Segment and Geographic Information

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Segment and Geographic Information

Segment and Geographic Information

Federated Hermes operates in one operating segment, the investment management business.

Federated Hermes’ revenues from U.S. and non-U.S. operations were as follows for the years ended December 31:

(in thousands)	2023		2022		2021
U.S.	$	1,291,959	$	1,159,373	$	953,620
Non-U.S.1	317,615		286,441		346,827
Total Revenue	$	1,609,574	$	1,445,814	$	1,300,447

1    This represents revenue earned by non-U.S. domiciled subsidiaries, primarily in the UK.

Federated Hermes’ Right-of-Use Assets, net and Property and Equipment, net for U.S. and non-U.S. operations were as follows at December 31:

(in thousands)	2023		2022
U.S.	$	100,719	$	87,637
Non-U.S.1	29,257		40,966
Total Right-of-Use Assets, net and Property and Equipment, net1	$	129,976	$	128,603

1    This represents net assets of non-U.S. domiciled subsidiaries, primarily in the UK.