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Investments (Tables)

6 Months Ended

Jun. 30, 2021

Investments, Debt and Equity Securities [Abstract]

Investments

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

			June 30, 2021
			Amortized Cost						Gross Unrealized												Estimated Fair Value
									Gains						Losses
			(In millions)
Corporate debt securities			$	1,367					$	26					$	—					$	1,393
Mortgage-backed securities			542						7						1						548
Asset-backed securities			174						2						—						176
Municipal securities			74						1						—						75
U.S. Treasury notes			26						—						—						26
Other			23						—						—						23
Total			$	2,206					$	36					$	1					$	2,241

			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

Contractual maturities of investments

The contractual maturities of our available-for-sale investments as of June 30, 2021 are summarized below:

			Amortized Cost						Estimated Fair Value
			(In millions)
Due in one year or less			$	312					$	314
Due after one year through five years			1,200						1,225
Due after five years through ten years			264						267
Due after ten years			430						435
Total			$	2,206					$	2,241

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 June 30, 2021, and December 31, 2020.

			June 30, 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)
Mortgage-backed securities			$	154					$	1					62						$	77					$	1					21
Total			$	154					$	1					62						$	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=123581744&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=124269663&loc=SL82922888-210455

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