Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2024

Stockholders' Equity Note [Abstract]

Summary of restricted stock awards

The restricted Common Stock that AFG has granted generally vests over a four-year period. Data relating to grants of restricted stock is presented below:

	Shares	Average Grant Date Fair Value
Outstanding at January 1, 2024	572,892	$	120.28
Granted	157,681	$	126.24
Vested	(151,377)	$	105.96
Forfeited	(12,832)	$	127.26
Outstanding at December 31, 2024	566,364	$	125.61

Components of accumulated other comprehensive income (loss)

The progression of the components of accumulated other comprehensive income (loss) follows (in millions):

			Other Comprehensive Income (Loss)
	AOCI Beginning Balance		Pretax		Tax		Net of tax		AOCI Ending Balance
Year ended December 31, 2024
Net unrealized gains (losses) on securities:
Unrealized holding gains (losses) on securities arising during the period			$	77	$	(16)	$	61
Reclassification adjustment for realized (gains) losses included in net earnings (*)			31		(7)		24
Total net unrealized gains (losses) on securities	$	(287)	108		(23)		85		$	(202)
Net unrealized gains (losses) on cash flow hedges:
Unrealized holding gains (losses) on cash flow hedges arising during the period			(16)		4		(12)
Reclassification adjustment for investment income included in net earnings (*)			24		(5)		19
Total net unrealized gains (losses) on cash flow hedges	(17)		8		(1)		7		(10)
Foreign currency translation adjustments	(17)		(12)		(1)		(13)		(30)
Pension and other postretirement plan adjustments	2		—		—		—		2
Total	$	(319)	$	104	$	(25)	$	79	$	(240)

			Other Comprehensive Income (Loss)
	AOCI Beginning Balance		Pretax		Tax		Net of tax		AOCI Ending Balance
Year ended December 31, 2023
Net unrealized gains (losses) on securities:
Unrealized holding gains (losses) on securities arising during the period			$	224	$	(48)	$	176
Reclassification adjustment for realized (gains) losses included in net earnings (*)			43		(9)		34
Total net unrealized gains (losses) on securities	$	(497)	267		(57)		210		$	(287)
Net unrealized gains (losses) on cash flow hedges:
Unrealized holding gains (losses) on cash flow hedges arising during the period			(11)		2		(9)
Reclassification adjustment for investment income included in net earnings (*)			26		(5)		21
Total net unrealized gains (losses) on cash flow hedges	(29)		15		(3)		12		(17)
Foreign currency translation adjustments	(20)		2		1		3		(17)
Pension and other postretirement plan adjustments	3		(1)		—		(1)		2
Total	$	(543)	$	283	$	(59)	$	224	$	(319)
Year ended December 31, 2022
Net unrealized gains (losses) on securities:
Unrealized holding gains (losses) on securities arising during the period			$	(821)	$	174	$	(647)
Reclassification adjustment for realized (gains) losses included in net earnings (*)			18		(4)		14
Total net unrealized gains (losses) on securities	$	136	(803)		170		(633)		$	(497)
Net unrealized gains (losses) on cash flow hedges:
Unrealized holding gains (losses) on cash flow hedges arising during the period			(37)		8		(29)
Reclassification adjustment for investment income included in net earnings (*)			—		—		—
Total net unrealized gains (losses) on cash flow hedges	—		(37)		8		(29)		(29)
Foreign currency translation adjustments	(18)		(1)		(1)		(2)		(20)
Pension and other postretirement plan adjustments	1		2		—		2		3
Total	$	119	$	(839)	$	177	$	(662)	$	(543)

(*)The reclassification adjustments affected the following lines in AFG’s Statement of Earnings:

OCI component	Affected line in the statement of earnings
Pretax - Net unrealized gains (losses) on securities	Realized gains (losses) on securities
Pretax - Net unrealized gains (losses) on cash flow hedges	Net investment income
Pretax - Net unrealized gains (losses) on pension and other postretirement plans	Other expenses
Tax	Provision for income taxes