Condensed Financial Information of Parent Company

12 Months Ended

Dec. 31, 2024

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,
	2024		2023
Assets:
Cash and cash equivalents	$	283	$	268
Investment in securities	42		154
Investment in subsidiaries (*)	5,681		5,396
Real estate and other investments	64		63
Other assets	219		189
Total assets	$	6,289	$	6,070
Liabilities and Equity:
Long-term debt	$	1,475	$	1,475
Other liabilities	348		337
Shareholders’ equity	4,466		4,258
Total liabilities and equity	$	6,289	$	6,070

Condensed Statement of Earnings

	Year ended December 31,
	2024		2023		2022
Revenues:
Dividends from subsidiaries	$	841	$	903	$	879
Equity in undistributed earnings of subsidiaries	454		308		405
Investment and other income	28		60		28
Total revenues	1,323		1,271		1,312
Costs and Expenses:
Interest charges on intercompany borrowings	8		8		7
Interest charges on other borrowings	76		76		85
Other expenses	115		114		97
Total costs and expenses	199		198		189
Earnings before income taxes	1,124		1,073		1,123
Provision for income taxes	237		221		225
Net Earnings	$	887	$	852	$	898

Condensed Statement of Comprehensive Income

	Year ended December 31,
	2024		2023		2022
Net earnings	$	887	$	852	$	898
Other comprehensive income (loss), net of tax	79		224		(662)
Total comprehensive income, net of tax	$	966	$	1,076	$	236

________________________

(*)Investment in subsidiaries includes intercompany receivables and payables.

Condensed Statement of Cash Flows

	Year ended December 31,
	2024		2023		2022
Operating Activities:
Net earnings	$	887	$	852	$	898
Adjustments:
Equity in net earnings of subsidiaries	(1,030)		(967)		(1,030)
Dividends from subsidiaries	812		896		539
Other operating activities, net	43		(62)		(80)
Net cash provided by operating activities	712		719		327
Investing Activities:
Capital contributions to subsidiaries	(36)		(180)		(26)
Returns of capital from subsidiaries	30		7		29
Purchases of investments, property and equipment	(55)		(35)		(223)
Proceeds from:
Maturities and redemptions of investments	129		255		556
Sales of investments, property and equipment	4		178		656
Net cash provided by investing activities	72		225		992
Financing Activities:
Reductions of long-term debt	—		(21)		(477)
Issuances of Common Stock	19		17		18
Repurchases of Common Stock	—		(213)		(11)
Cash dividends paid on Common Stock	(788)		(684)		(1,213)
Net cash used in financing activities	(769)		(901)		(1,683)
Net Change in Cash and Cash Equivalents	15		43		(364)
Cash and cash equivalents at beginning of year	268		225		589
Cash and cash equivalents at end of year	$	283	$	268	$	225