v3.25.4

Condensed Financial Information of Parent Company - Condensed Statement of Cash Flows (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Operating Activities:
Net earnings	$ 842	$ 887	$ 852
Adjustments:
Other operating activities, net	(7)	(28)	(26)
Net cash provided by operating activities	1,533	1,152	1,970
Investing Activities:
Net cash provided by (used in) investing activities	(835)	95	414
Financing Activities:
Additional long-term borrowings	344	0	0
Reductions of long-term debt	0	0	(21)
Issuances of Common Stock	12	17	15
Repurchases of Common Stock	(99)	0	(213)
Cash dividends paid on Common Stock	(606)	(788)	(684)
Net cash used in financing activities	(377)	(1,066)	(2,031)
Cash and cash equivalents, period increase (decrease)	321	181	353
Cash and cash equivalents at beginning of year	1,406
Cash and cash equivalents at end of year	1,727	1,406
AFG
Operating Activities:
Net earnings	842	887	852
Adjustments:
Equity in net earnings of subsidiaries	(1,008)	(1,030)	(967)
Dividends from subsidiaries	699	812	896
Other operating activities, net	49	43	(62)
Net cash provided by operating activities	582	712	719
Investing Activities:
Capital contributions to subsidiaries	(40)	(36)	(180)
Returns of capital from subsidiaries	4	30	7
Purchases of investments, property and equipment	(169)	(55)	(35)
Proceeds from maturities and redemptions of investments	23	129	255
Sales of investments, property and equipment	0	4	178
Net cash provided by (used in) investing activities	(182)	72	225
Financing Activities:
Additional long-term borrowings	344	0	0
Reductions of long-term debt	0	0	(21)
Issuances of Common Stock	13	19	17
Repurchases of Common Stock	(99)	0	(213)
Cash dividends paid on Common Stock	(606)	(788)	(684)
Net cash used in financing activities	(348)	(769)	(901)
Cash and cash equivalents, period increase (decrease)	52	15	43
Cash and cash equivalents at beginning of year	283	268	225
Cash and cash equivalents at end of year	$ 335	$ 283	$ 268

The cash outflow associated with amounts contributed to subsidiaries during the period.

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