Investment Securities (Tables)

6 Months Ended

Jun. 30, 2013

Schedule of Investment Securities Classified as Current and Long-Term

Investment securities classified as current and long-term were as follows at June 30, 2013 and December 31, 2012, respectively:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(in millions)
June 30, 2013
U.S. Treasury and other U.S. government corporations and agencies:
U.S. Treasury and agency obligations	$	568	$	9	$	(6	)	$	571
Mortgage-backed securities		1,423		44		(27	)		1,440
Tax-exempt municipal securities		2,933		113		(18	)		3,028
Mortgage-backed securities:
Residential		27		1		0			28
Commercial		557		23		(7	)		573
Asset-backed securities		53		1		(1	)		53
Corporate debt securities		3,423		239		(29	)		3,633
Total debt securities	$	8,984	$	430	$	(88	)	$	9,326
December 31, 2012
U.S. Treasury and other U.S. government corporations and agencies:
U.S. Treasury and agency obligations	$	602	$	16	$	0		$	618
Mortgage-backed securities		1,519		85		(1	)		1,603
Tax-exempt municipal securities		2,890		185		(4	)		3,071
Mortgage-backed securities:
Residential		33		2		(1	)		34
Commercial		615		44		0			659
Asset-backed securities		66		2		0			68
Corporate debt securities		3,394		402		(2	)		3,794
Total debt securities	$	9,119	$	736	$	(8	)	$	9,847

Schedule of Gross Unrealized Losses and Fair Value of Securities

Gross unrealized losses and fair values aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position were as follows at June 30, 2013 and December 31, 2012, respectively:

	Less than 12 months					12 months or more					Total
	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
	(in millions)
June 30, 2013
U.S. Treasury and other U.S. government corporations and agencies:
U.S. Treasury and agency obligations	$	298	$	(6	)	$	6	$	0		$	304	$	(6	)
Mortgage-backed securities		660		(26	)		17		(1	)		677		(27	)
Tax-exempt municipal securities		466		(17	)		28		(1	)		494		(18	)
Mortgage-backed securities:
Residential		2		0			2		0			4		0
Commercial		199		(7	)		0		0			199		(7	)
Asset-backed securities		36		(1	)		0		0			36		(1	)
Corporate debt securities		588		(28	)		4		(1	)		592		(29	)
Total debt securities	$	2,249	$	(85	)	$	57	$	(3	)	$	2,306	$	(88	)
December 31, 2012
U.S. Treasury and other U.S. government corporations and agencies:
U.S. Treasury and agency obligations	$	56	$	0		$	2	$	0		$	58	$	0
Mortgage-backed securities		38		0			25		(1	)		63		(1	)
Tax-exempt municipal securities		233		(3	)		27		(1	)		260		(4	)
Mortgage-backed securities:
Residential		0		0			4		(1	)		4		(1	)
Commercial		94		0			0		0			94		0
Asset-backed securities		2		0			4		0			6		0
Corporate debt securities		104		(2	)		4		0			108		(2	)
Total debt securities	$	527	$	(5	)	$	66	$	(3	)	$	593	$	(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, 2013 and 2012:

	For the three months ended June 30,						For the six months ended June 30,
	2013			2012			2013			2012
	(in millions)
Gross realized gains	$	11		$	11		$	17		$	16
Gross realized losses		(5	)		(1	)		(7	)		(2	)
Net realized capital gains	$	6		$	10		$	10		$	14

Schedule of Contractual Maturity of Debt Securities Available for Sale

The contractual maturities of debt securities available for sale at June 30, 2013, 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	$	473	$	478
Due after one year through five years		1,833		1,899
Due after five years through ten years		2,768		2,900
Due after ten years		1,850		1,955
Mortgage and asset-backed securities		2,060		2,094
Total debt securities	$	8,984	$	9,326