed a Motion to Dismiss the lawsuit on the basis that, among other reasons, CCM's claims are implausible, have no factual support, and are contrary to the express terms of the APA and to settled law. On November 25, 2014, the Court issued an order granting Federated's Motion to Dismiss in part and denying Federated's Motion to Dismiss in part. The Court dismissed CCM's claim for breach of contract and for breach of an implied obligation to use best efforts. Under the strict standards applicable to Motions to Dismiss that require the Court to accept the allegations of the Complaint as true and draw all inferences in CCM's favor, the Court concluded that CCM's "claim of fraud is at the edge of plausibility" but specifically noted that "[w]hether CCM can successfully prove facts necessary to support that artfully-pled theory remains to be seen." Federated continues to believe that CCM's claims are meritless and without factual support and intends to continue to vigorously defend this lawsuit as it proceeds through summary judgment. Fact discovery and expert discovery have concluded. Briefing also has been concluded on an evidentiary motion filed by Federated seeking to exclude expert testimony presented by CCM. On June 9, 2016, following oral argument, the Court granted Federated's evidentiary motion, ruling CCM's expert reports and testimony inadmissible. Federated submitted a motion for summary judgment on July 15, 2016, seeking to have the Court rule in Federated’s favor as a matter of law. Briefing on Federated's summary judgment motion is scheduled to conclude on September 16, 2016. Federated continues to believe that at all times it acted in good faith and complied with its contractual obligations contained in the APA. As of June 30, 2016 , Federated believes a material loss related to this lawsuit is remote, and as such, does not believe this pending lawsuit is material to Federated or its Consolidated Financial Statements. Based on this assessment of the status and nature of CCM's claims, and the current stage of the lawsuit, no loss is estimable. SEC Matter . On May 27, 2016, Federated Global Investment Management Corp. (Fed Global), an indirect wholly owned subsidiary of Federated and an investment adviser registered under the Investment Advisers Act of 1940 (Advisers Act), consented to the entry of an Order Instituting Administrative and Cease and Desist Proceedings (Order) in settlement of an Administrative Proceeding, In the Matter of Federated Global Investment Management Corp. , Administrative Proceeding File No.3-17264, instituted by the SEC pursuant to Sections 203(e) and 203(k) of the Advisers Act. Fed Global consented to the Order without admitting or denying any findings contained in the Order, except as to the SEC's jurisdiction over Fed Global and the subject matter of the proceedings. The proceeding related to the period from approximately 2001 to 2010. Although Fed Global maintained extensive written policies and procedures and trained its personnel to prevent the misuse of material nonpublic information by employees, the Order stated that these policies and procedures were not reasonably designed to prevent the misuse of material nonpublic information with respect to the use of an outside consultant as part of its securities research and analysis activities. There was no finding of any misuse of material nonpublic information. As a result, Fed Global was found to have violated Section 204A of the Advisers Act (Section 204A). The Order noted that Fed Global took remedial action regarding its use of the outside consultant, including, among other things, terminating its agreement with the outside consultant in May 2010, prior to notification by the SEC staff of any investigation into this matter. Pursuant to the Order, Fed Global must cease and desist from committing or causing any violations and any future violations of Section 204A, Fed Global was censured, and Fed Global paid a civil money penalty in the amount of $1.5 million . The Order concludes the SEC's inquiry into this matter. Given the time period involved, that there was no finding of misuse of material nonpublic information, the corrective measures implemented in 2010, and the amount of the civil money penalty, Federated does not consider the Order material to Federated or its Consolidated Financial Statements. Other Litigation . Federated also has claims asserted and threatened against it in the ordinary course of business. As of June 30, 2016 , Federated does not believe that a material loss related to these claims is reasonably possible. See Item 1A - Risk Factors included in Federated's Annual Report on Form 10-K for the year ended December 31, 2015 for additional information regarding risks related to claims asserted or threatened against Federated.

Accumulated Other Comprehensive

Accumulated Other Comprehensive (Loss) Income Attributable to Federated Investors, Inc. Shareholders	6 Months Ended
	Jun. 30, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive (Loss) Income attributable to Federated Investors, Inc. Shareholders	Accumulated Other Comprehensive Loss Attributable to Federated Investors, Inc. Shareholders The components of Accumulated other comprehensive loss, net of tax attributable to Federated shareholders are as follows: (in thousands) Unrealized Loss on Interest Rate Swap 1 Unrealized Loss on Securities Available for Sale 2 Foreign Currency Translation Loss Total Balance at December 31, 2014 $ (269 ) $ (1,126 ) $ (267 ) $ (1,662 ) Other comprehensive income (loss) before reclassifications and tax 67 614 (273 ) 408 Tax impact (25 ) (226 ) 95 (156 ) Reclassification adjustments, before tax 358 0 0 358 Tax impact (131 ) 0 0 (131 ) Net current-period other comprehensive income (loss) 269 388 (178 ) 479 Balance at June 30, 2015 $ 0 $ (738 ) $ (445 ) $ (1,183 ) Balance at December 31, 2015 $ 0 $ (3,795 ) $ (814 ) $ (4,609 ) Other comprehensive income (loss) before reclassifications and tax 0 1,549 (424 ) 1,125 Tax impact 0 (564 ) 148 (416 ) Reclassification adjustments, before tax 3 0 2,898 0 2,898 Tax impact 3 0 (1,054 ) 0 (1,054 ) Net current-period other comprehensive income (loss) 0 2,829 (276 ) 2,553 Balance at June 30, 2016 $ 0 $ (966 ) $ (1,090 ) $ (2,056 ) 1 Federated entered into an interest rate swap in 2010 to hedge its interest-rate risk associated with its original term loan facility. The interest rate swap expired on April 1, 2015. Amounts reclassified from Accumulated other comprehensive loss, net of tax were recorded in Debt expense on the Consolidated Statements of Income. 2 Other than as described in note 3 below, amounts reclassified from Accumulated other comprehensive loss, net of tax were recorded in (Loss) gain on securities, net on the Consolidated Statements of Income. 3 Amount includes reclassification of $0.8 million , net of tax from Accumulated other comprehensive loss, net of tax to Retained earnings on the Consolidated Balance Sheets as a result of the adoption of ASU 2015-02 (see Note (2) for additional information).

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On July 28, 2016 , the board of directors declared a $0.25 per share dividend to shareholders of record as of August 8, 2016 to be paid on August 15, 2016 .

Concentration Risk (Tables)

Concentration Risk (Tables)	6 Months Ended
	Jun. 30, 2016
Risks and Uncertainties [Abstract]
Schedule of Revenue Concentration	The following table summarizes the percentage of total revenue earned from Federated's asset classes for the periods presented: Six Months Ended June 30, 2016 2015 Money market assets 47 % 31 % Equity assets 37 % 47 % Fixed-income assets 16 % 22 %
Voluntary Fee Waivers	The impact of Voluntary Yield-related Fee Waivers on various components of Federated's Consolidated Statements of Income was as follows for the periods presented: Three Months Ended Six Months Ended June 30, June 30, (in millions) 2016 2015 2016 2015 Revenue $ (21.3 ) $ (84.2 ) $ (58.8 ) $ (178.3 ) Less: Reduction in Distribution expense 16.5 60.2 44.4 124.8 Operating income (4.8 ) (24.0 ) (14.4 ) (53.5 ) Less: (Increase)/Reduction in Noncontrolling interests (0.2 ) 1.8 0.0 4.3 Pre-tax impact $ (5.0 ) $ (22.2 ) $ (14.4 ) $ (49.2 )

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	6 Months Ended
	Jun. 30, 2016
Variable Interest Entities [Abstract]
Consolidated Federated Funds VIEs	The following table presents the balances related to the consolidated Federated Fund VIEs that were included on the Consolidated Balance Sheets as well as Federated's net interest in the consolidated Federated Fund VIEs for each period presented: (in millions) June 30, 2016 December 31, 2015 Cash and cash equivalents $ 0.6 $ 3.1 Investments—consolidated investment companies 44.8 25.4 Receivables 1.5 0.2 Less: Liabilities 0.9 3.0 Less: Redeemable noncontrolling interest in subsidiaries 27.8 8.7 Federated's net interest in the consolidated Federated Fund VIEs $ 18.2 $ 17.0

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2016
Investments, Debt and Equity Securities [Abstract]
Available-For-Sale Securities	Available-for-sale securities were as follows: June 30, 2016 December 31, 2015 Gross Unrealized Estimated Fair Gross Unrealized Estimated Fair (in thousands) Cost Gains (Losses) Value Cost Gains (Losses) Value Equity mutual funds $ 31,968 $ 491 $ (395 ) $ 32,064 $ 32,357 $ 342 $ (2,416 ) $ 30,283 Fixed-income mutual funds 104,003 132 (1,786 ) 102,349 115,396 109 (4,040 ) 111,465 Total fluctuating-value mutual funds $ 135,971 $ 623 $ (2,181 ) $ 134,413 $ 147,753 $ 451 $ (6,456 ) $ 141,748
Gains and losses on investments	The following table presents gains and losses recognized in (Loss) gain on securities, net on the Consolidated Statements of Income in connection with Federated's investments as well as economic derivatives held by certain consolidated Federated Funds : Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2016 2015 2016 2015 Unrealized (loss) gain Trading securities $ 1,581 $ (832 ) $ 3,639 $ (376 ) Derivatives 1 (410 ) 58 (303 ) (100 ) Realized gains 2 Available-for-sale securities 3 26 0 26 0 Trading securities 460 326 672 516 Derivatives 1 149 61 555 296 Realized losses 2 Available-for-sale securities 3 (1,628 ) 0 (1,645 ) 0 Trading securities (481 ) (417 ) (1,775 ) (1,031 ) Derivatives 1 (266 ) (176 ) (647 ) (539 ) (Loss) gain on securities, net 4 $ (569 ) $ (980 ) $ 522 $ (1,234 ) 1 Amounts related to the settlement of economic derivatives held by certain consolidated Federated Funds . 2 Realized gains and losses are computed on a specific-identification basis. 3 Proceeds from redemptions of available-for-sale securities were $0.1 million and $0.2 million for the three and six months ended June 30, 2016 . 4 Amounts related to consolidated entities, primarily Federated Funds , totaled $0.9 million and $1.9 million for the three and six months ended June 30, 2016 , respectively, and $(0.8) million and $(1.1) million for the three and six months ended June 30, 2015 , respectively.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Classes of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	The following table presents fair value measurements for classes of Federated’s financial assets and liabilities measured at fair value on a recurring basis: (in thousands) Level 1 Level 2 Level 3 NAV Practical Expedient 3 Total June 30, 2016 Financial Assets Cash and cash equivalents $ 153,860 $ 0 $ 0 $ 0 $ 153,860 Available-for-sale equity securities 108,959 0 0 25,454 134,413 Trading securities—equity 13,443 625 0 5,548 19,616 Trading securities—debt 0 44,562 0 0 44,562 Other 1 7 0 910 0 917 Total financial assets $ 276,269 $ 45,187 $ 910 $ 31,002 $ 353,368 Total financial liabilities 2 $ 66 $ 267 $ 2,229 $ 0 $ 2,562 December 31, 2015 3 Financial Assets Cash and cash equivalents $ 172,628 $ 0 $ 0 $ 0 $ 172,628 Available-for-sale equity securities 117,422 0 0 24,326 141,748 Trading securities—equity 15,900 65 0 7,433 23,398 Trading securities—debt 0 9,041 0 0 9,041 Other 1 4 17 910 0 931 Total financial assets $ 305,954 $ 9,123 $ 910 $ 31,759 $ 347,746 Total financial liabilities 2 $ 2,681 $ 59 $ 2,630 $ 0 $ 5,370 1 Amounts include structured trade finance loans held by Federated as well as futures contracts and/or foreign currency forward contracts held within certain consolidated Federated Funds . 2 Amounts include acquisition-related future consideration liabilities and may include investments sold short, foreign currency forward contracts and/or futures contracts held within certain consolidated Federated Funds , as well as certain liabilities attributable to structured trade finance loans held by Federated. 3 Investments that calculate NAV as a practical expedient were recategorized and are no longer included within Level 2 of the valuation hierarchy as of December 31, 2015 (see Note (2) for additional information).

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Debt	Debt consisted of the following: Interest Rates June 30, December 31, (dollars in thousands) 2016 2015 June 30, 2016 December 31, 2015 Term Loan 1.585% 1.555% $ 204,000 $ 216,750 Less: Short-term debt 25,500 25,500 Long-term debt $ 178,500 $ 191,250

Earnings Per Share Attributab27

Earnings Per Share Attributable to Federated Investors, Inc. Shareholders (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share using the two-class method for amounts attributable to Federated: Three Months Ended Six Months Ended June 30, June 30, (in thousands, except per share data) 2016 2015 2016 2015 Numerator – Basic and Diluted Net income attributable to Federated Investors, Inc. $ 52,709 $ 41,759 $ 98,152 $ 78,066 Less: Total income available to participating unvested restricted shareholders 1 (2,118 ) (1,661 ) (3,947 ) (3,141 ) Total net income attributable to Federated Common Stock 2 $ 50,591 $ 40,098 $ 94,205 $ 74,925 Denominator Basic weighted-average common shares outstanding 99,592 100,732 99,697 100,686 Dilutive potential shares from stock options 1 2 1 2 Diluted weighted-average common shares outstanding 99,593 100,734 99,698 100,688 Earnings per share Net income attributable to Federated Common Stock – Basic and Diluted 2 $ 0.51 $ 0.40 $ 0.94 $ 0.74 1 Income available to participating unvested restricted shareholders includes dividends paid on unvested restricted shares and their proportionate share of undistributed earnings. 2 Federated Common Stock excludes unvested restricted stock which are deemed participating securities in accordance with the two-class method of computing earnings per share.
Schedule of Earnings Per Share, Basic, by Common Class, Including Two Class Method [Table Text Block]	The following table sets forth the computation of basic and diluted earnings per share using the two-class method for amounts attributable to Federated: Three Months Ended Six Months Ended June 30, June 30, (in thousands, except per share data) 2016 2015 2016 2015 Numerator – Basic and Diluted Net income attributable to Federated Investors, Inc. $ 52,709 $ 41,759 $ 98,152 $ 78,066 Less: Total income available to participating unvested restricted shareholders 1 (2,118 ) (1,661 ) (3,947 ) (3,141 ) Total net income attributable to Federated Common Stock 2 $ 50,591 $ 40,098 $ 94,205 $ 74,925 Denominator Basic weighted-average common shares outstanding 99,592 100,732 99,697 100,686 Dilutive potential shares from stock options 1 2 1 2 Diluted weighted-average common shares outstanding 99,593 100,734 99,698 100,688 Earnings per share Net income attributable to Federated Common Stock – Basic and Diluted 2 $ 0.51 $ 0.40 $ 0.94 $ 0.74 1 Income available to participating unvested restricted shareholders includes dividends paid on unvested restricted shares and their proportionate share of undistributed earnings. 2 Federated Common Stock excludes unvested restricted stock which are deemed participating securities in accordance with the two-class method of computing earnings per share.
Schedule of Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Table Text Block]	The following table sets forth the computation of basic and diluted earnings per share using the two-class method for amounts attributable to Federated: Three Months Ended Six Months Ended June 30, June 30, (in thousands, except per share data) 2016 2015 2016 2015 Numerator – Basic and Diluted Net income attributable to Federated Investors, Inc. $ 52,709 $ 41,759 $ 98,152 $ 78,066 Less: Total income available to participating unvested restricted shareholders 1 (2,118 ) (1,661 ) (3,947 ) (3,141 ) Total net income attributable to Federated Common Stock 2 $ 50,591 $ 40,098 $ 94,205 $ 74,925 Denominator Basic weighted-average common shares outstanding 99,592 100,732 99,697 100,686 Dilutive potential shares from stock options 1 2 1 2 Diluted weighted-average common shares outstanding 99,593 100,734 99,698 100,688 Earnings per share Net income attributable to Federated Common Stock – Basic and Diluted 2 $ 0.51 $ 0.40 $ 0.94 $ 0.74 1 Income available to participating unvested restricted shareholders includes dividends paid on unvested restricted shares and their proportionate share of undistributed earnings. 2 Federated Common Stock excludes unvested restricted stock which are deemed participating securities in accordance with the two-class method of computing earnings per share.

Accumulated Other Comprehensi28

Accumulated Other Comprehensive (Loss) Income Attributable to Federated Investors, Inc. Shareholders (Tables)	6 Months Ended
	Jun. 30, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive (Loss) Income	The components of Accumulated other comprehensive loss, net of tax attributable to Federated shareholders are as follows: (in thousands) Unrealized Loss on Interest Rate Swap 1 Unrealized Loss on Securities Available for Sale 2 Foreign Currency Translation Loss Total Balance at December 31, 2014 $ (269 ) $ (1,126 ) $ (267 ) $ (1,662 ) Other comprehensive income (loss) before reclassifications and tax 67 614 (273 ) 408 Tax impact (25 ) (226 ) 95 (156 ) Reclassification adjustments, before tax 358 0 0 358 Tax impact (131 ) 0 0 (131 ) Net current-period other comprehensive income (loss) 269 388 (178 ) 479 Balance at June 30, 2015 $ 0 $ (738 ) $ (445 ) $ (1,183 ) Balance at December 31, 2015 $ 0 $ (3,795 ) $ (814 ) $ (4,609 ) Other comprehensive income (loss) before reclassifications and tax 0 1,549 (424 ) 1,125 Tax impact 0 (564 ) 148 (416 ) Reclassification adjustments, before tax 3 0 2,898 0 2,898 Tax impact 3 0 (1,054 ) 0 (1,054 ) Net current-period other comprehensive income (loss) 0 2,829 (276 ) 2,553 Balance at June 30, 2016 $ 0 $ (966 ) $ (1,090 ) $ (2,056 ) 1 Federated entered into an interest rate swap in 2010 to hedge its interest-rate risk associated with its original term loan facility. The interest rate swap expired on April 1, 2015. Amounts reclassified from Accumulated other comprehensive loss, net of tax were recorded in Debt expense on the Consolidated Statements of Income. 2 Other than as described in note 3 below, amounts reclassified from Accumulated other comprehensive loss, net of tax were recorded in (Loss) gain on securities, net on the Consolidated Statements of Income. 3 Amount includes reclassification of $0.8 million , net of tax from Accumulated other comprehensive loss, net of tax to Retained earnings on the Consolidated Balance Sheets as a result of the adoption of ASU 2015-02 (see Note (2) for additional information).

Recent Accounting Pronounceme29

Recent Accounting Pronouncements Recent Accounting Pronouncements Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Jan. 01, 2016	Dec. 31, 2015
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Investments—affiliates	$ 134,413		$ 134,413			$ 141,748
Redeemable noncontrolling interest in subsidiaries	29,670		29,670			8,734
Total investments using NAV Practical Expedient	31,002		31,002			31,759	[1]
Income tax provision	31,335	$ 26,437	58,531	$ 48,561
Accounting Standards Update 2016-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Income tax provision	(200)		(400)
Retained Earnings [Member] | Accounting Standards Update 2015-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification adjustment relating to adoption of new accounting pronouncements					$ (831)
Retained Earnings [Member] | Accounting Standards Update 2016-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification adjustment relating to adoption of new accounting pronouncements					(100)
Common Stock [Member] | Accounting Standards Update 2016-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification adjustment relating to adoption of new accounting pronouncements					100
Accumulated Other Comprehensive Loss, Net of Tax [Member] | Accounting Standards Update 2015-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification adjustment relating to adoption of new accounting pronouncements					831
Variable Interest Entity, Primary Beneficiary, Aggregated Disclosure [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Liabilities	$ 900		$ 900			3,000
Variable Interest Entity, Primary Beneficiary, Aggregated Disclosure [Member] | Accounting Standards Update 2015-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Consolidated assets, investment companies					29,400
Investments—affiliates						$ 11,500
Liabilities					200
Redeemable noncontrolling interest in subsidiaries					17,700
Variable Interest Entity, Not Primary Beneficiary [Member] | Accounting Standards Update 2015-02 [Member] | Deconsolidation [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Consolidated assets, investment companies					5,500
Liabilities					2,700
Redeemable noncontrolling interest in subsidiaries					$ 2,800
[1]	Investments that calculate NAV as a practical expedient were recategorized and are no longer included within Level 2 of the valuation hierarchy as of December 31, 2015 (see Note (2) for additional information).

Concentration Risk Narrative (D

Concentration Risk Narrative (Details)	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016
BNYMellonCorporation [Member] | Customer Concentration Risk [Member]
Concentration Risk, Percentage	15.00%	15.00%

Concentration Risk Schedule of

Concentration Risk Schedule of Revenue Concentration (Details) - Product Concentration Risk [Member]	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Money Market Funds [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	47.00%	31.00%
Equity Funds [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	37.00%	47.00%
Fixed Income Funds [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	16.00%	22.00%

Concentration Risk Voluntary Fe

Concentration Risk Voluntary Fee Waivers (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Concentration Risk [Line Items]
Revenue	$ (21.3)	$ (84.2)	$ (58.8)	$ (178.3)
Less: Reduction in Distribution expense	16.5	60.2	44.4	124.8
Operating income	(4.8)	(24)	(14.4)	(53.5)
Less: (Increase)/Reduction in Noncontrolling interests	(0.2)	1.8	0	4.3
Pre-tax impact	$ (5)	$ (22.2)	$ (14.4)	$ (49.2)

Consolidation Narrative (Detail

Consolidation Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016	Dec. 31, 2015
Variable Interest Entities [Line Items]
Accounts receivable from Federated Funds	$ 22,300	$ 22,300	$ 16,900
Total Waived Fees	102,200	220,800
Investments - consolidated investment companies	56,879	56,879	25,368
Federated's net interest in the consolidated Federated Fund VIEs	18,200	18,200	17,000
Nonredeemable noncontrolling interest in subsidiary	1,323	1,323	1,156
Consolidated Voting Rights Entities [Member]
Variable Interest Entities [Line Items]
Investments - consolidated investment companies	12,100	12,100
Redeemable noncontrolling interest in subsidiaries	1,900	1,900
Variable Interest Entity, Primary Beneficiary, Aggregated Disclosure [Member]
Variable Interest Entities [Line Items]
Investments - consolidated investment companies	44,800	44,800	25,400
Redeemable noncontrolling interest in subsidiaries	27,800	27,800	8,700
Liabilities	900	900	3,000
VIE maximum risk of loss	18,200	18,200	17,000
Variable Interest Entity, Primary Beneficiary, Aggregated Disclosure [Member] | Cash and Cash Equivalents [Member]
Variable Interest Entities [Line Items]
Consolidated VIE assets	$ 600	$ 600	3,100
General Partnership and VIE [Member] | Passport [Member]
Variable Interest Entities [Line Items]
Noncontrolling interest, ownership percentage by parent		50.50%
Noncontrolling interest, ownership percentage by noncontrolling owners	49.50%	49.50%
Liabilities	$ 3,400	$ 3,400
Nonredeemable noncontrolling interest in subsidiary	1,300	1,300
General Partnership and VIE [Member] | Cash and Cash Equivalents [Member] | Passport [Member]
Variable Interest Entities [Line Items]
Consolidated VIE assets	6,100	6,100
Non-Consolidated Variable Interest Entity, Not Primary Beneficiary [Member]
Variable Interest Entities [Line Items]
VIE maximum risk of loss	1,100	1,100	301,500
VIE investment	1,100	1,100	301,500
AUM for nonconsolidated Federated Funds	13,400	13,400	268,000,000
Non-Consolidated Variable Interest Entity, Not Primary Beneficiary [Member] | Investments [Member]
Variable Interest Entities [Line Items]
VIE investment			141,800
Non-Consolidated Variable Interest Entity, Not Primary Beneficiary [Member] | Cash and Cash Equivalents [Member] | Money Market Funds [Member]
Variable Interest Entities [Line Items]
VIE investment			$ 159,700
Financial Support Waived Fees [Member]
Variable Interest Entities [Line Items]
Financial support	74,300	164,900
Financial Support, Capital Contributions [Member]
Variable Interest Entities [Line Items]
Financial support	$ 0	$ 0

Consolidation Consolidated Fede

Consolidation Consolidated Federated Fund VIEs (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Variable Interest Entity [Line Items]
Investments—consolidated investment companies	$ 56,879	$ 25,368
Federated's net interest in the consolidated Federated Fund VIEs	18,200	17,000
Variable Interest Entity, Primary Beneficiary, Aggregated Disclosure [Member]
Variable Interest Entity [Line Items]
Investments—consolidated investment companies	44,800	25,400
Less: Liabilities	900	3,000
Less: Redeemable noncontrolling interest in subsidiaries	27,800	8,700
Cash and Cash Equivalents [Member] | Variable Interest Entity, Primary Beneficiary, Aggregated Disclosure [Member]
Variable Interest Entity [Line Items]
Consolidated VIE assets	600	3,100
Trade Accounts Receivable [Member] | Variable Interest Entity, Primary Beneficiary, Aggregated Disclosure [Member]
Variable Interest Entity [Line Items]
Consolidated VIE assets	$ 1,500	$ 200

Investments Narrative (Details)

Investments Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Schedule of Investments [Line Items]
Available-for-sale equity securities	$ 134,413	$ 141,748
Gross unrealized losses	2,181	6,456
Available-for-sale securities, continuous unrealized losses, fair value	108,900	124,000
Available-for-sale securities, continuous unrealized losses, 12 months or longer, fair value	107,700	92,600
Available-for-sale securities, continuous unrealized accumulated losses, 12 months or longer	2,100	5,500
Other-than-temporary impairment on available-for-sale securities	1,600
Trading Securities	64,200	32,400
Domestic Debt Securities [Member]
Schedule of Investments [Line Items]
Trading Securities	44,600	9,000
Equity Securities [Member]
Schedule of Investments [Line Items]
Trading Securities	8,900	10,500
Mutual Fund [Member]
Schedule of Investments [Line Items]
Trading Securities	$ 8,800	$ 11,000

Investments Available-For-Sale

Investments Available-For-Sale Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Cost	$ 135,971	$ 147,753
Gross unrealized gains	623	451
Gross unrealized losses	(2,181)	(6,456)
Available-for-sale equity securities	134,413	141,748
Equity Mutual Funds [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost	31,968	32,357
Gross unrealized gains	491	342
Gross unrealized losses	(395)	(2,416)
Available-for-sale equity securities	32,064	30,283
Fixed-Income Mutual Funds [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost	104,003	115,396
Gross unrealized gains	132	109
Gross unrealized losses	(1,786)	(4,040)
Available-for-sale equity securities	$ 102,349	$ 111,465

Investments (Loss) Gain on Secu

Investments (Loss) Gain on Securities, Net of Investment Income (Details) - USD ($) $ in Thousands		3 Months Ended			6 Months Ended
		Jun. 30, 2016		Jun. 30, 2015	Jun. 30, 2016		Jun. 30, 2015
(Loss) Gain on Investments [Line Items]
(Loss) gain on securities, net	[1]	$ (569)		$ (980)	$ 522		$ (1,234)
Proceeds from redemptions of available-for-sale securities		100		0	151		0
Trading Securities [Member]
(Loss) Gain on Investments [Line Items]
Unrealized gain (loss) on trading securities		1,581		(832)	3,639		(376)
Realized gains	[2]	460		326	672		516
Realized losses	[2]	(481)		(417)	(1,775)		(1,031)
Derivatives [Member]
(Loss) Gain on Investments [Line Items]
Unrealized (loss) gain on derivatives	[3]	(410)		58	(303)		(100)
Realized gains	[2],[3]	149		61	555		296
Realized losses	[2],[3]	(266)		(176)	(647)		(539)
Available-for-sale Securities [Member]
(Loss) Gain on Investments [Line Items]
Realized gains	[2]	26	[4]	0	26	[4]	0
Realized losses	[2]	(1,628)	[4]	0	(1,645)	[4]	0
Consolidated Products [Member]
(Loss) Gain on Investments [Line Items]
(Loss) gain on securities, net		$ 900		$ (800)	$ 1,900		$ (1,100)
[1]	Amounts related to consolidated entities, primarily Federated Funds, totaled $0.9 million and $1.9 million for the three and six months ended June 30, 2016, respectively, and $(0.8) million and $(1.1) million for the three and six months ended June 30, 2015, respectively.
[2]	Realized gains and losses are computed on a specific-identification basis.
[3]	Amounts related to the settlement of economic derivatives held by certain consolidated Federated Funds.
[4]	Proceeds from redemptions of available-for-sale securities were $0.1 million and $0.2 million for the three and six months ended June 30, 2016.

Fair Value Measurements Narrati

Fair Value Measurements Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Cash and cash equivalents	$ 153,860	$ 172,628
Money Market Funds [Member]
Cash and cash equivalents	$ 146,800	$ 162,200

Fair Value Measurements Classes

Fair Value Measurements Classes of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands		Jun. 30, 2016	Dec. 31, 2015
Cash and cash equivalents		$ 153,860	$ 172,628
Available-for-sale equity securities		134,413	141,748
Available-for-sale equity securities using NAV practical expedient		25,454	24,326	[1]
Trading securities—equity		19,616	23,398
Trading securities—equity using NAV practical expedient		5,548	7,433	[1]
Trading securities—debt		44,562	9,041
Other assets	[2]	917	931
Total financial assets		353,368	347,746
Total investments using NAV Practical Expedient		31,002	31,759	[1]
Total financial liabilities	[3]	2,562	5,370
Level 1 [Member]
Cash and cash equivalents		153,860	172,628
Available-for-sale equity securities		108,959	117,422
Trading securities—equity		13,443	15,900
Trading securities—debt		0	0
Other assets	[2]	7	4
Total financial assets		276,269	305,954
Total financial liabilities	[3]	66	2,681
Level 2 [Member]
Cash and cash equivalents		0	0
Available-for-sale equity securities		0	0
Trading securities—equity		625	65
Trading securities—debt		44,562	9,041
Other assets	[2]	0	17
Total financial assets		45,187	9,123
Total financial liabilities	[3]	267	59
Level 3 [Member]
Cash and cash equivalents		0	0
Available-for-sale equity securities		0	0
Trading securities—equity		0	0
Trading securities—debt		0	0
Other assets		910	910
Total financial assets		910	910
Total financial liabilities	[3]	$ 2,229	$ 2,630
[1]	Investments that calculate NAV as a practical expedient were recategorized and are no longer included within Level 2 of the valuation hierarchy as of December 31, 2015 (see Note (2) for additional information).
[2]	Amounts include structured trade finance loans held by Federated as well as futures contracts and/or foreign currency forward contracts held within certain consolidated Federated Funds.
[3]	Amounts include acquisition-related future consideration liabilities and may include investments sold short, foreign currency forward contracts and/or futures contracts held within certain consolidated Federated Funds, as well as certain liabilities attributable to structured trade finance loans held by Federated.

Debt Narrative (Details)

Debt Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Jun. 24, 2014
Borrowings under Term Loan	$ 204,000		$ 216,750	$ 255,000
Line of credit facility, maximum borrowing capacity	200,000			200,000
Line of credit facility, outstanding borrowings				$ 0
Line of credit facility, current borrowing capacity	200,000
Term loan quarterly payments, next twelve months			25,500
Term loan quarterly payments, year two			25,500
Term loan quarterly payments, year three			55,800
Term loan quarterly payments, year four			$ 110,000
Repayments on borrowings	$ 12,750	$ 12,750
Loans Payable [Member]
Term loan spread	1.125%
Line of Credit [Member]
Line of credit facility, facility fee	0.125%
Line of credit facility spread	1.00%

Debt Debt (Details)

Debt Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Jun. 24, 2014
Debt Disclosure [Abstract]
Term loan, weighted average interest rate	1.585%	1.555%
Term Loan	$ 204,000	$ 216,750	$ 255,000
Less: Short-term debt	25,500	25,500
Long-term debt	$ 178,500	$ 191,250

Share-Based Compensation Plans

Share-Based Compensation Plans (Details) - shares	3 Months Ended				6 Months Ended	12 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2016	Dec. 31, 2015
Restricted Stock Granted in Period					514,660	863,137
Stock Options, Exercises in Period					0	3,000
Stock Options, Issued in Period					0	0
Shares of Federated Class B Common Stock Granted to Non-Management Directors	5,700	0	5,700	0
Class B Common Stock Bonus [Member]
Restricted Stock Granted in Period						373,137
Restricted stock requisite service period					3 years
Class B Common Stock Key Employees [Member]
Restricted stock requisite service period						10 years

Equity (Details)

Equity (Details) - USD ($) $ in Thousands, shares in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Feb. 28, 2015
Amount paid for repurchase of common stock	$ 41,014	$ 20,492
Other current liabilities	13,342		$ 14,466
Treasury Stock [Member]
Amount paid for repurchase of common stock	41,014	$ 20,492
Other current liabilities	$ 5,800
Class B [Member]
Number of shares authorized under share repurchase program				4
Repurchased shares	1.4
Remaining number of shares authorized to be repurchased	1.3

Earnings Per Share Attributab44

Earnings Per Share Attributable to Federated Investors, Inc. Shareholders Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net income attributable to Federated Investors, Inc.		$ 52,709	$ 41,759	$ 98,152	$ 78,066
Less: Total income available to participating unvested restricted shareholders, basic	[1]	(2,118)	(1,661)	(3,947)	(3,141)
Less: Total income available to participating unvested restricted shareholders, diluted	[1]	(2,118)	(1,661)	(3,947)	(3,141)
Total net income attributable to Federated Common Stock, basic	[2]	50,591	40,098	94,205	74,925
Total net income attributable to Federated Common Stock, diluted	[2]	$ 50,591	$ 40,098	$ 94,205	$ 74,925
Basic weighted-average common shares outstanding		99,592	100,732	99,697	100,686
Dilutive potential shares from stock options		1	2	1	2
Diluted weighted-average common shares outstanding		99,593	100,734	99,698	100,688
Net income attributable to Federated Common Stock - Basic and Diluted	[2]	$ 0.51	$ 0.40	$ 0.94	$ 0.74
[1]	Income available to participating unvested restricted shareholders includes dividends paid on unvested restricted shares and their proportionate share of undistributed earnings.
[2]	Federated Common Stock excludes unvested restricted stock which are deemed participating securities in accordance with the two-class method of computing earnings per share.

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	36 Months Ended
	Dec. 31, 2008	Jun. 30, 2016	Jan. 31, 2015	Dec. 01, 2008
Compensation-related payments in connection with significant employment and incentive arrangements		$ 31
Prior Business Acquisition Required Compound Annual Growth Rate to Have Earned Maximum Contingent Payments	30.00%
Alleged damages sought		37
Clover Capital Acquisition [Member]
Business Acquisition Cost Of Acquired Entity Upfront Cash Paid	$ 30
Maximum contingent payments under acquisition agreement				$ 55
Contingent purchase price payments			$ 18
Federated Global Investment Management Corp [Member] | Operating Expense [Member]
Loss Contingency Accrual, Payments		$ 1.5

Accumulated Other Comprehensi46

Accumulated Other Comprehensive (Loss) Income Attributable to Federated Investors, Inc. Shareholders (Details) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2016		Jun. 30, 2015	Jan. 01, 2016
Accumulated other comprehensive loss, net of tax		$ (4,609)		$ (1,662)
Other comprehensive income (loss) before reclassifications and tax		1,125		408
Other comprehensive income (loss) before reclassifications, tax total		(416)		(156)
Reclassification adjustments, before tax		2,898		358
Reclassification adjustment, tax total		(1,054)		(131)
Net current-period other comprehensive income (loss)		2,553		479
Accumulated other comprehensive loss, net of tax		(2,056)		(1,183)
Unrealized Loss on Interest Rate Swap [Member]
Accumulated other comprehensive loss, net of tax	[1]	0		(269)
Other comprehensive income (loss) before reclassifications and tax	[1]	0		67
Other comprehensive income (loss) before reclassifications, tax total	[1]	0		(25)
Reclassification adjustments, before tax	[1]	0		358
Reclassification adjustment, tax total	[1]	0		(131)
Net current-period other comprehensive income (loss)	[1]	0		269
Accumulated other comprehensive loss, net of tax	[1]	0		0
Unrealized Loss on Securities Available for Sale [Member]
Accumulated other comprehensive loss, net of tax	[2]	(3,795)		(1,126)
Other comprehensive income (loss) before reclassifications and tax	[2]	1,549		614
Other comprehensive income (loss) before reclassifications, tax total	[2]	(564)		(226)
Reclassification adjustments, before tax	[2]	2,898	[3]	0
Reclassification adjustment, tax total	[2]	(1,054)		0
Net current-period other comprehensive income (loss)	[2]	2,829		388
Accumulated other comprehensive loss, net of tax	[2]	(966)		(738)
Foreign Currency Translation Loss [Member]
Accumulated other comprehensive loss, net of tax		(814)		(267)
Other comprehensive income (loss) before reclassifications and tax		(424)		(273)
Other comprehensive income (loss) before reclassifications, tax total		148		95
Reclassification adjustments, before tax		0		0
Reclassification adjustment, tax total		0		0
Net current-period other comprehensive income (loss)		(276)		(178)
Accumulated other comprehensive loss, net of tax		$ (1,090)		$ (445)
Accumulated Other Comprehensive Loss, Net of Tax [Member] | Accounting Standards Update 2015-02 [Member]
Reclassification adjustment relating to adoption of new accounting pronouncements					$ 831
Retained Earnings [Member] | Accounting Standards Update 2015-02 [Member]
Reclassification adjustment relating to adoption of new accounting pronouncements					$ (831)
[1]	Federated entered into an interest rate swap in 2010 to hedge its interest-rate risk associated with its original term loan facility. The interest rate swap expired on April 1, 2015. Amounts reclassified from Accumulated other comprehensive loss, net of tax were recorded in Debt expense on the Consolidated Statements of Income.
[2]	Other than as described in note 3 below, amounts reclassified from Accumulated other comprehensive loss, net of tax were recorded in (Loss) gain on securities, net on the Consolidated Statements of Income.
[3]	Amount includes reclassification of $0.8 million, net of tax from Accumulated other comprehensive loss, net of tax to Retained earnings on the Consolidated Balance Sheets as a result of the adoption of ASU 2015-02 (see Note (2) for additional information).

Subsequent Events (Details)

Subsequent Events (Details)	Jul. 28, 2016$ / shares
Subsequent Event [Member]
Dividend declared	$ 0.25

Uncategorized Items - fii-20160

Label	Element	Value
Adjustments for New Accounting Pronouncement [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 43,000
Adjustments for New Accounting Pronouncement [Member] | AOCI Attributable to Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	831,000
Adjustments for New Accounting Pronouncement [Member] | Common Stock [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	123,000
Adjustments for New Accounting Pronouncement [Member] | Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	43,000
Adjustments for New Accounting Pronouncement [Member] | Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(911,000)
Adjustments for New Accounting Pronouncement [Member] | Redeemable Noncontrolling Interest in Subsidiaries Temporary Equity [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 14,850,000