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Investments (Tables) | 9 Months Ended
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Sep. 30, 2020
Regulated Entity, Other Assets, Noncurrent [Abstract] |
Amortized Cost and Fair Value of the Trust Investments | The following table sets forth amortized cost and fair value of the trust investments (see Note 4 for a discussion of fair value of the trust investments):
| Longest Maturity Dates |  | Amortized Cost |  |  |  | Fair Value |  |
(in millions) |  |  | September 30, 2020 |  | December 31, 2019 |  | September 30, 2020 |  | December 31, 2019
Stocks | — |  | N/A |  | N/A |  | $ | 1,753 |  |  | $ | 1,765 |
Municipal bonds | 2057 |  | $ | 1,048 |  |  | $ | 822 |  |  | 1,240 |  |  | 970 |
U.S. government and agency securities | 2067 |  | 707 |  |  | 996 |  |  | 846 |  |  | 1,115 |
Corporate bonds | 2070 |  | 479 |  |  | 597 |  |  | 565 |  |  | 679 |
Short-term investments and receivables/payables1 | One-year |  | 236 |  |  | 32 |  |  | 246 |  |  | 33 |
Total |  |  | $ | 2,470 |  |  | $ | 2,447 |  |  | $ | 4,650 |  |  | $ | 4,562 |
1 Short-term investments include $122 million and $41 million of repurchase agreements payable by financial institutions which earn interest, are fully secured by U.S. Treasury securities and mature by October 1, 2020 and January 2, 2020 as of September 30, 2020 and December 31, 2019, respectively.
Gains and (Losses) for Equity Securities | The following table summarizes the gains and losses for the trust investments:
| Three months ended September 30, |  |  |  | Nine months ended September 30, |  |
(in millions) | 2020 |  | 2019 |  | 2020 |  | 2019
Gross realized gains | $ | 51 |  |  | $ | 19 |  |  | $ | 165 |  |  | $ | 64 |
Gross realized loss | (2) |  |  | (1) |  |  | (5) |  |  | (1) |
Net unrealized gains for equity securities | 110 |  |  | 3 |  |  | 5 |  |  | 209 |

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