Goodwill and Other Intangibles

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangibles

Goodwill and Other Intangibles

Changes in the carrying value of goodwill during 2019, 2020 and 2021 are presented in the following table (in millions):

Balance at January 1, 2019 and December 31, 2019 and 2020	$	176
Purchase of Verikai	70
Balance at December 31, 2021	$	246

Included in other assets in AFG’s Balance Sheet is $106 million at December 31, 2021 and $34 million at December 31, 2020 of amortizable intangible assets related to acquisitions. These amounts are net of accumulated amortization of $67 million and $62 million, respectively. Amortization of intangibles was $6 million in 2021, $12 million in 2020 and $11 million in 2019. The increase in amortizable intangible assets relates primarily to developed technology obtained in the purchase of Verikai in December 2021 (see Note C — “Acquisitions and Sale of Businesses”). Future amortization of

intangibles (weighted average amortization period of 9 years is estimated to be $13 million per year in 2022, 2023, 2024, 2025 and 2026 and $41 million thereafter.