Company: AFGC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001042046-25-000011
Chunk: 47

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-02-25
Form: 10-K
Item: Item 9C
Chunk 47
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 2025.The total intrinsic value of options exercised during 2024, 2023 and 2022 was $10 million, $8 million and $18 million, respectively. During 2024, 2023 and 2022, AFG received $6 million, $4 million and $7 million, respectively, in cash from the exercise of stock options. The total tax benefit related to the exercises was $2 million, $1 million and $3 million during those years, respectively.Total compensation expense related to stock incentive plans of AFG and its subsidiaries was $18 million for 2024, $18 million for 2023 and $19 million for 2022. AFG’s provision for income tax includes tax benefits of $7 million in 2024, $6 million in 2023 and $8 million in 2022 related to AFG’s stock incentive plans. At December 31, 2024, there was $32 million of unrecognized compensation expense related to restricted stock awards, which is expected to be recognized over a weighted average of 2.5 years. At December 31, 2024, there was no unrecognized compensation expense related to unvested stock options.Accumulated Other Comprehensive Income (Loss), Net of Tax (“AOCI”)   Comprehensive income is defined as all changes in shareholders’ equity except those arising from transactions with shareholders. Comprehensive income includes net earnings and other comprehensive income (loss), which consists primarily of changes in net unrealized gains or losses on available for sale fixed maturity securities.The progression of the components of accumulated other comprehensive income (loss) follows (in millions):Other Comprehensive Income (Loss)AOCI Beginning BalancePretaxTaxNet of taxAOCI Ending BalanceYear ended December 31, 2024Net unrealized gains (losses) on securities:Unrealized holding gains (losses) on securities arising during the period$77 $(16)$61 Reclassification adjustment for realized (gains) losses included in net earnings (*)31 (7)24 Total net unrealized gains (losses) on securities$(287)108 (23)85 $(202)Net unrealized gains (losses) on cash flow hedges:Unrealized holding gains (losses) on cash flow hedges arising during the period(16)4 (12)Reclassification adjustment for investment income included in net earnings (*)24