Commitments and Contingencies

(a) Contractual

Federated is obligated to make certain future payments under various agreements to which it is a party, including debt and operating leases (see Note (12) and Note (18), respectively). The following table summarizes minimum noncancelable payments contractually due under Federated's significant service contracts:



	Payments due in
											After
(in millions)	2019		2020		2021		2022		2023		2023		Total
Purchase Obligations¹	$	26.9	$	6.7	$	1.1	$	0.0	$	0.0	$	0.0	$	34.7
Other Obligations	2.1		0.7		0.0		0.0		0.0		0.0		2.8
Total	$	29.0	$	7.4	$	1.1	$	0.0	$	0.0	$	0.0	$	37.5

Federated is a party to various contracts pursuant to which it receives certain services, including services for marketing and information technology, access to various fund-related information systems and research databases, trade order transmission and recovery services as well as other services. These contracts contain certain minimum noncancelable payments, cancellation provisions and renewal terms. The contracts require payments through the year 2021. Costs for such services are expensed as incurred.

(b) Guarantees and Indemnifications

On an intercompany basis, various wholly owned subsidiaries of Federated guarantee certain financial obligations of Federated Investors, Inc., and Federated Investors, Inc. guarantees certain financial and performance-related obligations of various wholly owned subsidiaries. In addition, in the normal course of business, Federated has entered into contracts that provide a variety of indemnifications. Typically, obligations to indemnify third parties arise in the context of contracts entered into by Federated, under which Federated agrees to hold the other party harmless against losses arising out of the contract, provided the other party's actions are not deemed to have breached an agreed upon standard of care. In each of these circumstances, payment by Federated is contingent on the other party making a claim for indemnity, subject to Federated's right to challenge the other party's claim. Further, Federated's obligations under these agreements may be limited in terms of time and/or amount. It is not possible to predict the maximum potential amount of future payments under these or similar agreements due to the conditional nature of Federated's obligations and the unique facts and circumstances involved in each particular agreement. As of December 31, 2018, management does not believe that a material loss related to any of these matters is reasonably possible.

Like other companies, Federated has claims asserted and threatened against it in the ordinary course of business. As of December 31, 2018, Federated does not believe that a material loss related to these claims is reasonably possible.