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Goodwill and Other Intangibles | 12 Months Ended
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Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangibles | Goodwill and Other Intangibles Changes in the carrying value of goodwill during 2019, 2020 and 2021 are presented in the following table (in millions):
Balance at January 1, 2019 and December 31, 2019 and 2020 | $ | 176 |
Purchase of Verikai | 70 |
Balance at December 31, 2021 | $ | 246 |
Included in other assets in AFG’s Balance Sheet is $106 million at December 31, 2021 and $34 million at December 31, 2020 of amortizable intangible assets related to acquisitions. These amounts are net of accumulated amortization of $67 million and $62 million, respectively. Amortization of intangibles was $6 million in 2021, $12 million in 2020 and $11 million in 2019. The increase in amortizable intangible assets relates primarily to developed technology obtained in the purchase of Verikai in December 2021 (see Note C — “Acquisitions and Sale of Businesses”). Future amortization of intangibles (weighted average amortization period of 9 years is estimated to be $13 million per year in 2022, 2023, 2024, 2025 and 2026 and $41 million thereafter.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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