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INVESTMENT SECURITIES (Tables)
12 Months Ended
Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]  
Schedule of Investment Securities Classified as Current and Long-Term
Investment securities classified as current and long-term were as follows at December 31, 2020 and 2019, respectively:
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
 (in millions)
December 31, 2020
U.S. Treasury and other U.S. government
corporations and agencies:
U.S. Treasury and agency obligations$616 $$(1)$616 
Mortgage-backed securities3,115 140 (1)3,254 
Tax-exempt municipal securities1,393 54 — 1,447 
Mortgage-backed securities:
Residential17 — — 17 
Commercial1,260 59 (1)1,318 
Asset-backed securities1,364 10 (2)1,372 
Corporate debt securities4,672 256 (1)4,927 
Total debt securities$12,437 $520 $(6)12,951 
Common stock815 
Total investment securities$13,766 
December 31, 2019
U.S. Treasury and other U.S. government
corporations and agencies:
U.S. Treasury and agency obligations$353 $$— $354 
Mortgage-backed securities3,628 85 (3)3,710 
Tax-exempt municipal securities1,433 30 — 1,463 
Commercial mortgage-backed securities786 18 — 804 
Asset-backed securities1,093 (3)1,093 
Corporate debt securities3,867 82 (2)3,947 
Total debt securities$11,160 $219 $(8)11,371 
Common stock
Total investment securities$11,378 
Schedule of Gross Unrealized Losses and Fair Value of Securities
Gross unrealized losses and fair values aggregated by investment category and length of time that individual debt securities have been in a continuous unrealized loss position were as follows at December 31, 2020 and 2019, respectively:
 Less than 12 months12 months or moreTotal
 Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
 (in millions)
December 31, 2020
U.S. Treasury and other U.S. government
corporations and agencies:
U.S. Treasury and agency obligations$225 $(1)$— $— $225 $(1)
Mortgage-backed securities199 (1)— — 199 (1)
Tax-exempt municipal securities16 — 19 — 35 — 
Mortgage-backed securities:
Residential17 — — — 17 — 
Commercial193 (1)43 — 236 (1)
Asset-backed securities65 — 498 (2)563 (2)
Corporate debt securities342 (1)16 — 358 (1)
Total debt securities$1,057 $(4)$576 $(2)$1,633 $(6)
December 31, 2019
U.S. Treasury and other U.S. government
corporations and agencies:
U.S. Treasury and agency obligations$48 $— $23 $— $71 $— 
Mortgage-backed securities315 (1)204 (2)519 (3)
Tax-exempt municipal securities58 — 75 — 133 — 
Commercial mortgage-backed securities118 — 36 — 154 — 
Asset-backed securities20 — 607 (3)627 (3)
Corporate debt securities589 (2)155 — 744 (2)
Total debt securities$1,148 $(3)$1,100 $(5)$2,248 $(8)
Schedule of Realized Gains (Losses) Related to Investment Securities Included Within Investment Income
The detail of realized gains (losses) related to investment securities and included within investment income was as follows for the years ended December 31, 2020, 2019, and 2018:
202020192018
 (in millions)
Gross gains on investment securities$947 $129 $106 
Gross losses on investment securities(109)(67)(16)
Net realized gains on investment securities$838 $62 $90 
Schedule of Contractual Maturities of Debt Securities Available for Sale
The contractual maturities of debt securities available for sale at December 31, 2020, regardless of their balance sheet classification, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
Amortized
Cost
Fair
Value
 (in millions)
Due within one year$802 $805 
Due after one year through five years2,145 2,236 
Due after five years through ten years2,247 2,396 
Due after ten years1,487 1,553 
Mortgage and asset-backed securities5,756 5,961 
Total debt securities$12,437 $12,951