Federated Hermes (FHI) 10-Q 3 Aug 21 2021 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2021	Jul. 26, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
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	2021
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		97,556,117

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current Assets
Cash and Cash Equivalents	$ 253,732	$ 301,819
Investments—Consolidated Investment Companies	98,925	91,359
Investments—Affiliates and Other	71,544	45,593
Receivables, net of reserve of $16 and $16, respectively	64,709	64,857
Receivables—Affiliates	32,776	41,107
Prepaid Expenses	34,115	22,130
Other Current Assets	8,398	8,478
Total Current Assets	564,199	575,343
Long-Term Assets
Goodwill	801,941	800,267
Intangible Assets, net of accumulated amortization of $33,583 and $26,372, respectively	479,515	481,753
Property and Equipment, net of accumulated depreciation of $113,757 and $106,317, respectively	48,413	52,610
Right-of-Use Assets, net	116,370	122,078
Other Long-Term Assets	34,510	28,788
Total Long-Term Assets	1,480,749	1,485,496
Total Assets	2,044,948	2,060,839
Current Liabilities
Accounts Payable and Accrued Expenses	65,460	61,736
Accrued Compensation and Benefits	101,744	170,646
Lease Liabilities	17,099	15,845
Other Current Liabilities	28,870	17,219
Total Current Liabilities	213,173	265,446
Long-Term Liabilities
Long-Term Debt	65,000	75,000
Long-Term Deferred Tax Liability, net	205,985	187,937
Long-Term Lease Liabilities	114,490	121,922
Other Long-Term Liabilities	32,901	36,550
Total Long-Term Liabilities	418,376	421,409
Total Liabilities	631,549	686,855
Commitments and Contingencies (Note (15))
TEMPORARY EQUITY
Redeemable Noncontrolling Interest in Subsidiaries	251,469	236,987
Federated Hermes, Inc. Shareholders' Equity
Retained Earnings	1,091,976	1,027,699
Treasury Stock, at Cost, 11,947,439 and 10,174,013 Shares Class B Common Stock, respectively	(386,104)	(324,731)
Accumulated Other Comprehensive Income (Loss), net of tax	20,224	15,171
Total Permanent Equity	1,161,930	1,136,997
Total Liabilities, Temporary Equity and Permanent Equity	2,044,948	2,060,839
Class A
Federated Hermes, Inc. Shareholders' Equity
Common Stock	189	189
Class B
Federated Hermes, Inc. Shareholders' Equity
Common Stock	$ 435,645	$ 418,669

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Receivables, reserve	$ 16	$ 16
Intangible assets, accumulated amortization	33,583	26,372
Property and equipment, accumulated depreciation	$ 113,757	$ 106,317
Treasury stock, shares (in shares)	11,947,439	10,174,013
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)	97,558,017	99,331,443

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue
Total Revenue	$ 311,040	$ 360,712	$ 652,213	$ 719,895
Operating Expenses
Compensation and Related	132,769	123,583	276,389	238,918
Distribution	38,115	89,038	82,504	185,198
Systems and Communications	18,954	15,091	37,549	29,987
Professional Service Fees	15,122	13,888	29,759	27,156
Office and Occupancy	11,082	10,190	22,322	21,961
Advertising and Promotional	4,623	3,065	7,447	8,061
Travel and Related	898	325	1,195	3,484
Other	7,668	8,281	15,761	15,135
Total Operating Expenses	229,231	263,461	472,926	529,900
Operating Income	81,809	97,251	179,287	189,995
Nonoperating Income (Expenses)
Investment Income, net	1,148	1,013	1,780	2,402
Gain (Loss) on Securities, net	6,245	13,828	7,624	(2,012)
Debt Expense	(346)	(785)	(837)	(1,717)
Other, net	(184)	(24)	161	8,322
Total Nonoperating Income (Expenses), net	6,863	14,032	8,728	6,995
Income Before Income Taxes	88,672	111,283	188,015	196,990
Income Tax Provision	35,193	26,482	60,190	48,924
Net Income Including the Noncontrolling Interests in Subsidiaries	53,479	84,801	127,825	148,066
Less: Net Income (Loss) Attributable to the Noncontrolling Interests in Subsidiaries	(2,405)	3,605	(2,543)	2,692
Net Income	$ 55,884	$ 81,196	$ 130,368	$ 145,374
Amounts Attributable to Federated Hermes, Inc.
Earnings Per Common Share—Basic (usd per share)	$ 0.57	$ 0.81	$ 1.32	$ 1.44
Earnings Per Common Share—Diluted (usd per share)	0.56	0.80	1.31	1.44
Cash Dividends Per Share (usd per share)	$ 0.27	$ 0.27	$ 0.54	$ 0.54
Investment Advisory Fees, net—Affiliates
Revenue
Total Revenue	$ 149,107	$ 187,026	$ 332,941	$ 370,265
Investment Advisory Fees, net—Other
Revenue
Total Revenue	65,182	58,100	129,037	115,522
Administrative Service Fees, net—Affiliates
Revenue
Total Revenue	77,750	83,733	152,051	155,932
Other Service Fees, net—Affiliates
Revenue
Total Revenue	15,192	28,366	31,062	69,812
Other Service Fees, net—Other
Revenue
Total Revenue	$ 3,809	$ 3,487	$ 7,122	$ 8,364

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net Income Including the Noncontrolling Interests in Subsidiaries	$ 53,479	$ 84,801	$ 127,825	$ 148,066
Permanent Equity
Foreign Currency Translation Gain (Loss)	1,495	(713)	5,053	(25,572)
Temporary Equity
Foreign Currency Translation Gain (Loss)	868	(435)	2,298	(11,889)
Other Comprehensive Income (Loss), net of tax	2,363	(1,148)	7,351	(37,461)
Comprehensive Income Including the Noncontrolling Interests in Subsidiaries	55,842	83,653	135,176	110,605
Less: Comprehensive Income (Loss) Attributable to Redeemable Noncontrolling Interest in Subsidiaries	(1,537)	3,170	(245)	(9,197)
Comprehensive Income Attributable to Federated Hermes, Inc.	$ 57,379	$ 80,483	$ 135,421	$ 119,802

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Common Stock	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, 2019	$ 1,041,280	$ 392,210	$ 930,351	$ (281,032)	$ (249)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	64,178		64,178
Other Comprehensive Income (Loss), net of tax	(24,859)				(24,859)
Stock Award Activity	7,467	7,467	(16,146)	16,146
Dividends Declared	(27,304)		(27,304)
Change in Estimated Redemption Value of Redeemable Noncontrolling Interests	(1,870)		(1,870)
Purchase of Treasury Stock	(15,959)			(15,959)
Balance, end of period at Mar. 31, 2020	1,042,933	399,677	949,209	(280,845)	(25,108)
Temporary equity, beginning balance at Dec. 31, 2019	212,086					$ 212,086
Increase (Decrease) in Temporary Equity [Roll Forward]
Net Income (Loss)	(913)					(913)
Other Comprehensive Income (Loss), net of tax	(11,454)					(11,454)
Subscriptions—Redeemable Noncontrolling Interest Holders	5,577					5,577
Consolidation (Deconsolidation)	(4,019)					(4,019)
Stock Award Activity	2,153					2,153
Distributions to Noncontrolling Interest in Subsidiaries	(6,039)					(6,039)
Change in Estimated Redemption Value of Redeemable Noncontrolling Interests	1,870					1,870
Temporary equity, ending balance at Mar. 31, 2020	199,261					199,261
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	81,196		81,196
Other Comprehensive Income (Loss), net of tax	(713)				(713)
Stock Award Activity	6,607	6,456	(678)	829
Dividends Declared	(27,243)		(27,243)
Change in Estimated Redemption Value of Redeemable Noncontrolling Interests	2,013		2,013
Purchase of Treasury Stock	(18,126)			(18,126)
Balance, end of period at Jun. 30, 2020	1,086,667	406,133	1,004,497	(298,142)	(25,821)
Increase (Decrease) in Temporary Equity [Roll Forward]
Net Income (Loss)	3,605					3,605
Other Comprehensive Income (Loss), net of tax	(435)					(435)
Subscriptions—Redeemable Noncontrolling Interest Holders	6,225					6,225
Stock Award Activity	2,087					2,087
Distributions to Noncontrolling Interest in Subsidiaries	(4,058)					(4,058)
Change in Estimated Redemption Value of Redeemable Noncontrolling Interests	(2,013)					(2,013)
Temporary equity, ending balance at Jun. 30, 2020	204,672					204,672
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 Interest in Subsidiaries	(1,898)					(1,898)
Change in Estimated Redemption Value of Redeemable Noncontrolling Interests	(2,670)					(2,670)
Temporary equity, ending balance at Mar. 31, 2021	245,717					245,717
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]
Purchase of Treasury Stock	(76,800)
Balance, end of period at Jun. 30, 2021	1,161,930	435,834	1,091,976	(386,104)	20,224
Temporary equity, beginning balance at Dec. 31, 2020	236,987					236,987
Temporary equity, ending balance at Jun. 30, 2021	251,469					251,469
Balance, beginning of period at Mar. 31, 2021	1,155,122	428,074	1,062,831	(354,512)	18,729
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
Temporary equity, beginning balance at Mar. 31, 2021	245,717					245,717
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 Interest in Subsidiaries	(1,016)					(1,016)
Temporary equity, ending balance at Jun. 30, 2021	$ 251,469					$ 251,469

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Operating Activities
Net Income Including the Noncontrolling Interests in Subsidiaries	$ 127,825	$ 148,066
Adjustments to Reconcile Net Income to Net Cash Provided (Used) by Operating Activities
Amortization of Deferred Sales Commissions	434	770
Depreciation and Other Amortization	14,565	14,088
Share-Based Compensation Expense	16,976	13,935
Subsidiary Share-Based Compensation Expense	4,999	4,240
(Gain) Loss on Disposal of Assets	(5,163)	1,172
Provision (Benefit) for Deferred Income Taxes	18,678	6,637
Consolidation/(Deconsolidation) of Other Entities	11,029	(3,051)
Net Unrealized (Gain) Loss on Investments	(2,442)	870
Net Sales (Purchases) of Investments—Consolidated Investment Companies	(64,399)	4,275
Other Changes in Assets and Liabilities:
(Increase) Decrease in Receivables, net	6,933	(10,904)
(Increase) Decrease in Prepaid Expenses and Other Assets	(2,504)	(10,135)
Increase (Decrease) in Accounts Payable and Accrued Expenses	(67,723)	(47,938)
Increase (Decrease) in Other Liabilities	(4,257)	31,372
Net Cash Provided (Used) by Operating Activities	54,951	153,397
Investing Activities
Purchases of Investments—Affiliates and Other	(5,643)	(15,508)
Cash Paid for Business Acquisitions, Net of Cash Acquired	0	2,697
Proceeds from Redemptions of Investments—Affiliates and Other	13,915	3,905
Cash Paid for Property and Equipment	(3,255)	(4,979)
Net Cash Provided (Used) by Investing Activities	5,017	(13,885)
Financing Activities
Dividends Paid	(53,339)	(54,559)
Purchases of Treasury Stock	(77,973)	(32,911)
Distributions to Noncontrolling Interest in Subsidiaries	(2,914)	(10,097)
Contributions from Noncontrolling Interest in Subsidiaries	34,394	11,802
Proceeds from New Borrowings	0	100,000
Payments on Debt	(10,000)	(110,000)
Other Financing Activities	(1,978)	(1,683)
Net Cash Provided (Used) by Financing Activities	(111,810)	(97,448)
Effect of Exchange Rates on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	1,826	(7,576)
Net Increase (Decrease) in Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	(50,016)	34,488
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Beginning of Period	308,635	249,511
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, End of Period	258,619	283,999
Less: Restricted Cash Recorded in Other Current Assets	4,598	5,849
Less: Restricted Cash and Restricted Cash Equivalents Recorded in Other Long-Term Assets	289	310
Cash and Cash Equivalents	$ 253,732	$ 277,840

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2021
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) 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 have been prepared in accordance with U.S. generally accepted accounting principles (GAAP). In the opinion of management, the financial statements reflect all adjustments that are of a normal recurring nature and necessary for a fair presentation of the results for the interim periods presented. In preparing the financial statements, management is required to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying notes. Actual results may differ from those estimates, and such differences may be material to the Consolidated Financial Statements.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
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, 2020. The following accounting policy has been updated as a result of newly consolidated variable interest entities (VIEs). Consolidation of Variable Interest Entities Federated Hermes has a controlling financial interest in a VIE and is, therefore, deemed to be the primary beneficiary of a VIE if it has (1) the power to direct the activities of a VIE that most significantly impact the VIE's economic performance and (2) the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. Financial information for certain entities, whose primary purpose is to collect and distribute carried interest paid by foreign private equity and infrastructure funds, is not available timely and is therefore consolidated on a one quarter lag, adjusted for any known material carried interest revenue and compensation transactions occurring through the balance sheet date.

Business Combinations

Business Combinations	6 Months Ended
	Jun. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Business Combinations	Business Combinations HCL Acquisition On March 5, 2020, Federated Hermes acquired, effective as of March 1, 2020, 100 percent ownership of HGPE Capital Limited (HCL Acquisition) for £15.9 million ($20.4 million). The principal activity of HGPE Capital Limited is that of a holding company for an infrastructure and private equity investment management business. As a result of the acquisition of HGPE Capital Limited, Federated Hermes gained control of Hermes GPE LLP (HGPE) (collectively with HGPE Capital Limited, HCL). The addition of London-based HCL provides the opportunity to further accelerate and broaden Federated Hermes' global growth. The HCL Acquisition included upfront cash payments that totaled £11.2 million ($14.3 million). The transaction also includes contingent purchase price payments payable through December 2024 that were deposited into escrow. The maximum contingent purchase price payments, recorded in Other Long-Term Liabilities, total £3.5 million ($4.5 million as of March 1, 2020), which represents the payment of certain future carried interest. Prior to March 1, 2020, Federated Hermes accounted for its partial ownership interest in HGPE as an equity-method investment recorded in Other Long-Term Assets on the Consolidated Balance Sheets. Management used an independent valuation expert to assist in estimating the fair value of this equity interest in HGPE using primarily the discounted cash flow methodology under the income approach. The acquisition-date fair value of this previous equity interest was $34.5 million. In the first quarter 2020, Federated Hermes recognized a gain of $7.5 million as a result of remeasuring the prior equity interest in HGPE held before the business combination and the consolidation of HGPE. This gain is included in Nonoperating Income (Expenses) - Other, net on the Consolidated Statements of Income. Federated Hermes performed a valuation of the fair market value of acquired assets and assumed liabilities of the HCL Acquisition. The accounting for this acquisition was finalized in the first quarter 2021. During the first quarter 2021, Federated Hermes recorded adjustments that primarily resulted from the consolidation of certain foreign subsidiaries not previously consolidated. The provisional amounts recognized for certain acquired assets and incurred liabilities were adjusted by $25.8 million and $17.2 million, respectively, with the net offset of $8.6 million recorded to the related redeemable noncontrolling interest in subsidiary. This adjustment reflected facts and circumstances that existed as of the acquisition date. As a result of the consolidation of these subsidiaries, Federated Hermes recorded revenue of $6.9 million offset by $6.9 million of Compensation and Related expense, which represented the income and expense that would have been recorded had these entities been consolidated on March 1, 2020. There was no change to net income or earnings per share for the three-month period ended March 31, 2021 as a result of these adjustments. The following table summarizes the final purchase price allocation determined as of the purchase date: (in millions) Cash and Cash Equivalents $ 32.7 Other Current Assets 1 11.8 Goodwill 2 19.1 Intangible Assets 3 27.6 Other Long-Term Assets 16.4 Less: Liabilities Acquired (44.1) Less: Fair Value of Redeemable Noncontrolling Interest in Subsidiary 4 (43.1) Total Purchase Price Consideration $ 20.4 1 Includes $5.0 million of accounts receivable. 2 The goodwill recognized is attributable to enhanced revenue and AUM growth opportunities from future investors and the assembled workforce of HGPE. In this instance, goodwill is not deductible for tax purposes. 3 Includes $20.3 million for rights to manage fund assets for private equity funds with a weighted-average useful life of 9.0 years and $6.9 million for rights to manage fund assets for infrastructure funds with a weighted-average useful life of 11.0 years, all of which are recorded in Intangible Assets, net on the Consolidated Balance Sheets.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
	Jun. 30, 2021
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) 2021 2020 2021 2020 Equity $ 171,595 $ 123,328 $ 337,953 $ 260,618 Fixed-income 57,716 43,691 114,493 90,297 Money market 49,286 157,430 129,978 308,850 Other 1 32,443 36,263 69,789 60,130 Total Revenue $ 311,040 $ 360,712 $ 652,213 $ 719,895 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) 2021 2020 2021 2020 Asset Management 1 $ 214,289 $ 245,126 $ 461,978 $ 485,787 Administrative Services 77,750 83,733 152,051 155,932 Distribution 2 12,191 25,579 25,219 64,513 Other 3 6,810 6,274 12,965 13,663 Total Revenue $ 311,040 $ 360,712 $ 652,213 $ 719,895 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) 2021 2020 2021 2020 Domestic $ 224,283 $ 292,784 $ 480,773 $ 589,147 Foreign 1 86,757 67,928 171,440 130,748 Total Revenue $ 311,040 $ 360,712 $ 652,213 $ 719,895 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) 2021 2020 2021 2020 Federated Hermes Funds $ 242,049 $ 299,125 $ 516,054 $ 596,009 Separate Accounts 65,182 58,100 129,037 115,522 Other 1 3,809 3,487 7,122 8,364 Total Revenue $ 311,040 $ 360,712 $ 652,213 $ 719,895 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, 2021. 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 2021 $ 8,037 2022 5,528 2023 3,067 2024 and Thereafter 1,951 Total Remaining Unsatisfied Performance Obligations $ 18,583

Concentration Risk

Concentration Risk	6 Months Ended
	Jun. 30, 2021
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, 2021 2020 Equity Assets 52 % 36 % Money Market Assets 20 % 43 % Fixed-Income Assets 18 % 13 % The change in the relative proportion of Federated Hermes' revenue attributable to money market assets for the six months ended June 30, 2021, as compared to the same period in 2020, was primarily the result of an increase in 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, 2021, as compared to the same period in 2020, was primarily the result of decreased money market revenue mentioned above and higher average equity and fixed-income assets in 2021. Low Short-Term Interest Rates In March 2020, in response to disrupted economic activity as a result of the outbreak of a novel coronavirus (Covid-19, or 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 is not sufficient to cover all of the fund's operating expenses. Beginning in the first quarter 2020, Federated Hermes began to waive fees 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. 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. During the three and six months ended June 30, 2020, Voluntary Yield-related Fee Waivers totaled $19.7 million and $20.1 million, respectively. These fee waivers were partially offset by related reductions in distribution expenses of $17.7 million and $18.0 million, respectively, such that the net negative pre-tax impact to Federated Hermes was $2.0 million and $2.1 million for the three and six months ended June 30, 2020, respectively. See Management's Discussion and Analysis under the caption Business Developments - Low Short-Term Interest Rates for additional information on management's expectations regarding Voluntary Yield-related Fee Waivers. (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, 2021 2020 2021 2020 Federated Hermes Kaufmann Fund and Federated Hermes Kaufmann Fund II 11 % 8 % 11 % 8 % Federated Hermes Global Emerging Markets strategy 10 % 5 % 9 % 6 % Federated Hermes Government Obligations Fund 3 % 14 % 5 % 13 % A significant and prolonged decline in the AUM in these funds 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 2% of Federated Hermes' total revenue for both the three- and six-month periods ended June 30, 2021, and 8% and 10% for the three- and six-month periods ended June 30, 2020, respectively, was derived from services provided to one intermediary, The Bank of New York Mellon Corporation, including its Pershing subsidiary. The decrease in 2021 was primarily due to an increase in Voluntary Yield-related Fee Waivers. Continued 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, 2021
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 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 for various Federated Hermes Funds for competitive reasons (such as to maintain certain fund ratios, yields or Voluntary Yield-related Fee Waivers), to meet regulatory requirements or to meet contractual requirements (collectively, Fee Waivers). 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. For the three and six months ended June 30, 2020, Fee Waivers totaled $184.9 million and $315.4 million, respectively, of which $141.6 million and $241.7 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 three months ended June 30, 2021 and no material contributions for the six months ended June 30, 2021. There were no contributions for the three and six months ended June 30, 2020. 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, 2021 and December 31, 2020. (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 Interest in Subsidiaries. (b) Consolidated Variable Interest Entities As of the periods ended June 30, 2021 and December 31, 2020, 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, 2021 December 31, 2020 Cash and Cash Equivalents $ 13.7 $ 0.2 Investments—Consolidated Investment Companies 23.0 12.1 Other Assets 0.2 0.1 Long term investments 11.2 0.0 Less: Liabilities 12.6 0.1 Less: Redeemable Noncontrolling Interest in Subsidiaries 13.3 0.0 Federated Hermes' Net Interest in VIEs $ 22.2 $ 12.3 Federated Hermes' net interest in the consolidated VIEs represents the value of Federated Hermes' economic ownership interest in that VIE. During the first quarter of 2021, as a result of the HCL Acquisition, Federated Hermes consolidated certain VIEs not previously consolidated. See Note (3) for additional information. During the second quarter of 2021, Federated Hermes consolidated a Federated Hermes Fund VIE in which it was the primary beneficiary. There was no material impact to the Consolidated Statements of Income as a result of these consolidations. There were no other consolidations or deconsolidations of VIEs during the six months ended June 30, 2021. (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, 2021 and December 31, 2020, Federated Hermes' variable interest in non-consolidated VIEs was $128.6 million and $106.0 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 $7.5 billion and $9.1 billion at June 30, 2021 and December 31, 2020, respectively. Of the Receivables—Affiliates at June 30, 2021 and December 31, 2020, $0.5 million and $0.4 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, 2021
Investments, Debt and Equity Securities [Abstract]
Investments	Investments At June 30, 2021 and December 31, 2020, Federated Hermes held investments in non-consolidated fluctuating-value Federated Hermes Funds of $61.0 million and $36.0 million, respectively, primarily in mutual funds which invest in equity securities. Federated Hermes held investments in Separate Accounts of $10.5 million and $9.6 million at June 30, 2021 and December 31, 2020, 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, 2021 and December 31, 2020, were primarily composed of domestic debt securities ($5.4 million and $5.2 million, respectively) and stocks of large U.S. and international companies ($3.6 million and $3.1 million, respectively). 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, 2021 and December 31, 2020 were primarily composed of domestic and foreign debt securities ($74.3 million and $48.6 million, respectively), stocks of large international and U.S. companies ($10.7 million and $35.2 million, respectively), stocks of small and mid-sized U.S. and international companies ($7.2 million and $6.4 million, respectively), and investments in investment companies ($6.7 million and $1.2 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) 2021 2020 2021 2020 Investments—Consolidated Investment Companies Net Unrealized Gains (Losses) $ 1,098 $ 9,889 $ (805) $ (464) Net Realized Gains (Losses) 1 341 (1,108) 1,602 (1,104) Net Gains (Losses) on Investments—Consolidated Investment Companies 1,439 8,781 797 (1,568) Investments—Affiliates and Other Net Unrealized Gains (Losses) 1,665 4,991 3,247 (406) Net Realized Gains (Losses) 1 3,141 56 3,580 (38) Net Gains (Losses) on Investments—Affiliates and Other 4,806 5,047 6,827 (444) Gain (Loss) on Securities, net $ 6,245 $ 13,828 $ 7,624 $ (2,012) 1 Realized gains and losses are computed on a specific-identification basis.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2021
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, 2021 Financial Assets Cash and Cash Equivalents $ 253,732 $ 0 $ 0 $ 253,732 Investments—Consolidated Investment Companies 23,148 75,777 0 98,925 Investments—Affiliates and Other 65,766 5,455 323 71,544 Other 1 7,272 2,456 0 9,728 Total Financial Assets $ 349,918 $ 83,688 $ 323 $ 433,929 Total Financial Liabilities 2 $ 43 $ 0 $ 11,774 $ 11,817 December 31, 2020 Financial Assets Cash and Cash Equivalents $ 301,819 $ 0 $ 0 $ 301,819 Investments—Consolidated Investment Companies 13,622 77,737 0 91,359 Investments—Affiliates and Other 40,010 5,247 336 45,593 Other 1 9,188 5,143 0 14,331 Total Financial Assets $ 364,639 $ 88,127 $ 336 $ 453,102 Total Financial Liabilities 2 $ 0 $ 89 $ 12,896 $ 12,985 1 Amounts primarily consist o f restricted cash, security deposits and derivative assets . 2 Amounts primarily consist of acquisition-related future contingent consideration liabilities. The following is a description of the valuation methodologies used for financial assets and liabilities measured at fair value on a recurring basis. Federated Hermes did not hold any nonfinancial assets or liabilities measured at fair value on a recurring basis at June 30, 2021 or December 31, 2020. Cash and Cash Equivalents Cash and Cash Equivalents include deposits with banks and investments in money market funds. Investments in money market funds totaled $207.1 million and $244.3 million at June 30, 2021 and December 31, 2020, 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 value 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 value of certain securities are determined by third-party pricing services which utilize observable market inputs of comparable investments (Level 2). Other Financial Assets Two consolidated Federated Hermes Funds were party to forward contracts subject to enforceable master netting arrangements as part of their investment strategy and were in an asset position of $30.4 million and a liability position of $30.1 million as of June 30, 2021. These forward contracts were recorded net in the amount of $0.3 million in Other Current Assets on Federated Hermes' Consolidated Balance Sheets at June 30, 2021. 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, 2021, acquisition-related future consideration liabilities of $11.8 million were primarily related to business combinations made in the first quarter of 2020 and were recorded in Other Current Liabilities ($7.2 million) and Other Long-Term Liabilities ($4.6 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, 2020 $ 12,896 Changes in Fair Value 1,130 Contingent Consideration Payments (2,252) Balance at June 30, 2021 $ 11,774 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 June 30, 2021 and December 31, 2020, these investments totaled $15.4 million and $6.9 million, respectively, 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, 2021. (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, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives Hermes Fund Managers Limited (HFML), a British Pound Sterling-denominated majority-owned 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, 2021, this subsidiary held foreign currency forward derivative instruments with a combined notional amount of £61.6 million and expiration dates ranging from September 2021 through March 2022. Federated Hermes recorded $2.0 million in Receivables on the Consolidated Balance Sheets, which represented the fair value of these derivative instruments as of June 30, 2021. As of December 31, 2020, HFML held foreign currency forward derivative instruments with a combined notional amount of £47.3 million and expiration dates ranging from March 2021 through September 2021. Federated Hermes recorded $5.1 million in Receivables on the Consolidated Balance Sheets, which represented the fair value of these derivative instruments as of December 31, 2020.

Intangible Assets, including Go

Intangible Assets, including Goodwill	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets, including Goodwill	Intangible Assets, including Goodwill Intangible Assets, net at June 30, 2021 decreased $2.2 million from December 31, 2020 primarily due to $6.9 million of amortization expense, partially offset by a $4.0 million increase in the value of intangible assets denominated in a foreign currency as a result of foreign exchange rate fluctuations. Goodwill at June 30, 2021 increased $1.7 million from December 31, 2020 primarily as a result of foreign exchange rate fluctuations on goodwill denominated in a foreign currency.

Debt

Debt	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt On June 5, 2017, Federated Hermes entered into an unsecured Third Amended and Restated Credit Agreement by and among Federated Hermes, certain of its subsidiaries as guarantors party thereto, a syndicate of ten banks as Lenders party thereto, PNC Bank, National Association as administrative agent, PNC Capital Markets LLC, as sole bookrunner and joint lead arranger, Citigroup Global Markets, Inc., as joint lead arranger, Citibank, N.A. as syndication agent, and TD Bank, N.A. as documentation agent (Credit Agreement). The Credit Agreement consists of a $375 million revolving credit facility with an additional $200 million available via an optional increase (or accordion) feature. The interest on the revolving credit facility is calculated at the monthly London Interbank Offering Rate (LIBOR) plus a spread. The borrowings under the revolving credit facility may include up to $25 million for which interest is calculated at the daily LIBOR plus a spread (Swing Line). On July 1, 2018, Federated Hermes entered into an amendment to the Credit Agreement to add certain definitions and to amend certain negative covenants relating to indebtedness, guarantees, and restrictions on dividends, related to the 2018 acquisition of a controlling interest in HFML (HFML Acquisition). This amendment contains other customary conditions, representations, warranties and covenants. The Credit Agreement, which expires on June 5, 2022, has no principal payment schedule, but instead requires that any outstanding principal be repaid by the expiration date. Federated Hermes, however, may elect to make discretionary principal payments. During the first six months of 2021, Federated Hermes repaid $10 million of the revolving credit facility. As of June 30, 2021 and December 31, 2020, the amounts outstanding under the revolving credit facility were $65 million and $75 million, respectively, and were recorded as Long-Term Debt on the Consolidated Balance Sheets. The interest rate was 1.224% and 1.277% as of June 30, 2021 and December 31, 2020, respectively, which was calculated at LIBOR plus a spread. The commitment fee under the Credit Agreement is 0.125% per annum on the daily unused portion of each Lender's commitment. As of June 30, 2021, Federated Hermes has $310 million available for borrowings under the revolving credit facility and an additional $200 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, 2021. See the Liquidity and Capital Resources section of Management's Discussion and Analysis of Financial Condition and Results of Operations for additional information. The Credit Agreement also has certain stated events of default and cross default provisions which would permit the lenders/counterparties to accelerate the repayment of debt outstanding if not cured within the applicable grace periods. The events of default generally include breaches of contract, failure to make required loan payments, insolvency, cessation of business, notice of lien or assessment, and other proceedings, whether voluntary or involuntary, that would require the repayment of amounts borrowed. The Credit Agreement also requires certain subsidiaries to enter into a Second Amended and Restated Continuing Agreement of Guaranty and Suretyship to guarantee payment of all obligations incurred through the Credit Agreement.

Share-Based Compensation Plans

Share-Based Compensation Plans	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Share-Based Compensation Plans	Share-Based Compensation Plans During the six months ended June 30, 2021, Federated Hermes awarded 717,924 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 receive 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 three years. During 2020, Federated Hermes awarded 1,134,581 shares of restricted Federated Hermes Class B common stock under its Stock Incentive Plan. Of this amount, 649,581 shares were awarded in connection with the aforementioned bonus program. The remaining shares were awarded to certain key employees and generally vest over ten years.

Equity

Equity	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Equity	Equity In April 2020, the board of directors authorized a share repurchase program with no stated expiration date that allows the buy back of up to 3.5 million shares of Class B common stock. This program was fulfilled in May 2021. In April 2021, the board of directors authorized a share repurchase program with no stated expiration date that allows the buy back of up to 4.0 million shares of Class B common stock. No other program existed as of June 30, 2021. The program authorizes executive management to determine the timing and the amount of shares for each purchase. The repurchased stock is to be held in treasury for employee share-based compensation plans, potential acquisitions and other corporate activities, unless Federated 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 first six months of 2021, Federated Hermes repurchased approximately 2.5 million shares of its Class B common stock for $76.8 million, nearly all of which were repurchased in the open market. At June 30, 2021, approximately 3.2 million shares remained available to be repurchased under this buyback program. The following table presents the activity for the Class B common stock and Treasury stock for the three and six months ended June 30, 2021 and 2020. 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, 2021 2020 2021 2020 Class B Shares Beginning Balance 98,539,367 101,065,709 99,331,443 101,130,379 Stock Award Activity 11,750 56,750 724,674 706,331 Purchase of Treasury Stock (993,100) (843,416) (2,498,100) (1,557,667) Ending Balance 97,558,017 100,279,043 97,558,017 100,279,043 Treasury Shares Beginning Balance 10,966,089 8,439,747 10,174,013 8,375,077 Stock Award Activity (11,750) (56,750) (724,674) (706,331) Purchase of Treasury Stock 993,100 843,416 2,498,100 1,557,667 Ending Balance 11,947,439 9,226,413 11,947,439 9,226,413 Redeemable Noncontrolling Interest in Subsidiaries The following table presents the changes in Redeemable Noncontrolling Interest in Subsidiaries: (in thousands) Consolidated Investment Companies HFML 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 Interest in Subsidiaries (1,320) (578) (1,898) Change in Estimated Redemption Value of Redeemable Noncontrolling Interests 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 Interest in Subsidiaries (622) (394) (1,016) Balance at June 30, 2021 $ 27,313 $ 224,156 $ 251,469 (in thousands) Consolidated Investment Companies HFML and other entities Total Balance at December 31, 2019 $ 19,872 $ 192,214 $ 212,086 Net Income (Loss) (2,802) 1,889 (913) Other Comprehensive Income (Loss), net of tax 0 (11,454) (11,454) Subscriptions—Redeemable Noncontrolling Interest Holders 5,577 0 5,577 Consolidation/(Deconsolidation) (4,019) 0 (4,019) Stock Award Activity 0 2,153 2,153 Distributions to Noncontrolling Interest in Subsidiaries (6,039) 0 (6,039) Change in Estimated Redemption Value of Redeemable Noncontrolling Interests 0 1,870 1,870 Balance at March 31, 2020 $ 12,589 $ 186,672 $ 199,261 Net Income (Loss) 2,560 1,045 3,605 Other Comprehensive Income (Loss), net of tax 0 (435) (435) Subscriptions—Redeemable Noncontrolling Interest Holders 6,225 0 6,225 Stock Award Activity 0 2,087 2,087 Distributions to Noncontrolling Interest in Subsidiaries (4,058) 0 (4,058) Change in Estimated Redemption Value of Redeemable Noncontrolling Interests 0 (2,013) (2,013) Balance at June 30, 2020 $ 17,316 $ 187,356 $ 204,672 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, 2021
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) 2021 2020 2021 2020 Numerator Net Income Attributable to Federated Hermes, Inc. $ 55,884 $ 81,196 $ 130,368 $ 145,374 Less: Total Net Income Available to Participating Unvested Restricted Shareholders 1 (2,356) (3,171) (5,378) (5,568) Total Net Income Attributable to Federated Hermes Common Stock - Basic $ 53,528 $ 78,025 $ 124,990 $ 139,806 Less: Total Net Income Available to Unvested Restricted Shareholders of a Nonpublic Consolidated Subsidiary (572) (307) (831) (395) Total Net Income Attributable to Federated Hermes Common Stock - Diluted $ 52,956 $ 77,718 $ 124,159 $ 139,411 Denominator Basic and Diluted Weighted-Average Federated Hermes Common Stock 2 93,964 96,800 94,588 97,073 Earnings Per Share Net Income Attributable to Federated Hermes Common Stock – Basic 2 $ 0.57 $ 0.81 $ 1.32 $ 1.44 Net Income Attributable to Federated Hermes Common Stock – Diluted 2 $ 0.56 $ 0.80 $ 1.31 $ 1.44 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

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
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) Contingencies Federated Hermes previously recorded as revenue certain carried interest, subject to clawback provisions, from certain funds (Carried Interest). As of June 30, 2021, approximately $11 million of Carried Interest is subject to clawback. As a result of the impact of the Pandemic on certain markets, management concluded it was reasonably possible that the market value of the assets held by these funds would be reduced at future valuation dates, which could result in a portion or all of this Carried Interest being repaid. As of June 30, 2021, management estimates that clawbacks will not occur based on the current valuation of the assets held by these funds. Future reductions in the valuation of the assets held by these funds may result in a material clawback of this Carried Interest. (c) 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, 2021, management does not believe that a material loss related to any of these matters is reasonably possible. (d) Legal Proceedings Like other companies, Federated Hermes has claims asserted and threatened against it in the ordinary course of business. As of June 30, 2021, Federated Hermes does not believe that a material loss related to these claims is reasonably possible.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss) Attributable to Federated Hermes, Inc. Shareholders	6 Months Ended
	Jun. 30, 2021
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, 2020 $ 15,171 Other Comprehensive Income (Loss) 5,053 Balance at June 30, 2021 $ 20,224 Balance at December 31, 2019 $ (249) Other Comprehensive Income (Loss) (25,572) Balance at June 30, 2020 $ (25,821)

Redeemable Noncontrolling Inter

Redeemable Noncontrolling Interest in Subsidiaries	6 Months Ended
	Jun. 30, 2021
Noncontrolling Interest [Abstract]
Redeemable Noncontrolling Interest in Subsidiaries	Equity In April 2020, the board of directors authorized a share repurchase program with no stated expiration date that allows the buy back of up to 3.5 million shares of Class B common stock. This program was fulfilled in May 2021. In April 2021, the board of directors authorized a share repurchase program with no stated expiration date that allows the buy back of up to 4.0 million shares of Class B common stock. No other program existed as of June 30, 2021. The program authorizes executive management to determine the timing and the amount of shares for each purchase. The repurchased stock is to be held in treasury for employee share-based compensation plans, potential acquisitions and other corporate activities, unless Federated 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 first six months of 2021, Federated Hermes repurchased approximately 2.5 million shares of its Class B common stock for $76.8 million, nearly all of which were repurchased in the open market. At June 30, 2021, approximately 3.2 million shares remained available to be repurchased under this buyback program. The following table presents the activity for the Class B common stock and Treasury stock for the three and six months ended June 30, 2021 and 2020. 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, 2021 2020 2021 2020 Class B Shares Beginning Balance 98,539,367 101,065,709 99,331,443 101,130,379 Stock Award Activity 11,750 56,750 724,674 706,331 Purchase of Treasury Stock (993,100) (843,416) (2,498,100) (1,557,667) Ending Balance 97,558,017 100,279,043 97,558,017 100,279,043 Treasury Shares Beginning Balance 10,966,089 8,439,747 10,174,013 8,375,077 Stock Award Activity (11,750) (56,750) (724,674) (706,331) Purchase of Treasury Stock 993,100 843,416 2,498,100 1,557,667 Ending Balance 11,947,439 9,226,413 11,947,439 9,226,413 Redeemable Noncontrolling Interest in Subsidiaries The following table presents the changes in Redeemable Noncontrolling Interest in Subsidiaries: (in thousands) Consolidated Investment Companies HFML 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 Interest in Subsidiaries (1,320) (578) (1,898) Change in Estimated Redemption Value of Redeemable Noncontrolling Interests 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 Interest in Subsidiaries (622) (394) (1,016) Balance at June 30, 2021 $ 27,313 $ 224,156 $ 251,469 (in thousands) Consolidated Investment Companies HFML and other entities Total Balance at December 31, 2019 $ 19,872 $ 192,214 $ 212,086 Net Income (Loss) (2,802) 1,889 (913) Other Comprehensive Income (Loss), net of tax 0 (11,454) (11,454) Subscriptions—Redeemable Noncontrolling Interest Holders 5,577 0 5,577 Consolidation/(Deconsolidation) (4,019) 0 (4,019) Stock Award Activity 0 2,153 2,153 Distributions to Noncontrolling Interest in Subsidiaries (6,039) 0 (6,039) Change in Estimated Redemption Value of Redeemable Noncontrolling Interests 0 1,870 1,870 Balance at March 31, 2020 $ 12,589 $ 186,672 $ 199,261 Net Income (Loss) 2,560 1,045 3,605 Other Comprehensive Income (Loss), net of tax 0 (435) (435) Subscriptions—Redeemable Noncontrolling Interest Holders 6,225 0 6,225 Stock Award Activity 0 2,087 2,087 Distributions to Noncontrolling Interest in Subsidiaries (4,058) 0 (4,058) Change in Estimated Redemption Value of Redeemable Noncontrolling Interests 0 (2,013) (2,013) Balance at June 30, 2020 $ 17,316 $ 187,356 $ 204,672 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.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesAs a result of legislation enacted in the United Kingdom (UK) that increases the UK corporate income tax rate from 19% to 25% effective April 1, 2023, Federated Hermes recorded $14.5 million in the second quarter 2021 to the Income Tax Provision as a result of the revaluation of the foreign deferred tax assets and liabilities associated with the change.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On July 29, 2021, the board of directors declared a $0.27 per share dividend to shareholders of record as of August 6, 2021 to be paid on August 13, 2021. 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 (Amended Credit Agreement). The Amended Credit Agreement amends and restates Federated Hermes' Credit Agreement, which was dated June 5, 2017 and scheduled to mature on June 5, 2022. The Amended Credit Agreement extends the maturity of the Credit Agreement to July 30, 2026, reduces the revolver limit from $375 million to $350 million and provides for an alternative reference interest rate index upon the upcoming discontinuation of LIBOR, along with certain other minor changes.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2021
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) 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 have been prepared in accordance with U.S. generally accepted accounting principles (GAAP). In the opinion of management, the financial statements reflect all adjustments that are of a normal recurring nature and necessary for a fair presentation of the results for the interim periods presented.
Use of Estimates	In preparing the financial statements, management is required to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying notes. Actual results may differ from those estimates, and such differences may be material to the Consolidated Financial Statements.
Consolidation of Variable Interest Entities	Federated Hermes has a controlling financial interest in a VIE and is, therefore, deemed to be the primary beneficiary of a VIE if it has (1) the power to direct the activities of a VIE that most significantly impact the VIE's economic performance and (2) the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. Financial information for certain entities, whose primary purpose is to collect and distribute carried interest paid by foreign private equity and infrastructure funds, is not available timely and is therefore consolidated on a one quarter lag, adjusted for any known material carried interest revenue and compensation transactions occurring through the balance sheet date.
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.

Business Combinations (Tables)

Business Combinations (Tables)	6 Months Ended
	Jun. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Schedule of Preliminary Purchase Price Allocation	The following table summarizes the final purchase price allocation determined as of the purchase date: (in millions) Cash and Cash Equivalents $ 32.7 Other Current Assets 1 11.8 Goodwill 2 19.1 Intangible Assets 3 27.6 Other Long-Term Assets 16.4 Less: Liabilities Acquired (44.1) Less: Fair Value of Redeemable Noncontrolling Interest in Subsidiary 4 (43.1) Total Purchase Price Consideration $ 20.4 1 Includes $5.0 million of accounts receivable. 2 The goodwill recognized is attributable to enhanced revenue and AUM growth opportunities from future investors and the assembled workforce of HGPE. In this instance, goodwill is not deductible for tax purposes. 3 Includes $20.3 million for rights to manage fund assets for private equity funds with a weighted-average useful life of 9.0 years and $6.9 million for rights to manage fund assets for infrastructure funds with a weighted-average useful life of 11.0 years, all of which are recorded in Intangible Assets, net on the Consolidated Balance Sheets.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2021
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) 2021 2020 2021 2020 Equity $ 171,595 $ 123,328 $ 337,953 $ 260,618 Fixed-income 57,716 43,691 114,493 90,297 Money market 49,286 157,430 129,978 308,850 Other 1 32,443 36,263 69,789 60,130 Total Revenue $ 311,040 $ 360,712 $ 652,213 $ 719,895 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) 2021 2020 2021 2020 Asset Management 1 $ 214,289 $ 245,126 $ 461,978 $ 485,787 Administrative Services 77,750 83,733 152,051 155,932 Distribution 2 12,191 25,579 25,219 64,513 Other 3 6,810 6,274 12,965 13,663 Total Revenue $ 311,040 $ 360,712 $ 652,213 $ 719,895 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) 2021 2020 2021 2020 Domestic $ 224,283 $ 292,784 $ 480,773 $ 589,147 Foreign 1 86,757 67,928 171,440 130,748 Total Revenue $ 311,040 $ 360,712 $ 652,213 $ 719,895 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) 2021 2020 2021 2020 Federated Hermes Funds $ 242,049 $ 299,125 $ 516,054 $ 596,009 Separate Accounts 65,182 58,100 129,037 115,522 Other 1 3,809 3,487 7,122 8,364 Total Revenue $ 311,040 $ 360,712 $ 652,213 $ 719,895 1 Primarily includes stewardship services revenue.
Schedule of Remaining Unsatisfied Performance Obligations	Based on existing contracts and the exchange rates as of June 30, 2021, Federated Hermes may recognize future fixed revenue from these services as presented in the following table: (in thousands) Remainder of 2021 $ 8,037 2022 5,528 2023 3,067 2024 and Thereafter 1,951 Total Remaining Unsatisfied Performance Obligations $ 18,583

Concentration Risk (Tables)

Concentration Risk (Tables)	6 Months Ended
	Jun. 30, 2021
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, 2021 2020 Equity Assets 52 % 36 % Money Market Assets 20 % 43 % Fixed-Income Assets 18 % 13 % The following table presents Federated Hermes' revenue concentration by investment fund strategy: Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Federated Hermes Kaufmann Fund and Federated Hermes Kaufmann Fund II 11 % 8 % 11 % 8 % Federated Hermes Global Emerging Markets strategy 10 % 5 % 9 % 6 % Federated Hermes Government Obligations Fund 3 % 14 % 5 % 13 %

Consolidation (Tables)

Consolidation (Tables)	6 Months Ended
	Jun. 30, 2021
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, 2021 December 31, 2020 Cash and Cash Equivalents $ 13.7 $ 0.2 Investments—Consolidated Investment Companies 23.0 12.1 Other Assets 0.2 0.1 Long term investments 11.2 0.0 Less: Liabilities 12.6 0.1 Less: Redeemable Noncontrolling Interest in Subsidiaries 13.3 0.0 Federated Hermes' Net Interest in VIEs $ 22.2 $ 12.3

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2021
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) 2021 2020 2021 2020 Investments—Consolidated Investment Companies Net Unrealized Gains (Losses) $ 1,098 $ 9,889 $ (805) $ (464) Net Realized Gains (Losses) 1 341 (1,108) 1,602 (1,104) Net Gains (Losses) on Investments—Consolidated Investment Companies 1,439 8,781 797 (1,568) Investments—Affiliates and Other Net Unrealized Gains (Losses) 1,665 4,991 3,247 (406) Net Realized Gains (Losses) 1 3,141 56 3,580 (38) Net Gains (Losses) on Investments—Affiliates and Other 4,806 5,047 6,827 (444) Gain (Loss) on Securities, net $ 6,245 $ 13,828 $ 7,624 $ (2,012) 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, 2021
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, 2021 Financial Assets Cash and Cash Equivalents $ 253,732 $ 0 $ 0 $ 253,732 Investments—Consolidated Investment Companies 23,148 75,777 0 98,925 Investments—Affiliates and Other 65,766 5,455 323 71,544 Other 1 7,272 2,456 0 9,728 Total Financial Assets $ 349,918 $ 83,688 $ 323 $ 433,929 Total Financial Liabilities 2 $ 43 $ 0 $ 11,774 $ 11,817 December 31, 2020 Financial Assets Cash and Cash Equivalents $ 301,819 $ 0 $ 0 $ 301,819 Investments—Consolidated Investment Companies 13,622 77,737 0 91,359 Investments—Affiliates and Other 40,010 5,247 336 45,593 Other 1 9,188 5,143 0 14,331 Total Financial Assets $ 364,639 $ 88,127 $ 336 $ 453,102 Total Financial Liabilities 2 $ 0 $ 89 $ 12,896 $ 12,985 1 Amounts primarily consist o f restricted cash, security deposits and derivative assets .
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, 2020 $ 12,896 Changes in Fair Value 1,130 Contingent Consideration Payments (2,252) Balance at June 30, 2021 $ 11,774

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2021
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, 2021 and 2020. 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, 2021 2020 2021 2020 Class B Shares Beginning Balance 98,539,367 101,065,709 99,331,443 101,130,379 Stock Award Activity 11,750 56,750 724,674 706,331 Purchase of Treasury Stock (993,100) (843,416) (2,498,100) (1,557,667) Ending Balance 97,558,017 100,279,043 97,558,017 100,279,043 Treasury Shares Beginning Balance 10,966,089 8,439,747 10,174,013 8,375,077 Stock Award Activity (11,750) (56,750) (724,674) (706,331) Purchase of Treasury Stock 993,100 843,416 2,498,100 1,557,667 Ending Balance 11,947,439 9,226,413 11,947,439 9,226,413

Earnings Per Share Attributab_2

Earnings Per Share Attributable to Federated Hermes, Inc. Shareholders (Tables)	6 Months Ended
	Jun. 30, 2021
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) 2021 2020 2021 2020 Numerator Net Income Attributable to Federated Hermes, Inc. $ 55,884 $ 81,196 $ 130,368 $ 145,374 Less: Total Net Income Available to Participating Unvested Restricted Shareholders 1 (2,356) (3,171) (5,378) (5,568) Total Net Income Attributable to Federated Hermes Common Stock - Basic $ 53,528 $ 78,025 $ 124,990 $ 139,806 Less: Total Net Income Available to Unvested Restricted Shareholders of a Nonpublic Consolidated Subsidiary (572) (307) (831) (395) Total Net Income Attributable to Federated Hermes Common Stock - Diluted $ 52,956 $ 77,718 $ 124,159 $ 139,411 Denominator Basic and Diluted Weighted-Average Federated Hermes Common Stock 2 93,964 96,800 94,588 97,073 Earnings Per Share Net Income Attributable to Federated Hermes Common Stock – Basic 2 $ 0.57 $ 0.81 $ 1.32 $ 1.44 Net Income Attributable to Federated Hermes Common Stock – Diluted 2 $ 0.56 $ 0.80 $ 1.31 $ 1.44 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, 2021
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, 2020 $ 15,171 Other Comprehensive Income (Loss) 5,053 Balance at June 30, 2021 $ 20,224 Balance at December 31, 2019 $ (249) Other Comprehensive Income (Loss) (25,572) Balance at June 30, 2020 $ (25,821)

Redeemable Noncontrolling Int_2

Redeemable Noncontrolling Interest in Subsidiaries (Tables)	6 Months Ended
	Jun. 30, 2021
Noncontrolling Interest [Abstract]
Schedule of Changes in Redeemable Noncontrolling Interest in Subsidiaries	The following table presents the changes in Redeemable Noncontrolling Interest in Subsidiaries: (in thousands) Consolidated Investment Companies HFML 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 Interest in Subsidiaries (1,320) (578) (1,898) Change in Estimated Redemption Value of Redeemable Noncontrolling Interests 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 Interest in Subsidiaries (622) (394) (1,016) Balance at June 30, 2021 $ 27,313 $ 224,156 $ 251,469 (in thousands) Consolidated Investment Companies HFML and other entities Total Balance at December 31, 2019 $ 19,872 $ 192,214 $ 212,086 Net Income (Loss) (2,802) 1,889 (913) Other Comprehensive Income (Loss), net of tax 0 (11,454) (11,454) Subscriptions—Redeemable Noncontrolling Interest Holders 5,577 0 5,577 Consolidation/(Deconsolidation) (4,019) 0 (4,019) Stock Award Activity 0 2,153 2,153 Distributions to Noncontrolling Interest in Subsidiaries (6,039) 0 (6,039) Change in Estimated Redemption Value of Redeemable Noncontrolling Interests 0 1,870 1,870 Balance at March 31, 2020 $ 12,589 $ 186,672 $ 199,261 Net Income (Loss) 2,560 1,045 3,605 Other Comprehensive Income (Loss), net of tax 0 (435) (435) Subscriptions—Redeemable Noncontrolling Interest Holders 6,225 0 6,225 Stock Award Activity 0 2,087 2,087 Distributions to Noncontrolling Interest in Subsidiaries (4,058) 0 (4,058) Change in Estimated Redemption Value of Redeemable Noncontrolling Interests 0 (2,013) (2,013) Balance at June 30, 2020 $ 17,316 $ 187,356 $ 204,672

Business Combinations - Narrati

Business Combinations - Narrative (Details) £ in Millions, $ in Millions	Mar. 01, 2020GBP (£)	Mar. 01, 2020USD ($)	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)	Mar. 01, 2020USD ($)
HCL
Business Acquisition [Line Items]
Ownership interest acquired	100.00%				100.00%
Acquisition price	£ 15.9	$ 20.4
Payments to acquire business	11.2	14.3
Maximum contingent purchase price payments	£ 3.5				$ 4.5
Business combination, provisional information adjustments, assets			$ 25.8
Business combination, provisional information adjustments, liabilities			17.2
Business combination, provisional information adjustments, equity interests			8.6
Revenue			6.9
Compensation and related expense			$ 6.9
HGPE
Business Acquisition [Line Items]
Acquisition-date fair value of previous equity interest		$ 34.5
Gain as a result of remeasuring prior equity interest				$ 7.5

Business Combinations - Summary

Business Combinations - Summary of Preliminary Purchase Price Allocation (Details) - USD ($) $ in Thousands	Mar. 01, 2020	Jun. 30, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill		$ 801,941	$ 800,267
HCL
Business Acquisition [Line Items]
Cash and Cash Equivalents	$ 32,700
Other Current Assets	11,800
Goodwill	19,100
Intangible Assets	27,600
Other Long-Term Assets	16,400
Less: Liabilities Acquired	(44,100)
Less: Fair Value of Redeemable Noncontrolling Interest in Subsidiary	(43,100)
Total Purchase Price Consideration	20,400
Accounts receivable	5,000
HCL | Customer Relationships
Business Acquisition [Line Items]
Intangible assets recorded in connection with acquisition	$ 20,300
Weighted-average useful life	9 years
HCL | Rights to Manage Fund Assets
Business Acquisition [Line Items]
Intangible assets recorded in connection with acquisition	$ 6,900
Weighted-average useful life	11 years

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, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Total Revenue	$ 311,040	$ 360,712	$ 652,213	$ 719,895
Equity
Disaggregation of Revenue [Line Items]
Total Revenue	171,595	123,328	337,953	260,618
Fixed-income
Disaggregation of Revenue [Line Items]
Total Revenue	57,716	43,691	114,493	90,297
Money market
Disaggregation of Revenue [Line Items]
Total Revenue	49,286	157,430	129,978	308,850
Other
Disaggregation of Revenue [Line Items]
Total Revenue	$ 32,443	$ 36,263	$ 69,789	$ 60,130

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, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Total Revenue	$ 311,040	$ 360,712	$ 652,213	$ 719,895
Asset Management
Disaggregation of Revenue [Line Items]
Total Revenue	214,289	245,126	461,978	485,787
Administrative Services
Disaggregation of Revenue [Line Items]
Total Revenue	77,750	83,733	152,051	155,932
Distribution
Disaggregation of Revenue [Line Items]
Total Revenue	12,191	25,579	25,219	64,513
Other
Disaggregation of Revenue [Line Items]
Total Revenue	$ 6,810	$ 6,274	$ 12,965	$ 13,663

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, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Total Revenue	$ 311,040	$ 360,712	$ 652,213	$ 719,895
Domestic
Disaggregation of Revenue [Line Items]
Total Revenue	224,283	292,784	480,773	589,147
Foreign
Disaggregation of Revenue [Line Items]
Total Revenue	$ 86,757	$ 67,928	$ 171,440	$ 130,748

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, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Total Revenue	$ 311,040	$ 360,712	$ 652,213	$ 719,895
Federated Hermes Funds
Disaggregation of Revenue [Line Items]
Total Revenue	242,049	299,125	516,054	596,009
Separate Accounts
Disaggregation of Revenue [Line Items]
Total Revenue	65,182	58,100	129,037	115,522
Other
Disaggregation of Revenue [Line Items]
Total Revenue	$ 3,809	$ 3,487	$ 7,122	$ 8,364

Revenue from Contracts with C_7

Revenue from Contracts with Customers - Narrative (Details)	6 Months Ended
	Jun. 30, 2021
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, 2021USD ($)
Revenue from Contract with Customer [Abstract]
Total Remaining Unsatisfied Performance Obligations	$ 18,583
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Revenue from Contract with Customer [Abstract]
Total Remaining Unsatisfied Performance Obligations	$ 8,037
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]: 2022-01-01
Revenue from Contract with Customer [Abstract]
Total Remaining Unsatisfied Performance Obligations	$ 5,528
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]: 2023-01-01
Revenue from Contract with Customer [Abstract]
Total Remaining Unsatisfied Performance Obligations	$ 3,067
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	$ 1,951
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, 2021	Jun. 30, 2020
Equity Assets
Concentration Risk [Line Items]
Concentration risk	52.00%	36.00%
Money Market Assets
Concentration Risk [Line Items]
Concentration risk	20.00%	43.00%
Fixed-Income Assets
Concentration Risk [Line Items]
Concentration risk	18.00%	13.00%

Concentration Risk - Narrative

Concentration Risk - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Concentration Risk [Line Items]
Voluntary yield-related fee waivers	$ 117.8	$ 19.7	$ 200.9	$ 20.1
Decrease in distribution expenses	71	17.7	132.5	18
Net negative pre-tax impact	$ 46.8	$ 2	$ 68.4	$ 2.1
Customer Concentration Risk | Revenue benchmark | Bank of New York Mellon Corporation
Concentration Risk [Line Items]
Concentration risk	2.00%	8.00%	2.00%	10.00%

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, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Federated Hermes Kaufmann Fund And Federated Hermes Kaufmann Fund II
Concentration Risk [Line Items]
Concentration risk	11.00%	8.00%	11.00%	8.00%
Federated Hermes Global Emerging Markets strategy
Concentration Risk [Line Items]
Concentration risk	10.00%	5.00%	9.00%	6.00%
Federated Hermes Government Obligations Fund
Concentration Risk [Line Items]
Concentration risk	3.00%	14.00%	5.00%	13.00%

Consolidation - Narrative (Deta

Consolidation - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Variable Interest Entities [Line Items]
Fee waivers	$ 245,000,000	$ 184,900,000	$ 446,100,000	$ 315,400,000
Variable Interest Entity Not Primary Beneficiary
Variable Interest Entities [Line Items]
AUM for nonconsolidated Federated Hermes Funds	7,500,000,000		7,500,000,000		$ 9,100,000,000
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	128,600,000		128,600,000		106,000,000
Receivables - Affiliates | Variable Interest Entity Not Primary Beneficiary
Variable Interest Entities [Line Items]
Federated Hermes' maximum risk of loss in non-consolidated investment companies	500,000		500,000		$ 400,000
Financial Support, Fee Waivers
Variable Interest Entities [Line Items]
Money market funds which meet the scope exception of the consolidation guidance	208,200,000	141,600,000	376,300,000	241,700,000
Financial Support, Capital Contributions
Variable Interest Entities [Line Items]
Money market funds which meet the scope exception of the consolidation guidance	$ 0	$ 0	$ 0	$ 0

Consolidation - Consolidated Fe

Consolidation - Consolidated Federated Fund VIEs (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Variable Interest Entities [Line Items]
Consolidated VIE assets	$ 2,044,948	$ 2,060,839
Less: Liabilities	631,549	686,855
Variable Interest Entity, Primary Beneficiary
Variable Interest Entities [Line Items]
Less: Liabilities	12,600	100
Less: Redeemable Noncontrolling Interest in Subsidiaries	13,300	0
Federated Hermes' Net Interest in VIEs	22,200	12,300
Cash and Cash Equivalents | Variable Interest Entity, Primary Beneficiary
Variable Interest Entities [Line Items]
Consolidated VIE assets	13,700	200
Investments—Consolidated Investment Companies | Variable Interest Entity, Primary Beneficiary
Variable Interest Entities [Line Items]
Consolidated VIE assets	23,000	12,100
Other Assets | Variable Interest Entity, Primary Beneficiary
Variable Interest Entities [Line Items]
Consolidated VIE assets	200	100
Long term investments | Variable Interest Entity, Primary Beneficiary
Variable Interest Entities [Line Items]
Consolidated VIE assets	$ 11,200	$ 0

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Schedule of Investments [Line Items]
Investments in affiliates and other	$ 71,544	$ 45,593
Investments - consolidated investment companies	98,925	91,359
Debt Securities
Schedule of Investments [Line Items]
Investments - consolidated investment companies	74,300	48,600
Stocks of Large Companies
Schedule of Investments [Line Items]
Investments - consolidated investment companies	10,700	35,200
Stocks of Small and Mid Sized Companies
Schedule of Investments [Line Items]
Investments - consolidated investment companies	7,200	6,400
Investment Companies
Schedule of Investments [Line Items]
Investments - consolidated investment companies	6,700	1,200
Federated Hermes Funds
Schedule of Investments [Line Items]
Investments in affiliates and other	61,000	36,000
Separate Accounts
Schedule of Investments [Line Items]
Investments in affiliates and other	10,500	9,600
Separate Accounts | Debt Securities
Schedule of Investments [Line Items]
Investments in affiliates and other	5,400	5,200
Separate Accounts | Stocks of Large Companies
Schedule of Investments [Line Items]
Investments in affiliates and other	$ 3,600	$ 3,100

Investments - Gains and Losses

Investments - Gains and Losses Recognized in Gain (Loss) on Securities, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
(Loss) Gain on Securities [Line Items]
Gain (Loss) on Securities, net	$ 6,245	$ 13,828	$ 7,624	$ (2,012)
Investments—Consolidated Investment Companies
(Loss) Gain on Securities [Line Items]
Net Unrealized Gains (Losses)	1,098	9,889	(805)	(464)
Net Realized Gains (Losses)	341	(1,108)	1,602	(1,104)
Gain (Loss) on Securities, net	1,439	8,781	797	(1,568)
Investments—Affiliates and Other
(Loss) Gain on Securities [Line Items]
Net Unrealized Gains (Losses)	1,665	4,991	3,247	(406)
Net Realized Gains (Losses)	3,141	56	3,580	(38)
Gain (Loss) on Securities, net	$ 4,806	$ 5,047	$ 6,827	$ (444)

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, 2021	Dec. 31, 2020
Financial Assets
Investments—Consolidated Investment Companies	$ 98,925	$ 91,359
Investments—Affiliates and Other	71,544	45,593
Fair Value, Measurements, Recurring
Financial Assets
Cash and Cash Equivalents	253,732	301,819
Investments—Consolidated Investment Companies	98,925	91,359
Investments—Affiliates and Other	71,544	45,593
Other	9,728	14,331
Total Financial Assets	433,929	453,102
Financial Liabilities
Total Financial Liabilities	11,817	12,985
Fair Value, Measurements, Recurring | Level 1
Financial Assets
Cash and Cash Equivalents	253,732	301,819
Investments—Consolidated Investment Companies	23,148	13,622
Investments—Affiliates and Other	65,766	40,010
Other	7,272	9,188
Total Financial Assets	349,918	364,639
Financial Liabilities
Total Financial Liabilities	43	0
Fair Value, Measurements, Recurring | Level 2
Financial Assets
Cash and Cash Equivalents	0	0
Investments—Consolidated Investment Companies	75,777	77,737
Investments—Affiliates and Other	5,455	5,247
Other	2,456	5,143
Total Financial Assets	83,688	88,127
Financial Liabilities
Total Financial Liabilities	0	89
Fair Value, Measurements, Recurring | Level 3
Financial Assets
Cash and Cash Equivalents	0	0
Investments—Consolidated Investment Companies	0	0
Investments—Affiliates and Other	323	336
Other	0	0
Total Financial Assets	323	336
Financial Liabilities
Total Financial Liabilities	$ 11,774	$ 12,896

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Acquisition-related future consideration liabilities	$ 11.8
Acquisition-related future consideration liabilities recorded in other current liabilities	7.2
Acquisition-related future consideration liabilities recorded in other long-term liabilities	4.6
Investments—Consolidated Investment Companies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets net	0.3
Forward Contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	30.4
Derivative liability	30.1
Money market
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	207.1	$ 244.3
Mutual Fund | NAV
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other financial assets	$ 15.4	$ 6.9

Fair Value Measurements - Recon

Fair Value Measurements - Reconciliation of Liability for Future Consideration Payments (Details) - Contingent Consideration $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at December 31, 2020	$ 12,896
Changes in Fair Value	1,130
Contingent Consideration Payments	(2,252)
Balance at June 30, 2021	$ 11,774

Derivatives (Details)

Derivatives (Details) - Foreign Currency Forward £ in Millions, $ in Millions	Jun. 30, 2021USD ($)	Jun. 30, 2021GBP (£)	Dec. 31, 2020USD ($)	Dec. 31, 2020GBP (£)
Derivative [Line Items]
Derivative asset, notional amount | £		£ 61.6		£ 47.3
Receivables
Derivative [Line Items]
Derivative asset | $	$ 2		$ 5.1

Intangible Assets, including _2

Intangible Assets, including Goodwill (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Decrease in intangible assets, net	$ (2.2)
Amortization expense for finite-lived intangible assets	6.9
Increase in value of intangible assets denominated in a foreign currency as a result of foreign exchange rate fluctuations	4
Goodwill, period increase (decrease)	$ 1.7

Debt (Details)

Debt (Details)	6 Months Ended
	Jun. 30, 2021USD ($)	Dec. 31, 2020USD ($)	Jun. 05, 2017USD ($)bank
Debt Instrument [Line Items]
Number of banks as lenders | bank			10
Line of credit facility, maximum borrowing capacity			$ 375,000,000
Optional increase (or an accordion feature)	$ 200,000,000		200,000,000
Amount repaid on line of credit	10,000,000
Amounts outstanding under the revolving credit facility	$ 65,000,000	$ 75,000,000
Interest rate at period end	1.224%	1.277%
Commitment fee	0.125%
Available for borrowings	$ 310,000,000
Swing Line
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 25,000,000

Share-Based Compensation Plans

Share-Based Compensation Plans (Details) - shares	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awarded in period (in shares)	717,924	1,134,581
Class B Common Stock Bonus
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awarded in period (in shares)		649,581
Restricted stock requisite service period	3 years
Class B Common Stock Key Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock requisite service period		10 years

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Apr. 30, 2021	Apr. 30, 2020
Equity, Class of Treasury Stock [Line Items]
Purchase of treasury stock (in shares)	993,100		843,416		2,498,100	1,557,667
Purchase of treasury stock	$ 31,797	$ 45,030	$ 18,126	$ 15,959	$ 76,800
Class B Shares
Equity, Class of Treasury Stock [Line Items]
Number of shares authorized under share repurchase program (in shares)							4,000,000	3,500,000
Purchase of treasury stock (in shares)					2,500,000
Remaining number of shares authorized to be repurchased (in shares)	3,200,000				3,200,000

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, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance (in shares)	10,966,089	8,439,747	10,174,013	8,375,077
Stock Award Activity (in shares)	(11,750)	(56,750)	(724,674)	(706,331)
Purchase of Treasury Stock (in shares)	993,100	843,416	2,498,100	1,557,667
Ending Balance (in shares)	11,947,439	9,226,413	11,947,439	9,226,413
Class B Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance (in shares)	98,539,367	101,065,709	99,331,443	101,130,379
Stock Award Activity (in shares)	11,750	56,750	724,674	706,331
Purchase of Treasury Stock (in shares)	(993,100)	(843,416)	(2,498,100)	(1,557,667)
Ending Balance (in shares)	97,558,017	100,279,043	97,558,017	100,279,043
Purchase of Treasury Stock (in shares)			2,500,000

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, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Numerator
Net Income Attributable to Federated Hermes, Inc.	$ 55,884	$ 81,196	$ 130,368	$ 145,374
Less: Total Net Income Available to Participating Unvested Restricted Shareholders	(2,356)	(3,171)	(5,378)	(5,568)
Total Net Income Attributable to Federated Hermes Common Stock - Basic	53,528	78,025	124,990	139,806
Less: Total Net Income Available to Unvested Restricted Shareholders of a Nonpublic Consolidated Subsidiary	(572)	(307)	(831)	(395)
Total Net Income Attributable to Federated Hermes Common Stock - Diluted	$ 52,956	$ 77,718	$ 124,159	$ 139,411
Denominator
Basic Weighted-Average Federated Hermes Common Stock (in shares)	93,964	96,800	94,588	97,073
Diluted Weighted-Average Federated Hermes Common Stock (in shares)	93,964	96,800	94,588	97,073
Earnings Per Share
Net Income Attributable to Federated Hermes Common Stock – Basic (usd per share)	$ 0.57	$ 0.81	$ 1.32	$ 1.44
Net Income Attributable to Federated Hermes Common Share—Diluted (usd per share)	$ 0.56	$ 0.80	$ 1.31	$ 1.44

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Jun. 30, 2021USD ($)
Commitments and Contingencies Disclosure [Abstract]
Carried interest subject to clawback provisions	$ 11

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) Attributable to Federated Hermes, Inc. Shareholders (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Accumulated Other Comprehensive Income (Loss), net of tax [Rollforward]
Balance, beginning of period	$ 1,136,997	$ 1,041,280
Balance, end of period	1,161,930	1,086,667
Foreign Currency Translation Gain (Loss)
Accumulated Other Comprehensive Income (Loss), net of tax [Rollforward]
Balance, beginning of period	15,171	(249)
Other Comprehensive Income (Loss)	5,053	(25,572)
Balance, end of period	$ 20,224	$ (25,821)

Redeemable Noncontrolling Int_3

Redeemable Noncontrolling Interest in Subsidiaries (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020
Increase (Decrease) in Temporary Equity [Roll Forward]
Temporary equity, beginning balance	$ 245,717	$ 236,987	$ 199,261	$ 212,086
Net Income (Loss)	(2,405)	(138)	3,605	(913)
Other Comprehensive Income (Loss), net of tax	868	1,430	(435)	(11,454)
Subscriptions—Redeemable Noncontrolling Interest Holders	899,962	25,762	6,225	5,577
Consolidation/(Deconsolidation)	(894,175)	(16,237)		(4,019)
Stock Award Activity	2,518	2,481	2,087	2,153
Distributions to Noncontrolling Interest in Subsidiaries	(1,016)	(1,898)	(4,058)	(6,039)
Change in Estimated Redemption Value of Redeemable Noncontrolling Interests		(2,670)	(2,013)	1,870
Temporary equity, ending balance	251,469	245,717	204,672	199,261
Consolidated Investment Companies
Increase (Decrease) in Temporary Equity [Roll Forward]
Temporary equity, beginning balance	22,178	24,246	12,589	19,872
Net Income (Loss)	682	(1,091)	2,560	(2,802)
Subscriptions—Redeemable Noncontrolling Interest Holders	899,250	25,762	6,225	5,577
Consolidation/(Deconsolidation)	(894,175)	(25,419)		(4,019)
Distributions to Noncontrolling Interest in Subsidiaries	(622)	(1,320)	(4,058)	(6,039)
Temporary equity, ending balance	27,313	22,178	17,316	12,589
HFML and other entities
Increase (Decrease) in Temporary Equity [Roll Forward]
Temporary equity, beginning balance	223,539	212,741	186,672	192,214
Net Income (Loss)	(3,087)	953	1,045	1,889
Other Comprehensive Income (Loss), net of tax	868	1,430	(435)	(11,454)
Subscriptions—Redeemable Noncontrolling Interest Holders	712
Consolidation/(Deconsolidation)		9,182
Stock Award Activity	2,518	2,481	2,087	2,153
Distributions to Noncontrolling Interest in Subsidiaries	(394)	(578)
Change in Estimated Redemption Value of Redeemable Noncontrolling Interests		(2,670)	(2,013)	1,870
Temporary equity, ending balance	$ 224,156	$ 223,539	$ 187,356	$ 186,672

Redeemable Noncontrolling Int_4

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

Income Taxes (Details)

Income Taxes (Details) $ in Millions	3 Months Ended
	Jun. 30, 2021USD ($)
Foreign Tax Authority
Income Tax Contingency [Line Items]
Tax provision as a result of revaluation of foreign deferred tax liability associated with the change in the UK tax rate	$ 14.5

Subsequent Events (Details)

Subsequent Events (Details)	Jul. 30, 2021USD ($)bank	Jul. 29, 2021$ / shares	Jun. 05, 2017USD ($)bank
Subsequent Event [Line Items]
Number of banks as lenders | bank			10
Line of credit facility, maximum borrowing capacity | $			$ 375,000,000
Subsequent Event
Subsequent Event [Line Items]
Dividends declared (usd per share) | $ / shares		$ 0.27
Number of banks as lenders | bank	11
Line of credit facility, maximum borrowing capacity | $	$ 350,000,000