FAIR VALUE (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Financial Assets Measured at Fair Value on Recurring Basis

The following table summarizes our fair value measurements at March 31, 2020 and December 31, 2019, 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)
March 31, 2020
Cash equivalents	$	5,857	$	5,857	$	—	$	—
Debt securities:
U.S. Treasury and other U.S. government corporations and agencies:
U.S. Treasury and agency obligations	398		—		398		—
Mortgage-backed securities	3,597		—		3,597		—
Tax-exempt municipal securities	1,553		—		1,553		—
Mortgage-backed securities:
Commercial	822		—		822		—
Asset-backed securities	1,081		—		1,081		—
Corporate debt securities	4,046		—		4,046		—
Total debt securities	11,497		—		11,497		—
Total invested assets	$	17,354	$	5,857	$	11,497	$	—
December 31, 2019
Cash equivalents	$	3,660	$	3,660	$	—	$	—
Debt securities:
U.S. Treasury and other U.S. government corporations and agencies:
U.S. Treasury and agency obligations	354		—		354		—
Mortgage-backed securities	3,710		—		3,710		—
Tax-exempt municipal securities	1,463		—		1,463		—
Mortgage-backed securities:
Commercial	804		—		804		—
Asset-backed securities	1,093		—		1,093		—
Corporate debt securities	3,947		—		3,947		—
Total debt securities	11,371		—		11,371		—
Common stock	7		7		—		—
Total invested assets	$	15,038	$	3,667	$	11,371	$	—

Schedule of Assumptions Used For Inputs In Fair Value Measurement

The table below presents the assumptions used for each reporting period.

	March 31, 2020		December 31, 2019
Annualized volatility	28.0	%	19.8	%
Secured credit rate	4.1	%	2.2	%
NOPAT	12.0	%	12.0	%
Weighted average cost of capital	10.5	%	10.0	%
Long term growth rate	3.0	%	3.0	%