Quarterly report pursuant to Section 13 or 15(d)

Short-Term And Long-Term Investments And Restricted Deposits (Tables)

v3.5.0.2
Short-Term And Long-Term Investments And Restricted Deposits (Tables)
 6 Months Ended
Jun. 30, 2016
Investments, Debt and Equity Securities [Abstract]  
Short-Term And Long-Term Investments And Restricted Deposits By Investment Type

Short term and long term investments and restricted deposits by investment type consist of the following ($ in millions):
 
June 30, 2016
 
December 31, 2015
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized Losses
 
Fair
Value
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized Losses
 
Fair
Value
U.S. Treasury securities and obligations of U.S. government corporations and agencies
$
293

 
$
3

 
$
—

 
$
296

 
$
431

 
$
—

 
$
(2
)
 
$
429

Corporate securities
1,885

 
28

 
(1
)
 
1,912

 
859

 
2

 
(8
)
 
853

Restricted certificates of deposit
5

 
—

 
—

 
5

 
5

 
—

 
—

 
5

Restricted cash equivalents
73

 
—

 
—

 
73

 
78

 
—

 
—

 
78

Municipal securities
1,520

 
33

 
(1
)
 
1,552

 
496

 
2

 
(1
)
 
497

Asset-backed securities
298

 
2

 
(1
)
 
299

 
163

 
—

 
(1
)
 
162

Residential mortgage-backed securities
197

 
3

 
(1
)
 
199

 
66

 
1

 
—

 
67

Commercial mortgage-backed securities
320

 
3

 
—

 
323

 
40

 
—

 
—

 
40

Cost and equity method investments
135

 
—

 
—

 
135

 
71

 
—

 
—

 
71

Life insurance contracts
16

 
—

 
—

 
16

 
16

 
—

 
—

 
16

Total
$
4,742

 
$
72

 
$
(4
)
 
$
4,810

 
$
2,225

 
$
5

 
$
(12
)
 
$
2,218

Fair Value Of Available-For-Sale Investments With Gross Unrealized Losses By Investment Type And Length Of Time
The fair value of available-for-sale investments with gross unrealized losses by investment type and length of time that individual securities have been in a continuous unrealized loss position were as follows ($ in millions):
 
June 30, 2016
 
December 31, 2015
 
Less Than 12 Months
 
12 Months or More
 
Less Than 12 Months
 
12 Months or More
 
Unrealized Losses
 
Fair
Value
 
Unrealized Losses
 
Fair
Value
 
Unrealized Losses
 
Fair
Value
 
Unrealized Losses
 
Fair
Value
U.S. Treasury securities and obligations of U.S. government corporations and agencies
$
—

 
$
2

 
$
—

 
$
—

 
$
(2
)
 
$
294

 
$
—

 
$
14

Corporate securities
(1
)
 
228

 
—

 
80

 
(6
)
 
561

 
(2
)
 
41

Municipal securities
(1
)
 
76

 
—

 
30

 
(1
)
 
208

 
—

 
5

Asset-backed securities
(1
)
 
83

 
—

 
6

 
(1
)
 
121

 
—

 
8

Residential mortgage-backed securities
(1
)
 
39

 
—

 
—

 
—

 
30

 
—

 
—

Commercial mortgage-backed securities
—

 
64

 
—

 
10

 
—

 
34

 
—

 
—

Total
$
(4
)
 
$
492

 
$
—

 
$
126

 
$
(10
)
 
$
1,248

 
$
(2
)
 
$
68

Contractual Maturities Of Short-Term And Long-Term Investments And Restricted Deposits
The contractual maturities of short term and long term investments and restricted deposits are as follows ($ in millions):
 
June 30, 2016
 
December 31, 2015
 
Investments
 
Restricted Deposits
 
Investments
 
Restricted Deposits
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
One year or less
$
443

 
$
443

 
$
109

 
$
109

 
$
176

 
$
176

 
$
93

 
$
93

One year through five years
1,912

 
1,935

 
28

 
28

 
1,662

 
1,654

 
22

 
22

Five years through ten years
944

 
964

 
—

 
—

 
267

 
268

 
—

 
—

Greater than ten years
491

 
508

 
—

 
—

 
5

 
5

 
—

 
—

Asset-backed securities
815

 
823

 
—

 
—

 
—

 
—

 
—

 
—

Total
$
4,605

 
$
4,673

 
$
137

 
$
137

 
$
2,110

 
$
2,103

 
$
115

 
$
115