XML 59 R37.htm IDEA: XBRL DOCUMENT v3.22.0.1
Shareholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2021
Stockholders' Equity Note [Abstract]  
Summary of restricted stock awards
The restricted Common Stock that AFG has granted generally vests over a four-year period. Data relating to grants of restricted stock is presented below:
SharesAverage
Grant Date
Fair Value
Outstanding at January 1, 2021818,233 $101.65 
Granted207,020 $111.13 
Vested(252,654)$95.69 
Forfeited(120,753)$103.70 
Outstanding at December 31, 2021651,846 $106.59 
Summary of stock options activity
Data for stock options issued under AFG’s stock incentive plans is presented below:
SharesAverage
Exercise
Price		Average
Remaining
Contractual
Term		Aggregate
Intrinsic
Value
(in millions)
Outstanding at January 1, 20211,589,094 $52.43 
Exercised(1,208,964)$48.93 
Special dividend adjustment36,169 n/a
Forfeited/Cancelled(1,554)$58.36 
Outstanding at December 31, 2021414,745 $46.04 2.1 years$38 
Options exercisable at December 31, 2021414,745 $46.04 2.1 years$38 
Components of accumulated other comprehensive income (loss) The progression of the components of accumulated other comprehensive income follows (in millions):
Other Comprehensive Income (Loss)
AOCI
Beginning
Balance		PretaxTaxNet
of
tax		Attributable to
noncontrolling
interests 		Attributable to
shareholders 		OtherAOCI
Ending
Balance
Year ended December 31, 2021
Net unrealized gains (losses) on securities:
Unrealized holding losses on securities arising during the period$(275)$57 $(218)$— $(218)
Reclassification adjustment for realized (gains) losses included in net earnings (*)(22)5 (17)— (17)
Reclassification for unrealized gains of subsidiaries sold
(1,119)235 (884)— (884)
Total net unrealized gains (losses) on securities$1,255 (1,416)297 (1,119)— (1,119)$— $136 
Net unrealized gains (losses) on cash flow hedges:
Unrealized holding losses on cash flow hedges arising during the period(1)— (1)— (1)
Reclassification adjustment for investment income included in net earnings from discontinued operations(14)3 (11)— (11)
Reclassification for unrealized gains on cash flow hedges of subsidiaries sold
(37)8 (29)— (29)
Total net unrealized gains (losses) on cash flow hedges41 (52)11 (41)— (41)— — 
Foreign currency translation adjustments(16)(2)— (2)— (2)— (18)
Pension and OPRP adjustments:
Unrealized holding losses on pension and OPRP arising during the period(1)— (1)— (1)
Reclassification adjustment for pension settlement loss included in other expense in net earnings11 (2)9 — 9 
Total pension and OPRP adjustments(7)10 (2)8 — 8 — 1 
Total$1,273 $(1,460)$306 $(1,154)$— $(1,154)$— $119 
Other Comprehensive Income (Loss)
AOCI
Beginning
Balance		PretaxTaxNet
of
tax		Attributable to
noncontrolling
interests 		Attributable to
shareholders 		OtherAOCI
Ending
Balance
Year ended December 31, 2020
Net unrealized gains on securities:
Unrealized holding gains on securities arising during the period$887 $(187)$700 $— $700 
Reclassification adjustment for realized (gains) losses included in net earnings (*)(389)82 (307)— (307)
Total net unrealized gains on securities$862 498 (105)393 — 393 $— $1,255 
Net unrealized gains on cash flow hedges:
Unrealized holding gains on cash flow hedges arising during the period$70 $(14)$56 $— $56 
Reclassification adjustment for investment income included in net earnings from discontinued operations(40)8 (32)— (32)
Total net unrealized gains on cash flow hedges17 30 (6)24 — 24 — 41 
Foreign currency translation adjustments(9)(1)— (1)(2)(3)(4)(16)
Pension and other postretirement plans adjustments(7)— — — — — — (7)
Total$863 $527 $(111)$416 $(2)$414 $(4)$1,273 
Year ended December 31, 2019
Net unrealized gains (losses) on securities:
Unrealized holding gains on securities arising during the period$997 $(209)$788 $— $788 
Reclassification adjustment for realized (gains) losses included in net earnings (*)(11)2 (9)— (9)
Total net unrealized gains on securities$83 986 (207)779 — 779 $— $862 
Net unrealized gains (losses) on cash flow hedges:
Unrealized holding gains on cash flow hedges arising during the period$39 $(8)$31 $— $31 
Reclassification adjustment for investment income included in net earnings from discontinued operations(3)— (3)— (3)
Total net unrealized gains (losses) on cash flow hedges(11)36 (8)28 — 28 — 17 
Foreign currency translation adjustments(16)7 — 7 — 7 — (9)
Pension and other postretirement plans adjustments(8)1 — 1 — 1 — (7)
Total$48 $1,030 $(215)$815 $— $815 $— $863 
(*)The reclassification adjustment out of net unrealized gains (losses) on securities affected the following lines in AFG’s Statement of Earnings:
OCI componentAffected line in the statement of earnings
PretaxRealized gains (losses) on securities
TaxProvision for income taxes