2021 Q1 Form 10-Q Financial Statement

#000105628821000013 Filed on May 04, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $341.2M $359.2M
YoY Change -5.01% 16.98%
Cost Of Revenue $14.60M $13.30M
YoY Change 9.77% 26.67%
Gross Profit $326.5M $345.9M
YoY Change -5.61% 16.62%
Gross Profit Margin 95.7% 96.3%
Selling, General & Admin $221.0M $246.3M
YoY Change -10.27% 11.45%
% of Gross Profit 67.69% 71.21%
Research & Development $18.59M $14.90M
YoY Change 24.83% 16.43%
% of Gross Profit 5.69% 4.31%
Depreciation & Amortization $7.200M $6.900M
YoY Change 4.35% -4.17%
% of Gross Profit 2.21% 1.99%
Operating Expenses $243.7M $266.4M
YoY Change -8.54% 12.82%
Operating Profit $97.48M $92.74M
YoY Change 5.1% 30.83%
Interest Expense $1.500M -$15.40M
YoY Change -109.74% -1284.62%
% of Operating Profit 1.54% -16.6%
Other Income/Expense, Net $1.865M -$7.037M
YoY Change -126.5% -530.92%
Pretax Income $99.34M $85.71M
YoY Change 15.91% 18.18%
Income Tax $25.00M $22.44M
% Of Pretax Income 25.16% 26.18%
Net Earnings $74.48M $64.18M
YoY Change 16.06% 17.66%
Net Earnings / Revenue 21.83% 17.87%
Basic Earnings Per Share $0.75 $0.63
Diluted Earnings Per Share $0.75 $0.63
COMMON SHARES
Basic Shares Outstanding 95.22M shares 97.35M shares
Diluted Shares Outstanding 95.22M shares 97.35M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $382.7M $381.0M
YoY Change 0.45% 135.04%
Cash & Equivalents $222.6M $308.3M
Short-Term Investments $160.1M $72.70M
Other Short-Term Assets $10.33M $8.147M
YoY Change 26.84% 260.01%
Inventory
Prepaid Expenses $27.40M $18.64M
Receivables $67.21M $49.76M
Other Receivables $32.70M $46.50M
Total Short-Term Assets $520.3M $504.1M
YoY Change 3.21% 81.11%
LONG-TERM ASSETS
Property, Plant & Equipment $50.98M $51.46M
YoY Change -0.94% -4.66%
Goodwill $801.5M $789.8M
YoY Change 1.48% -2.96%
Intangibles $481.5M $458.7M
YoY Change 4.97% 33.79%
Long-Term Investments
YoY Change
Other Assets $36.67M $20.48M
YoY Change 79.03% -44.45%
Total Long-Term Assets $1.490B $1.422B
YoY Change 4.77% 4.79%
TOTAL ASSETS
Total Short-Term Assets $520.3M $504.1M
Total Long-Term Assets $1.490B $1.422B
Total Assets $2.010B $1.926B
YoY Change 4.36% 17.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $57.70M $80.60M
YoY Change -28.41% 31.27%
Accrued Expenses $91.20M $70.90M
YoY Change 28.63% 30.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $199.3M $187.2M
YoY Change 6.45% 42.17%
LONG-TERM LIABILITIES
Long-Term Debt $70.00M $195.0M
YoY Change -64.1% 50.0%
Other Long-Term Liabilities $30.20M $24.82M
YoY Change 21.65% 29.77%
Total Long-Term Liabilities $409.8M $496.5M
YoY Change -17.46% 18.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $199.3M $187.2M
Total Long-Term Liabilities $409.8M $496.5M
Total Liabilities $609.1M $683.7M
YoY Change -10.91% 24.03%
SHAREHOLDERS EQUITY
Retained Earnings $1.063B $949.2M
YoY Change 11.97% 17.58%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.155B $1.043B
YoY Change
Total Liabilities & Shareholders Equity $2.010B $1.926B
YoY Change 4.36% 17.78%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $74.48M $64.18M
YoY Change 16.06% 17.66%
Depreciation, Depletion And Amortization $7.200M $6.900M
YoY Change 4.35% -4.17%
Cash From Operating Activities -$30.01M $29.25M
YoY Change -202.61% 74.54%
INVESTING ACTIVITIES
Capital Expenditures $2.159M $1.557M
YoY Change 38.66% -69.23%
Acquisitions $0.00 $4.744M
YoY Change -100.0%
Other Investing Activities $700.0K -$6.600M
YoY Change -110.61% 1550.0%
Cash From Investing Activities -$1.504M -$8.157M
YoY Change -81.56% 49.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $39.07M $15.00M
YoY Change 160.49% 910.1%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$48.99M $50.40M
YoY Change -197.2% -240.31%
NET CHANGE
Cash From Operating Activities -$30.01M $29.25M
Cash From Investing Activities -$1.504M -$8.157M
Cash From Financing Activities -$48.99M $50.40M
Net Change In Cash -$79.24M $65.01M
YoY Change -221.89% -391.02%
FREE CASH FLOW
Cash From Operating Activities -$30.01M $29.25M
Capital Expenditures $2.159M $1.557M
Free Cash Flow -$32.17M $27.69M
YoY Change -216.17% 136.72%

Facts In Submission

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CY2021Q1 us-gaap Basis Of Accounting
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Basis of Presentation <div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Federated Hermes, Inc. and its consolidated subsidiaries (collectively, Federated Hermes) provide investment advisory, administrative, distribution and other services to various investment products, including sponsored investment companies, collective funds and other funds (Federated Hermes Funds) and Separate Accounts (which include separately managed accounts, institutional accounts, certain sub-advised funds and other managed products) in both domestic and international markets. In addition, Federated Hermes markets and provides stewardship and real estate development services to various domestic and international companies. The interim Consolidated Financial Statements of Federated Hermes included herein have been prepared in accordance with U.S. generally accepted accounting principles (GAAP). In the opinion of management, the financial statements reflect all adjustments that are of a normal recurring nature and necessary for a fair presentation of the results for the interim periods presented.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In preparing the financial statements, management is required to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying notes. Actual results may differ from those estimates, and such differences may be material to the Consolidated Financial Statements. </span></div>These financial statements should be read in conjunction with Federated Hermes' Annual Report on Form 10-K for the year ended December 31, 2020. Certain items reported in previous periods have been reclassified to conform to the current period's presentation.
CY2021Q1 us-gaap Use Of Estimates
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In preparing the financial statements, management is required to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying notes. Actual results may differ from those estimates, and such differences may be material to the Consolidated Financial Statements.
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Generally, contracts are billed in arrears on a quarterly basis and have a three year duration, after which the customer can terminate the agreement with notice, generally from three to 12 months.
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1430000 USD
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25762000 USD
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CY2021Q1 fhi Temporary Equity Stock Issued During Period Value Share Based Compensation Net Of Forfeitures
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2481000 USD
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1898000 USD
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245717000 USD
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212086000 USD
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5577000 USD
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2153000 USD
CY2020Q1 fhi Temporary Equity Decreasefrom Distributionsto Noncontrolling Interest Holders
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6039000 USD
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1870000 USD
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199261000 USD

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