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Investments (Tables)
12 Months Ended
Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost, Gross Unrealized Gains and Losses, Fair Values of Investments

The amortized cost, gross unrealized gains, gross unrealized losses, and fair values of our AFS investments as of December 31, 2019 and 2018 are presented below:
 
December 31, 2019
December 31, 2018
(in millions)
Amortized Cost
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value
Amortized Cost
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value
Asset-backed securities
$
30

$

$

$
30

$
33

$

$

$
33

Corporate bonds
123

1


124

99



99

U.S. government agencies and government-sponsored agencies
14



14

7



7

U.S. treasuries
163



163

46



46

Exchange traded fund




1



1

Certificates of deposit
1



1





Other debt securities
10



10

9



9

Total
$
341

$
1

$

$
342

$
195

$

$

$
195

Fair Value of Debt Investments by Contractual Maturity
The fair value of debt investments by contractual maturity are shown below:
(in millions)
 
December 31, 2019
 
December 31, 2018
 
One year or less
 
$
80

 
$
59

 
Over one year through five years
 
237

 
120

 
Over five years through ten years
 
8

 
3

 
Over ten years
 
17

 
12

 
Total fair value
 
$
342


$
194


Proceeds from Available-for-sale Securities
The gross proceeds from sales and maturities of AFS securities for the years ended December 31, 2019, 2018, and 2017 are shown below. We had immaterial realized gains and losses from sales of investments for the years ended December 31, 2019, 2018, and 2017.
 
Year Ended December 31,
(in millions)
2019
2018
2017
Gross proceeds from sales
$
76

$
54

$

Gross proceeds from maturities
83

47

14

Total
$
159

$
101

$
14