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FAIR VALUE (Tables)
 12 Months Ended
Dec. 31, 2017
Fair Value Disclosures [Abstract]  
Financial Assets Measured at Fair Value on Recurring Basis
The following table summarizes our fair value measurements at December 31, 2017 and 2016, respectively, for financial assets measured at fair value on a recurring basis:
 
 
 
Fair Value Measurements Using
 
Fair Value
 
Quoted Prices
in Active
Markets
(Level 1)
 
Other
Observable
Inputs
(Level 2)
 
Unobservable
Inputs
(Level 3)
 
(in millions)
December 31, 2017
 
 
 
 
 
 
 
Cash equivalents
$
4,564

 
$
4,564

 
$
—

 
$
—

Debt securities:
 
 
 
 
 
 
 
U.S. Treasury and other U.S. government corporations and agencies:
 
 
 
 
 
 
 
U.S. Treasury and agency obligations
531

 
—

 
531

 
—

Mortgage-backed securities
1,610

 
—

 
1,610

 
—

Tax-exempt municipal securities
3,889

 
—

 
3,889

 
—

Mortgage-backed securities:
 
 
 
 
 
 
 
Residential
26

 
—

 
26

 
—

Commercial
456

 
—

 
456

 
—

Asset-backed securities
408

 
—

 
408

 
—

Corporate debt securities
5,382

 
—

 
5,381

 
1

Total debt securities
12,302

 
—

 
12,301

 
1

Total invested assets
$
16,866

 
$
4,564

 
$
12,301

 
$
1

December 31, 2016
 
 
 
 
 
 
 
Cash equivalents
$
3,654

 
$
3,654

 
$
—

 
$
—

Debt securities:
 
 
 
 
 
 
 
U.S. Treasury and other U.S. government corporations and agencies:
 
 
 
 
 
 
 
U.S. Treasury and agency obligations
786

 
—

 
786

 
—

Mortgage-backed securities
1,637

 
—

 
1,637

 
—

Tax-exempt municipal securities
3,305

 
—

 
3,302

 
3

Mortgage-backed securities:
 
 
 
 
 
 
 
Residential
9

 
—

 
9

 
—

Commercial
304

 
—

 
304

 
—

Asset-backed securities
160

 
—

 
160

 
—

Corporate debt securities
3,597

 
—

 
3,593

 
4

Total debt securities
9,798

 
—

 
9,791

 
7

Total invested assets
$
13,452

 
$
3,654

 
$
9,791

 
$
7
Changes in Fair Value of Assets Measured Using Significant Unobservable Inputs
During the years ended December 31, 2017, 2016, and 2015, the changes in the fair value of the assets measured using significant unobservable inputs (Level 3) were comprised of the following:
 
For the years ended December 31,
 
2017
 
2016
 
2015
 
Private
Placements
 
Auction
Rate
Securities
 
Total
 
Private
Placements
 
Auction
Rate
Securities
 
Total
 
Private
Placements
 
Auction
Rate
Securities
 
Total
 
(in millions)
Beginning balance at January 1
$
4

 
$
3

 
$
7

 
$
6

 
$
5

 
$
11

 
$
24

 
$
8

 
$
32

Total gains or losses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Realized in earnings
—

 
—

 
—

 
—

 
—

 
—

 
(1
)
 
—

 
(1
)
Unrealized in other
comprehensive income
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Purchases
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Sales
(3
)
 
—

 
(3
)
 
—

 
—

 
—

 
(17
)
 
(3
)
 
(20
)
Settlements
—

 
(3
)
 
(3
)
 
(2
)
 
(2
)
 
(4
)
 
—

 
—

 
—

Balance at December 31
$
1

 
$
—

 
$
1

 
$
4

 
$
3

 
$
7

 
$
6

 
$
5

 
$
11