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Income Taxes (Tables)
 3 Months Ended
Mar. 31, 2018
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 (21% in 2018 and 35% in 2017) to the provision for income taxes as shown in AFG’s Statement of Earnings (dollars in millions):
 
Three months ended March 31,
 
2018
 
2017
 
Amount
 
% of EBT
 
Amount
 
% of EBT
Earnings before income taxes (“EBT”)
$
174

 
 
 
$
223

 
 
 
 
 
 
 
 
 
 
Income taxes at statutory rate
$
37

 
21
%
 
$
78

 
35
%
Effect of:
 
 
 
 
 
 
 
Stock-based compensation
(5
)
 
(3
%)
 
(6
)
 
(3
%)
Tax exempt interest
(3
)
 
(2
%)
 
(6
)
 
(3
%)
Dividends received deduction
(1
)
 
—
%
 
(2
)
 
(1
%)
Foreign operations
3

 
2
%
 
6

 
3
%
Nondeductible expenses
2

 
1
%
 
2

 
1
%
Change in valuation allowance
—

 
—
%
 
(2
)
 
(1
%)
Other
—

 
—
%
 
(2
)
 
(1
%)
Provision for income taxes as shown in the statement of earnings
$
33

 
19
%
 
$
68

 
30
%