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Leases Leases (Tables)
 12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Disclosure of supplemental Balance Sheet information related to leases
AFG’s operating lease right-of-use asset and operating lease liability are included in other assets and other liabilities, respectively, in AFG’s Balance Sheet at December 31 and are presented in the following table (in millions):
20222021
Right-of-use asset$103 $118 
Lease liability116 136 
Lease activity
The following table details AFG’s lease activity for the years ended December 31, 2022, 2021 and 2020 (in millions):
202220212020
Operating lease expense included in other expenses$36 $41 $47 
Sublease income (*)(2)(2)— 
Total lease expense, net of sublease income$34 $39 $47 
(*)Sublease income consists of rent from third parties of office space and is included in other income in AFG’s Consolidated Statement of Earnings.
Other operating lease liability information
Other operating lease information for the years ended December 31, 2022, 2021 and 2020 (in millions):
202220212020
Cash paid for lease liabilities reported in operating cash flows$38 $43 $50 
Right-of-use assets obtained under new leases11 10 25 
Undiscounted contractual maturities of operating lease liabilities
The following table presents the undiscounted contractual maturities of AFG’s operating lease liability at December 31, 2022 (in millions):
Operating lease payments:
2023$36 
202429 
202525 
202620 
20276 
Thereafter12 
Total lease payments128 
Impact of discounting(12)
Operating lease liability$116 
Schedule of weighted-average remaining lease term and weighted-average discount rate
Weighted-average remaining lease term4.5 years
Weighted-average discount rate4.0 %