Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Lease activity

The following table details AFG’s lease activity for the quarter and nine months ended September 30, 2019 (in millions):

	Three months ended		Nine months ended
	September 30, 2019		September 30, 2019
Lease expense:
Operating leases	$	12	$	34
Short-term leases	—		1
Total lease expense	$	12	$	35

Other operating lease liability information

Other operating lease information for the nine months ended September 30, 2019 (in millions):

Cash paid for lease liabilities reported in operating cash flows	$	37
Right-of-use assets obtained under new leases	15

Undiscounted contractual maturities of operating lease liabilities

The following table presents the undiscounted contractual maturities of AFG’s operating lease liability at September 30, 2019 (in millions):

Operating lease payments:
Remainder of 2019	$	12
2020	45
2021	40
2022	31
2023	26
Thereafter	54
Total lease payments	208
Impact of discounting	(24		)
Operating lease liability	$	184

Schedule of weighted-average remaining lease term and weighted-average discount rate

Weighted-average remaining lease term	5.6 years
Weighted-average discount rate	4.1	%