Federated Hermes (FHI) 10-Q 2 Aug 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2022	Jul. 22, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-14818
Entity Registrant Name	Federated Hermes, Inc.
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	25-1111467
Entity Address, Address Line One	1001 Liberty Avenue
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	FHI
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
Entity Central Index Key	0001056288
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false
Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		9,000
Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		89,132,652

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current Assets
Cash and Cash Equivalents	$ 248,732	$ 233,327
Investments—Consolidated Investment Companies	102,865	105,542
Investments—Affiliates and Other	78,170	87,805
Receivables, net of reserve of $21 and $21, respectively	53,850	65,317
Receivables—Affiliates	36,487	30,956
Prepaid Expenses	34,175	29,322
Other Current Assets	7,124	7,178
Total Current Assets	561,403	559,447
Long-Term Assets
Goodwill	784,900	798,871
Intangible Assets, net of accumulated amortization of $41,649 and $39,618, respectively	433,091	471,209
Property and Equipment, net of accumulated depreciation of $112,432 and $113,624, respectively	41,588	46,965
Right-of-Use Assets, net	99,238	108,306
Other Long-Term Assets	31,697	33,389
Total Long-Term Assets	1,390,514	1,458,740
Total Assets	1,951,917	2,018,187
Current Liabilities
Accounts Payable and Accrued Expenses	73,761	64,019
Accrued Compensation and Benefits	93,929	162,203
Lease Liabilities	17,788	17,447
Other Current Liabilities	21,669	27,038
Total Current Liabilities	207,147	270,707
Long-Term Liabilities
Long-Term Debt	397,448	223,350
Long-Term Deferred Tax Liability, net	197,484	205,206
Long-Term Lease Liabilities	94,758	105,270
Other Long-Term Liabilities	32,456	36,435
Total Long-Term Liabilities	722,146	570,261
Total Liabilities	929,293	840,968
Commitments and Contingencies (Note (17))
TEMPORARY EQUITY
Redeemable Noncontrolling Interests in Subsidiaries	54,731	63,202
Federated Hermes, Inc. Shareholders’ Equity
Additional Paid-In Capital from Treasury Stock Transactions	3,472	0
Retained Earnings	1,224,527	1,187,001
Treasury Stock, at Cost, 20,307,504 and 16,094,488 Shares Class B Common Stock, respectively	(684,286)	(538,464)
Accumulated Other Comprehensive Income (Loss), net of tax	(43,656)	16,362
Total Permanent Equity	967,893	1,114,017
Total Liabilities, Temporary Equity and Permanent Equity	1,951,917	2,018,187
Class A
Federated Hermes, Inc. Shareholders’ Equity
Common Stock	189	189
Class B
Federated Hermes, Inc. Shareholders’ Equity
Common Stock	$ 467,647	$ 448,929

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Receivables, reserve	$ 21	$ 21
Intangible assets, accumulated amortization	41,649	39,618
Property and equipment, accumulated depreciation	$ 112,432	$ 113,624
Treasury stock, shares (in shares)	20,307,504	16,094,488
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
Common stock, shares outstanding (in shares)	89,197,952	93,410,968

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenue
Total Revenue	$ 366,008	$ 311,040	$ 690,772	$ 652,213
Operating Expenses
Compensation and Related	128,086	132,769	262,051	276,389
Distribution	84,243	38,115	132,804	82,504
Systems and Communications	18,446	18,954	37,940	37,549
Professional Service Fees	13,976	15,122	27,444	29,759
Office and Occupancy	10,512	11,082	21,835	22,322
Advertising and Promotional	4,736	4,623	7,468	7,447
Travel and Related	3,328	898	5,123	1,195
Other	10,363	7,668	19,840	15,761
Total Operating Expenses	273,690	229,231	514,505	472,926
Operating Income	92,318	81,809	176,267	179,287
Nonoperating Income (Expenses)
Investment Income, net	1,577	1,148	2,671	1,780
Gain (Loss) on Securities, net	(20,885)	6,245	(32,580)	7,624
Debt Expense	(3,350)	(346)	(4,571)	(837)
Other, net	(13)	(184)	68	161
Total Nonoperating Income (Expenses), net	(22,671)	6,863	(34,412)	8,728
Income Before Income Taxes	69,647	88,672	141,855	188,015
Income Tax Provision	18,889	35,193	36,500	60,190
Net Income Including the Noncontrolling Interests in Subsidiaries	50,758	53,479	105,355	127,825
Less: Net Income (Loss) Attributable to the Noncontrolling Interests in Subsidiaries	(6,899)	(2,405)	(8,165)	(2,543)
Net Income	$ 57,657	$ 55,884	$ 113,520	$ 130,368
Amounts Attributable to Federated Hermes, Inc.
Earnings Per Common Share—Basic (usd per share)	$ 0.64	$ 0.57	$ 1.24	$ 1.32
Earnings Per Common Share—Diluted (usd per share)	0.64	0.56	1.24	1.31
Cash Dividends Per Share (usd per share)	$ 0.27	$ 0.27	$ 0.54	$ 0.54
Investment Advisory Fees, net—Affiliates
Revenue
Total Revenue	$ 197,466	$ 149,107	$ 367,687	$ 332,941
Investment Advisory Fees, net—Other
Revenue
Total Revenue	60,577	65,182	123,350	129,037
Administrative Service Fees, net—Affiliates
Revenue
Total Revenue	70,182	77,750	143,689	152,051
Other Service Fees, net—Affiliates
Revenue
Total Revenue	33,248	15,192	46,855	31,062
Other Service Fees, net—Other
Revenue
Total Revenue	$ 4,535	$ 3,809	$ 9,191	$ 7,122

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net Income Including the Noncontrolling Interests in Subsidiaries	$ 50,758	$ 53,479	$ 105,355	$ 127,825
Permanent Equity
Foreign Currency Translation Gain (Loss)	(42,884)	1,495	(60,018)	5,053
Temporary Equity
Foreign Currency Translation Gain (Loss)	(1,068)	868	(1,525)	2,298
Other Comprehensive Income (Loss), net of tax	(43,952)	2,363	(61,543)	7,351
Comprehensive Income Including the Noncontrolling Interests in Subsidiaries	6,806	55,842	43,812	135,176
Less: Comprehensive Income (Loss) Attributable to Redeemable Noncontrolling Interests in Subsidiaries	(7,967)	(1,537)	(9,690)	(245)
Comprehensive Income Attributable to Federated Hermes, Inc.	$ 14,773	$ 57,379	$ 53,502	$ 135,421

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, 2020	$ 1,136,997	$ 418,858		$ 1,027,699	$ (324,731)	$ 15,171
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	74,484			74,484
Other Comprehensive Income (Loss), net of tax	3,558					3,558
Stock Award Activity	9,231	9,216		(15,234)	15,249
Dividends Declared	(26,788)			(26,788)
Change in Estimated Redemption Value of Redeemable Noncontrolling Interests	2,670			2,670
Purchase of Treasury Stock	(45,030)				(45,030)
Balance, end of period at Mar. 31, 2021	1,155,122	428,074		1,062,831	(354,512)	18,729
Temporary equity, beginning balance at Dec. 31, 2020	236,987						$ 236,987
Increase (Decrease) in Temporary Equity [Roll Forward]
Net Income (Loss)	(138)						(138)
Other Comprehensive Income (Loss), net of tax	1,430						1,430
Subscriptions—Redeemable Noncontrolling Interest Holders	25,762						25,762
Consolidation (Deconsolidation)	(16,237)						(16,237)
Stock Award Activity	2,481						2,481
Distributions to Noncontrolling Interests in Subsidiaries	(1,898)						(1,898)
Change in Estimated Redemption Value of Redeemable Noncontrolling Interests in FHL	(2,670)						(2,670)
Temporary equity, ending balance at Mar. 31, 2021	245,717						245,717
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	55,884			55,884
Other Comprehensive Income (Loss), net of tax	1,495					1,495
Stock Award Activity	7,776	7,760		(189)	205
Dividends Declared	(26,550)			(26,550)
Purchase of Treasury Stock	(31,797)				(31,797)
Balance, end of period at Jun. 30, 2021	1,161,930	435,834		1,091,976	(386,104)	20,224
Increase (Decrease) in Temporary Equity [Roll Forward]
Net Income (Loss)	(2,405)						(2,405)
Other Comprehensive Income (Loss), net of tax	868						868
Subscriptions—Redeemable Noncontrolling Interest Holders	899,962						899,962
Consolidation (Deconsolidation)	(894,175)						(894,175)
Stock Award Activity	2,518						2,518
Distributions to Noncontrolling Interests in Subsidiaries	(1,016)						(1,016)
Temporary equity, ending balance at Jun. 30, 2021	251,469						251,469
Balance, beginning of period at Dec. 31, 2021	1,114,017	449,118	$ 0	1,187,001	(538,464)	16,362
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	55,863			55,863
Other Comprehensive Income (Loss), net of tax	(17,134)					(17,134)
Stock Award Activity	9,319	9,288		(12,116)	12,147
Dividends Declared	(24,952)			(24,952)
Change in Estimated Redemption Value of Redeemable Noncontrolling Interests	(14,221)			(14,221)
Acquisition of Additional Equity of FHL	37,566		3,518		34,048
Purchase of Treasury Stock	(102,537)				(102,537)
Balance, end of period at Mar. 31, 2022	1,057,921	458,406	3,518	1,191,575	(594,806)	(772)
Temporary equity, beginning balance at Dec. 31, 2021	63,202						63,202
Increase (Decrease) in Temporary Equity [Roll Forward]
Net Income (Loss)	(1,266)						(1,266)
Other Comprehensive Income (Loss), net of tax	(457)						(457)
Subscriptions—Redeemable Noncontrolling Interest Holders	30,340						30,340
Consolidation (Deconsolidation)	(16,034)						(16,034)
Stock Award Activity	707						707
Distributions to Noncontrolling Interests in Subsidiaries	(4,339)						(4,339)
Change in Estimated Redemption Value of Redeemable Noncontrolling Interests in FHL	14,221						14,221
Acquisition of Additional Equity of FHL	(37,805)						(37,805)
Temporary equity, ending balance at Mar. 31, 2022	48,569						48,569
Balance, beginning of period at Dec. 31, 2021	1,114,017	449,118	0	1,187,001	(538,464)	16,362
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Purchase of Treasury Stock	(192,100)
Balance, end of period at Jun. 30, 2022	967,893	467,836	3,472	1,224,527	(684,286)	(43,656)
Temporary equity, beginning balance at Dec. 31, 2021	63,202						63,202
Temporary equity, ending balance at Jun. 30, 2022	54,731						54,731
Balance, beginning of period at Mar. 31, 2022	1,057,921	458,406	3,518	1,191,575	(594,806)	(772)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	57,657			57,657
Other Comprehensive Income (Loss), net of tax	(42,884)					(42,884)
Stock Award Activity	9,446	9,430	(46)	0	62
Dividends Declared	(24,705)			(24,705)
Purchase of Treasury Stock	(89,542)				(89,542)
Balance, end of period at Jun. 30, 2022	967,893	$ 467,836	$ 3,472	$ 1,224,527	$ (684,286)	$ (43,656)
Temporary equity, beginning balance at Mar. 31, 2022	48,569						48,569
Increase (Decrease) in Temporary Equity [Roll Forward]
Net Income (Loss)	(6,899)						(6,899)
Other Comprehensive Income (Loss), net of tax	(1,068)						(1,068)
Subscriptions—Redeemable Noncontrolling Interest Holders	15,314						15,314
Stock Award Activity							0
Distributions to Noncontrolling Interests in Subsidiaries	(1,185)						(1,185)
Temporary equity, ending balance at Jun. 30, 2022	$ 54,731						$ 54,731

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating Activities
Net Income Including the Noncontrolling Interests in Subsidiaries	$ 105,355	$ 127,825
Adjustments to Reconcile Net Income to Net Cash Provided (Used) by Operating Activities
Depreciation and Amortization	14,423	14,999
Share-Based Compensation Expense	18,720	16,976
Subsidiary Share-Based Compensation Expense	707	4,999
(Gain) Loss on Disposal of Assets	(737)	(5,163)
Provision (Benefit) for Deferred Income Taxes	(2,163)	18,678
Consolidation/(Deconsolidation) of Other Entities	(20)	11,029
Net Unrealized (Gain) Loss on Investments	33,315	(2,442)
Net Sales (Purchases) of Investments—Consolidated Investment Companies	(43,219)	(64,399)
Other Changes in Assets and Liabilities:
(Increase) Decrease in Receivables, net	10	6,933
(Increase) Decrease in Prepaid Expenses and Other Assets	(3,526)	(2,504)
Increase (Decrease) in Accounts Payable and Accrued Expenses	(53,008)	(67,723)
Increase (Decrease) in Other Liabilities	9,659	(4,257)
Net Cash Provided (Used) by Operating Activities	79,516	54,951
Investing Activities
Purchases of Investments—Affiliates and Other	(5,081)	(5,643)
Proceeds from Redemptions of Investments—Affiliates and Other	8,067	13,915
Cash Paid for Property and Equipment	(2,889)	(3,255)
Net Cash Provided (Used) by Investing Activities	97	5,017
Financing Activities
Dividends Paid	(49,659)	(53,339)
Purchases of Treasury Stock	(204,604)	(77,973)
Distributions to Noncontrolling Interests in Subsidiaries	(5,524)	(2,914)
Contributions from Noncontrolling Interests in Subsidiaries	45,654	34,394
Proceeds from New Borrowings	488,300	0
Payments on Debt	(311,650)	(10,000)
Other Financing Activities	(9,484)	(1,978)
Net Cash Provided (Used) by Financing Activities	(46,967)	(111,810)
Effect of Exchange Rates on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	(17,717)	1,826
Net Increase (Decrease) in Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	14,929	(50,016)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Beginning of Period	238,052	308,635
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, End of Period	252,981	258,619
Less: Restricted Cash Recorded in Other Current Assets	3,978	4,598
Less: Restricted Cash and Restricted Cash Equivalents Recorded in Other Long-Term Assets	271	289
Cash and Cash Equivalents	$ 248,732	$ 253,732

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Federated Hermes, Inc. and its consolidated subsidiaries (collectively, Federated Hermes) provide investment advisory, administrative, distribution and other services to various investment products, including sponsored investment companies, collective funds and other funds (Federated Hermes Funds) and separate accounts (which include separately managed accounts, institutional accounts, certain sub-advised funds and other managed products, collectively Separate Accounts) in both domestic and international markets. In addition, Federated Hermes markets and provides stewardship and real estate development services to various domestic and international companies. The interim consolidated financial statements of Federated Hermes included herein (Consolidated Financial Statements) have been prepared in accordance with United States (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 Consolidated Financial Statements, management is required to make estimates and assumptions that affect the amounts reported therein and in the accompanying notes. Actual results may differ from those estimates, and such differences may be material to the Consolidated Financial Statements.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies For a listing of Federated Hermes’ significant accounting policies, please refer to Federated Hermes’ Annual Report on Form 10-K for the year ended December 31, 2021.

Equity Acquisition

Equity Acquisition	6 Months Ended
	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Equity Acquisition	Equity Acquisition On March 14, 2022, Federated Hermes completed a tender offer resulting in the acquisition of the remaining approximate 10% noncontrolling interests in Federated Hermes Limited (FHL, formerly known as Hermes Fund Managers Limited) from a trustee of a non-U.S. domiciled employee benefit trust established for the benefit of certain members of FHL’s management, a non-U.S. resident former FHL employee and other non-U.S. resident key FHL employees under a long-term incentive plan established in connection with the 2018 acquisition of FHL (2022 Acquisition of FHL Noncontrolling Interests). Pursuant to the 2022 Acquisition of FHL Noncontrolling Interests, FHL became a 100% indirect, wholly-owned subsidiary of Federated Hermes. The 2022 Acquisition of FHL Noncontrolling Interests was transacted in shares whereby Federated Hermes issued awards of restricted Class B common stock under Federated Hermes Stock Incentive Plan and Federated Hermes UK Sub-Plan, as amended, and treasury Class B common stock, in exchange for the beneficial interests in shares of FHL. The FHL shares were exchanged at fair value for Federated Hermes shares valued at £36.4 million or $47.5 million, which was based on a third-party valuation of FHL. See Note (12) for additional information regarding the share exchange.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers The following table presents Federated Hermes’ revenue disaggregated by asset class: Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2022 2021 2022 2021 Equity $ 132,602 $ 171,595 $ 279,459 $ 337,953 Money market 145,807 49,286 232,097 129,978 Fixed-income 51,954 57,716 109,828 114,493 Other 1 35,645 32,443 69,388 69,789 Total Revenue $ 366,008 $ 311,040 $ 690,772 $ 652,213 1 Primarily includes Alternative / Private Markets (including but not limited to private equity, real estate and infrastructure), multi-asset and stewardship services revenue. The following table presents Federated Hermes’ revenue disaggregated by performance obligation: Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2022 2021 2022 2021 Asset Management 1 $ 258,043 $ 214,289 $ 491,037 $ 461,978 Administrative Services 70,182 77,750 143,689 152,051 Distribution 2 31,182 12,191 42,259 25,219 Other 3 6,601 6,810 13,787 12,965 Total Revenue $ 366,008 $ 311,040 $ 690,772 $ 652,213 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. A portion of this revenue relates to a performance obligation that has been satisfied in a prior period. 3 Primarily includes shareholder service fees and stewardship services revenue. The following table presents Federated Hermes’ revenue disaggregated by geographical market: Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2022 2021 2022 2021 Domestic $ 291,507 $ 224,283 $ 538,316 $ 480,773 Foreign 1 74,501 86,757 152,456 171,440 Total Revenue $ 366,008 $ 311,040 $ 690,772 $ 652,213 1 This represents revenue earned by non-U.S. domiciled subsidiaries. The following table presents Federated Hermes’ revenue disaggregated by product type: Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2022 2021 2022 2021 Federated Hermes Funds $ 300,896 $ 242,049 $ 558,231 $ 516,054 Separate Accounts 60,577 65,182 123,350 129,037 Other 1 4,535 3,809 9,191 7,122 Total Revenue $ 366,008 $ 311,040 $ 690,772 $ 652,213 1 Primarily includes stewardship services revenue. For nearly all revenue, Federated Hermes is not required to disclose certain estimates of revenue expected to be recorded in future periods as a result of applying the following exemptions: (1) contract terms are short-term in nature (i.e., expected duration of one year or less due to termination provisions) and (2) the expected variable consideration would be allocated entirely to future service periods. Federated Hermes expects to recognize revenue in the future related to the unsatisfied portion of the stewardship services and real estate development performance obligations at June 30, 2022. Generally, contracts are billed in arrears on a quarterly basis and have a three-year duration, after which the customer can terminate the agreement with notice, generally from three (in thousands) Remainder of 2022 $ 6,693 2023 6,006 2024 3,100 2025 and Thereafter 1,143 Total Remaining Unsatisfied Performance Obligations $ 16,942

Concentration Risk

Concentration Risk	6 Months Ended
	Jun. 30, 2022
Risks and Uncertainties [Abstract]
Concentration Risk	Concentration Risk (a) Revenue Concentration by Asset Class The following table presents Federated Hermes’ significant revenue concentration by asset class: Six Months Ended June 30, 2022 2021 Equity Assets 40 % 52 % Money Market Assets 34 % 20 % Fixed-Income Assets 16 % 18 % The change in the relative proportion of Federated Hermes’ revenue attributable to money market assets for the six months ended June 30, 2022, as compared to the same period in 2021, was primarily the result of a decrease in Voluntary Yield-related Fee Waivers. See section below entitled Low Short-Term Interest Rates. The change in the relative proportion of Federated Hermes’ revenue attributable to equity and fixed-income assets for the six months ended June 30, 2022 as compared to the same period in 2021, was primarily the result of lower average equity assets and increased money market revenue in 2022. Low Short-Term Interest Rates In March 2020, in response to disrupted economic activity as a result of the outbreak of a novel coronavirus (the Pandemic), the Federal Open Market Committee of the Federal Reserve Board (FOMC) decreased the federal funds target rate range to 0% - 0.25%. The federal funds target rate drives short-term interest rates. As a result of the near-zero interest-rate environment, the gross yield earned by certain money market funds was not sufficient to cover all of the fund’s operating expenses. Beginning in the first quarter 2020, Federated Hermes began to implement Voluntary Yield-related Fee Waivers in order for certain money market funds to maintain positive or zero net yields (Voluntary Yield-related Fee Waivers). These Voluntary Yield-related Fee Waivers have been partially offset by related reductions in distribution expense as a result of Federated Hermes’ mutual understanding and agreement with third-party intermediaries to share the impact of the Voluntary Yield-related Fee Waivers. In response to global economic activity and elevated inflation levels, the FOMC raised the federal funds target rate four times in 2022. The range is currently 2.25% - 2.50% as of the July 2022 FOMC meeting. These rate increases have nearly eliminated the net negative pre-tax impact of the Voluntary Yield-related Fee Waivers. During the three and six months ended June 30, 2022, Voluntary Yield-related Fee Waivers totaled $9.5 million and $85.3 million, respectively. These fee waivers were partially offset by related reductions in distribution expenses of $9.0 million and $66.5 million, respectively, such that the net negative pre-tax impact to Federated Hermes was $0.5 million and $18.8 million for the three and six months ended June 30, 2022, respectively. During the three and six months ended June 30, 2021, Voluntary Yield-related Fee Waivers totaled $117.8 million and $200.9 million, respectively. These fee waivers were partially offset by related reductions in distribution expenses of $71.0 million and $132.5 million, respectively, such that the net negative pre-tax impact to Federated Hermes was $46.8 million and $68.4 million for the three and six months ended June 30, 2021, respectively. (b) Revenue Concentration by Investment Fund Strategy The following table presents Federated Hermes’ revenue concentration by investment fund strategy: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Federated Hermes Government Obligations Fund 11 % 3 % 9 % 5 % Federated Hermes Kaufmann Fund and Federated Hermes Kaufmann Fund II 7 % 11 % 8 % 11 % Federated Hermes Global Emerging Markets strategy 5 % 10 % 6 % 9 % A significant and prolonged decline in the AUM in these funds/strategies could have a material adverse effect on Federated Hermes’ future revenues and, to a lesser extent, net income, due to a related reduction in distribution expenses associated with these funds. (c) Revenue Concentration by Intermediary Approximately 12% and 9% of Federated Hermes’ total revenue for the three- and six-month periods ended June 30, 2022, respectively, and 2% for both the three- and six-month periods ended June 30, 2021, was derived from services provided to one intermediary, The Bank of New York Mellon Corporation, including its Pershing subsidiary. The increase in 2022 was primarily due to the decrease in Voluntary Yield-related Fee Waivers. An increase in Voluntary Yield-related Fee Waivers or a negative change in Federated Hermes’ relationship with this intermediary may have a material adverse effect on Federated Hermes’ 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, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation	Consolidation The Consolidated Financial Statements include the accounts of Federated Hermes, certain Federated Hermes Funds and other entities in which Federated Hermes holds a controlling financial interest. Federated Hermes is involved with various entities in the normal course of business that may be deemed to be voting rights entities (VREs) or variable interest entities (VIEs). From time to time, Federated Hermes invests in Federated Hermes 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 Hermes’ investment in, and/or receivables from, these Federated Hermes Funds represents its maximum exposure to loss. The assets of each consolidated Federated Hermes Fund are restricted for use by that Federated Hermes Fund. Generally, neither creditors of, nor equity investors in, the Federated Hermes Funds have any recourse to Federated Hermes’ general credit. Given that the entities consolidated by Federated Hermes generally follow investment company accounting, which prescribes fair-value accounting, a deconsolidation generally does not result in the recognition of gains or losses for Federated Hermes. In the ordinary course of business, Federated Hermes may implement fee waivers, rebates or expense reimbursements for various Federated Hermes Funds for competitive reasons (such as Voluntary Yield-related Fee Waivers or to maintain certain fund expense ratios/yields), to meet regulatory requirements or to meet contractual requirements (collectively, Fee Waivers). For the three and six months ended June 30, 2022 Fee Waivers totaled $128.0 million and $326.5 million, respectively, of which $97.1 million and $261.9 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, 2021, Fee Waivers totaled $245.0 million and $446.1 million, respectively, of which $208.2 million and $376.3 million, respectively, related to money market funds which meet the scope exception of the consolidation guidance. Like other sponsors of investment companies, Federated Hermes in the ordinary course of business may make capital contributions to certain affiliated money market Federated Hermes Funds in connection with the reorganization of such funds into certain other affiliated money market Federated Hermes Funds or in connection with the liquidation of a money market Federated Hermes 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 market fund regulations and Securities and Exchange Commission (SEC) guidance, Federated Hermes 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 six months ended June 30, 2022 and no material contributions for the six months ended June 30, 2021. In accordance with Federated Hermes’ consolidation accounting policy, Federated Hermes first determines whether the entity being evaluated is a VRE or a VIE. Once this determination is made, Federated Hermes proceeds with its evaluation of whether to consolidate the entity. The disclosures below represent the results of such evaluations as of June 30, 2022 and December 31, 2021. (a) Consolidated Voting Rights Entities Although most of the Federated Hermes Funds meet the definition of a VRE, Federated Hermes consolidates VREs only when it is deemed to have control. Consolidated VREs are reported on Federated Hermes’ Consolidated Balance Sheets primarily in Investments—Consolidated Investment Companies and Redeemable Noncontrolling Interests in Subsidiaries. (b) Consolidated Variable Interest Entities As of the periods ended June 30, 2022 and December 31, 2021, Federated Hermes was deemed to be the primary beneficiary of, and therefore consolidated, certain entities as a result of its controlling financial interest. The following table presents the balances related to the consolidated VIEs that were included on the Consolidated Balance Sheets as well as Federated Hermes’ net interest in the consolidated VIEs for each period presented: (in millions) June 30, 2022 December 31, 2021 Cash and Cash Equivalents $ 7.4 $ 3.0 Investments—Consolidated Investment Companies 35.5 35.9 Other Assets 1.0 0.1 Long-Term Investments 13.3 13.8 Less: Liabilities 5.1 1.4 Less: Redeemable Noncontrolling Interests in Subsidiaries 39.0 33.3 Federated Hermes’ Net Interest in VIEs $ 13.1 $ 18.1 Federated Hermes’ net interest in the consolidated VIEs represents the value of Federated Hermes’ economic ownership interest in that VIE. There were no new consolidations or deconsolidations of VIEs during the six months ended June 30, 2022. (c) Non-Consolidated Variable Interest Entities Federated Hermes’ involvement with certain Federated Hermes Funds that are deemed to be VIEs includes serving as investment manager, or at times, holding a minority interest or both. Federated Hermes’ variable interest is not deemed to absorb losses or receive benefits that could potentially be significant to the VIE. Therefore, Federated Hermes is not the primary beneficiary of these VIEs and has not consolidated these entities. At June 30, 2022 and December 31, 2021, Federated Hermes’ maximum risk of loss related to investments in variable interests in non-consolidated VIEs was $108.4 million and $170.6 million, respectively, (primarily recorded in Cash and Cash Equivalents on the Consolidated Balance Sheets) and was entirely related to Federated Hermes Funds. AUM for these non-consolidated Federated Hermes Funds totaled $5.0 billion and $8.0 billion at June 30, 2022 and December 31, 2021, respectively. Of the Receivables—Affiliates at June 30, 2022 and December 31, 2021, $0.8 million and $0.7 million, respectively, related to non-consolidated VIEs and represented Federated Hermes’ maximum risk of loss from non-consolidated VIE receivables.

Investments

Investments	6 Months Ended
	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Investments	Investments At June 30, 2022 and December 31, 2021, Federated Hermes held investments in non-consolidated fluctuating-value Federated Hermes Funds of $68.9 million and $77.6 million, respectively, primarily in mutual funds which predominantly invest in equity securities, and held investments in Separate Accounts of $9.3 million and $10.2 million at June 30, 2022 and December 31, 2021, respectively, that were included in Investments—Affiliates and Other on the Consolidated Balance Sheets. Federated Hermes’ investments held in Separate Accounts as of June 30, 2022 and December 31, 2021, were primarily composed of domestic debt securities ($4.6 million and $5.2 million, respectively) and stocks of large domestic and foreign companies ($3.4 million at each period end). Federated Hermes consolidates certain Federated Hermes Funds into its Consolidated Financial Statements as a result of its controlling financial interest in these Federated Hermes Funds (see Note (6)). All investments held by these consolidated Federated Hermes Funds were included in Investments—Consolidated Investment Companies on Federated Hermes’ Consolidated Balance Sheets. The investments held by consolidated Federated Hermes Funds as of June 30, 2022 and December 31, 2021 were primarily composed of domestic and foreign debt securities ($62.3 million and $65.2 million, respectively), stocks of large domestic and foreign companies ($29.3 million and $28.5 million, respectively) and stocks of small and mid-sized domestic and foreign companies ($5.8 million and $7.4 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 Hermes’ investments: Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2022 2021 2022 2021 Investments—Consolidated Investment Companies Net Unrealized Gains (Losses) $ (12,395) $ 1,098 $ (17,583) $ (805) Net Realized Gains (Losses) 1 (1,016) 341 (1,478) 1,602 Net Gains (Losses) on Investments—Consolidated Investment Companies (13,411) 1,439 (19,061) 797 Investments—Affiliates and Other Net Unrealized Gains (Losses) (9,073) 1,665 (15,732) 3,247 Net Realized Gains (Losses) 1 1,599 3,141 2,213 3,580 Net Gains (Losses) on Investments—Affiliates and Other (7,474) 4,806 (13,519) 6,827 Gain (Loss) on Securities, net $ (20,885) $ 6,245 $ (32,580) $ 7,624 1 Realized gains and losses are computed on a specific-identification basis.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
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 have been excluded from the fair value hierarchy. (a) Fair Value Measurements on a Recurring Basis The following table presents fair value measurements for classes of Federated Hermes’ financial assets and liabilities measured at fair value on a recurring basis: (in thousands) Level 1 Level 2 Level 3 Total June 30, 2022 Financial Assets Cash and Cash Equivalents $ 248,732 $ 0 $ 0 $ 248,732 Investments—Consolidated Investment Companies 39,569 63,296 0 102,865 Investments—Affiliates and Other 73,090 5,054 26 78,170 Other 1 6,594 0 0 6,594 Total Financial Assets $ 367,985 $ 68,350 $ 26 $ 436,361 Total Financial Liabilities 2 $ 46 $ 8,502 $ 4,712 $ 13,260 December 31, 2021 Financial Assets Cash and Cash Equivalents $ 233,327 $ 0 $ 0 $ 233,327 Investments—Consolidated Investment Companies 38,799 66,743 0 105,542 Investments—Affiliates and Other 82,594 5,165 46 87,805 Other 1 7,105 0 0 7,105 Total Financial Assets $ 361,825 $ 71,908 $ 46 $ 433,779 Total Financial Liabilities 2 $ 0 $ 1,644 $ 11,652 $ 13,296 1 Amounts primarily consist of restricted cash and security deposits as of June 30, 2022 and December 31, 2021. 2 Amounts primarily consist of a derivative liability and acquisition-related future contingent consideration liabilities as of June 30, 2022 and December 31, 2021 . The following is a description of the valuation methodologies used for financial assets and liabilities measured at fair value on a recurring basis. Federated Hermes did not hold any nonfinancial assets or liabilities measured at fair value on a recurring basis at June 30, 2022 or December 31, 2021. Cash and Cash Equivalents Cash and Cash Equivalents include deposits with banks and investments in money market funds. Investments in money market funds totaled $205.8 million and $183.4 million at June 30, 2022 and December 31, 2021, 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 Investments—Consolidated Investment Companies represent securities held by consolidated Federated Hermes Funds. For publicly traded 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 values of certain securities held by consolidated Federated Hermes Funds are determined by third-party pricing services which utilize observable market inputs of comparable investments (Level 2). Investments—Affiliates and Other Investments—Affiliates and Other primarily represent investments in fluctuating-value Federated Hermes Funds, as well as investments held in Separate Accounts. For investments in fluctuating-value Federated Hermes Funds that are publicly available, the securities are valued under the market approach through the use of quoted market prices available in an active market, which is the NAV of the funds, and are classified within Level 1 of the valuation hierarchy. For publicly traded 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 values of certain securities are determined by third-party pricing services which utilize observable market inputs of comparable investments (Level 2). Acquisition-related future contingent consideration liabilities From time to time, pursuant to agreements entered into in connection with certain business combinations and asset acquisitions, Federated Hermes may be required to make future consideration payments if certain contingencies are met. In connection with certain business combinations, Federated Hermes records a liability representing the estimated fair value of future consideration payments as of the acquisition date. The liability is subsequently re-measured at fair value on a recurring basis with changes in fair value recorded in earnings. As of June 30, 2022, acquisition-related future consideration liabilities of $4.7 million were primarily related to business combinations made in the first quarter 2020 and were recorded in Other Current Liabilities ($0.8 million) and Other Long-Term Liabilities ($3.9 million) on the Consolidated Balance Sheets. Management estimated the fair value of future consideration payments based primarily upon expected future cash flows using an income approach valuation methodology with unobservable market data inputs (Level 3). The following table presents a reconciliation of the beginning and ending balances for Federated Hermes’ liability for future consideration payments related to these business combinations/asset acquisitions: (in thousands) Balance at December 31, 2021 $ 11,652 Changes in Fair Value (27) Contingent Consideration Payments (6,913) Balance at June 30, 2022 $ 4,712 Investments using Practical Expedients For investments in mutual funds that are not publicly available but for which the NAV is calculated monthly and for which there are redemption restrictions, the investments are valued using NAV as a practical expedient and are excluded from the fair value hierarchy. As of both June 30, 2022 and December 31, 2021, these investments totaled $17.5 million and were recorded in Other Long-Term Assets. (b) Fair Value Measurements on a Nonrecurring Basis Federated Hermes did not hold any assets or liabilities measured at fair value on a nonrecurring basis at June 30, 2022. (c) Fair Value Measurements of Other Financial Instruments The fair value of Federated Hermes’ 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, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives FHL, a British Pound Sterling-denominated subsidiary of Federated Hermes, enters into foreign currency forward transactions in order to hedge against foreign exchange rate fluctuations in the U.S. Dollar. None of the forwards have been designated as hedging instruments for accounting purposes. As of June 30, 2022, this subsidiary held foreign currency forwards with a combined notional amount of £69.1 million and expiration dates ranging from September 2022 through March 2023. Federated Hermes recorded $8.5 million in Other Current Liabilities on the Consolidated Balance Sheets, which represented the fair value of these derivative instruments as of June 30, 2022. As of December 31, 2021, FHL held foreign currency forwards with a combined notional amount of £69.6 million and expiration dates ranging from March 2022 through September 2022. Federated Hermes recorded $1.6 million in Other Current Liabilities on the Consolidated Balance Sheets, which represented the fair value of these derivative instruments as of December 31, 2021.

Intangible Assets, including Go

Intangible Assets, including Goodwill	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets, including Goodwill	Intangible Assets, including Goodwill Intangible Assets, net at June 30, 2022 decreased $38.1 million from December 31, 2021 primarily due to a $32.3 million decrease in the value of intangible assets denominated in a foreign currency as a result of foreign exchange rate fluctuations and $6.4 million of amortization expense.Goodwill at June 30, 2022 decreased $14.0 million from December 31, 2021 primarily as a result of foreign exchange rate fluctuations on goodwill denominated in a foreign currency.

Debt

Debt	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Debt	Debt Unsecured Senior Notes On March 17, 2022, Federated Hermes entered into a Note Purchase Agreement (Note Purchase Agreement) by and among Federated Hermes and the purchasers of certain unsecured senior notes in the aggregate amount of $350.0 million (Notes), at a fixed interest rate of 3.29% per annum, payable semiannually in arrears on the 17th day of March and September in each year of the agreement. Citigroup Global Markets Inc. and PNC Capital Markets LLC acted as lead placement agents in relation to the Notes and certain subsidiaries of Federated Hermes are guarantors of the obligations owed under the Note Purchase Agreement. As of June 30, 2022, $347.4 million, net of unamortized issuance cost in the amount of $2.6 million, was recorded in Long-Term Debt on the Consolidated Balance Sheets. T he entire principal amount of the Notes will become due March 17, 2032, subject to certain prepayment requirements under limited conditions. Federated Hermes may elect to prepay the Notes under certain limited circumstances including with a make-whole amount if mandatorily prepaid without the consent of the holders of the Notes. The Note Purchase Agreement does not feature a facility for the further i ssuance of additional notes or borrowing of any other amounts and there is no commitment fee payable in connection with the Notes. The Note Purchase Agreement includes an interest coverage ratio covenant and a leverage ratio covenant as well as other customary terms and conditions. Federated Hermes was in compliance with all of its covenants at and during the period ended June 30, 2022. See the Liquidity and Capital Resources section of Item 2 - Management’s Discussion and Analysis of Financial Condition and Results of Operations for additional information. The Note Purchase Agreement includes certain stated events of default and cross default provisions which would permit the lenders/counterparties to accelerate the repayment of the Notes if not cured within the applicable grace periods. The events of default generally include breaches of contract, failure to make required payments, insolvency, certain material misrepresentations and other proceedings, whether voluntary or involuntary, that would require the repayment of Notes prior to their stated date of maturity. Any such accelerated amounts would accrue interest at a default rate and could include an additional make-whole amount upon repayment. The Notes rank without preference or priority, with other unsecured and senior indebtedness of Federated Hermes. Revolving Credit Facility On July 30, 2021, Federated Hermes entered into an unsecured Fourth Amended and Restated Credit Agreement by and among Federated Hermes, certain of its subsidiaries as guarantors party thereto, a syndicate of eleven 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 Toronto-Dominion Bank, New York Branch as documentation agent (Credit Agreement). The Credit Agreement consists of a $350.0 million revolving credit facility with an additional $200.0 million available via an optional increase (or accordion) feature. The interest on the borrowings from the revolving credit facility is calculated at the London Interbank Offering Rate (LIBOR) based on the tenor selection plus a spread unless a base rate option is elected. The borrowings under the revolving credit facility may include up to $50 million for which interest is calculated at the daily LIBOR plus a spread unless a base rate option is elected (Swing Line). The Credit Agreement provides for a replacement reference interest rate index upon the eventual discontinuation of LIBOR, which can be either the term Secured Overnight Financing Rate (SOFR) plus a spread, daily simple SOFR plus a spread, each having a benchmark adjustment applied based on its historical relationship to LIBOR, or another alternative interest rate index (selected by the administrative agent and Federated Hermes) plus a spread. The Credit Agreement, which expires on July 30, 2026, has no principal payment schedule, but instead requires that any outstanding principal be repaid by the expiration date. Federated Hermes, however, may elect to make discretionary principal payments. During the six months ended June 30, 2022, Federated Hermes borrowed $138.3 million and repaid $311.7 million on the revolving credit facility under the Credit Agreement. As of June 30, 2022 and December 31, 2021, the amounts outstanding under the revolving credit facility were $50.0 million and $223.4 million, respectively, and were recorded as Long-Term Debt on the Consolidated Balance Sheets. The interest rate was 1.354% and 1.161% as of June 30, 2022 and December 31, 2021, respectively, which was calculated at LIBOR plus a spread. The commitment fee under the Credit Agreement is 0.10% per annum on the daily unused portion of each Lender’s commitment. As of June 30, 2022, Federated Hermes has $300.0 million available for borrowings under the revolving credit facility and an additional $200.0 million available via its optional accordion feature. 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 Hermes was in compliance with all covenants at and during the six months ended June 30, 2022. See the Liquidity and Capital Resources section of Item 2 - Management’s Discussion and Analysis of Financial Condition and Results of Operations for additional information.

Share-Based Compensation Plans

Share-Based Compensation Plans	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation Plans	Share-Based Compensation Plans In connection with the 2022 Acquisition of FHL Noncontrolling Interests, Federated Hermes granted 1,183,066 shares of restricted Federated Hermes Class B common stock pursuant to award agreements to certain FHL employees in exchange for their beneficial interests in awards of restricted FHL shares held on March 14, 2022. These shares of Federated Hermes Class B common stock were reserved for issuance under the Federated Hermes Stock Incentive Plan. Federated Hermes also issued a combined 318,807 shares of treasury Federated Hermes Class B common stock to a non-U.S. resident former FHL employee, and to the trustee of a non-U.S. domiciled employee benefit trust, in exchange for beneficial interests in the FHL shares held by them on March 14, 2022. The Federated Hermes shares now held by the employee benefit trust are to be used for future restricted stock awards for FHL management and key employees. See Note (3) for additional information. During the six months ended June 30, 2022, Federated Hermes awarded 509,043 shares of restricted Federated Hermes 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 Hermes’ Stock Incentive Plan. This restricted stock, which was granted on the bonus payment date and issued out of treasury, generally vests over a three-year period. During 2021, Federated Hermes awarded 1,218,613 shares of restricted Federated Hermes Class B common stock under its Stock Incentive Plan. Of this amount, 726,613 shares were awarded in connection with the aforementioned bonus program. The remaining shares were awarded to certain key employees and generally vest over a 10-year period.

Equity

Equity	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Equity	Equity In December 2021, the board of directors authorized a share repurchase program with no stated expiration date that allows the repurchase of up to 7.5 million shares of Class B common stock. In June 2022, the board of directors authorized a share repurchase program with no stated expiration date that allows the repurchase of up to 5.0 million shares of Class B common stock. No other programs existed as of June 30, 2022. The programs authorize 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 Hermes’ 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 six months ended June 30, 2022, Federated Hermes repurchased approximately 5.9 million shares of its Class B common stock for $192.1 million, nearly all of which were repurchased in the open market. At June 30, 2022, approximately 5.2 million shares remain available to be repurchased under these share repurchase programs. The following table presents the activity for the Class B common stock and Treasury stock for the three and six months ended June 30, 2022 and 2021. Class A shares have been excluded as there was no activity during these same periods. Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Class B Shares Beginning Balance 92,063,593 98,539,367 93,410,968 99,331,443 Stock Award Activity 12,050 11,750 1,704,592 724,674 Purchase of Treasury Stock (2,877,691) (993,100) (5,917,608) (2,498,100) Ending Balance 89,197,952 97,558,017 89,197,952 97,558,017 Treasury Shares Beginning Balance 17,441,863 10,966,089 16,094,488 10,174,013 Stock Award Activity (12,050) (11,750) (1,704,592) (724,674) Purchase of Treasury Stock 2,877,691 993,100 5,917,608 2,498,100 Ending Balance 20,307,504 11,947,439 20,307,504 11,947,439 Redeemable Noncontrolling Interests in Subsidiaries The following table presents the changes in Redeemable Noncontrolling Interests in Subsidiaries: (in thousands) Consolidated Investment Companies FHL and other entities Total Balance at December 31, 2021 $ 24,659 $ 38,543 $ 63,202 Net Income (Loss) (1,744) 478 (1,266) Other Comprehensive Income (Loss), net of tax 0 (457) (457) Subscriptions—Redeemable Noncontrolling Interest Holders 29,577 763 30,340 Consolidation/(Deconsolidation) (16,034) 0 (16,034) Stock Award Activity 0 707 707 Distributions to Noncontrolling Interests in Subsidiaries (771) (3,568) (4,339) Change in Estimated Redemption Value of Redeemable Noncontrolling Interests in FHL 0 14,221 14,221 Acquisition of Additional Equity of FHL 0 (37,805) (37,805) Balance at March 31, 2022 $ 35,687 $ 12,882 $ 48,569 Net Income (Loss) (7,616) 717 (6,899) Other Comprehensive Income (Loss), net of tax 0 (1,068) (1,068) Subscriptions—Redeemable Noncontrolling Interest Holders 14,977 337 15,314 Distributions to Noncontrolling Interests in Subsidiaries (1,024) (161) (1,185) Balance at June 30, 2022 $ 42,024 $ 12,707 $ 54,731 (in thousands) Consolidated Investment Companies FHL and other entities Total Balance at December 31, 2020 $ 24,246 $ 212,741 $ 236,987 Net Income (Loss) (1,091) 953 (138) Other Comprehensive Income (Loss), net of tax 0 1,430 1,430 Subscriptions—Redeemable Noncontrolling Interest Holders 25,762 0 25,762 Consolidation/(Deconsolidation) (25,419) 9,182 (16,237) Stock Award Activity 0 2,481 2,481 Distributions to Noncontrolling Interests in Subsidiaries (1,320) (578) (1,898) Change in Estimated Redemption Value of Redeemable Noncontrolling Interests in FHL 0 (2,670) (2,670) Balance at March 31, 2021 $ 22,178 $ 223,539 $ 245,717 Net Income (Loss) 682 (3,087) (2,405) Other Comprehensive Income (Loss), net of tax 0 868 868 Subscriptions—Redeemable Noncontrolling Interest Holders 899,250 712 899,962 Consolidation/(Deconsolidation) (894,175) 0 (894,175) Stock Award Activity 0 2,518 2,518 Distributions to Noncontrolling Interests in Subsidiaries (622) (394) (1,016) Balance at June 30, 2021 $ 27,313 $ 224,156 $ 251,469 The activity in 2021 includes $892.1 million of contributions from noncontrolling interests in subsidiaries as a result of a purchase-in-kind investment into a previously consolidated VRE. This was a noncash transaction and was therefore excluded from the Consolidated Statements of Cash Flows.

Earnings Per Share Attributable

Earnings Per Share Attributable to Federated Hermes, Inc. Shareholders	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share Attributable to Federated Hermes, Inc. Shareholders	Earnings Per Share Attributable to Federated Hermes, 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 Hermes: Three Months Ended Six Months Ended June 30, June 30, (in thousands, except per share data) 2022 2021 2022 2021 Numerator Net Income Attributable to Federated Hermes, Inc. $ 57,657 $ 55,884 $ 113,520 $ 130,368 Less: Total Net Income Available to Participating Unvested Restricted Shareholders 1 (3,218) (2,356) (5,785) (5,378) Total Net Income Attributable to Federated Hermes Common Stock - Basic $ 54,439 $ 53,528 $ 107,735 $ 124,990 Less: Total Net Income Available to Unvested Restricted Shareholders of a Nonpublic Consolidated Subsidiary 0 (572) 0 (831) Total Net Income Attributable to Federated Hermes Common Stock - Diluted $ 54,439 $ 52,956 $ 107,735 $ 124,159 Denominator Basic and Diluted Weighted-Average Federated Hermes Common Stock 2 85,373 93,964 86,706 94,588 Earnings Per Share Net Income Attributable to Federated Hermes Common Stock - Basic 2 $ 0.64 $ 0.57 $ 1.24 $ 1.32 Net Income Attributable to Federated Hermes Common Stock - Diluted 2 $ 0.64 $ 0.56 $ 1.24 $ 1.31 1 Includes dividends paid on unvested restricted Federated Hermes Class B common stock and their proportionate share of undistributed earnings attributable to Federated Hermes shareholders. 2

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss) Attributable to Federated Hermes, Inc. Shareholders	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss) Attributable to Federated Hermes, Inc. Shareholders	Accumulated Other Comprehensive Income (Loss) Attributable to Federated Hermes, Inc. Shareholders Accumulated Other Comprehensive Income (Loss), net of tax, attributable to Federated Hermes’ shareholders resulted from foreign currency translation gain (loss): (in thousands) Balance at December 31, 2021 $ 16,362 Other Comprehensive Income (Loss) (60,018) Balance at June 30, 2022 $ (43,656) Balance at December 31, 2020 $ 15,171 Other Comprehensive Income (Loss) 5,053 Balance at June 30, 2021 $ 20,224

Redeemable Noncontrolling Inter

Redeemable Noncontrolling Interests in Subsidiaries	6 Months Ended
	Jun. 30, 2022
Noncontrolling Interest [Abstract]
Redeemable Noncontrolling Interests in Subsidiaries	Equity In December 2021, the board of directors authorized a share repurchase program with no stated expiration date that allows the repurchase of up to 7.5 million shares of Class B common stock. In June 2022, the board of directors authorized a share repurchase program with no stated expiration date that allows the repurchase of up to 5.0 million shares of Class B common stock. No other programs existed as of June 30, 2022. The programs authorize 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 Hermes’ 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 six months ended June 30, 2022, Federated Hermes repurchased approximately 5.9 million shares of its Class B common stock for $192.1 million, nearly all of which were repurchased in the open market. At June 30, 2022, approximately 5.2 million shares remain available to be repurchased under these share repurchase programs. The following table presents the activity for the Class B common stock and Treasury stock for the three and six months ended June 30, 2022 and 2021. Class A shares have been excluded as there was no activity during these same periods. Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Class B Shares Beginning Balance 92,063,593 98,539,367 93,410,968 99,331,443 Stock Award Activity 12,050 11,750 1,704,592 724,674 Purchase of Treasury Stock (2,877,691) (993,100) (5,917,608) (2,498,100) Ending Balance 89,197,952 97,558,017 89,197,952 97,558,017 Treasury Shares Beginning Balance 17,441,863 10,966,089 16,094,488 10,174,013 Stock Award Activity (12,050) (11,750) (1,704,592) (724,674) Purchase of Treasury Stock 2,877,691 993,100 5,917,608 2,498,100 Ending Balance 20,307,504 11,947,439 20,307,504 11,947,439 Redeemable Noncontrolling Interests in Subsidiaries The following table presents the changes in Redeemable Noncontrolling Interests in Subsidiaries: (in thousands) Consolidated Investment Companies FHL and other entities Total Balance at December 31, 2021 $ 24,659 $ 38,543 $ 63,202 Net Income (Loss) (1,744) 478 (1,266) Other Comprehensive Income (Loss), net of tax 0 (457) (457) Subscriptions—Redeemable Noncontrolling Interest Holders 29,577 763 30,340 Consolidation/(Deconsolidation) (16,034) 0 (16,034) Stock Award Activity 0 707 707 Distributions to Noncontrolling Interests in Subsidiaries (771) (3,568) (4,339) Change in Estimated Redemption Value of Redeemable Noncontrolling Interests in FHL 0 14,221 14,221 Acquisition of Additional Equity of FHL 0 (37,805) (37,805) Balance at March 31, 2022 $ 35,687 $ 12,882 $ 48,569 Net Income (Loss) (7,616) 717 (6,899) Other Comprehensive Income (Loss), net of tax 0 (1,068) (1,068) Subscriptions—Redeemable Noncontrolling Interest Holders 14,977 337 15,314 Distributions to Noncontrolling Interests in Subsidiaries (1,024) (161) (1,185) Balance at June 30, 2022 $ 42,024 $ 12,707 $ 54,731 (in thousands) Consolidated Investment Companies FHL and other entities Total Balance at December 31, 2020 $ 24,246 $ 212,741 $ 236,987 Net Income (Loss) (1,091) 953 (138) Other Comprehensive Income (Loss), net of tax 0 1,430 1,430 Subscriptions—Redeemable Noncontrolling Interest Holders 25,762 0 25,762 Consolidation/(Deconsolidation) (25,419) 9,182 (16,237) Stock Award Activity 0 2,481 2,481 Distributions to Noncontrolling Interests in Subsidiaries (1,320) (578) (1,898) Change in Estimated Redemption Value of Redeemable Noncontrolling Interests in FHL 0 (2,670) (2,670) Balance at March 31, 2021 $ 22,178 $ 223,539 $ 245,717 Net Income (Loss) 682 (3,087) (2,405) Other Comprehensive Income (Loss), net of tax 0 868 868 Subscriptions—Redeemable Noncontrolling Interest Holders 899,250 712 899,962 Consolidation/(Deconsolidation) (894,175) 0 (894,175) Stock Award Activity 0 2,518 2,518 Distributions to Noncontrolling Interests in Subsidiaries (622) (394) (1,016) Balance at June 30, 2021 $ 27,313 $ 224,156 $ 251,469 The activity in 2021 includes $892.1 million of contributions from noncontrolling interests in subsidiaries as a result of a purchase-in-kind investment into a previously consolidated VRE. This was a noncash transaction and was therefore excluded from the Consolidated Statements of Cash Flows.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies (a) Contractual From time to time, pursuant to agreements entered into in connection with certain business combinations and asset acquisitions, Federated Hermes is obligated to make future payments under various agreements to which it is a party. See Note (8) for additional information regarding these payments. (b) Guarantees and Indemnifications On an intercompany basis, various subsidiaries of Federated Hermes guarantee certain financial obligations of Federated Hermes, Inc. and of other consolidated subsidiaries, and Federated Hermes, Inc. guarantees certain financial and performance-related obligations of various wholly-owned subsidiaries. In addition, in the normal course of business, Federated Hermes 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 Hermes, under which Federated Hermes 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 Hermes is contingent on the other party making a claim for indemnity, subject to Federated Hermes’ right to challenge the claim. Further, Federated Hermes’ 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 Hermes’ obligations and the unique facts and circumstances involved in each particular agreement. As of June 30, 2022, management does not believe that a material loss related to any of these matters is reasonably possible. (c) Legal Proceedings Like other companies, Federated Hermes has claims asserted and threatened against it in the ordinary course of business. As of June 30, 2022, Federated Hermes does not believe that a material loss related to any of these claims is reasonably possible.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On July 15, 2022, Federated Hermes entered into a definitive agreement to acquire substantially all of the assets of C.W. Henderson and Associates, Inc. (Seller), a Chicago-based registered investment advisor. The initial purchase price is expected to be $30 million based on current asset levels and assuming a certain level of consents to assignment of Seller’s investment advisory contracts are obtained. The agreement also involves the opportunity to earn a series of contingent purchase price payments, which can total as much as $20 million in the aggregate and can become payable annually over the next five years based on certain levels of net revenue growth being obtained. The transaction has been approved by Federated Hermes’ board of directors and Seller’s board of directors and shareholders, and is subject to customary conditions to closing. The transaction is expected to close in the third quarter 2022. On July 28, 2022, Federated Hermes’ board of directors declared a $0.27 per share dividend to Federated Hermes’ Class A and Class B common stock shareholders of record as of August 8, 2022 to be paid on August 15, 2022. On July 28, 2022, Federated Hermes’ board of directors authorized the retirement of 10 million treasury shares which restored these shares to authorized but unissued status. Federated Hermes recorded a $313.8 million reduction to Treasury Stock, at cost using the specific-identification method and a $42.7 million reduction to Class B common stock, at cost using the average cost method. The difference was recorded as a reduction to Retained Earnings and Additional Paid-In Capital from Treasury Stock Transactions. There was no impact to total equity as a result of this non-cash transaction.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Federated Hermes, Inc. and its consolidated subsidiaries (collectively, Federated Hermes) provide investment advisory, administrative, distribution and other services to various investment products, including sponsored investment companies, collective funds and other funds (Federated Hermes Funds) and separate accounts (which include separately managed accounts, institutional accounts, certain sub-advised funds and other managed products, collectively Separate Accounts) in both domestic and international markets. In addition, Federated Hermes markets and provides stewardship and real estate development services to various domestic and international companies. The interim consolidated financial statements of Federated Hermes included herein (Consolidated Financial Statements) have been prepared in accordance with United States (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.
Use of Estimates	In preparing the Consolidated Financial Statements, management is required to make estimates and assumptions that affect the amounts reported therein and in the accompanying notes. Actual results may differ from those estimates, and such differences may be material to the Consolidated Financial Statements.
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.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table presents Federated Hermes’ revenue disaggregated by asset class: Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2022 2021 2022 2021 Equity $ 132,602 $ 171,595 $ 279,459 $ 337,953 Money market 145,807 49,286 232,097 129,978 Fixed-income 51,954 57,716 109,828 114,493 Other 1 35,645 32,443 69,388 69,789 Total Revenue $ 366,008 $ 311,040 $ 690,772 $ 652,213 1 Primarily includes Alternative / Private Markets (including but not limited to private equity, real estate and infrastructure), multi-asset and stewardship services revenue. The following table presents Federated Hermes’ revenue disaggregated by performance obligation: Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2022 2021 2022 2021 Asset Management 1 $ 258,043 $ 214,289 $ 491,037 $ 461,978 Administrative Services 70,182 77,750 143,689 152,051 Distribution 2 31,182 12,191 42,259 25,219 Other 3 6,601 6,810 13,787 12,965 Total Revenue $ 366,008 $ 311,040 $ 690,772 $ 652,213 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. A portion of this revenue relates to a performance obligation that has been satisfied in a prior period. 3 Primarily includes shareholder service fees and stewardship services revenue. The following table presents Federated Hermes’ revenue disaggregated by geographical market: Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2022 2021 2022 2021 Domestic $ 291,507 $ 224,283 $ 538,316 $ 480,773 Foreign 1 74,501 86,757 152,456 171,440 Total Revenue $ 366,008 $ 311,040 $ 690,772 $ 652,213 1 This represents revenue earned by non-U.S. domiciled subsidiaries. The following table presents Federated Hermes’ revenue disaggregated by product type: Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2022 2021 2022 2021 Federated Hermes Funds $ 300,896 $ 242,049 $ 558,231 $ 516,054 Separate Accounts 60,577 65,182 123,350 129,037 Other 1 4,535 3,809 9,191 7,122 Total Revenue $ 366,008 $ 311,040 $ 690,772 $ 652,213 1 Primarily includes stewardship services revenue.
Schedule of Remaining Unsatisfied Performance Obligations	Based on existing contracts and the applicable foreign exchange rates as of June 30, 2022, Federated Hermes may recognize future fixed revenue from these services as presented in the following table: (in thousands) Remainder of 2022 $ 6,693 2023 6,006 2024 3,100 2025 and Thereafter 1,143 Total Remaining Unsatisfied Performance Obligations $ 16,942

Concentration Risk (Tables)

Concentration Risk (Tables)	6 Months Ended
	Jun. 30, 2022
Risks and Uncertainties [Abstract]
Schedule of Revenue Concentration	The following table presents Federated Hermes’ significant revenue concentration by asset class: Six Months Ended June 30, 2022 2021 Equity Assets 40 % 52 % Money Market Assets 34 % 20 % Fixed-Income Assets 16 % 18 % The following table presents Federated Hermes’ revenue concentration by investment fund strategy: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Federated Hermes Government Obligations Fund 11 % 3 % 9 % 5 % Federated Hermes Kaufmann Fund and Federated Hermes Kaufmann Fund II 7 % 11 % 8 % 11 % Federated Hermes Global Emerging Markets strategy 5 % 10 % 6 % 9 %

Consolidation (Tables)

Consolidation (Tables)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Consolidated Federated Funds VIE	The following table presents the balances related to the consolidated VIEs that were included on the Consolidated Balance Sheets as well as Federated Hermes’ net interest in the consolidated VIEs for each period presented: (in millions) June 30, 2022 December 31, 2021 Cash and Cash Equivalents $ 7.4 $ 3.0 Investments—Consolidated Investment Companies 35.5 35.9 Other Assets 1.0 0.1 Long-Term Investments 13.3 13.8 Less: Liabilities 5.1 1.4 Less: Redeemable Noncontrolling Interests in Subsidiaries 39.0 33.3 Federated Hermes’ Net Interest in VIEs $ 13.1 $ 18.1

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Schedule of 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 Hermes’ investments: Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2022 2021 2022 2021 Investments—Consolidated Investment Companies Net Unrealized Gains (Losses) $ (12,395) $ 1,098 $ (17,583) $ (805) Net Realized Gains (Losses) 1 (1,016) 341 (1,478) 1,602 Net Gains (Losses) on Investments—Consolidated Investment Companies (13,411) 1,439 (19,061) 797 Investments—Affiliates and Other Net Unrealized Gains (Losses) (9,073) 1,665 (15,732) 3,247 Net Realized Gains (Losses) 1 1,599 3,141 2,213 3,580 Net Gains (Losses) on Investments—Affiliates and Other (7,474) 4,806 (13,519) 6,827 Gain (Loss) on Securities, net $ (20,885) $ 6,245 $ (32,580) $ 7,624 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, 2022
Fair Value Disclosures [Abstract]
Schedule of Classes of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	The following table presents fair value measurements for classes of Federated Hermes’ financial assets and liabilities measured at fair value on a recurring basis: (in thousands) Level 1 Level 2 Level 3 Total June 30, 2022 Financial Assets Cash and Cash Equivalents $ 248,732 $ 0 $ 0 $ 248,732 Investments—Consolidated Investment Companies 39,569 63,296 0 102,865 Investments—Affiliates and Other 73,090 5,054 26 78,170 Other 1 6,594 0 0 6,594 Total Financial Assets $ 367,985 $ 68,350 $ 26 $ 436,361 Total Financial Liabilities 2 $ 46 $ 8,502 $ 4,712 $ 13,260 December 31, 2021 Financial Assets Cash and Cash Equivalents $ 233,327 $ 0 $ 0 $ 233,327 Investments—Consolidated Investment Companies 38,799 66,743 0 105,542 Investments—Affiliates and Other 82,594 5,165 46 87,805 Other 1 7,105 0 0 7,105 Total Financial Assets $ 361,825 $ 71,908 $ 46 $ 433,779 Total Financial Liabilities 2 $ 0 $ 1,644 $ 11,652 $ 13,296 1 Amounts primarily consist of restricted cash and security deposits as of June 30, 2022 and December 31, 2021. 2 Amounts primarily consist of a derivative liability and acquisition-related future contingent consideration liabilities as of June 30, 2022 and December 31, 2021
Schedule of Reconciliation of Liability for Future Consideration Payments	The following table presents a reconciliation of the beginning and ending balances for Federated Hermes’ liability for future consideration payments related to these business combinations/asset acquisitions: (in thousands) Balance at December 31, 2021 $ 11,652 Changes in Fair Value (27) Contingent Consideration Payments (6,913) Balance at June 30, 2022 $ 4,712

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Schedule of 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, 2022 and 2021. Class A shares have been excluded as there was no activity during these same periods. Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Class B Shares Beginning Balance 92,063,593 98,539,367 93,410,968 99,331,443 Stock Award Activity 12,050 11,750 1,704,592 724,674 Purchase of Treasury Stock (2,877,691) (993,100) (5,917,608) (2,498,100) Ending Balance 89,197,952 97,558,017 89,197,952 97,558,017 Treasury Shares Beginning Balance 17,441,863 10,966,089 16,094,488 10,174,013 Stock Award Activity (12,050) (11,750) (1,704,592) (724,674) Purchase of Treasury Stock 2,877,691 993,100 5,917,608 2,498,100 Ending Balance 20,307,504 11,947,439 20,307,504 11,947,439

Earnings Per Share Attributab_2

Earnings Per Share Attributable to Federated Hermes, Inc. Shareholders (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of 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 Hermes: Three Months Ended Six Months Ended June 30, June 30, (in thousands, except per share data) 2022 2021 2022 2021 Numerator Net Income Attributable to Federated Hermes, Inc. $ 57,657 $ 55,884 $ 113,520 $ 130,368 Less: Total Net Income Available to Participating Unvested Restricted Shareholders 1 (3,218) (2,356) (5,785) (5,378) Total Net Income Attributable to Federated Hermes Common Stock - Basic $ 54,439 $ 53,528 $ 107,735 $ 124,990 Less: Total Net Income Available to Unvested Restricted Shareholders of a Nonpublic Consolidated Subsidiary 0 (572) 0 (831) Total Net Income Attributable to Federated Hermes Common Stock - Diluted $ 54,439 $ 52,956 $ 107,735 $ 124,159 Denominator Basic and Diluted Weighted-Average Federated Hermes Common Stock 2 85,373 93,964 86,706 94,588 Earnings Per Share Net Income Attributable to Federated Hermes Common Stock - Basic 2 $ 0.64 $ 0.57 $ 1.24 $ 1.32 Net Income Attributable to Federated Hermes Common Stock - Diluted 2 $ 0.64 $ 0.56 $ 1.24 $ 1.31 1 Includes dividends paid on unvested restricted Federated Hermes Class B common stock and their proportionate share of undistributed earnings attributable to Federated Hermes shareholders. 2

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) Attributable to Federated Hermes, Inc. Shareholders (Tables)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss), net of tax, attributable to Federated Hermes’ shareholders resulted from foreign currency translation gain (loss): (in thousands) Balance at December 31, 2021 $ 16,362 Other Comprehensive Income (Loss) (60,018) Balance at June 30, 2022 $ (43,656) Balance at December 31, 2020 $ 15,171 Other Comprehensive Income (Loss) 5,053 Balance at June 30, 2021 $ 20,224

Redeemable Noncontrolling Int_2

Redeemable Noncontrolling Interests in Subsidiaries (Tables)	6 Months Ended
	Jun. 30, 2022
Noncontrolling Interest [Abstract]
Schedule of Changes in Redeemable Noncontrolling Interest in Subsidiaries	The following table presents the changes in Redeemable Noncontrolling Interests in Subsidiaries: (in thousands) Consolidated Investment Companies FHL and other entities Total Balance at December 31, 2021 $ 24,659 $ 38,543 $ 63,202 Net Income (Loss) (1,744) 478 (1,266) Other Comprehensive Income (Loss), net of tax 0 (457) (457) Subscriptions—Redeemable Noncontrolling Interest Holders 29,577 763 30,340 Consolidation/(Deconsolidation) (16,034) 0 (16,034) Stock Award Activity 0 707 707 Distributions to Noncontrolling Interests in Subsidiaries (771) (3,568) (4,339) Change in Estimated Redemption Value of Redeemable Noncontrolling Interests in FHL 0 14,221 14,221 Acquisition of Additional Equity of FHL 0 (37,805) (37,805) Balance at March 31, 2022 $ 35,687 $ 12,882 $ 48,569 Net Income (Loss) (7,616) 717 (6,899) Other Comprehensive Income (Loss), net of tax 0 (1,068) (1,068) Subscriptions—Redeemable Noncontrolling Interest Holders 14,977 337 15,314 Distributions to Noncontrolling Interests in Subsidiaries (1,024) (161) (1,185) Balance at June 30, 2022 $ 42,024 $ 12,707 $ 54,731 (in thousands) Consolidated Investment Companies FHL and other entities Total Balance at December 31, 2020 $ 24,246 $ 212,741 $ 236,987 Net Income (Loss) (1,091) 953 (138) Other Comprehensive Income (Loss), net of tax 0 1,430 1,430 Subscriptions—Redeemable Noncontrolling Interest Holders 25,762 0 25,762 Consolidation/(Deconsolidation) (25,419) 9,182 (16,237) Stock Award Activity 0 2,481 2,481 Distributions to Noncontrolling Interests in Subsidiaries (1,320) (578) (1,898) Change in Estimated Redemption Value of Redeemable Noncontrolling Interests in FHL 0 (2,670) (2,670) Balance at March 31, 2021 $ 22,178 $ 223,539 $ 245,717 Net Income (Loss) 682 (3,087) (2,405) Other Comprehensive Income (Loss), net of tax 0 868 868 Subscriptions—Redeemable Noncontrolling Interest Holders 899,250 712 899,962 Consolidation/(Deconsolidation) (894,175) 0 (894,175) Stock Award Activity 0 2,518 2,518 Distributions to Noncontrolling Interests in Subsidiaries (622) (394) (1,016) Balance at June 30, 2021 $ 27,313 $ 224,156 $ 251,469

Equity Acquisition - Narrative

Equity Acquisition - Narrative (Details) £ in Millions, $ in Millions	Mar. 14, 2022 GBP (£)	Mar. 14, 2022 USD ($)
Federated Hermes Limited
Business Acquisition [Line Items]
Ownership percentage	100%	100%
Federated Hermes Limited
Business Acquisition [Line Items]
Additional equity interests acquired	10%	10%
Class B Shares | Federated Hermes Limited
Business Acquisition [Line Items]
Conversion of stock, amount converted	£ 36.4	$ 47.5

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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Total Revenue	$ 366,008	$ 311,040	$ 690,772	$ 652,213
Equity
Disaggregation of Revenue [Line Items]
Total Revenue	132,602	171,595	279,459	337,953
Money market
Disaggregation of Revenue [Line Items]
Total Revenue	145,807	49,286	232,097	129,978
Fixed-income
Disaggregation of Revenue [Line Items]
Total Revenue	51,954	57,716	109,828	114,493
Other
Disaggregation of Revenue [Line Items]
Total Revenue	$ 35,645	$ 32,443	$ 69,388	$ 69,789

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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Total Revenue	$ 366,008	$ 311,040	$ 690,772	$ 652,213
Asset Management
Disaggregation of Revenue [Line Items]
Total Revenue	258,043	214,289	491,037	461,978
Administrative Services
Disaggregation of Revenue [Line Items]
Total Revenue	70,182	77,750	143,689	152,051
Distribution
Disaggregation of Revenue [Line Items]
Total Revenue	31,182	12,191	42,259	25,219
Other
Disaggregation of Revenue [Line Items]
Total Revenue	$ 6,601	$ 6,810	$ 13,787	$ 12,965

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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Total Revenue	$ 366,008	$ 311,040	$ 690,772	$ 652,213
Domestic
Disaggregation of Revenue [Line Items]
Total Revenue	291,507	224,283	538,316	480,773
Foreign
Disaggregation of Revenue [Line Items]
Total Revenue	$ 74,501	$ 86,757	$ 152,456	$ 171,440

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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Total Revenue	$ 366,008	$ 311,040	$ 690,772	$ 652,213
Federated Hermes Funds
Disaggregation of Revenue [Line Items]
Total Revenue	300,896	242,049	558,231	516,054
Separate Accounts
Disaggregation of Revenue [Line Items]
Total Revenue	60,577	65,182	123,350	129,037
Other
Disaggregation of Revenue [Line Items]
Total Revenue	$ 4,535	$ 3,809	$ 9,191	$ 7,122

Revenue from Contracts with C_7

Revenue from Contracts with Customers - Narrative (Details)	6 Months Ended
	Jun. 30, 2022
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 notice, generally from three to 12 months.
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 and Real Estate Development Services (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Revenue from Contract with Customer [Abstract]
Total Remaining Unsatisfied Performance Obligations	$ 16,942
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Revenue from Contract with Customer [Abstract]
Total Remaining Unsatisfied Performance Obligations	$ 6,693
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]: 2023-01-01
Revenue from Contract with Customer [Abstract]
Total Remaining Unsatisfied Performance Obligations	$ 6,006
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]: 2024-01-01
Revenue from Contract with Customer [Abstract]
Total Remaining Unsatisfied Performance Obligations	$ 3,100
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]: 2025-01-01
Revenue from Contract with Customer [Abstract]
Total Remaining Unsatisfied Performance Obligations	$ 1,143
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 - Revenue Benchmark	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Equity Assets
Concentration Risk [Line Items]
Concentration risk	40%	52%
Money Market Assets
Concentration Risk [Line Items]
Concentration risk	34%	20%
Fixed-Income Assets
Concentration Risk [Line Items]
Concentration risk	16%	18%

Concentration Risk - Narrative

Concentration Risk - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Concentration Risk [Line Items]
Voluntary yield-related fee waivers	$ 9.5	$ 117.8	$ 85.3	$ 200.9
Decrease in distribution expenses	9	71	66.5	132.5
Net negative pre-tax impact	$ 0.5	$ 46.8	$ 18.8	$ 68.4
Customer Concentration Risk | Revenue benchmark | Bank of New York Mellon Corporation
Concentration Risk [Line Items]
Concentration risk	12%	2%	9%	2%

Concentration Risk - Schedule_2

Concentration Risk - Schedule of Revenue Concentration by Investment Strategy/Fund (Details) - Product Concentration Risk - Revenue benchmark	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Federated Hermes Government Obligations Fund
Concentration Risk [Line Items]
Concentration risk	11%	3%	9%	5%
Federated Hermes Kaufmann Fund and Federated Hermes Kaufmann Fund II
Concentration Risk [Line Items]
Concentration risk	7%	11%	8%	11%
Federated Hermes Global Emerging Markets strategy
Concentration Risk [Line Items]
Concentration risk	5%	10%	6%	9%

Consolidation - Narrative (Deta

Consolidation - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Variable Interest Entities [Line Items]
Fee waivers	$ 128,000,000	$ 245,000,000	$ 326,500,000	$ 446,100,000
Variable Interest Entity Not Primary Beneficiary
Variable Interest Entities [Line Items]
Assets under managed investments	5,000,000,000		5,000,000,000		$ 8,000,000,000
Cash and Cash Equivalents | Variable Interest Entity Not Primary Beneficiary
Variable Interest Entities [Line Items]
Federated Hermes' maximum risk of loss in non-consolidated investment companies	108,400,000		108,400,000		170,600,000
Receivables - Affiliates | Variable Interest Entity Not Primary Beneficiary
Variable Interest Entities [Line Items]
Federated Hermes' maximum risk of loss in non-consolidated investment companies	800,000		800,000		$ 700,000
Financial Support, Fee Waivers
Variable Interest Entities [Line Items]
Money market funds which meet the scope exception of the consolidation guidance	$ 97,100,000	$ 208,200,000	261,900,000	376,300,000
Financial Support, Capital Contributions
Variable Interest Entities [Line Items]
Money market funds which meet the scope exception of the consolidation guidance			$ 0	$ 0

Consolidation - Consolidated Fe

Consolidation - Consolidated Federated Fund VIEs (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Variable Interest Entities [Line Items]
Consolidated VIE assets	$ 1,951,917	$ 2,018,187
Less: Liabilities	929,293	840,968
Variable Interest Entity, Primary Beneficiary
Variable Interest Entities [Line Items]
Less: Liabilities	5,100	1,400
Less: Redeemable Noncontrolling Interests in Subsidiaries	39,000	33,300
Federated Hermes’ Net Interest in VIEs	13,100	18,100
Cash and Cash Equivalents | Variable Interest Entity, Primary Beneficiary
Variable Interest Entities [Line Items]
Consolidated VIE assets	7,400	3,000
Investments—Consolidated Investment Companies | Variable Interest Entity, Primary Beneficiary
Variable Interest Entities [Line Items]
Consolidated VIE assets	35,500	35,900
Other Assets | Variable Interest Entity, Primary Beneficiary
Variable Interest Entities [Line Items]
Consolidated VIE assets	1,000	100
Long-Term Investments | Variable Interest Entity, Primary Beneficiary
Variable Interest Entities [Line Items]
Consolidated VIE assets	$ 13,300	$ 13,800

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Schedule of Investments [Line Items]
Investments—Affiliates and Other	$ 78,170	$ 87,805
Investments - consolidated investment companies	102,865	105,542
Debt Securities
Schedule of Investments [Line Items]
Investments - consolidated investment companies	62,300	65,200
Stocks of Large Companies
Schedule of Investments [Line Items]
Investments - consolidated investment companies	29,300	28,500
Stocks of Small and Mid Sized Companies
Schedule of Investments [Line Items]
Investments - consolidated investment companies	5,800	7,400
Federated Hermes Funds
Schedule of Investments [Line Items]
Investments—Affiliates and Other	68,900	77,600
Separate Accounts
Schedule of Investments [Line Items]
Investments—Affiliates and Other	9,300	10,200
Separate Accounts | Debt Securities
Schedule of Investments [Line Items]
Investments—Affiliates and Other	4,600	5,200
Separate Accounts | Stocks of Large Companies
Schedule of Investments [Line Items]
Investments—Affiliates and Other	$ 3,400	$ 3,400

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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
(Loss) Gain on Securities [Line Items]
Net Unrealized Gains (Losses)			$ (33,315)	$ 2,442
Gain (Loss) on Securities, net	$ (20,885)	$ 6,245	(32,580)	7,624
Investments—Consolidated Investment Companies
(Loss) Gain on Securities [Line Items]
Net Unrealized Gains (Losses)	(12,395)	1,098	(17,583)	(805)
Net Realized Gains (Losses)	(1,016)	341	(1,478)	1,602
Gain (Loss) on Securities, net	(13,411)	1,439	(19,061)	797
Investments—Affiliates and Other
(Loss) Gain on Securities [Line Items]
Net Unrealized Gains (Losses)	(9,073)	1,665	(15,732)	3,247
Net Realized Gains (Losses)	1,599	3,141	2,213	3,580
Gain (Loss) on Securities, net	$ (7,474)	$ 4,806	$ (13,519)	$ 6,827

Fair Value Measurements - Class

Fair Value Measurements - Classes of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Financial Assets
Investments—Consolidated Investment Companies	$ 102,865	$ 105,542
Investments—Affiliates and Other	78,170	87,805
Fair Value, Measurements, Recurring
Financial Assets
Cash and Cash Equivalents	248,732	233,327
Investments—Consolidated Investment Companies	102,865	105,542
Investments—Affiliates and Other	78,170	87,805
Other	6,594	7,105
Total Financial Assets	436,361	433,779
Financial Liabilities
Total Financial Liabilities	13,260	13,296
Fair Value, Measurements, Recurring | Level 1
Financial Assets
Cash and Cash Equivalents	248,732	233,327
Investments—Consolidated Investment Companies	39,569	38,799
Investments—Affiliates and Other	73,090	82,594
Other	6,594	7,105
Total Financial Assets	367,985	361,825
Financial Liabilities
Total Financial Liabilities	46	0
Fair Value, Measurements, Recurring | Level 2
Financial Assets
Cash and Cash Equivalents	0	0
Investments—Consolidated Investment Companies	63,296	66,743
Investments—Affiliates and Other	5,054	5,165
Other	0	0
Total Financial Assets	68,350	71,908
Financial Liabilities
Total Financial Liabilities	8,502	1,644
Fair Value, Measurements, Recurring | Level 3
Financial Assets
Cash and Cash Equivalents	0	0
Investments—Consolidated Investment Companies	0	0
Investments—Affiliates and Other	26	46
Other	0	0
Total Financial Assets	26	46
Financial Liabilities
Total Financial Liabilities	$ 4,712	$ 11,652

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Acquisition-related future consideration liabilities	$ 4.7
Acquisition-related future consideration liabilities recorded in other current liabilities	0.8
Acquisition-related future consideration liabilities recorded in other long-term liabilities	3.9
Money market
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	205.8	$ 183.4
Mutual Fund | NAV
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other financial assets	$ 17.5	$ 17.5

Fair Value Measurements - Recon

Fair Value Measurements - Reconciliation of Liability for Future Consideration Payments (Details) - Contingent Consideration $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at December 31, 2021	$ 11,652
Changes in Fair Value	(27)
Contingent Consideration Payments	(6,913)
Balance at June 30, 2022	$ 4,712

Derivatives (Details)

Derivatives (Details) - Foreign Currency Forward £ in Millions, $ in Millions	Jun. 30, 2022 GBP (£)	Jun. 30, 2022 USD ($)	Dec. 31, 2021 GBP (£)	Dec. 31, 2021 USD ($)
Derivative [Line Items]
Derivative liability, notional amount | £	£ 69.1		£ 69.6
Other Current Liabilities
Derivative [Line Items]
Derivative liability | $		$ 8.5		$ 1.6

Intangible Assets, including _2

Intangible Assets, including Goodwill (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Increase (decrease) in intangible assets	$ (38.1)
Decrease in value of intangible assets denominated in a foreign currency as a result of foreign exchange rate fluctuations	32.3
Amortization expense for finite-lived intangible assets	6.4
Goodwill, period increase (decrease)	$ (14)

Debt (Details)

Debt (Details)	6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Mar. 17, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jul. 30, 2021 USD ($) bank
Debt Instrument [Line Items]
Long-term debt, net of issuance costs	$ 397,448,000			$ 223,350,000
Number of banks as lenders | bank					11
Line of credit facility, maximum borrowing capacity					$ 350,000,000
Optional increase (or an accordion feature)					200,000,000
Proceeds from revolving credit facility	138,300,000
Amount of revolving credit facility repaid	311,650,000	$ 10,000,000
Amounts outstanding under the revolving credit facility	$ 50,000,000			$ 223,400,000
Interest rate at period end	1.354%			1.161%
Commitment fee	0.10%
Available for borrowings	$ 300,000,000
Senior Notes | Unsecured Senior Notes
Debt Instrument [Line Items]
Aggregate amount			$ 350,000,000
Fixed rate			3.29%
Long-term debt, net of issuance costs	347,400,000
Issuance costs, net	$ 2,600,000
Swing Line
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity					$ 50,000,000

Share-Based Compensation Plans

Share-Based Compensation Plans (Details) - shares		6 Months Ended	12 Months Ended
	Mar. 14, 2022	Jun. 30, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awarded in period (in shares)		509,043	1,218,613
Class B Common Stock Bonus
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awarded in period (in shares)			726,613
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
Class B Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awarded in period (in shares)	1,183,066
Shares issued in period (in shares)	318,807

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Equity, Class of Treasury Stock [Line Items]
Purchase of treasury stock (in shares)	2,877,691		993,100		5,917,608	2,498,100
Purchase of treasury stock	$ 89,542	$ 102,537	$ 31,797	$ 45,030	$ 192,100
Class B Shares
Equity, Class of Treasury Stock [Line Items]
Number of shares authorized under share repurchase program (in shares)	5,000,000				5,000,000		7,500,000
Purchase of treasury stock (in shares)					5,900,000
Remaining number of shares authorized to be repurchased (in shares)	5,200,000				5,200,000

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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance (in shares)	17,441,863	10,966,089	16,094,488	10,174,013
Stock Award Activity (in shares)	(12,050)	(11,750)	(1,704,592)	(724,674)
Purchase of Treasury Stock (in shares)	2,877,691	993,100	5,917,608	2,498,100
Ending Balance (in shares)	20,307,504	11,947,439	20,307,504	11,947,439
Class B Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance (in shares)	92,063,593	98,539,367	93,410,968	99,331,443
Stock Award Activity (in shares)	12,050	11,750	1,704,592	724,674
Purchase of Treasury Stock (in shares)	(2,877,691)	(993,100)	(5,917,608)	(2,498,100)
Ending Balance (in shares)	89,197,952	97,558,017	89,197,952	97,558,017
Purchase of Treasury Stock (in shares)			5,900,000

Earnings Per Share Attributab_3

Earnings Per Share Attributable to Federated Hermes, Inc. Shareholders (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Numerator
Net Income Attributable to Federated Hermes, Inc.	$ 57,657	$ 55,884	$ 113,520	$ 130,368
Less: Total Net Income Available to Participating Unvested Restricted Shareholders	(3,218)	(2,356)	(5,785)	(5,378)
Total Net Income Attributable to Federated Hermes Common Stock - Basic	54,439	53,528	107,735	124,990
Less: Total Net Income Available to Unvested Restricted Shareholders of a Nonpublic Consolidated Subsidiary	0	(572)	0	(831)
Total Net Income Attributable to Federated Hermes Common Stock - Diluted	$ 54,439	$ 52,956	$ 107,735	$ 124,159
Denominator
Basic Weighted-Average Federated Hermes Common Stock (in shares)	85,373	93,964	86,706	94,588
Diluted Weighted-Average Federated Hermes Common Stock (in shares)	85,373	93,964	86,706	94,588
Net Income Attributable to Federated Hermes Common Stock – Basic (usd per share)	$ 0.64	$ 0.57	$ 1.24	$ 1.32
Net Income Attributable to Federated Hermes Common Share—Diluted (usd per share)	$ 0.64	$ 0.56	$ 1.24	$ 1.31

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) Attributable to Federated Hermes, Inc. Shareholders (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Accumulated Other Comprehensive Income (Loss), net of tax [Rollforward]
Balance, beginning of period	$ 1,114,017	$ 1,136,997
Balance, end of period	967,893	1,161,930
Foreign Currency Translation Gain (Loss)
Accumulated Other Comprehensive Income (Loss), net of tax [Rollforward]
Balance, beginning of period	16,362	15,171
Other Comprehensive Income (Loss)	(60,018)	5,053
Balance, end of period	$ (43,656)	$ 20,224

Redeemable Noncontrolling Int_3

Redeemable Noncontrolling Interests in Subsidiaries (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021
Increase (Decrease) in Temporary Equity [Roll Forward]
Temporary equity, beginning balance	$ 48,569	$ 63,202	$ 245,717	$ 236,987
Net Income (Loss)	(6,899)	(1,266)	(2,405)	(138)
Other Comprehensive Income (Loss), net of tax	(1,068)	(457)	868	1,430
Subscriptions—Redeemable Noncontrolling Interest Holders	15,314	30,340	899,962	25,762
Consolidation/(Deconsolidation)		(16,034)	(894,175)	(16,237)
Stock Award Activity		707	2,518	2,481
Distributions to Noncontrolling Interests in Subsidiaries	(1,185)	(4,339)	(1,016)	(1,898)
Change in Estimated Redemption Value of Redeemable Noncontrolling Interests in FHL		14,221		(2,670)
Acquisition of Additional Equity of FHL		(37,805)
Temporary equity, ending balance	54,731	48,569	251,469	245,717
Consolidated Investment Companies
Increase (Decrease) in Temporary Equity [Roll Forward]
Temporary equity, beginning balance	35,687	24,659	22,178	24,246
Net Income (Loss)	(7,616)	(1,744)	682	(1,091)
Subscriptions—Redeemable Noncontrolling Interest Holders	14,977	29,577	899,250	25,762
Consolidation/(Deconsolidation)		(16,034)	(894,175)	(25,419)
Distributions to Noncontrolling Interests in Subsidiaries	(1,024)	(771)	(622)	(1,320)
Temporary equity, ending balance	42,024	35,687	27,313	22,178
FHL and other entities
Increase (Decrease) in Temporary Equity [Roll Forward]
Temporary equity, beginning balance	12,882	38,543	223,539	212,741
Net Income (Loss)	717	478	(3,087)	953
Other Comprehensive Income (Loss), net of tax	(1,068)	(457)	868	1,430
Subscriptions—Redeemable Noncontrolling Interest Holders	337	763	712
Consolidation/(Deconsolidation)				9,182
Stock Award Activity		707	2,518	2,481
Distributions to Noncontrolling Interests in Subsidiaries	(161)	(3,568)	(394)	(578)
Change in Estimated Redemption Value of Redeemable Noncontrolling Interests in FHL		14,221		(2,670)
Acquisition of Additional Equity of FHL		(37,805)
Temporary equity, ending balance	$ 12,707	$ 12,882	$ 224,156	$ 223,539

Redeemable Noncontrolling Int_4

Redeemable Noncontrolling Interests in Subsidiaries - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021 USD ($)
Noncontrolling Interest [Abstract]
Contributions from noncontrolling Interest	$ 892.1

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended				6 Months Ended
	Jul. 28, 2022	Jul. 15, 2022	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022
Subsequent Event [Line Items]
Retirement of treasury stock			$ (89,542)	$ (102,537)	$ (31,797)	$ (45,030)	$ (192,100)
Subsequent Event
Subsequent Event [Line Items]
Maturity of contingent purchase price payments		5 years
Treasury stock, retired (in shares)	10,000,000
Retirement of treasury stock	$ (313,800)
Subsequent Event | Class A Shares
Subsequent Event [Line Items]
Dividends declared (usd per share)	$ 0.27
Subsequent Event | Class B Shares
Subsequent Event [Line Items]
Dividends declared (usd per share)	$ 0.27
Retirement of treasury stock	$ (42,700)
Subsequent Event | C.W. Henderson and Associates
Subsequent Event [Line Items]
Acquisition price		$ 30,000
Maximum contingent purchase price payments		$ 20,000