XML 39 R30.htm IDEA: XBRL DOCUMENT v2.4.0.8
Shareholders' Equity (Tables)
 6 Months Ended
Jun. 30, 2014
Stockholders' Equity Note [Abstract]  
Components of accumulated other comprehensive income (loss)
The progression of the components of accumulated other comprehensive income follows (in millions): 

  
 
 
Other Comprehensive Income
 
 
 
  
AOCI
Beginning
Balance
 
Pretax
 
Tax
 
Net
of
tax
 
Attributable to
noncontrolling
interests
 
Attributable to
shareholders
 
AOCI
Ending
Balance
 
Quarter ended June 30, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unrealized gains on securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized holding gains (losses) on securities arising during the period
 
 
$
200

 
$
(70
)
 
$
130

 
$
(3
)
 
$
127

 


 
Reclassification adjustment for realized gains (losses) included in net earnings (a)
 
 
(12
)
 
4

 
(8
)
 
1

 
(7
)
 


 
Total net unrealized gains on securities (b)
$
685

 
188

 
(66
)
 
122

 
(2
)
 
120

 
$
805

 
Foreign currency translation adjustments
(4
)
 
2

 
—

 
2

 
—

 
2

 
(2
)
 
Pension and other postretirement plans adjustments
(4
)
 
—

 
—

 
—

 
—

 
—

 
(4
)
 
Total
$
677

 
$
190

 
$
(66
)
 
$
124

 
$
(2
)
 
$
122

 
$
799

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarter ended June 30, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unrealized gains on securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized holding gains (losses) on securities arising during the period
 
 
$
(378
)
 
$
133

 
$
(245
)
 
$
6

 
$
(239
)
 
 
 
Reclassification adjustment for realized gains (losses) included in net earnings (a)
 
 
(41
)
 
14

 
(27
)
 
1

 
(26
)
 
 
 
Total net unrealized gains on securities
$
865

 
(419
)
 
147

 
(272
)
 
7

 
(265
)
 
$
600

 
Foreign currency translation adjustments
10

 
(5
)
 
—

 
(5
)
 
—

 
(5
)
 
5

 
Pension and other postretirement plans adjustments
(6
)
 
—

 
—

 
—

 
—

 
—

 
(6
)
 
Total
$
869

 
$
(424
)
 
$
147

 
$
(277
)
 
$
7

 
$
(270
)
 
$
599

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Six months ended June 30, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unrealized gains on securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized holding gains (losses) on securities arising during the period
 
 
$
411

 
$
(144
)
 
$
267

 
$
(6
)
 
$
261

 


 
Reclassification adjustment for realized gains (losses) included in net earnings (a)
 
 
(30
)
 
10

 
(20
)
 
1

 
(19
)
 


 
Total net unrealized gains on securities (b)
$
563

 
381

 
(134
)
 
247

 
(5
)
 
242

 
$
805

 
Foreign currency translation adjustments
1

 
(3
)
 
—

 
(3
)
 
—

 
(3
)
 
(2
)
 
Pension and other postretirement plans adjustments
(4
)
 
—

 
—

 
—

 
—

 
—

 
(4
)
 
Total
$
560

 
$
378

 
$
(134
)
 
$
244

 
$
(5
)
 
$
239

 
$
799

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Six months ended June 30, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unrealized gains on securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized holding gains (losses) on securities arising during the period
 
 
$
(256
)
 
$
90

 
$
(166
)
 
$
5

 
$
(161
)
 
 
 
Reclassification adjustment for realized gains (losses) included in net earnings (a)
 
 
(97
)
 
34

 
(63
)
 
1

 
(62
)
 
 
 
Total net unrealized gains on securities
$
823

 
(353
)
 
124

 
(229
)
 
6

 
(223
)
 
$
600

 
Foreign currency translation adjustments
14

 
(9
)
 
—

 
(9
)
 
—

 
(9
)
 
5

 
Pension and other postretirement plans adjustments
(6
)
 
—

 
—

 
—

 
—

 
—

 
(6
)
 
Total
$
831

 
$
(362
)
 
$
124

 
$
(238
)
 
$
6

 
$
(232
)
 
$
599

 
 
(a)
The reclassification adjustment out of net unrealized gains on securities affected the following lines in AFG’s Consolidated Statement of Earnings:
 
OCI component
 
Affected line in the Consolidated Statement of Earnings
 
 
Pretax
 
Realized gains on securities
 
 
Tax
 
Provision for income taxes
 
 
Attributable to noncontrolling interests
 
Net earnings (loss) attributable to noncontrolling interests
 


(b)
Includes net unrealized gains of $60 million at June 30, 2014, $58 million at March 31, 2014 and $54 million at December 31, 2013 related to securities for which only the credit portion of an other-than-temporary impairment has been recorded in earnings.
Assumptions used in estimating weighted average fair value of options on grant date
 
Six months ended June 30,
 
2014
 
2013
Exercise price
$
56.47

 
$
44.01

Expected dividend yield
1.6
%
 
1.8
%
Expected volatility
26
%
 
39
%
Expected term (in years)
7.25

 
7.25

Risk-free rate
2.20
%
 
1.36
%
 
 
 
 
Grant date fair value
$
14.66

 
$
15.10