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Shareholders' Equity (Tables) | 6 Months Ended
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Jun. 30, 2022
Stockholders' Equity Note [Abstract] |
Components of accumulated other comprehensive income (loss) | The progression of the components of accumulated other comprehensive income (loss) follows (in millions):
|  |  | Other Comprehensive Income (Loss) |  |  |  |
| AOCI Beginning Balance |  | Pretax |  | Tax |  | Net of tax |  |  |  |  |  |  |  | AOCI Ending Balance
Quarter ended June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains (losses) on securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding losses on securities arising during the period |  |  | $ | (286) |  |  | $ | 61 |  |  | $ | (225) |  |  |  |  |  |  |  |  |
Reclassification adjustment for realized (gains) losses included in net earnings (*) |  |  | 11 |  |  | (3) |  |  | 8 |  |  |  |  |  |  |  |  |
Total net unrealized losses on securities | $ | (109) |  |  | (275) |  |  | 58 |  |  | (217) |  |  |  |  |  |  |  |  | $ | (326) |
Total net unrealized losses on cash flow hedges | (4) |  |  | (5) |  |  | 1 |  |  | (4) |  |  |  |  |  |  |  |  | (8) |
Foreign currency translation adjustments | (19) |  |  | 5 |  |  | (1) |  |  | 4 |  |  |  |  |  |  |  |  | (15) |
Pension and other postretirement plans adjustments (“OPRP”) | 1 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | 1 |
Total | $ | (131) |  |  | $ | (275) |  |  | $ | 58 |  |  | $ | (217) |  |  |  |  |  |  |  |  | $ | (348) |
Quarter ended June 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains (losses) on securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) on securities arising during the period |  |  | $ | 168 |  |  | $ | (35) |  |  | $ | 133 |  |  |  |  |  |  |  |  |
Reclassification adjustment for realized (gains) losses included in net earnings (*) |  |  | (9) |  |  | 2 |  |  | (7) |  |  |  |  |  |  |  |  |
Reclassification for unrealized gains on securities of subsidiaries sold |  |  | (1,119) |  |  | 235 |  |  | (884) |  |  |  |  |  |  |  |  |
Total net unrealized gains (losses) on securities | $ | 963 |  |  | (960) |  |  | 202 |  |  | (758) |  |  |  |  |  |  |  |  | $ | 205 |
Net unrealized gains (losses) on cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains on cash flow hedges arising during the period |  |  | 7 |  |  | (1) |  |  | 6 |  |  |  |  |  |  |  |  |
Reclassification adjustment for investment income included in net earnings from discontinued operations |  |  | (5) |  |  | 1 |  |  | (4) |  |  |  |  |  |  |  |  |
Reclassification for unrealized gains on cash flow hedges of subsidiaries sold |  |  | (37) |  |  | 8 |  |  | (29) |  |  |  |  |  |  |  |  |
Total net unrealized gains (losses) on cash flow hedges | 27 |  |  | (35) |  |  | 8 |  |  | (27) |  |  |  |  |  |  |  |  | — |
Foreign currency translation adjustments | (16) |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | (16) |
Pension and OPRP adjustments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding losses on pension and OPRP arising during the period |  |  | (1) |  |  | — |  |  | (1) |  |  |  |  |  |  |  |  |
Reclassification adjustment for pension settlement loss included in other expense in net earnings |  |  | 11 |  |  | (2) |  |  | 9 |  |  |  |  |  |  |  |  |
Total pension and OPRP adjustments | (7) |  |  | 10 |  |  | (2) |  |  | 8 |  |  |  |  |  |  |  |  | 1 |
Total | $ | 967 |  |  | $ | (985) |  |  | $ | 208 |  |  | $ | (777) |  |  |  |  |  |  |  |  | $ | 190 |
|  |  | Other Comprehensive Income (Loss) |  |  |  |
| AOCI Beginning Balance |  | Pretax |  | Tax |  | Net of tax |  |  |  |  |  |  |  | AOCI Ending Balance
Six months ended June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains (losses) on securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) on securities arising during the period |  |  | $ | (599) |  |  | $ | 127 |  |  | $ | (472) |  |  |  |  |  |  |  |  |
Reclassification adjustment for realized losses included in net earnings (*) |  |  | 13 |  |  | (3) |  |  | 10 |  |  |  |  |  |  |  |  |
Total net unrealized gains (losses) on securities | $ | 136 |  |  | (586) |  |  | 124 |  |  | (462) |  |  |  |  |  |  |  |  | $ | (326) |
Net unrealized losses on cash flow hedges | — |  |  | (10) |  |  | 2 |  |  | (8) |  |  |  |  |  |  |  |  | (8) |
Foreign currency translation adjustments | (18) |  |  | 3 |  |  | — |  |  | 3 |  |  |  |  |  |  |  |  | (15) |
Pension and other postretirement plan adjustments | 1 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | 1 |
Total | $ | 119 |  |  | $ | (593) |  |  | $ | 126 |  |  | $ | (467) |  |  |  |  |  |  |  |  | $ | (348) |
Six months ended June 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains (losses) on securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains on securities arising during the period |  |  | $ | (187) |  |  | $ | 39 |  |  | $ | (148) |  |  |  |  |  |  |  |  |
Reclassification adjustment for realized (gains) losses included in net earnings (*) |  |  | (23) |  |  | 5 |  |  | (18) |  |  |  |  |  |  |  |  |
Reclassification for unrealized gains on securities of subsidiaries sold |  |  | (1,119) |  |  | 235 |  |  | (884) |  |  |  |  |  |  |  |  |
Total net unrealized gains (losses) on securities | $ | 1,255 |  |  | (1,329) |  |  | 279 |  |  | (1,050) |  |  |  |  |  |  |  |  | $ | 205 |
Net unrealized gains (losses) on cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding losses on cash flow hedges arising during the period |  |  | (1) |  |  | — |  |  | (1) |  |  |  |  |  |  |  |  |
Reclassification adjustment for investment income included in net earnings from discontinued operations |  |  | (14) |  |  | 3 |  |  | (11) |  |  |  |  |  |  |  |  |
Reclassification for unrealized gains on cash flow hedges of subsidiaries sold |  |  | (37) |  |  | 8 |  |  | (29) |  |  |  |  |  |  |  |  |
Total net unrealized gains (losses) on cash flow hedges | 41 |  |  | (52) |  |  | 11 |  |  | (41) |  |  |  |  |  |  |  |  | — |
Foreign currency translation adjustments | (16) |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | (16) |
Pension and OPRP adjustments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding losses on pension and OPRP arising during the period |  |  | (1) |  |  | — |  |  | (1) |  |  |  |  |  |  |  |  |
Reclassification adjustment for pension settlement loss included in other expense in net earnings |  |  | 11 |  |  | (2) |  |  | 9 |  |  |  |  |  |  |  |  |
Total pension and OPRP adjustments | (7) |  |  | 10 |  |  | (2) |  |  | 8 |  |  |  |  |  |  |  |  | 1 |
Total | $ | 1,273 |  |  | $ | (1,371) |  |  | $ | 288 |  |  | $ | (1,083) |  |  |  |  |  |  |  |  | $ | 190 |
(*)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 |

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- 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 https://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 https://asc.fasb.org/extlink&oid=126968391&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 https://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900 + Details
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- References No definition available. + Details
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