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Investments (Tables) | 9 Months Ended
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Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract] |
Available-for-Sale Investments | The following tables summarize our investments as of the dates indicated:
| September 30, 2019
| Amortized |  | Gross Unrealized |  | Estimated Fair
| Cost |  | Gains |  | Losses |  | Value
| (In millions)
Corporate debt securities | $ | 1,125 |  |  | $ | 5 |  |  | $ | 1 |  |  | $ | 1,129 |
Mortgage-backed securities | 302 |  |  | 1 |  |  | — |  |  | 303 |
Asset-backed securities | 109 |  |  | 1 |  |  | — |  |  | 110 |
GSEs | 97 |  |  | — |  |  | — |  |  | 97 |
Municipal securities | 68 |  |  | — |  |  | — |  |  | 68 |
U.S. Treasury notes | 40 |  |  | — |  |  | — |  |  | 40 |
Foreign securities | 7 |  |  | — |  |  | — |  |  | 7 |
Certificates of deposit | 3 |  |  | — |  |  | — |  |  | 3 |
Totals | $ | 1,751 |  |  | $ | 7 |  |  | $ | 1 |  |  | $ | 1,757 |
| December 31, 2018
| Amortized |  | Gross Unrealized |  | Estimated Fair
| Cost |  | Gains |  | Losses |  | Value
| (In millions)
Corporate debt securities | $ | 1,131 |  |  | $ | — |  |  | $ | 8 |  |  | $ | 1,123 |
Asset-backed securities | 83 |  |  | — |  |  | 1 |  |  | 82 |
GSEs | 164 |  |  | — |  |  | 1 |  |  | 163 |
Municipal securities | 115 |  |  | — |  |  | 1 |  |  | 114 |
U.S. Treasury notes | 181 |  |  | — |  |  | — |  |  | 181 |
Foreign securities | 4 |  |  | — |  |  | — |  |  | 4 |
Certificates of deposit | 14 |  |  | — |  |  | — |  |  | 14 |
Totals | $ | 1,692 |  |  | $ | — |  |  | $ | 11 |  |  | $ | 1,681 |
Contractual Maturities of Investments | The contractual maturities of our available-for-sale investments as of September 30, 2019 are summarized below:
| Amortized Cost |  | Estimated Fair Value
| (In millions)
Due in one year or less | $ | 498 |  |  | $ | 498 |
Due after one year through five years | 875 |  |  | 878 |
Due after five years through ten years | 107 |  |  | 108 |
Due after ten years | 271 |  |  | 273 |
Totals | $ | 1,751 |  |  | $ | 1,757 |
Available-for-Sale Investments in a Continuous 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 September 30, 2019:
| 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 | $ | 151 |  |  | $ | 1 |  |  | 90 |  |  | $ | — |  |  | $ | — |  |  | — |
Totals | $ | 151 |  |  | $ | 1 |  |  | 90 |  |  | $ | — |  |  | $ | — |  |  | — |
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, 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 | $ | 509 |  |  | $ | 3 |  |  | 285 |  |  | $ | 412 |  |  | $ | 5 |  |  | 298 |
Asset-backed securities | — |  |  | — |  |  | — |  |  | 68 |  |  | 1 |  |  | 52 |
GSEs | — |  |  | — |  |  | — |  |  | 127 |  |  | 1 |  |  | 76 |
Municipal securities | — |  |  | — |  |  | — |  |  | 87 |  |  | 1 |  |  | 90 |
Totals | $ | 509 |  |  | $ | 3 |  |  | 285 |  |  | $ | 694 |  |  | $ | 8 |  |  | 516 |

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- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 + Details
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