Income Taxes (Tables)

9 Months Ended

Sep. 30, 2014

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 35% to the provision for income taxes as shown in the Statement of Earnings (in millions):

	Three months ended September 30,										Nine months ended September 30,
	2014					2013					2014					2013
	Amount			% of EBT		Amount			% of EBT		Amount			% of EBT		Amount			% of EBT
Earnings before income taxes (“EBT”)	$	145				$	142				$	436				$	443
Income taxes at statutory rate	$	51		35	%	$	50		35	%	$	153		35	%	$	155		35	%
Effect of:
Tax exempt interest	(6		)	(4	%)	(5		)	(3	%)	(18		)	(4	%)	(16		)	(4	%)
Losses of managed investment entities	10			7	%	(4		)	(3	%)	16			4	%	11			3	%
Subsidiaries not in AFG’s tax return	1			1	%	1			1	%	—			—	%	1			—	%
Other	(2		)	(2	%)	2			1	%	4			1	%	4			1	%
Provision for income taxes as shown in the Statement of Earnings	$	54		37	%	$	44		31	%	$	155		36	%	$	155		35	%