Below are the financial statements of Federated Hermes, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
| All figures in millions of USD | 2024 | 2023 | 2022 |
|---|---|---|---|
| Revenue | — | — | — |
| Investment advisory fees, net - affiliates | 857.44b | 870.83b | 772.99b |
| Investment advisory fees, net - other | 240.42b | 244.95b | 238.64b |
| Administrative service fees, net - affiliates | 387.53b | 343.33b | 294.56b |
| Other service fees, net - affiliates | 128.73b | 134.43b | 121.38b |
| Other service fees, net - other | 17.97b | 16.03b | 18.24b |
| Total revenue | 1,632.09b | 1,609.57b | 1,445.81b |
| Operating expenses | — | — | — |
| Compensation and related | -540.49b | -563.39b | -512.71b |
| Distribution | -382.33b | -371.2b | -314.55b |
| Systems and communications | -92.52b | -84.2b | -77.78b |
| Professional service fees | -78.35b | -69.51b | -57.75b |
| Office and occupancy | -39.95b | -45.07b | -43.36b |
| Advertising and promotional | -24.09b | -22.99b | -20.93b |
| Travel and related | -15.4b | -15.41b | -12.46b |
| Intangible asset related | -79.36b | -13.87b | -44.07b |
| Other | -18.15b | -36.38b | -25.41b |
| Total operating expenses | -1,270.63b | -1,222.03b | -1,109.02b |
| Operating income | 361.47b | 387.55b | 336.8b |
| Nonoperating income (expenses) | — | — | — |
| Investment income, net | 26.07b | 22.56b | 8.97b |
| Gain (loss) on securities, net | 6.6b | 13.18b | -28.7b |
| Debt expense | -12.67b | -12.52b | -11.07b |
| Other, net | 0.14b | 0.56b | 0.22b |
| Total nonoperating income (expenses), net | 20.14b | 23.78b | -30.57b |
| Income before income taxes | 381.61b | 411.33b | 306.22b |
| Income tax provision | -113.18b | -106.55b | -71.66b |
| Net income including the noncontrolling interests in subsidiaries | 268.43b | 304.78b | 234.56b |
| Net income (loss) attributable to the noncontrolling interests in subsidiaries | 0.12b | 5.8b | -4.93b |
| Net income | 268.31b | 298.98b | 239.5b |
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