Condensed Financial Information of Parent Company

12 Months Ended

Dec. 31, 2019

Condensed Financial Information Disclosure [Abstract]

Condensed Financial Information of Parent Company

AMERICAN FINANCIAL GROUP, INC. — PARENT ONLY

SCHEDULE II — CONDENSED FINANCIAL INFORMATION OF REGISTRANT

(In Millions)

Condensed Balance Sheet

	December 31,
	2019		2018
Assets:
Cash and cash equivalents	$	166	$	158
Investment in securities	77		65
Investment in subsidiaries (a)	7,623		6,155
Other investments	2		2
Other assets	143		68
Total assets	$	8,011	$	6,448
Liabilities and Equity:
Long-term debt	$	1,473	$	1,302
Other liabilities	269		176
Shareholders’ equity	6,269		4,970
Total liabilities and equity	$	8,011	$	6,448

Condensed Statement of Earnings

	Year ended December 31,
	2019		2018		2017
Revenues:
Dividends from subsidiaries	$	417	$	261	$	681
Equity in undistributed earnings of subsidiaries	888		529		264
Investment and other income	20		2		13
Total revenues	1,325		792		958
Costs and Expenses:
Interest charges on intercompany borrowings	8		8		9
Interest charges on other borrowings	68		62		85
Other expenses	113		70		142
Total costs and expenses	189		140		236
Earnings before income taxes	1,136		652		722
Provision for income taxes	239		122		247
Net Earnings Attributable to Shareholders	$	897	$	530	$	475

Condensed Statement of Comprehensive Income

Net earnings attributable to shareholders	$	897	$	530		$	475
Other comprehensive income (loss), net of tax	815		(544		)	296
Total comprehensive income (loss), net of tax	$	1,712	$	(14	)	$	771

________________________

(a)

Investment in subsidiaries includes intercompany receivables and payables.

Condensed Statement of Cash Flows

	Year ended December 31,
	2019			2018			2017
Operating Activities:
Net earnings attributable to shareholders	$	897		$	530		$	475
Adjustments:
Equity in net earnings of subsidiaries	(1,032		)	(637		)	(575		)
Dividends from subsidiaries	408			238			580
Other operating activities, net	33			84			98
Net cash provided by operating activities	306			215			578
Investing Activities:
Capital contributions to subsidiaries	(60		)	(11		)	(93		)
Returns of capital from subsidiaries	4			23			30
Purchases of investments, property and equipment	(3		)	(5		)	(2		)
Proceeds from maturities and redemptions of investments	3			3			2
Net cash provided by (used in) investing activities	(56		)	10			(63		)
Financing Activities:
Additional long-term borrowings	315			—			712
Reductions of long-term debt	(150		)	—			(745		)
Issuances of Common Stock	37			34			37
Repurchases of Common Stock	—			(6		)	—
Cash dividends paid on Common Stock	(444		)	(394		)	(417		)
Net cash used in financing activities	(242		)	(366		)	(413		)
Net Change in Cash and Cash Equivalents	8			(141		)	102
Cash and cash equivalents at beginning of year	158			299			197
Cash and cash equivalents at end of year	$	166		$	158		$	299