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Shareholders' Equity (Tables) | 6 Months Ended
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Jun. 30, 2023
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, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains (losses) on securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) on securities arising during the period |  |  | $ | (66) |  |  | $ | 14 |  |  | $ | (52) |  |  |  |  |  |  |  |  |
Reclassification adjustment for realized (gains) losses included in net earnings (*) |  |  | 2 |  |  | (1) |  |  | 1 |  |  |  |  |  |  |  |  |
Total net unrealized gains (losses) on securities | $ | (413) |  |  | (64) |  |  | 13 |  |  | (51) |  |  |  |  |  |  |  |  | $ | (464) |
Net unrealized gains (losses) on cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) on cash flow hedges arising during the period |  |  | $ | (21) |  |  | $ | 4 |  |  | $ | (17) |  |  |  |  |  |  |  |  |
Reclassification adjustment for investment income included in net earnings (*) |  |  | 6 |  |  | (1) |  |  | 5 |  |  |  |  |  |  |  |  |
Total net unrealized gains (losses) on cash flow hedges | (21) |  |  | (15) |  |  | 3 |  |  | (12) |  |  |  |  |  |  |  |  | (33) |
Foreign currency translation adjustments | (20) |  |  | 2 |  |  | 1 |  |  | 3 |  |  |  |  |  |  |  |  | (17) |
Pension and other postretirement plan adjustments | 3 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | 3 |
Total | $ | (451) |  |  | $ | (77) |  |  | $ | 17 |  |  | $ | (60) |  |  |  |  |  |  |  |  | $ | (511) |
Quarter ended June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains (losses) on securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (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 gains (losses) on securities | $ | (109) |  |  | (275) |  |  | 58 |  |  | (217) |  |  |  |  |  |  |  |  | $ | (326) |
Net unrealized gains (losses) on cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) on cash flow hedges arising during the period |  |  | (3) |  |  | 1 |  |  | (2) |  |  |  |  |  |  |  |  |
Reclassification adjustment for investment income included in net earnings (*) |  |  | (2) |  |  | — |  |  | (2) |  |  |  |  |  |  |  |  |
Total net unrealized gains (losses) on cash flow hedges | (4) |  |  | (5) |  |  | 1 |  |  | (4) |  |  |  |  |  |  |  |  | (8) |
Foreign currency translation adjustments | (19) |  |  | 5 |  |  | (1) |  |  | 4 |  |  |  |  |  |  |  |  | (15) |
Pension and other postretirement plan adjustments | 1 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | 1 |
Total | $ | (131) |  |  | $ | (275) |  |  | $ | 58 |  |  | $ | (217) |  |  |  |  |  |  |  |  | $ | (348) |
|  |  | Other Comprehensive Income (Loss) |  |  |  |
| AOCI Beginning Balance |  | Pretax |  | Tax |  | Net of tax |  |  |  |  |  |  |  | AOCI Ending Balance
Six months ended June 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains (losses) on securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) on securities arising during the period |  |  | $ | 12 |  |  | $ | (3) |  |  | $ | 9 |  |  |  |  |  |  |  |  |
Reclassification adjustment for realized (gains) losses included in net earnings (*) |  |  | 31 |  |  | (7) |  |  | 24 |  |  |  |  |  |  |  |  |
Total net unrealized gains (losses) on securities | $ | (497) |  |  | 43 |  |  | (10) |  |  | 33 |  |  |  |  |  |  |  |  | $ | (464) |
Net unrealized gains (losses) on cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) on cash flow hedges arising during the period |  |  | (16) |  |  | 3 |  |  | (13) |  |  |  |  |  |  |  |  |
Reclassification adjustment for investment income included in net earnings (*) |  |  | 11 |  |  | (2) |  |  | 9 |  |  |  |  |  |  |  |  |
Total net unrealized gains (losses) on cash flow hedges | (29) |  |  | (5) |  |  | 1 |  |  | (4) |  |  |  |  |  |  |  |  | (33) |
Foreign currency translation adjustments | (20) |  |  | 2 |  |  | 1 |  |  | 3 |  |  |  |  |  |  |  |  | (17) |
Pension and other postretirement plan adjustments | 3 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | 3 |
Total | $ | (543) |  |  | $ | 40 |  |  | $ | (8) |  |  | $ | 32 |  |  |  |  |  |  |  |  | $ | (511) |
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 (gains) losses included in net earnings (*) |  |  | 13 |  |  | (3) |  |  | 10 |  |  |  |  |  |  |  |  |
Total net unrealized gains (losses) on securities | $ | 136 |  |  | (586) |  |  | 124 |  |  | (462) |  |  |  |  |  |  |  |  | $ | (326) |
Net unrealized gains (losses) on cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) on cash flow hedges arising during the period |  |  | (8) |  |  | 2 |  |  | (6) |  |  |  |  |  |  |  |  |
Reclassification adjustment for investment income included in net earnings (*) |  |  | (2) |  |  | — |  |  | (2) |  |  |  |  |  |  |  |  |
Total net unrealized gains (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) |
(*)The reclassification adjustments affected the following lines in AFG’s Statement of Earnings:
| OCI component |  | Affected line in the statement of earnings |
| Pretax - Net unrealized gains (losses) on securities |  | Realized gains (losses) on securities |
| Pretax - Net unrealized gains (losses) on cash flow hedges |  | Net investment income |
| 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://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-14A Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481674/830-30-50-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481694/830-30-45-20 + Details
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- References No definition available. + Details
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