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Shareholders' Equity (Tables) | 9 Months Ended
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Sep. 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 September 30, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains on securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) on securities arising during the period |  |  | $ | (111 | ) |  | $ | 38 |  |  | $ | (73 | ) |  | $ | 2 |  |  | $ | (71 | ) |  |  |  |
Reclassification adjustment for realized (gains) losses included in net earnings (a) |  |  | (14 | ) |  | 6 |  |  | (8 | ) |  | — |  |  | (8 | ) |  |  |  |
Total net unrealized gains on securities (b) | $ | 805 |  |  | (125 | ) |  | 44 |  |  | (81 | ) |  | 2 |  |  | (79 | ) |  | $ | 726 |  |
Foreign currency translation adjustments | (2 | ) |  | (2 | ) |  | — |  |  | (2 | ) |  | — |  |  | (2 | ) |  | (4 | ) |
Pension and other postretirement plans adjustments | (4 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (4 | ) |
Total | $ | 799 |  |  | $ | (127 | ) |  | $ | 44 |  |  | $ | (83 | ) |  | $ | 2 |  |  | $ | (81 | ) |  | $ | 718 |  |
Quarter ended September 30, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains on securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) on securities arising during the period |  |  | $ | 8 |  |  | $ | (4 | ) |  | $ | 4 |  |  | $ | (1 | ) |  | $ | 3 |  |  |  |
Reclassification adjustment for realized (gains) losses included in net earnings (a) |  |  | (56 | ) |  | 20 |  |  | (36 | ) |  | 1 |  |  | (35 | ) |  |  |
Total net unrealized gains on securities | $ | 600 |  |  | (48 | ) |  | 16 |  |  | (32 | ) |  | — |  |  | (32 | ) |  | $ | 568 |  |
Foreign currency translation adjustments | 5 |  |  | 3 |  |  | — |  |  | 3 |  |  | — |  |  | 3 |  |  | 8 |  |
Pension and other postretirement plans adjustments | (6 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (6 | ) |
Total | $ | 599 |  |  | $ | (45 | ) |  | $ | 16 |  |  | $ | (29 | ) |  | $ | — |  |  | $ | (29 | ) |  | $ | 570 |  |
Nine months ended September 30, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains on securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) on securities arising during the period |  |  | $ | 300 |  |  | $ | (106 | ) |  | $ | 194 |  |  | $ | (4 | ) |  | $ | 190 |  |  |  |  |
Reclassification adjustment for realized (gains) losses included in net earnings (a) |  |  | (44 | ) |  | 16 |  |  | (28 | ) |  | 1 |  |  | (27 | ) |  |  |  |
Total net unrealized gains on securities (b) | $ | 563 |  |  | 256 |  |  | (90 | ) |  | 166 |  |  | (3 | ) |  | 163 |  |  | $ | 726 |  |
Foreign currency translation adjustments | 1 |  |  | (5 | ) |  | — |  |  | (5 | ) |  | — |  |  | (5 | ) |  | (4 | ) |
Pension and other postretirement plans adjustments | (4 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (4 | ) |
Total | $ | 560 |  |  | $ | 251 |  |  | $ | (90 | ) |  | $ | 161 |  |  | $ | (3 | ) |  | $ | 158 |  |  | $ | 718 |  |
Nine months ended September 30, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains on securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) on securities arising during the period |  |  | $ | (248 | ) |  | $ | 86 |  |  | $ | (162 | ) |  | $ | 4 |  |  | $ | (158 | ) |  |  |
Reclassification adjustment for realized (gains) losses included in net earnings (a) |  |  | (153 | ) |  | 54 |  |  | (99 | ) |  | 2 |  |  | (97 | ) |  |  |
Total net unrealized gains on securities | $ | 823 |  |  | (401 | ) |  | 140 |  |  | (261 | ) |  | 6 |  |  | (255 | ) |  | $ | 568 |  |
Foreign currency translation adjustments | 14 |  |  | (6 | ) |  | — |  |  | (6 | ) |  | — |  |  | (6 | ) |  | 8 |  |
Pension and other postretirement plans adjustments | (6 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (6 | ) |
Total | $ | 831 |  |  | $ | (407 | ) |  | $ | 140 |  |  | $ | (267 | ) |  | $ | 6 |  |  | $ | (261 | ) |  | $ | 570 |  |
(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 both September 30, 2014 and June 30, 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 |
| Nine months ended September 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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