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v3.25.3

Income Taxes (Tables) | 9 Months Ended
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Sep. 30, 2025
Income Tax Disclosure [Abstract] |
Reconciliation of income taxes at the statutory rate and income taxes shown in the Statement of Earnings | The following is a reconciliation of income taxes at the statutory rate of 21% to the provision for income taxes as shown in AFG’s Statement of Earnings (dollars in millions):
| Three months ended September 30, |  | Nine months ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| Amount |  | % of EBT |  | Amount |  | % of EBT |  | Amount |  | % of EBT |  | Amount |  | % of EBT
Earnings before income taxes (“EBT”) | $ | 268 |  |  |  |  | $ | 229 |  |  |  |  | $ | 694 |  |  |  |  | $ | 804 |  |  |
Income taxes at statutory rate | $ | 57 |  |  | 21 | % |  | $ | 48 |  |  | 21 | % |  | $ | 146 |  |  | 21 | % |  | $ | 169 |  |  | 21 | %
Effect of: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Change in valuation allowance | (6) |  |  | (2 | %) |  | (2) |  |  | (1 | %) |  | (6) |  |  | (1 | %) |  | (2) |  |  | — | %
Adjustment to prior year taxes | (5) |  |  | (2 | %) |  | 1 |  |  | — | % |  | (5) |  |  | (1 | %) |  | 1 |  |  | — | %
Tax exempt interest | (1) |  |  | — | % |  | (1) |  |  | — | % |  | (3) |  |  | — | % |  | (3) |  |  | (1 | %)
Employee stock ownership plan dividend paid deduction | — |  |  | — | % |  | (1) |  |  | — | % |  | (2) |  |  | — | % |  | (3) |  |  | (1 | %)
Dividends received deduction | (1) |  |  | — | % |  | — |  |  | — | % |  | (2) |  |  | — | % |  | (1) |  |  | — | %
Stock-based compensation | — |  |  | — | % |  | — |  |  | — | % |  | (1) |  |  | — | % |  | (2) |  |  | — | %
Nondeductible expenses | 3 |  |  | 1 | % |  | 2 |  |  | 1 | % |  | 9 |  |  | 1 | % |  | 6 |  |  | 1 | %
Adjustment related to sale of subsidiary | — |  |  | — | % |  | — |  |  | — | % |  | 7 |  |  | 1 | % |  | 4 |  |  | 1 | %
Foreign operations | 1 |  |  | — | % |  | 1 |  |  | — | % |  | 4 |  |  | 1 | % |  | 1 |  |  | — | %
Other | 5 |  |  | 2 | % |  | — |  |  | — | % |  | 4 |  |  | — | % |  | 2 |  |  | — | %
Provision for income taxes as shown in the statement of earnings | $ | 53 |  |  | 20 | % |  | $ | 48 |  |  | 21 | % |  | $ | 151 |  |  | 22 | % |  | $ | 172 |  |  | 21 | %

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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
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