Investments in Marketable Securities (Tables)

3 Months Ended

Jun. 30, 2012

Investments in Marketable Securities [Abstract]

Summary of Investments in Marketable Securities

				June 30, 2012
				Amortized		Unrealized		Unrealized		Fair
(Dollars in millions)				cost		gains		losses		value
Available-for-sale securities:
	Debt instruments:
		U.S. government and agency obligations		$	131	$	4	$	-	$	135
		Municipal debt securities			16		3		-		19
		Certificates of deposit			1,724		-		-		1,724
		Commercial paper			344		-		-		344
		Foreign government debt securities			3		-		-		3
		Corporate debt securities			89		6		-		95
		Mortgage-backed securities:
			U.S. government agency		94		6		-		100
			Non-agency residential		6		1		-		7
			Non-agency commercial		24		1		-		25
		Asset-backed securities			12		-		-		12
	Equity instruments:
		Fixed income mutual funds:
			Short-term sector fund		39		1		-		40
			U.S. government sector fund		330		12		-		342
			Municipal sector fund		19		2		-		21
			Investment grade corporate sector fund		260		39		-		299
			High-yield sector fund		31		6		-		37
			Real return sector fund		279		8		-		287
			Mortgage sector fund		647		-		(10)		637
			Asset-backed securities sector fund		37		5		-		42
			Emerging market sector fund		60		4		-		64
			International sector fund		147		17		-		164
		Equity mutual fund			271		168		-		439
Total investments in marketable securities				$	4,563	$	283	$	(10)	$	4,836

Note 3 – Investments in Marketable Securities (Continued)
					March 31, 2012
				Amortized		Unrealized		Unrealized		Fair
(Dollars in millions)				cost		gains		losses		value
Available-for-sale securities:
	Debt instruments:
		U.S. government and agency obligations		$	108	$	1	$	(1)	$	108
		Municipal debt securities			17		3		-		20
		Certificates of deposit			1,341		-		-		1,341
		Commercial paper			633		-		-		633
		Foreign government debt securities			3		-		-		3
		Corporate debt securities			100		7		-		107
		Mortgage-backed securities:
			U.S. government agency		100		5		-		105
			Non-agency residential		7		1		-		8
			Non-agency commercial		25		1		-		26
		Asset-backed securities			13		-		-		13
	Equity instruments:
		Fixed income mutual funds:
			Short-term sector fund		39		1		-		40
			U.S. government sector fund		319		-		(6)		313
			Municipal sector fund		19		2		-		21
			Investment grade corporate sector fund		261		37		-		298
			High-yield sector fund		31		6		-		37
			Real return sector fund		228		3		-		231
			Mortgage sector fund		651		-		(12)		639
			Asset-backed securities sector fund		37		4		-		41
			Emerging market sector fund		60		2		-		62
			International sector fund		143		19		-		162
		Equity mutual fund			268		183		-		451
Total investments in marketable securities				$	4,403	$	275	$	(19)	$	4,659

Summary of the aging of fair value and gross unrealized losses for AFS securities

Unrealized Losses on Securities
The following table presents the fair value and gross unrealized losses of investments in marketable securities that had been in a continuous unrealized loss position for less than twelve consecutive months. These unrealized losses are recorded in Accumulated Other Comprehensive Income, net of applicable taxes in our Consolidated Statement of Shareholder's Equity:
			Less than 12 months as of
			June 30, 2012				March 31, 2012
			Fair		Unrealized		Fair		Unrealized
(Dollars in millions)			value		losses		value		losses
Available-for-sale securities:
Debt instruments:
	U.S. government and agency
		obligations	$	-	$	-	$	68	$	(1)
Equity instruments:
	U.S. government sector fund			-		-		237		(2)
	Mortgage sector fund			637		(10)		639		(12)
Total investments in marketable
	securities		$	637	$	(10)	$	944	$	(15)

Summary of Contractual Maturities of Available-for-Sale Securities

		Due in 1 Year or				Due after 1 Year				Due after 5 Years
			Less			through 5 Years				through 10 Years				Due after 10 Years					Total
(Dollars in millions)		Amount		Yield		Amount		Yield		Amount		Yield		Amount		Yield		Amount		Yield
Fair Value of Available-for-Sale Securities:
Debt instruments:
U.S. government and
	agency obligations	$	9	0.07	%	$	54	1.33	%	$	70	2.08	%	$	2	3.13	%	$	135	1.74	%
Municipal debt securities			-	-			-	-			1	5.53			18	6.00			19	5.97
Certificates of deposit			1,724	0.46			-	-			-	-			-	-			1,724	0.46
Commercial paper			344	0.13			-	-			-	-			-	-			344	0.13
Foreign government debt
	securities		-	-			3	2.93			-	-			-	-			3	2.93
Corporate debt
	securities		2	3.70			53	4.38			39	5.19			1	7.86			95	4.70
Mortgage-backed securities:
	U.S. government agency		-	-			-	-			6	4.23			94	3.95			100	3.97
	Non-agency residential		-	-			-	-			-	-			7	8.20			7	8.20
	Non-agency commercial		-	-			3	3.59			1	1.04			21	4.24			25	4.05
Asset-backed securities			-	-			4	2.45			2	1.13			6	1.38			12	1.68
Debt instruments total			2,079	0.41			117	2.88			119	3.26			149	4.33			2,464	0.90
Equity instruments:
Fixed income mutual funds																			1,933	4.40
Equity mutual fund																			439	3.30
Equity instruments total			-				-				-				-				2,372	4.20
Total fair value		$	2,079	0.41	%	$	117	2.88	%	$	119	3.26	%	$	149	4.33	%	$	4,836	2.52	%
Total amortized cost		$	2,079			$	113			$	113			$	138			$	4,563

Schedule of realized gains and losses on sales from AFS

		Three Months Ended
		June 30,
Available-for-sale securities:		2012		2011
Realized gains on sales	$	4	$	12
Realized losses on sales	$	1	$	-