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Investments (Tables) | 3 Months Ended
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Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract] |
Investments | The following tables summarize our investments as of the dates indicated:
| March 31, 2018
| Amortized |  | Gross Unrealized |  | Estimated Fair
| Cost |  | Gains |  | Losses |  | Value
| (In millions)
Corporate debt securities | $ | 1,627 |  |  | $ | — |  |  | $ | 9 |  |  | $ | 1,618 |
U.S. treasury notes | 330 |  |  | — |  |  | 1 |  |  | 329 |
GSEs | 229 |  |  | — |  |  | 2 |  |  | 227 |
Municipal securities | 133 |  |  | — |  |  | 2 |  |  | 131 |
Asset backed securities | 111 |  |  | — |  |  | 1 |  |  | 110 |
Certificates of deposit | 27 |  |  | — |  |  | — |  |  | 27 |
Other | 2 |  |  | — |  |  | — |  |  | 2 |
Subtotal - current investments | 2,459 |  |  | — |  |  | 15 |  |  | 2,444 |
Corporate debt securities | 66 |  |  | — |  |  | — |  |  | 66 |
U.S. treasury notes | 11 |  |  | — |  |  | — |  |  | 11 |
Subtotal - current restricted investments | 77 |  |  | — |  |  | — |  |  | 77 |
| $ | 2,536 |  |  | $ | — |  |  | $ | 15 |  |  | $ | 2,521 |
| December 31, 2017
| Amortized |  | Gross Unrealized |  | Estimated Fair
| Cost |  | Gains |  | Losses |  | Value
| (In millions)
Corporate debt securities | $ | 1,591 |  |  | $ | 1 |  |  | $ | 4 |  |  | $ | 1,588 |
U.S. treasury notes | 389 |  |  | — |  |  | 1 |  |  | 388 |
GSEs | 255 |  |  | — |  |  | 2 |  |  | 253 |
Municipal securities | 142 |  |  | — |  |  | 1 |  |  | 141 |
Asset-backed securities | 117 |  |  | — |  |  | — |  |  | 117 |
Certificates of deposit | 37 |  |  | — |  |  | — |  |  | 37 |
Subtotal - current investments | 2,531 |  |  | 1 |  |  | 8 |  |  | 2,524 |
Corporate debt securities | 101 |  |  | — |  |  | — |  |  | 101 |
U.S. treasury notes | 68 |  |  | — |  |  | — |  |  | 68 |
Subtotal - current restricted investments | 169 |  |  | — |  |  | — |  |  | 169 |
| $ | 2,700 |  |  | $ | 1 |  |  | $ | 8 |  |  | $ | 2,693 |
Contractual maturities of investments | The contractual maturities of our held-to-maturity restricted investments, which are carried at amortized cost, which approximates fair value, as of March 31, 2018, are summarized below:
| Amortized Cost |  | Estimated Fair Value
| (In millions)
Due in one year or less | $ | 117 |  |  | $ | 117 |
Due after one year through five years | 3 |  |  | 3 |
| $ | 120 |  |  | $ | 120 |
The contractual maturities of our available-for-sale investments as of March 31, 2018 are summarized below:
| Amortized Cost |  | Estimated Fair Value
| (In millions)
Due in one year or less | $ | 1,576 |  |  | $ | 1,573 |
Due after one year through five years | 959 |  |  | 947 |
Due after five years through ten years | 1 |  |  | 1 |
| $ | 2,536 |  |  | $ | 2,521 |
Schedule of available for sale securities continuous unrealized loss position | The following table segregates those available-for-sale investments that have been in a continuous loss position for less than 12 months, and those that have been in a continuous loss position for 12 months or more as of March 31, 2018:
| In a Continuous Loss Position for Less than 12 Months |  | In a Continuous Loss Position for 12 Months or More
| Estimated Fair Value |  | Unrealized Losses |  | Total Number of Positions |  | Estimated Fair Value |  | Unrealized Losses |  | Total Number of Positions
| (Dollars in millions)
Corporate debt securities | $ | 1,276 |  |  | $ | 7 |  |  | 610 |  |  | $ | 93 |  |  | $ | 2 |  |  | 71 |
U.S. Treasury notes | 364 |  |  | 1 |  |  | 81 |  |  | — |  |  | — |  |  | — |
GSEs | 179 |  |  | 1 |  |  | 67 |  |  | 95 |  |  | 1 |  |  | 47 |
Municipal securities | 85 |  |  | 1 |  |  | 97 |  |  | 38 |  |  | 1 |  |  | 46 |
Asset backed securities | 97 |  |  | 1 |  |  | 60 |  |  | — |  |  | — |  |  | — |
| $ | 2,001 |  |  | $ | 11 |  |  | 915 |  |  | $ | 226 |  |  | $ | 4 |  |  | 164 |
The following table segregates those available-for-sale investments that have been in a continuous loss position for less than 12 months, and those that have been in a continuous loss position for 12 months or more as of December 31, 2017:
| In a Continuous Loss Position for Less than 12 Months |  | In a Continuous Loss Position for 12 Months or More
| Estimated Fair Value |  | Unrealized Losses |  | Total Number of Positions |  | Estimated Fair Value |  | Unrealized Losses |  | Total Number of Positions
| (Dollars in millions)
Corporate debt securities | $ | 1,297 |  |  | $ | 3 |  |  | 561 |  |  | $ | 94 |  |  | $ | 1 |  |  | 69 |
U.S. Treasury Notes | 470 |  |  | 1 |  |  | 89 |  |  | — |  |  | — |  |  | — |
GSEs | 173 |  |  | 1 |  |  | 69 |  |  | 95 |  |  | 1 |  |  | 47 |
Municipal securities | — |  |  | — |  |  | — |  |  | 38 |  |  | 1 |  |  | 48 |
| $ | 1,940 |  |  | $ | 5 |  |  | 719 |  |  | $ | 227 |  |  | $ | 3 |  |  | 164 |

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