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FAIR VALUE (Tables)
12 Months Ended
Dec. 31, 2018
Fair Value Disclosures [Abstract]  
Financial Assets Measured at Fair Value on Recurring Basis
The following table summarizes our fair value measurements at December 31, 2018 and 2017, 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, 2018
 
 
 
 
 
 
 
Cash equivalents
$
2,024

 
$
2,024

 
$

 
$

Debt securities:
 
 
 
 
 
 
 
U.S. Treasury and other U.S. government corporations and agencies:
 
 
 
 
 
 
 
U.S. Treasury and agency obligations
417

 

 
417

 

Mortgage-backed securities
2,544

 

 
2,544

 

Tax-exempt municipal securities
2,771

 

 
2,771

 

Mortgage-backed securities:
 
 
 
 
 
 
 
Residential
55

 

 
55

 

Commercial
523

 

 
523

 

Asset-backed securities
985

 

 
985

 

Corporate debt securities
3,142

 

 
3,142

 

Total debt securities
10,437

 

 
10,437

 

Total invested assets
$
12,461

 
$
2,024

 
$
10,437

 
$

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