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Quarterly Operating Results (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
Schedule of quarterly operating results
The following are quarterly results of consolidated operations for the two years ended December 31, 2018 (in millions, except per share amounts). Quarterly earnings per share do not add to year-to-date amounts due to changes in shares outstanding.
 
 
1st
Quarter
 
2nd
Quarter
 
3rd
Quarter
 
4th
Quarter
 
Total
Year
2018
 
 
 
 
 
 
 
 
 
 
Revenues
 
$
1,619

 
$
1,833

 
$
2,008

 
$
1,690

 
$
7,150

Net earnings (losses), including noncontrolling interests
 
141

 
208

 
203

 
(35
)
 
517

Net earnings (losses) attributable to shareholders
 
145

 
210

 
204

 
(29
)
 
530

Earnings (losses) attributable to shareholders per Common Share:
 
 
 
 
 
 
 
 
 
 
Basic
 
$
1.64

 
$
2.36

 
$
2.30

 
$
(0.33
)
 
$
5.95

Diluted
 
1.60

 
2.31

 
2.26

 
(0.33
)
 
5.85

Average number of Common Shares:
 
 
 
 
 
 
 
 
 
 
Basic
 
88.6

 
89.0

 
89.1

 
89.3

 
89.0

Diluted
 
90.4

 
90.7

 
90.7

 
89.3

 
90.6

2017
 
 
 
 
 
 
 
 
 
 
Revenues
 
$
1,576

 
$
1,646

 
$
1,835

 
$
1,808

 
$
6,865

Net earnings, including noncontrolling interests
 
155

 
145

 
11

 
166

 
477

Net earnings attributable to shareholders
 
153

 
145

 
11

 
166

 
475

Earnings attributable to shareholders per Common Share:
 
 
 
 
 
 
 
 
 
 
Basic
 
$
1.76

 
$
1.64

 
$
0.13

 
$
1.88

 
$
5.40

Diluted
 
1.72

 
1.61

 
0.13

 
1.84

 
5.28

Average number of Common Shares:
 
 
 
 
 
 
 
 
 
 
Basic
 
87.2

 
87.8

 
88.1

 
88.2

 
87.8

Diluted
 
89.3

 
89.8

 
90.0

 
90.1

 
89.8
Quarterly information on realized gains (losses) and favorable (unfavorable) development on unpaid loss and loss adjustment expenses
Pretax realized gains on subsidiaries and securities (including other-than-temporary impairments), favorable (adverse) prior year development of AFG’s liability for losses and loss adjustment expenses (“LAE”) and the impact of derivatives related to fixed-indexed and variable-indexed annuities (“FIAs”) were as follows (in millions):
 
 
1st
Quarter
 
2nd
Quarter
 
3rd
Quarter
 
4th
Quarter
 
Total
Year
Realized Gains (Losses) on Securities and Subsidiaries
 
 
 
 
 
 
 
 
 
 
2018 – change in fair value of equity securities
 
$
(95
)
 
$
23

 
$
33

 
$
(223
)
 
$
(262
)
2018 – other realized gains (losses)
 
2

 
8

 
1

 
(15
)
 
(4
)
2017
 
3

 
8

 
(12
)
 
6

 
5

 
 
 
 
 
 
 
 
 
 
 
Prior Year Development Favorable (Adverse)
 
 
 
 
 
 
 
 
 
 
2018
 
$
56

 
$
44

 
$
31

 
$
61

 
$
192

2017
 
28

 
22

 
(52
)
 
66

 
64

 
 
 
 
 
 
 
 
 
 
 
Impact of Derivatives related to FIAs Favorable (Adverse)
 
 
 
 
 
 
 
 
 
 
2018
 
$
13

 
$
3

 
$
(2
)
 
$
(47
)
 
$
(33
)
2017
 
(2
)
 
(16
)
 
(4
)
 
(11
)
 
(33
)