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Shareholders' Equity | 9 Months Ended
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Sep. 30, 2016
Stockholders' Equity Note [Abstract] |
Shareholders' Equity | Shareholders’ Equity AFG is authorized to issue 12.5 million shares of Voting Preferred Stock and 12.5 million shares of Nonvoting Preferred Stock, each without par value. Accumulated Other Comprehensive Income, Net of Tax (“AOCI”) Comprehensive income is defined as all changes in shareholders’ equity except those arising from transactions with shareholders. Comprehensive income includes net earnings and other comprehensive income, which consists primarily of changes in net unrealized gains or losses on available for sale securities. 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, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains (losses) on securities: |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) on securities arising during the period |  |  | $ | 138 |  |  | $ | (49 | ) |  | $ | 89 |  |  | $ | (1 | ) |  | $ | 88 |  |  |  |
Reclassification adjustment for realized (gains) losses included in net earnings (a) |  |  | (2 | ) |  | 1 |  |  | (1 | ) |  | — |  |  | (1 | ) |  |  |
Total net unrealized gains on securities (b) | $ | 685 |  |  | 136 |  |  | (48 | ) |  | 88 |  |  | (1 | ) |  | 87 |  |  | $ | 772 |
Net unrealized gains (losses) on cash flow hedges | 5 |  |  | (1 | ) |  | 1 |  |  | — |  |  | — |  |  | — |  |  | 5 |
Foreign currency translation adjustments | (15 | ) |  | (2 | ) |  | (1 | ) |  | (3 | ) |  | — |  |  | (3 | ) |  | (18 | )
Pension and other postretirement plans adjustments | (6 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (6 | )
Total | $ | 669 |  |  | $ | 133 |  |  | $ | (48 | ) |  | $ | 85 |  |  | $ | (1 | ) |  | $ | 84 |  |  | $ | 753 |
Quarter ended September 30, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains (losses) on securities: |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding losses on securities arising during the period |  |  | $ | (171 | ) |  | $ | 61 |  |  | $ | (110 | ) |  | $ | 3 |  |  | $ | (107 | ) |  |
Reclassification adjustment for realized (gains) losses included in net earnings (a) |  |  | 16 |  |  | (6 | ) |  | 10 |  |  | (1 | ) |  | 9 |  |  |
Total net unrealized gains (losses) on securities | $ | 587 |  |  | (155 | ) |  | 55 |  |  | (100 | ) |  | 2 |  |  | (98 | ) |  | $ | 489 |
Net unrealized gains on cash flow hedges | — |  |  | 3 |  |  | (1 | ) |  | 2 |  |  | — |  |  | 2 |  |  | 2 |
Foreign currency translation adjustments | (16 | ) |  | (5 | ) |  | (2 | ) |  | (7 | ) |  | — |  |  | (7 | ) |  | (23 | )
Pension and other postretirement plans adjustments | (8 | ) |  | 1 |  |  | — |  |  | 1 |  |  | — |  |  | 1 |  |  | (7 | )
Total | $ | 563 |  |  | $ | (156 | ) |  | $ | 52 |  |  | $ | (104 | ) |  | $ | 2 |  |  | $ | (102 | ) |  | $ | 461 |
|  |  | Other Comprehensive Income |  |
| AOCI Beginning Balance |  | Pretax |  | Tax |  | Net of tax |  | Attributable to noncontrolling interests |  | Attributable to shareholders |  | AOCI Ending Balance
Nine months ended September 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains (losses) on securities: |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) on securities arising during the period |  |  | $ | 656 |  |  | $ | (229 | ) |  | $ | 427 |  |  | $ | (6 | ) |  | $ | 421 |  |  |  |
Reclassification adjustment for realized (gains) losses included in net earnings (a) |  |  | 32 |  |  | (12 | ) |  | 20 |  |  | (1 | ) |  | 19 |  |  |  |
Total net unrealized gains on securities (b) | $ | 332 |  |  | 688 |  |  | (241 | ) |  | 447 |  |  | (7 | ) |  | 440 |  |  | $ | 772 |
Net unrealized gains on cash flow hedges | 1 |  |  | 6 |  |  | (2 | ) |  | 4 |  |  | — |  |  | 4 |  |  | 5 |
Foreign currency translation adjustments | (22 | ) |  | 2 |  |  | 2 |  |  | 4 |  |  | — |  |  | 4 |  |  | (18 | )
Pension and other postretirement plans adjustments | (7 | ) |  | 1 |  |  | — |  |  | 1 |  |  | — |  |  | 1 |  |  | (6 | )
Total | $ | 304 |  |  | $ | 697 |  |  | $ | (241 | ) |  | $ | 456 |  |  | $ | (7 | ) |  | $ | 449 |  |  | $ | 753 |
Nine months ended September 30, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains (losses) on securities: |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding losses on securities arising during the period |  |  | $ | (394 | ) |  | $ | 139 |  |  | $ | (255 | ) |  | $ | 5 |  |  | $ | (250 | ) |  |
Reclassification adjustment for realized (gains) losses included in net earnings (a) |  |  | (4 | ) |  | 1 |  |  | (3 | ) |  | (1 | ) |  | (4 | ) |  |
Total net unrealized gains (losses) on securities | $ | 743 |  |  | (398 | ) |  | 140 |  |  | (258 | ) |  | 4 |  |  | (254 | ) |  | $ | 489 |
Net unrealized gains on cash flow hedges | — |  |  | 3 |  |  | (1 | ) |  | 2 |  |  | — |  |  | 2 |  |  | 2 |
Foreign currency translation adjustments | (8 | ) |  | (11 | ) |  | (4 | ) |  | (15 | ) |  | — |  |  | (15 | ) |  | (23 | )
Pension and other postretirement plans adjustments | (8 | ) |  | 1 |  |  | — |  |  | 1 |  |  | — |  |  | 1 |  |  | (7 | )
Total | $ | 727 |  |  | $ | (405 | ) |  | $ | 135 |  |  | $ | (270 | ) |  | $ | 4 |  |  | $ | (266 | ) |  | $ | 461 |
(a) | The reclassification adjustment out of net unrealized gains on securities affected the following lines in AFG’s Statement of Earnings:
| OCI component |  | Affected line in the statement of earnings |
| Pretax |  | Realized gains (losses) on securities |
| Tax |  | Provision for income taxes |
| Attributable to noncontrolling interests |  | Net earnings (loss) attributable to noncontrolling interests |
(b) | Includes net unrealized gains of $51 million at September 30, 2016 compared to $48 million at June 30, 2016 and $51 million at December 31, 2015 related to securities for which only the credit portion of an other-than-temporary impairment has been recorded in earnings.
Stock Incentive Plans Under AFG’s stock incentive plans, employees of AFG and its subsidiaries are eligible to receive equity awards in the form of stock options, stock appreciation rights, restricted stock awards, restricted stock units and stock awards. In the first nine months of 2016, AFG issued 318,940 shares of restricted Common Stock (average fair value of $67.00 per share) under the Stock Incentive Plan. In addition, AFG issued 40,336 shares of Common Stock (fair value of $71.05 per share) in the first quarter of 2016 under the Equity Bonus Plan. AFG did not grant any stock options in the first nine months of 2016. Total compensation expense related to stock incentive plans of AFG and its subsidiaries was $7 million and $5 million in the third quarters of 2016 and 2015 and $21 million and $18 million in the first nine months of 2016 and 2015, respectively.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB Topic 4.E) -URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74567-122707 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(31)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB Topic 4.C) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(30)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(d)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 + Details
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