Federated Hermes (FHI) 10-Q 31 Jul 19 2019 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2019	Jul. 24, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2019
Entity File Number	001-14818
Entity Registrant Name	Federated Investors, Inc.
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	25-1111467
Entity Address, Address Line One	Federated Investors Tower
Entity Address, City or Town	Pittsburgh,
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	15222-3779
City Area Code	412
Local Phone Number	288-1900
Title of 12(b) Security	Class B common stock, no par value
Trading Symbol	FII
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001056288
Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		101,188,031
Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		9,000

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current Assets
Cash and Cash Equivalents	$ 179,961	$ 156,832
Investments—Consolidated Investment Companies	21,848	22,798
Investments—Affiliates and Other	25,201	10,860
Receivables, net of reserve of $4 and $50, respectively	46,686	60,094
Receivables—Affiliates	42,413	34,985
Prepaid Expenses	19,991	16,513
Other Current Assets	2,272	2,019
Total Current Assets	338,372	304,101
Long-Term Assets
Goodwill	769,689	809,608
Intangible Assets, net of accumulated amortization of $14,269 and $11,203, respectively	378,374	339,639
Property and Equipment, net of accumulated depreciation of $91,603 and $89,937, respectively	54,100	53,229
Right-of-Use Assets, net of accumulated amortization of $6,224	105,887
Other Long-Term Assets	41,628	37,106
Total Long-Term Assets	1,349,678	1,239,582
Total Assets	1,688,050	1,543,683
Current Liabilities
Accounts Payable and Accrued Expenses	65,493	56,110
Accrued Compensation and Benefits	65,099	113,865
Lease Liabilities	13,386
Other Current Liabilities	7,831	11,205
Total Current Liabilities	151,809	181,180
Long-Term Liabilities
Long-Term Debt	125,000	135,000
Long-Term Deferred Tax Liability, net	162,204	148,164
Long-Term Lease Liabilities	113,085
Other Long-Term Liabilities	21,436	39,705
Total Long-Term Liabilities	421,725	322,869
Total Liabilities	573,534	504,049
Commitments and Contingencies (Note (15))
TEMPORARY EQUITY
Redeemable Noncontrolling Interest in Subsidiaries	201,988	182,513
Federated Investors, Inc. Shareholders' Equity
Additional Paid-In Capital from Treasury Stock Transactions	103	0
Retained Earnings	826,119	791,823
Treasury Stock, at Cost, 8,294,433 and 8,702,074 Shares Class B Common Stock, respectively	(277,633)	(287,337)
Accumulated Other Comprehensive Income (Loss), net of tax	(16,492)	(14,617)
Total Permanent Equity	912,528	857,121
Total Liabilities, Temporary Equity and Permanent Equity	1,688,050	1,543,683
Class A
Federated Investors, Inc. Shareholders' Equity
Common Stock	189	189
Class B
Federated Investors, Inc. Shareholders' Equity
Common Stock	$ 380,242	$ 367,063

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Receivables, reserve	$ 4	$ 50
Intangible Assets, accumulated amortization	14,269	11,203
Property and Equipment, accumulated depreciation	91,603	$ 89,937
Right-of-Use Assets, accumulated amortization	$ 6,224
Treasury stock, shares (in shares)	8,294,433	8,702,074
Class A
Common stock, no par value (usd per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	20,000	20,000
Common stock, shares issued (in shares)	9,000	9,000
Common stock, shares outstanding (in shares)	9,000	9,000
Class B
Common stock, no par value (usd per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	900,000,000	900,000,000
Common stock, shares issued (in shares)	109,505,456	109,505,456

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenue
Total Revenue	$ 321,479	$ 255,993	$ 628,529	$ 519,845
Operating Expenses
Compensation and Related	107,248	74,147	218,464	152,521
Distribution	82,000	69,446	159,632	141,945
Systems and Communications	12,111	7,751	24,905	16,184
Office and Occupancy	11,066	7,365	22,428	14,906
Professional Service Fees	10,281	9,278	20,767	18,908
Advertising and Promotional	4,697	3,237	8,886	6,465
Travel and Related	4,459	3,523	8,307	6,344
Other	4,677	489	9,311	2,144
Total Operating Expenses	236,539	175,236	472,700	359,417
Operating Income	84,940	80,757	155,829	160,428
Nonoperating Income (Expenses)
Investment Income	949	2,192	1,979	4,092
Gain (Loss) on Securities, net	577	(815)	2,256	(1,997)
Debt Expense	(1,332)	(1,431)	(2,732)	(2,761)
Other, net	(832)	(28,974)	(508)	(29,117)
Total Nonoperating Income (Expenses), net	(638)	(29,028)	995	(29,783)
Income Before Income Taxes	84,302	51,729	156,824	130,645
Income Tax Provision	20,462	13,062	38,373	31,972
Net Income Including the Noncontrolling Interests in Subsidiaries	63,840	38,667	118,451	98,673
Less: Net Income (Loss) Attributable to the Noncontrolling Interests in Subsidiaries	1,116	(155)	1,181	(480)
Net Income	$ 62,724	$ 38,822	$ 117,270	$ 99,153
Amounts Attributable to Federated Investors, Inc.
Earnings Per Common Share—Basic and Diluted (usd per share)	$ 0.62	$ 0.38	$ 1.16	$ 0.98
Cash Dividends Per Share (usd per share)	$ 0.27	$ 0.27	$ 0.54	$ 0.52
Investment Advisory Fees, net—Affiliates
Revenue
Total Revenue	$ 166,301	$ 130,531	$ 321,908	$ 265,762
Investment Advisory Fees, net—Other
Revenue
Total Revenue	54,368	37,596	109,960	76,631
Administrative Service Fees, net—Affiliates
Revenue
Total Revenue	57,968	48,370	112,103	97,393
Other Service Fees, net—Affiliates
Revenue
Total Revenue	39,905	39,496	78,515	80,059
Other Service Fees, net—Other
Revenue
Total Revenue	$ 2,937	$ 0	$ 6,043	$ 0

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Net Income Including the Noncontrolling Interests in Subsidiaries	$ 63,840	$ 38,667	$ 118,451	$ 98,673
Permanent Equity
Foreign Currency Translation Gain (Loss)	(9,539)	(722)	(1,875)	(479)
Reclassification Adjustment Related to Foreign Currency Items	0	0	0	(191)
Reclassification Adjustment Related to Equity Securities	0	0	0	(29)
Temporary Equity
Foreign Currency Translation Gain (Loss)	(4,600)	0	(886)	0
Other Comprehensive Income (Loss), net of tax	(14,139)	(722)	(2,761)	(699)
Comprehensive Income Including the Noncontrolling Interests in Subsidiaries	49,701	37,945	115,690	97,974
Less: Comprehensive Income (Loss) Attributable to Redeemable Noncontrolling Interest in Subsidiaries	(3,484)	(155)	295	(480)
Comprehensive Income Attributable to Federated Investors, Inc.	$ 53,185	$ 38,100	$ 115,395	$ 98,454

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital from Treasury Stock Transactions	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Income (Loss), net of tax	Redeemable Noncontrolling Interest in Subsidiaries/ Temporary Equity
Balance, beginning of period at Dec. 31, 2017	$ 761,215	$ 343,378		$ 697,359	$ (278,732)	$ (790)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	60,331			60,331			$ (325)
Other Comprehensive Income (Loss), net of tax	277					277
Stock Award Activity	7,067	6,966		(10,721)	10,822
Dividends Declared	(25,265)			(25,265)
Purchase of Treasury Stock	(3,876)				(3,876)
Balance, end of period at Mar. 31, 2018	799,620	350,344		721,829	(271,786)	(767)
Balance, beginning of period, Temporary Equity at Dec. 31, 2017							30,163
Increase (Decrease) in Temporary Equity [Roll Forward]
Net Income	60,331			60,331			(325)
Other Comprehensive Income (Loss), net of tax	277					277
Subscriptions—Redeemable Noncontrolling Interest Holders							500
Distributions to Noncontrolling Interest in Subsidiaries							(1,684)
Balance, end of period, Temporary Equity at Mar. 31, 2018							28,654
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	38,822			38,822			(155)
Other Comprehensive Income (Loss), net of tax	(722)					(722)
Stock Award Activity	5,900	5,794		(567)	673
Dividends Declared	(27,331)			(27,331)
Purchase of Treasury Stock	(17,164)				(17,164)
Balance, end of period at Jun. 30, 2018	799,125	356,138		732,753	(288,277)	(1,489)
Increase (Decrease) in Temporary Equity [Roll Forward]
Net Income	38,822			38,822			(155)
Other Comprehensive Income (Loss), net of tax	(722)					(722)
Subscriptions—Redeemable Noncontrolling Interest Holders							663
Consolidation (Deconsolidation)							(1,751)
Distributions to Noncontrolling Interest in Subsidiaries							(6,427)
Balance, end of period, Temporary Equity at Jun. 30, 2018							20,984
Balance, beginning of period at Dec. 31, 2018	857,121	367,252	$ 0	791,823	(287,337)	(14,617)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	54,546			54,546			65
Other Comprehensive Income (Loss), net of tax	7,664					7,664	3,714
Stock Award Activity	7,110	7,110		(11,830)	11,830
Dividends Declared	(27,217)			(27,217)
Purchase of Treasury Stock	(1,485)				(1,485)
Balance, end of period at Mar. 31, 2019	897,739	374,362	0	807,322	(276,992)	(6,953)
Balance, beginning of period, Temporary Equity at Dec. 31, 2018							182,513
Increase (Decrease) in Temporary Equity [Roll Forward]
Net Income	54,546			54,546			65
Other Comprehensive Income (Loss), net of tax	7,664					7,664	3,714
Subscriptions—Redeemable Noncontrolling Interest Holders							42
Stock Award Activity							2,126
Distributions to Noncontrolling Interest in Subsidiaries							(2,260)
Balance, end of period, Temporary Equity at Mar. 31, 2019							186,200
Balance, beginning of period at Dec. 31, 2018	857,121	367,252	0	791,823	(287,337)	(14,617)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Purchase of Treasury Stock					(2,200)
Balance, end of period at Jun. 30, 2019	912,528	380,431	103	826,119	(277,633)	(16,492)
Balance, beginning of period, Temporary Equity at Dec. 31, 2018							182,513
Balance, end of period, Temporary Equity at Jun. 30, 2019							201,988
Balance, beginning of period at Mar. 31, 2019	897,739	374,362	0	807,322	(276,992)	(6,953)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	62,724			62,724			1,116
Other Comprehensive Income (Loss), net of tax	(9,539)					(9,539)	(4,600)
Stock Award Activity	6,240	6,069	103		68
Dividends Declared	(27,323)			(27,323)
Business Acquisition	0			0
Change in Estimated Redemption Value of Redeemable Noncontrolling Interests	(16,604)			(16,604)			16,604
Purchase of Treasury Stock	(709)				(709)
Balance, end of period at Jun. 30, 2019	912,528	$ 380,431	$ 103	826,119	$ (277,633)	(16,492)
Balance, beginning of period, Temporary Equity at Mar. 31, 2019							186,200
Increase (Decrease) in Temporary Equity [Roll Forward]
Net Income	62,724			62,724			1,116
Other Comprehensive Income (Loss), net of tax	(9,539)					$ (9,539)	(4,600)
Subscriptions—Redeemable Noncontrolling Interest Holders							1,822
Stock Award Activity							1,773
Distributions to Noncontrolling Interest in Subsidiaries							(541)
Business Acquisition							(386)
Change in Estimated Redemption Value of Redeemable Noncontrolling Interests	$ (16,604)			$ (16,604)			16,604
Balance, end of period, Temporary Equity at Jun. 30, 2019							$ 201,988

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Operating Activities
Net Income Including the Noncontrolling Interests in Subsidiaries	$ 118,451	$ 98,673
Adjustments to Reconcile Net Income to Net Cash Provided (Used) by Operating Activities
Amortization of Deferred Sales Commissions	1,130	1,614
Depreciation and Other Amortization	12,451	5,343
Share-Based Compensation Expense	13,188	12,768
Subsidiary Share-Based Compensation Expense	3,899	0
(Gain) Loss on Disposal of Assets	691	(509)
Provision (Benefit) for Deferred Income Taxes	5,338	5,610
Loss on Derivative	0	28,978
Net Unrealized (Gain) Loss on Investments	(2,926)	2,549
Net Sales of Investments—Consolidated Investment Companies	1,901	7,743
Other Changes in Assets and Liabilities:
(Increase) Decrease in Receivables, net	5,929	8,771
(Increase) Decrease in Prepaid Expenses and Other Assets	(2,116)	(6,807)
Increase (Decrease) in Accounts Payable and Accrued Expenses	(42,998)	(30,446)
Increase (Decrease) in Other Liabilities	(2,515)	2,099
Net Cash Provided (Used) by Operating Activities	112,423	136,386
Investing Activities
Purchases of Investments—Affiliates and Other	(15,362)	(2,515)
Cash Paid for Business Acquisitions, Net of Cash Acquired	785	0
Proceeds from Redemptions of Investments—Affiliates and Other	1,911	2,419
Cash Paid for Property and Equipment	(8,864)	(5,397)
Net Cash Provided (Used) by Investing Activities	(21,530)	(5,493)
Financing Activities
Dividends Paid	(54,549)	(52,604)
Purchases of Treasury Stock	(2,194)	(20,374)
Distributions to Noncontrolling Interest in Subsidiaries	(2,801)	(8,111)
Contributions from Noncontrolling Interest in Subsidiaries	1,864	1,163
Proceeds from New Borrowings	8,800	18,000
Payments on Debt	(18,800)	(10,000)
Other Financing Activities	171	(21)
Net Cash Provided (Used) by Financing Activities	(67,509)	(71,947)
Effect of Exchange Rates on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	(246)	0
Net Increase (Decrease) in Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	23,138	58,946
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Beginning of Period	157,426	316,809
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, End of Period	180,564	375,755
Less: Restricted Cash and Restricted Cash Equivalents Recorded in Other Long-Term Assets	603	583
Cash and Cash Equivalents	$ 179,961	$ 375,172

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Federated Investors, Inc. and its consolidated subsidiaries, including Hermes Fund Managers Limited ( Hermes ) beginning July 1, 2018 , (collectively, Federated ) provides investment advisory, administrative, distribution and other services to various investment products, including sponsored investment companies and other funds ( Federated Funds ) and Separate Accounts (which include separately managed accounts, institutional accounts, sub-advised funds and other managed products) in both domestic and international markets, as well as stewardship services to various companies. The interim Consolidated Financial Statements of 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, 2018

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2019
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements (a) Recently Adopted Accounting Guidance Leases On February 25, 2016, the Financial Accounting Standards Board ( FASB ) issued Accounting Standards Update ( ASU ) 2016-02, Leases (Topic 842). Its core principle is that a lessee should recognize the assets and liabilities that arise from leases on the balance sheet, while retaining a distinction between financing and operating leases. In the third quarter of 2018, the FASB issued ASU 2018-10, which provides improvements to narrow aspects of the guidance and ASU 2018-11, which provides an optional alternative transition method to initially apply the new leases standard at the adoption date (collectively, with ASU 2016-02, Topic 842). Effective January 1, 2019, Federated adopted Topic 842 using the alternative transition method, which did not require the restatement of prior years. In connection with the adoption of Topic 842, management has elected the package of practical expedients, which allows entities to not reassess (1) whether contracts are or contain leases, (2) lease classification and (3) initial direct costs. Management did not elect the hindsight practical expedient to determine the lease term. Upon adoption, Federated recorded $133.7 million as a lease liability and, after the reclassification of certain lease-related liabilities into the right-of-use (ROU) asset, $112.2 million as a ROU asset on the Consolidated Balance Sheets, which consists primarily of Federated's operating real estate leases. The adoption did not have a material impact on Federated's results of operations or cash flows. Goodwill Impairment During the second quarter 2019, Federated adopted ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, effective January 1, 2019. Under this ASU, an entity should perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount, and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value. However, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, the ASU retains the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. The ASU required the prospective adoption method. The adoption did not have an impact to Federated's Consolidated Financial Statements. (b) Recently Issued Accounting Guidance Not Yet Adopted Credit Losses On June 16, 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The amendments in this update replace the incurred loss impairment methodology with a current expected credit loss (CECL) model. CECL requires an entity to estimate lifetime expected credit losses based on relevant information about historical events, current conditions and reasonable and supportable forecasts. The update is effective for Federated on January 1, 2020. While early adoption is permitted, Federated does not plan to early adopt in 2019. The update requires the modified retrospective adoption method. Management is currently evaluating the potential impact of adoption to Federated's Consolidated Financial Statements. Fair Value Measurement On August 28, 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement. The amendments in this update remove, modify or add disclosure requirements for fair value measurements to improve the effectiveness of disclosures. The update is effective for Federated on January 1, 2020, with early adoption permitted, and allows for either the prospective or retrospective adoption method. Management is currently evaluating the potential impact of adoption to Federated's Consolidated Financial Statements. Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement On August 29, 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (a consensus of the FASB Emerging Issues Task Force). The amendments in this update align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The update is effective for Federated on January 1, 2020, with early adoption permitted, and allows for either the prospective or retrospective adoption method. Management plans to elect the prospective adoption approach, which does not require the restatement of prior years. Management is currently evaluating the potential impact of adoption to Federated's Consolidated Financial Statements.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies As a result of the adoption of Topic 842 , the following 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, 2018 . Leases Prior to the adoption of Topic 842, Federated classified leases as either capital or operating in accordance with the provisions of Topic 840. All leases for the periods presented prior to January 1, 2019 were classified as operating leases. Rent expense under noncancelable operating leases with scheduled rent increases or rent holidays was accounted for on a straight-line basis over the lease term, beginning on the date of initial possession or the effective date of the lease agreement. The amount of the excess of straight-line rent expense over scheduled payments was recorded as a deferred liability. The liability was then reduced when scheduled payments were in excess of the straight-line rent expense. Build-out allowances and other such lease incentives were recorded as deferred credits, and were amortized on a straight-line basis as a reduction of rent expense beginning in the period they were deemed to have been earned, which generally coincided with the effective date of the lease. The current portion of remaining deferred lease costs and unamortized build-out allowances was included in Other Current Liabilities and the long-term portion was included in Other Long-Term Liabilities on the Consolidated Balance Sheets as of and prior to December 31, 2018. Following the adoption of Topic 842, Federated classifies leases as either operating or financing in accordance with the provisions of Topic 842, and records a ROU asset and a lease liability on the Consolidated Balance Sheets. The lease liability is initially measured at the present value of the unpaid lease payments remaining at the lease commencement date. The ROU asset is initially measured as the lease liability, adjusted for lease payments made prior to the lease commencement date and lease incentives received. In accordance with Topic 842 and Property and Equipment impairment guidance, ROU assets are reviewed for impairment when events or circumstances indicate that the carrying amount may not be recoverable. In determining the present value of the lease liability, Topic 842 requires a lessee to use the interest rate implicit in the lease or, if that rate is not readily determinable, its incremental borrowing rate (IBR). All leases for the periods presented are classified as operating leases. Management has made the following accounting policy elections: (1) not to separate lease components from non-lease components for all asset classes and (2) to apply the short-term lease exception, which does not require the capitalization of leases with terms of 12 months or less. Rent expense is recorded on a straight-line basis over the lease term, beginning on the earlier of the effective date of the lease or the date Federated obtains control of the asset. The lease term may include options to extend the lease when they are reasonably certain of being exercised. Management judgments are used when reviewing new and/or materially-modified contracts to determine (1) whether the contract is, or contains, a lease, and (2) the IBR. Management was unable to determine the rates implicit in Federated's leases based on the information available at the commencement date, therefore, management calculated an IBR for each lease. In order to calculate the IBR, management began with readily observable unsecured rates, and adjusted for the following assumptions: (1) collateralization, (2) length remaining in the lease and (3) the type of ROU asset.

Business Combinations

Business Combinations	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Business Combinations	Business Combinations On July 2, 2018, Federated completed, effective as of July 1, 2018 , the acquisition of a controlling interest in Hermes ( Hermes Acquisition ). The addition of London-based Hermes provides the opportunity to further accelerate Federated's growth in markets outside of the U.S. BT Pension Scheme ( BTPS ) retained a 29.5 percent interest in Hermes and contributed the remaining 10.5 percent interest into an Employee Benefit Trust ( EBT ) for the benefit of certain members of Hermes' management and other key employees under a long-term incentive plan ( LTIP ). Federated paid $343.5 million (which consists of $344.3 million paid in 2018 offset by $0.8 million received in the second quarter of 2019). Federated funded the transaction through a combination of cash and an $18.0 million drawdown from its existing revolving credit facility (see Note (11) for additional information). Federated and BTPS entered into a Put and Call Option Deed pursuant to which Federated has a right to exercise a call option to acquire BTPS 's remaining 29.5 percent interest in Hermes at fair value and BTPS has a right to exercise a put option to sell its remaining interest in Hermes to Federated at fair value, after the third, fourth or fifth anniversaries, and subject to certain contingencies, the sixth anniversary, of the date of the purchase agreement. Federated does not consider BTPS 's 29.5 percent noncontrolling interest in Hermes to be permanent equity, due to it being redeemable at the option of either BTPS or Federated and, therefore, is not entirely within Federated's control. Hermes granted equity awards from the EBT in the form of restricted nonpublic subsidiary stock pursuant to the LTIP to certain members of Hermes management and other key employees. These awards, which are subject to continued service vesting requirements, vest over a period of three to five years . At various predetermined dates, but no earlier than 9 months after vesting, award holders have a right to exercise a put option to sell shares to Federated at fair value and Federated has a right to exercise a call option to acquire shares at fair value. The grant date fair value of the awards is recognized as Compensation and Related expense in the Consolidated Statements of Income over the relevant vesting periods, with a corresponding adjustment to Redeemable Noncontrolling Interest in Subsidiaries in the Consolidated Balance Sheets . As a result of the grant of the equity awards in a nonpublic consolidated subsidiary under the terms of the LTIP and EBT , the shares are not included in the attribution of the subsidiary's income and losses to noncontrolling interest holders until the awards vest. Therefore, Federated initially recognized the fair value of 33 percent of Hermes as Redeemable Noncontrolling Interest in Subsidiaries on the Consolidated Balance Sheets . The attribution of the subsidiary's income and loss is recognized in Net Income (Loss) Attributable to the Noncontrolling Interests in Subsidiaries on the Consolidated Statements of Income and is expected to fluctuate as the LTIP awards vest and put/call options are exercised. Federated's diluted earnings per share calculation is adjusted for the proportionate share of net income related to the unvested equity awards in a nonpublic consolidated subsidiary (see Note (14) for additional information). During the second quarter 2019, the Redeemable Noncontrolling Interest in Subsidiaries carrying value was adjusted by $16.6 million to the current redemption value assuming the Hermes noncontrolling interest was redeemable at the balance sheet date. The noncontrolling interest was adjusted through a corresponding adjustment to retained earnings. Management, assisted by a third party valuation specialist, estimated the current redemption values using three methodologies: 1) the discounted cash flow methodology under the income approach, 2) the guideline public company methodology under the market approach and 3) the guideline public transaction methodology under the market approach. The estimated current redemption value was derived from equally weighing the result of each of the three methodologies. As of June 30, 2019 , Redeemable Noncontrolling Interest in Subsidiaries related to Hermes was $190.3 million . Federated performed a valuation of the fair market value of the Hermes Acquisition . Provisional amounts must be finalized within a one-year measurement period. During the second quarter 2019, provisional amounts recognized for certain Intangible Assets and Other Long-Term Assets were adjusted to reflect facts and circumstances that existed as of the acquisition date. The adjustments were primarily the result of changes to the forecast revenue allocated to certain acquired assets based on review of actual fund and separate account revenue rates. Intangible Assets and Other Long-Term Assets increased $43.8 million and $5.0 million , respectively. Primarily as a result of these adjustments, the Long-Term Deferred Tax Liability increased by $8.2 million and Goodwill decreased by $41.8 million . There was no material change to the Consolidated Statements of Income for the three- and six -month periods ended June 30, 2019 as a result of these adjustments. The following table summarizes the final purchase price allocation: (in millions) Cash and Cash Equivalents $ 175.8 Other Current Assets 1 53.7 Goodwill 2 114.1 Intangible Assets 3 320.0 Other Long-Term Assets 4 40.1 Less: Long-Term Deferred Tax Liability, net (28.7 ) Less: Liabilities Acquired 5 (162.3 ) Less: Fair Value of Redeemable Noncontrolling Interest in Subsidiary 6 (169.2 ) Total Purchase Price Consideration $ 343.5 1 Includes $31.9 million of receivables, all of which has been collected as of June 30, 2019 . 2 The goodwill recognized is attributable to enhanced revenue and AUM growth opportunities from future investors and the assembled workforce of Hermes. In this instance, goodwill is not deductible for tax purposes. 3 Includes $71.6 million for customer relationships with a weighted-average useful life of 8.5 years , $198.5 million for indefinite-lived renewable investment advisory contracts and $49.9 million for an indefinite-lived trade name, all of which are recorded in Intangible Assets, net on the Consolidated Balance Sheets . 4 Includes $11.2 million of Property and Equipment, net. 5 Includes $130.3 million related to Accrued Compensation and Benefits . 6 The fair value of the noncontrolling interest was determined utilizing the market approach and consideration of the overall business enterprise value. The financial results of Hermes have been included in Federated's Consolidated Financial Statements from the July 1, 2018 effective date of the acquisition. For the three and six months ended June 30, 2019 , Hermes earned revenue of $48.3 million and $96.6 million , respectively, and net income of $2.1 million and $2.5 million , respectively (which excludes acquisition-related intangible amortization and amounts attributable to the noncontrolling interests). The following table summarizes unaudited pro forma financial information assuming the Hermes Acquisition occurred at the beginning of the period presented. This pro forma financial information is for informational purposes only and is not indicative of actual results that would have occurred had the Hermes Acquisition been completed on the assumed date and it is not indicative of future results. In addition, the following pro forma financial information does not reflect the realization of any cost savings (nor does management expect to realize any cost savings) or other synergies from the Hermes Acquisition . The pro forma results include adjustments for the effect of acquisition-related expenses (including compensation and related expense, income tax expense and amortization related to newly acquired intangibles) as well as adjustments to conform to Federated's U.S. GAAP accounting policies. Three Months Ended Six Months Ended (in millions) June 30, 2018 June 30, 2018 Revenue $ 307.4 $ 614.7 Net Income 1 $ 60.2 $ 120.3 1 The three and six months ended June 30, 2018 exclude a $29.0 million loss on foreign currency forward transactions entered into in order to hedge against foreign exchange rate fluctuations associated with the payment for the Hermes Acquisition.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers The following table presents Federated's revenue disaggregated by asset class: Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2019 2018 2019 2018 Equity $ 134,035 $ 102,089 $ 257,669 $ 205,698 Money Market 123,136 98,923 240,443 203,406 Fixed-Income 44,782 44,497 88,459 89,545 Other 1 19,526 10,484 41,958 21,196 Total Revenue $ 321,479 $ 255,993 $ 628,529 $ 519,845 1 Includes Alternative / Private Markets (including but not limited to private equity, real estate and infrastructure), Multi-Asset and, beginning in the third quarter of 2018, stewardship services revenue. The following table presents Federated's revenue disaggregated by performance obligation: Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2019 2018 2019 2018 Asset Management 1 $ 220,669 $ 168,127 $ 431,868 $ 342,393 Administrative Services 57,968 48,370 112,103 97,393 Distribution 2 37,196 36,923 73,442 74,980 Other 3 5,646 2,573 11,116 5,079 Total Revenue $ 321,479 $ 255,993 $ 628,529 $ 519,845 1 The performance obligation may include administrative, distribution and other services recorded as a single asset management fee under Topic 606 , as it is part of a unitary fee arrangement with a single performance obligation. 2 The performance obligation is satisfied at a point in time and may include contingent deferred sales charges and upfront commissions. A portion of this revenue relates to a performance obligation that has been satisfied in a prior period. 3 Includes shareholder service fees and, beginning in the third quarter of 2018, stewardship services revenue. The following table presents Federated's revenue disaggregated by geographical market: Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2019 2018 2019 2018 Domestic $ 265,893 $ 248,872 $ 518,283 $ 504,964 Foreign 1 55,586 7,121 110,246 14,881 Total Revenue $ 321,479 $ 255,993 $ 628,529 $ 519,845 1 This represents revenue earned by non-U.S. domiciled subsidiaries. The following table presents Federated's revenue disaggregated by product type: Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2019 2018 2019 2018 Federated Funds $ 264,174 $ 218,396 $ 512,527 $ 443,213 Separate Accounts 54,368 37,597 109,959 76,632 Other 1 2,937 0 6,043 0 Total Revenue $ 321,479 $ 255,993 $ 628,529 $ 519,845 1 Includes stewardship services revenue. Federated is not required to disclose certain estimates of revenue expected to be recorded in future periods as a result of applying the following exemptions: (1) contract terms are short-term in nature (i.e., expected duration of one year or less due to termination provisions) and (2) the expected variable consideration would be allocated entirely to future service periods. Federated expects to recognize revenue in the future related to the unsatisfied portion of the stewardship services performance obligations at June 30, 2019 . Generally, contracts are billed in arrears on a quarterly basis and have a three year duration, after which the customer can terminate the agreement with a three to twelve month notice. Based on existing contracts and the exchange rates as of June 30, 2019 , Federated may recognize future fixed revenue from stewardship services as presented in the following table: (in thousands) Remainder of 2019 $ 5,031 2020 4,032 2021 1,989 2022 and Thereafter 749 Total Remaining Unsatisfied Performance Obligations $ 11,801

Concentration Risk

Concentration Risk	6 Months Ended
	Jun. 30, 2019
Risks and Uncertainties [Abstract]
Concentration Risk	Concentration Risk (a) Revenue Concentration by Asset Class The following table presents Federated's revenue concentration by asset class: Six Months Ended June 30, 2019 2018 Equity Assets 41 % 40 % Money Market Assets 38 % 39 % Fixed-Income Assets 14 % 17 % The change in the relative proportion of Federated's revenue attributable to equity assets for the six months ended June 30, 2019 , as compared to the same period in 2018 , was primarily the result of higher average equity assets mostly as a result of the July 2018 Hermes Acquisition . Because the Hermes Acquisition was primarily comprised of equity assets and alternative/private markets assets, the relative proportion of Federated's revenue attributable to money market and fixed-income assets decreased for the six months ended 2019 as compared to the same period in 2018 . (b) Revenue Concentration by Investment Strategy/Fund The following table presents Federated's revenue concentration by investment strategy/fund: Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 Federated Strategic Value Dividend strategy 1 11 % 16 % 11 % 17 % Federated Government Obligations Fund 9 % 10 % 9 % 10 % Federated Kaufmann Mid-Cap Growth strategy 2 9 % 11 % 9 % 11 % 1 Strategy includes Federated Funds and Separate Accounts . 2 Strategy includes Federated Funds . A significant and prolonged decline in the AUM in these strategies/fund could have a material adverse effect on Federated's future revenues and, to a lesser extent, net income, due to a related reduction in distribution expenses associated with the Federated Funds managed in accordance with these strategies/fund. (c) Revenue Concentration by Intermediary Approximately 11% of Federated's total revenue for both the three- and six-month period s ended June 30, 2019 and 14% for both the three- and six-month period s ended June 30, 2018 was derived from services provided to one intermediary, The Bank of New York Mellon Corporation, including its Pershing subsidiary. Significant negative changes in Federated's relationship with this intermediary could have a material adverse effect on Federated's future revenues and, to a lesser extent, net income due to a related reduction in distribution expenses associated with this intermediary.

Consolidation

Consolidation	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation	Consolidation The Consolidated Financial Statements include the accounts of Federated, which include Hermes, 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 voting rights entities ( VRE s) or variable interest entities ( VIE s). 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, and/or receivables from, these Federated Funds represents its maximum exposure to loss. The assets of each consolidated Federated Fund 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. In the ordinary course of business, Federated may implement Fee Waivers for various Federated Funds for competitive, regulatory or contractual reasons. For the three and six months ended June 30, 2019 , Fee Waivers totaled $101.7 million and $200.5 million , respectively, of which $73.7 million and $141.8 million , respectively, related to money market funds which meet the scope exception of the consolidation guidance. For the three and six months ended June 30, 2018 , Fee Waivers totaled $88.1 million and $175.5 million , respectively, of which $59.6 million and $117.5 million , respectively, related to money market funds which meet the scope exception of the consolidation guidance. Like other sponsors of investment companies, Federated in the ordinary course of business may make capital contributions to certain money market Federated Funds in connection with the reorganization of such funds into certain affiliated money market Federated Funds or in connection with the liquidation of a money market Federated Fund . In these instances, such capital contributions typically are intended to either offset realized losses or other permanent impairments to a fund's net asset value ( NAV ), increase the market-based NAV per share of the fund's portfolio that is being reorganized to equal the market-based NAV per share of the acquiring fund or to bear a portion of expenses relating to a fund liquidation. Under current money fund regulations and Securities and Exchange Commission ( SEC ) guidance, Federated is required to report these types of capital contributions to U.S. money market mutual funds to the SEC as financial support to the investment company that is being reorganized or liquidated. There were no contributions for the three and six months ended June 30, 2019 or June 30, 2018 . 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 as of June 30, 2019 and December 31, 2018 . (a) Consolidated Voting Rights Entities Most of the Federated Funds meet the definition of a VRE. Federated consolidates VREs when it is deemed to have control. Consolidated VREs are reported on Federated's Consolidated Balance Sheets primarily in Investments—Consolidated Investment Companies and Redeemable Noncontrolling Interest in Subsidiaries . (b) Consolidated Variable Interest Entities As of June 30, 2019 and December 31, 2018 , Federated was deemed to be the primary beneficiary of, and therefore consolidated, certain Federated Funds as a result of its controlling financial interest. The following table presents the balances related to the consolidated Federated Fund VIEs that were included on the Consolidated Balance Sheets as well as Federated's net interest in the consolidated Federated Fund VIEs for each period presented: (in millions) June 30, 2019 December 31, 2018 Investments—Consolidated Investment Companies $ 13.6 $ 21.2 Receivables 0.4 0.4 Less: Liabilities 0.3 0.3 Less: Redeemable Noncontrolling Interest in Subsidiaries 9.5 11.2 Federated's Net Interest in Federated Fund VIEs $ 4.2 $ 10.1 Federated's net interest in the consolidated Federated Fund VIEs represents the value of Federated's economic ownership interest in these Federated Funds . During the six months ended June 30, 2019 , Federated liquidated its investment in one consolidated VIE in which it was the only remaining shareholder. Accordingly, Federated redeemed $6.2 million from Investments—Consolidated Investment Companies on the Consolidated Balance Sheets as of the date of the liquidation. There was no impact to the Consolidated Statements of Income as a result of this liquidation. There were no other consolidations or deconsolidations of VIEs during the six months ended June 30, 2019 . (c) Non-Consolidated Variable Interest Entities Federated's involvement with certain Federated Funds that are deemed to be VIEs includes serving as the investment manager, or at times, holding a minority interest or both. Federated's variable interest is not deemed to absorb losses or receive benefits that could potentially be significant to the VIE. Therefore, Federated is not the primary beneficiary of these VIEs and has not consolidated these entities. At June 30, 2019 , Federated's variable interest in non-consolidated VIEs was $71.5 million (primarily recorded in Cash and Cash Equivalents on the Consolidated Balance Sheets) and was entirely related to Federated Fund s. AUM for these non-consolidated Federated Fund s totaled $6.6 billion at June 30, 2019 . At December 31, 2018 , Federated did not have a variable interest in a non-consolidated VIE. Of the Receivables—Affiliates at June 30, 2019 and December 31, 2018 , $18.2 million and $16.2 million , respectively, related to non-consolidated VIEs and represented Federated's maximum risk of loss from non-consolidated VIE receivables.

Investments

Investments	6 Months Ended
	Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Investments	Investments At June 30, 2019 and December 31, 2018 , Federated held investments in Separate Accounts of $7.5 million and $6.8 million , respectively, and investments in fluctuating-value Federated Funds of $17.7 million and $4.1 million , respectively, that were included in Investments—Affiliates and Other on the Consolidated Balance Sheets . Federated's investments held in Separate Accounts as of June 30, 2019 and December 31, 2018 , were primarily composed of domestic debt securities ( $3.7 million and $3.5 million , respectively) and stocks of large U.S. and international companies ( $3.1 million and $2.7 million , respectively). Federated consolidates certain Federated Funds into its Consolidated Financial Statements as a result of Federated's controlling financial interest in these Federated Funds (see Note (7) ). All investments held by these consolidated Federated Funds were included in Investments—Consolidated Investment Companies on Federated's Consolidated Balance Sheets . Federated's investments held by consolidated Federated Funds as of June 30, 2019 and December 31, 2018 , were primarily composed of domestic and foreign debt securities ( $13.6 million and $20.9 million , respectively) and stocks of large U.S. and international companies ( $5.7 million and $1.6 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: Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2019 2018 2019 2018 Investments—Consolidated Investment Companies Unrealized Gains (Losses) $ 424 $ (653 ) $ 1,709 $ (2,343 ) Realized Gains 1 53 501 160 1,325 Realized Losses 1 (259 ) (723 ) (827 ) (898 ) Net Gains (Losses) on Investments—Consolidated Investment Companies 218 (875 ) 1,042 (1,916 ) Investments—Affiliates and Other Unrealized Gains (Losses) Recognized on Securities Still Held 340 9 1,217 (206 ) Net Realized Gains (Losses) Recognized on Securities Sold 1 19 51 (3 ) 125 Net Gains (Losses) on Investments—Affiliates and Other 359 60 1,214 (81 ) Gain (Loss) on Securities, net $ 577 $ (815 ) $ 2,256 $ (1,997 ) 1 Realized gains and losses are computed on a specific-identification basis.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2019
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 that would be 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 would be 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 Total June 30, 2019 Financial Assets Cash and Cash Equivalents $ 179,961 $ 0 $ 0 $ 179,961 Investments—Consolidated Investment Companies Equity Securities 4,887 3,375 0 8,262 Debt Securities 0 13,586 0 13,586 Investments—Affiliates and Other Equity Securities 21,163 70 11 21,244 Debt Securities 0 3,653 304 3,957 Other 627 68 70 765 Total Financial Assets $ 206,638 $ 20,752 $ 385 $ 227,775 Total Financial Liabilities 1 $ 22 $ 2,301 $ 1,019 $ 3,342 December 31, 2018 Financial Assets Cash and Cash Equivalents $ 156,832 $ 0 $ 0 $ 156,832 Investments—Consolidated Investment Companies Equity Securities 1,269 633 0 1,902 Debt Securities 0 20,896 0 20,896 Investments—Affiliates and Other Equity Securities 6,963 403 38 7,404 Debt Securities 0 3,456 0 3,456 Other 597 0 70 667 Total Financial Assets $ 165,661 $ 25,388 $ 108 $ 191,157 Total Financial Liabilities 1 $ 53 $ 3,852 $ 385 $ 4,290 1 Amounts primarily consist of derivative liabilities and acquisition-related future contingent consideration liabilities. The following is a description of the valuation methodologies used for financial assets and liabilities measured at fair value on a recurring basis. Federated did not hold any nonfinancial assets or liabilities measured at fair value on a recurring basis at June 30, 2019 or December 31, 2018 . Cash and Cash Equivalents Cash and Cash Equivalents include deposits with banks and investments in money market funds. Investments in money market funds totaled $168.3 million and $135.7 million at June 30, 2019 and December 31, 2018 , 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. Investments—Consolidated Investment Companies—Equity Securities Investments—Consolidated Investment Companies—Equity Securities represent equity securities held by consolidated Federated Funds . 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 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). Investments—Consolidated Investment Companies—Debt Securities Investments—Consolidated Investment Companies—Debt Securities primarily represent domestic and foreign 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). Investments—Affiliates and Other—Equity Securities Investments—Affiliates and Other—Equity Securities primarily represent equity investments in fluctuating-value Federated Funds as well as investments held in Separate Accounts . 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 quoted market prices. 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. The fair value of certain equity securities traded principally in foreign markets are determined by third-party pricing services (Level 2). Investments—Affiliates and Other—Debt Securities Investments—Affiliates and Other—Debt Securities primarily represent domestic bonds held in Separate Accounts . The fair value of these securities may include observable market data such as valuations provided by independent pricing services after considering factors such as the yields or prices of investments of comparable quality, coupon, maturity, call rights and other potential prepayments, terms and type, reported transactions, indications as to values from dealers and general market conditions (Level 2). (b) Fair Value Measurements on a Nonrecurring Basis Federated did not hold any assets or liabilities measured at fair value on a nonrecurring basis at June 30, 2019 . (c) Fair Value Measurements of Other Financial Instruments The fair value of Federated's debt is estimated by management using observable market data (Level 2). Based on this fair value estimate, the carrying value of debt appearing on the Consolidated Balance Sheets approximates fair value.

Derivatives

Derivatives	6 Months Ended
	Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives Hermes, a British Pound Sterling denominated majority-owned subsidiary of Federated , enters into foreign currency forward transactions in order to hedge against foreign exchange rate fluctuations in the U.S. Dollar . None of these forwards have been designated as hedging instruments for accounting purposes. As of June 30, 2019 , this subsidiary held foreign currency forward derivative instruments with a combined face amount of £46.0 million and expiration dates ranging from September 2019 through March 2020. As a result of the change in fair value of these derivative instruments, Federated recorded a $2.8 million and $1.5 million loss as an increase to Other expense on the Consolidated Statements of Income during the three and six months ended June 30, 2019 , and $2.3 million in Other Current Liabilities on the Consolidated Balance Sheets as of June 30, 2019 . As of December 31, 2018 , this subsidiary held foreign currency forward derivative instruments with a combined face amount of £46.0 million and expiration dates ranging from March 2019 through September 2019. As of December 31, 2018 , Federated recorded $3.8 million in Other Current Liabilities on the Consolidated Balance Sheets as a result of the change in fair value of these derivative instruments.

Debt

Debt	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Debt	Debt On June 5, 2017 , Federated entered into an unsecured Third Amended and Restated Credit Agreement by and among Federated, certain of its subsidiaries as guarantors party thereto, a syndicate of ten banks as Lenders party thereto, 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 consists of a $375 million revolving credit facility with an additional $200 million available via an optional increase (or accordion) feature. The interest on the revolving credit facility is calculated at the monthly London Interbank Offering Rate ( LIBOR ) plus a spread. The borrowings under the revolving credit facility may include up to $25 million for which interest is calculated at the daily LIBOR plus a spread ( Swing Line ). On July 1, 2018, Federated entered into an amendment to the Credit Agreement to add certain definitions and to amend certain negative covenants relating to indebtedness, guarantees, and restrictions on dividends, related to the Hermes Acquisition . This amendment contains other customary conditions, representations, warranties and covenants. The Credit Agreement , which expires on June 5, 2022, has no principal payment schedule, but instead requires that any outstanding principal be repaid by the expiration date. Federated, however, may elect to make discretionary principal payments. As of June 30, 2019 and December 31, 2018 , the amounts outstanding under the revolving credit facility were $125 million and $135 million , respectively, and were recorded as Long-Term Debt on the Consolidated Balance Sheets. The interest rate was 3.565% and 3.474% as of June 30, 2019 and December 31, 2018 , respectively, which was calculated at LIBOR plus a spread. The commitment fee under the Credit Agreement currently is 0.125% per annum on the daily unused portion of each Lender's commitment. As of June 30, 2019 , Federated has $250 million available for borrowings. The Credit Agreement includes representations and warranties, affirmative and negative financial covenants, including an interest coverage ratio covenant and a leverage ratio covenant, reporting requirements and other non-financial covenants. Federated was in compliance with all covenants at and during the six months ended June 30, 2019 (see the Liquidity and Capital Resources section of Management's Discussion and Analysis of Financial Condition and Results of Operations 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 debt outstanding 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, notice of lien or assessment, and other proceedings, whether voluntary or involuntary, that would require the repayment of amounts borrowed. The Credit Agreement also requires certain subsidiaries to enter into a Second Amended and Restated Continuing Agreement of Guaranty and Suretyship to guarantee payment of all obligations incurred through the Credit Agreement .

Share-Based Compensation Plans

Share-Based Compensation Plans	6 Months Ended
	Jun. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation Plans	Share-Based Compensation Plans During the six months ended June 30, 2019 , Federated awarded 508,324 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 three years . During 2018 , Federated awarded 899,269 shares of restricted Federated Class B common stock under its Stock Incentive Plan. Of this amount, 451,769 shares were awarded in connection with the aforementioned bonus program in 2018 . The remaining shares were awarded to certain key employees and generally vest over ten years .

Equity

Equity	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Equity	Equity In October 2016 , the board of directors authorized a share repurchase program with no stated expiration date that allows Federated to buy back up to 4 million shares of Federated Class B common stock. No other programs existed as of June 30, 2019 . The 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 six months of 2019 , Federated repurchased approximately 0.1 million shares of its Class B common stock for $2.2 million , most of which were repurchased in the open market. At June 30, 2019 , 0.9 million shares remain available to be purchased under Federated's buyback program. The following table presents the activity for the Class B common stock and Treasury stock for the three and six months ended June 30, 2019 and 2018 . Class A shares have been excluded as there was no activity during the three and six months ended June 30, 2019 or 2018 . Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 Class B Shares Beginning Balance 101,240,873 101,436,577 100,803,382 101,100,453 Stock Award Activity 22,750 41,450 521,074 496,219 Purchase of Treasury Stock (52,600 ) (714,865 ) (113,433 ) (833,510 ) Ending Balance 101,211,023 100,763,162 101,211,023 100,763,162 Treasury Shares Beginning Balance 8,264,583 8,068,879 8,702,074 8,405,003 Stock Award Activity (22,750 ) (41,450 ) (521,074 ) (496,219 ) Purchase of Treasury Stock 52,600 714,865 113,433 833,510 Ending Balance 8,294,433 8,742,294 8,294,433 8,742,294

Earnings Per Share Attributable

Earnings Per Share Attributable to Federated Investors, Inc. Shareholders	6 Months Ended
	Jun. 30, 2019
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 for: Three Months Ended Six Months Ended June 30, June 30, (in thousands, except per share data) 2019 2018 2019 2018 Numerator Net Income Attributable to Federated Investors, Inc. $ 62,724 $ 38,822 $ 117,270 $ 99,153 Less: Total Net Income Available to Participating Unvested Restricted Shareholders 1 (2,404 ) (1,529 ) (4,542 ) (3,907 ) Total Net Income Attributable to Federated Common Stock - Basic $ 60,320 $ 37,293 $ 112,728 $ 95,246 Less: Total Net Income Available to Unvested Restricted Shareholders of a Nonpublic Consolidated Subsidiary (166 ) 0 (199 ) 0 Total Net Income Attributable to Federated Common Stock - Diluted $ 60,154 $ 37,293 $ 112,529 $ 95,246 Denominator Basic Weighted-Average Federated Common Stock 2 97,330 97,193 97,163 97,191 Dilutive Potential Shares from Stock Options 0 1 0 1 Diluted Weighted-Average Federated Common Stock 2 97,330 97,194 97,163 97,192 Earnings Per Share Net Income Attributable to Federated Common Stock – Basic and Diluted 2 $ 0.62 $ 0.38 $ 1.16 $ 0.98 1 Includes dividends paid on unvested restricted Federated Class B Common shares and their proportionate share of undistributed earnings attributable to Federated shareholders. 2

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies (a) 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 claim. Further, Federated's obligations under these agreements may be limited in terms of time and/or amount. It is not possible to predict the maximum potential amount of future payments under these or similar agreements due to the conditional nature of Federated's obligations and the unique facts and circumstances involved in each particular agreement. As of June 30, 2019 , management does not believe that a material loss related to any of these matters is reasonably possible. (b) Legal Proceedings Like other companies, Federated has claims asserted and threatened against it in the ordinary course of business. As of June 30, 2019 , Federated does not believe that a material loss related to these claims is reasonably possible.

Leases

Leases	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Leases	Leases Federated has material operating leases related to its corporate headquarters in Pittsburgh, Pennsylvania. These leases expire in 2030 and have renewal options for additional periods through 2040. These leases include provisions for leasehold improvement incentives, rent escalation and certain penalties for early termination. In addition, Federated has various other operating lease agreements primarily for additional facilities. These leases are noncancelable and expire on various dates through the year 2027. Most leases include renewal options for additional periods through 2037 and, in certain cases, escalation clauses. The value of the ROU assets and lease liabilities recognized do not include the consideration of any renewal options, as they are not yet reasonably certain to be exercised. During the three and six months ended June 30, 2019 , Federated recorded $4.4 million and $8.7 million , respectively, in operating lease costs to Office and Occupancy on the Consolidated Statements of Income. During the three and six months ended June 30, 2018 , Federated recorded $3.3 million and $6.6 million , respectively, in operating lease costs to Office and Occupancy on the Consolidated Statements of Income. The following table reconciles future minimum undiscounted payments to the operating lease liabilities recorded on the Consolidated Balance Sheets as of June 30, 2019 : (in millions) Remainder of 2019 $ 8.9 2020 17.8 2021 17.4 2022 18.1 2023 18.3 2024 and Thereafter 70.1 Total Undiscounted Lease Payments $ 150.6 Present Value Adjustment 1 (24.1 ) Net Operating Lease Liabilities $ 126.5 1 Calculated using the IBR for each lease. The following information relates to the operating leases recorded on the Consolidated Balance Sheets as of June 30, 2019 : Weighted-average remaining lease term (in years) 9.0 Weighted-average discount rate (IBR) 3.79 % Year-to-date cash paid for the amounts included in the measurement of lease liabilities (in millions) $ 9.2

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss) Attributable to Federated Investors, Inc. Shareholders	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss) Attributable to Federated Investors, Inc. Shareholders	Accumulated Other Comprehensive Income (Loss) Attributable to Federated Investors, Inc. Shareholders The components of Accumulated Other Comprehensive Income (Loss), net of tax attributable to Federated shareholders are as follows: (in thousands) Unrealized Gain (Loss) on Equity Securities Foreign Currency Translation Gain (Loss) Total Balance at December 31, 2017 $ 29 $ (819 ) $ (790 ) Other Comprehensive Income (Loss) Before Reclassifications and Tax 0 (479 ) (479 ) Reclassification Adjustment, before Tax 1 (80 ) (242 ) (322 ) Tax Impact 1 51 51 102 Net Current-Period Other Comprehensive Income (Loss) (29 ) (670 ) (699 ) Balance at June 30, 2018 $ 0 $ (1,489 ) $ (1,489 ) Balance at December 31, 2018 $ 0 $ (14,617 ) $ (14,617 ) Other Comprehensive Income (Loss) 0 (1,875 ) (1,875 ) Net Current-Period Other Comprehensive Income (Loss) 0 (1,875 ) (1,875 ) Balance at June 30, 2019 $ 0 $ (16,492 ) $ (16,492 ) 1 Amount represents the reclassification from Accumulated Other Comprehensive Income (Loss), net of tax to Retained Earnings on the Consolidated Balance Sheets as a result of the adoption of ASU 2016-01 and ASU 2018-02.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On July 10, 2019 , Hermes, a British Pound Sterling denominated majority-owned subsidiary of Federated , entered into a foreign currency forward transaction with a face amount of £19.0 million and an expiration date of June 2020 in order to hedge against foreign exchange rate fluctuations in the U.S. Dollar . On July 25, 2019 , the board of directors declared a $0.27 per share dividend to shareholders of record as of August 8, 2019 to be paid on August 15, 2019 .

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Recently Adopted Accounting Guidance and Recently Issued Accounting Guidance Not Yet Adopted	Recently Adopted Accounting Guidance Leases On February 25, 2016, the Financial Accounting Standards Board ( FASB ) issued Accounting Standards Update ( ASU ) 2016-02, Leases (Topic 842). Its core principle is that a lessee should recognize the assets and liabilities that arise from leases on the balance sheet, while retaining a distinction between financing and operating leases. In the third quarter of 2018, the FASB issued ASU 2018-10, which provides improvements to narrow aspects of the guidance and ASU 2018-11, which provides an optional alternative transition method to initially apply the new leases standard at the adoption date (collectively, with ASU 2016-02, Topic 842). Effective January 1, 2019, Federated adopted Topic 842 using the alternative transition method, which did not require the restatement of prior years. In connection with the adoption of Topic 842, management has elected the package of practical expedients, which allows entities to not reassess (1) whether contracts are or contain leases, (2) lease classification and (3) initial direct costs. Management did not elect the hindsight practical expedient to determine the lease term. Upon adoption, Federated recorded $133.7 million as a lease liability and, after the reclassification of certain lease-related liabilities into the right-of-use (ROU) asset, $112.2 million as a ROU asset on the Consolidated Balance Sheets, which consists primarily of Federated's operating real estate leases. The adoption did not have a material impact on Federated's results of operations or cash flows. Goodwill Impairment During the second quarter 2019, Federated adopted ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, effective January 1, 2019. Under this ASU, an entity should perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount, and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value. However, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, the ASU retains the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. The ASU required the prospective adoption method. The adoption did not have an impact to Federated's Consolidated Financial Statements. (b) Recently Issued Accounting Guidance Not Yet Adopted Credit Losses On June 16, 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The amendments in this update replace the incurred loss impairment methodology with a current expected credit loss (CECL) model. CECL requires an entity to estimate lifetime expected credit losses based on relevant information about historical events, current conditions and reasonable and supportable forecasts. The update is effective for Federated on January 1, 2020. While early adoption is permitted, Federated does not plan to early adopt in 2019. The update requires the modified retrospective adoption method. Management is currently evaluating the potential impact of adoption to Federated's Consolidated Financial Statements. Fair Value Measurement On August 28, 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement. The amendments in this update remove, modify or add disclosure requirements for fair value measurements to improve the effectiveness of disclosures. The update is effective for Federated on January 1, 2020, with early adoption permitted, and allows for either the prospective or retrospective adoption method. Management is currently evaluating the potential impact of adoption to Federated's Consolidated Financial Statements. Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement On August 29, 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (a consensus of the FASB Emerging Issues Task Force). The amendments in this update align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The update is effective for Federated on January 1, 2020, with early adoption permitted, and allows for either the prospective or retrospective adoption method. Management plans to elect the prospective adoption approach, which does not require the restatement of prior years. Management is currently evaluating the potential impact of adoption to Federated's Consolidated Financial Statements.
Leases	Leases Prior to the adoption of Topic 842, Federated classified leases as either capital or operating in accordance with the provisions of Topic 840. All leases for the periods presented prior to January 1, 2019 were classified as operating leases. Rent expense under noncancelable operating leases with scheduled rent increases or rent holidays was accounted for on a straight-line basis over the lease term, beginning on the date of initial possession or the effective date of the lease agreement. The amount of the excess of straight-line rent expense over scheduled payments was recorded as a deferred liability. The liability was then reduced when scheduled payments were in excess of the straight-line rent expense. Build-out allowances and other such lease incentives were recorded as deferred credits, and were amortized on a straight-line basis as a reduction of rent expense beginning in the period they were deemed to have been earned, which generally coincided with the effective date of the lease. The current portion of remaining deferred lease costs and unamortized build-out allowances was included in Other Current Liabilities and the long-term portion was included in Other Long-Term Liabilities on the Consolidated Balance Sheets as of and prior to December 31, 2018. Following the adoption of Topic 842, Federated classifies leases as either operating or financing in accordance with the provisions of Topic 842, and records a ROU asset and a lease liability on the Consolidated Balance Sheets. The lease liability is initially measured at the present value of the unpaid lease payments remaining at the lease commencement date. The ROU asset is initially measured as the lease liability, adjusted for lease payments made prior to the lease commencement date and lease incentives received. In accordance with Topic 842 and Property and Equipment impairment guidance, ROU assets are reviewed for impairment when events or circumstances indicate that the carrying amount may not be recoverable. In determining the present value of the lease liability, Topic 842 requires a lessee to use the interest rate implicit in the lease or, if that rate is not readily determinable, its incremental borrowing rate (IBR). All leases for the periods presented are classified as operating leases. Management has made the following accounting policy elections: (1) not to separate lease components from non-lease components for all asset classes and (2) to apply the short-term lease exception, which does not require the capitalization of leases with terms of 12 months or less. Rent expense is recorded on a straight-line basis over the lease term, beginning on the earlier of the effective date of the lease or the date Federated obtains control of the asset. The lease term may include options to extend the lease when they are reasonably certain of being exercised. Management judgments are used when reviewing new and/or materially-modified contracts to determine (1) whether the contract is, or contains, a lease, and (2) the IBR. Management was unable to determine the rates implicit in Federated's leases based on the information available at the commencement date, therefore, management calculated an IBR for each lease. In order to calculate the IBR, management began with readily observable unsecured rates, and adjusted for the following assumptions: (1) collateralization, (2) length remaining in the lease and (3) the type of ROU asset.

Business Combinations (Tables)

Business Combinations (Tables)	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Summary of Allocation Preliminary Purchase Price	The following table summarizes the final purchase price allocation: (in millions) Cash and Cash Equivalents $ 175.8 Other Current Assets 1 53.7 Goodwill 2 114.1 Intangible Assets 3 320.0 Other Long-Term Assets 4 40.1 Less: Long-Term Deferred Tax Liability, net (28.7 ) Less: Liabilities Acquired 5 (162.3 ) Less: Fair Value of Redeemable Noncontrolling Interest in Subsidiary 6 (169.2 ) Total Purchase Price Consideration $ 343.5 1 Includes $31.9 million of receivables, all of which has been collected as of June 30, 2019 . 2 The goodwill recognized is attributable to enhanced revenue and AUM growth opportunities from future investors and the assembled workforce of Hermes. In this instance, goodwill is not deductible for tax purposes. 3 Includes $71.6 million for customer relationships with a weighted-average useful life of 8.5 years , $198.5 million for indefinite-lived renewable investment advisory contracts and $49.9 million for an indefinite-lived trade name, all of which are recorded in Intangible Assets, net on the Consolidated Balance Sheets . 4 Includes $11.2 million of Property and Equipment, net. 5 Includes $130.3 million related to Accrued Compensation and Benefits . 6 The fair value of the noncontrolling interest was determined utilizing the market approach and consideration of the overall business enterprise value.
Summary of Unaudited Pro Forma Financial Information	The following table summarizes unaudited pro forma financial information assuming the Hermes Acquisition occurred at the beginning of the period presented. This pro forma financial information is for informational purposes only and is not indicative of actual results that would have occurred had the Hermes Acquisition been completed on the assumed date and it is not indicative of future results. In addition, the following pro forma financial information does not reflect the realization of any cost savings (nor does management expect to realize any cost savings) or other synergies from the Hermes Acquisition . The pro forma results include adjustments for the effect of acquisition-related expenses (including compensation and related expense, income tax expense and amortization related to newly acquired intangibles) as well as adjustments to conform to Federated's U.S. GAAP accounting policies. Three Months Ended Six Months Ended (in millions) June 30, 2018 June 30, 2018 Revenue $ 307.4 $ 614.7 Net Income 1 $ 60.2 $ 120.3 1 The three and six months ended June 30, 2018 exclude a $29.0 million loss on foreign currency forward transactions entered into in order to hedge against foreign exchange rate fluctuations associated with the payment for the Hermes Acquisition.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table presents Federated's revenue disaggregated by asset class: Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2019 2018 2019 2018 Equity $ 134,035 $ 102,089 $ 257,669 $ 205,698 Money Market 123,136 98,923 240,443 203,406 Fixed-Income 44,782 44,497 88,459 89,545 Other 1 19,526 10,484 41,958 21,196 Total Revenue $ 321,479 $ 255,993 $ 628,529 $ 519,845 1 Includes Alternative / Private Markets (including but not limited to private equity, real estate and infrastructure), Multi-Asset and, beginning in the third quarter of 2018, stewardship services revenue. The following table presents Federated's revenue disaggregated by performance obligation: Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2019 2018 2019 2018 Asset Management 1 $ 220,669 $ 168,127 $ 431,868 $ 342,393 Administrative Services 57,968 48,370 112,103 97,393 Distribution 2 37,196 36,923 73,442 74,980 Other 3 5,646 2,573 11,116 5,079 Total Revenue $ 321,479 $ 255,993 $ 628,529 $ 519,845 1 The performance obligation may include administrative, distribution and other services recorded as a single asset management fee under Topic 606 , as it is part of a unitary fee arrangement with a single performance obligation. 2 The performance obligation is satisfied at a point in time and may include contingent deferred sales charges and upfront commissions. A portion of this revenue relates to a performance obligation that has been satisfied in a prior period. 3 Includes shareholder service fees and, beginning in the third quarter of 2018, stewardship services revenue. The following table presents Federated's revenue disaggregated by geographical market: Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2019 2018 2019 2018 Domestic $ 265,893 $ 248,872 $ 518,283 $ 504,964 Foreign 1 55,586 7,121 110,246 14,881 Total Revenue $ 321,479 $ 255,993 $ 628,529 $ 519,845 1 This represents revenue earned by non-U.S. domiciled subsidiaries. The following table presents Federated's revenue disaggregated by product type: Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2019 2018 2019 2018 Federated Funds $ 264,174 $ 218,396 $ 512,527 $ 443,213 Separate Accounts 54,368 37,597 109,959 76,632 Other 1 2,937 0 6,043 0 Total Revenue $ 321,479 $ 255,993 $ 628,529 $ 519,845 1 Includes stewardship services revenue.
Future Fixed Revenue from Stewardship Services	Based on existing contracts and the exchange rates as of June 30, 2019 , Federated may recognize future fixed revenue from stewardship services as presented in the following table: (in thousands) Remainder of 2019 $ 5,031 2020 4,032 2021 1,989 2022 and Thereafter 749 Total Remaining Unsatisfied Performance Obligations $ 11,801

Concentration Risk (Tables)

Concentration Risk (Tables)	6 Months Ended
	Jun. 30, 2019
Risks and Uncertainties [Abstract]
Schedule of Revenue Concentration	The following table presents Federated's revenue concentration by asset class: Six Months Ended June 30, 2019 2018 Equity Assets 41 % 40 % Money Market Assets 38 % 39 % Fixed-Income Assets 14 % 17 % The following table presents Federated's revenue concentration by investment strategy/fund: Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 Federated Strategic Value Dividend strategy 1 11 % 16 % 11 % 17 % Federated Government Obligations Fund 9 % 10 % 9 % 10 % Federated Kaufmann Mid-Cap Growth strategy 2 9 % 11 % 9 % 11 % 1 Strategy includes Federated Funds and Separate Accounts . 2 Strategy includes Federated Funds .

Consolidation (Tables)

Consolidation (Tables)	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidated Federated Funds VIEs	The following table presents the balances related to the consolidated Federated Fund VIEs that were included on the Consolidated Balance Sheets as well as Federated's net interest in the consolidated Federated Fund VIEs for each period presented: (in millions) June 30, 2019 December 31, 2018 Investments—Consolidated Investment Companies $ 13.6 $ 21.2 Receivables 0.4 0.4 Less: Liabilities 0.3 0.3 Less: Redeemable Noncontrolling Interest in Subsidiaries 9.5 11.2 Federated's Net Interest in Federated Fund VIEs $ 4.2 $ 10.1

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Gains and Losses Recognized in Gain (Loss) on Securities, Net	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: Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2019 2018 2019 2018 Investments—Consolidated Investment Companies Unrealized Gains (Losses) $ 424 $ (653 ) $ 1,709 $ (2,343 ) Realized Gains 1 53 501 160 1,325 Realized Losses 1 (259 ) (723 ) (827 ) (898 ) Net Gains (Losses) on Investments—Consolidated Investment Companies 218 (875 ) 1,042 (1,916 ) Investments—Affiliates and Other Unrealized Gains (Losses) Recognized on Securities Still Held 340 9 1,217 (206 ) Net Realized Gains (Losses) Recognized on Securities Sold 1 19 51 (3 ) 125 Net Gains (Losses) on Investments—Affiliates and Other 359 60 1,214 (81 ) Gain (Loss) on Securities, net $ 577 $ (815 ) $ 2,256 $ (1,997 ) 1 Realized gains and losses are computed on a specific-identification basis.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2019
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 Total June 30, 2019 Financial Assets Cash and Cash Equivalents $ 179,961 $ 0 $ 0 $ 179,961 Investments—Consolidated Investment Companies Equity Securities 4,887 3,375 0 8,262 Debt Securities 0 13,586 0 13,586 Investments—Affiliates and Other Equity Securities 21,163 70 11 21,244 Debt Securities 0 3,653 304 3,957 Other 627 68 70 765 Total Financial Assets $ 206,638 $ 20,752 $ 385 $ 227,775 Total Financial Liabilities 1 $ 22 $ 2,301 $ 1,019 $ 3,342 December 31, 2018 Financial Assets Cash and Cash Equivalents $ 156,832 $ 0 $ 0 $ 156,832 Investments—Consolidated Investment Companies Equity Securities 1,269 633 0 1,902 Debt Securities 0 20,896 0 20,896 Investments—Affiliates and Other Equity Securities 6,963 403 38 7,404 Debt Securities 0 3,456 0 3,456 Other 597 0 70 667 Total Financial Assets $ 165,661 $ 25,388 $ 108 $ 191,157 Total Financial Liabilities 1 $ 53 $ 3,852 $ 385 $ 4,290 1 Amounts primarily consist of derivative liabilities and acquisition-related future contingent consideration liabilities.

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Activity for Class B Common Stock and Treasury Stock	The following table presents the activity for the Class B common stock and Treasury stock for the three and six months ended June 30, 2019 and 2018 . Class A shares have been excluded as there was no activity during the three and six months ended June 30, 2019 or 2018 . Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 Class B Shares Beginning Balance 101,240,873 101,436,577 100,803,382 101,100,453 Stock Award Activity 22,750 41,450 521,074 496,219 Purchase of Treasury Stock (52,600 ) (714,865 ) (113,433 ) (833,510 ) Ending Balance 101,211,023 100,763,162 101,211,023 100,763,162 Treasury Shares Beginning Balance 8,264,583 8,068,879 8,702,074 8,405,003 Stock Award Activity (22,750 ) (41,450 ) (521,074 ) (496,219 ) Purchase of Treasury Stock 52,600 714,865 113,433 833,510 Ending Balance 8,294,433 8,742,294 8,294,433 8,742,294

Earnings Per Share Attributab_2

Earnings Per Share Attributable to Federated Investors, Inc. Shareholders (Tables)	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share using the two-class method for amounts attributable to Federated for: Three Months Ended Six Months Ended June 30, June 30, (in thousands, except per share data) 2019 2018 2019 2018 Numerator Net Income Attributable to Federated Investors, Inc. $ 62,724 $ 38,822 $ 117,270 $ 99,153 Less: Total Net Income Available to Participating Unvested Restricted Shareholders 1 (2,404 ) (1,529 ) (4,542 ) (3,907 ) Total Net Income Attributable to Federated Common Stock - Basic $ 60,320 $ 37,293 $ 112,728 $ 95,246 Less: Total Net Income Available to Unvested Restricted Shareholders of a Nonpublic Consolidated Subsidiary (166 ) 0 (199 ) 0 Total Net Income Attributable to Federated Common Stock - Diluted $ 60,154 $ 37,293 $ 112,529 $ 95,246 Denominator Basic Weighted-Average Federated Common Stock 2 97,330 97,193 97,163 97,191 Dilutive Potential Shares from Stock Options 0 1 0 1 Diluted Weighted-Average Federated Common Stock 2 97,330 97,194 97,163 97,192 Earnings Per Share Net Income Attributable to Federated Common Stock – Basic and Diluted 2 $ 0.62 $ 0.38 $ 1.16 $ 0.98 1 Includes dividends paid on unvested restricted Federated Class B Common shares and their proportionate share of undistributed earnings attributable to Federated shareholders. 2

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Reconciliation of Future Minimum Undiscounted Payments to Operating Lease Liabilities	The following table reconciles future minimum undiscounted payments to the operating lease liabilities recorded on the Consolidated Balance Sheets as of June 30, 2019 : (in millions) Remainder of 2019 $ 8.9 2020 17.8 2021 17.4 2022 18.1 2023 18.3 2024 and Thereafter 70.1 Total Undiscounted Lease Payments $ 150.6 Present Value Adjustment 1 (24.1 ) Net Operating Lease Liabilities $ 126.5 1 Calculated using the IBR for each lease.
Other Information Related to Operating Leases	The following information relates to the operating leases recorded on the Consolidated Balance Sheets as of June 30, 2019 : Weighted-average remaining lease term (in years) 9.0 Weighted-average discount rate (IBR) 3.79 % Year-to-date cash paid for the amounts included in the measurement of lease liabilities (in millions) $ 9.2

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) Attributable to Federated Investors, Inc. Shareholders (Tables)	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Components of Accumulated Other Comprehensive Income (Loss), Net of Tax	The components of Accumulated Other Comprehensive Income (Loss), net of tax attributable to Federated shareholders are as follows: (in thousands) Unrealized Gain (Loss) on Equity Securities Foreign Currency Translation Gain (Loss) Total Balance at December 31, 2017 $ 29 $ (819 ) $ (790 ) Other Comprehensive Income (Loss) Before Reclassifications and Tax 0 (479 ) (479 ) Reclassification Adjustment, before Tax 1 (80 ) (242 ) (322 ) Tax Impact 1 51 51 102 Net Current-Period Other Comprehensive Income (Loss) (29 ) (670 ) (699 ) Balance at June 30, 2018 $ 0 $ (1,489 ) $ (1,489 ) Balance at December 31, 2018 $ 0 $ (14,617 ) $ (14,617 ) Other Comprehensive Income (Loss) 0 (1,875 ) (1,875 ) Net Current-Period Other Comprehensive Income (Loss) 0 (1,875 ) (1,875 ) Balance at June 30, 2019 $ 0 $ (16,492 ) $ (16,492 ) 1 Amount represents the reclassification from Accumulated Other Comprehensive Income (Loss), net of tax to Retained Earnings on the Consolidated Balance Sheets as a result of the adoption of ASU 2016-01 and ASU 2018-02.

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease liability	$ 126,500
Right-of-use asset	$ 105,887
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease liability		$ 133,700
Right-of-use asset		$ 112,200

Business Combinations - Narrati

Business Combinations - Narrative (Details) - USD ($) $ in Thousands	Jul. 01, 2018	Jun. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018	Jun. 30, 2019
Business Acquisition [Line Items]
Drawdown from existing revolving credit facility			$ 8,800		$ 18,000
Adjustment to redemption value		$ 16,604
Redeemable noncontrollling interest in subsidiaries		201,988	201,988	$ 182,513		$ 201,988
Hermes
Business Acquisition [Line Items]
Redeemable noncontrollling interest in subsidiaries		190,300	190,300			190,300
Hermes | Restricted Stock | Put Option
Business Acquisition [Line Items]
Period after vesting	9 months
Hermes | Restricted Stock | Minimum
Business Acquisition [Line Items]
Vesting period	3 years
Hermes | Restricted Stock | Maximum
Business Acquisition [Line Items]
Vesting period	5 years
Hermes
Business Acquisition [Line Items]
Payments to acquire business				$ 344,300		$ 343,500
Cash received from acquisition		800
Drawdown from existing revolving credit facility	$ 18,000
Fair value of Redeemable noncontrolling interest	33.00%
Increase in Intangible Assets		43,800
Increase in Other Long-Term Assets		5,000
Increase in Long-Term Deferred Tax Liability		8,200
Decrease in Goodwill		41,800
Revenue		48,300	96,600
Net income		$ 2,100	$ 2,500
Hermes
Business Acquisition [Line Items]
Remaining interest contributed to employee benefit trust	10.50%
Hermes | BTPS
Business Acquisition [Line Items]
Ownership interest retained	29.50%

Business Combinations - Summary

Business Combinations - Summary of Allocation Preliminary Purchase Price (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill	$ 769,689	$ 809,608
Hermes
Business Acquisition [Line Items]
Cash and Cash Equivalents	175,800
Other Current Assets	53,700
Goodwill	114,100
Intangible Assets	320,000
Other Long-Term Assets	40,100
Less: Long-Term Deferred Tax Liability, net	(28,700)
Less: Liabilities Acquired	(162,300)
Less: Fair Value of Redeemable Noncontrolling Interest in Subsidiary	(169,200)
Total Purchase Price Consideration	343,500
Receivables	31,900
Property and equipment	11,200
Accrued compensation	130,300
Hermes | Investment Advisory Contracts
Business Acquisition [Line Items]
Indefinite-lived intangible assets	198,500
Hermes | Trade Name
Business Acquisition [Line Items]
Indefinite-lived intangible assets	49,900
Hermes | Customer Relationships
Business Acquisition [Line Items]
Customer relationships	$ 71,600
Weighted-average useful life	8 years 6 months

Business Combinations - Summa_2

Business Combinations - Summary of Unaudited Pro Forma Financial Information (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018
Business Acquisition [Line Items]
Loss on foreign currency forward transactions	$ 29	$ 29
Hermes
Business Acquisition [Line Items]
Revenue	307.4	614.7
Net Income	$ 60.2	$ 120.3

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Disaggregation of Revenue by Asset Class (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Total Revenue	$ 321,479	$ 255,993	$ 628,529	$ 519,845
Equity
Disaggregation of Revenue [Line Items]
Total Revenue	134,035	102,089	257,669	205,698
Money Market
Disaggregation of Revenue [Line Items]
Total Revenue	123,136	98,923	240,443	203,406
Fixed-Income
Disaggregation of Revenue [Line Items]
Total Revenue	44,782	44,497	88,459	89,545
Other
Disaggregation of Revenue [Line Items]
Total Revenue	$ 19,526	$ 10,484	$ 41,958	$ 21,196

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Disaggregation of Revenue by Performance Obligation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Total Revenue	$ 321,479	$ 255,993	$ 628,529	$ 519,845
Asset Management
Disaggregation of Revenue [Line Items]
Total Revenue	220,669	168,127	431,868	342,393
Administrative Services
Disaggregation of Revenue [Line Items]
Total Revenue	57,968	48,370	112,103	97,393
Distribution
Disaggregation of Revenue [Line Items]
Total Revenue	37,196	36,923	73,442	74,980
Other
Disaggregation of Revenue [Line Items]
Total Revenue	$ 5,646	$ 2,573	$ 11,116	$ 5,079

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Disaggregation of Revenue by Geographic Market (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Total Revenue	$ 321,479	$ 255,993	$ 628,529	$ 519,845
Domestic
Disaggregation of Revenue [Line Items]
Total Revenue	265,893	248,872	518,283	504,964
Foreign
Disaggregation of Revenue [Line Items]
Total Revenue	$ 55,586	$ 7,121	$ 110,246	$ 14,881

Revenue from Contracts with C_6

Revenue from Contracts with Customers - Disaggregation of Revenue by Product Type (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Total Revenue	$ 321,479	$ 255,993	$ 628,529	$ 519,845
Federated Funds
Disaggregation of Revenue [Line Items]
Total Revenue	264,174	218,396	512,527	443,213
Separate Accounts
Disaggregation of Revenue [Line Items]
Total Revenue	54,368	37,597	109,959	76,632
Other
Disaggregation of Revenue [Line Items]
Total Revenue	$ 2,937	$ 0	$ 6,043	$ 0

Revenue from Contracts with C_7

Revenue from Contracts with Customers - Narrative (Details)	6 Months Ended
	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Contract terms	Generally, contracts are billed in arrears on a quarterly basis and have a three year duration, after which the customer can terminate the agreement with a three to twelve month notice.
Minimum
Disaggregation of Revenue [Line Items]
Termination period	3 months
Maximum
Disaggregation of Revenue [Line Items]
Termination period	12 months

Revenue from Contracts with C_8

Revenue from Contracts with Customers - Future Fixed Revenue from Stewardship Services (Details) $ in Thousands	Jun. 30, 2019USD ($)
Revenue from Contract with Customer [Abstract]
Total Remaining Unsatisfied Performance Obligations	$ 11,801
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-07-01
Revenue from Contract with Customer [Abstract]
Total Remaining Unsatisfied Performance Obligations	$ 5,031
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected timing of satisfaction, period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue from Contract with Customer [Abstract]
Total Remaining Unsatisfied Performance Obligations	$ 4,032
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue from Contract with Customer [Abstract]
Total Remaining Unsatisfied Performance Obligations	$ 1,989
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue from Contract with Customer [Abstract]
Total Remaining Unsatisfied Performance Obligations	$ 749
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected timing of satisfaction, period

Concentration Risk - Schedule o

Concentration Risk - Schedule of Revenue Concentration (Details) - Product Concentration Risk	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Equity Assets
Concentration Risk [Line Items]
Concentration risk	41.00%	40.00%
Money Market Assets
Concentration Risk [Line Items]
Concentration risk	38.00%	39.00%
Fixed-Income Assets
Concentration Risk [Line Items]
Concentration risk	14.00%	17.00%

Concentration Risk - Schedule_2

Concentration Risk - Schedule of Revenue Concentration by Investment Strategy/Fund (Details) - Product Concentration Risk	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Federated Strategic Value Dividend strategy
Concentration Risk [Line Items]
Concentration risk	11.00%	16.00%	11.00%	17.00%
Federated Government Obligations Fund
Concentration Risk [Line Items]
Concentration risk	9.00%	10.00%	9.00%	10.00%
Federated Kaufmann Mid-Cap Growth strategy
Concentration Risk [Line Items]
Concentration risk	9.00%	11.00%	9.00%	11.00%

Concentration Risk - Narrative

Concentration Risk - Narrative (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Customer Concentration Risk | The Bank of New York Mellon Corporation
Concentration Risk [Line Items]
Concentration risk	11.00%	14.00%	11.00%	14.00%

Consolidation - Narrative (Deta

Consolidation - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Variable Interest Entities [Line Items]
Fee waivers	$ 101,700,000	$ 88,100,000	$ 200,500,000	$ 175,500,000
Investments, deconsolidation			6,200,000
Non-Consolidated Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entities [Line Items]
Assets under management	6,600,000,000		6,600,000,000
Non-Consolidated Variable Interest Entity, Not Primary Beneficiary | Cash and Cash Equivalents
Variable Interest Entities [Line Items]
Federated's maximum risk of loss in non-consolidated investment companies	71,500,000		71,500,000
Non-Consolidated Variable Interest Entity, Not Primary Beneficiary | Receivables from Federated Funds
Variable Interest Entities [Line Items]
Federated's maximum risk of loss in non-consolidated investment companies	18,200,000		18,200,000		$ 16,200,000
Financial Support, Fee Waivers
Variable Interest Entities [Line Items]
Money market funds which meet the scope exception of the consolidation guidance	73,700,000	59,600,000	141,800,000	117,500,000
Financial Support, Capital Contributions
Variable Interest Entities [Line Items]
Money market funds which meet the scope exception of the consolidation guidance	$ 0	$ 0	$ 0	$ 0

Consolidation - Consolidated Fe

Consolidation - Consolidated Federated Fund VIEs (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Variable Interest Entities [Line Items]
Federated's Net Interest in Federated Fund VIEs	$ 4.2	$ 10.1
Variable Interest Entity, Primary Beneficiary, Aggregated Disclosure
Variable Interest Entities [Line Items]
Less: Liabilities	0.3	0.3
Less: Redeemable Noncontrolling Interest in Subsidiaries	9.5	11.2
Variable Interest Entity, Primary Beneficiary, Aggregated Disclosure | Investments—Consolidated Investment Companies
Variable Interest Entities [Line Items]
Consolidated VIE assets	13.6	21.2
Variable Interest Entity, Primary Beneficiary, Aggregated Disclosure | Receivables
Variable Interest Entities [Line Items]
Consolidated VIE assets	$ 0.4	$ 0.4

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Schedule of Investments [Line Items]
Investments—Affiliates and Other	$ 25,201	$ 10,860
Investments - Consolidated Investment Companies	21,848	22,798
Debt Securities
Schedule of Investments [Line Items]
Investments - Consolidated Investment Companies	13,600	20,900
Stocks of large U.S. and international companies
Schedule of Investments [Line Items]
Investments - Consolidated Investment Companies	5,700	1,600
Separate Accounts
Schedule of Investments [Line Items]
Investments—Affiliates and Other	7,500	6,800
Separate Accounts | Debt Securities
Schedule of Investments [Line Items]
Investments—Affiliates and Other	3,700	3,500
Separate Accounts | Equity
Schedule of Investments [Line Items]
Investments—Affiliates and Other	3,100	2,700
Federated Funds
Schedule of Investments [Line Items]
Investments—Affiliates and Other	$ 17,700	$ 4,100

Investments - Gains and Losses

Investments - Gains and Losses Recognized in Gain (Loss) on Securities, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
(Loss) Gain on Securities [Line Items]
Gain (Loss) on Securities, net	$ 577	$ (815)	$ 2,256	$ (1,997)
Investments—Consolidated Investment Companies
(Loss) Gain on Securities [Line Items]
Unrealized Gains (Losses)	424	(653)	1,709	(2,343)
Realized Gains	53	501	160	1,325
Realized Losses	(259)	(723)	(827)	(898)
Gain (Loss) on Securities, net	218	(875)	1,042	(1,916)
Investments—Affiliates and Other
(Loss) Gain on Securities [Line Items]
Unrealized Gains (Losses)	340	9	1,217	(206)
Net Realized Gains (Losses) Recognized on Securities Sold	19	51	(3)	125
Gain (Loss) on Securities, net	$ 359	$ 60	$ 1,214	$ (81)

Fair Value Measurements - Class

Fair Value Measurements - Classes of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Financial Assets
Cash and Cash Equivalents	$ 179,961	$ 156,832
Investments—Consolidated Investment Companies
Equity Securities	8,262	1,902
Debt Securities	13,586	20,896
Investments—Affiliates and Other
Equity Securities	21,244	7,404
Debt Securities	3,957	3,456
Other	765	667
Total Financial Assets	227,775	191,157
Financial Liabilities
Total Financial Liabilities	3,342	4,290
Level 1
Financial Assets
Cash and Cash Equivalents	179,961	156,832
Investments—Consolidated Investment Companies
Equity Securities	4,887	1,269
Debt Securities	0	0
Investments—Affiliates and Other
Equity Securities	21,163	6,963
Debt Securities	0	0
Other	627	597
Total Financial Assets	206,638	165,661
Financial Liabilities
Total Financial Liabilities	22	53
Level 2
Financial Assets
Cash and Cash Equivalents	0	0
Investments—Consolidated Investment Companies
Equity Securities	3,375	633
Debt Securities	13,586	20,896
Investments—Affiliates and Other
Equity Securities	70	403
Debt Securities	3,653	3,456
Other	68	0
Total Financial Assets	20,752	25,388
Financial Liabilities
Total Financial Liabilities	2,301	3,852
Level 3
Financial Assets
Cash and Cash Equivalents	0	0
Investments—Consolidated Investment Companies
Equity Securities	0	0
Debt Securities	0	0
Investments—Affiliates and Other
Equity Securities	11	38
Debt Securities	304	0
Other	70	70
Total Financial Assets	385	108
Financial Liabilities
Total Financial Liabilities	$ 1,019	$ 385

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Money Market
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 168.3	$ 135.7

Derivatives (Details)

Derivatives (Details) - Foreign Currency Forward £ in Millions, $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2019GBP (£)	Dec. 31, 2018USD ($)	Dec. 31, 2018GBP (£)
Derivative [Line Items]
Notional amount | £			£ 46		£ 46
Loss on derivative instruments	$ 2.8	$ 1.5
Other Current Liabilities
Derivative [Line Items]
Derivative liability	$ 2.3	$ 2.3		$ 3.8

Debt (Details)

Debt (Details)	6 Months Ended
	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)	Jun. 05, 2017USD ($)bank
Debt Instrument [Line Items]
Number of banks as lenders | bank			10
Line of credit facility, maximum borrowing capacity			$ 375,000,000
Optional increase (or an accordion feature)			200,000,000
Amounts outstanding under the revolving credit facility	$ 125,000,000	$ 135,000,000
Interest rate at period end	3.565%	3.474%
Commitment fee	0.125%
Available for borrowings	$ 250,000,000
SwingLine
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 25,000,000

Share-Based Compensation Plans

Share-Based Compensation Plans (Details) - shares	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awarded in period (in shares)	508,324	899,269
Class B Common Stock Bonus
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awarded in period (in shares)		451,769
Restricted stock requisite service period	3 years
Class B Common Stock Key Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock requisite service period		10 years

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018	Oct. 31, 2016
Equity, Class of Treasury Stock [Line Items]
Purchase of treasury stock	$ 709	$ 1,485	$ 17,164	$ 3,876
Treasury Stock
Equity, Class of Treasury Stock [Line Items]
Purchase of treasury stock (in shares)	52,600		714,865		113,433	833,510
Purchase of treasury stock	$ 709	$ 1,485	$ 17,164	$ 3,876	$ 2,200
Class B Shares
Equity, Class of Treasury Stock [Line Items]
Number of shares authorized under share repurchase program (in shares)							4,000,000
Purchase of treasury stock (in shares)					100,000
Remaining number of shares authorized to be repurchased (in shares)	900,000				900,000

Equity - Activity for Class B C

Equity - Activity for Class B Common Stock and Treasury Stock (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Class B Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Purchase of Treasury Stock			100,000
Common Stock | Class B Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	101,240,873	101,436,577	100,803,382	101,100,453
Stock Award Activity	22,750	41,450	521,074	496,219
Purchase of Treasury Stock	52,600	714,865	113,433	833,510
Ending Balance	101,211,023	100,763,162	101,211,023	100,763,162
Treasury Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	(8,264,583)	(8,068,879)	(8,702,074)	(8,405,003)
Stock Award Activity	22,750	41,450	521,074	496,219
Purchase of Treasury Stock	52,600	714,865	113,433	833,510
Ending Balance	(8,294,433)	(8,742,294)	(8,294,433)	(8,742,294)

Earnings Per Share Attributab_3

Earnings Per Share Attributable to Federated Investors, Inc. Shareholders (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Numerator
Net Income Attributable to Federated Investors, Inc.	$ 62,724	$ 38,822	$ 117,270	$ 99,153
Less: Total Net Income Available to Participating Unvested Restricted Shareholders	(2,404)	(1,529)	(4,542)	(3,907)
Total Net Income Attributable to Federated Common Stock - Basic	60,320	37,293	112,728	95,246
Less: Total Net Income Available to Unvested Restricted Shareholders of a Nonpublic Consolidated Subsidiary	(166)	0	(199)	0
Total Net Income Attributable to Federated Common Stock - Diluted	$ 60,154	$ 37,293	$ 112,529	$ 95,246
Denominator
Basic Weighted-Average Federated Common Stock (in shares)	97,330	97,193	97,163	97,191
Dilutive Potential Shares from Stock Options (in shares)	0	1	0	1
Diluted Weighted-Average Federated Common Stock (in shares)	97,330	97,194	97,163	97,192
Earnings Per Share
Net Income Attributable to Federated Common Stock – Basic and Diluted (usd per share)	$ 0.62	$ 0.38	$ 1.16	$ 0.98

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Leases [Abstract]
Operating lease costs	$ 4.4		$ 8.7
Operating lease costs		$ 3.3		$ 6.6

Leases - Reconciliation of Futu

Leases - Reconciliation of Future Minimum Undiscounted Payments to Operating Lease Liabilities (Details) $ in Millions	Jun. 30, 2019USD ($)
Leases [Abstract]
Remainder of 2019	$ 8.9
2020	17.8
2021	17.4
2022	18.1
2023	18.3
2024 and Thereafter	70.1
Total Undiscounted Lease Payments	150.6
Present Value Adjustment	(24.1)
Net Operating Lease Liabilities	$ 126.5

Leases - Other Information Rela

Leases - Other Information Related to Operating Leases (Details) $ in Millions	6 Months Ended
	Jun. 30, 2019USD ($)
Leases [Abstract]
Weighted-average remaining lease term (in years)	9 years
Weighted-average discount rate (IBR)	3.79%
Year-to-date cash paid for the amounts included in the measurement of lease liabilities (in millions)	$ 9.2

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) Attributable to Federated Investors, Inc. Shareholders (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Accumulated Other Comprehensive Income (Loss), net of tax [Rollforward]
Balance, beginning of period	$ 857,121	$ 761,215
Other Comprehensive Income (Loss) Before Reclassifications and Tax	(1,875)	(479)
Reclassification Adjustment, before Tax		(322)
Tax Impact		102
Net Current-Period Other Comprehensive Income (Loss)	(1,875)	(699)
Balance, end of period	912,528	799,125
Unrealized Gain (Loss) on Equity Securities
Accumulated Other Comprehensive Income (Loss), net of tax [Rollforward]
Balance, beginning of period	0	29
Other Comprehensive Income (Loss) Before Reclassifications and Tax	0	0
Reclassification Adjustment, before Tax		(80)
Tax Impact		51
Net Current-Period Other Comprehensive Income (Loss)	0	(29)
Balance, end of period	0	0
Foreign Currency Translation Gain (Loss)
Accumulated Other Comprehensive Income (Loss), net of tax [Rollforward]
Balance, beginning of period	(14,617)	(819)
Other Comprehensive Income (Loss) Before Reclassifications and Tax	(1,875)	(479)
Reclassification Adjustment, before Tax		(242)
Tax Impact		51
Net Current-Period Other Comprehensive Income (Loss)	(1,875)	(670)
Balance, end of period	(16,492)	(1,489)
Total
Accumulated Other Comprehensive Income (Loss), net of tax [Rollforward]
Balance, beginning of period	(14,617)	(790)
Balance, end of period	$ (16,492)	$ (1,489)

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event £ in Millions	Jul. 25, 2019$ / shares	Jul. 10, 2019GBP (£)
Subsequent Event [Line Items]
Dividend declared (usd per share) | $ / shares	$ 0.27
Foreign Currency Forward
Subsequent Event [Line Items]
Notional amount | £		£ 19

Uncategorized Items - fii-20190

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (129,000)
AOCI Attributable to Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(254,000)
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 125,000