Investments (Tables)

6 Months Ended

Jun. 30, 2022

Investments [Abstract]

Amortized Cost and Fair Value of the Trust Investments

		Amortized Cost				Fair Value
	Longest	June 30,		December 31,		June 30,		December 31,
(in millions)	Maturity Dates	2022		2021		2022		2021
Stocks	—		*		*	$	1,548	$	1,972
Municipal bonds	2058	$	843	$	875		905		1,033
Government and agency securities	2067		933		1,095		986		1,212
Corporate bonds	2070		371		386		390		446
Short-term investments and receivables/payables1	One-year		200		199		210		207
Total		$	2,347	$	2,555	$	4,039	$	4,870

* Not applicable

1 Short-term investments include $48 million and $37 million of repurchase agreements payable by financial institutions which earn interest, are fully secured by U.S. Treasury securities and mature by July 1, 2022 and January 3, 2022 as of June 30, 2022 and December 31, 2021, respectively.

Summary of gains and losses

	Three months ended June 30,				Six months ended June 30,
(in millions)	2022		2021		2022		2021
Gross realized gains	$	74	$	140	$	89	$	251
Gross realized losses		45		4		61		16
Net unrealized (losses) gains for equity securities		(332)		16		(432)		34