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Investments in Marketable Securities (Tables)
 12 Months Ended
Mar. 31, 2018
Marketable Securities [Abstract]  
Summary of Investments in Marketable Securities

The amortized cost and estimated fair value of investments in marketable securities and related unrealized gains and losses were as follows:

 

 

 

March 31, 2018

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

 

cost

 

 

gains

 

 

losses

 

 

value

 

Available-for-sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Debt instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government and agency obligations

 

$

2,821

 

 

-

 

 

$

(23

)

 

$

2,798

 

Municipal debt securities

 

 

10

 

 

 

1

 

 

-

 

 

 

11

 

Certificates of deposit

 

 

475

 

 

-

 

 

 

(1

)

 

 

474

 

Commercial paper

 

 

52

 

 

-

 

 

-

 

 

 

52

 

Corporate debt securities

 

 

203

 

 

 

1

 

 

 

(3

)

 

 

201

 

Mortgage-backed securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government agency

 

 

38

 

 

 

1

 

 

 

-

 

 

 

39

 

Non-agency residential

 

 

1

 

 

 

1

 

 

-

 

 

 

2

 

Non-agency commercial

 

 

30

 

 

-

 

 

 

(1

)

 

 

29

 

Asset-backed securities

 

 

39

 

 

-

 

 

-

 

 

 

39

 

Equity instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed income mutual funds:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-term floating NAV fund II

 

 

2

 

 

-

 

 

-

 

 

 

2

 

U.S. government sector fund

 

 

202

 

 

-

 

 

-

 

 

 

202

 

Municipal sector fund

 

 

8

 

 

-

 

 

-

 

 

 

8

 

Investment grade corporate sector fund

 

 

122

 

 

-

 

 

 

(3

)

 

 

119

 

High-yield sector fund

 

 

22

 

 

 

1

 

 

-

 

 

 

23

 

Mortgage sector fund

 

 

154

 

 

-

 

 

 

(3

)

 

 

151

 

Asset-backed securities sector fund

 

 

58

 

 

 

1

 

 

-

 

 

 

59

 

Emerging market sector fund

 

 

39

 

 

 

4

 

 

-

 

 

 

43

 

International sector fund

 

 

54

 

 

-

 

 

 

(1

)

 

 

53

 

Total return bond funds

 

 

1,535

 

 

 

5

 

 

 

(16

)

 

 

1,524

 

Total investments in marketable securities

 

$

5,865

 

 

$

15

 

 

$

(51

)

 

$

5,829

 

 

 

March 31, 2017

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

 

cost

 

 

gains

 

 

losses

 

 

value

 

Available-for-sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Debt instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government and agency obligations

 

$

2,314

 

 

$

1

 

 

$

(7

)

 

$

2,308

 

Municipal debt securities

 

 

10

 

 

 

1

 

 

-

 

 

 

11

 

Certificates of deposit

 

 

755

 

 

-

 

 

-

 

 

 

755

 

Corporate debt securities

 

 

368

 

 

 

2

 

 

 

(1

)

 

 

369

 

Mortgage-backed securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government agency

 

 

45

 

 

 

1

 

 

 

(1

)

 

 

45

 

Non-agency residential

 

 

2

 

 

-

 

 

-

 

 

 

2

 

Non-agency commercial

 

 

37

 

 

 

1

 

 

 

(1

)

 

 

37

 

Asset-backed securities

 

 

31

 

 

-

 

 

-

 

 

 

31

 

Equity instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed income mutual funds:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-term floating NAV fund II

 

 

39

 

 

-

 

 

-

 

 

 

39

 

U.S. government sector fund

 

 

389

 

 

-

 

 

-

 

 

 

389

 

Municipal sector fund

 

 

20

 

 

-

 

 

-

 

 

 

20

 

Investment grade corporate sector fund

 

 

252

 

 

 

9

 

 

-

 

 

 

261

 

High-yield sector fund

 

 

83

 

 

 

6

 

 

-

 

 

 

89

 

Real return sector fund

 

 

147

 

 

 

5

 

 

-

 

 

 

152

 

Mortgage sector fund

 

 

390

 

 

 

2

 

 

-

 

 

 

392

 

Asset-backed securities sector fund

 

 

140

 

 

 

10

 

 

-

 

 

 

150

 

Emerging market sector fund

 

 

105

 

 

 

7

 

 

-

 

 

 

112

 

International sector fund

 

 

136

 

 

-

 

 

-

 

 

 

136

 

Total return bond funds

 

 

389

 

 

 

5

 

 

-

 

 

 

394

 

Total investments in marketable securities

 

$

5,652

 

 

$

50

 

 

$

(10

)

 

$

5,692

 

 
Schedule of Realized Gains and Losses on Sales from AFS Presented in Our Consolidated Statement of Income

The following table represents realized gains and losses on our available-for-sale securities presented in our Consolidated Statements of Income:

 

 

 

 

 

 

Years Ended March 31,

 

 

 

2018

 

 

2017

 

 

2016

 

Available-for-sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

Realized gains on sales

 

$

46

 

 

$

251

 

 

$

59

 

Realized losses on sales

 

$

(2

)

 

$

(1

)

 

$

(3

)

Other-than-temporary impairment

 

$

(3

)

 

$

(24

)

 

$

(50

)

 
Summary of Contractual Maturities of Available-for-Sale Securities

The amortized cost, fair value and contractual maturities of available-for-sale debt instruments are summarized in the following table.  Actual maturities may differ from contractual maturities because certain borrowers have the right to call or prepay certain obligations.

 

 

March 31, 2018

 

 

 

Amortized Cost

 

 

Fair Value

 

Available-for-sale debt instruments:

 

 

 

 

 

 

 

 

Due within 1 year

 

$

2,089

 

 

$

2,082

 

Due after 1 year through 5 years

 

 

1,247

 

 

 

1,235

 

Due after 5 years through 10 years

 

 

151

 

 

 

146

 

Due after 10 years

 

 

74

 

 

 

73

 

Mortgage-backed and asset-backed securities1

 

 

108

 

 

 

109

 

Total

 

$

3,669

 

 

$

3,645

 

1 Mortgage-backed and asset-backed securities are shown separately from other maturity groupings as these securities have multiple maturity dates.