Investments (Tables)

3 Months Ended

Mar. 31, 2023

Investments [Abstract]

Amortized Cost and Fair Value of the Trust Investments

		Amortized Costs				Fair Values
	Longest	March 31,		December 31,		March 31,		December 31,
(in millions)	Maturity Dates	2023		2022		2023		2022
Municipal bonds	2061	$	634	$	672	$	734	$	754
Government and agency securities	2073		1,087		1,025		1,174		1,091
Corporate bonds	2070		379		351		409		377
Short-term investments and receivables/payables1	One-year		104		110		109		116
Total debt securities and other		$	2,204	$	2,158		2,426		2,338
Equity securities							1,667		1,610
Total						$	4,093	$	3,948

1 Short-term investments included $18 million and $41 million of repurchase agreements payable by financial institutions which earn interest, were fully and 97% secured by U.S. Treasury securities and mature by April 3, 2023 and January 3, 2023 as of March 31, 2023 and December 31, 2022, respectively.

Summary of gains and losses

	Three months ended March 31,
(in millions)	2023		2022
Gross realized gains	$	71	$	15
Gross realized losses		(23)		(16)
Net unrealized gains/(losses) for equity securities		75		(100)

Summarizes of unrealized gains/(losses)

	Three months ended March 31,
(in millions)	2023		2022
Marketable securities	$	(3)	$	(2)