XML 36 R19.htm IDEA: XBRL DOCUMENT
v3.20.2

Investments (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2020
Short-Term and Long-Term Investments [Table Text Block] | A summary of debt securities by major security type is as follows:
(in millions) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
June 30, 2020 |  |  |  |  |  |  |  |
Debt securities - available-for-sale: |  |  |  |  |  |  |  |
U.S. government and agency obligations |  | $ | 3,402 |  |  | $ | 178 |  |  | $ | — |  |  | $ | 3,580 |
State and municipal obligations |  | 5,872 |  |  | 330 |  |  | (3) |  |  | 6,199 |
Corporate obligations |  | 17,324 |  |  | 728 |  |  | (68) |  |  | 17,984 |
U.S. agency mortgage-backed securities |  | 6,005 |  |  | 274 |  |  | — |  |  | 6,279 |
Non-U.S. agency mortgage-backed securities |  | 1,875 |  |  | 83 |  |  | (14) |  |  | 1,944 |
Total debt securities - available-for-sale |  | 34,478 |  |  | 1,593 |  |  | (85) |  |  | 35,986 |
Debt securities - held-to-maturity: |  |  |  |  |  |  |  |
U.S. government and agency obligations |  | 421 |  |  | 8 |  |  | — |  |  | 429 |
State and municipal obligations |  | 31 |  |  | 2 |  |  | — |  |  | 33 |
Corporate obligations |  | 285 |  |  | — |  |  | — |  |  | 285 |
Total debt securities - held-to-maturity |  | 737 |  |  | 10 |  |  | — |  |  | 747 |
Total debt securities |  | $ | 35,215 |  |  | $ | 1,603 |  |  | $ | (85) |  |  | $ | 36,733 |
December 31, 2019 |  |  |  |  |  |  |  |
Debt securities - available-for-sale: |  |  |  |  |  |  |  |
U.S. government and agency obligations |  | $ | 3,502 |  |  | $ | 55 |  |  | $ | (4) |  |  | $ | 3,553 |
State and municipal obligations |  | 5,680 |  |  | 251 |  |  | (5) |  |  | 5,926 |
Corporate obligations |  | 17,910 |  |  | 343 |  |  | (11) |  |  | 18,242 |
U.S. agency mortgage-backed securities |  | 6,425 |  |  | 109 |  |  | (6) |  |  | 6,528 |
Non-U.S. agency mortgage-backed securities |  | 1,811 |  |  | 37 |  |  | (3) |  |  | 1,845 |
Total debt securities - available-for-sale |  | 35,328 |  |  | 795 |  |  | (29) |  |  | 36,094 |
Debt securities - held-to-maturity: |  |  |  |  |  |  |  |
U.S. government and agency obligations |  | 402 |  |  | 2 |  |  | — |  |  | 404 |
State and municipal obligations |  | 32 |  |  | 2 |  |  | — |  |  | 34 |
Corporate obligations |  | 538 |  |  | — |  |  | (1) |  |  | 537 |
Total debt securities - held-to-maturity |  | 972 |  |  | 4 |  |  | (1) |  |  | 975 |
Total debt securities |  | $ | 36,300 |  |  | $ | 799 |  |  | $ | (30) |  |  | $ | 37,069 |
Investments by Contractual Maturity [Table Text Block] | The amortized cost and fair value of debt securities as of June 30, 2020, by contractual maturity, were as follows:
|  | Available-for-Sale |  |  |  | Held-to-Maturity |  |
(in millions) |  | Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
Due in one year or less |  | $ | 3,414 |  |  | $ | 3,433 |  |  | $ | 429 |  |  | $ | 429 |
Due after one year through five years |  | 10,974 |  |  | 11,365 |  |  | 255 |  |  | 261 |
Due after five years through ten years |  | 8,481 |  |  | 9,083 |  |  | 31 |  |  | 33 |
Due after ten years |  | 3,729 |  |  | 3,882 |  |  | 22 |  |  | 24 |
U.S. agency mortgage-backed securities |  | 6,005 |  |  | 6,279 |  |  | — |  |  | — |
Non-U.S. agency mortgage-backed securities |  | 1,875 |  |  | 1,944 |  |  | — |  |  | — |
Total debt securities |  | $ | 34,478 |  |  | $ | 35,986 |  |  | $ | 737 |  |  | $ | 747 |
Fair Value of Available-for-Sale Investments with Gross Unrealized Losses by Investment Type and Length of Time that Individual Securities have been in a Continuous Unrealized Loss Position [Table Text Block] | The fair value of available-for-sale debt securities with gross unrealized losses by major security type and length of time that individual securities have been in a continuous unrealized loss position were as follows:
|  | Less Than 12 Months |  |  |  | 12 Months or Greater |  |  |  | Total |  |
(in millions) |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |
Debt securities - available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |
State and municipal obligations |  | $ | 284 |  |  | $ | (3) |  |  | $ | — |  |  | $ | — |  |  | $ | 284 |  |  | $ | (3) |
Corporate obligations |  | 1,908 |  |  | (58) |  |  | 375 |  |  | (10) |  |  | 2,283 |  |  | (68) |
Non-U.S. agency mortgage-backed securities |  | 249 |  |  | (12) |  |  | 42 |  |  | (2) |  |  | 291 |  |  | (14) |
Total debt securities - available-for-sale |  | $ | 2,441 |  |  | $ | (73) |  |  | $ | 417 |  |  | $ | (12) |  |  | $ | 2,858 |  |  | $ | (85) |
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |
Debt securities - available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |
U.S. government and agency obligations |  | $ | 616 |  |  | $ | (4) |  |  | $ | — |  |  | $ | — |  |  | $ | 616 |  |  | $ | (4) |
State and municipal obligations |  | 440 |  |  | (5) |  |  | — |  |  | — |  |  | 440 |  |  | (5) |
Corporate obligations |  | 1,903 |  |  | (7) |  |  | 740 |  |  | (4) |  |  | 2,643 |  |  | (11) |
U.S. agency mortgage-backed securities |  | 657 |  |  | (3) |  |  | 333 |  |  | (3) |  |  | 990 |  |  | (6) |
Non-U.S. agency mortgage-backed securities |  | 406 |  |  | (3) |  |  | — |  |  | — |  |  | 406 |  |  | (3) |
Total debt securities - available-for-sale |  | $ | 4,022 |  |  | $ | (22) |  |  | $ | 1,073 |  |  | $ | (7) |  |  | $ | 5,095 |  |  | $ | (29) |

X
- Definition Tabular disclosure of fair value of investments in debt and equity securities in an unrealized loss position categorized neither as held-to-maturity nor trading securities. + References No definition available. + Details
Name: | us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of unrealized gains and losses on investments. + References No definition available. + Details
Name: | us-gaap_UnrealizedGainLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration