Segment and Geographic Information

12 Months Ended

Dec. 31, 2025

Federated Hermes operates in one operating segment, the investment management business. Federated Hermes’ CEO is the CODM. The CODM utilizes a consolidated approach to allocate resources and assess performance.

The CODM assesses performance and decides how to allocate resources based on revenue and net income as reported on the Consolidated Statements of Income. The measure of segment assets is reported on the Consolidated Balance Sheets as Total Assets.

The CODM uses revenue and net income in making key operating decisions, including approvals for business acquisitions, high-level compensation decisions, determination of shareholder dividends, including special dividends, repurchasing company stock, developing and seeding new offerings, modifying existing offerings and determining funding of significant technology projects.

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


(in thousands)	2025		2024		2023
U.S.	$	1,557,819	$	1,384,559	$	1,291,959
Non-U.S.1	242,844		247,534		317,615
Total Revenue	$	1,800,663	$	1,632,093	$	1,609,574

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

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)	2025		2024
U.S.	$	89,664	$	105,110
Non-U.S.1	30,967		25,165
Total Right-of-Use Assets, net and Property and Equipment, net1	$	120,631	$	130,275

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

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

FEDERATED HERMES, INC. 10-K