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Investments (Tables)

3 Months Ended

Mar. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Investments

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

			March 31, 2023
			Amortized Cost						Gross Unrealized												Estimated Fair Value
									Gains						Losses
			(In millions)
Corporate debt securities			$	2,428					$	6					$	99					$	2,335
Mortgage-backed securities			897						2						48						851
Asset-backed securities			337						—						14						323
Municipal securities			160						—						9						151
U.S. Treasury notes			123						—						—						123
Other			29						—						2						27
Total			$	3,974					$	8					$	172					$	3,810

			December 31, 2022
			Amortized Cost						Gross Unrealized												Estimated Fair Value
									Gains						Losses
			(In millions)
Corporate debt securities			$	2,303					$	2					$	121					$	2,184
Mortgage-backed securities			787						—						56						731
Asset-backed securities			308						—						20						288
Municipal securities			160						—						11						149
U.S. Treasury notes			106						—						1						105
Other			45						—						3						42
Total			$	3,709					$	2					$	212					$	3,499

Schedule of Contractual Maturities of Investments

The contractual maturities of our current investments as of March 31, 2023 are summarized below:

			Amortized Cost						Estimated Fair Value
			(In millions)
Due in one year or less			$	280					$	277
Due after one year through five years			2,340						2,245
Due after five years through ten years			455						443
Due after ten years			899						845
Total			$	3,974					$	3,810

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 March 31, 2023:

			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			$	719					$	15					480						$	1,107					$	84					510
Mortgage-backed securities			257						6						144						467						42						228
Asset-backed securities			134						2						76						133						12						73
Municipal securities			48						1						28						83						8						105
Other			8						1						9						10						1						7
Total			$	1,166					$	25					737						$	1,800					$	147					923

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, 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			$	1,124					$	45					683						$	887					$	76					371
Mortgage-backed securities			395						20						220						319						36						131
Asset-backed securities			161						6						108						118						14						59
Municipal securities			75						4						83						57						7						57
U.S. Treasury notes			88						1						6						—						—						—
Other			15						1						16						17						2						6
Total			$	1,858					$	77					1,116						$	1,398					$	135					624

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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