Quarterly Operating Results (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2012

Quarterly Financial Information Disclosure [Abstract]

Schedule of quarterly operating results

The following are quarterly results of consolidated operations for the two years ended December 31, 2012 (in millions, except per share amounts). Quarterly earnings per share do not add to year-to-date amounts due to changes in shares outstanding.

	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter		Total Year
2012
Revenues	$	1,113	$	1,150	$	1,563	$	1,236	$	5,062
Net earnings, including noncontrolling interests	88		84		211		19		402
Net earnings attributable to shareholders	113		99		226		50		488
Earnings attributable to shareholders per common share:
Basic	$	1.16	$	1.02	$	2.43	$	0.55	$	5.18
Diluted	1.14		1.01		2.39		0.54		5.09
Average number of Common Shares:
Basic	97.7		96.4		92.9		89.8		94.2
Diluted	99.4		98.0		94.6		91.4		95.9
2011
Revenues	$	1,039	$	1,093	$	1,335	$	1,283	$	4,750
Net earnings, including noncontrolling interests	54		30		108		127		319
Net earnings attributable to shareholders	88		48		97		109		342
Earnings attributable to shareholders per common share:
Basic	$	0.84	$	0.47	$	0.97	$	1.11	$	3.37
Diluted	0.83		0.46		0.95		1.09		3.32
Average number of Common Shares:
Basic	104.6		102.7		99.7		98.2		101.3
Diluted	106.2		104.4		101.3		99.8		102.9

Quarterly information on realized gains (losses) and favorable (unfavorable) development on unpaid loss and loss adjustment expenses

Pretax realized gains (losses) on subsidiaries and securities (including other-than-temporary impairments) and favorable (unfavorable) prior year development of AFG’s liability for losses and loss adjustment expenses (“LAE”) were as follows (in millions):

	1st Quarter			2nd Quarter			3rd Quarter			4th Quarter		Total Year
Realized Gains (Losses)
2012	$	44		$	15		$	241		$	71	$	371
2011	(3		)	19			8			49		73
Prior Year Development Favorable (Unfavorable)
2012	$	19		$	26		$	(22	)	$	7	$	30
2011	21			(13		)	34			27		69