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Investments (Tables) | 9 Months Ended
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Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract] |
Available-for-Sale Investments | The following tables summarize our investments as of the dates indicated:
| September 30, 2020
| Amortized Cost |  | Gross Unrealized |  | Estimated Fair Value
|  | Gains |  | Losses |
| (In millions)
Corporate debt securities | $ | 1,007 |  |  | $ | 35 |  |  | $ | 1 |  |  | $ | 1,041 |
Mortgage-backed securities | 408 |  |  | 10 |  |  | 1 |  |  | 417 |
Municipal securities | 166 |  |  | 2 |  |  | — |  |  | 168 |
Asset-backed securities | 133 |  |  | 3 |  |  | — |  |  | 136 |
Certificates of deposit | 5 |  |  | — |  |  | — |  |  | 5 |
U.S. Treasury notes | 2 |  |  | — |  |  | — |  |  | 2 |
Total | $ | 1,721 |  |  | $ | 50 |  |  | $ | 2 |  |  | $ | 1,769 |
| 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 September 30, 2020 are summarized below:
| Amortized Cost |  | Estimated Fair Value
| (In millions)
Due in one year or less | $ | 193 |  |  | $ | 195 |
Due after one year through five years | 943 |  |  | 975 |
Due after five years through ten years | 160 |  |  | 165 |
Due after ten years | 425 |  |  | 434 |
Total | $ | 1,721 |  |  | $ | 1,769 |
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 as of September 30, 2020 and December 31, 2019:
| September 30, 2020 |  | December 31, 2019
| Estimated Fair Value |  | Unrealized Losses |  | Total Number of Positions |  | Estimated Fair Value |  | Unrealized Losses |  | Total Number of Positions
| (Dollars in millions)
Corporate debt securities | $ | 35 |  |  | $ | 1 |  |  | 18 |  |  | $ | 222 |  |  | $ | 1 |  |  | 167 |
Mortgage-backed securities | 104 |  |  | 1 |  |  | 7 |  |  | 143 |  |  | 1 |  |  | 72 |
Total | $ | 139 |  |  | $ | 2 |  |  | 25 |  |  | $ | 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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