Quarterly Operating Results (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Schedule of quarterly operating results

The following are quarterly results of consolidated operations for the two years ended December 31, 2014 (in millions, except per share amounts). Quarterly earnings per share do not add to year-to-date amounts due to changes in shares outstanding.

	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter		Total Year
2014
Revenues	$	1,211	$	1,392	$	1,581	$	1,529	$	5,713
Net earnings, including noncontrolling interests	107		83		91		125		406
Net earnings attributable to shareholders	103		106		116		127		452
Earnings attributable to shareholders per Common Share:
Basic	$	1.15	$	1.18	$	1.30	$	1.44	$	5.07
Diluted	1.13		1.15		1.28		1.41		4.97
Average number of Common Shares:
Basic	89.6		89.6		89.0		87.9		89.0
Diluted	91.6		91.6		90.9		89.8		91.0
2013
Revenues	$	1,148	$	1,139	$	1,443	$	1,362	$	5,092
Net earnings, including noncontrolling interests	113		77		98		165		453
Net earnings attributable to shareholders	120		110		83		158		471
Earnings attributable to shareholders per Common Share:
Basic	$	1.34	$	1.23	$	0.94	$	1.77	$	5.27
Diluted	1.32		1.20		0.92		1.73		5.16
Average number of Common Shares:
Basic	89.4		89.6		89.1		89.4		89.3
Diluted	91.0		91.5		91.0		91.4		91.2

Quarterly information on realized gains (losses) and favorable (unfavorable) development on unpaid loss and loss adjustment expenses

Pretax realized gains on subsidiaries and securities (including other-than-temporary impairments) and favorable (adverse) prior year development of AFG’s liability for losses and loss adjustment expenses (“LAE”) were as follows (in millions):

	1st Quarter		2nd Quarter			3rd Quarter			4th Quarter			Total Year
Realized Gains
2014	$	19	$	12		$	13		$	8		$	52
2013	57		41			56			63			217
Prior Year Development Favorable (Adverse)
2014	$	31	$	(14	)	$	(13	)	$	(10	)	$	(6	)
2013	28		22			(40		)	5			15