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Investment Securities | 9 Months Ended
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Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract] |
Investment Securities | 5. Investment Securities Investment securities principally include debt securities that the Company classifies as available-for-sale and carries at fair value on the Consolidated Balance Sheets, with unrealized gains (losses) recorded in Accumulated Other Comprehensive Loss, net of income taxes. Realized gains and losses are recognized on a trade-date basis in results of operations upon disposition of the securities using the specific identification method. The following is a summary of investment securities as of September 30, 2015 and December 31, 2014:
|  |  | 2015 |  | 2014
|  |  |  |  |  |  | Gross |  |  | Gross |  |  | Estimated |  |  |  |  |  | Gross |  |  | Gross |  |  | Estimated
|  |  |  |  |  | Unrealized |  | Unrealized |  |  | Fair |  |  |  | Unrealized |  | Unrealized |  |  | Fair
Description of Securities (Millions) |  |  | Cost |  | Gains |  | Losses |  |  | Value |  | Cost |  | Gains |  | Losses |  |  | Value
State and municipal obligations |  | $ | 2,971 |  | $ | 97 |  | $ | (4) |  | $ | 3,064 |  | $ | 3,366 |  | $ | 129 |  | $ | (2) |  | $ | 3,493
U.S. Government agency |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| obligations |  |  | 2 |  |  | ― |  |  | ― |  |  | 2 |  |  | 3 |  |  | ― |  |  | ― |  |  | 3
U.S. Government treasury |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| obligations |  |  | 297 |  |  | 5 |  |  | ― |  |  | 302 |  |  | 346 |  |  | 4 |  |  | ― |  |  | 350
Corporate debt securities |  |  | 30 |  |  | 1 |  |  | ― |  |  | 31 |  |  | 37 |  |  | 3 |  |  | ― |  |  | 40
Mortgage-backed securities (a) |  |  | 109 |  |  | 5 |  |  | ― |  |  | 114 |  |  | 128 |  |  | 8 |  |  | ― |  |  | 136
Equity securities |  |  | ― |  |  | 1 |  |  | ― |  |  | 1 |  |  | ― |  |  | 1 |  |  | ― |  |  | 1
Foreign government bonds and |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| obligations |  |  | 379 |  |  | 6 |  |  | (1) |  |  | 384 |  |  | 350 |  |  | 9 |  |  | ― |  |  | 359
Other (b) |  |  | 50 |  |  | ― |  |  | (1) |  |  | 49 |  |  | 50 |  |  | ― |  |  | (1) |  |  | 49
Total |  | $ | 3,838 |  | $ | 115 |  | $ | (6) |  | $ | 3,947 |  | $ | 4,280 |  | $ | 154 |  | $ | (3) |  | $ | 4,431
Represents mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae. Other comprises investments in various mutual funds. The following table provides information about the Company’s investment securities with gross unrealized losses and the length of time that individual securities have been in a continuous unrealized loss position as of September 30, 2015 and December 31, 2014:
|  |  | 2015 |  | 2014
|  |  | Less than 12 months |  | 12 months or more |  | Less than 12 months |  | 12 months or more
|  |  |  |  |  |  | Gross |  |  |  |  |  | Gross |  |  |  |  |  | Gross |  |  |  |  |  | Gross
|  |  |  | Estimated |  | Unrealized |  | Estimated |  | Unrealized |  |  | Estimated |  | Unrealized |  | Estimated |  | Unrealized
Description of Securities (Millions) |  |  | Fair Value |  | Losses |  | Fair Value |  | Losses |  |  | Fair Value |  | Losses |  | Fair Value |  | Losses
State and municipal obligations |  | $ | 59 |  | $ | (2) |  | $ | 13 |  | $ | (2) |  | $ | ― |  | $ | ― |  | $ | 72 |  | $ | (2)
Foreign government bonds and |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| obligations |  |  | 31 |  |  | (1) |  |  | ― |  |  | ― |  |  | ― |  |  | ― |  |  | ― |  |  | ―
Other |  |  | ― |  |  | ― |  |  | 33 |  |  | (1) |  |  | ― |  |  | ― |  |  | 33 |  |  | (1)
Total |  | $ | 90 |  | $ | (3) |  | $ | 46 |  | $ | (3) |  | $ | ― |  | $ | ― |  | $ | 105 |  | $ | (3)
The following table summarizes the gross unrealized losses due to temporary impairments by ratio of fair value to amortized cost as of September 30, 2015 and December 31, 2014:
|  | Less than 12 months |  | 12 months or more |  | Total
Ratio of Fair Value to |  |  |  |  |  |  |  | Gross |  |  |  |  |  |  |  | Gross |  |  |  |  |  |  |  | Gross
Amortized Cost |  | Number of |  | Estimated |  | Unrealized |  | Number of |  | Estimated |  | Unrealized |  | Number of |  | Estimated |  | Unrealized
($ in Millions) |  | Securities |  | Fair Value |  | Losses |  | Securities |  | Fair Value |  | Losses |  | Securities |  | Fair Value |  | Losses
2015: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
90%–100% |  | 35 |  | $ | 88 |  | $ | (3) |  | 12 |  | $ | 37 |  | $ | (2) |  | 47 |  | $ | 125 |  | $ | (5)
Less than 90% |  | ― |  |  | ― |  |  | ― |  | 2 |  |  | 9 |  |  | (1) |  | 2 |  |  | 9 |  |  | (1)
Total as of September 30, 2015 |  | 35 |  | $ | 88 |  | $ | (3) |  | 14 |  | $ | 46 |  | $ | (3) |  | 49 |  | $ | 134 |  | $ | (6)
2014: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
90%–100% |  | ― |  | $ | ― |  | $ | ― |  | 15 |  | $ | 105 |  | $ | (3) |  | 15 |  | $ | 105 |  | $ | (3)
Total as of December 31, 2014 |  | ― |  | $ | ― |  | $ | ― |  | 15 |  | $ | 105 |  | $ | (3) |  | 15 |  | $ | 105 |  | $ | (3)
The gross unrealized losses are attributed to overall wider credit spreads for state and municipal securities, wider credit spreads for specific issuers, adverse changes in market benchmark interest rates, or a combination thereof, all as compared to those prevailing when the investment securities were acquired. Overall, for the investment securities in gross unrealized loss positions (i) the Company doe s not intend to sell the investment securities, (ii) it is more likely than not that the Company will not be required to sell the investment securities before recovery of the unrealized losses, and (iii) the Company expects that the contractual principal a nd interest will be received on the investment securities. As a result, the Company recognized no other-than-temporary impairment during the periods presented. Contractual maturities of investment securities with stated maturities as of September 30, 2015, were as follows:
|  |  |  |  |  |  | Estimated
(Millions) |  | Cost |  | Fair Value
Due within 1 year |  | $ | 459 |  | $ | 459
Due after 1 year but within 5 years |  |  | 324 |  |  | 331
Due after 5 years but within 10 years |  |  | 259 |  |  | 275
Due after 10 years |  |  | 2,746 |  |  | 2,832
Total (a) |  | $ | 3,788 |  | $ | 3,897
Balances primarily represent investments in state and municipal obligations, and foreign government bonds and obligations. The expected payments on state and municipal obligations and mortgage-backed securities may not coincide with their contractual maturities because the issuers have the right to call or prepay certain obligations. Supplemental Information Gross realized gains on the sales of investment securities, included in Other revenues, were $1 million for both the three and nine months ended September 30, 2015, and $20 million and $100 million for the three and nine months ended September 30, 2014, respectively. There were no realized losses during any of these periods.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Debt Security -URI http://asc.fasb.org/extlink&oid=6509901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27290-111563 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6379141&loc=d3e15032-111544 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27232-111563 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Equity Security -URI http://asc.fasb.org/extlink&oid=6511694 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27161-111563 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27357-111563 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27405-111563 + Details
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