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Shareholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2018
Stockholders' Equity Note [Abstract]  
Summary of restricted stock awards activity
The restricted Common Stock that AFG has granted generally vests over a three or four year period. Data relating to grants of restricted stock is presented below:
 
Shares
 
Average
Grant Date
Fair Value
Outstanding at January 1, 2018
759,035

 
$
73.40

Granted
200,625

 
$
112.86

Vested
(86,177
)
 
$
56.89

Forfeited
(7,553
)
 
$
87.47

Outstanding at December 31, 2018
865,930

 
$
84.06
Summary of stock options activity
Data for stock options issued under AFG’s stock incentive plans is presented below:
 
Shares
 
Average
Exercise
Price
 
Average
Remaining
Contractual
Term
 
Aggregate
Intrinsic
Value
(in millions)
Outstanding at January 1, 2018
3,467,340

 
$
45.80

 
 
 
 
Exercised
(778,270
)
 
$
37.66

 
 
 
 
Forfeited/Cancelled
(21,628
)
 
$
42.10

 
 
 
 
Outstanding at December 31, 2018
2,667,442

 
$
48.20

 
4.2 years
 
$
113

 
 
 
 
 
 
 
 
Options exercisable at December 31, 2018
2,253,003

 
$
45.95

 
3.9 years
 
$
100
Components of accumulated other comprehensive income (loss)
The progression of the components of accumulated other comprehensive income follows (in millions):
 
 
 
Other Comprehensive Income (Loss)
 
 
 
 
 
AOCI
Beginning
Balance
 
Pretax
 
Tax
 
Net
of
tax
 
Attributable to
noncontrolling
interests
 
Attributable to
shareholders
 
Other (c)
 
AOCI
Ending
Balance
Year ended December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unrealized gains (losses) on securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized holding losses on securities arising during the period
 
 
$
(689
)
 
$
145

 
$
(544
)
 
$
—

 
$
(544
)
 
 
 
 
Reclassification adjustment for realized (gains) losses included in net earnings (a)
 
 
10

 
(2
)
 
8

 
—

 
8

 
 
 
 
Total net unrealized gains (losses) on securities (b)
$
840

 
(679
)
 
143

 
(536
)
 
—

 
(536
)
 
$
(221
)
 
$
83

Net unrealized gains (losses) on cash flow hedges
(13
)
 
2

 
—

 
2

 
—

 
2

 
—

 
(11
)
Foreign currency translation adjustments
(6
)
 
(9
)
 
(1
)
 
(10
)
 
—

 
(10
)
 
—

 
(16
)
Pension and other postretirement plans adjustments
(8
)
 
—

 
—

 
—

 
—

 
—

 
—

 
(8
)
Total
$
813

 
$
(686
)
 
$
142

 
$
(544
)
 
$
—

 
$
(544
)
 
$
(221
)
 
$
48

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year ended December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unrealized gains on securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized holding gains on securities arising during the period
 
 
$
456

 
$
(159
)
 
$
297

 
$
—

 
$
297

 
 
 
 
Reclassification adjustment for realized (gains) losses included in net earnings (a)
 
 
(15
)
 
5

 
(10
)
 
—

 
(10
)
 
 
 
 
Total net unrealized gains on securities (b)
$
404

 
441

 
(154
)
 
287

 
—

 
287

 
$
149

 
$
840

Net unrealized losses on cash flow hedges
(7
)
 
(6
)
 
2

 
(4
)
 
—

 
(4
)
 
(2
)
 
(13
)
Foreign currency translation adjustments
(15
)
 
9

 
3

 
12

 
—

 
12

 
(3
)
 
(6
)
Pension and other postretirement plans adjustments
(7
)
 
1

 
—

 
1

 
—

 
1

 
(2
)
 
(8
)
Total
$
375

 
$
445

 
$
(149
)
 
$
296

 
$
—

 
$
296

 
$
142

 
$
813

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year ended December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unrealized gains on securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized holding gains on securities arising during the period
 
 
$
124

 
$
(44
)
 
$
80

 
$
(4
)
 
$
76

 
 
 
 
Reclassification adjustment for realized (gains) losses included in net earnings (a)
 
 
(19
)
 
7

 
(12
)
 
(1
)
 
(13
)
 
 
 
 
Total net unrealized gains on securities (b)
$
332

 
105

 
(37
)
 
68

 
(5
)
 
63

 
$
9

 
$
404

Net unrealized gains (losses) on cash flow hedges
1

 
(12
)
 
4

 
(8
)
 
—

 
(8
)
 
—

 
(7
)
Foreign currency translation adjustments
(22
)
 
6

 
1

 
7

 
—

 
7

 
—

 
(15
)
Pension and other postretirement plans adjustments
(7
)
 
—

 
—

 
—

 
—

 
—

 
—

 
(7
)
Total
$
304

 
$
99

 
$
(32
)
 
$
67

 
$
(5
)
 
$
62

 
$
9

 
$
375

 
(a)    The reclassification adjustment out of net unrealized gains on securities affected the following lines in AFG’s Statement of Earnings:
 
OCI component
 
Affected line in the statement of earnings
 
 
Pretax
 
Realized gains (losses) on securities
 
 
Tax
 
Provision for income taxes
 
 
Attributable to noncontrolling interests
 
Net earnings attributable to noncontrolling interests
 

(b)
Includes net unrealized gains of $58 million at December 31, 2018 compared to net unrealized gains of $68 million and $52 million at December 31, 2017 and 2016, related to securities for which only the credit portion of an other-than-temporary impairment has been recorded in earnings.
(c)
On January 1, 2018, AFG adopted new guidance that requires all equity securities other than those accounted for under the equity method to be reported at fair value with holding gains and losses recognized in net earnings. At the date of adoption, the $221 million net unrealized gain on equity securities classified as available for sale (with unrealized holding gains and losses reported in AOCI) under the prior guidance was reclassified from AOCI to retained earnings as the cumulative effect of an accounting change. Other also includes the December 2017 reclassification of $145 million stranded in AOCI from accounting for the Tax Cuts and Jobs Act of 2017 to retained earnings (see Note A — “Accounting Policies — Income Taxes”), the impact on AOCI of the December 2017 sale of redeemable noncontrolling interests in Neon and the November 2016 acquisition of the noncontrolling interest in NATL (see Note B — “Acquisitions and Sale of Businesses”).