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Shareholders' Equity (Tables) | 6 Months Ended
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Jun. 30, 2014
Stockholders' Equity Note [Abstract] |
Components of accumulated other comprehensive income (loss) | The progression of the components of accumulated other comprehensive income follows (in millions):
|  |  | Other Comprehensive Income |  |  |
| AOCI Beginning Balance |  | Pretax |  | Tax |  | Net of tax |  | Attributable to noncontrolling interests |  | Attributable to shareholders |  | AOCI Ending Balance |
Quarter ended June 30, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains on securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) on securities arising during the period |  |  | $ | 200 |  |  | $ | (70 | ) |  | $ | 130 |  |  | $ | (3 | ) |  | $ | 127 |  |  |  |  |
Reclassification adjustment for realized gains (losses) included in net earnings (a) |  |  | (12 | ) |  | 4 |  |  | (8 | ) |  | 1 |  |  | (7 | ) |  |  |  |
Total net unrealized gains on securities (b) | $ | 685 |  |  | 188 |  |  | (66 | ) |  | 122 |  |  | (2 | ) |  | 120 |  |  | $ | 805 |  |
Foreign currency translation adjustments | (4 | ) |  | 2 |  |  | — |  |  | 2 |  |  | — |  |  | 2 |  |  | (2 | ) |
Pension and other postretirement plans adjustments | (4 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (4 | ) |
Total | $ | 677 |  |  | $ | 190 |  |  | $ | (66 | ) |  | $ | 124 |  |  | $ | (2 | ) |  | $ | 122 |  |  | $ | 799 |  |
Quarter ended June 30, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains on securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) on securities arising during the period |  |  | $ | (378 | ) |  | $ | 133 |  |  | $ | (245 | ) |  | $ | 6 |  |  | $ | (239 | ) |  |  |
Reclassification adjustment for realized gains (losses) included in net earnings (a) |  |  | (41 | ) |  | 14 |  |  | (27 | ) |  | 1 |  |  | (26 | ) |  |  |
Total net unrealized gains on securities | $ | 865 |  |  | (419 | ) |  | 147 |  |  | (272 | ) |  | 7 |  |  | (265 | ) |  | $ | 600 |  |
Foreign currency translation adjustments | 10 |  |  | (5 | ) |  | — |  |  | (5 | ) |  | — |  |  | (5 | ) |  | 5 |  |
Pension and other postretirement plans adjustments | (6 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (6 | ) |
Total | $ | 869 |  |  | $ | (424 | ) |  | $ | 147 |  |  | $ | (277 | ) |  | $ | 7 |  |  | $ | (270 | ) |  | $ | 599 |  |
Six months ended June 30, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains on securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) on securities arising during the period |  |  | $ | 411 |  |  | $ | (144 | ) |  | $ | 267 |  |  | $ | (6 | ) |  | $ | 261 |  |  |  |  |
Reclassification adjustment for realized gains (losses) included in net earnings (a) |  |  | (30 | ) |  | 10 |  |  | (20 | ) |  | 1 |  |  | (19 | ) |  |  |  |
Total net unrealized gains on securities (b) | $ | 563 |  |  | 381 |  |  | (134 | ) |  | 247 |  |  | (5 | ) |  | 242 |  |  | $ | 805 |  |
Foreign currency translation adjustments | 1 |  |  | (3 | ) |  | — |  |  | (3 | ) |  | — |  |  | (3 | ) |  | (2 | ) |
Pension and other postretirement plans adjustments | (4 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (4 | ) |
Total | $ | 560 |  |  | $ | 378 |  |  | $ | (134 | ) |  | $ | 244 |  |  | $ | (5 | ) |  | $ | 239 |  |  | $ | 799 |  |
Six months ended June 30, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains on securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) on securities arising during the period |  |  | $ | (256 | ) |  | $ | 90 |  |  | $ | (166 | ) |  | $ | 5 |  |  | $ | (161 | ) |  |  |
Reclassification adjustment for realized gains (losses) included in net earnings (a) |  |  | (97 | ) |  | 34 |  |  | (63 | ) |  | 1 |  |  | (62 | ) |  |  |
Total net unrealized gains on securities | $ | 823 |  |  | (353 | ) |  | 124 |  |  | (229 | ) |  | 6 |  |  | (223 | ) |  | $ | 600 |  |
Foreign currency translation adjustments | 14 |  |  | (9 | ) |  | — |  |  | (9 | ) |  | — |  |  | (9 | ) |  | 5 |  |
Pension and other postretirement plans adjustments | (6 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (6 | ) |
Total | $ | 831 |  |  | $ | (362 | ) |  | $ | 124 |  |  | $ | (238 | ) |  | $ | 6 |  |  | $ | (232 | ) |  | $ | 599 |  |
(a) | The reclassification adjustment out of net unrealized gains on securities affected the following lines in AFG’s Consolidated Statement of Earnings:
| OCI component |  | Affected line in the Consolidated Statement of Earnings |
| Pretax |  | Realized gains on securities |
| Tax |  | Provision for income taxes |
| Attributable to noncontrolling interests |  | Net earnings (loss) attributable to noncontrolling interests |
(b) | Includes net unrealized gains of $60 million at June 30, 2014, $58 million at March 31, 2014 and $54 million at December 31, 2013 related to securities for which only the credit portion of an other-than-temporary impairment has been recorded in earnings.
Assumptions used in estimating weighted average fair value of options on grant date |
| Six months ended June 30,
| 2014 |  | 2013
Exercise price | $ | 56.47 |  |  | $ | 44.01 |
Expected dividend yield | 1.6 | % |  | 1.8 | %
Expected volatility | 26 | % |  | 39 | %
Expected term (in years) | 7.25 |  |  | 7.25 |
Risk-free rate | 2.20 | % |  | 1.36 | %
Grant date fair value | $ | 14.66 |  |  | $ | 15.10 |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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