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Investments - (Notes) | 9 Months Ended
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Sep. 30, 2019
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 AFS. The amortized cost, gross unrealized gains, gross unrealized losses, and fair values of our investments as of September 30, 2019 and December 31, 2018 are presented below.
| September 30, 2019 |  | December 31, 2018
(in millions) | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value |  | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value
Asset-backed securities | $ | 30 |  | $ | — |  | $ | — |  | $ | 30 |  |  | $ | 33 |  | $ | — |  | $ | — |  | $ | 33 |
Corporate bonds | 97 |  | 1 |  | — |  | 98 |  |  | 99 |  | — |  | — |  | 99 |
U.S. government agencies and government- sponsored agencies | 5 |  | — |  | — |  | 5 |  |  | 7 |  | — |  | — |  | 7 |
U.S. treasuries | 54 |  | — |  | — |  | 54 |  |  | 46 |  | — |  | — |  | 46 |
Exchange traded fund | 1 |  | — |  | — |  | 1 |  |  | 1 |  | — |  | — |  | 1 |
Other debt securities | 7 |  | — |  | — |  | 7 |  |  | 9 |  | — |  | — |  | 9 |
Total | $ | 194 |  | $ | 1 |  | $ | — |  | $ | 195 |  |  | $ | 195 |  | $ | — |  | $ | — |  | $ | 195 |
Gross unrealized losses as of September 30, 2019 and December 31, 2018 were not material. 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. Actual maturities may differ from contractual maturities because borrowers may have the right to prepay obligations with or without prepayment penalties. The fair value of debt investments by contractual maturity are shown below:
(in millions) |  | September 30, 2019 |
One year or less |  | $ | 67 |  |
Over one year through five years |  | 112 |  |
Over five years through ten years |  | 6 |  |
Over ten years |  | 9 |  |
Total fair value |  | $ | 194 |  |
The gross proceeds from sales and maturities of AFS securities for the three and nine months ended September 30, 2019 and September 30, 2018 are presented below. We had immaterial realized gains and losses from sales of investments for the three and nine months ended September 30, 2019 and September 30, 2018.
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in millions) | 2019 | 2018 |  | 2019 | 2018
Gross proceeds from sales | $ | 24 |  | $ | 15 |  |  | $ | 52 |  | $ | 54 |
Gross proceeds from maturities | 25 |  | 9 |  |  | 61 |  | 33 |

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- 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
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