Income Taxes (Tables)

9 Months Ended

Sep. 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 September 30,										Nine months ended September 30,
	2016					2015					2016					2015
	Amount			% of EBT		Amount			% of EBT		Amount			% of EBT		Amount			% of EBT
Earnings before income taxes (“EBT”)	$	178				$	99				$	470				$	355
Income taxes at statutory rate	$	63		35	%	$	34		35	%	$	165		35	%	$	124		35	%
Effect of:
Tax exempt interest	(5		)	(3	%)	(6		)	(6	%)	(18		)	(4	%)	(20		)	(6	%)
Change in valuation allowance	7			4	%	8			8	%	40			9	%	8			2	%
Subsidiaries not in AFG’s tax return	2			1	%	—			—	%	4			1	%	2			1	%
Other	(2		)	—	%	(3		)	(4	%)	(1		)	(1	%)	1			—	%
Provision for income taxes as shown in the statement of earnings	$	65		37	%	$	33		33	%	$	190		40	%	$	115		32	%