Rendering

Component: (Network and Table)
Network
2311301 - Disclosure - Shareholders' Equity (Tables)
(http://www.afginc.com/role/ShareholdersEquityTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0001042046 (http://www.sec.gov/CIK)
Stockholders' Equity Note [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Stockholders' Equity Note [Abstract]
 
Summary of restricted stock awards activity
The restricted Common Stock that AFG has granted generally vests over a three or four year period. Data relating to grants of restricted stock is presented below:
 
Shares
 
Average
Grant Date
Fair Value
Outstanding at January 1, 2016
505,698

 
$
51.43

Granted
318,940

 
$
67.00

Vested
(141,598
)
 
$
40.73

Forfeited
(4,165
)
 
$
64.08

Outstanding at December 31, 2016
678,875

 
$
60.90

  
Summary of stock options activity
Data for stock options issued under AFG’s stock incentive plans is presented below:
 
Shares
 
Average
Exercise
Price
 
Average
Remaining
Contractual
Term
 
Aggregate
Intrinsic
Value
(in millions)
Outstanding at January 1, 2016
5,516,090

 
$
41.46

 
 
 
 
Exercised
(958,344
)
 
$
33.56

 
 
 
 
Forfeited/Cancelled
(52,645
)
 
$
51.91

 
 
 
 
Outstanding at December 31, 2016
4,505,101

 
$
43.02

 
5.4 years
 
$
203

 
 
 
 
 
 
 
 
Options exercisable at December 31, 2016
2,908,200

 
$
36.95

 
4.4 years
 
$
149

  
Assumptions used in estimating weighted average fair value of options on grant date
The risk-free rate for periods associated with the expected term is based upon the U.S. Treasury yield curve in effect on the grant date.
 
2015
 
2014
Exercise price
$
63.15

 
$
56.47

Expected dividend yield
1.6
%
 
1.6
%
Expected volatility
25
%
 
26
%
Expected term (in years)
7.25

 
7.25

Risk-free rate
1.88
%
 
2.20
%
 
 
 
 
Grant date fair value
$
15.29

 
$
14.66

  
Components of accumulated other comprehensive income (loss)
The progression of the components of accumulated other comprehensive income follows (in millions):
 
 
 
Other Comprehensive Income
 
 
 
 
 
AOCI
Beginning
Balance
 
Pretax
 
Tax
 
Net
of
tax
 
Attributable to
noncontrolling
interests
 
Attributable to
shareholders
 
Other (c)
 
AOCI
Ending
Balance
Year ended December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unrealized gains on securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized holding gains (losses) on securities arising during the period
 
 
$
124

 
$
(44
)
 
$
80

 
$
(4
)
 
$
76

 
 
 
 
Reclassification adjustment for realized (gains) losses included in net earnings (a)
 
 
(19
)
 
7

 
(12
)
 
(1
)
 
(13
)
 
 
 
 
Total net unrealized gains on securities (b)
$
332

 
105

 
(37
)
 
68

 
(5
)
 
63

 
$
9

 
$
404

Net unrealized gains (losses) on cash flow hedges
1

 
(12
)
 
4

 
(8
)
 
—

 
(8
)
 
—

 
(7
)
Foreign currency translation adjustments
(22
)
 
6

 
1

 
7

 
—

 
7

 
—

 
(15
)
Pension and other postretirement plans adjustments
(7
)
 
—

 
—

 
—

 
—

 
—

 
—

 
(7
)
Total
$
304

 
$
99

 
$
(32
)
 
$
67

 
$
(5
)
 
$
62

 
$
9

 
$
375

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year ended December 31, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unrealized gains (losses) on securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized holding gains (losses) on securities arising during the period
 
 
$
(625
)
 
$
219

 
$
(406
)
 
$
9

 
$
(397
)
 
 
 
 
Reclassification adjustment for realized (gains) losses included in net earnings (a)
 
 
14

 
(5
)
 
9

 
(1
)
 
8

 
 
 
 
Reclassification for unrealized gains of subsidiaries sold
 
 
(34
)
 
12

 
(22
)
 
—

 
(22
)
 
 
 
 
Total net unrealized gains (losses) on securities (b)
$
743

 
(645
)
 
226

 
(419
)
 
8

 
(411
)
 
$
—

 
$
332

Net unrealized gains on cash flow hedges
—

 
1

 
—

 
1

 
—

 
1

 
—

 
1

Foreign currency translation adjustments
(8
)
 
(9
)
 
(5
)
 
(14
)
 
—

 
(14
)
 
—

 
(22
)
Pension and other postretirement plans adjustments
(8
)
 
1

 
—

 
1

 
—

 
1

 
—

 
(7
)
Total
$
727

 
$
(652
)
 
$
221

 
$
(431
)
 
$
8

 
$
(423
)
 
$
—

 
$
304

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year ended December 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unrealized gains on securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized holding gains on securities arising during the period
 
 
$
334

 
$
(118
)
 
$
216

 
$
(4
)
 
$
212

 
 
 
 
Reclassification adjustment for realized (gains) losses included in net earnings (a)
 
 
(52
)
 
19

 
(33
)
 
1

 
(32
)
 
 
 
 
Total net unrealized gains on securities (b)
$
563

 
282

 
(99
)
 
183

 
(3
)
 
180

 
$
—

 
$
743

Foreign currency translation adjustments
1

 
(8
)
 
(1
)
 
(9
)
 
—

 
(9
)
 
—

 
(8
)
Pension and other postretirement plans adjustments
(4
)
 
(6
)
 
2

 
(4
)
 
—

 
(4
)
 
—

 
(8
)
Total
$
560

 
$
268

 
$
(98
)
 
$
170

 
$
(3
)
 
$
167

 
$
—

 
$
727

 

(a)
The reclassification adjustment out of net unrealized gains on securities affected the following lines in AFG’s Statement of Earnings:
 
OCI component
 
Affected line in the statement of earnings
 
 
Pretax
 
Realized gains (losses) on securities
 
 
Tax
 
Provision for income taxes
 
 
Attributable to noncontrolling interests
 
Net earnings (loss) attributable to noncontrolling interests
 

(b)
Includes net unrealized gains of $52 million at December 31, 2016 compared to net unrealized gains of $51 million and $58 million at December 31, 2015 and 2014, related to securities for which only the credit portion of an other-than-temporary impairment has been recorded in earnings.
(c)
Other represents the impact on AOCI of the November 2016 acquisition of the noncontrolling interest in NATL (see Note B — “Acquisitions and Sale of Businesses”).