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Investments (Tables)
12 Months Ended
Dec. 31, 2022
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
December 31, 2022
Debt securities - available-for-sale:
U.S. government and agency obligations$4,093 $$(285)$3,809 
State and municipal obligations7,702 25 (479)7,248 
Corporate obligations23,675 17 (1,798)21,894 
U.S. agency mortgage-backed securities7,379 15 (808)6,586 
Non-U.S. agency mortgage-backed securities3,077 (294)2,784 
Total debt securities - available-for-sale45,926 59 (3,664)42,321 
Debt securities - held-to-maturity:
U.S. government and agency obligations578 — (14)564 
State and municipal obligations29 — (3)26 
Corporate obligations89 — — 89 
Total debt securities - held-to-maturity696 — (17)679 
Total debt securities$46,622 $59 $(3,681)$43,000 
December 31, 2021
Debt securities - available-for-sale:
U.S. government and agency obligations$3,206 $23 $(31)$3,198 
State and municipal obligations6,829 297 (20)7,106 
Corporate obligations20,947 372 (145)21,174 
U.S. agency mortgage-backed securities5,868 88 (55)5,901 
Non-U.S. agency mortgage-backed securities2,819 42 (23)2,838 
Total debt securities - available-for-sale39,669 822 (274)40,217 
Debt securities - held-to-maturity:
U.S. government and agency obligations511 (2)511 
State and municipal obligations30 — 32 
Corporate obligations100 — — 100 
Total debt securities - held-to-maturity641 (2)643 
Total debt securities$40,310 $826 $(276)$40,860 
Investments by Contractual Maturity [Table Text Block] The amortized cost and fair value of debt securities as of December 31, 2022, by contractual maturity, were as follows:
Available-for-SaleHeld-to-Maturity
(in millions)Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Due in one year or less$4,713 $4,682 $374 $369 
Due after one year through five years13,135 12,404 265 256 
Due after five years through ten years12,210 10,897 37 36 
Due after ten years5,412 4,968 20 18 
U.S. agency mortgage-backed securities7,379 6,586 — — 
Non-U.S. agency mortgage-backed securities3,077 2,784 — — 
Total debt securities$45,926 $42,321 $696 $679 
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value 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 Months12 Months or Greater Total
(in millions)Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
December 31, 2022
U.S. government and agency obligations$2,007 $(96)$1,290 $(189)$3,297 $(285)
State and municipal obligations4,630 (288)1,178 (191)5,808 (479)
Corporate obligations13,003 (893)6,637 (905)19,640 (1,798)
U.S. agency mortgage-backed securities
3,561 (345)2,239 (463)5,800 (808)
Non-U.S. agency mortgage-backed securities
1,698 (128)976 (166)2,674 (294)
Total debt securities - available-for-sale$24,899 $(1,750)$12,320 $(1,914)$37,219 $(3,664)
December 31, 2021
U.S. government and agency obligations$1,976 $(18)$249 $(13)$2,225 $(31)
State and municipal obligations1,386 (19)31 (1)1,417 (20)
Corporate obligations9,357 (130)376 (15)9,733 (145)
U.S. agency mortgage-backed securities
3,078 (52)116 (3)3,194 (55)
Non-U.S. agency mortgage-backed securities
1,321 (18)114 (5)1,435 (23)
Total debt securities - available-for-sale$17,118 $(237)$886 $(37)$18,004 $(274)