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Shareholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2014
Stockholders' Equity Note [Abstract]  
Summary of stock options activity
Data for stock options issued under AFG’s stock incentive plans is presented below:
 
Shares
 
Average
Exercise
Price
 
Average
Remaining
Contractual
Term
 
Aggregate
Intrinsic
Value
(in millions)
Outstanding at January 1, 2014
6,608,614

 
$
32.16

 
 
 
 
Granted
1,047,375

 
$
56.47

 
 
 
 
Exercised
(1,262,313
)
 
$
28.19

 
 
 
 
Forfeited/Cancelled
(9,877
)
 
$
42.22

 
 
 
 
Outstanding at December 31, 2014
6,383,799

 
$
36.92

 
5.8 years
 
$
152

 
 
 
 
 
 
 
 
Options exercisable at December 31, 2014
3,465,644

 
$
30.04

 
4.1 years
 
$
106
Assumptions used in estimating weighted average fair value of options on grant date
 
2014
 
2013
 
2012
Exercise price
$
56.47

 
$
44.01

 
$
38.10

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

 
7.25

 
7.25

Risk-free rate
2.20
%
 
1.36
%
 
1.40
%
 
 
 
 
 
 
Grant date fair value
$
14.66

 
$
15.10

 
$
13.02
Summary of restricted stock awards activity
The restricted Common Stock that AFG has granted generally vests over a three or four year period. Data relating to grants of restricted stock is presented below:
 
Shares
 
Average
Grant Date
Fair Value
Outstanding at January 1, 2014
552,569

 
$
37.79

Granted
102,330

 
$
56.44

Vested
(139,449
)
 
$
31.05

Outstanding at December 31, 2014
515,450

 
$
43.32
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
 
Other (c)
 
AOCI
Ending
Balance
Year ended December 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unrealized gains on securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized holding gains (losses) on securities arising during the period
 
 
$
334

 
$
(118
)
 
$
216

 
$
(4
)
 
$
212

 
 
 
 
Reclassification adjustment for realized (gains) losses included in net earnings (a)
 
 
(52
)
 
19

 
(33
)
 
1

 
(32
)
 
 
 
 
Total net unrealized gains on securities (b)
$
563

 
282

 
(99
)
 
183

 
(3
)
 
180

 
$
—

 
$
743

Foreign currency translation adjustments
1

 
(9
)
 
—

 
(9
)
 
—

 
(9
)
 
—

 
(8
)
Pension and other postretirement plans adjustments
(4
)
 
(6
)
 
2

 
(4
)
 
—

 
(4
)
 
—

 
(8
)
Total
$
560

 
$
267

 
$
(97
)
 
$
170

 
$
(3
)
 
$
167

 
$
—

 
$
727

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year ended December 31, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unrealized gains on securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized holding gains (losses) on securities arising during the period
 
 
$
(188
)
 
$
66

 
$
(122
)
 
$
4

 
$
(118
)
 
 
 
 
Reclassification adjustment for realized (gains) losses included in net earnings (a)
 
 
(222
)
 
78

 
(144
)
 
2

 
(142
)
 
 
 
 
Total net unrealized gains on securities (b)
$
823

 
(410
)
 
144

 
(266
)
 
6

 
(260
)
 
$
—

 
$
563

Foreign currency translation adjustments
14

 
(13
)
 
—

 
(13
)
 
—

 
(13
)
 
—

 
1

Pension and other postretirement plans adjustments
(6
)
 
3

 
(1
)
 
2

 
—

 
2

 
—

 
(4
)
Total
$
831

 
$
(420
)
 
$
143

 
$
(277
)
 
$
6

 
$
(271
)
 
$
—

 
$
560

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year ended December 31, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unrealized gains on securities (b)
$
578

 
$
388

 
$
(136
)
 
$
252

 
$
(7
)
 
$
245

 
$
—

 
$
823

Foreign currency translation adjustments
10

 
6

 
—

 
6

 
(1
)
 
5

 
(1
)
 
14

Pension and other postretirement plans adjustments
(8
)
 
2

 
—

 
2

 
—

 
2

 
—

 
(6
)
Total
$
580

 
$
396

 
$
(136
)
 
$
260

 
$
(8
)
 
$
252

 
$
(1
)
 
$
831

 

(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 $58 million at December 31, 2014 compared to net unrealized gains of $54 million and $33 million at December 31, 2013 and 2012, related to securities for which only the credit portion of an other-than-temporary impairment has been recorded in earnings.

(c)
Other relates to the 2012 acquisition of noncontrolling interest in a subsidiary.