Leases Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Lease activity

The following table details AFG’s lease activity for the year ended December 31, 2019 (in millions):

	2019
Lease expense:
Operating leases	$	46
Short-term leases	1
Total lease expense	$	47

Other operating lease liability information

Other operating lease information for the year ended December 31, 2019 (in millions):

Cash paid for lease liabilities reported in operating cash flows	$	49
Right-of-use assets obtained under new leases	19

Undiscounted contractual maturities of operating lease liabilities

The following table presents the undiscounted contractual maturities of AFG’s operating lease liability at December 31, 2019 (in millions):

Operating lease payments:
2020	$	46
2021	41
2022	32
2023	27
2024	20
Thereafter	35
Total lease payments	201
Impact of discounting	(21		)
Operating lease liability	$	180

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

Weighted-average remaining lease term	5.5 years
Weighted-average discount rate	4.1	%