XML 38 R26.htm IDEA: XBRL DOCUMENT
v3.25.2

Investments (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
Investments, Debt and Equity Securities [Abstract] |
Schedule of Investments | The following tables summarize our current investments as of the dates indicated:
| June 30, 2025
| Amortized Cost |  | Gross Unrealized |  | Estimated Fair Value
|  | Gains |  | Losses |
| (In millions)
Corporate debt securities | $ | 2,630 |  |  | $ | 28 |  |  | $ | 15 |  |  | $ | 2,643 |
Mortgage-backed securities | 1,003 |  |  | 6 |  |  | 29 |  |  | 980 |
Asset-backed securities | 425 |  |  | 2 |  |  | 3 |  |  | 424 |
Municipal securities | 197 |  |  | 2 |  |  | 3 |  |  | 196 |
U.S. Treasury notes | 20 |  |  | — |  |  | — |  |  | 20 |
Other | 48 |  |  | — |  |  | 1 |  |  | 47 |
Total | $ | 4,323 |  |  | $ | 38 |  |  | $ | 51 |  |  | $ | 4,310 |
| December 31, 2024
| Amortized Cost |  | Gross Unrealized |  | Estimated Fair Value
|  | Gains |  | Losses |
| (In millions)
Corporate debt securities | $ | 2,769 |  |  | $ | 10 |  |  | $ | 35 |  |  | $ | 2,744 |
Mortgage-backed securities | 953 |  |  | 2 |  |  | 41 |  |  | 914 |
Asset-backed securities | 435 |  |  | 2 |  |  | 6 |  |  | 431 |
Municipal securities | 188 |  |  | — |  |  | 5 |  |  | 183 |
U.S. Treasury notes | 5 |  |  | — |  |  | — |  |  | 5 |
Other | 50 |  |  | — |  |  | 2 |  |  | 48 |
Total | $ | 4,400 |  |  | $ | 14 |  |  | $ | 89 |  |  | $ | 4,325 |
Schedule of Contractual Maturities of Investments | The contractual maturities of our current investments as of June 30, 2025 are summarized below:
| Amortized Cost |  | Estimated Fair Value
| (In millions)
Due in one year or less | $ | 602 |  |  | $ | 600 |
Due after one year through five years | 1,958 |  |  | 1,966 |
Due after five years through ten years | 578 |  |  | 583 |
Due after ten years | 1,185 |  |  | 1,161 |
Total | $ | 4,323 |  |  | $ | 4,310 |
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, 2025:
| 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 | $ | 236 |  |  | $ | 2 |  |  | 28 |  |  | $ | 594 |  |  | $ | 13 |  |  | 286 |
Mortgage-backed securities | 165 |  |  | 2 |  |  | 126 |  |  | 359 |  |  | 27 |  |  | 227 |
Asset-backed securities | — |  |  | — |  |  | — |  |  | 107 |  |  | 3 |  |  | 53 |
Municipal securities | — |  |  | — |  |  | — |  |  | 68 |  |  | 3 |  |  | 75 |
Other | — |  |  | — |  |  | — |  |  | 15 |  |  | 1 |  |  | 16 |
Total | $ | 401 |  |  | $ | 4 |  |  | 154 |  |  | $ | 1,143 |  |  | $ | 47 |  |  | 657 |
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, 2024:
| 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 | $ | 811 |  |  | $ | 10 |  |  | 541 |  |  | $ | 935 |  |  | $ | 25 |  |  | 449 |
Mortgage-backed securities | 271 |  |  | 5 |  |  | 197 |  |  | 406 |  |  | 36 |  |  | 244 |
Asset-backed securities | 84 |  |  | 1 |  |  | 48 |  |  | 143 |  |  | 5 |  |  | 73 |
Municipal securities | 38 |  |  | 1 |  |  | 27 |  |  | 95 |  |  | 4 |  |  | 89 |
Other | — |  |  | — |  |  | — |  |  | 15 |  |  | 2 |  |  | 16 |
Total | $ | 1,204 |  |  | $ | 17 |  |  | 813 |  |  | $ | 1,594 |  |  | $ | 72 |  |  | 871 |

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 -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 55 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479081/326-30-55-8 Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-6 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479106/326-30-50-4 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value. + References No definition available. + Details
Name: | us-gaap_ScheduleOfAvailableForSaleSecuritiesReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration