Investments - (Tables)

3 Months Ended

Mar. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of available-for-sale securities

The amortized cost, gross unrealized gains, gross unrealized losses, and fair value of our AFS investments as of March 31, 2022 and December 31, 2021 are presented below:


	March 31, 2022								December 31, 2021
(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	$	47	$	—	$	(2)	$	45	$	49	$	—	$	—	$	49
Corporate bonds	170		—		(4)		166		167		1		(1)		167
U.S. government agencies and government- sponsored agencies	16		—		(1)		15		17		—		—		17
U.S. treasuries	308		—		(6)		302		285		1		(1)		285

Certificate of deposit	11		—		—		11		11		—		—		11
Other debt securities	8		—		—		8		9		—		—		9
Total	$	560	$	—	$	(13)	$	547	$	538	$	2	$	(2)	$	538

The gross proceeds from sales and maturities of AFS securities for the three months ended March 31, 2022 and March 31, 2021 are presented below. We had immaterial gross realized gains and losses from sales of investments for the three months ended March 31, 2022 and 2021.


	Three Months Ended March 31,
(in millions)	2022		2021


Gross proceeds from sales	$	22	$	41
Gross proceeds from maturities	50		43
Total	$	72	$	84

Fair value of debt investments by contractual maturity

The fair value of debt investments by contractual maturity are shown below:


(in millions)	March 31, 2022
One year or less	$	233
Over one year through five years	280
Over five years through ten years	12
Over ten years	22
Total fair value	$	547