Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2025

Long-term debt consisted of the following (in millions):


	September 30, 2025						December 31, 2024
	Principal		Discount and Issue Costs		Carrying Value		Principal		Discount and Issue Costs		Carrying Value
Direct Senior Obligations of AFG:
4.50% Senior Notes due June 2047	$	567	$	(1)	$	566	$	567	$	(1)	$	566
5.00% Senior Notes due September 2035	350		(6)		344		—		—		—
5.25% Senior Notes due April 2030	253		(3)		250		253		(4)		249
Other	3		—		3		3		—		3
	1,173		(10)		1,163		823		(5)		818

Direct Subordinated Obligations of AFG:
4.50% Subordinated Debentures due September 2060	200		(5)		195		200		(5)		195
5.125% Subordinated Debentures due December 2059	200		(5)		195		200		(5)		195
5.625% Subordinated Debentures due June 2060	150		(4)		146		150		(4)		146
5.875% Subordinated Debentures due March 2059	125		(4)		121		125		(4)		121
	675		(18)		657		675		(18)		657
	$	1,848	$	(28)	$	1,820	$	1,498	$	(23)	$	1,475

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details