INVESTMENT SECURITIES (Tables)

6 Months Ended

Jun. 30, 2014

Schedule of Investment Securities Classified as Current and Long-Term

Investment securities classified as current and long-term were as follows at June 30, 2014 and December 31, 2013, respectively:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(in millions)
June 30, 2014
U.S. Treasury and other U.S. government corporations and agencies:
U.S. Treasury and agency obligations	$	372	$	8	$	(2	)	$	378
Mortgage-backed securities		1,490		48		(16	)		1,522
Tax-exempt municipal securities		2,998		141		(7	)		3,132
Mortgage-backed securities:
Residential		20		1		(1	)		20
Commercial		636		19		(11	)		644
Asset-backed securities		41		1		—			42
Corporate debt securities		3,402		326		(6	)		3,722
Total debt securities	$	8,959	$	544	$	(43	)	$	9,460
December 31, 2013
U.S. Treasury and other U.S. government corporations and agencies:
U.S. Treasury and agency obligations	$	584	$	6	$	(6	)	$	584
Mortgage-backed securities		1,834		34		(48	)		1,820
Tax-exempt municipal securities		2,911		93		(33	)		2,971
Mortgage-backed securities:
Residential		22		—		—			22
Commercial		662		20		(9	)		673
Asset-backed securities		63		1		(1	)		63
Corporate debt securities		3,474		223		(30	)		3,667
Total debt securities	$	9,550	$	377	$	(127	)	$	9,800

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, 2014 and December 31, 2013, 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, 2014
U.S. Treasury and other U.S. government corporations and agencies:
U.S. Treasury and agency obligations	$	38	$	—		$	92	$	(2	)	$	130	$	(2	)
Mortgage-backed securities		36		—			505		(16	)		541		(16	)
Tax-exempt municipal securities		118		(2	)		239		(5	)		357		(7	)
Mortgage-backed securities:
Residential		4		—			2		(1	)		6		(1	)
Commercial		106		(1	)		192		(10	)		298		(11	)
Asset-backed securities		—		—			16		—			16		—
Corporate debt securities		30		—			176		(6	)		206		(6	)
Total debt securities	$	332	$	(3	)	$	1,222	$	(40	)	$	1,554	$	(43	)
December 31, 2013
U.S. Treasury and other U.S. government corporations and agencies:
U.S. Treasury and agency obligations	$	231	$	(6	)	$	5	$	—		$	236	$	(6	)
Mortgage-backed securities		1,076		(47	)		21		(1	)		1,097		(48	)
Tax-exempt municipal securities		693		(28	)		57		(5	)		750		(33	)
Mortgage-backed securities:
Residential		6		—			1		—			7		—
Commercial		270		(8	)		40		(1	)		310		(9	)
Asset-backed securities		35		(1	)		—		—			35		(1	)
Corporate debt securities		594		(28	)		17		(2	)		611		(30	)
Total debt securities	$	2,905	$	(118	)	$	141	$	(9	)	$	3,046	$	(127	)

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, 2014 and 2013:

	Three months ended June 30,						Six months ended June 30,
	2014			2013			2014			2013
	(in millions)
Gross realized gains	$	6		$	11		$	7		$	17
Gross realized losses		(4	)		(5	)		(4	)		(7	)
Net realized capital gains	$	2		$	6		$	3		$	10

Schedule of Contractual Maturity of Debt Securities Available for Sale

The contractual maturities of debt securities available for sale at June 30, 2014, 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	$	422	$	427
Due after one year through five years		2,144		2,268
Due after five years through ten years		2,264		2,413
Due after ten years		1,942		2,124
Mortgage and asset-backed securities		2,187		2,228
Total debt securities	$	8,959	$	9,460