Federated Hermes (FHI) 10-Q 28 Oct 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 24, 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	Sep. 30, 2016
Document Fiscal Period Focus	Q3
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		102,212,183

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Current Assets
Cash and cash equivalents	$ 185,104	$ 172,628
Investments—affiliates	129,208	141,748
Investments—consolidated investment companies	58,977	25,368
Investments—other	7,219	7,071
Receivables, net of reserve of $74 and $59, respectively	39,040	33,524
Prepaid expenses	9,718	10,722
Other current assets	3,225	4,767
Total current assets	432,491	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 $6,641 and $21,116, respectively	3,759	4,595
Property and equipment, net of accumulated depreciation of $61,944 and $56,034, respectively	39,738	35,743
Other long-term assets	24,962	21,140
Total long-term assets	798,026	791,375
Total assets	1,230,517	1,187,203
Current Liabilities
Short-term debt	25,500	25,500
Accounts payable and accrued expenses	54,430	43,551
Accrued compensation and benefits	61,781	75,691
Other current liabilities	10,623	14,466
Total current liabilities	152,334	159,208
Long-Term Liabilities
Long-term debt	172,125	191,250
Long-term deferred tax liability, net	172,853	158,895
Other long-term liabilities	22,367	20,144
Total long-term liabilities	367,345	370,289
Total liabilities	519,679	529,497
Commitments and contingencies (Note (12))
TEMPORARY EQUITY
Redeemable noncontrolling interest in subsidiaries	29,945	8,734
PERMANENT EQUITY
Additional paid-in capital from treasury stock transactions	45	0
Retained earnings	607,161	545,785
Treasury stock, at cost, 7,223,273 and 5,411,429 shares Class B common stock, respectively	(242,703)	(191,939)
Accumulated other comprehensive loss, net of tax	(594)	(4,609)
Total Federated Investors, Inc. shareholders’ equity	679,660	647,816
Nonredeemable noncontrolling interest in subsidiary	1,233	1,156
Total permanent equity	680,893	648,972
Total liabilities, temporary equity and permanent equity	1,230,517	1,187,203
Class A [Member]
PERMANENT EQUITY
Common stock	189	189
Class B [Member]
PERMANENT EQUITY
Common stock	$ 315,562	$ 298,390

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Receivables, reserve	$ 74	$ 59
Other intangible assets, accumulated amortization	6,641	21,116
Property and equipment, accumulated depreciation	$ 61,944	$ 56,034
Treasury stock, shares	7,223,273	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		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenue
Investment advisory fees, net—affiliates		$ 169,327	$ 133,569	$ 490,059	$ 385,067
Investment advisory fees, net—other		27,926	25,329	81,703	74,818
Administrative service fees, net—affiliates		53,577	53,275	160,181	157,897
Other service fees, net—affiliates		41,701	20,295	115,201	59,010
Other service fees, net—other		1,033	903	3,374	3,004
Other, net		1,056	950	2,949	3,174
Total revenue		294,620	234,321	853,467	682,970
Operating Expenses
Distribution		98,740	58,823	281,862	166,376
Compensation and related		75,731	70,624	227,726	218,062
Systems and communications		7,763	6,684	23,395	20,533
Office and occupancy		6,660	6,552	20,223	20,115
Professional service fees		7,360	7,823	19,886	22,990
Advertising and promotional		3,371	3,310	10,751	10,285
Travel and related		3,165	3,183	9,727	9,474
Other		3,194	3,078	9,036	12,574
Total operating expenses		205,984	160,077	602,606	480,409
Operating income		88,636	74,244	250,861	202,561
Nonoperating Income (Expenses)
Investment income, net		1,857	1,243	5,104	3,777
Gain (loss) on securities, net	[1]	2,032	(4,292)	2,553	(5,526)
Debt expense		(1,039)	(979)	(3,118)	(3,325)
Other, net		19	(8)	13	(37)
Total nonoperating income (expenses), net		2,869	(4,036)	4,552	(5,111)
Income before income taxes		91,505	70,208	255,413	197,450
Income tax provision		32,597	26,072	91,128	74,633
Net income including the noncontrolling interests in subsidiaries		58,908	44,136	164,285	122,817
Less: Net income attributable to the noncontrolling interests in subsidiaries		3,983	5	11,208	620
Net income		$ 54,925	$ 44,131	$ 153,077	$ 122,197
Amounts Attributable to Federated Investors, Inc.
Earnings per common share—Basic and Diluted	[2]	$ 0.54	$ 0.42	$ 1.48	$ 1.17
Cash dividends per share		$ 0.25	$ 0.25	$ 0.75	$ 0.75
[1]	Amounts related to consolidated entities, primarily Federated Funds, totaled $1.6 million and $3.5 million for the three and nine months ended September 30, 2016, respectively, and $(2.6) million and $(3.7) million for the three and nine months ended September 30, 2015, respectively.
[2]	Federated Common Stock excludes unvested restricted shares 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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Net income including the noncontrolling interests in subsidiaries	$ 58,908	$ 44,136	$ 164,285	$ 122,817
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	1,688	(2,999)	2,673	(2,611)
Reclassification adjustment related to securities available for sale	(178)	847	1,666	847
Foreign currency items	(47)	(210)	(324)	(388)
Temporary equity
Foreign currency translation loss	(16)	0	(13)	0
Other comprehensive income (loss)	1,447	(2,362)	4,002	(1,883)
Comprehensive income including the noncontrolling interests in subsidiaries	60,355	41,774	168,287	120,934
Less: Comprehensive income (loss) attributable to redeemable noncontrolling interest in subsidiaries	1,349	(905)	3,242	(1,288)
Less: Comprehensive income attributable to nonredeemable noncontrolling interest in subsidiary	2,618	910	7,953	1,908
Comprehensive income attributable to Federated Investors, Inc.	$ 56,388	$ 41,769	$ 157,092	$ 120,314

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [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	$ 0	$ 505,394	$ (165,258)	$ (1,662)	$ 609,494	$ 158	$ 3,697
Net income (loss)	124,105			122,197			122,197	1,908	(1,288)
Other comprehensive income (loss), net of tax	(1,883)					(1,883)	(1,883)		0
Subscriptions—redeemable noncontrolling interest holders	0								16,209
Consolidation/(deconsolidation)	0							0	(7,105)
Stock award activity	21,236	21,137	5	(12,396)	12,490		21,236
Dividends declared	(78,588)			(78,588)			(78,588)
Distributions to noncontrolling interest in subsidiaries	(133)							(133)	(2,902)
Purchase of treasury stock	(36,845)		0		(36,845)		(36,845)
Balance at Sep. 30, 2015	637,544	292,157	5	536,607	(189,613)	(3,545)	635,611	1,933	8,611
Balance at Dec. 31, 2015	648,972	298,579	0	545,785	(191,939)	(4,609)	647,816	1,156	8,734
Adoption of new accounting pronouncements (Adjustments for New Accounting Pronouncement [Member]) at Dec. 31, 2015	43	123		(911)		831	43		14,850
Net income (loss)	161,030			153,077			153,077	7,953	3,255
Other comprehensive income (loss), net of tax	3,184					3,184	3,184		(13)
Subscriptions—redeemable noncontrolling interest holders	0								14,040
Consolidation/(deconsolidation)	0								(4,579)
Stock award activity	17,271	17,049	45	(13,160)	13,337		17,271
Dividends declared	(77,630)			(77,630)			(77,630)
Distributions to noncontrolling interest in subsidiaries	(7,876)							(7,876)	(6,342)
Purchase of treasury stock	(64,101)		0		(64,101)		(64,101)
Balance at Sep. 30, 2016	$ 680,893	$ 315,751	$ 45	$ 607,161	$ (242,703)	$ (594)	$ 679,660	$ 1,233	$ 29,945

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Operating Activities
Net income including the noncontrolling interests in subsidiaries	$ 164,285	$ 122,817
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities
Amortization of deferred sales commissions	8,979	11,774
Depreciation and other amortization	7,098	7,184
Share-based compensation expense	17,212	17,355
Loss on disposal of assets	1,417	2,196
Provision for deferred income taxes	13,686	13,035
Fair-value adjustments for contingent liabilities	0	377
Impairment of assets	1,637	1,342
Consolidation/deconsolidation of investment companies	(176)	(227)
Adoption of new accounting pronouncement	(2,653)	0
Net purchases of trading securities	(8,753)	(11,547)
Deferred sales commissions paid	(10,137)	(11,091)
Contingent deferred sales charges received	1,636	1,826
Other changes in assets and liabilities:
Increase in receivables, net	(5,356)	(764)
(Increase) decrease in prepaid expenses and other assets	(4,776)	6,120
Decrease in accounts payable and accrued expenses	(5,794)	(13,354)
(Decrease) increase in other liabilities	(2,787)	5,180
Net cash provided by operating activities	175,518	152,223
Investing Activities
Purchases of securities available for sale	(2,273)	(2,692)
Proceeds from redemptions of securities available for sale	7,980	1
Cash paid for property and equipment	(10,391)	(4,618)
Net cash used by investing activities	(4,684)	(7,309)
Financing Activities
Dividends paid	(77,767)	(78,607)
Purchases of treasury stock	(61,440)	(37,106)
Distributions to noncontrolling interest in subsidiaries	(14,218)	(3,035)
Contributions from noncontrolling interest in subsidiaries	14,040	16,209
Proceeds from shareholders for share-based compensation	222	99
Excess tax benefits from share-based compensation	0	2,541
Cash paid for business acquisitions	(70)	0
Payments on debt	(19,125)	(19,125)
Net cash used by financing activities	(158,358)	(119,024)
Net increase in cash and cash equivalents	12,476	25,890
Cash and cash equivalents, beginning of period	172,628	115,267
Cash and cash equivalents, end of period	$ 185,104	$ 141,157

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 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	9 Months Ended
	Sep. 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, upon adoption, 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 was previously 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 has elected the prospective transition method 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 principle 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	9 Months Ended
	Sep. 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 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 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 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 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	9 Months Ended
	Sep. 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: Nine Months Ended September 30, 2016 2015 Money market assets 46 % 32 % Equity assets 38 % 47 % Fixed-income assets 16 % 21 % The change in the relative proportion of Federated's revenue attributable to money market assets for the first nine 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). Current Regulatory Environment Federated and its investment management business are subject to extensive regulation in the United States (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), which had a final compliance date of October 14, 2016. 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 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 ( 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. On October 13, 2016, the SEC adopted new rules relating to the modernization of investment company reporting and disclosure, the enhancement of liquidity risk management by open-end investment companies and the permitted use of "swing pricing" by open-end investment companies. Federated is analyzing the potential impact of these new rules. Federated will also continue to monitor developments and evaluate the impact of the 2014 Money Fund Rules and Money Fund Rules Guidance, the Final Fiduciary Rule and other regulatory initiatives on its 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 various 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. At each of its 2016 meetings to date, the FOMC has deferred making additional increases in 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 Nine Months Ended September 30, September 30, (in millions) 2016 2015 2016 2015 Revenue $ (18.0 ) $ (83.3 ) $ (76.8 ) $ (261.6 ) Less: Reduction in Distribution expense 13.8 61.3 58.2 186.1 Operating income (4.2 ) (22.0 ) (18.6 ) (75.5 ) Less: Reduction in Noncontrolling interests 0.0 1.7 0.0 6.0 Pre-tax impact $ (4.2 ) $ (20.3 ) $ (18.6 ) $ (69.5 ) The negative pre-tax impact of Voluntary Yield-related Fee Waivers decreased for the nine-month period ended September 30, 2016 as compared to the same period in 2015 due primarily to higher yields on instruments held by the money market funds. Although the FOMC implied in its economic projections from its December 2015 meeting that it would continue to raise the federal funds target rate in a measured and gradual way, the FOMC has continued to defer making additional increases at each of the 2016 meetings. 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 nine-month period s ended September 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. (c) Revenue Concentration by Investment Fund Approximately 11% and 9% of Federated's total revenue for the three - and nine-month period s ended September 30, 2016 , respectively, was derived from services provided to one Federated Fund , the Federated Strategic Value Dividend Fund. A significant and prolonged decline in the AUM in this fund could have a material adverse effect on Federated's future revenues and to a lesser extent, net income due to a related reduction to distribution expenses associated with this fund. 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	9 Months Ended
	Sep. 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 of, 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 $22.7 million and $16.9 million at September 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 various Federated Funds for competitive, regulatory or contractual reasons. For the three and nine months ended September 30, 2016 , Federated waived fees, including Voluntary Yield-related Fee Waivers , totaling $101.2 million and $322.0 million , respectively, of which $75.4 million and $240.3 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 contributions for the three months ended September 30, 2016 and no material contributions for the nine months ended September 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 September 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 September 30, 2016 , consolidated VREs included on Federated's Consolidated Balance Sheets included $14.2 million in Investments—consolidated investment companies and $2.5 million in Redeemable noncontrolling interest in subsidiaries . (b) Consolidated Variable Interest Entities As of September 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 September 30, 2016 balances in the table below. See the Consolidated Voting Rights Entities section above for information on consolidated VREs as of September 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) September 30, 2016 December 31, 2015 Cash and cash equivalents $ 0.0 $ 3.1 Investments—consolidated investment companies 44.8 25.4 Receivables 0.8 0.2 Less: Liabilities 1.2 3.0 Less: Redeemable noncontrolling interest in subsidiaries 27.4 8.7 Federated's net interest in the consolidated Federated Fund VIEs $ 17.0 $ 17.0 Federated's net interest in the consolidated Federated Fund VIEs of $17.0 million at both September 30, 2016 and December 31, 2015 , 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 September 30, 2016 and December 31, 2015 are primarily classified as Other current liabilities and Accounts payable and accrued expenses , 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 one sponsored fund as of September 30, 2016 and was deemed to be a VIE upon adoption of ASU 2015-02. Assets totaling $6.9 million primarily representing Cash and cash equivalents, liabilities totaling $4.4 million primarily representing operating liabilities and $1.2 million included in Nonredeemable noncontrolling interest in subsidiary are included on the Consolidated Balance Sheets as of September 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 nine months ended September 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 September 30, 2016 , Federated’s investment and maximum risk of loss related to non-consolidated VIEs was entirely related to two Federated Fund s and totaled $1.5 million , which was recorded in Investments—affiliates on the Consolidated Balance Sheets. AUM for these non-consolidated Federated Fund s totaled $22.6 million at September 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 September 30, 2016 balances above. See the Consolidated Voting Rights Entities section above for information on consolidated VREs as of September 30, 2016 .

Investments

Investments	9 Months Ended
	Sep. 30, 2016
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Investments on the Consolidated Balance Sheets as of September 30, 2016 and December 31, 2015 included available-for-sale and trading securities. At September 30, 2016 and December 31, 2015 , Federated held investments totaling $129.2 million and $141.7 million , respectively, in fluctuating-value Federated 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: September 30, 2016 December 31, 2015 Gross Unrealized Estimated Fair Gross Unrealized Estimated Fair (in thousands) Cost Gains (Losses) Value Cost Gains (Losses) Value Equity funds $ 23,649 $ 1,623 $ (58 ) $ 25,214 $ 32,357 $ 342 $ (2,416 ) $ 30,283 Fixed-income funds 104,747 156 (909 ) 103,994 115,396 109 (4,040 ) 111,465 Total fluctuating-value funds $ 128,396 $ 1,779 $ (967 ) $ 129,208 $ 147,753 $ 451 $ (6,456 ) $ 141,748 Federated’s trading securities totaled $66.2 million and $32.4 million at September 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 September 30, 2016 and December 31, 2015 , were primarily invested in domestic debt securities ( $47.1 million and $9.0 million , respectively), investments in Federated Funds and other funds ( $9.0 million and $11.0 million , respectively) and stocks of large U.S. and international companies ( $6.2 million and $10.5 million , respectively). The following table presents gains and losses recognized in Gain (loss) 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 Nine Months Ended September 30, September 30, (in thousands) 2016 2015 2016 2015 Unrealized gain (loss) Trading securities $ 1,684 $ (903 ) $ 5,410 $ (1,485 ) Derivatives 1 315 148 11 122 Realized gains 2 Available-for-sale securities 3 266 0 291 0 Trading securities 472 224 1,058 739 Derivatives 1 28 17 583 313 Realized losses 2 Available-for-sale securities 3 0 (1,342 ) (1,645 ) (1,342 ) Trading securities (273 ) (1,547 ) (2,048 ) (2,371 ) Derivatives 1 (460 ) (889 ) (1,107 ) (1,502 ) Gain (loss) on securities, net 4 $ 2,032 $ (4,292 ) $ 2,553 $ (5,526 ) 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 $7.8 million and $8.0 million for the three and nine months ended September 30, 2016 . 4 Amounts related to consolidated entities, primarily Federated Funds , totaled $1.6 million and $3.5 million for the three and nine months ended September 30, 2016 , respectively, and $(2.6) million and $(3.7) million for the three and nine months ended September 30, 2015 , respectively.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 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 September 30, 2016 Financial Assets Cash and cash equivalents $ 125,093 $ 0 $ 0 $ 60,011 $ 185,104 Available-for-sale equity securities 102,964 0 0 26,244 129,208 Trading securities—equity 13,490 0 0 5,643 19,133 Trading securities—debt 0 47,063 0 0 47,063 Other 1 0 33 910 0 943 Total financial assets $ 241,547 $ 47,096 $ 910 $ 91,898 $ 381,451 Total financial liabilities 2 $ 30 $ 0 $ 2,229 $ 0 $ 2,259 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 September 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 $178.1 million and $162.2 million at September 30, 2016 and December 31, 2015 , respectively. Cash investments in publicly available 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. For an investment in a money market fund that is not publicly available but for which the NAV is calculated daily and for which there are no redemption restrictions, the security is valued using NAV as a practical expedient and is excluded from the fair value hierarchy. This investment is included in the NAV practical expedient column in the table above. Available-for-sale equity securities Available-for-sale equity securities include investments in fluctuating-value Federated Funds and are included in Investments—affiliates on the Consolidated Balance Sheets. For investments in Federated 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 Federated 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 Federated 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 September 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	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Debt Disclosure	Debt Debt consisted of the following: Interest Rates September 30, December 31, (dollars in thousands) 2016 2015 September 30, 2016 December 31, 2015 Term Loan 1.655% 1.555% $ 197,625 $ 216,750 Less: Short-term debt 25,500 25,500 Long-term debt $ 172,125 $ 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 September 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 nine months ended September 30, 2016 , Federated repaid $19.1 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 nine months ended September 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	9 Months Ended
	Sep. 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 nine months of 2016 , Federated awarded 529,660 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 nine months ended September 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	9 Months Ended
	Sep. 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. No other programs existed as of September 30, 2016. This program authorizes executive management to determine the timing and the amount of shares for each purchase. The repurchased stock is to be held in treasury for employee share-based compensation plans, potential acquisitions and other corporate activities, unless Federated's board of directors subsequently determines to retire the repurchased stock and restore the shares to authorized but unissued status (rather than holding the shares in treasury). During the first nine months of 2016 , Federated repurchased 2.3 million shares of Class B common stock for $64.1 million , 2.2 million 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 September 30, 2016 , 0.6 million shares remained available to be purchased under Federated's buyback program. See Note (14) for information regarding a new share repurchase program approved on October 27, 2016 .

Earnings Per Share Attributable

Earnings Per Share Attributable to Federated Investors, Inc. Shareholders	9 Months Ended
	Sep. 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 Nine Months Ended September 30, September 30, (in thousands, except per share data) 2016 2015 2016 2015 Numerator – Basic and Diluted Net income attributable to Federated Investors, Inc. $ 54,925 $ 44,131 $ 153,077 $ 122,197 Less: Total income available to participating unvested restricted shareholders 1 (2,035 ) (1,691 ) (5,987 ) (4,837 ) Total net income attributable to Federated Common Stock 2 $ 52,890 $ 42,440 $ 147,090 $ 117,360 Denominator Basic weighted-average common shares outstanding 98,805 100,449 99,397 100,606 Dilutive potential shares from stock options 1 2 1 1 Diluted weighted-average common shares outstanding 98,806 100,451 99,398 100,607 Earnings per share Net income attributable to Federated Common Stock – Basic and Diluted 2 $ 0.54 $ 0.42 $ 1.48 $ 1.17 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 shares which are deemed participating securities in accordance with the two-class method of computing earnings per share.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies (a) Contractual During the third quarter 2016, Federated amended its operating lease for its corporate headquarters building in Pittsburgh, Pennsylvania. The amendment extended the lease through 2030 and contained options to renew for additional periods through 2040. The amendment also included provisions for leasehold improvement incentives, rent escalation and early termination. As of September 30, 2016 , payments due for the remainder of 2016 approximate $2 million . Payments approximate $6 million for each of the years 2017 through 2020 and a total of $75 million for 2021 through the current 2030 termination date. 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 September 30, 2016 and performance goals, payments could total up to approximately $30 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 September 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 U.S. financial markets 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 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. Fact discovery and expert discovery have concluded. On June 9, 2016, following oral argument, the Court granted Federated's evidentiary motion seeking to exclude CCM's expert testimony, ruling CCM's expert reports and testimony inadmissible. Briefing is now concluded on Federated's motion for summary judgment, which was filed on July 15, 2016, seeking to have the Court rule in Federated’s favor as a matter of law. 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 September 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. Other Litigation . Federated also has claims asserted and threatened against it in the ordinary course of business. As of September 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	9 Months Ended
	Sep. 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)/Income 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 (4,140 ) (597 ) (4,670 ) Tax impact (25 ) 1,529 209 1,713 Reclassification adjustments, before tax 358 1,342 0 1,700 Tax impact (131 ) (495 ) 0 (626 ) Net current-period other comprehensive income (loss) 269 (1,764 ) (388 ) (1,883 ) Balance at September 30, 2015 $ 0 $ (2,890 ) $ (655 ) $ (3,545 ) Balance at December 31, 2015 $ 0 $ (3,795 ) $ (814 ) $ (4,609 ) Other comprehensive income (loss) before reclassifications and tax 0 4,185 (497 ) 3,688 Tax impact 0 (1,512 ) 173 (1,339 ) Reclassification adjustments, before tax 3 0 2,632 0 2,632 Tax impact 3 0 (966 ) 0 (966 ) Net current-period other comprehensive income (loss) 0 4,339 (324 ) 4,015 Balance at September 30, 2016 $ 0 $ 544 $ (1,138 ) $ (594 ) 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 Gain (loss) 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	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On October 27, 2016 , the board of directors declared a $1.25 per share dividend to shareholders of record as of November 8, 2016 to be paid on November 15, 2016 . The dividend, which will be paid from Federated's existing cash balance, is considered to be an ordinary dividend for tax purposes and consists of a $0.25 quarterly dividend and a $1.00 special dividend. See Management's Discussion and Analysis under the caption Business Developments - Subsequent Event - Special Cash Dividend for more information on the estimated diluted earnings per share impact for the quarter ending December 31, 2016 . On October 27, 2016 , the board of directors authorized another share repurchase program that allows Federated to buy back up to 4 million additional shares of Federated Class B common stock with no stated expiration date. This program authorizes executive management to determine the timing and the amount of shares for each purchase. The repurchased stock is to be held in treasury for employee share-based compensation plans, potential acquisitions and other corporate activities, unless Federated's board of directors subsequently determines to retire the repurchased stock and restore the shares to authorized but unissued status (rather than holding the shares in treasury). See Note (10) for additional information.

Concentration Risk (Tables)

Concentration Risk (Tables)	9 Months Ended
	Sep. 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: Nine Months Ended September 30, 2016 2015 Money market assets 46 % 32 % Equity assets 38 % 47 % Fixed-income assets 16 % 21 %
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 Nine Months Ended September 30, September 30, (in millions) 2016 2015 2016 2015 Revenue $ (18.0 ) $ (83.3 ) $ (76.8 ) $ (261.6 ) Less: Reduction in Distribution expense 13.8 61.3 58.2 186.1 Operating income (4.2 ) (22.0 ) (18.6 ) (75.5 ) Less: Reduction in Noncontrolling interests 0.0 1.7 0.0 6.0 Pre-tax impact $ (4.2 ) $ (20.3 ) $ (18.6 ) $ (69.5 )

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	9 Months Ended
	Sep. 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) September 30, 2016 December 31, 2015 Cash and cash equivalents $ 0.0 $ 3.1 Investments—consolidated investment companies 44.8 25.4 Receivables 0.8 0.2 Less: Liabilities 1.2 3.0 Less: Redeemable noncontrolling interest in subsidiaries 27.4 8.7 Federated's net interest in the consolidated Federated Fund VIEs $ 17.0 $ 17.0

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2016
Investments, Debt and Equity Securities [Abstract]
Available-For-Sale Securities	Available-for-sale securities were as follows: September 30, 2016 December 31, 2015 Gross Unrealized Estimated Fair Gross Unrealized Estimated Fair (in thousands) Cost Gains (Losses) Value Cost Gains (Losses) Value Equity funds $ 23,649 $ 1,623 $ (58 ) $ 25,214 $ 32,357 $ 342 $ (2,416 ) $ 30,283 Fixed-income funds 104,747 156 (909 ) 103,994 115,396 109 (4,040 ) 111,465 Total fluctuating-value funds $ 128,396 $ 1,779 $ (967 ) $ 129,208 $ 147,753 $ 451 $ (6,456 ) $ 141,748
Gains and losses on investments	The following table presents gains and losses recognized in Gain (loss) 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 Nine Months Ended September 30, September 30, (in thousands) 2016 2015 2016 2015 Unrealized gain (loss) Trading securities $ 1,684 $ (903 ) $ 5,410 $ (1,485 ) Derivatives 1 315 148 11 122 Realized gains 2 Available-for-sale securities 3 266 0 291 0 Trading securities 472 224 1,058 739 Derivatives 1 28 17 583 313 Realized losses 2 Available-for-sale securities 3 0 (1,342 ) (1,645 ) (1,342 ) Trading securities (273 ) (1,547 ) (2,048 ) (2,371 ) Derivatives 1 (460 ) (889 ) (1,107 ) (1,502 ) Gain (loss) on securities, net 4 $ 2,032 $ (4,292 ) $ 2,553 $ (5,526 ) 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 $7.8 million and $8.0 million for the three and nine months ended September 30, 2016 . 4 Amounts related to consolidated entities, primarily Federated Funds , totaled $1.6 million and $3.5 million for the three and nine months ended September 30, 2016 , respectively, and $(2.6) million and $(3.7) million for the three and nine months ended September 30, 2015 , respectively.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 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 September 30, 2016 Financial Assets Cash and cash equivalents $ 125,093 $ 0 $ 0 $ 60,011 $ 185,104 Available-for-sale equity securities 102,964 0 0 26,244 129,208 Trading securities—equity 13,490 0 0 5,643 19,133 Trading securities—debt 0 47,063 0 0 47,063 Other 1 0 33 910 0 943 Total financial assets $ 241,547 $ 47,096 $ 910 $ 91,898 $ 381,451 Total financial liabilities 2 $ 30 $ 0 $ 2,229 $ 0 $ 2,259 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)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Debt	Debt consisted of the following: Interest Rates September 30, December 31, (dollars in thousands) 2016 2015 September 30, 2016 December 31, 2015 Term Loan 1.655% 1.555% $ 197,625 $ 216,750 Less: Short-term debt 25,500 25,500 Long-term debt $ 172,125 $ 191,250

Earnings Per Share Attributab27

Earnings Per Share Attributable to Federated Investors, Inc. Shareholders (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
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 Nine Months Ended September 30, September 30, (in thousands, except per share data) 2016 2015 2016 2015 Numerator – Basic and Diluted Net income attributable to Federated Investors, Inc. $ 54,925 $ 44,131 $ 153,077 $ 122,197 Less: Total income available to participating unvested restricted shareholders 1 (2,035 ) (1,691 ) (5,987 ) (4,837 ) Total net income attributable to Federated Common Stock 2 $ 52,890 $ 42,440 $ 147,090 $ 117,360 Denominator Basic weighted-average common shares outstanding 98,805 100,449 99,397 100,606 Dilutive potential shares from stock options 1 2 1 1 Diluted weighted-average common shares outstanding 98,806 100,451 99,398 100,607 Earnings per share Net income attributable to Federated Common Stock – Basic and Diluted 2 $ 0.54 $ 0.42 $ 1.48 $ 1.17 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 shares 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 Nine Months Ended September 30, September 30, (in thousands, except per share data) 2016 2015 2016 2015 Numerator – Basic and Diluted Net income attributable to Federated Investors, Inc. $ 54,925 $ 44,131 $ 153,077 $ 122,197 Less: Total income available to participating unvested restricted shareholders 1 (2,035 ) (1,691 ) (5,987 ) (4,837 ) Total net income attributable to Federated Common Stock 2 $ 52,890 $ 42,440 $ 147,090 $ 117,360 Denominator Basic weighted-average common shares outstanding 98,805 100,449 99,397 100,606 Dilutive potential shares from stock options 1 2 1 1 Diluted weighted-average common shares outstanding 98,806 100,451 99,398 100,607 Earnings per share Net income attributable to Federated Common Stock – Basic and Diluted 2 $ 0.54 $ 0.42 $ 1.48 $ 1.17 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 shares 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)	9 Months Ended
	Sep. 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)/Income 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 (4,140 ) (597 ) (4,670 ) Tax impact (25 ) 1,529 209 1,713 Reclassification adjustments, before tax 358 1,342 0 1,700 Tax impact (131 ) (495 ) 0 (626 ) Net current-period other comprehensive income (loss) 269 (1,764 ) (388 ) (1,883 ) Balance at September 30, 2015 $ 0 $ (2,890 ) $ (655 ) $ (3,545 ) Balance at December 31, 2015 $ 0 $ (3,795 ) $ (814 ) $ (4,609 ) Other comprehensive income (loss) before reclassifications and tax 0 4,185 (497 ) 3,688 Tax impact 0 (1,512 ) 173 (1,339 ) Reclassification adjustments, before tax 3 0 2,632 0 2,632 Tax impact 3 0 (966 ) 0 (966 ) Net current-period other comprehensive income (loss) 0 4,339 (324 ) 4,015 Balance at September 30, 2016 $ 0 $ 544 $ (1,138 ) $ (594 ) 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 Gain (loss) 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	9 Months Ended
	Sep. 30, 2016	Jun. 30, 2016	Sep. 30, 2015	Jun. 30, 2016	Sep. 30, 2016	Sep. 30, 2015	Jan. 01, 2016	Dec. 31, 2015
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Investments—affiliates	$ 129,208				$ 129,208			$ 141,748
Redeemable noncontrolling interest in subsidiaries	29,945				29,945			8,734
Total investments using NAV practical expedient	91,898				91,898			31,759	[1]
Income tax provision	32,597		$ 26,072		91,128	$ 74,633
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	$ 1,200				$ 1,200			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	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2016
BNYMellonCorporation [Member] | Customer Concentration Risk [Member]
Concentration Risk, Percentage	15.00%	15.00%
Federated Strategic Value Dividend Fund [Member] | Product Concentration Risk [Member]
Concentration Risk, Percentage	11.00%	9.00%

Concentration Risk Schedule of

Concentration Risk Schedule of Revenue Concentration (Details) - Product Concentration Risk [Member]	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Money Market Funds [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	46.00%	32.00%
Equity Funds [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	38.00%	47.00%
Fixed Income Funds [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	16.00%	21.00%

Concentration Risk Voluntary Fe

Concentration Risk Voluntary Fee Waivers (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Concentration Risk [Line Items]
Revenue	$ (18)	$ (83.3)	$ (76.8)	$ (261.6)
Less: Reduction in Distribution expense	13.8	61.3	58.2	186.1
Operating income	(4.2)	(22)	(18.6)	(75.5)
Less: Reduction in Noncontrolling interests	0	1.7	0	6
Pre-tax impact	$ (4.2)	$ (20.3)	$ (18.6)	$ (69.5)

Consolidation Narrative (Detail

Consolidation Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2016	Dec. 31, 2015
Variable Interest Entities [Line Items]
Accounts receivable from Federated Funds	$ 22,700	$ 22,700	$ 16,900
Total Waived Fees	101,200	322,000
Investments - consolidated investment companies	58,977	58,977	25,368
Federated's net interest in the consolidated Federated Fund VIEs	17,000	17,000	17,000
Nonredeemable noncontrolling interest in subsidiary	1,233	1,233	1,156
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	27,400	27,400	8,700
Liabilities	1,200	1,200	3,000
VIE maximum risk of loss	17,000	17,000	17,000
Variable Interest Entity, Primary Beneficiary, Aggregated Disclosure [Member] | Cash and Cash Equivalents [Member]
Variable Interest Entities [Line Items]
Consolidated VIE assets	0	0	3,100
Consolidated Voting Rights Entities [Member]
Variable Interest Entities [Line Items]
Investments - consolidated investment companies	14,200	14,200
Redeemable noncontrolling interest in subsidiaries	$ 2,500	$ 2,500
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	$ 4,400	$ 4,400
Nonredeemable noncontrolling interest in subsidiary	1,200	1,200
General Partnership and VIE [Member] | Cash and Cash Equivalents [Member] | Passport [Member]
Variable Interest Entities [Line Items]
Consolidated VIE assets	6,900	6,900
Non-Consolidated Variable Interest Entity, Not Primary Beneficiary [Member]
Variable Interest Entities [Line Items]
VIE maximum risk of loss	1,500	1,500	301,500
VIE investment	1,500	1,500	301,500
AUM for nonconsolidated Federated Funds	22,600	22,600	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	75,400	240,300
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	Sep. 30, 2016	Dec. 31, 2015
Variable Interest Entity [Line Items]
Investments—consolidated investment companies	$ 58,977	$ 25,368
Federated's net interest in the consolidated Federated Fund VIEs	17,000	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	1,200	3,000
Less: Redeemable noncontrolling interest in subsidiaries	27,400	8,700
Cash and Cash Equivalents [Member] | Variable Interest Entity, Primary Beneficiary, Aggregated Disclosure [Member]
Variable Interest Entity [Line Items]
Consolidated VIE assets	0	3,100
Trade Accounts Receivable [Member] | Variable Interest Entity, Primary Beneficiary, Aggregated Disclosure [Member]
Variable Interest Entity [Line Items]
Consolidated VIE assets	$ 800	$ 200

Investments Narrative (Details)

Investments Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Schedule of Investments [Line Items]
Available-for-sale equity securities	$ 129,208	$ 141,748
Trading Securities	66,200	32,400
Domestic Debt Securities [Member]
Schedule of Investments [Line Items]
Trading Securities	47,100	9,000
Mutual Fund [Member]
Schedule of Investments [Line Items]
Trading Securities	9,000	11,000
Equity Securities [Member]
Schedule of Investments [Line Items]
Trading Securities	$ 6,200	$ 10,500

Investments Available-For-Sale

Investments Available-For-Sale Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Cost	$ 128,396	$ 147,753
Gross unrealized gains	1,779	451
Gross unrealized losses	(967)	(6,456)
Available-for-sale equity securities	129,208	141,748
Equity Funds [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost	23,649	32,357
Gross unrealized gains	1,623	342
Gross unrealized losses	(58)	(2,416)
Available-for-sale equity securities	25,214	30,283
Fixed-Income Funds [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost	104,747	115,396
Gross unrealized gains	156	109
Gross unrealized losses	(909)	(4,040)
Available-for-sale equity securities	$ 103,994	$ 111,465

Investments Gain (Loss) on Sec

Investments Gain (Loss) on Securities, Net of Investment Income (Details) - USD ($) $ in Thousands		3 Months Ended			9 Months Ended
		Sep. 30, 2016		Sep. 30, 2015	Sep. 30, 2016		Sep. 30, 2015
Gain (Loss) on Investments [Line Items]
Gain (loss) on securities, net	[1]	$ 2,032		$ (4,292)	$ 2,553		$ (5,526)
Proceeds from redemptions of available-for-sale securities		7,829		0	7,980		1
Trading Securities [Member]
Gain (Loss) on Investments [Line Items]
Unrealized gain (loss) on trading securities		1,684		(903)	5,410		(1,485)
Realized gains	[2]	472		224	1,058		739
Realized losses	[2]	(273)		(1,547)	(2,048)		(2,371)
Derivatives [Member]
Gain (Loss) on Investments [Line Items]
Unrealized gain (loss) on derivatives	[3]	315		148	11		122
Realized gains	[2],[3]	28		17	583		313
Realized losses	[2],[3]	(460)		(889)	(1,107)		(1,502)
Available-for-sale Securities [Member]
Gain (Loss) on Investments [Line Items]
Realized gains	[2]	266	[4]	0	291	[4]	0
Realized losses	[2]	0	[4]	(1,342)	(1,645)	[4]	(1,342)
Consolidated Products [Member]
Gain (Loss) on Investments [Line Items]
Gain (loss) on securities, net		$ 1,600		$ (2,600)	$ 3,500		$ (3,700)
[1]	Amounts related to consolidated entities, primarily Federated Funds, totaled $1.6 million and $3.5 million for the three and nine months ended September 30, 2016, respectively, and $(2.6) million and $(3.7) million for the three and nine months ended September 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 $7.8 million and $8.0 million for the three and nine months ended September 30, 2016.

Fair Value Measurements Narrati

Fair Value Measurements Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Cash and cash equivalents	$ 185,104	$ 172,628
Money Market Funds [Member]
Cash and cash equivalents	$ 178,100	$ 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		Sep. 30, 2016	Dec. 31, 2015
Cash and cash equivalents		$ 185,104	$ 172,628
Cash and cash equivalents using NAV practical expedient		60,011
Available-for-sale equity securities		129,208	141,748
Available-for-sale equity securities using NAV practical expedient		26,244	24,326	[1]
Trading securities—equity		19,133	23,398
Trading securities—equity using NAV practical expedient		5,643	7,433	[1]
Trading securities—debt		47,063	9,041
Other assets	[2]	943	931
Total financial assets		381,451	347,746
Total investments using NAV practical expedient		91,898	31,759	[1]
Total financial liabilities	[3]	2,259	5,370
Level 1 [Member]
Cash and cash equivalents		125,093	172,628
Available-for-sale equity securities		102,964	117,422
Trading securities—equity		13,490	15,900
Trading securities—debt		0	0
Other assets	[2]	0	4
Total financial assets		241,547	305,954
Total financial liabilities	[3]	30	2,681
Level 2 [Member]
Cash and cash equivalents		0	0
Available-for-sale equity securities		0	0
Trading securities—equity		0	65
Trading securities—debt		47,063	9,041
Other assets	[2]	33	17
Total financial assets		47,096	9,123
Total financial liabilities	[3]	0	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	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Jun. 24, 2014
Borrowings under Term Loan	$ 197,625		$ 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	$ 19,125	$ 19,125
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	Sep. 30, 2016	Dec. 31, 2015	Jun. 24, 2014
Debt Disclosure [Abstract]
Term loan, weighted average interest rate	1.655%	1.555%
Term Loan	$ 197,625	$ 216,750	$ 255,000
Less: Short-term debt	25,500	25,500
Long-term debt	$ 172,125	$ 191,250

Share-Based Compensation Plans

Share-Based Compensation Plans (Details) - shares	3 Months Ended							9 Months Ended	12 Months Ended
	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Sep. 30, 2016	Dec. 31, 2015
Restricted Stock Granted in Period								529,660	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	0	5,700	0	0	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	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Oct. 27, 2016	Feb. 28, 2015
Purchase of treasury stock	$ 64,101	$ 36,845
Treasury Stock [Member]
Purchase of treasury stock	$ 64,101	$ 36,845
Class B [Member]
Number of shares authorized under share repurchase program			4	4
Repurchased shares	2.3
Remaining number of shares authorized to be repurchased	0.6
SharesRepurchasedInOpenMarket [Member] | Class B [Member]
Repurchased shares	2.2

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		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Net income attributable to Federated Investors, Inc.		$ 54,925	$ 44,131	$ 153,077	$ 122,197
Less: Total income available to participating unvested restricted shareholders, basic	[1]	(2,035)	(1,691)	(5,987)	(4,837)
Less: Total income available to participating unvested restricted shareholders, diluted	[1]	(2,035)	(1,691)	(5,987)	(4,837)
Total net income attributable to Federated Common Stock, basic	[2]	52,890	42,440	147,090	117,360
Total net income attributable to Federated Common Stock, diluted	[2]	$ 52,890	$ 42,440	$ 147,090	$ 117,360
Basic weighted-average common shares outstanding		98,805	100,449	99,397	100,606
Dilutive potential shares from stock options		1	2	1	1
Diluted weighted-average common shares outstanding		98,806	100,451	99,398	100,607
Net income attributable to Federated Common Stock - Basic and Diluted	[2]	$ 0.54	$ 0.42	$ 1.48	$ 1.17
[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 shares 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	Sep. 30, 2016	Jan. 31, 2015	Dec. 01, 2008
Operating lease, future minimum payments due, current		$ 2
Operating lease, future minimum payments due, year two		6
Operating lease, future minimum payments due, year three		6
Operating leases, future minimum payments due, year four		6
Operating leases, future minimum payments due, year five		6
Operating lease, future minimum payments, due thereafter		75
Compensation-related payments in connection with significant employment and incentive arrangements		30
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

Accumulated Other Comprehensi46

Accumulated Other Comprehensive (Loss) Income Attributable to Federated Investors, Inc. Shareholders (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2016		Sep. 30, 2015	Jan. 01, 2016
Accumulated other comprehensive loss, net of tax		$ (4,609)		$ (1,662)
Other comprehensive income (loss) before reclassifications and tax		3,688		(4,670)
Other comprehensive income (loss) before reclassifications, tax total		(1,339)		1,713
Reclassification adjustments, before tax		2,632		1,700
Reclassification adjustment, tax total		(966)		(626)
Net current-period other comprehensive income (loss)		4,015		(1,883)
Accumulated other comprehensive loss, net of tax		(594)		(3,545)
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) Income 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]	4,185		(4,140)
Other comprehensive income (loss) before reclassifications, tax total	[2]	(1,512)		1,529
Reclassification adjustments, before tax	[2]	2,632	[3]	1,342
Reclassification adjustment, tax total	[2]	(966)	[3]	(495)
Net current-period other comprehensive income (loss)	[2]	4,339		(1,764)
Accumulated other comprehensive loss, net of tax	[2]	544		(2,890)
Foreign Currency Translation Loss [Member]
Accumulated other comprehensive loss, net of tax		(814)		(267)
Other comprehensive income (loss) before reclassifications and tax		(497)		(597)
Other comprehensive income (loss) before reclassifications, tax total		173		209
Reclassification adjustments, before tax		0		0
Reclassification adjustment, tax total		0		0
Net current-period other comprehensive income (loss)		(324)		(388)
Accumulated other comprehensive loss, net of tax		$ (1,138)		$ (655)
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 Gain (loss) 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) - $ / shares shares in Millions	Oct. 27, 2016	Feb. 28, 2015
Common Class B [Member]
Number of shares authorized under share repurchase program	4	4
Subsequent Event [Member]
Dividend declared	$ 1.25
Quarterly Dividend [Member] | Subsequent Event [Member]
Dividend declared	0.25
Special Dividend [Member] | Subsequent Event [Member]
Dividend declared	$ 1