XML 49 R9.htm IDEA: XBRL DOCUMENT v3.21.2

Investments

6 Months Ended

Jun. 30, 2021

Investments, Debt and Equity Securities [Abstract]

INVESTMENTS

INVESTMENTS

The amortized cost, gross unrealized gains, gross unrealized losses, and fair values of our AFS investments as of June 30, 2021 and December 31, 2020 are presented below:

			June 30, 2021															December 31, 2020
(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			$	44		$	—		$	—		$	44					$	24		$	—		$	—		$	24
Corporate bonds			167			2			—			169						126			2			—			128
U.S. government agencies and government- sponsored agencies			19			—			—			19						27			1			—			28
U.S. treasuries			312			3			—			315						261			4			—			265
Certificate of deposit			10			—			—			10						—			—			—			—
Other debt securities			8			—			—			8						6			—			—			6
Total			$	560		$	5		$	—		$	565					$	444		$	7		$	—		$	451

Gross unrealized losses were immaterial at June 30, 2021 and December 31, 2020.

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)						June 30, 2021
One year or less						$	188
Over one year through five years						340
Over five years through ten years						7
Over ten years						30
Total fair value						$	565

The gross proceeds from sales and maturities of AFS securities for the three and six months ended June 30, 2021 and June 30, 2020 are presented below. We had immaterial gross realized gains and losses from sales of investments for the three and six months ended June 30, 2021 and 2020.

			Three Months Ended June 30,									Six Months Ended June 30,
(in millions)			2021			2020						2021			2020
Gross proceeds from sales			$	39		$	12					$	80		$	52
Gross proceeds from maturities			32			40						75			67
Total			$	71		$	52					$	155		$	119

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

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1403
-Paragraph (b)

+ Details

Name:	us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration