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Investments (Tables)

6 Months Ended

Jun. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of Investments

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

			June 30, 2022
			Amortized Cost						Gross Unrealized												Estimated Fair Value
									Gains						Losses
			(In millions)
Corporate debt securities			$	2,372					$	2					$	106					$	2,268
Mortgage-backed securities			759						—						42						717
Asset-backed securities			306						—						13						293
Municipal securities			153						—						7						146
U.S. Treasury notes			96						—						—						96
Other			49						—						2						47
Total			$	3,735					$	2					$	170					$	3,567

			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
Municipal securities			123						1						1						123
U.S. Treasury notes			353						—						—						353
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 June 30, 2022 are summarized below:

			Amortized Cost						Estimated Fair Value
			(In millions)
Due in one year or less			$	340					$	338
Due after one year through five years			2,276						2,175
Due after five years through ten years			377						358
Due after ten years			742						696
Total			$	3,735					$	3,567

Schedule of Available-for-Sale Investments

The following table segregates those available-for-sale investments that have been in a continuous loss position for less than 12 months, and those that have been in a continuous loss position for 12 months or more as of June 30, 2022:

			In a Continuous Loss Position for Less than 12 Months																		In a Continuous Loss Position for 12 Months or More
			Estimated Fair Value						Unrealized Losses						Total Number of Positions						Estimated Fair Value						Unrealized Losses						Total Number of Positions
			(Dollars in millions)
Corporate debt securities			$	1,971					$	104					921						$	36					$	2					19
Mortgage-backed securities			647						40						273						50						2						26
Asset-backed securities			264						13						134						—						—						—
Municipal securities			100						7						124						—						—						—
Other			27						2						14						—						—						—
Total			$	3,009					$	166					1,466						$	86					$	4					45

The following table segregates those available-for-sale investments that have been in a continuous loss position for less than 12 months, and those that have been in a continuous loss position for 12 months or more as of December 31, 2021:

			In a Continuous Loss Position for Less than 12 Months																		In a Continuous Loss Position for 12 Months or More
			Estimated Fair Value						Unrealized Losses						Total Number of Positions						Estimated Fair Value						Unrealized Losses						Total Number of Positions
			(Dollars in millions)
Corporate debt securities			$	1,063					$	12					395						$	—					$	—					—
Mortgage-backed securities			408						4						146						—						—						—
Asset-backed securities			166						1						75						—						—						—
Municipal securities			69						1						61						—						—						—
Total			$	1,706					$	18					677						$	—					$	—					—

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 https://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 https://asc.fasb.org/extlink&oid=126970911&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 https://asc.fasb.org/extlink&oid=124269663&loc=SL82922888-210455

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