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Revenue from Contracts with Customers (Tables)
9 Months Ended
Sep. 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 EndedNine Months Ended
September 30,September 30,
(in thousands)2021202020212020
Equity$172,349 $138,590 $510,302 $399,208 
Fixed-income60,622 49,407 175,115 139,705 
Money market55,726 143,391 185,704 452,240 
Other1
37,892 33,067 107,681 93,197 
Total Revenue$326,589 $364,455 $978,802 $1,084,350 
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 EndedNine Months Ended
September 30,September 30,
(in thousands)2021202020212020
Asset Management1
$230,210 $260,089 $692,188 $745,875 
Administrative Services76,853 83,028 228,904 238,960 
Distribution2
12,460 15,273 37,679 79,786 
Other3
7,066 6,065 20,031 19,729 
Total Revenue$326,589 $364,455 $978,802 $1,084,350 
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 EndedNine Months Ended
September 30,September 30,
(in thousands)2021202020212020
Domestic$237,543 $295,422 $718,316 $884,569 
Foreign1
89,046 69,033 260,486 199,781 
Total Revenue$326,589 $364,455 $978,802 $1,084,350 
1    This represents revenue earned by non-U.S. domiciled subsidiaries.
The following table presents Federated Hermes' revenue disaggregated by product type:
Three Months EndedNine Months Ended
September 30,September 30,
(in thousands)2021202020212020
Federated Hermes Funds$256,036 $303,958 $772,090 $899,967 
Separate Accounts66,404 57,111 195,441 172,633 
Other1
4,149 3,386 11,271 11,750 
Total Revenue$326,589 $364,455 $978,802 $1,084,350 
1    Primarily includes stewardship services revenue.
Schedule of Remaining Unsatisfied Performance Obligations Based on existing contracts and the exchange rates as of September 30, 2021, Federated Hermes may recognize future fixed revenue from these services as presented in the following table:
(in thousands)
Remainder of 2021$4,418 
20229,057 
20234,486 
2024 and Thereafter2,687 
Total Remaining Unsatisfied Performance Obligations$20,648