Quarterly Operating Results (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2016

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, 2016 (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
2016
Revenues	$	1,475	$	1,581	$	1,705	$	1,737	$	6,498
Net earnings, including noncontrolling interests	104		63		113		388		668
Net earnings attributable to shareholders	101		54		109		385		649
Earnings attributable to shareholders per Common Share:
Basic	$	1.16	$	0.63	$	1.25	$	4.43	$	7.47
Diluted	1.14		0.62		1.23		4.33		7.33
Average number of Common Shares:
Basic	86.9		86.8		86.9		86.9		86.9
Diluted	88.5		88.4		88.5		88.8		88.5
2015
Revenues	$	1,297	$	1,543	$	1,687	$	1,618	$	6,145
Net earnings, including noncontrolling interests	25		149		66		130		370
Net earnings attributable to shareholders	19		141		63		129		352
Earnings attributable to shareholders per Common Share:
Basic	$	0.22	$	1.60	$	0.72	$	1.48	$	4.02
Diluted	0.21		1.57		0.71		1.45		3.94
Average number of Common Shares:
Basic	87.6		87.7		87.5		87.4		87.6
Diluted	89.4		89.5		89.3		89.2		89.4

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

Pretax realized gains on subsidiaries and securities (including other-than-temporary impairments) and favorable (adverse) 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) on Securities and Subsidiaries
2016	$	(18	)	$	(14	)	$	2		$	51		$	21
2015	(143		)	(1		)	(11		)	(25		)	(180		)
Prior Year Development Favorable (Adverse)
2016	$	28		$	(28	)	$	(22	)	$	(10	)	$	(32	)
2015	7			10			(55		)	5			(33		)