FAIR VALUE (Tables)

6 Months Ended

Jun. 30, 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 June 30, 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)
June 30, 2020
Cash equivalents	$	6,771	$	6,771	$	—	$	—
Debt securities:
U.S. Treasury and other U.S. government corporations and agencies:
U.S. Treasury and agency obligations	932		—		932		—
Mortgage-backed securities	4,043		—		4,043		—
Tax-exempt municipal securities	1,496		—		1,496		—
Commercial mortgage-backed securities	1,001		—		1,001		—
Asset-backed securities	1,173		—		1,173		—
Corporate debt securities	4,580		—		4,580		—
Total debt securities	13,225		—		13,225		—
Total invested assets	$	19,996	$	6,771	$	13,225	$	—
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		—
Commercial mortgage-backed securities	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.

	June 30, 2020		December 31, 2019
Annualized volatility	34.8	%	19.8	%
Secured credit rate	1.1	%	2.2	%
NOPAT	12.0	%	12.0	%
Weighted average cost of capital	10.0	%	10.0	%
Long term growth rate	3.0	%	3.0	%