Income Taxes (Tables)

3 Months Ended

Mar. 31, 2016

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 AFG’s Statement of Earnings (dollars in millions):

	Three months ended March 31,
	2016					2015
	Amount			% of EBT		Amount			% of EBT
Earnings before income taxes (“EBT”)	$	156				$	30
Income taxes at statutory rate	$	55		35	%	$	10		35	%
Effect of:
Tax exempt interest	(7		)	(4	%)	(7		)	(23	%)
Change in valuation allowance	1			1	%	(1		)	(3	%)
Subsidiaries not in AFG’s tax return	1			—	%	1			3	%
Other	2			1	%	2			5	%
Provision for income taxes as shown in the statement of earnings	$	52		33	%	$	5		17	%