XML 33 R23.htm IDEA: XBRL DOCUMENT v3.20.2
INVESTMENT SECURITIES (Tables)
 6 Months Ended
Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]  
Schedule of Investment Securities Classified as Current and Long-Term
Investment securities classified as current and long-term were as follows at June 30, 2020 and December 31, 2019, respectively:
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
 (in millions)
June 30, 2020
U.S. Treasury and other U.S. government
corporations and agencies:
U.S. Treasury and agency obligations$929  $3  $—  $932  
Mortgage-backed securities3,861  183  (1) 4,043  
Tax-exempt municipal securities1,464  35  (3) 1,496  
Commercial mortgage-backed securities961  44  (4) 1,001  
Asset-backed securities1,186  4  (17) 1,173  
Corporate debt securities4,398  190  (8) 4,580  
Total debt securities$12,799  $459  $(33) $13,225  
December 31, 2019
U.S. Treasury and other U.S. government
corporations and agencies:
U.S. Treasury and agency obligations$353  $1  $—  $354  
Mortgage-backed securities3,628  85  (3) 3,710  
Tax-exempt municipal securities1,433  30  —  1,463  
Commercial mortgage-backed securities786  18  —  804  
Asset-backed securities1,093  3  (3) 1,093  
Corporate debt securities3,867  82  (2) 3,947  
Total debt securities$11,160  $219  $(8) $11,371  
Schedule of Gross Unrealized Losses and Fair Value of Securities
Gross unrealized losses and fair values aggregated by investment category and length of time of individual securities that have been in a continuous unrealized loss position were as follows at June 30, 2020 and December 31, 2019, respectively:
 Less than 12 months12 months or moreTotal
 Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
 (in millions)
June 30, 2020
U.S. Treasury and other U.S.
government corporations
and agencies:
U.S. Treasury and agency
obligations		$342  $—  $—  $—  $342  $—  
Mortgage-backed
securities		406  (1) —  —  406  (1) 
Tax-exempt municipal
securities		181  (3) 12  —  193  (3) 
Commercial mortgage-backed securities204  (3) 33  (1) 237  (4) 
Asset-backed securities152  (1) 814  (16) 966  (17) 
Corporate debt securities301  (4) 177  (4) 478  (8) 
Total debt securities$1,586  $(12) $1,036  $(21) $2,622  $(33) 
December 31, 2019
U.S. Treasury and other U.S.
government corporations
and agencies:
U.S. Treasury and agency
obligations		$48  $—  $23  $—  $71  $—  
Mortgage-backed
securities		315  (1) 204  (2) 519  (3) 
Tax-exempt municipal
securities		58  —  75  —  133  —  
Commercial mortgage-backed securities118  —  36  —  154  —  
Asset-backed securities20  —  607  (3) 627  (3) 
Corporate debt securities589  (2) 155  —  744  (2) 
Total debt securities$1,148  $(3) $1,100  $(5) $2,248  $(8) 
Schedule of Realized Gains (Losses) Related to Investment Securities Included Within Investment Income
The detail of realized gains (losses) related to investment securities and included within investment income was as follows for the three and six months ended June 30, 2020 and 2019:
 Three months ended
June 30,		Six months ended
June 30,
 2020201920202019
 (in millions)
Gross realized gains$13  $8  $69  $18  
Gross realized losses(11) (1) (18) (13) 
Net realized capital gains$2  $7  $51  $5  
Schedule of Contractual Maturity of Debt Securities Available for Sale
The contractual maturities of debt securities available for sale at June 30, 2020, regardless of their balance sheet classification, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
Amortized
Cost		Fair
Value
 (in millions)
Due within one year$1,790  $1,795  
Due after one year through five years2,043  2,114  
Due after five years through ten years1,834  1,944  
Due after ten years1,124  1,155  
Mortgage and asset-backed securities6,008  6,217  
Total debt securities$12,799  $13,225