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Investments of Insurance Subsidiaries
 3 Months Ended
Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]  
Investments of Insurance Subsidiaries
NOTE 5 — INVESTMENTS OF INSURANCE SUBSIDIARIES
A summary of our insurance subsidiaries’ investments at March 31, 2020 and December 31, 2019 follows (dollars in millions):
                                 
 
March 31, 2020
 
 
Amortized
Cost
 
  
Unrealized
Amounts
   
Fair
Value
 
Gains
 
  
Losses
 
Debt securities
 
$
371
 
  
$
15
 
  
$
(2
)
 
$
384
 
Money market funds and other
 
 
54
 
  
 
—
 
  
 
—
 
  
 
54
 
                                 
 
$
425
 
  
$
15
 
  
$
(2
)
 
 
438
 
                                 
Amounts classified as current assets
 
 
 
  
 
 
  
 
 
  
 
(113
)
                                 
Investment carrying value
 
 
 
  
 
 
  
 
 
  
$
325
 
                                 
 
 
 
 
At March 31, 2020 and December 31, 2019, the investments in debt securities of our insurance subsidiaries were classified as
“available-for-sale.”
Changes in unrealized gains and losses that are not credit-related are recorded as adjustments to other comprehensive income (loss).
Scheduled maturities of investments in debt securities at March 31, 2020 were as follows (dollars in millions):
 
Amortized
Cost
 
  
Fair
Value
 
Due in one year or less
  $
9
    $
9
 
Due after one year through five years
   
100
     
103
 
Due after five years through ten years
   
188
     
195
 
Due after ten years
   
74
     
77
 
                 
   $
371
    $
384
 
                 
The average expected maturity of the investments in debt securities at March 31, 2020 was 5.4 years, compared to the average scheduled maturity of 10.2 years. Expected and scheduled maturities may differ because the issuers of certain securities have the right to call, prepay or otherwise redeem such obligations prior to their scheduled maturity date.