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Investments (Tables)

3 Months Ended

Mar. 31, 2021

Investments, Debt and Equity Securities [Abstract]

Investments

The following tables summarize our investments as of the dates indicated:

			March 31, 2021
			Amortized Cost						Gross Unrealized												Estimated Fair Value
									Gains						Losses
			(In millions)
Corporate debt securities			$	1,162					$	27					$	1					$	1,188
Mortgage-backed securities			424						6						1						429
Asset-backed securities			150						2						—						152
U.S. Treasury notes			97						—						—						97
Municipal securities			71						1						—						72
Total			$	1,904					$	36					$	2					$	1,938

			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
U.S. Treasury notes			27						—						—						27
Municipal securities			66						2						—						68
Total			$	1,826					$	50					$	1					$	1,875

Contractual maturities of investments

The contractual maturities of our available-for-sale investments as of March 31, 2021 are summarized below:

			Amortized Cost						Estimated Fair Value
			(In millions)
Due in one year or less			$	428					$	429
Due after one year through five years			948						974
Due after five years through ten years			167						169
Due after ten years			361						366
Total			$	1,904					$	1,938

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 March 31, 2021, and December 31, 2020.

			March 31, 2021																		December 31, 2020
			Estimated Fair Value						Unrealized Losses						Total Number of Positions						Estimated Fair Value						Unrealized Losses						Total Number of Positions
			(Dollars in millions)
Corporate debt securities			$	175					$	1					78						$	—					$	—					—
Mortgage-backed securities			101						1						34						77						1						21
Total			$	276					$	2					112						$	77					$	1					21

X

- Definition

Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=121590138&loc=SL82922954-210456

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 6
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121645371&loc=d3e27290-111563

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 30
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=121582814&loc=SL82922888-210455

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