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INVESTMENT SECURITIES (Tables)
6 Months Ended
Jun. 30, 2022
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, 2022 and December 31, 2021, respectively:
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
 (in millions)
June 30, 2022
U.S. Treasury and other U.S. government
    corporations and agencies:
U.S. Treasury and agency obligations$568 $— $(43)$525 
Mortgage-backed securities3,332 — (392)2,940 
Tax-exempt municipal securities776 (34)743 
Mortgage-backed securities:
Residential493 — (54)439 
Commercial1,582 — (109)1,473 
Asset-backed securities1,764 — (50)1,714 
Corporate debt securities6,181 (685)5,498 
Total debt securities$14,696 $$(1,367)13,332 
Common stock85 
Total investment securities$13,417 
December 31, 2021
U.S. Treasury and other U.S. government
    corporations and agencies:
U.S. Treasury and agency obligations$611 $$(10)$602 
Mortgage-backed securities3,265 33 (69)3,229 
Tax-exempt municipal securities810 33 (2)841 
Mortgage-backed securities:
Residential373 — (6)367 
Commercial1,394 27 (11)1,410 
Asset-backed securities1,346 (4)1,348 
Corporate debt securities5,641 118 (59)5,700 
Total debt securities$13,440 $218 $(161)13,497 
Common stock475 
Total investment securities$13,972 
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 debt securities that have been in a continuous unrealized loss position for which no allowances for credit loss has been recorded were as follows at June 30, 2022 and December 31, 2021, 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, 2022
U.S. Treasury and other U.S.
    government corporations
    and agencies:
U.S. Treasury and agency
    obligations
$91 $(4)$431 $(39)$522 $(43)
Mortgage-backed
    securities
1,109 (129)1,785 (263)2,894 (392)
Tax-exempt municipal
    securities
38 (3)594 (31)632 (34)
Mortgage-backed securities:
Residential250 (23)189 (31)439 (54)
Commercial282 (11)1,191 (98)1,473 (109)
Asset-backed securities517 (19)1,171 (31)1,688 (50)
Corporate debt securities1,775 (183)3,441 (502)5,216 (685)
Total debt securities$4,062 $(372)$8,802 $(995)$12,864 $(1,367)
December 31, 2021
U.S. Treasury and other U.S.
    government corporations
    and agencies:
U.S. Treasury and agency
    obligations
$201 $(3)$355 $(7)$556 $(10)
Mortgage-backed
    securities
2,082 (49)556 (20)2,638 (69)
Tax-exempt municipal
    securities
68 (1)34 (1)102 (2)
Mortgage-backed securities:
Residential358 (6)— 366 (6)
Commercial295 (4)400 (7)695 (11)
Asset-backed securities530 (3)425 (1)955 (4)
Corporate debt securities1,456 (28)769 (31)2,225 (59)
Total debt securities$4,990 $(94)$2,547 $(67)$7,537 $(161)
Schedule of Realized Gains (Losses) Related to Investment Securities Included Within Investment Income
The detail of (losses) gains related to investment securities and included within investment income was as follows for the three and six months ended June 30, 2022 and 2021:
 Three months ended June 30,Six months ended June 30,
 2022202120222021
 (in millions)(in millions)
Gross gains on investment securities$$14 $39 $109 
Gross losses on investment securities(5)— (6)— 
Gross gains on equity securities— 62 — 64 
Gross losses on equity securities(62)— (170)(87)
Net recognized (losses) gains on investment securities$(61)$76 $(137)$86 
Gain (Loss) on Equity Securities
The gains and losses related to equity securities for the three and six months ended June 30, 2022 and 2021 was as follows:
Three months ended June 30,Six months ended June 30,
2022202120222021
(in millions)(in millions)
Net (losses) gains recognized on equity securities during the period$(62)$62 $(170)$(23)
Less: Net losses recognized on equity securities sold during the period(2)— (61)— 
Unrealized (losses) gains recognized on equity securities still held at the end of the period$(60)$62 $(109)$(23)
Schedule of Contractual Maturity of Debt Securities Available for Sale
The contractual maturities of debt securities available for sale at June 30, 2022, 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$334 $333 
Due after one year through five years2,814 2,680 
Due after five years through ten years3,126 2,712 
Due after ten years1,251 1,041 
Mortgage and asset-backed securities7,171 6,566 
Total debt securities$14,696 $13,332