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Long-Term Debt | 3 Months Ended
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Mar. 31, 2020
Debt Disclosure [Abstract] |
Long-Term Debt | Long-Term Debt Long-term debt consisted of the following (in millions):
| March 31, 2020 |  | December 31, 2019
| Principal |  | Discount and Issue Costs |  | Carrying Value |  | Principal |  | Discount and Issue Costs |  | Carrying Value
Direct Senior Obligations of AFG: |  |  |  |  |  |  |  |  |  |  |
4.50% Senior Notes due June 2047 | $ | 590 |  |  | $ | (2 | ) |  | $ | 588 |  |  | $ | 590 |  |  | $ | (2 | ) |  | $ | 588 |
3.50% Senior Notes due August 2026 | 425 |  |  | (3 | ) |  | 422 |  |  | 425 |  |  | (3 | ) |  | 422 |
Other | 3 |  |  | — |  |  | 3 |  |  | 3 |  |  | — |  |  | 3 |
| 1,018 |  |  | (5 | ) |  | 1,013 |  |  | 1,018 |  |  | (5 | ) |  | 1,013 |
Direct Subordinated Obligations of AFG: |  |  |  |  |  |  |  |  |  |  |
5.125% Subordinate Debentures due December 2059 | 200 |  |  | (6 | ) |  | 194 |  |  | 200 |  |  | (6 | ) |  | 194 |
6% Subordinated Debentures due November 2055 | 150 |  |  | (5 | ) |  | 145 |  |  | 150 |  |  | (5 | ) |  | 145 |
5.875% Subordinated Debentures due March 2059 | 125 |  |  | (4 | ) |  | 121 |  |  | 125 |  |  | (4 | ) |  | 121 |
| 475 |  |  | (15 | ) |  | 460 |  |  | 475 |  |  | (15 | ) |  | 460 |
| $ | 1,493 |  |  | $ | (20 | ) |  | $ | 1,473 |  |  | $ | 1,493 |  |  | $ | (20 | ) |  | $ | 1,473 |
AFG has no scheduled principal payments on its long-term debt for the balance of 2020 or in the subsequent five years. AFG can borrow up to $500 million under its revolving credit facility, which expires in June 2021. Amounts borrowed under this agreement bear interest at rates ranging from 1.00% to 1.875% (currently 1.375%) over LIBOR based on AFG’s credit rating. No amounts were borrowed under this facility at March 31, 2020 or December 31, 2019.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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