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Investments of Insurance Subsidiaries (Tables)
3 Months Ended
Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Schedule of Investments

A summary of our insurance subsidiaries’ investments at March 31, 2023 and December 31, 2022 follows (dollars in millions):

 

 

March 31, 2023

 

 

 

 

 

Unrealized
Amounts

 

 

 

 

 

Amortized
Cost

 

 

Gains

 

 

Losses

 

 

Fair
Value

 

Debt securities

 

$

415

 

 

$

1

 

 

$

(32

)

 

$

384

 

Money market funds and other

 

 

102

 

 

 

 

 

 

 

 

 

102

 

 

$

517

 

 

$

1

 

 

$

(32

)

 

 

486

 

Amounts classified as current assets

 

 

 

 

 

 

 

 

 

 

 

(96

)

Investment carrying value

 

 

 

 

 

 

 

 

 

 

$

390

 

 

 

December 31, 2022

 

 

 

 

 

Unrealized
Amounts

 

 

 

 

 

Amortized
Cost

 

 

Gains

 

 

Losses

 

 

Fair
Value

 

Debt securities

 

$

415

 

 

$

 

 

$

(38

)

 

$

377

 

Money market funds and other

 

 

96

 

 

 

 

 

 

 

 

 

96

 

 

$

511

 

 

$

 

 

$

(38

)

 

 

473

 

Amounts classified as current assets

 

 

 

 

 

 

 

 

 

 

 

(92

)

Investment carrying value

 

 

 

 

 

 

 

 

 

 

$

381

 

Schedule of Maturities of Investments

Scheduled maturities of investments in debt securities at March 31, 2023 were as follows (dollars in millions):

 

 

Amortized
Cost

 

 

Fair
Value

 

Due in one year or less

 

$

30

 

 

$

30

 

Due after one year through five years

 

 

119

 

 

 

114

 

Due after five years through ten years

 

 

187

 

 

 

168

 

Due after ten years

 

 

79

 

 

 

72

 

 

$

415

 

 

$

384