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FAIR VALUE (Tables)
 6 Months Ended
Jun. 30, 2023
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, 2023 and December 31, 2022, 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, 2023
Cash equivalents$16,209 $16,209 $— $— 
Debt securities:
U.S. Treasury and other U.S. government
    corporations and agencies:
U.S. Treasury and agency obligations1,742 — 1,742 — 
Mortgage-backed securities3,494 — 3,494 — 
Tax-exempt municipal securities762 — 762 — 
Mortgage-backed securities:
Residential395 — 395 — 
Commercial1,391 — 1,391 — 
Asset-backed securities1,827 — 1,827 — 
Corporate debt securities6,029 — 5,935 94 
Total debt securities15,640 — 15,546 94 
Total invested assets$31,849 $16,209 $15,546 $94 
December 31, 2022
Cash equivalents$4,832 $4,832 $— $— 
Debt securities:
U.S. Treasury and other U.S. government
    corporations and agencies:
U.S. Treasury and agency obligations1,039 — 1,039 — 
Mortgage-backed securities3,230 — 3,230 — 
Tax-exempt municipal securities728 — 728 — 
Mortgage-backed securities:
Residential401 — 401 — 
Commercial1,399 — 1,399 — 
Asset-backed securities1,731 — 1,731 — 
Corporate debt securities5,726 — 5,625 101 
Total debt securities14,254 — 14,153 101 
Common stock7 7 — — 
Total invested assets$19,093 $4,839 $14,153 $101 
Schedule of Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation During the six months ended June 30, 2023 and 2022, the changes in the fair value of the assets measured using significant unobservable inputs (Level 3) were comprised of the following:
For the six months ended June 30, 2023For the six months ended June 30, 2022
Private Placements
(in millions)
Beginning balance at January 1$101 $68 
Total gains or losses:
Unrealized in other comprehensive income— (10)
Purchases1 44 
Maturities(4)— 
Transfer out(4)— 
Balance at June 30$94 $102 
Schedule of Assumptions Used For Inputs In Fair Value Measurement The table below presents the assumptions used for each reporting period.
June 30, 2023December 31, 2022
Annualized volatility
16.4% - 19.2%
16.7% - 20.8%
Credit spread
1.1% - 1.6%
1.3% - 1.5%
Revenue exit multiple
1.5x - 2.5x
1.5x - 2.5x
Weighted average cost of capital
12.0% - 13.0%
11.5% - 12.5%
Long term growth rate3.0 %3.0 %