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Investments of Insurance Subsidiaries | 9 Months Ended
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Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract] |
Investments of Insurance Subsidiaries | NOTE 5 — INVESTMENTS OF INSURANCE SUBSIDIARIES A summary of our insurance subsidiaries’ investments at September 30, 2022 and December 31, 2021 follows (dollars in millions):
|  | September 30, 2022 |
|  |  |  |  | Unrealized Amounts |  |  |  |
|  | Amortized Cost |  |  | Gains |  |  | Losses |  |  | Fair Value |
Debt securities |  | $ | 410 |  |  | $ | — |  |  | $ | (41 | ) |  | $ | 369 |
Money market funds and other |  |  | 124 |  |  |  | — |  |  |  | — |  |  |  | 124 |
|  | $ | 534 |  |  | $ | — |  |  | $ | (41 | ) |  |  | 493 |
Amounts classified as current assets |  |  |  |  |  |  |  |  |  |  |  | (121 | )
Investment carrying value |  |  |  |  |  |  |  |  |  |  | $ | 372 |
NOTE 5 — INVESTMENTS OF INSURANCE SUBSIDIARIES (continued)
|  | December 31, 2021 |
|  |  |  |  | Unrealized Amounts |  |  |  |
|  | Amortized Cost |  |  | Gains |  |  | Losses |  |  | Fair Value |
Debt securities |  | $ | 400 |  |  | $ | 18 |  |  | $ | (2 | ) |  | $ | 416 |
Money market funds and other |  |  | 125 |  |  |  | — |  |  |  | — |  |  |  | 125 |
|  | $ | 525 |  |  | $ | 18 |  |  | $ | (2 | ) |  |  | 541 |
Amounts classified as current assets |  |  |  |  |  |  |  |  |  |  |  | (103 | )
Investment carrying value |  |  |  |  |  |  |  |  |  |  | $ | 438 |
At September 30, 2022 and December 31, 2021, the investments in debt securities of our insurance subsidiaries were classified as “available-for-sale.” Changes in unrealized gains and losses that are not credit-related are recorded as adjustments to other comprehensive income (loss). Scheduled maturities of investments in debt securities at September 30, 2022 were as follows (dollars in millions):
|  | Amortized Cost |  |  | Fair Value |
Due in one year or less |  | $ | 26 |  |  | $ | 26 |
Due after one year through five years |  |  | 127 |  |  |  | 121 |
Due after five years through ten years |  |  | 181 |  |  |  | 155 |
Due after ten years |  |  | 76 |  |  |  | 67 |
|  | $ | 410 |  |  | $ | 369 |
The average expected maturity of the investments in debt securities at September 30, 2022 was 5.8 years, compared to the average scheduled maturity of 8.7 years. Expected and scheduled maturities may differ because the issuers of certain securities have the right to call, prepay or otherwise redeem such obligations prior to their scheduled maturity date.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI https://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2176304 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) + Details
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