XML 43 R24.htm IDEA: XBRL DOCUMENT v3.21.1
FAIR VALUE (Tables)
 3 Months Ended
Mar. 31, 2021
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, 2021 and December 31, 2020, 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, 2021
Cash equivalents$3,536 $3,536 $— $— 
Debt securities:
U.S. Treasury and other U.S. government
    corporations and agencies:
U.S. Treasury and agency obligations651 — 651 — 
Mortgage-backed securities3,836 — 3,836 — 
Tax-exempt municipal securities1,170 — 1,170 — 
Mortgage-backed securities:
Residential92 — 92 — 
Commercial1,307 — 1,307 — 
Asset-backed securities1,432 — 1,432 — 
Corporate debt securities5,153 — 5,153 — 
Total debt securities13,641 — 13,641 — 
Common stock730 730 — — 
Total invested assets$17,907 $4,266 $13,641 $— 
December 31, 2020
Cash equivalents$4,548 $4,548 $— $— 
Debt securities:
U.S. Treasury and other U.S. government
    corporations and agencies:
U.S. Treasury and agency obligations616 — 616 — 
Mortgage-backed securities3,254 — 3,254 — 
Tax-exempt municipal securities1,447 — 1,447 — 
Mortgage-backed securities:
Residential17 — 17 — 
Commercial1,318 — 1,318 — 
Asset-backed securities1,372 — 1,372 — 
Corporate debt securities4,927 — 4,927 — 
Total debt securities12,951 — 12,951 — 
Common stock815 815 — — 
Total invested assets$18,314 $5,363 $12,951 $— 
Schedule of Assumptions Used For Inputs In Fair Value Measurement The table below presents the assumptions used for each reporting period.
March 31, 2021December 31, 2020
Annualized volatility33.2 %29.9 %
Secured credit rate0.6 %0.4 %
NOPAT12.0 %12.0 %
Weighted average cost of capital9.5 %9.5 %
Long term growth rate3.0 %3.0 %