Income Taxes (Tables)

6 Months Ended

Jun. 30, 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 June 30,										Six months ended June 30,
	2016					2015					2016					2015
	Amount			% of EBT		Amount			% of EBT		Amount			% of EBT		Amount			% of EBT
Earnings before income taxes (“EBT”)	$	136				$	226				$	292				$	256
Income taxes at statutory rate	$	47		35	%	$	80		35	%	$	102		35	%	$	90		35	%
Effect of:
Tax exempt interest	(6		)	(4	%)	(7		)	(3	%)	(13		)	(4	%)	(14		)	(5	%)
Change in valuation allowance	32			24	%	1			—	%	33			11	%	—			—	%
Subsidiaries not in AFG’s tax return	1			1	%	1			—	%	2			1	%	2			1	%
Other	(1		)	(2	%)	2			2	%	1			—	%	4			1	%
Provision for income taxes as shown in the statement of earnings	$	73		54	%	$	77		34	%	$	125		43	%	$	82		32	%