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Investments (Tables) | 12 Months Ended
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Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract] |
Investments | The following tables summarize our current investments as of the dates indicated:
| December 31, 2020
| Amortized Cost |  | Gross Unrealized |  | Estimated Fair Value
|  | Gains |  | Losses |
| (In millions)
Corporate debt securities | $ | 1,220 |  |  | $ | 36 |  |  | $ | — |  |  | $ | 1,256 |
Mortgage-backed securities | 383 |  |  | 10 |  |  | 1 |  |  | 392 |
Asset-backed securities | 130 |  |  | 2 |  |  | — |  |  | 132 |
Municipal securities | 66 |  |  | 2 |  |  | — |  |  | 68 |
U.S. Treasury notes | 27 |  |  | — |  |  | — |  |  | 27 |
Total | $ | 1,826 |  |  | $ | 50 |  |  | $ | 1 |  |  | $ | 1,875 |
| 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 |
Asset-backed securities | 126 |  |  | 1 |  |  | — |  |  | 127 |
Municipal securities | 78 |  |  | — |  |  | — |  |  | 78 |
U.S. Treasury notes | 86 |  |  | — |  |  | — |  |  | 86 |
GSEs | 49 |  |  | — |  |  | — |  |  | 49 |
Certificate of deposit | 1 |  |  | — |  |  | — |  |  | 1 |
Other | 7 |  |  | — |  |  | — |  |  | 7 |
Total | $ | 1,941 |  |  | $ | 7 |  |  | $ | 2 |  |  | $ | 1,946 |
Contractual maturities of investments | The contractual maturities of our current investments as of December 31, 2020 are summarized below:
| Amortized Cost |  | Estimated Fair Value
| (In millions)
Due in one year or less | $ | 474 |  |  | $ | 475 |
Due after one year through five years | 892 |  |  | 926 |
Due after five years through ten years | 132 |  |  | 137 |
Due after ten years | 328 |  |  | 337 |
Total | $ | 1,826 |  |  | $ | 1,875 |
Available-for-sale investments | The following table summarizes those available-for-sale investments that have been in a continuous loss position for less than 12 months. No investments have been in a continuous loss position for 12 months or more as of December 31, 2020, and 2019.
| In a Continuous Loss Position for Less than 12 Months as of December 31, 2020 |  | In a Continuous Loss Position for Less than 12 Months as of December 31, 2019
| Estimated Fair Value |  | Unrealized Losses |  | Total Number of Positions |  | Estimated Fair Value |  | Unrealized Losses |  | Total Number of Positions
| (Dollars in millions)
Mortgage-backed securities | $ | 77 |  |  | $ | 1 |  |  | 21 |  |  | $ | 143 |  |  | $ | 1 |  |  | 72 |
Corporate debt securities | — |  |  | — |  |  | — |  |  | 222 |  |  | 1 |  |  | 167 |
Total | $ | 77 |  |  | $ | 1 |  |  | 21 |  |  | $ | 365 |  |  | $ | 2 |  |  | 239 |
Balances of restricted investments | The following table presents the balances of restricted investments:
| December 31,
| 2020 |  | 2019
| (In millions)
Florida | $ | 12 |  |  | $ | 12 |
New Mexico | 21 |  |  | 21 |
New York | 14 |  |  | 9 |
Ohio | 16 |  |  | 12 |
Other | 24 |  |  | 25 |
Magellan Complete Care | 49 |  |  | — |
Total Health Plans segment | $ | 136 |  |  | $ | 79 |

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