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Quarterly Operating Results (Unaudited) (Tables) | 12 Months Ended
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Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract] |
Schedule of quarterly operating results | The following are quarterly results of consolidated operations for the two years ended December 31, 2018 (in millions, except per share amounts). Quarterly earnings per share do not add to year-to-date amounts due to changes in shares outstanding.
|  | 1st Quarter |  | 2nd Quarter |  | 3rd Quarter |  | 4th Quarter |  | Total Year
2018 |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 1,619 |  |  | $ | 1,833 |  |  | $ | 2,008 |  |  | $ | 1,690 |  |  | $ | 7,150 |
Net earnings (losses), including noncontrolling interests |  | 141 |  |  | 208 |  |  | 203 |  |  | (35 | ) |  | 517 |
Net earnings (losses) attributable to shareholders |  | 145 |  |  | 210 |  |  | 204 |  |  | (29 | ) |  | 530 |
Earnings (losses) attributable to shareholders per Common Share: |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 1.64 |  |  | $ | 2.36 |  |  | $ | 2.30 |  |  | $ | (0.33 | ) |  | $ | 5.95 |
Diluted |  | 1.60 |  |  | 2.31 |  |  | 2.26 |  |  | (0.33 | ) |  | 5.85 |
Average number of Common Shares: |  |  |  |  |  |  |  |  |  |
Basic |  | 88.6 |  |  | 89.0 |  |  | 89.1 |  |  | 89.3 |  |  | 89.0 |
Diluted |  | 90.4 |  |  | 90.7 |  |  | 90.7 |  |  | 89.3 |  |  | 90.6 |
2017 |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 1,576 |  |  | $ | 1,646 |  |  | $ | 1,835 |  |  | $ | 1,808 |  |  | $ | 6,865 |
Net earnings, including noncontrolling interests |  | 155 |  |  | 145 |  |  | 11 |  |  | 166 |  |  | 477 |
Net earnings attributable to shareholders |  | 153 |  |  | 145 |  |  | 11 |  |  | 166 |  |  | 475 |
Earnings attributable to shareholders per Common Share: |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 1.76 |  |  | $ | 1.64 |  |  | $ | 0.13 |  |  | $ | 1.88 |  |  | $ | 5.40 |
Diluted |  | 1.72 |  |  | 1.61 |  |  | 0.13 |  |  | 1.84 |  |  | 5.28 |
Average number of Common Shares: |  |  |  |  |  |  |  |  |  |
Basic |  | 87.2 |  |  | 87.8 |  |  | 88.1 |  |  | 88.2 |  |  | 87.8 |
Diluted |  | 89.3 |  |  | 89.8 |  |  | 90.0 |  |  | 90.1 |  |  | 89.8 |
Quarterly information on realized gains (losses) and favorable (unfavorable) development on unpaid loss and loss adjustment expenses | Pretax realized gains on subsidiaries and securities (including other-than-temporary impairments), favorable (adverse) prior year development of AFG’s liability for losses and loss adjustment expenses (“LAE”) and the impact of derivatives related to fixed-indexed and variable-indexed annuities (“FIAs”) were as follows (in millions):
|  | 1st Quarter |  | 2nd Quarter |  | 3rd Quarter |  | 4th Quarter |  | Total Year
Realized Gains (Losses) on Securities and Subsidiaries |  |  |  |  |  |  |  |  |  |
2018 – change in fair value of equity securities |  | $ | (95 | ) |  | $ | 23 |  |  | $ | 33 |  |  | $ | (223 | ) |  | $ | (262 | )
2018 – other realized gains (losses) |  | 2 |  |  | 8 |  |  | 1 |  |  | (15 | ) |  | (4 | )
2017 |  | 3 |  |  | 8 |  |  | (12 | ) |  | 6 |  |  | 5 |
Prior Year Development Favorable (Adverse) |  |  |  |  |  |  |  |  |  |
2018 |  | $ | 56 |  |  | $ | 44 |  |  | $ | 31 |  |  | $ | 61 |  |  | $ | 192 |
2017 |  | 28 |  |  | 22 |  |  | (52 | ) |  | 66 |  |  | 64 |
Impact of Derivatives related to FIAs Favorable (Adverse) |  |  |  |  |  |  |  |  |  |
2018 |  | $ | 13 |  |  | $ | 3 |  |  | $ | (2 | ) |  | $ | (47 | ) |  | $ | (33 | )
2017 |  | (2 | ) |  | (16 | ) |  | (4 | ) |  | (11 | ) |  | (33 | )

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- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109225645&loc=d3e1280-108306 + Details
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