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Investments (Tables)
12 Months Ended
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Schedule of Investments The following tables summarize our current investments as of the dates indicated:
December 31, 2023
Amortized
Cost
Gross
Unrealized
Estimated
Fair Value
GainsLosses
(In millions)
Corporate debt securities$2,781 $16 $65 $2,732 
Mortgage-backed securities951 44 911 
Asset-backed securities376 12 365 
Municipal securities172 — 166 
U.S. Treasury notes
40 — — 40 
Other47 — 45 
Total$4,367 $21 $129 $4,259 
December 31, 2022
Amortized
Cost
Gross
Unrealized
Estimated
Fair Value
GainsLosses
(In millions)
Corporate debt securities$2,303 $$121 $2,184 
Mortgage-backed securities787 — 56 731 
Asset-backed securities308 — 20 288 
Municipal securities160 — 11 149 
U.S. Treasury notes
106 — 105 
Other45 — 42 
Total$3,709 $$212 $3,499 
Schedule of Contractual Maturities of Investments The contractual maturities of our current investments as of December 31, 2023 are summarized below:
Amortized
Cost
Estimated
Fair Value
(In millions)
Due in one year or less$538 $530 
Due after one year through five years2,437 2,384 
Due after five years through ten years406 405 
Due after ten years986 940 
Total$4,367 $4,259 
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 December 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 PositionsEstimated
Fair
Value
Unrealized
Losses
Total Number of Positions
 (Dollars in millions)
Corporate debt securities$263 $160 $1,553 $64 754 
Mortgage-backed securities
123 98 549 42 283 
Asset-backed securities— — — 195 12 91 
Municipal securities— — — 117 116 
Other
— — — 17 17 
Total$386 $258 $2,431 $126 1,261 
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 PositionsEstimated
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 securities161 108 118 14 59 
Municipal securities75 83 57 57 
U.S. Treasury notes88 — — — 
Other
15 16 17 
Total$1,858 $77 1,116 $1,398 $135 624 
Schedule of Balances of Restricted Investments
The following table presents the balances of restricted investments:
December 31,
20232022
(In millions)
Cash and cash equivalents$60 $42 
U.S. Treasury notes167 159 
Corporate debt securities34 37 
Total restricted investments$261 $238