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FAIR VALUE (Tables)
 3 Months Ended
Mar. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets Measured at Fair Value on Recurring Basis
The following table summarizes our fair value measurements at March 31, 2022 and December 31, 2021, respectively, for financial assets measured at fair value on a recurring basis:
 Fair Value Measurements Using
 Fair
Value		Quoted Prices
in Active
Markets
(Level 1)		Other
Observable
Inputs
(Level 2)		Unobservable
Inputs
(Level 3)
 (in millions)
March 31, 2022
Cash equivalents$4,482 $4,482 $— $— 
Debt securities:
U.S. Treasury and other U.S. government
    corporations and agencies:
U.S. Treasury and agency obligations588 — 588 — 
Mortgage-backed securities3,072 — 3,072 — 
Tax-exempt municipal securities781 — 781 — 
Mortgage-backed securities:
Residential450 — 450 — 
Commercial1,513 — 1,513 — 
Asset-backed securities1,563 — 1,563 — 
Corporate debt securities5,333 — 5,253 80 
Total debt securities13,300 — 13,220 80 
Common stock184 184 — — 
Total invested assets$17,966 $4,666 $13,220 $80 
December 31, 2021
Cash equivalents$3,322 $3,322 $— $— 
Debt securities:
U.S. Treasury and other U.S. government
    corporations and agencies:
U.S. Treasury and agency obligations602 — 602 — 
Mortgage-backed securities3,229 — 3,229 — 
Tax-exempt municipal securities841 — 841 — 
Mortgage-backed securities:
Residential367 — 367 — 
Commercial1,410 — 1,410 — 
Asset-backed securities1,348 — 1,348 — 
Corporate debt securities5,700 — 5,632 68 
Total debt securities13,497 — 13,429 68 
Common stock475 475 — — 
Total invested assets$17,294 $3,797 $13,429 $68 
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation During the year ended March 31, 2022, the changes in the fair value of the assets measured using significant unobservable inputs (Level 3) were comprised of the following:
For the three months ended March 31, 2022
Private
Placements
(in millions)
Beginning balance at January 1$68 
Total gains or losses:
Realized in earnings— 
Unrealized in other comprehensive income(4)
Purchases17 
Sales(1)
Settlements— 
Balance at March 31$80 
Schedule of Assumptions Used For Inputs In Fair Value Measurement The table below presents the assumptions used for each reporting period.
March 31, 2022December 31, 2021
Annualized volatility22.9 %22.4 %
Credit spread1.4 %0.9 %
Revenue exit multiple
1.5x - 2.5x
1.5x - 2.5x
Weighted average cost of capital12.5 %12.5 %
Long term growth rate3.0 %3.0 %