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Investments (Tables) | 6 Months Ended
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Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract] |
Available-for-Sale Investments | The following tables summarize our investments as of the dates indicated:
| June 30, 2020 |  |  |  |  |  |
| Amortized Cost |  | Gross Unrealized |  |  |  | Estimated Fair Value
|  |  | Gains |  | Losses |  |
| (In millions) |  |  |  |  |  |
Corporate debt securities | $ | 1,108 |  |  | $ | 33 |  |  | $ | 2 |  |  | $ | 1,139 |
Mortgage-backed securities | 433 |  |  | 9 |  |  | 3 |  |  | 439 |
Municipal securities | 174 |  |  | 2 |  |  | — |  |  | 176 |
Asset-backed securities | 136 |  |  | 3 |  |  | — |  |  | 139 |
Certificates of deposit | 7 |  |  | — |  |  | — |  |  | 7 |
U.S. Treasury notes | 4 |  |  | — |  |  | — |  |  | 4 |
GSEs | 2 |  |  | — |  |  | — |  |  | 2 |
Total | $ | 1,864 |  |  | $ | 47 |  |  | $ | 5 |  |  | $ | 1,906 |
| December 31, 2019 |  |  |  |  |  |
| Amortized Cost |  | Gross Unrealized |  |  |  | Estimated Fair Value
|  |  | Gains |  | Losses |  |
| (In millions) |  |  |  |  |  |
Corporate debt securities | $ | 1,174 |  |  | $ | 5 |  |  | $ | 1 |  |  | $ | 1,178 |
Mortgage-backed securities | 420 |  |  | 1 |  |  | 1 |  |  | 420 |
Municipal securities | 78 |  |  | — |  |  | — |  |  | 78 |
Asset-backed securities | 126 |  |  | 1 |  |  | — |  |  | 127 |
Certificates of deposit | 1 |  |  | — |  |  | — |  |  | 1 |
U.S. Treasury notes | 86 |  |  | — |  |  | — |  |  | 86 |
GSEs | 49 |  |  | — |  |  | — |  |  | 49 |
Other | 7 |  |  | — |  |  | — |  |  | 7 |
Total | $ | 1,941 |  |  | $ | 7 |  |  | $ | 2 |  |  | $ | 1,946 |
Contractual Maturities of Investments | The contractual maturities of our available-for-sale investments as of June 30, 2020 are summarized below:
| Amortized Cost |  | Estimated Fair Value
| (In millions) |  |
Due in one year or less | $ | 263 |  |  | $ | 265 |
Due after one year through five years | 979 |  |  | 1,009 |
Due after five years through ten years | 172 |  |  | 176 |
Due after ten years | 450 |  |  | 456 |
Total | $ | 1,864 |  |  | $ | 1,906 |
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 June 30, 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 | $ | 63 |  |  | $ | 2 |  |  | 29 |  |  | $ | — |  |  | $ | — |  |  | — |
Mortgage-backed securities | 53 |  |  | 3 |  |  | 34 |  |  | — |  |  | — |  |  | — |
Total | $ | 116 |  |  | $ | 5 |  |  | 63 |  |  | $ | — |  |  | $ | — |  |  | — |
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 |  |  | — |  |  | — |  |  | — |
Total | $ | 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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- Definition Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value. + References No definition available. + Details
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