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v3.21.2

Investments (Tables) | 6 Months Ended
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Jun. 30, 2021
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, 2021 |  |  |  |  |  |  |  |
Debt securities - available-for-sale: |  |  |  |  |  |  |  |
U.S. government and agency obligations |  | $ | 3,526 |  |  | $ | 88 |  |  | $ | (17) |  |  | $ | 3,597 |
State and municipal obligations |  | 7,044 |  |  | 386 |  |  | (7) |  |  | 7,423 |
Corporate obligations |  | 21,116 |  |  | 628 |  |  | (57) |  |  | 21,687 |
U.S. agency mortgage-backed securities |  | 6,596 |  |  | 167 |  |  | (30) |  |  | 6,733 |
Non-U.S. agency mortgage-backed securities |  | 2,623 |  |  | 72 |  |  | (10) |  |  | 2,685 |
Total debt securities - available-for-sale |  | 40,905 |  |  | 1,341 |  |  | (121) |  |  | 42,125 |
Debt securities - held-to-maturity: |  |  |  |  |  |  |  |
U.S. government and agency obligations |  | 412 |  |  | 4 |  |  | — |  |  | 416 |
State and municipal obligations |  | 30 |  |  | 2 |  |  | — |  |  | 32 |
Corporate obligations |  | 148 |  |  | — |  |  | (1) |  |  | 147 |
Total debt securities - held-to-maturity |  | 590 |  |  | 6 |  |  | (1) |  |  | 595 |
Total debt securities |  | $ | 41,495 |  |  | $ | 1,347 |  |  | $ | (122) |  |  | $ | 42,720 |
December 31, 2020 |  |  |  |  |  |  |  |
Debt securities - available-for-sale: |  |  |  |  |  |  |  |
U.S. government and agency obligations |  | $ | 3,335 |  |  | $ | 133 |  |  | $ | (3) |  |  | $ | 3,465 |
State and municipal obligations |  | 6,893 |  |  | 435 |  |  | — |  |  | 7,328 |
Corporate obligations |  | 18,886 |  |  | 863 |  |  | (12) |  |  | 19,737 |
U.S. agency mortgage-backed securities |  | 6,849 |  |  | 245 |  |  | (3) |  |  | 7,091 |
Non-U.S. agency mortgage-backed securities |  | 2,116 |  |  | 95 |  |  | (4) |  |  | 2,207 |
Total debt securities - available-for-sale |  | 38,079 |  |  | 1,771 |  |  | (22) |  |  | 39,828 |
Debt securities - held-to-maturity: |  |  |  |  |  |  |  |
U.S. government and agency obligations |  | 420 |  |  | 6 |  |  | — |  |  | 426 |
State and municipal obligations |  | 31 |  |  | 2 |  |  | — |  |  | 33 |
Corporate obligations |  | 187 |  |  | 1 |  |  | — |  |  | 188 |
Total debt securities - held-to-maturity |  | 638 |  |  | 9 |  |  | — |  |  | 647 |
Total debt securities |  | $ | 38,717 |  |  | $ | 1,780 |  |  | $ | (22) |  |  | $ | 40,475 |
Investments by Contractual Maturity [Table Text Block] | The amortized cost and fair value of debt securities as of June 30, 2021, 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 |  | $ | 2,808 |  |  | $ | 2,822 |  |  | $ | 309 |  |  | $ | 310 |
Due after one year through five years |  | 13,088 |  |  | 13,460 |  |  | 231 |  |  | 233 |
Due after five years through ten years |  | 11,550 |  |  | 12,000 |  |  | 28 |  |  | 29 |
Due after ten years |  | 4,240 |  |  | 4,425 |  |  | 22 |  |  | 23 |
U.S. agency mortgage-backed securities |  | 6,596 |  |  | 6,733 |  |  | — |  |  | — |
Non-U.S. agency mortgage-backed securities |  | 2,623 |  |  | 2,685 |  |  | — |  |  | — |
Total debt securities |  | $ | 40,905 |  |  | $ | 42,125 |  |  | $ | 590 |  |  | $ | 595 |
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, 2021 |  |  |  |  |  |  |  |  |  |  |  |
Debt securities - available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |
U.S. government and agency obligations |  | $ | 1,201 |  |  | $ | (17) |  |  | $ | — |  |  | $ | — |  |  | $ | 1,201 |  |  | $ | (17) |
State and municipal obligations |  | 777 |  |  | (7) |  |  | — |  |  | — |  |  | 777 |  |  | (7) |
Corporate obligations |  | 4,679 |  |  | (56) |  |  | 229 |  |  | (1) |  |  | 4,908 |  |  | (57) |
U.S. agency mortgage-backed securities |  | 2,668 |  |  | (30) |  |  | — |  |  | — |  |  | 2,668 |  |  | (30) |
Non-U.S. agency mortgage-backed securities |  | 713 |  |  | (8) |  |  | 42 |  |  | (2) |  |  | 755 |  |  | (10) |
Total debt securities - available-for-sale |  | $ | 10,038 |  |  | $ | (118) |  |  | $ | 271 |  |  | $ | (3) |  |  | $ | 10,309 |  |  | $ | (121) |
December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |
Debt securities - available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |
U.S. government and agency obligations |  | $ | 346 |  |  | $ | (3) |  |  | $ | — |  |  | $ | — |  |  | $ | 346 |  |  | $ | (3) |
Corporate obligations |  | 1,273 |  |  | (9) |  |  | 456 |  |  | (3) |  |  | 1,729 |  |  | (12) |
U.S. agency mortgage-backed securities |  | 601 |  |  | (3) |  |  | — |  |  | — |  |  | 601 |  |  | (3) |
Non-U.S. agency mortgage-backed securities |  | 195 |  |  | (1) |  |  | 93 |  |  | (3) |  |  | 288 |  |  | (4) |
Total debt securities - available-for-sale |  | $ | 2,415 |  |  | $ | (16) |  |  | $ | 549 |  |  | $ | (6) |  |  | $ | 2,964 |  |  | $ | (22) |

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