Income Taxes (Tables)

6 Months Ended

Jun. 30, 2015

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 (dollars in millions):

	Three months ended June 30,										Six months ended June 30,
	2015					2014					2015					2014
	Amount			% of EBT		Amount			% of EBT		Amount			% of EBT		Amount			% of EBT
Earnings before income taxes (“EBT”)	$	226				$	130				$	256				$	291
Income taxes at statutory rate	$	80		35	%	$	46		35	%	$	90		35	%	$	102		35	%
Effect of:
Tax exempt interest	(7		)	(3	%)	(7		)	(5	%)	(14		)	(5	%)	(12		)	(4	%)
Change in valuation allowance	1			—	%	2			2	%	—			—	%	3			1	%
Losses of managed investment entities	—			—	%	6			5	%	—			—	%	6			2	%
Subsidiaries not in AFG’s tax return	1			—	%	(2		)	(2	%)	2			1	%	(1		)	—	%
Other	2			2	%	2			1	%	4			1	%	3			1	%
Provision for income taxes as shown in the Statement of Earnings	$	77		34	%	$	47		36	%	$	82		32	%	$	101		35	%