Company: AFGC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001042046-25-000011
Chunk: 151

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7
Chunk 151
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’s parent holding company only condensed cash flows from operating, investing and financing activities are shown below (in millions):

Year ended December 31,202420232022Net cash provided by operating activities$712 $719 $327 Net cash provided by investing activities72 225 992 Net cash used in financing activities(769)(901)(1,683)Net change in cash and cash equivalents$15 $43 $(364)

Parent Net Cash Provided by Operating Activities   Parent holding company cash flows from operating activities consist primarily of dividends and tax payments received from AFG’s insurance subsidiaries, reduced by tax payments to the IRS and holding company interest and other expenses. Parent holding company net cash provided by operating activities was $712 million in 2024 compared to $719 million in 2023 and $327 million in 2022. The $7 million decrease in net cash provided by operating activities in 2024 as compared to 2023 and the $392 million increase in net cash provided by operating activities in 2023 as compared to 2022 were due primarily to higher cash dividends received from subsidiaries in 2023 compared to the other periods.

Parent Net Cash Provided by Investing Activities   Parent holding company investing activities consist of capital contributions to and returns of capital from subsidiaries and parent company investment activity. Parent holding company net cash provided by investing activities was $72 million in 2024, $225 million in 2023 and $992 million in 2022. The $153 million decrease in net cash provided by investing activities in 2024 as compared to 2023 was due primarily to lower balances of invested assets. The $767 million decrease in net cash provided by investing activities in 2023 as compared to 2022 was due to the increase in capital contributions to subsidiaries to fund the purchase of CRS in July 2023 and lower balances of invested assets.

Parent Net Cash Used in Financing Activities   Parent company financing activities consist primarily of the issuance and retirement of long-term debt, repurchases of AFG Common Stock, dividends to shareholders, and, to a lesser extent, proceeds from employee stock option exercises. Significant long-term debt and common stock transactions are discussed above under “Parent Holding Company Liquidity.” Parent holding company net cash used in financing activities was $769 million in 2024 compared to $901 million in 2023 and $1.68 billion in 2022. The $132 million decrease in net cash