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INVESTMENT SECURITIES (Tables) | 9 Months Ended
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Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract] |
Schedule of Investment Securities Classified as Current and Long-Term | Investment securities classified as current and long-term were as follows at September 30, 2025 and December 31, 2024, respectively:
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
| (in millions)
September 30, 2025 |  |  |  |  |  |  |
U.S. Treasury and other U.S. government corporations and agencies: |  |  |  |  |  |  |
U.S. Treasury and agency obligations | $ | 2,713 |  |  | $ | 2 |  |  | $ | (40) |  |  | $ | 2,675 |
Mortgage-backed securities | 3,881 |  |  | 6 |  |  | (363) |  |  | 3,524 |
Tax-exempt municipal securities | 456 |  |  | — |  |  | (17) |  |  | 439 |
Mortgage-backed securities: |  |  |  |  |  |  |
Residential | 616 |  |  | 3 |  |  | (49) |  |  | 570 |
Commercial | 1,200 |  |  | 2 |  |  | (53) |  |  | 1,149 |
Asset-backed securities | 1,029 |  |  | 6 |  |  | (13) |  |  | 1,022 |
Corporate debt securities | 8,145 |  |  | 36 |  |  | (384) |  |  | 7,797 |
Total debt securities | $ | 18,040 |  |  | $ | 55 |  |  | $ | (919) |  |  | $ | 17,176 |
December 31, 2024 |  |  |  |  |  |  |
U.S. Treasury and other U.S. government corporations and agencies: |  |  |  |  |  |  |
U.S. Treasury and agency obligations | $ | 3,336 |  |  | $ | 1 |  |  | $ | (110) |  |  | $ | 3,227 |
Mortgage-backed securities | 4,504 |  |  | — |  |  | (509) |  |  | 3,995 |
Tax-exempt municipal securities | 548 |  |  | — |  |  | (22) |  |  | 526 |
Mortgage-backed securities: |  |  |  |  |  |  |
Residential | 586 |  |  | — |  |  | (64) |  |  | 522 |
Commercial | 1,290 |  |  | 1 |  |  | (85) |  |  | 1,206 |
Asset-backed securities | 1,424 |  |  | 3 |  |  | (24) |  |  | 1,403 |
Corporate debt securities | 8,330 |  |  | 21 |  |  | (595) |  |  | 7,756 |
Total debt securities | $ | 20,018 |  |  | $ | 26 |  |  | $ | (1,409) |  |  | $ | 18,635 |
Schedule of Gross Unrealized Losses and Fair Value by Investment Category | Gross unrealized losses and fair values aggregated by investment category and length of time of individual debt securities that have been in a continuous unrealized loss position for which no allowances for credit loss has been recorded were as follows at September 30, 2025 and December 31, 2024, respectively:
| Less than 12 months |  | 12 months or more |  | Total
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
| (in millions)
September 30, 2025 |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and other U.S. government corporations and agencies: |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and agency obligations | $ | 1,270 |  |  | $ | (9) |  |  | $ | 710 |  |  | $ | (31) |  |  | $ | 1,980 |  |  | $ | (40) |
Mortgage-backed securities | 623 |  |  | (4) |  |  | 2,388 |  |  | (359) |  |  | 3,011 |  |  | (363) |
Tax-exempt municipal securities | 64 |  |  | (1) |  |  | 354 |  |  | (16) |  |  | 418 |  |  | (17) |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |
Residential | 7 |  |  | — |  |  | 331 |  |  | (49) |  |  | 338 |  |  | (49) |
Commercial | 83 |  |  | — |  |  | 862 |  |  | (53) |  |  | 945 |  |  | (53) |
Asset-backed securities | 153 |  |  | (2) |  |  | 278 |  |  | (11) |  |  | 431 |  |  | (13) |
Corporate debt securities | 788 |  |  | (3) |  |  | 3,839 |  |  | (381) |  |  | 4,627 |  |  | (384) |
Total debt securities | $ | 2,988 |  |  | $ | (19) |  |  | $ | 8,762 |  |  | $ | (900) |  |  | $ | 11,750 |  |  | $ | (919) |
December 31, 2024 |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and other U.S. government corporations and agencies: |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and agency obligations | $ | 2,343 |  |  | $ | (68) |  |  | $ | 456 |  |  | $ | (42) |  |  | $ | 2,799 |  |  | $ | (110) |
Mortgage-backed securities | 1,766 |  |  | (50) |  |  | 2,203 |  |  | (459) |  |  | 3,969 |  |  | (509) |
Tax-exempt municipal securities | 97 |  |  | (1) |  |  | 405 |  |  | (21) |  |  | 502 |  |  | (22) |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |
Residential | 130 |  |  | (2) |  |  | 343 |  |  | (62) |  |  | 473 |  |  | (64) |
Commercial | 58 |  |  | (1) |  |  | 992 |  |  | (84) |  |  | 1,050 |  |  | (85) |
Asset-backed securities | 419 |  |  | (5) |  |  | 436 |  |  | (19) |  |  | 855 |  |  | (24) |
Corporate debt securities | 2,385 |  |  | (51) |  |  | 4,269 |  |  | (544) |  |  | 6,654 |  |  | (595) |
Total debt securities | $ | 7,198 |  |  | $ | (178) |  |  | $ | 9,104 |  |  | $ | (1,231) |  |  | $ | 16,302 |  |  | $ | (1,409) |
Schedule of Gains (Losses) Related to Investment Securities Included Within Investment Income | The detail of gains (losses) related to investment securities and included within investment income was as follows for the three and nine months ended September 30, 2025 and 2024:
| Three months ended September 30, |  | Nine months ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| (in millions) |  | (in millions)
Gross gains on investment securities | $ | 54 |  |  | $ | 14 |  |  | $ | 72 |  |  | $ | 16 |
Gross losses on investment securities | (1) |  |  | (4) |  |  | (6) |  |  | (6) |
Net recognized gains on investment securities | $ | 53 |  |  | $ | 10 |  |  | $ | 66 |  |  | $ | 10 |
Schedule of Contractual Maturities of Debt Securities Available for Sale | The contractual maturities of debt securities available for sale at September 30, 2025, regardless of their balance sheet classification, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
| Amortized Cost |  | Fair Value
| (in millions)
Due within one year | $ | 1,126 |  |  | $ | 1,121 |
Due after one year through five years | 4,696 |  |  | 4,610 |
Due after five years through ten years | 4,128 |  |  | 4,002 |
Due after ten years | 1,364 |  |  | 1,178 |
Mortgage and asset-backed securities | 6,726 |  |  | 6,265 |
Total debt securities | $ | 18,040 |  |  | $ | 17,176 |

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- Definition Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-9 + Details
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