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Investments (Tables) | 3 Months Ended
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Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract] |
Schedule of Investments | The following tables summarize our current investments as of the dates indicated:
| March 31, 2022
| Amortized Cost |  | Gross Unrealized |  | Estimated Fair Value
|  | Gains |  | Losses |
| (In millions)
Corporate debt securities | $ | 1,874 |  |  | $ | 1 |  |  | $ | 67 |  |  | $ | 1,808 |
Mortgage-backed securities | 622 |  |  | — |  |  | 24 |  |  | 598 |
Asset-backed securities | 261 |  |  | — |  |  | 9 |  |  | 252 |
U.S. Treasury notes | 174 |  |  | — |  |  | — |  |  | 174 |
Municipal securities | 123 |  |  | — |  |  | 6 |  |  | 117 |
Other | 40 |  |  | — |  |  | 1 |  |  | 39 |
Total | $ | 3,094 |  |  | $ | 1 |  |  | $ | 107 |  |  | $ | 2,988 |
| December 31, 2021
| Amortized Cost |  | Gross Unrealized |  | Estimated Fair Value
|  | Gains |  | Losses |
| (In millions)
Corporate debt securities | $ | 1,836 |  |  | $ | 9 |  |  | $ | 12 |  |  | $ | 1,833 |
Mortgage-backed securities | 616 |  |  | 2 |  |  | 4 |  |  | 614 |
Asset-backed securities | 248 |  |  | — |  |  | 1 |  |  | 247 |
U.S. Treasury notes | 353 |  |  | — |  |  | — |  |  | 353 |
Municipal securities | 123 |  |  | 1 |  |  | 1 |  |  | 123 |
Other | 32 |  |  | — |  |  | — |  |  | 32 |
Total | $ | 3,208 |  |  | $ | 12 |  |  | $ | 18 |  |  | $ | 3,202 |
Schedule of Contractual Maturities of Investments | The contractual maturities of our current investments as of March 31, 2022 are summarized below:
| Amortized Cost |  | Estimated Fair Value
| (In millions)
Due in one year or less | $ | 466 |  |  | $ | 466 |
Due after one year through five years | 1,733 |  |  | 1,668 |
Due after five years through ten years | 318 |  |  | 306 |
Due after ten years | 577 |  |  | 548 |
Total | $ | 3,094 |  |  | $ | 2,988 |
Schedule of 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, 2022, and December 31, 2021.
| March 31, 2022 |  | December 31, 2021
| Estimated Fair Value |  | Unrealized Losses |  | Total Number of Positions |  | Estimated Fair Value |  | Unrealized Losses |  | Total Number of Positions
| (Dollars in millions)
Corporate debt securities | $ | 1,516 |  |  | $ | 67 |  |  | 624 |  |  | $ | 1,063 |  |  | $ | 12 |  |  | 395 |
Mortgage-backed securities | 582 |  |  | 24 |  |  | 238 |  |  | 408 |  |  | 4 |  |  | 146 |
Asset-backed securities | 208 |  |  | 9 |  |  | 99 |  |  | 166 |  |  | 1 |  |  | 75 |
Municipal securities | 97 |  |  | 6 |  |  | 120 |  |  | 69 |  |  | 1 |  |  | 61 |
Other | 25 |  |  | 1 |  |  | 10 |  |  | — |  |  | — |  |  | — |
Total | $ | 2,428 |  |  | $ | 107 |  |  | 1,091 |  |  | $ | 1,706 |  |  | $ | 18 |  |  | 677 |

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