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Investments (Tables) | 9 Months Ended
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Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract] |
Schedule of Investments | The following tables summarize our current investments as of the dates indicated:
| September 30, 2022
| Amortized Cost |  | Gross Unrealized |  | Estimated Fair Value
|  | Gains |  | Losses |
| (In millions)
Corporate debt securities | $ | 2,431 |  |  | $ | — |  |  | $ | 148 |  |  | $ | 2,283 |
Mortgage-backed securities | 804 |  |  | — |  |  | 61 |  |  | 743 |
Asset-backed securities | 322 |  |  | — |  |  | 19 |  |  | 303 |
Municipal securities | 159 |  |  | — |  |  | 11 |  |  | 148 |
U.S. Treasury notes | 117 |  |  | — |  |  | 1 |  |  | 116 |
Other | 49 |  |  | — |  |  | 3 |  |  | 46 |
Total | $ | 3,882 |  |  | $ | — |  |  | $ | 243 |  |  | $ | 3,639 |
| 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 September 30, 2022 are summarized below:
| Amortized Cost |  | Estimated Fair Value
| (In millions)
Due in one year or less | $ | 378 |  |  | $ | 374 |
Due after one year through five years | 2,330 |  |  | 2,186 |
Due after five years through ten years | 390 |  |  | 364 |
Due after ten years | 784 |  |  | 715 |
Total | $ | 3,882 |  |  | $ | 3,639 |
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 September 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 | $ | 1,764 |  |  | $ | 103 |  |  | 909 |  |  | $ | 433 |  |  | $ | 45 |  |  | 167 |
Mortgage-backed securities | 555 |  |  | 36 |  |  | 282 |  |  | 188 |  |  | 25 |  |  | 75 |
Asset-backed securities | 242 |  |  | 13 |  |  | 128 |  |  | 56 |  |  | 6 |  |  | 28 |
Municipal securities | 106 |  |  | 7 |  |  | 110 |  |  | 31 |  |  | 4 |  |  | 35 |
U.S. Treasury notes | 116 |  |  | 1 |  |  | 8 |  |  | — |  |  | — |  |  | — |
Other | 32 |  |  | 3 |  |  | 20 |  |  | — |  |  | — |  |  | — |
Total | $ | 2,815 |  |  | $ | 163 |  |  | 1,457 |  |  | $ | 708 |  |  | $ | 80 |  |  | 305 |
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 |  |  | $ | — |  |  | $ | — |  |  | — |

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