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Investments (Tables) | 3 Months Ended
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Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract] |
Available-for-Sale Investments | The following tables summarize our investments as of the dates indicated:
| March 31, 2020
| Amortized |  | Gross Unrealized |  | Estimated Fair
| Cost |  | Gains |  | Losses |  | Value
| (In millions)
Corporate debt securities | $ | 1,277 |  |  | $ | 4 |  |  | $ | 21 |  |  | $ | 1,260 |
Mortgage-backed securities | 453 |  |  | 6 |  |  | 8 |  |  | 451 |
Asset-backed securities | 144 |  |  | — |  |  | 1 |  |  | 143 |
Municipal securities | 138 |  |  | — |  |  | — |  |  | 138 |
Certificates of deposit | 7 |  |  | — |  |  | — |  |  | 7 |
GSEs | 6 |  |  | — |  |  | — |  |  | 6 |
U.S. Treasury notes | 5 |  |  | — |  |  | — |  |  | 5 |
Totals | $ | 2,030 |  |  | $ | 10 |  |  | $ | 30 |  |  | $ | 2,010 |
| December 31, 2019
| Amortized |  | Gross Unrealized |  | Estimated Fair
| Cost |  | Gains |  | Losses |  | Value
| (In millions)
Corporate debt securities | $ | 1,174 |  |  | $ | 5 |  |  | $ | 1 |  |  | $ | 1,178 |
Mortgage-backed securities | 420 |  |  | 1 |  |  | 1 |  |  | 420 |
Asset-backed securities | 126 |  |  | 1 |  |  | — |  |  | 127 |
Municipal securities | 78 |  |  | — |  |  | — |  |  | 78 |
Certificates of deposit | 1 |  |  | — |  |  | — |  |  | 1 |
GSEs | 49 |  |  | — |  |  | — |  |  | 49 |
U.S. Treasury notes | 86 |  |  | — |  |  | — |  |  | 86 |
Foreign securities | 7 |  |  | — |  |  | — |  |  | 7 |
Totals | $ | 1,941 |  |  | $ | 7 |  |  | $ | 2 |  |  | $ | 1,946 |
Contractual Maturities of Investments | The contractual maturities of our available-for-sale investments as of March 31, 2020 are summarized below:
| Amortized Cost |  | Estimated Fair Value
| (In millions)
Due in one year or less | $ | 375 |  |  | $ | 375 |
Due after one year through five years | 1,032 |  |  | 1,017 |
Due after five years through ten years | 183 |  |  | 181 |
Due after ten years | 440 |  |  | 437 |
Totals | $ | 2,030 |  |  | $ | 2,010 |
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 March 31, 2020:
| 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 | $ | 805 |  |  | $ | 21 |  |  | 627 |  |  | $ | — |  |  | $ | — |  |  | — |
Mortgage-backed securities | 211 |  |  | 8 |  |  | 128 |  |  | — |  |  | — |  |  | — |
Asset-backed securities | 90 |  |  | 1 |  |  | 70 |  |  | — |  |  | — |  |  | — |
Totals | $ | 1,106 |  |  | $ | 30 |  |  | 825 |  |  | $ | — |  |  | $ | — |  |  | — |
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, 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 | $ | 222 |  |  | $ | 1 |  |  | 167 |  |  | $ | — |  |  | $ | — |  |  | — |
Mortgage-backed securities | 143 |  |  | 1 |  |  | 72 |  |  | — |  |  | — |  |  | — |
Totals | $ | 365 |  |  | $ | 2 |  |  | 239 |  |  | $ | — |  |  | $ | — |  |  | — |

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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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