Earnings Per Share Attributable to Federated Hermes, Inc. Shareholders

12 Months Ended

Dec. 31, 2023

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 for the years ended December 31:


(in thousands, except per share data)	2023		2022		2021
Numerator
Net Income Attributable to Federated Hermes, Inc.	$	298,980	$	239,496	$	270,293
Less: Total Net Income Available to Participating Unvested Restricted Shareholders1	(13,981)		(11,828)		(10,858)
Total Net Income Attributable to Federated Hermes Common Stock - Basic	$	284,999	$	227,668	$	259,435
Less: Total Net Income Available to Unvested Restricted Shareholders of a Nonpublic Consolidated Subsidiary	0		0		(1,580)
Total Net Income Attributable to Federated Hermes Common Stock - Diluted	$	284,999	$	227,668	$	257,855
Denominator
Basic Weighted-Average Federated Hermes Common Stock2	83,858		85,762		93,754
Dilutive Impact from Non-forfeitable Restricted Stock	5		4		17
Diluted Weighted-Average Federated Hermes Common Stock2	83,863		85,766		93,771
Earnings Per Share
Net Income Attributable to Federated Hermes Common Stock - Basic2	$	3.40	$	2.65	$	2.77
Net Income Attributable to Federated Hermes Common Stock - Diluted2	$	3.40	$	2.65	$	2.75

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 Federated Hermes common stock excludes unvested restricted stock which are deemed participating securities in accordance with the two-class method of computing earnings per share, except for circumstances where shares vest upon retirement and the employee has reached retirement age.