Income Taxes (Tables)

3 Months Ended

Mar. 31, 2017

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,
	2017					2016
	Amount			% of EBT		Amount			% of EBT
Earnings before income taxes (“EBT”)	$	223				$	156
Income taxes at statutory rate	$	78		35	%	$	55		35	%
Effect of:
Tax exempt interest	(6		)	(3	%)	(7		)	(4	%)
Stock-based compensation	(6		)	(3	%)	—			—	%
Change in valuation allowance	(2		)	(1	%)	1			1	%
Subsidiaries not in AFG’s tax return	—			—	%	1			—	%
Other	4			2	%	2			1	%
Provision for income taxes as shown in the statement of earnings	$	68		30	%	$	52		33	%