XML 59 R37.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Shareholders' Equity (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Stockholders' Equity Note [Abstract] |
Summary of restricted stock awards | The restricted Common Stock that AFG has granted generally vests over a four-year period. Data relating to grants of restricted stock is presented below:
| Shares |  | Average Grant Date Fair Value
Outstanding at January 1, 2021 | 818,233 |  |  | $ | 101.65 |
Granted | 207,020 |  |  | $ | 111.13 |
Vested | (252,654) |  |  | $ | 95.69 |
Forfeited | (120,753) |  |  | $ | 103.70 |
Outstanding at December 31, 2021 | 651,846 |  |  | $ | 106.59 |
Summary of stock options activity | Data for stock options issued under AFG’s stock incentive plans is presented below:
| Shares |  | Average Exercise Price |  | Average Remaining Contractual Term |  | Aggregate Intrinsic Value (in millions)
Outstanding at January 1, 2021 | 1,589,094 |  |  | $ | 52.43 |  |  |  |  |
Exercised | (1,208,964) |  |  | $ | 48.93 |  |  |  |  |
Special dividend adjustment | 36,169 |  |  | n/a |  |  |  |
Forfeited/Cancelled | (1,554) |  |  | $ | 58.36 |  |  |  |  |
Outstanding at December 31, 2021 | 414,745 |  |  | $ | 46.04 |  |  | 2.1 years |  | $ | 38 |
Options exercisable at December 31, 2021 | 414,745 |  |  | $ | 46.04 |  |  | 2.1 years |  | $ | 38 |
Components of accumulated other comprehensive income (loss) | The progression of the components of accumulated other comprehensive income follows (in millions):
|  |  | Other Comprehensive Income (Loss) |  |  |  |
| AOCI Beginning Balance |  | Pretax |  | Tax |  | Net of tax |  | Attributable to noncontrolling interests |  | Attributable to shareholders |  | Other |  | AOCI Ending Balance
Year ended December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains (losses) on securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding losses on securities arising during the period |  |  | $ | (275) |  |  | $ | 57 |  |  | $ | (218) |  |  | $ | — |  |  | $ | (218) |  |  |  |  |
Reclassification adjustment for realized (gains) losses included in net earnings (*) |  |  | (22) |  |  | 5 |  |  | (17) |  |  | — |  |  | (17) |  |  |  |  |
Reclassification for unrealized gains of subsidiaries sold |  |  | (1,119) |  |  | 235 |  |  | (884) |  |  | — |  |  | (884) |  |  |  |  |
Total net unrealized gains (losses) on securities | $ | 1,255 |  |  | (1,416) |  |  | 297 |  |  | (1,119) |  |  | — |  |  | (1,119) |  |  | $ | — |  |  | $ | 136 |
Net unrealized gains (losses) on cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding losses on cash flow hedges arising during the period |  |  | (1) |  |  | — |  |  | (1) |  |  | — |  |  | (1) |  |  |  |  |
Reclassification adjustment for investment income included in net earnings from discontinued operations |  |  | (14) |  |  | 3 |  |  | (11) |  |  | — |  |  | (11) |  |  |  |  |
Reclassification for unrealized gains on cash flow hedges of subsidiaries sold |  |  | (37) |  |  | 8 |  |  | (29) |  |  | — |  |  | (29) |  |  |  |  |
Total net unrealized gains (losses) on cash flow hedges | 41 |  |  | (52) |  |  | 11 |  |  | (41) |  |  | — |  |  | (41) |  |  | — |  |  | — |
Foreign currency translation adjustments | (16) |  |  | (2) |  |  | — |  |  | (2) |  |  | — |  |  | (2) |  |  | — |  |  | (18) |
Pension and OPRP adjustments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding losses on pension and OPRP arising during the period |  |  | (1) |  |  | — |  |  | (1) |  |  | — |  |  | (1) |  |  |  |  |
Reclassification adjustment for pension settlement loss included in other expense in net earnings |  |  | 11 |  |  | (2) |  |  | 9 |  |  | — |  |  | 9 |  |  |  |  |
Total pension and OPRP adjustments | (7) |  |  | 10 |  |  | (2) |  |  | 8 |  |  | — |  |  | 8 |  |  | — |  |  | 1 |
Total | $ | 1,273 |  |  | $ | (1,460) |  |  | $ | 306 |  |  | $ | (1,154) |  |  | $ | — |  |  | $ | (1,154) |  |  | $ | — |  |  | $ | 119 |
|  |  | Other Comprehensive Income (Loss) |  |  |  |
| AOCI Beginning Balance |  | Pretax |  | Tax |  | Net of tax |  | Attributable to noncontrolling interests |  | Attributable to shareholders |  | Other |  | AOCI Ending Balance
Year ended December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains on securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains on securities arising during the period |  |  | $ | 887 |  |  | $ | (187) |  |  | $ | 700 |  |  | $ | — |  |  | $ | 700 |  |  |  |  |
Reclassification adjustment for realized (gains) losses included in net earnings (*) |  |  | (389) |  |  | 82 |  |  | (307) |  |  | — |  |  | (307) |  |  |  |  |
Total net unrealized gains on securities | $ | 862 |  |  | 498 |  |  | (105) |  |  | 393 |  |  | — |  |  | 393 |  |  | $ | — |  |  | $ | 1,255 |
Net unrealized gains on cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains on cash flow hedges arising during the period |  |  | $ | 70 |  |  | $ | (14) |  |  | $ | 56 |  |  | $ | — |  |  | $ | 56 |  |  |  |  |
Reclassification adjustment for investment income included in net earnings from discontinued operations |  |  | (40) |  |  | 8 |  |  | (32) |  |  | — |  |  | (32) |  |  |  |  |
Total net unrealized gains on cash flow hedges | 17 |  |  | 30 |  |  | (6) |  |  | 24 |  |  | — |  |  | 24 |  |  | — |  |  | 41 |
Foreign currency translation adjustments | (9) |  |  | (1) |  |  | — |  |  | (1) |  |  | (2) |  |  | (3) |  |  | (4) |  |  | (16) |
Pension and other postretirement plans adjustments | (7) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (7) |
Total | $ | 863 |  |  | $ | 527 |  |  | $ | (111) |  |  | $ | 416 |  |  | $ | (2) |  |  | $ | 414 |  |  | $ | (4) |  |  | $ | 1,273 |
Year ended December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains (losses) on securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains on securities arising during the period |  |  | $ | 997 |  |  | $ | (209) |  |  | $ | 788 |  |  | $ | — |  |  | $ | 788 |  |  |  |  |
Reclassification adjustment for realized (gains) losses included in net earnings (*) |  |  | (11) |  |  | 2 |  |  | (9) |  |  | — |  |  | (9) |  |  |  |  |
Total net unrealized gains on securities | $ | 83 |  |  | 986 |  |  | (207) |  |  | 779 |  |  | — |  |  | 779 |  |  | $ | — |  |  | $ | 862 |
Net unrealized gains (losses) on cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains on cash flow hedges arising during the period |  |  | $ | 39 |  |  | $ | (8) |  |  | $ | 31 |  |  | $ | — |  |  | $ | 31 |  |  |  |  |
Reclassification adjustment for investment income included in net earnings from discontinued operations |  |  | (3) |  |  | — |  |  | (3) |  |  | — |  |  | (3) |  |  |  |  |
Total net unrealized gains (losses) on cash flow hedges | (11) |  |  | 36 |  |  | (8) |  |  | 28 |  |  | — |  |  | 28 |  |  | — |  |  | 17 |
Foreign currency translation adjustments | (16) |  |  | 7 |  |  | — |  |  | 7 |  |  | — |  |  | 7 |  |  | — |  |  | (9) |
Pension and other postretirement plans adjustments | (8) |  |  | 1 |  |  | — |  |  | 1 |  |  | — |  |  | 1 |  |  | — |  |  | (7) |
Total | $ | 48 |  |  | $ | 1,030 |  |  | $ | (215) |  |  | $ | 815 |  |  | $ | — |  |  | $ | 815 |  |  | $ | — |  |  | $ | 863 |
(*)The reclassification adjustment out of net unrealized gains (losses) 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 |

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669686-108580 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 45 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
Name: | us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_StockholdersEquityNoteAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration