XML 49 R28.htm IDEA: XBRL DOCUMENT v2.4.1.9
Investments in Marketable Securities (Tables)
 12 Months Ended
Mar. 31, 2015
Marketable Securities [Abstract]  
Summary of Investments in Marketable Securities

 

 

 

March 31, 2015

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

(Dollars in millions)

 

cost

 

 

gains

 

 

losses

 

 

value

 

Available-for-sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Debt instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government and agency obligations

 

$

4,357

 

 

$

3

 

 

$

(1

)

 

$

4,359

 

Municipal debt securities

 

 

10

 

 

 

2

 

 

 

-

 

 

 

12

 

Certificates of deposit

 

 

175

 

 

 

-

 

 

 

-

 

 

 

175

 

Commercial paper

 

 

37

 

 

 

-

 

 

 

-

 

 

 

37

 

Corporate debt securities

 

 

138

 

 

 

7

 

 

 

-

 

 

 

145

 

Mortgage-backed securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government agency

 

 

57

 

 

 

2

 

 

 

-

 

 

 

59

 

Non-agency residential

 

 

3

 

 

 

1

 

 

 

-

 

 

 

4

 

Non-agency commercial

 

 

43

 

 

 

1

 

 

 

-

 

 

 

44

 

Asset-backed securities

 

 

39

 

 

 

-

 

 

 

-

 

 

 

39

 

Equity instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed income mutual funds:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-term floating NAV fund II

 

 

148

 

 

 

-

 

 

 

-

 

 

 

148

 

Short-term sector fund

 

 

35

 

 

 

2

 

 

 

-

 

 

 

37

 

U.S. government sector fund

 

 

311

 

 

 

24

 

 

 

-

 

 

 

335

 

Municipal sector fund

 

 

19

 

 

 

1

 

 

 

-

 

 

 

20

 

Investment grade corporate sector fund

 

 

256

 

 

 

15

 

 

 

(3

)

 

 

268

 

High-yield sector fund

 

 

50

 

 

 

6

 

 

 

(1

)

 

 

55

 

Real return sector fund

 

 

235

 

 

 

-

 

 

 

(3

)

 

 

232

 

Mortgage sector fund

 

 

390

 

 

 

9

 

 

 

-

 

 

 

399

 

Asset-backed securities sector fund

 

 

63

 

 

 

9

 

 

 

-

 

 

 

72

 

Emerging market sector fund

 

 

73

 

 

 

-

 

 

 

(2

)

 

 

71

 

International sector fund

 

 

146

 

 

 

14

 

 

 

-

 

 

 

160

 

Equity mutual fund

 

 

190

 

 

 

270

 

 

 

-

 

 

 

460

 

Total investments in marketable securities

 

$

6,775

 

 

$

366

 

 

$

(10

)

 

$

7,131

 

 

Note 3 – Investments in Marketable Securities (Continued)

 

 

 

March 31, 2014

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

(Dollars in millions)

 

cost

 

 

gains

 

 

losses

 

 

value

 

Available-for-sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Debt instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government and agency obligations

 

$

652

 

 

$

1

 

 

$

(1

)

 

$

652

 

Municipal debt securities

 

 

10

 

 

 

1

 

 

 

-

 

 

 

11

 

Certificates of deposit

 

 

1,599

 

 

 

-

 

 

 

-

 

 

 

1,599

 

Commercial paper

 

 

507

 

 

 

-

 

 

 

-

 

 

 

507

 

Corporate debt securities

 

 

164

 

 

 

6

 

 

 

(1

)

 

 

169

 

Mortgage-backed securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government agency

 

 

60

 

 

 

1

 

 

 

(1

)

 

 

60

 

Non-agency residential

 

 

4

 

 

 

1

 

 

 

-

 

 

 

5

 

Non-agency commercial

 

 

44

 

 

 

1

 

 

 

(2

)

 

 

43

 

Asset-backed securities

 

 

27

 

 

 

-

 

 

 

-

 

 

 

27

 

Equity instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed income mutual funds:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-term sector fund

 

 

41

 

 

 

3

 

 

 

-

 

 

 

44

 

U.S. government sector fund

 

 

329

 

 

 

-

 

 

 

(2

)

 

 

327

 

Municipal sector fund

 

 

21

 

 

 

1

 

 

 

-

 

 

 

22

 

Investment grade corporate sector fund

 

 

283

 

 

 

33

 

 

 

-

 

 

 

316

 

High-yield sector fund

 

 

38

 

 

 

7

 

 

 

-

 

 

 

45

 

Real return sector fund

 

 

275

 

 

 

-

 

 

 

(1

)

 

 

274

 

Mortgage sector fund

 

 

519

 

 

 

1

 

 

 

-

 

 

 

520

 

Asset-backed securities sector fund

 

 

40

 

 

 

10

 

 

 

-

 

 

 

50

 

Emerging market sector fund

 

 

65

 

 

 

1

 

 

 

-

 

 

 

66

 

International sector fund

 

 

170

 

 

 

2

 

 

 

(1

)

 

 

171

 

Equity mutual fund

 

 

217

 

 

 

264

 

 

 

-

 

 

 

481

 

Total investments in marketable securities

 

$

5,065

 

 

$

333

 

 

$

(9

)

 

$

5,389

 

 
Schedule of Realized Gains and Losses on Sales from AFS

 

 

 

Years Ended March 31,

 

(Dollars in millions)

 

2015

 

 

2014

 

 

2013

 

Available-for-sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

Realized gains on sales

 

$

71

 

 

$

59

 

 

$

23

 

Realized losses on sales

 

$

(1

)

 

$

(4

)

 

$

(2

)

Other-than-temporary impairment

 

$

-

 

 

$

(55

)

 

$

-

 

 
Summary of Contractual Maturities of Available-for-Sale Securities

 

 

 

March 31, 2015

 

(Dollars in millions)

 

Amortized Cost

 

 

Fair Value

 

Available-for-sale debt instruments:

 

 

 

 

 

 

 

 

Due within 1 year

 

$

4,452

 

 

$

4,451

 

Due after 1 year through 5 years

 

 

121

 

 

 

124

 

Due after 5 years through 10 years

 

 

82

 

 

 

85

 

Due after 10 years

 

 

62

 

 

 

68

 

Mortgage-backed and asset-backed securities1

 

 

142

 

 

 

146

 

Total

 

$

4,859

 

 

$

4,874

 

 

1  Mortgage-backed and asset-backed securities are shown separately from other maturity groupings as these securities do not have a single maturity date.