XML 33 R8.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Investments | 9 Months Ended
--- | ---
Sep. 30, 2018
Investments, Debt and Equity Securities [Abstract] |
INVESTMENTS | INVESTMENTS All of our investment securities that have a contractual maturity date greater than three months are classified as available-for-sale (AFS). The amortized cost, gross unrealized gains, gross unrealized losses, and fair values of our investments as of September 30, 2018 and December 31, 2017 are presented below:
| September 30, 2018
(in millions) | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value
Asset-backed securities | $ | 35 |  | $ | — |  | $ | — |  | $ | 35 |
Corporate bonds | 86 |  | — |  | — |  | 86 |
U.S. government agencies and government- sponsored agencies | 8 |  | — |  | — |  | 8 |
U.S. treasuries | 34 |  | — |  | — |  | 34 |
Exchange traded fund | 1 |  | — |  | — |  | 1 |
Other debt securities | 10 |  | — |  | — |  | 10 |
Total | $ | 174 |  | $ | — |  | $ | — |  | $ | 174 |
| December 31, 2017
(in millions) | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value
U.S. treasuries | $ | 37 |  | $ | — |  | $ | — |  | $ | 37 |
Exchange traded fund | 1 |  | — |  | — |  | 1 |
Total | $ | 38 |  | $ | — |  | $ | — |  | $ | 38 |
Investments in a continuous unrealized loss position for less than 12 months and 12 months or more as of September 30, 2018 and December 31, 2017 are presented below.
| September 30, 2018
| Less than 12 months | 12 months or more | Total
(in millions) | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses
Asset-backed securities | $ | 26 |  | $ | — |  | $ | — |  | $ | — |  | $ | 26 |  | $ | — |
Corporate bonds | 72 |  | — |  | — |  | — |  | 72 |  | — |
U.S. government agencies and government-sponsored agencies | 7 |  | — |  | — |  | — |  | 7 |  | — |
U.S. treasuries | 31 |  | — |  | — |  | — |  | 31 |  | — |
Exchange Traded Fund | 1 |  | — |  | — |  | — |  | 1 |  | — |
Other debt securities | 8 |  | — |  | — |  | — |  | 8 |  | — |
Total | $ | 145 |  | $ | — |  | $ | — |  | $ | — |  | $ | 145 |  | $ | — |
| December 31, 2017
| Less than 12 months | 12 months or more | Total
(in millions) | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses
U.S. treasuries | $ | 5 |  | $ | — |  | $ | 24 |  | $ | — |  | $ | 29 |  | $ | — |
Total | $ | 5 |  | $ | — |  | $ | 24 |  | $ | — |  | $ | 29 |  | $ | — |
Unrealized losses on fixed income securities are principally caused by changes in interest rates and the financial condition of the issuer. In analyzing an issuer's financial condition, we consider whether the securities are issued by the federal government or its agencies, whether downgrades by credit rating agencies have occurred, and industry analysts' reports. As we have the ability to hold these investments until maturity, or for the foreseeable future, no decline was deemed to be other-than-temporary. The fair value of debt investments by contractual maturity (actual maturities may differ from contractual maturities because borrowers may have the right to prepay obligations with or without prepayment penalties) are shown below.
| September 30, 2018
(in millions) | One year or less | Over One Year Through Five Years | Over Five Years Through Ten Years | Over Ten Years | Fair Value
Asset-backed securities | $ | 3 |  | $ | 29 |  | $ | 3 |  | $ | — |  | $ | 35 |
Corporate bonds | 32 |  | 54 |  | — |  | — |  | 86 |
U.S. government agencies and government-sponsored agencies | 1 |  | 2 |  | — |  | 5 |  | 8 |
U.S. treasuries | 7 |  | 27 |  | — |  | — |  | 34 |
Other debt securities | — |  | 1 |  | — |  | 9 |  | 10 |
Total | $ | 43 |  | $ | 113 |  | $ | 3 |  | $ | 14 |  | $ | 173 |
| December 31, 2017
(in millions) | One year or less | Over One Year Through Five Years | Over Five Years Through Ten Years | Over Ten Years | Fair Value
U.S. treasuries | $ | — |  | $ | 37 |  | $ | — |  | $ | — |  | $ | 37 |
Total | $ | — |  | $ | 37 |  | $ | — |  | $ | — |  | $ | 37 |
We had immaterial gross realized gains and losses from sales of investments for the three and nine months periods ended September 30, 2018 and 2017. Our asset-backed securities include auto loan/lease, credit card, and equipment leases with investment-grade ratings. Our corporate bonds include investment-grade debt securities from a wide variety of issuers, industries, and sectors. Our U.S. government agencies and government-sponsored agencies securities primarily include commercial mortgage-backed securities and mortgage backed securities consisting of Federal Home Loan Mortgage Corporation and Federal National Mortgage Association securities with investment-grade ratings. Our other debt securities primarily include mortgage-backed securities with investment-grade ratings issued by institutions without federal backing.

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 The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration