Shareholders' Equity (Tables)

3 Months Ended

Mar. 31, 2024

Stockholders' Equity Note [Abstract]

Components of accumulated other comprehensive income (loss)

The progression of the components of accumulated other comprehensive income (loss) follows (in millions):

			Other Comprehensive Income (Loss)
	AOCI Beginning Balance		Pretax		Tax		Net of tax		AOCI Ending Balance
Three months ended March 31, 2024
Net unrealized gains (losses) on securities:
Unrealized holding gains (losses) on securities arising during the period			$	6	$	(1)	$	5
Reclassification adjustment for realized (gains) losses included in net earnings (*)			5		(1)		4
Total net unrealized gains (losses) on securities	$	(287)	11		(2)		9		$	(278)
Net unrealized gains (losses) on cash flow hedges:
Unrealized holding gains (losses) on cash flow hedges arising during the period			(13)		3		(10)
Reclassification adjustment for investment income included in net earnings (*)			7		(2)		5
Total net unrealized gains (losses) on cash flow hedges	(17)		(6)		1		(5)		(22)
Foreign currency translation adjustments	(17)		—		—		—		(17)
Pension and other postretirement plan adjustments	2		—		—		—		2
Total	$	(319)	$	5	$	(1)	$	4	$	(315)
Three months ended March 31, 2023
Net unrealized gains (losses) on securities:
Unrealized holding gains (losses) on securities arising during the period			$	78	$	(17)	$	61
Reclassification adjustment for realized (gains) losses included in net earnings (*)			29		(6)		23
Total net unrealized gains (losses) on securities	$	(497)	107		(23)		84		$	(413)
Net unrealized gains (losses) on cash flow hedges:
Unrealized holding gains (losses) on cash flow hedges arising during the period			5		(1)		4
Reclassification adjustment for investment income included in net earnings (*)			5		(1)		4
Total net unrealized gains (losses) on cash flow hedges	(29)		10		(2)		8		(21)
Foreign currency translation adjustments	(20)		—		—		—		(20)
Pension and other postretirement plan adjustments	3		—		—		—		3
Total	$	(543)	$	117	$	(25)	$	92	$	(451)

(*)The reclassification adjustments affected the following lines in AFG’s Statement of Earnings:

OCI component	Affected line in the statement of earnings
Pretax - Net unrealized gains (losses) on securities	Realized gains (losses) on securities
Pretax - Net unrealized gains (losses) on cash flow hedges	Net investment income
Tax	Provision for income taxes