Income Taxes

3 Months Ended

Mar. 31, 2025

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The following is a reconciliation of income taxes at the statutory rate of 21% to the provision for income taxes as shown in AFG’s Statement of Earnings (dollars in millions):

	Three months ended March 31,
	2025				2024
	Amount		% of EBT		Amount		% of EBT
Earnings before income taxes (“EBT”)	$	197			$	304
Income taxes at statutory rate	$	41	21	%	$	64	21	%
Effect of:
Employee stock ownership plan dividend paid deduction	(2)		(1	%)	(2)		(1	%)
Tax exempt interest	(1)		(1	%)	(1)		—	%
Stock-based compensation	(1)		(1	%)	(2)		(1	%)
Nondeductible expenses	3		2	%	2		1	%
Foreign operations	2		1	%	—		—	%
Other	1		1	%	1		—	%
Provision for income taxes as shown in the statement of earnings	$	43	22	%	$	62	20	%