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Short-term and Long-term Investments, Restricted Deposits (Tables)
12 Months Ended
Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]  
Short-term and long-term investments and restricted deposits by investment type
Short-term and long-term investments and restricted deposits by investment type consist of the following ($ in millions):
 December 31, 2021December 31, 2020
 Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized Losses
Fair
Value
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized Losses
Fair
Value
Debt securities:
U.S. Treasury securities and obligations of U.S. government corporations and agencies$642 $— $(2)$640 $907 $$— $911 
Corporate securities8,145 130 (75)8,200 6,560 262 (8)6,814 
Restricted certificates of deposit— — 105 — — 105 
Restricted cash equivalents96 — — 96 157 — — 157 
Short-term time deposits109 — — 109 53 — — 53 
Municipal securities3,398 85 (15)3,468 2,970 129 (2)3,097 
Asset-backed securities1,308 (5)1,308 1,154 13 (3)1,164 
Residential mortgage-backed securities850 10 (7)853 1,068 27 — 1,095 
Commercial mortgage- backed securities870 13 (10)873 748 30 (5)773 
Equity securities (1)
326 — — 326 318 — — 318 
Private equity investments
587 — — 587 838 — — 838 
Life insurance contracts
186 — — 186 168 — — 168 
Total$16,521 $243 $(114)$16,650 $15,046 $465 $(18)$15,493 
(1) Investments in equity securities primarily consists of exchange traded funds in fixed income securities.
Schedule of available-for-sale investments in a continuous unrealized loss position
The fair value of available-for-sale debt securities with gross unrealized losses by investment type and length of time that individual securities have been in a continuous unrealized loss position were as follows ($ in millions):
 December 31, 2021December 31, 2020
 Less Than 12 Months12 Months or MoreLess Than 12 Months12 Months or More
 Unrealized LossesFair
Value
Unrealized LossesFair
Value
Unrealized LossesFair
Value
Unrealized LossesFair
Value
U.S. Treasury securities and obligations of U.S. government corporations and agencies$(2)$598 $— $$— $— $— $— 
Corporate securities(66)4,209 (9)209 (7)953 (1)24 
Municipal securities(14)1,173 (1)39 (2)238 — — 
Asset-backed securities(5)770 — 33 (2)302 (1)105 
Residential mortgage- backed securities(7)472 — 15 — 59 — 
Commercial mortgage- backed securities(8)380 (2)32 (5)147 — 13 
Total$(102)$7,602 $(12)$331 $(16)$1,699 $(2)$144 
Contractual maturities of short-term and long-term investments and restricted deposits
The contractual maturities of short-term and long-term debt securities and restricted deposits are as follows ($ in millions):
 December 31, 2021December 31, 2020
 InvestmentsRestricted DepositsInvestmentsRestricted Deposits
 Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
One year or less$1,390 $1,396 $368 $368 $1,407 $1,414 $817 $818 
One year through five years6,212 6,294 460 457 4,748 4,937 221 223 
Five years through ten years3,647 3,681 244 243 3,460 3,639 18 19 
Greater than ten years73 78 — — 81 87 — — 
Asset-backed securities3,028 3,034 — — 2,970 3,032 — — 
Total$14,350 $14,483 $1,072 $1,068 $12,666 $13,109 $1,056 $1,060