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Shareholders' Equity (Tables) | 9 Months Ended
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Sep. 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 September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains (losses) on securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) on securities arising during the period |  |  | $ | (81) |  |  | $ | 17 |  |  | $ | (64) |  |  |  |  |  |  |  |  |
Reclassification adjustment for realized (gains) losses included in net earnings (*) |  |  | 9 |  |  | (2) |  |  | 7 |  |  |  |  |  |  |  |  |
Total net unrealized gains (losses) on securities | $ | (464) |  |  | (72) |  |  | 15 |  |  | (57) |  |  |  |  |  |  |  |  | $ | (521) |
Net unrealized gains (losses) on cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) on cash flow hedges arising during the period |  |  | (9) |  |  | 2 |  |  | (7) |  |  |  |  |  |  |  |  |
Reclassification adjustment for investment income included in net earnings (*) |  |  | 8 |  |  | (2) |  |  | 6 |  |  |  |  |  |  |  |  |
Total net unrealized gains (losses) on cash flow hedges | (33) |  |  | (1) |  |  | — |  |  | (1) |  |  |  |  |  |  |  |  | (34) |
Foreign currency translation adjustments | (17) |  |  | — |  |  | (1) |  |  | (1) |  |  |  |  |  |  |  |  | (18) |
Pension and other postretirement plan adjustments | 3 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | 3 |
Total | $ | (511) |  |  | $ | (73) |  |  | $ | 14 |  |  | $ | (59) |  |  |  |  |  |  |  |  | $ | (570) |
Quarter ended September 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains (losses) on securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) on securities arising during the period |  |  | $ | (292) |  |  | $ | 61 |  |  | $ | (231) |  |  |  |  |  |  |  |  |
Reclassification adjustment for realized (gains) losses included in net earnings (*) |  |  | 4 |  |  | (1) |  |  | 3 |  |  |  |  |  |  |  |  |
Total net unrealized gains (losses) on securities | $ | (326) |  |  | (288) |  |  | 60 |  |  | (228) |  |  |  |  |  |  |  |  | $ | (554) |
Net unrealized gains (losses) on cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) on cash flow hedges arising during the period |  |  | (26) |  |  | 5 |  |  | (21) |  |  |  |  |  |  |  |  |
Reclassification adjustment for investment income included in net earnings (*) |  |  | (1) |  |  | 1 |  |  | — |  |  |  |  |  |  |  |  |
Total net unrealized gains (losses) on cash flow hedges | (8) |  |  | (27) |  |  | 6 |  |  | (21) |  |  |  |  |  |  |  |  | (29) |
Foreign currency translation adjustments | (15) |  |  | (4) |  |  | (1) |  |  | (5) |  |  |  |  |  |  |  |  | (20) |
Pension and other postretirement plan adjustments | 1 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | 1 |
Total | $ | (348) |  |  | $ | (319) |  |  | $ | 65 |  |  | $ | (254) |  |  |  |  |  |  |  |  | $ | (602) |
|  |  | Other Comprehensive Income (Loss) |  |  |  |
| AOCI Beginning Balance |  | Pretax |  | Tax |  | Net of tax |  |  |  |  |  |  |  | AOCI Ending Balance
Nine months ended September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains (losses) on securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) on securities arising during the period |  |  | $ | (69) |  |  | $ | 14 |  |  | $ | (55) |  |  |  |  |  |  |  |  |
Reclassification adjustment for realized (gains) losses included in net earnings (*) |  |  | 40 |  |  | (9) |  |  | 31 |  |  |  |  |  |  |  |  |
Total net unrealized gains (losses) on securities | $ | (497) |  |  | (29) |  |  | 5 |  |  | (24) |  |  |  |  |  |  |  |  | $ | (521) |
Net unrealized gains (losses) on cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) on cash flow hedges arising during the period |  |  | (25) |  |  | 5 |  |  | (20) |  |  |  |  |  |  |  |  |
Reclassification adjustment for investment income included in net earnings (*) |  |  | 19 |  |  | (4) |  |  | 15 |  |  |  |  |  |  |  |  |
Total net unrealized gains (losses) on cash flow hedges | (29) |  |  | (6) |  |  | 1 |  |  | (5) |  |  |  |  |  |  |  |  | (34) |
Foreign currency translation adjustments | (20) |  |  | 2 |  |  | — |  |  | 2 |  |  |  |  |  |  |  |  | (18) |
Pension and other postretirement plan adjustments | 3 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | 3 |
Total | $ | (543) |  |  | $ | (33) |  |  | $ | 6 |  |  | $ | (27) |  |  |  |  |  |  |  |  | $ | (570) |
Nine months ended September 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains (losses) on securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) on securities arising during the period |  |  | $ | (884) |  |  | $ | 186 |  |  | $ | (698) |  |  |  |  |  |  |  |  |
Reclassification adjustment for realized (gains) losses included in net earnings (*) |  |  | 10 |  |  | (2) |  |  | 8 |  |  |  |  |  |  |  |  |
Total net unrealized gains (losses) on securities | $ | 136 |  |  | (874) |  |  | 184 |  |  | (690) |  |  |  |  |  |  |  |  | $ | (554) |
Net unrealized gains (losses) on cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) on cash flow hedges arising during the period |  |  | (34) |  |  | 7 |  |  | (27) |  |  |  |  |  |  |  |  |
Reclassification adjustment for investment income included in net earnings (*) |  |  | (3) |  |  | 1 |  |  | (2) |  |  |  |  |  |  |  |  |
Total net unrealized gains (losses) on cash flow hedges | — |  |  | (37) |  |  | 8 |  |  | (29) |  |  |  |  |  |  |  |  | (29) |
Foreign currency translation adjustments | (18) |  |  | (1) |  |  | (1) |  |  | (2) |  |  |  |  |  |  |  |  | (20) |
Pension and other postretirement plan adjustments | 1 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | 1 |
Total | $ | 119 |  |  | $ | (912) |  |  | $ | 191 |  |  | $ | (721) |  |  |  |  |  |  |  |  | $ | (602) |
(*)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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